Proposal “Dash-Mexico-Qtr1-2020“ (Closed)Back

Title:Dash Mexico Qtr1, 2020
Owner:wikiwako
Monthly amount: 137 DASH (5269 USD)
Completed payments: no payments occurred yet (3 month remaining)
Payment start/end: 2019-12-15 / 2020-03-14 (added on 2019-12-05)
Final voting deadline: in passed
Votes: 476 Yes / 237 No / 54 Abstain
External information: app.dashnexus.org/proposals/dash-mexico-qtr-1-2020

Proposal description


http://app.dashnexus.org/proposals/dash-mexico-qtr-1-2020

Objective:

Dash Mexico aims to establish Dash as the main remittance cryptocurrency in Mexico by coordinating entities on both sides of the border. With the achievement of opening our first remittance gateway to Mexico through Remezaza.com in October 2019, we have now a way to coordinate efforts from USA remittance players and Dash exchanges.

Market:
Remittances to Mexico have been increasing continuously and 2020 is expected to be a new record year.The money Mexican workers send home from the United States is Mexico's top source of foreign income and represents more than twice the value of crude oil exports (https://www.newsmax.com/Newsfront/remittances-mexico-workers-dollars/2016/05/16/id/729091/).
Remittances sent to Mexico increased more than 10% year over year on the first 9 months of 2019 to $26,980 Million USD. They averaged 3008.21 USD Million from 1980 until 2019, reaching an all-time high of $9,725 USD Million in the third quarter of 2019.(https://www.jornada.com.mx/ultimas/economia/2019/11/02/bdem-entraron-mas-de-3-mil-mdd-de-remesas-en-septiembre-8691.html)
Remittances are generally received in some of the poorest communities in Mexico and play a strong role in supplementing government poverty assistance programs. Remittances are not taxed because they are transfers of previously owned money rather than payments for goods or services.
Mexico does not tax receptors of remittances as long as the transfers are for less than a predetermined amount. (https://thehill.com/latino/331579-remittances-to-mexico-at-near-record-levels)
Remittances with cryptocurrency are not new in Mexico. Ripple has made inroads partnering with Moneygram and Bitso to a claimed 5% of the remittance market by the end of 2019. Dash Mexico committed to helping Dash get its fair share of the pie by the end of 2020. (https://es.cointelegraph.com/news/the-sending-of-remittances-in-cryptocurrencies-from-usa-to-mexico-would-reach-five-percent-of-the-total-by-the-end-of-2019)

Who am I?
My name is Roel Castaño (aka @wikiwako) and I am a Systems & Industrial Engineer, MBA and an entrepreneur (https://www.linkedin.com/in/roel-castaño-01a30944/). I am 56 years old, based in Monterrey and a long time Dash community member / MNO.  You can learn more about me and Dash Mexico in this interview with Dash News: https://youtu.be/smRz6DUahPY
I first proposed Dash Mexico in September 2019 and got funded at the end of the same month. Dash Mexico has been only me for the last quarter of 2019, but this new proposal aims to grow the organization to 2 members. The second person will help with social media, education, and management. If this proposal is approved I will devote my team to making Dash the leading remittance gateway and hopefully, in the future, the most used cryptocurrency in Mexico.

Strategy:
The new strategy to bring remittances in Dash to Mexico is based on the Remezaza.com gateway for the next 3 months, which is the period that covers this proposal. Remezaza is a business that will deliver Mexican pesos in less than 5 minutes to the beneficiary of the remittance once the sender deposits Dash to the Remezaza assigned Dash address. We have a three main strategies now that Remezaza.com is open for business:
  1.  Promote the use of Remezaza.com using social media by creating videos that explain how it works and how to use it.
  2.  Find American companies that may be interested in using Remezaza.com as partners in joint efforts to send remittances.
  3.  Promote Remezaza.com to currently operating remittance companies (online and offline) as their efficient Mexican gateway for fast and cost-effective money distribution.
I am already working on some of these strategies and will hopefully announce something in the coming weeks.



Show full description ...

Discussion: Should we fund this proposal?

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-1 point,4 years ago
You have my support.
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2 points,4 years ago
Yea if you say your an MNO prove it. Also since this is a for profit business you should contact the DIF to either get funding directly from them or to create a contract that will give the DIF a certain number of shares when this proposal passes.
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1 point,4 years ago
I don't know if the MNO mark will show here, but check my recent comment on the Dash Force proposal. The icon is there.

About the business investment by DIF, Mexican regulations won't allow new partners in fintech companies without a very lengthy and complicated process. We should still aim to get remittances in Mexico using Dash and Remezaza is our best chance for now. More than a 100M USD are sent daily and this would be one of the greatest use cases.
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1 point,4 years ago
<I am 56 years old, based in Monterrey and a long time Dash community member / MNO. > Please add the MNO icon next to your name in the settings so we can confirm you are a MNO
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-1 point,4 years ago
Almost all the money is being claimed for paying himself. Big red flag.
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1 point,4 years ago
How the hell do you get to comment on everything (usually negative) and dont have a masternode?
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2 points,4 years ago
We will now be 2. The pay is a necessary evil.
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0 points,4 years ago
Exactly my point.
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2 points,4 years ago
So we give him 21k to do as he sees fit without any clear deliverables or any transparency of where it is being spent comon fellow mno wakeup!

And vote No!
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2 points,4 years ago
100% Agreed with @RealMrHack. I find it hard to believe that MNOs continue to vote in projects that are not providing a worked out business plan. Would MNOs be prepared to fund a project like this out of your own pocket? Because that is exactly what you are doing by continuing to vote in projects that have no clear plan other than "you are going to have to trust me". Voting no, until such time that I am able to make a reasonable assessment of this project based on quantifiable and demonstrable facts backed by a business plan.
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0 points,4 years ago
This project is a business development venture. A business plan does not apply. This potential market is too big to ignore and it implies approaching and trying to convince companies to work with Dash on remittances.
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0 points,4 years ago
@wikiwako a business development venture money to run. It requires favourable economics to have a chance of success. There is no point developing anything until it can be determined it is even worth starting the development i.e. that the solution is actually viable. Before development starts we need to identify and assess competition in order to know if the proposed solution is even worth developing in the first place. What is the point of developing a solution that cannot compete against established businesses? A business plan also uses other basic metrics assessments such as SWOT analysis which can help you actually increase your chance of success.

The business plan would also identify problem areas in the market or with your proposed product so that solutions can be developed.

A business plan covers all these and more which help know if a development project is worthwhile . You claim that it is not a business however anything involving money and creating a solution involves the same issues to be tackled that are covered by a business plan to determine if your development is even worth our while investing in.
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1 point,4 years ago
This proposal might have passed if it:
a) asked for 30Dash again
b) had a budget
c) if the Ripple-Bitso partnership was featured more prominently in the proposal (instead of just hidden in the middle) --https://www.eleconomista.com.mx/mercados/Remesas-en-criptomonedas-representarian-5-del-total-al-final-del-2019-Bitso-20191126-0097.html
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1 point,4 years ago
d) the MNO icon was activated beside your username so that we can verify the statement that: <I am 56 years old, based in Monterrey and a long time Dash community member / MNO. >
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0 points,4 years ago
None of the aims of your original proposal have been realised and you now you want 4x the dash for subsidising a "private company"

Ofcourse you dont need a business plan because most of it is personal compensation. Wow!! What a nice arrangement.

This is one more stupid idea out of many and I would rather see this dash burn rather than to give it to wikiwako as "executive pay".
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3 points,4 years ago
I understand you may not like the idea ValenciaDash, but to say that nothing has come out of this is a lie.
These are some of the results of my work:
1. Cubobit listed the Dash/MXP pair. Now the only leading Mexican exchange to list Dash.
2. Remezaza was born out of my suggestion and support to Cubobit to pursue remittances exclusively with Dash.
3. Cubopay POS system will soon hit the market and will work with Dash as the main cryptocurrency.
4. Business development work has started with other entities to work with Dash now that the Mexican corridor is set up.
This is not trivial. If 10% of the USA to Mexico remittances are ever done with Dash, the daily volume of world traded Dash will pick up by almost 11%. This will also drive up awareness and most probably have a very positive effect on price.
I don't know of a better use case than this at this moment.
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1 point,4 years ago
Get us a cheaper cost to remit Dash from USA to Mexico and then will talk. You're current plan costs around 3-4x more in fees than TransferWise
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1 point,4 years ago
Please see the budget here: https://app.dashnexus.org/proposals/dash-mexico-qtr-1-2020/budget
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0 points,4 years ago
This is a private, for profit business and should not be funded by the treasury. "Dash Mexico" is a misleading headline for this.

There are no budget details either which is always a red flag.

The DIF was created for specifically this purpose and this should come through them, if at all.
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1 point,4 years ago
Dear ValenciaDash, it is correct that Remezaza is a for-profit business, but neither I nor anybody in my family has shares or benefits directly from this business.
Remezaza is a subsidiary of Cubobit, which is the exchange that I, as Dash Mexico, worked with to create this USA to Mexico Dash remittance corridor.
The purpose of Dash Mexico is to promote Dash use, and if that means helping Remezaza/Cubobit be successful, that is what Dash Mexico will do.
Dash Mexico will also support any other platform that uses or promotes Dash.

About the budget, You are right. I did not post it and I am sorry. It was is the Dashnexus concept and did not transmit correctly to the proposal. You can see the budget here: https://app.dashnexus.org/proposals/dash-mexico-qtr-1-2020/budget
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0 points,4 years ago
So the treasury makes all the expenses and cubobit keeps all the revenues and profits? What percentage equity is being given to DIF for such high risk capital?

Also, how is this Dash Mexico? Isnt that misleading when this funding is meant to subsidize a private company's operations?
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1 point,4 years ago
There is no subsidizing at all. Dash Mexico promotes any platform that uses Dash. Especially if it is Dash exclusive like Remezaza.
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1 point,4 years ago
Thanks, Hsad. You are right. No subsidies. As a matter of fact, there are now only 2 platforms for cryptocurrency-based remittances in the huge USA-Mexico corridor. The other platform is based on Ripple.

Dash treasury should invest in the largest remittance corridor in the world and, at least for now, Remezaza is the only one using Dash. Supporting Dash in this remittance market is the purpose of Dash Mexico.

About getting equity in Cubobit, Fintech laws in Mexico are strict and altering the owner structure of Cubobit would be extremely complicated. If the DIF is interested it would still be interesting talking to Cubobit about it. It would still take time and that we may not have. The window of opportunity may not be open for long before more competition jumps in.
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-2 points,4 years ago
I think this proposal is a great use case.
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0 points,4 years ago
check out how Remezaza is much more expensive for fees than TransferWise.
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0 points,4 years ago
Ya if it was more cost effective at a cost of 21k definitely not viable currently
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4 points,4 years ago
That to for 20k! Just to get a simple service where an intermediary party sells the dash they acquire on coinbase et al and, releases the equivalant in fiat via. Bank transfer or other means.


Which is a for profit business I see no reason why dao should fund this.
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-1 point,4 years ago
Dear Realmrhack, it is correct that Remezaza is a for-profit business, but neither I nor anybody in my family has shares or benefits directly from this business.
Remezaza is a subsidiary of Cubobit, which is the exchange that I, as Dash Mexico, worked with to create this USA to Mexico Dash remittance corridor.
The purpose of Dash Mexico is to promote Dash use, and if that means helping Remezaza/Cubobit be successful, that is what Dash Mexico will do.
Dash Mexico will also support any other platform that uses or promotes Dash.
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0 points,4 years ago
Yes, Remezaza doesn't need DAO funding. And Remezaza is still substantially more expensive than the conventional options (ie. Transferwise)
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-1 point,4 years ago
This objection is addressed below.
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3 points,4 years ago
Im sorry but im seeing little value in this proposal, because your remezaza model relies on users already having dash.

This doesnt create demand for dash, other than some few superficial transactions

Voting No
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0 points,4 years ago
Hello Realmrhack, by your objection I understand you think that the Remezaza platform requires the remitter to already have Dash, but that is not the case. Dash Mexico is working with other parties to supply Dash to Remitters and provide an integral solution.
Regarding your assertion that "this does not create demand for Dash", I disagree because the remitter will have to buy Dash to use this platform and learn about Dash. Dash Mexico will further focus on educating users on the platform and the benefits of Dash as digital cash.
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2 points,4 years ago
Yes, with Remezaza, the remittance sender deposits Dash, and then the recipient signs up to Remezaza with their bank acct info. And Remezaza deposits the MXN into the recipients bank account.

Also, as seen with the #'s below, Remazaza is substantially more expensive than remitting fiat with Transferwise (and that doesn't even include the fees the sender has to incur if they were to obtain Dash with their Fiat)
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1 point,4 years ago
Dear Currency_use_case, you are mistaken about the sequence required to use the platform. First, the beneficiary sets up an account to receive remittances through the Remezaza platform, and then the sender sends it to this account from here on as many times as the sender wants.
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3 points,4 years ago
<eWallet_Ash
20 days ago

Remezaza Rate 1 DASH = 1,256.22 MXN
Real Rate 1 DASH = 1,303.60
MXN Difference = 3.77%

Transferwise 100 USD - MXN = 1.71% fee
Transferwise 1000 USD - MXN = 0.75% fee>



so for Mexicans living in USA, they are better off using the USD they already earn from their job and remit it with TransferWise. +This quote above DOESN'T even include the exchange fees of converting the USD they have into Dash (at a BTM that has Dash it could be 5 to 10%, on an exchange could be 0.25-1%, on localbitcoins could be 2 to 10%)
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0 points,4 years ago
Dear Currency_use_case, indeed, Remezaza is not the cheapest remittance service and it does not aim to be that. It is a new online service that has to be used and thoroughly debugged before aiming to be mainstream.
On the other hand, Remezaza may eventually adjust fees to be price competitive, but don't forget that it offers benefits that others can't match such as unbelievable speed and being able to send money from anywhere in the world.
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1 point,4 years ago
point: that it likely to get very little use since when the fees for the sender to acquire Dash are included it ends up costing around 3x much as Transferwise
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1 point,4 years ago
3x is if the sender buys the Dash on a centralized exchange. If the sender buys it at a cryptoATM or localbitcoins (and then uses ChangeNow), it could cost 4-6x as much as Transferwise
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0 points,4 years ago
You are right if the fees stay at the current level, but Remezaza's fees are not etched in stone. This is just a starting point. Fees will be adjusted as required.
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1 point,4 years ago
Voters: we have no guarantee that Remezaza, at some point, will be able to compete with Transferwise on fees
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0 points,4 years ago
You are correct. Dash Mexico can not guarantee that any third party business endeavor will commit to anything, but the costs of sending Dash to Mexico are lower than any bank transmittal service, so it is not out of the question that it will be competitive.
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1 point,4 years ago
TransferWise is much less than the fees of Remezaza. TransferWise is not a bank transmittal service?
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2 points,4 years ago
So essentially where paying for something with ambiguous open ended commitments
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