Proposal “Proposal-36-DashATM“ (Closed)Back

Title:PLEASE VOTE DOWN
Owner:ThirtySix
One-time payment: 1625 DASH (147429 USD)
Completed payments: no payments occurred yet (1 month remaining)
Payment start/end: 2017-09-18 / 2017-10-18 (added on 2017-09-20)
Final voting deadline: in passed
Votes: 905 Yes / 64 No / 1 Abstain

Proposal description

Please downvote this proposal.

This proposal will not be paid out due to the addresses associated with the proposal being multi-signature address. This issue will be addressed and the official announcement can be found here:

https://www.dash.org/forum/threads/alt36-proposal-issue-resolution.17131/

Show full description ...

Discussion: Should we fund this proposal?

Submit comment
 
0 points,1 year ago
We don't need fiat -> DASH ATMs installed in places that already take cash in a frictionless manner. You don't appear to have a working website. Would like to see evidence of successful project execution, you're asking for a huge amount of funding and I can't seem to see much of a track record to justify it.
Reply
1 point,1 year ago
The cannabis industry has a huge cash handling problem so it is anything but “frictionless.” The large cash handling fees get pushed down to the customers, dispensaries have to pay their suppliers in large amounts of physical cash, and storing large amounts of cash is unsafe. Implementing the ATM network in dispensaries relieves these issues and work towards replacing fiat altogether.

We are in the process of migrating to a new hubspot platform and there have been issues with the secure redirect. In the meantime, you can access our website at www.altthirtysix.com

In terms of “evidence” of successful project execution, we are ahead of schedule on our platform’s milestones with the Dash Core members and our designated Dash project manager. We will be going into beta in December and need time to develop the network of ATMs in advance to make the largest impact when we go live.
Reply
0 points,2 years ago
I think my question got buried in the thread:

A new 4th implementation document with the required deliverables was produced, can you share an outline what is pending?
Reply
2 points,1 year ago
Each deliverable below has a detailed document of what has been implemented and what still needs to be tested, this is delivered on time to Dash Core team members and the assigned Dash PM.

We have completed the following major deliverables:
1. Development environment set up, database scheme designed.
2. QA Test environment set up; Alt36 frontend components implemented.
3. Frontend for web application completed.
4. Backend components for login and dashboards implemented
5. Backend components for user management implemented. Integration completed for following 3rd party services: BlockCypher API, POS, Bank.

These are the remaining major deliverables:
6. Implemented wallets for partners, merchants, vendors, and customers. Completed integration with following 3rd party services: Exchange/Broker, Tax calculation.
7. Notification center implemented.
8. Reporting service completed.
9. End-to-end system test completed.
10. Service set up in production.
11. System tested in production.
Reply
0 points,2 years ago
Can you describe your user registration process and what are the dollar amounts allowed before users have to give their information before using the ATM?
Reply
1 point,1 year ago
We are finalizing our compliance policy which covers the registration policy and dollar amounts. Based on the FinCEN requirements and the initial industry we are approaching we will be setting strict guidelines beyond the minimum limits. Every transaction will be monitored and a risk scoring system will get implemented on business and customer wallet transactions for both our platform and ATMs. This plan will adapt over time as the business needs change, but we will always remain in compliance with the regulations and required due diligence levels.
Reply
2 points,2 years ago
Could you please share your FinCEN MSB number for verification?
Reply
1 point,2 years ago
Our money transmission and compliance experts are finalizing our compliance policy prior to filling with FinCEN. Furthermore, the FinCEN filling process is fairly quick and we are given 180 days after the operation of the business starts. Since we have yet to operate any ATMs, it is not necessary at this time.
Reply
0 points,2 years ago
Nope, it doesn't take long to fill out form 107 its just two pages.. However you do need to register your business within 180 days of formation, not after operation starts. So not sure when you formed Alt36 but might want to review that or prepare to form a new company. But this has me questioning your readiness for the MSB industry. Is the operation being offloaded to another vendor? Well when you pass your NDA time period and you can share the info on equipment I'd be happy to review your ATMs.
Reply
1 point,1 year ago
The ATMs will be operated by a new entity that will be subject to any terms agreed upon by the proposal. We have a compliance policy that’s being finalized by our compliance and money transmission experts. This policy will adapt over time, we understand the FinCEN regulations and are compliant with them.
Reply
1 point,2 years ago
PhilaDASHia's point here seems like a very valid one so can we either

A- be told why this is unnecessary in these circumstances or

B- be informed of this info as requested?
Reply
3 points,2 years ago
Yes Yes Yes
Reply
1 point,2 years ago
Voting yes
Reply
2 points,2 years ago
One of the main roadblocks to mass adoption of Dash as digital cash in the US is the difficult/impossible task of buying $50 US worth of Dash in a convenient, efficient frictionless manner. These ATM's solve that problem (assuming fees are low and exchange rates are reasonable).

This kind of retail environment, where both the customers and the business are obligated to use cash is a perfect test bed. If it works here to buy Dash easily and efficiently, we can organically spread the ATM network all across the country to other kinds of settings, not just cannabis.

I also suspect that subsequent batches will be much less expensive once the R&D is done. The ATM network should also become profitable and self supporting, with all profits plowed back into more ATM's.

Voting yes, if that wasn't obvious.

Solarguy on the forums.
Reply
4 points,2 years ago
First, let me say I like the proposal because I think this will make your service much more useful and convenient. In fact, I think these ATMs are so important that they should have at least been discussed prospectively in the original proposal as I don't see how the Alt 36 platform would work without Dash ATMs on site.

However, I have one question about the proposal:

Is the Dash community essentially gifting Alt 36 these 30 ATMs worth 390,00USD or do we retain ownership in the event that your company stops using these ATMs or closes?

It seems to me that if the Dash community pays for these ATMs to make the Alt36 service and the Dash currency more useful, that the Dash community should also retain ownership of these ATMs no? I would think it would be best for Alt36 to agree to return them to the core team or liquidate them and return the proceeds to the core team in the event that Alt36 stops using the ATM's to Dash's benefit.

I think the assets Dash will be paying for here should remain Dash's property and go on to serve Dash regardless of whether or not Alt36 delivers on its promises
Reply
2 points,2 years ago
In the unlikely event that Alt Thirty Six completely stops using the ATMs and/or Alt Thirty Six closes down, we will return the ATMs back to the Dash Core Team or to an organization of the network's choice that will continue to grow the network of ATMs. We agree that the ATMs should serve the Dash network and are more than willing to agree to such terms.
Reply
1 point,2 years ago
Yes, please add this to the terms.
Reply
1 point,2 years ago
We have added a new "terms" section below the "requested funding from Dash Network" section. We have added this to that section.
Reply
0 points,2 years ago
Can you please verify your identity?
I want to vote yes, but not without a confirmation of some sort.
Reply
1 point,2 years ago
Our team is listed at the bottom of the proposal. You can find us on LinkedIn. In addition, we have been working closely with Dash Core members and they can vouch for our identities.
Reply
2 points,2 years ago
Is this information up to date?

"development environment setup, database scheme designed. [IN PROGRESS]"

This means we don't have any of the 11 deliverables?

Wait a minute...
Reply
-1 point,2 years ago
That information is not up to date. We have completed that step and are now in the last phase.

We have provided all of our updates for our platform on the Dash forum here:
https://www.dash.org/forum/threads/proposal-alt36-dash-payment-platform-4-updates-included.14571/

In addition, here are all of our monthly updates:

PROJECT UPDATE 06/06/17:
https://www.dropbox.com/s/1di8xx7ciqtopoq/Project Update June 2017.pdf?dl=0

PROJECT UPDATE 07/05/17:
https://www.dropbox.com/s/dnpty2rxb7p9fw5/Project Update July 2017.pdf?dl=0

PROJECT UPDATE 08/08/17:
https://www.dropbox.com/s/o6b7wh0lbyssidc/Project Update Aug 2017.pdf?dl=0

PROJECT UPDATE 09/05/17:
https://www.dropbox.com/s/kcr1dnbj0nzg1ok/Project Update Sept 2017.pdf?dl=0
Reply
1 point,2 years ago
Thank you, but I was looking for some table showing those 11 initial milestones/deliverables.

I understood a new list of deliverables has been compiled. Do you have a resume?
Reply
2 points,2 years ago
To summarize:

"Currently, purchasing Dash is near impossible for the everyday person."

"Our solution is to host the largest network of Dash ATMs specifically for making the purchase of Dash as simple as possible."

A clear yes from me.

Bridging this gap in my opinion is one of the most important steps going forward. I also understand that people want to be kept as informed as possible on progress made, which I trust will be honoured.
Reply
0 points,2 years ago
Yes, we will provide monthly updates on our progress with regards to the ATM network. This will include updates on the development, testing, implementation, etc.
Reply
1 point,2 years ago
Alt Thirty Six has been very faithful and detailed in reporting, well beyond what I have effectively tracked, so forgive my question if you have addressed this somewhere, but,

What is your forecast for increased Dash transaction volume based upon your various in-service dates?
Reply
0 points,2 years ago
It is hard to forecast a number for how much increased Dash transactional volume our various projects will generate, due to multiple variables being involved in such an estimate. However, we can give you an overview of the various different channels we have access to.

We are integrating with the top POS systems in the cannabis industry which gives us access to 6,000+ dispensaries. In addition, we have partnerships on the Business-to-Business side giving us access to a large portion of the supply chain. These various partnerships give us access to a majority of the cannabis industry, with the cannabis industry being a reported $6.7 Billion industry in 2016.

So, in terms of our platform alone, we are looking to increase the Dash transactional volume greatly once we capture market share within the industry. The proposed ATM network speeds up this process, while also later being able to be located in industries/locations outside of the cannabis industry (once we capture sufficient market share in the cannabis industry).
Reply
1 point,2 years ago
Seeing these are physical product, will you provide proof delivery of these machines ?
Reply
0 points,2 years ago
Yes, we will continue to provide monthly updates to the Dash network. Proof of deliver will be part of these updates.
Reply
0 points,2 years ago
So, buy 30 profitable ATMs for your business? Um I think not. Big no
Reply
0 points,2 years ago
Revenue generated from the ATMs will be directly reinvested into the ATM network operation. This includes, but is not limited to, purchasing more ATMs, hiring more ATM managers/business intelligence analysts to track metrics and evaluate performance, and increasing the cash/Dash reserves to add more liquidity to the network of ATMs.
Reply
-1 point,2 years ago
Maybe finish development of https://www.dashcentral.org/p/Alt36DashPaymentPlatformpart2 first? Monthly updates are nice but I do not see any evidence that there was actually something done for the money.
Reply
0 points,2 years ago
We are in constant communication with Dash Core members and the Dash Project Manager on our progress with regards to the 36 platform. These individuals have validated that we are on target and successfully completing our deliverables for the project. Currently, we are in the process of testing and assisting third parties on their integrations to the platform in order to process Dash transactions.

This current proposal is complementary to our platform and Alt Thirty Six wants to be able to make the largest impact in the cannabis industry as quickly as possible. To help achieve this goal, having the network of ATMs developed, tested, and perfected when we launch the platform is paramount.
Reply