Proposal “UK-Fiat-To-Dash-Exchange-And-Marketing“ (Active)Back

Title:UK Fiat To Dash Exchange & Marketing Integration
Owner:AshFrancis
Monthly amount: 25 DASH (15278 USD)
Completed payments: 1 totaling in 25 DASH (7 month remaining)
Payment start/end: 2018-01-18 / 2018-09-13 (added on 2018-01-24)
Votes: 792 Yes / 94 No / 64 Abstain
Will be funded: Yes
Manually vote on this proposal (DashCore - Tools - Debugconsole):
gobject vote-many 3f82f91ab626af64f8057b36b01ac345ae76ace522f7e54c571c115de90face8 funding yes

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Proposal description

Budget: 25 Dash per month for 8 months (full escrow by dash core team)

Click here to read as a PDF (in case of rendering issues)

Click here for our pre-proposal discussion on the Dash.org forum

Creating a better user experience to drive adoption of Dash in the UK and improve Dash marketing.



Summary

The marketing efforts in the UK of Fernando, Feedband, et al. are having a serious impact, driving discovery and awareness of Dash at a key time in the 6th largest economy in the world.

This spend is being ramped up even further over the next quarter with an aggressive 65% of the budget targeting the UK.

Our goal is to create a frictionless user experience for UK adopters and provide Dash marketers with a complete picture of the user journey from discovery all the way through to adoption. Dash will be the first and only crypto to have a completely holistic marketing approach.


Pain point 1:
The user experience of UK investors and adopters of Dash in the UK is poor

https://lh5.googleusercontent.com/E3WAIjg3PN6M7rOpT-diIuvEzHwXWooUYKJw3_OQLY3ainuYBskah4qRtNW63xfyjAn477rreCyWvoAJd2x4T2fWtLSGAUEhrTj3aoBVQJbOSFaEGELuPKhExhHAnBI4d3aMUbUV

Okay so there are other ways that aren’t quite that bad, but even Uphold (which from our research we’ve identified as one of the best) constantly pauses payment by credit/debit card. They also have high fees and require slow bank transfers that have to be sent to Portugal - not very reassuring for someone new to cryptocurrency especially with bad actors like bitconnect being prominent in the media.

And that’s just how you get Dash, there is a huge user journey before even looking to buy Dash that can be improved and we have extensive experience in this area. We’re going to be far more than a tool, we’ll be an educator and a point of reference - even an authority figure. We want to make discovering, learning and acquiring Dash as frictionless as sending it. Our intention is for a user who is both new to Dash and Cryptocurrencies in general to feel confident using our site and, even with no prior experience of cryptocurrencies at all, leave our site feeling that the process was explained to them clearly and they have some understanding of cryptocurrency fundamentals.

We’ll also be providing use education to the offset, converting speculative investors who see crypto as a pump and dump to Dash advocates with an appreciation for the technology and future adoption of cryptocurrency.


Pain point 2: We’re marketing without the full picture.

https://lh6.googleusercontent.com/ORoy5pGPx14my589nZ-A0o4pyu6ESE3oUD5ogW53fbgSujVb9xFEbja_XKxB4LK9pmjN7ht9HTY2ML4TEk42qkL3-9I2L2f_OiXD8FMb6LhMDsbRno_EDlacXpuUIFHW4Wak0sKv

Dash marketing is great - we’ve got an experienced team from all over the world with millions of spend in history, however it has potential for improvement. From our research there is no other crypto that has a complete view of their adoption journey - right from discovery through to purchase. We could be the very first to have a complete view and a holistic marketing approach.

We don’t expect Dash.org to recommend our exchange over any others, but the data we provide will be a representative subset of Data that can be scaled to understand the trends in the wider marketing campaign. This data will be invaluable in optimising the user journey and the adoption funnel - to be the very first crypto to have this data will allow us to outmanoeuvre any others in the space.

Quick note: All data we provide will be anonymous and at campaign level only, tracked through UTM & Gclid parameters - the technical side of this is out of the scope of this proposal but I’d love to chat through it on discord or telegram.

Okay so now you can see how much this project can help Dash, but who are we and why are we the ones to do it?



Meet the team

https://lh6.googleusercontent.com/SYlJbqXSfP8hDsODOF0dLPCMgf5JstjdmZdzA1F7x8JnUTps-BDIdt4OWY7HNy1GrIOKBUIaqaFwryB66FO5TV1B5ZNLA12IgcDaYBtKAPKxSA9FmdWAdVnflUuN0kRmxuM9X73c
LinkedIn - Telegram

Accomplished Digital Marketing Manager with 10 years experience working with small to medium brands, has managed builds of complex, enterprise level websites & applications. Led the digital marketing efforts for businesses like:

Scrap Car Comparison - UK comparison website, managed rebuild of site & backend systems
Leaders - One of the UKs largest real estate groups (100+ Branches)


https://lh5.googleusercontent.com/O3V8GF8P4aIS1v7-qKpRqnYwOgMTZMOyaY4HFiNYKLglEFXwGNMQILMndginYdcgty1KsYVpEGxGnkx4YRaYHyi2qSat7c5aDtnSrtmT1RIHIc319Lr0xJnARITa-WmBDlI0DFZm
LinkedIn - Telegram

Our Software Engineer has over 8 years experience, including projects ranging from bespoke applications, to high-throughput forex trading systems, to managing the enterprise stack for an hosted communications provider.


https://lh5.googleusercontent.com/NFZb9rFCsXKjoULgVhdpnKYpmDY7sxrXDZDlSgzmmqS877OFgEDL_WQCh48sVEUrjEtrPOGblgkpV1q235RhEyxbhg49O5iJYSWCFObnp2YSbEo1SO3VSPRSGkracHOwmUiIPH7H



https://lh4.googleusercontent.com/4pr5EdjNxok0cW2IZ-mXs2e5L9_Fq1LlnrwbNxvYFs30Kie9XxrOqOnbUvsJ5JzIc6KeIKK171oeCNqwtJ7dufLmKgAYuq4gF2LMSjekR6mt2l7SgLOkxsm1bxZrKhITwbjaDsI2
LinkedIn - Telegram

With 8 years in financial services, Rich will be managing all aspects of compliance including anti-money laundering and know your customer laws. He’ll also be performing various operations duties including customer support and weekly reports to the DAO. His record includes:

Harwoods Wealth Management - Publicly listed financial planning group
Affinity Financial Awareness - Financial services firm representing over 100 advisors




What We’re Building


https://lh5.googleusercontent.com/dTTZ0K1OKWG6R1HAmJuuTOYHXrUz4OVfIOB-iIIiY3HutgjKNKnFBBMWJiYH-y4T3Z5GyAE77hSaB9KOharMtcbaZiIFhTGBP7Tojh3STIdKs95KDhOEVAgIV85v9w8tbDDrz-Tr

Our first goal is to make direct purchase as simple as possible, we’re going to build an instant fiat to dash exchange for the UK market with marketing reports for Dash marketers hard baked in from the offset.

If you’re interested in the technical side of the development we’re going to be building everything to be deployable to the AWS cloud (EC2, EKS, SES and SMS) with security, speed-of-development, platform reliability and the ability to scale quickly being the main contributors to our decisions. We've opted for Kubernetes orchestration and a microservice approach with the majority of our backend infrastructure being written in GoLang. React will be used to connect the front-end.

The app will be separated by a subdomain from the marketing site which will be built with wordpress on DigitalOcean in the first couple of months to get the ball rolling from both an SEO point of view and to generate some email sign-ups for initial traction (for all the details see the full roadmap down below).

For payment we’ll be accepting credit & debit card utilising the developer favourite Stripe as our payment processor.
Compliance will a key factor early on, registering with the FCA and meeting all KYC and AML legislation.

We’re also going to be enforcing key security measures including 2FA and following best practices (SAML, https, etc).


Budget Breakdown

All payments will be through Escrow with the dash core team, we have a full roadmap with set targets and will be reporting weekly along with monthly video reports.

We’re asking for 25 dash per month for 8 months to fund the full build and launch of this exchange. The breakdown of average monthly spend is as follows:
 https://lh3.googleusercontent.com/iCpHNvEcsTpNfd-3_0A7-bU0gC2dJIftC-XD1d33RQ1DAXTdO7N2U-TpOBKXQV_OYGq_DgCjE9rBZUvMEucB2R6Mk7jfLJhox436elCdkLncmE605uaM_HuLaPv9MaJX3oVYCLqv

Worth noting that the Salaries are for 4 people and are based on £125 per day (£2.5k per month) this is a cut from our normal salaries and after tax allows us enough to live on whilst being able to dedicate full time (40+ hours a week) to building this project to the best it can be. 

We’ve broken down the other costs in our open google sheet here: https://docs.google.com/spreadsheets/d/1_JNy2xBsR2-Uz-ptuMCO9tOaRQZk3equ_JxBVanjHcQ/edit?usp=sharing 

We’ve based this budget on the current Dash price and significantly reduced any marketing budget to accommodate for rises in Dash price, all additional funds from fluctuation in Dash price will go firstly towards any infrastructure shortfall (unlikely) and then towards marketing & growth.


Project Roadmap and Deliverables

This is based on us getting funded in the next superblock:

https://lh3.googleusercontent.com/21_SpHYmIheXfsfecRjvlTvtO_xtHcXWmBIk4D4RhFTxHA6hjTvl8bUKmrBMsMZiHfqBCUm5P0iZB8tn3OnpVJktUVJlPYblxgnlZKO9kVYuRLE_F2_k3W3Ew4q2QVgWRwF1p00L

As mentioned before, all these deliverables will tie in with our funding and Escrow from the dash core team - we don’t deliver, we don’t get funded. We’re confident in our ability as a team and know that accountability matters.

Thank you for looking at our proposal, we invite any feedback you might have and you can nearly always reach one of us on the dash nation discord, our public discord for eWallet here or any of our Telegram accounts (Ash is probably your best bet though!)


Some questions we would like to answer in advance:
Please note, if you have a question please make sure to check out our Google Sheet - it may have been covered there. Also for more urgent queries please chat to Ash on telegram here.

Q. What will you do with any excess budget from pricing fluctuations?
Excess budget will be first routed into any infrastructure shortfall first and secondly into marketing and growth.

Q. Why is your marketing budget so small?
We’ll be working with other marketers working within the Dash space as well as investing our own funds into this and we’re also funneling any additional funds gained from fluctuation in Dash price to marketing.

Q: How will you source the Dash for the exchange
Until there is a peer to peer element to our exchange we will source the Dash in the most financially effective manner, we’ll be seeking out access to the interbank exchange rate to convert to USD and buy at the best possible rates we can. Interestingly there may also be demand from other Dash projects to convert their budget into fiat.

Q: Who is your front end developer?
We’re currently in talks with 4 front-end developers, all of which have shown significant interests. The project conceptualisation comes from us 3 and the 4th head is unlikely to be invested in crypto (in particular Dash!) like ourselves.

Q: Will this be open source?
No we’re not planning on building this as OSS, however we’re happy to share the source code and/or aspects of it privately with developers / dash core team members.

Show full description ...

Discussion: Should we fund this proposal?

Submit comment
 
-3 points,24 days ago
Revolut already is a bitcoin/litecoin/ethereum exchange which is instant and can be withdrawn through the app or from ATMs. This crypto can then be exchanged for dash. You are intentionally deceiving MNs by claiming in figure 1 that the only way to get from Revolut to Dash is via Euro --> Coinbase when in fact you can exchange directly using this bank.

We require a higher attention for detail in your market research. You should be more honest with your critique of your competitors in the future.

Therefore we do not believe the case has been made for justifying establishing a new exchange and all the risks associated with it, compliance, etc. when you can purchase crypto using Revolut, unlike the case you made above.


We are voting NO

Opera Node
www.opera.consider.it
Reply
2 points,23 days ago
This is completely wrong:

https://community.revolut.com/t/send-bitcoin-eth-ltc-to-and-from-revolut/18427

https://community.revolut.com/t/bitcoins-and-others-cryptocurrencies/10993/3

Please consider doing proper due-diligence or approaching the proposal owner before you make serious accusations like the above.
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3 points,20 days ago
The proposal owners links to the competitor's site seem to back up his claims.

At any rate I think more Dash on and off ramps are a legitimate investment and the budget is not too crazy - especially as the UK is turning into a police state.

Voting yes.
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0 points,8 days ago
As a UK based MNO who has suffered the exact pain points this proposal is trying to help fix I can confirm that what operaincubator state with regards to Revolut is factually incorrect currently.. I know this because I am a premium customer of Revolut and I was one of the first to use their crypto product (in beta). To this date it is only possible to purchase crypto from within the app using FIAT transferred into your Revolut wallet. You cannot transfer crypto into it. You also cannot send this crypto out of revolut to any crypto address, you can only send it to other Revolut users. This means that the whole Revolut crypto product remains in-house and completely sandboxed and controlled by Revolut at all times. I know this has already been stated in the links above from the proposal owner but I'm an MNO and my direct experience completely backs up the proposal owner on this occasion.

I'm quite disappointed to see operaincubator make such an ignorant and unfounded claim. It does nothing to inspire confidence with the proposals we've already funded them with..

Walter
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3 points,26 days ago
MNO, AUSTRALIA
YES given for this project. On ramps are important.
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1 point,26 days ago
I would like to see straight fiat to Dash gateway in the UK, but I don't believe you'll make it possible. I have done well over 20k+ transactions via localbitcoins and I can tell you from my experience, banks are unwilling and unable unless you have some (very) good connections I don't see how you will pull this off.

Future more I find your chart very deceptive, there are different way uptain dash as well, which makes me not able to trust you.

I would change my votes to yes if there would be a reasonable change for becoming a "coinbase like pound to Dash" platform. I would not mind to vote for such a proposal even it would cost millions of dollars (do masternode owners definitively need to earn a stake in that company)
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1 point,26 days ago
I can appreciate that view and there are challenges for us to operate in this space - no denying that. However we'll facilitate transactions through whatever avenues are open to us and constantly pursue solutions to the UK banking issues. If the worse comes to worse we'll temporarily operate as others do in this space - either as a non-UK entity or by processing payment through other routes.

With regards to the chart, that was just one recommended route and in both the video and the proposal we acknowledge others - no intention to mislead here and we've discussed many others on the comments here and on discord.
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1 point,25 days ago
I am very doubtful, but I don't see a better proposal, so i voted yes
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1 point,25 days ago
Thank you - I'm confident we'll have earned that trust in time.
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3 points,26 days ago
I really hope this makes it over the line. With only 2 days left until the voting deadline it's a close run.
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4 points,26 days ago
Fiat gateways are needed everywhere but the UK is particularly under-served. I clear yes from me.
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1 point,26 days ago
Thanks seascape - this is definitely something we agree with and we would love to help other teams develop local solutions for them or expanding into areas with a shortfall.
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1 point,27 days ago
Can you explain the ROI for Dash? Since I do not see it. Thank you.
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1 point,27 days ago
Of course, this falls into 2 parts:

1) We'll be reducing barriers and friction for UK dash adopters, to do this we'll minimise the fees involved to obtain Dash and offer a smooth, succinct process for obtaining it. One of the reasons why Coinbase is so popular is that it offers an easy, convenient way for novices to obtain crypto. We'll be doing the same but with very much a Dash focus, and due to the DAO subsidising the build we'll be able to offer this at much lower fees as well as empower UK dash holders with the ability to sell their Dash (spreading Dash around will help stabilise the currency and create more Dash advocates). We'll also be creating UK targeted content & media to encourage adoption - our goal is to be a self-sustaining entity existing outside of, but working directly with the DAO & other Dash initiatives. We've had a lot of UK Dash enthusiasts come to us in support of this as they've experience the same pain points we're trying to solve. By making Dash vastly more accessible to the UK (the 5th largest economy in the world) we'll increase it's adoption, helping establish it as leading cryptocurrency. It goes without saying that the UK is home to the financial capital of the world in many eyes along with a significant investor base and wealthy population.

2) We'll be providing valuable insight & conversion data to the Dash marketing teams, to put this into context:
- Feedbands will be targeting the UK with localised Dash Informer landing pages
- Traffic from those pages will be sent to our exchange with tags that allow us to attribute their Dash acquisition to the campaign they originally came to Dash Informer from.
- We'll provide access to that data to Feedbands & their team to optimise their campaigns accordingly.
This data will provide a reliable model (a data sample) that can be applied at scale to optimise all Dash performance marketing campaigns to lead directly to Dash acquisition and advocacy.
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1 point,26 days ago
How like is it that you can comply with AML and KYC and actually setup this gateway ? and with time frame ?
I think is the most important aspect of the project.
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1 point,26 days ago
Completely agree, Rich is heading up the compliance side from his background, I've also been involved in loan products and have exposure to this. Hence we're already fairly familiar with AML & KYC law and don't see this as a bottleneck. For KYC we'll be utilising 3rd parties (we're looking at Jumio & Experian amongst others) initially to make this as efficient as possible from the offset. We'll also be logging a lot of data and a full paper trail in case of future legislative changes.
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4 points,28 days ago
Confirming that feedbands/dashinformer has agreed to the following:

Upon successful funding of this project, and upon successful completion and launch of a functional, reliable and well designed fiat exchange, Dashinformer will list this fiat exchange as the preferred fiat exchange for Dash for visitors in the UK. This means that UK visitors to Dashinformer will automatically be recommended this fiat exchange when they visit the site. Visitors from outside the UK will not see this recommendation.

This recommendation will only remain active as long as there are clear benefits to Dash on the exchange (homepage / dashboard exposure, exclusivity, etc).
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3 points,28 days ago
We would also like to note that the result of this would be driving traffic to a fiat exchange that strongly favor Dash versus an exchange that do not.
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4 points,28 days ago
I'm mystified as to why this proposal isn't gaining more traction, other than it's solely UK focused.
I don't see that as the issue more so that it's a just one more friction-free route into Dash regardless of the fiat coupling
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-3 points,28 days ago
He has no solid plan other then cc payments and we all know cc processor will and do shutdown anything crypto related.
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1 point,27 days ago
I don't know where you're based Mr Hack but there are services running via UK banks for a number of years but their margins are HUGE so this is do-able within UK banking. Also he's not just talking about CC payment but bank transfers - something Europe does a lot better than U.S I'd suggest so this service or comparable ones can and do work here already but this is far more attractive as a proposition than the current competition in the UK for newcomers at the very least
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0 points,26 days ago
The way coin base accepts cc is they underwrite their own MIDs( merchant ids) similar to paypal where they run their own aggregator high risk mids on their own gateways.
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1 point,26 days ago
Well thumbs up for coinbase but in those fabled lands beyond the U.S. I have heard tell of different banking practices.. Shocking I know! Smh
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1 point,26 days ago
He does have a point, we're a high risk merchant but it's an obstacle that's already been surmounted by others and there are multiple avenues/solutions open to us.
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1 point,28 days ago
We'll be pursuing multiple avenues for payment processing and the system will be built to seamlessly fallback to another processor with multiple payment libraries in place.

The fact is, there are many direct purchase and fiat exchanges which are managing just fine, we're just building this to make Dash as easy as possible for those in the UK to adopt by removing friction points that currently exist. We'll also be providing insight directly to the various Dash marketing teams to improve all marketing efforts.
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3 points,28 days ago
you got my support, good luck.
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5 points,29 days ago
Happy to see escrow and clear milestones. Reasonable monthly amount requested. If only all proposals met these basic requirements...
Let's see what you can do. You get a yes from me.
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5 points,29 days ago
I can confirm that the wallet address XmYhujGQVgUWdzXiTGbPbJVRH3jryAm3qg is the one provided by Dash Core for escrow purposes
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3 points,29 days ago
Great Project, you have my support.

8 months at 25 is too long, 50 for 4 months would be better..
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1 point,29 days ago
Ash good proposal good team well thought out only thing missing is the lack of fist funding information

Please clarify thank you
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1 point,29 days ago
Fiat*
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1 point,29 days ago
Good question, right so fiat funding will be done definitely by card payment (we have experience with multiple processors) and probably by bank transfer (if we can secure and hold UK accounts it will be faster payments, otherwise it will be an overseas account and SEPA/Swift payment)
We'll procure dash through the more complex methods and through supply partners and then once ready we'll add sales functionality so those with Dash in our system can sell it directly through it (although this would not be quite p2p as the buyer would never see the seller in this transaction).
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0 points,28 days ago
Ash, i would urge you to research banking options as overseas options can factor into delays that are way beyond normal operating times.

I would highly urge you to research this and resubmit proposal next month in advance of the deadline so there is plenty time to research and vote.
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0 points,28 days ago
Thank you, we have researched our options - the transfers through card payment will be instant and that is our core offering, whilst faster payments would be good to have they aren't a necessity. Certain avenues for faster payments can't be investigated thoroughly until company is formed & fca registered.
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1 point,29 days ago
Hi few questions

1) is there any operating bitcoin exchanges where you can buy bitcoin in UK?
2) if there is then why have you outlined a process which seems very exhaustive?
3) could the users not go to exchange X and then to bittrex or shapeshift or something to dash?
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1 point,29 days ago
1) Yeah absolutely, check out bittylicious, uphold, coinfox, coinbase, etc.
2) That's a recommended route to minimise fees, one very familiar with UK crypto adopters!
3) Yeah, that route is just an effective one, there are other avenues again each have their barriers in terms of fees, user experience, transaction times, etc.
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1 point,29 days ago
We're not reinventing the wheel here - it's absolutely possible for people to get Dash (we all have!) but we're making the route as simple and frictionless as possible and providing hugely valuable insight to Dash marketing teams.
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1 point,29 days ago
So a couple of marketers and a dev are going to solve a banking problem? What am I missing? How are you qualified?
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0 points,29 days ago
Initially we're not out to solve that banking problem, we're working with what is already out there (instant direct purchase of crypto currency with fiat) and creating a purpose built platform to do that in the UK with a focus on buying Dash with GBP. We're aiming to be the best solution to do that as to tie in with all other Dash marketing efforts.
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2 points,29 days ago
sounds like a very good project and essential for 2018.
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1 point,29 days ago
Shame the UK still has no banks that operate with bitcoin companys.

Revolute just added cryptocurrencys but only eth ltc and btc would have been great to add Dash it is by far the most userfriendly and easy way for someone new to get involved.
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1 point,29 days ago
There are various options open to us, but it's definitely something we'll have to surmount. The issue with Revolut is that you can't transfer cryptos in or out of it.
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0 points,29 days ago
Not open source? How can we be sure the validated software is the same as the live stuff? How can we validate patches you put in? Feels risky
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1 point,29 days ago
Hi Kevmate, could you clarify what you're asking here - we're also happy to have a full discussion (with our dev lead too) on discord.
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1 point,29 days ago
or telegram for that matter!
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0 points,26 days ago
i'm not part of dev, but i suppose i think there is nothing to stop the money being stolen. But maybe that's the case with all exchanges which are not decentralised.
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1 point,29 days ago
Looks good to me, don't love the 8 month spread of your budget tbh but the proposal justifies the mean for me anyway - voting yes
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1 point,29 days ago
Thank you, we did look into a few different ways to approach this and figured smaller amounts through escrow struck a good balance.
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0 points,29 days ago
*means
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0 points,29 days ago
you seem to have missed the focus on the most important part which is fiat to dash bit , how exactly will people buy dash from you , explain more about that , thats the most important thing
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0 points,28 days ago
He wants to accept credit card.. and hope the processors wont care or notice its for bitcoin purchases IMHO which to me is scary. May aswell donate the dash to homeless people
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3 points,29 days ago
Sorry that wasn't entirely clear - we'll be support card payments from the offset (via Stripe most likely) and ideally faster payments via UK bank transfer. We'll be complying with full anti-money laundering and know your customer law which means we'll be taking ID scans and only accepting payments from corresponding bank accounts.
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2 points,29 days ago
We'll also look at other payment methods where suitable and cost effective (for example: PaySafeCard, a top-up card available at over 600,000 sales outlets)
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-1 point,29 days ago
did you get a license from the paysafecard ?
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1 point,29 days ago
As mentioned, we'll look at the alternative methods and that's an example - we haven't made any significant inroads into investigating these yet. There are however plenty of options for fiat payment routes.
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0 points,29 days ago
Ash so essentially your stating that you currently have no banking relationships or even researched funding options to outline to MNO?

What happens if in two months time you hit a dead end?

Please provide some information so we can make an informed decision.. and to ensure that dash network gets its value for the dash. And not some half done product that is not deliverable.
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1 point,29 days ago
No problem, this thread is purely looking at payment methods outside our initial offering - card and potentially bank transfers. We're asking for a minimal amount to begin with to build our core product - dash purchases in the UK with minimal friction and marketing reports to Dash marketing teams.
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-2 points,28 days ago
start-ups who want to be freeloaders on dash , i am so tired of voting for start-ups , sorry guys , its a NO from me.
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-1 point,28 days ago
sorry, that was a bit rude , please come up with a proper plan and i will Vote yes , you just have 4 days , this is lot of pressure for MNOs
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1 point,28 days ago
Thank you for your feedback, we understand and respect your opinion on this, and that perception was always a concern for us - as well as a discussion we're completely open to having.

From the very start we've built this with Dash and DAO best interests in mind - our first email with the core team was to find out if it possible to offer equity to the DAO, which unfortunately it's not at this stage. We would be happy to give equity to the DAO whenever this function is added.

There is a big element of trust involved which we've done our best to earn; by only asking for a minimal amount in escrow through the core group with clear deadlines, being completely transparent from the offset and putting together a serious budget proposal.

Whilst I appreciate you wanting to work with established businesses, those conversations are most definitely on-going, but the two aren't mutually exclusive. With us we're building right from the start with Dash at our core, directly improving all dash marketing initiatives by providing valuable data and insight.

We've seen and experienced a massive friction point for UK dash adopters that has been corroborated by other UK dash advocates that we want to solve as well as a marketing opportunity that no other crypto has. It's an issue that needs to be solved to help Dash grow to where it belongs and along with the user education we'll be providing with our platform and the marketing integration there will be massive return on budget for Dash and MNOs like yourself.

I hope this clarifies things but like I said, we're a completely open team and happy to continue this discussion and figure out if there is more we can do to demonstrate our commitment to building something great for Dash
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1 point,29 days ago
supporting*
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-1 point,29 days ago
Stripe has just stopped accepting or supporting btc as of roughly 16 hours ago was on news.... So what will you do if stripe closes your account within first couple of days if they open one at all now.
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1 point,29 days ago
Okay so we aren't using stripe as a cryptocurrency processor, they are purely for payment (credit/debit card processing) and we'll have several available payment processors to drop in as necessary.
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-1 point,29 days ago
if you support UK bank transfer your bank account will get closed eventually , did you tell your bank you are buying dash/ bitcoin ?? once they figured out that they will shut you down . HSBC is the worst of the lot , i recommend getting Santander or FIDOR
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2 points,29 days ago
We won't be using personal bank accounts, we're investigating all options including clear.bank - a bank for FCA registered companies only (which we will be) or use of an intermediary clearing house.
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-3 points,29 days ago
Unless you come up with a solid fool proof solution , i think its not worth having an another exchange in place. as such banks are totally against exchanges, we need to fight them in a different way , using bank accounts is not going to help.

Come up with an alternative that banks can't shutdown
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-1 point,29 days ago
My point exactly it seems like a banking issue.. but i may have misread maybe they would like to become a 'dash brokerage' doing otc between fiat to dash themselves..

But then they would still need dash or btc or eth
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-2 points,29 days ago
like the team and the plan , just need strong vision to get around the bank account shutdowns
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2 points,29 days ago
Thanks for your input, we've considered all our options here and there are plenty of avenues (clear.bank, online processors, clearing house & intermediaries).

Whilst I agree navigating the banks can be difficult, our goal is to minimise friction for acquisition of Dash from fiat - an important part of which is accepting card and/or bank payments.

There are benefits to this beyond the exchange aspect (also worth noting our positioning is more direct purchase than exchange).
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0 points,28 days ago
You are being redundant with the same bit of information.

'clear.bank and clearinghouse intermederies/creditcard'

We've asked how you would handle shutdowns.

Once banks/processors notice large volumes of money and they dig which they will as they have risk management(underwriters)

You will get shutdown, how does the network realize its value.

1) how much of your money is on the line?
2) why will you not spend the few hundred gbp and incorporate if you strongly belrive in the project
3) what happens after 8 months and you have little to no volume?
4) will you just shutdown and move on?
5) what is your marketing budget beyond 8 months
6) if you have no budget beyond 8 months then you will be right back here asking for more funds or shutdown.

At the end of the day the value for dash network is very little.

i have personally on my own funds offered to visit you in the UK, so that i can best asses your pitch on behalf of the network and maybe even perhaps provide some funding for you when dao funding is depleted.


Otherwise sadly only a NO from me.
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1 point,28 days ago
Hi MrHack,

This proposal focuses on a top level, we'll be building redundancy into the system and pursuing multiple avenues for payment processing - there are many exchanges that accept card payment and we will do the same. The system will be as fault tolerant as possible to accommodate for any shut downs or freezes.

1) We're taking significant cuts to our wages and building a project for Dash that offers a lot of value for Dash.
2) Forming a company and getting a bank account isn't a problem, the FCA process is more long winded and complex and it doesn't make sense to go down that avenue until we're ready.
3) We've considered that outcome and there are a lot of avenues - we've even already discussed this with you regarding angel investment.
4) No
5) We've already discussed partnerships with Dash marketing teams and if ewallet is profitable which I see no reason why it wouldn't be, we can raise funds to grow it.
6) We above

The value to the Dash network is huge in terms of increasing adoption in the UK and providing marketing insight.

Thank you for your input.
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0 points,28 days ago
6) See above*
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-2 points,28 days ago
plain english please , no plan , No vote ...
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