Opportunities in red pocket money transmission, Chinese new years

[MrJeans]

This is what I was talking about:

http://www.coindesk.com/bitcoin-micropayments-debut-on-new-wave-of-chat-platforms/

[fuzzy]

"WeChat which allows users to send / receive the red pocket money by linking up their bank accounts to WeChat.
Going beyond a traditional festive greeting or sticker, the app went viral overnight. The number of WeChat users who linked up their bank accounts increased from 30 million to 100 million in just one day"

"iResearch. According to research firm Analysys, the total volume of transactions in China's third-party mobile payments market reached CN¥7.77m in 2014, which is a 500% increase over the last 12 months."

Thought the community may be interested in this. *cough cough bitCNY

http://asianinsight.racepointglobal.com/post/76181039647/did-you-get-your-red-pocket-on-your-wechat-this

http://www.ibtimes.co.uk/chinese-new-year-2015-alibaba-challenges-tencent-wechat-188m-money-giving-lottery-1488460

MrJeans...Air dropping positive vibes.

[xiahui135]

Perhaps a paper wallet type solution where users can just download the bishares wallet app and recover their gift of bitCNY.

A service where WeChat users in China send red-pocket money to a WeChat account, this account sends them the same amount back in bitCNY in the form of some kind of paper wallet. They can then send this bitCNY to family/friends overseas.

it is too complicated. They can send money directly to friend or farmily's Wechat account.
Wechat have 0.5 billion of users, and it not possible for Wechat to support BTS officially. What we can make use of from Wechat, is the open api. Such as someone received CNY in Wechat, and he want to withdraw USD. He can send this to an account, then the account send him the BitCNY or bitUsd.
It is only international money transfer that bitasset will help. I suggest we concentrate on this, just like ripple do.

Or someone can directly withdraw money to a USD bank account after sending CNY, they just not need to know BTS, even bitasset.

[xiahui135]

Perhaps a paper wallet type solution where users can just download the bishares wallet app and recover their gift of bitCNY.

A service where WeChat users in China send red-pocket money to a WeChat account, this account sends them the same amount back in bitCNY in the form of some kind of paper wallet. They can then send this bitCNY to family/friends overseas.

it is too complicated. They can send money directly to friend or farmily's Wechat account.
Wechat have 0.5 billion of users, and it not possible for Wechat to support BTS officially. What we can make use of from Wechat, is the open api. Such as someone received CNY in Wechat, and he want to withdraw USD. He can send this to an account, then the account send him the BitCNY or bitUsd.
It is only international money transfer that bitasset will help. I suggest we concentrate on this, just like ripple do.

[MrJeans]

Perhaps a paper wallet type solution where users can just download the bishares wallet app and recover their gift of bitCNY.

A service where WeChat users in China send red-pocket money to a WeChat account, this account sends them the same amount back in bitCNY in the form of some kind of paper wallet. They can then send this bitCNY to family/friends overseas.

[infovortice2013]

but this centralized application allows wechat have delegates?

[xiahui135]

Does it have chargebacks? How high are the fees? Is this an opportunity for a gateway into BTS accepting this payment method in China?

all deposit and withdraw for average people in CNY is free, and it is very smooth. I do not think BitCNY will work better than these centralized application.
So i think bitCNY can be a method of   international money transfer tool and work as smooth as the central ones. Such as international red pocket. And bitshares can be a partner of these platforms as a decentralized bank easily supporting international money transfer.
I hope bitshares one day can make it easy for average peopel to use. People just open their wallet, they can check their "fiat" balance directly, withdraw, deposit, and pay(for consume, red pocket, etc.).  they just need to know it is safe and helpful, need not to know BTS.

[Troglodactyl]

Does it have chargebacks? How high are the fees? Is this an opportunity for a gateway into BTS accepting this payment method in China?

[xiahui135]

hundreds of millions of people join the game of online red pocket. This kind of game is funny with some money to be media of people communication.

[xiahui135]

It is too late this year, maybe you can prepare to 2016 year. There are billions of transaction just because of red pocket these days.

[MrJeans]

Wechat is a social networking IM tool majorly run on smart cellphones developed by tencent (QQ's inventor)   , it already has 0.4 billion users .

It's hard to copy that .

Even Cass is using Wechat now  :P

Ya we cant create a new communication app just to add transactions to it. But perhaps we can leverage existing platforms and build apps that work ontop of it.

[btswildpig]

Wechat is a social networking IM tool majorly run on smart cellphones developed by tencent (QQ's inventor)   , it already has 0.4 billion users .

It's hard to copy that .

Even Cass is using Wechat now  :P

[MrJeans]

Perhaps if we can somehow link up with a social network or provide tools/apps that can be linked to social networks.

I believe China would be the best place to target as trends and interest spread very quickly and at a national level over there, it is fascinating.

[cass]

wow - thx for sharing!  +5%

[yellowecho]

 +5% Sounds promising.  Anyone from the Chinese forum familiar or can provide feedback?