The business model for Hosted Wallet Provider

[santaclause102]

Is it possible to sign up users without licensing something from Cryptonomex (just by upgrading one's account)?

Would it be possible for some other development company to come along and offer the same sign up for licensing services cnx provides for Bitshares?

sure and of course

+5%

[xeroc]

Is it possible to sign up users without licensing something from Cryptonomex (just by upgrading one's account)?

Would it be possible for some other development company to come along and offer the same sign up for licensing services cnx provides for Bitshares?

sure and of course

[santaclause102]

Is it possible to sign up users without licensing something from Cryptonomex (just by upgrading one's account)?

Would it be possible for some other development company to come along and offer the same sign up for licensing services cnx provides for Bitshares?

[bytemaster]

Stan, do you not worry that by licensing the software and retaining direct ownership of it you have a greater likelihood of coming under regulatory pressure, like Ripple did when they were asked to modify their network to add KYC checks into it? Its a lot easier to argue that the community is in control of what goes into BitShares if all its software is GPL.

The community is in full control of the protocol and the C++ code will be BSD licensed for BTS use.    The wallet will even ben BSD licensed for BTS use.

The software we are licensing to our partners will have extra KYC checks and will conform to regulations.   This software is merely one of many potential interfaces to BTS.

[speedy]

Stan, do you not worry that by licensing the software and retaining direct ownership of it you have a greater likelihood of coming under regulatory pressure, like Ripple did when they were asked to modify their network to add KYC checks into it? Its a lot easier to argue that the community is in control of what goes into BitShares if all its software is GPL.

[Stan]

Anyone will be able to have a "privately hosted" and "manually upgraded" wallet by:

1. cloning a github repo containing static files and then visiting   ${username}.github.io
2. configuring the javascript to connect to a "full node" of your choice.

This wallet will not be integrated with a faucet and thus be unable to sign up new users and therefore unable to participate in the referral system. 

If you want the server code for the faucet and automatic signup then you must license that from us.

i hear the first time of this. I was under the impression, that anyone will be part of the referral program. So this is not true! But how  is then the fee structure for this kind of wallet and who will be this "full nodes"?

Is a full node any delegate?

Anyone can be part of the referral program.  Get signed up, become a full member, and figure out how to sign up others efficiently.
(You can do it manually going door to door if you want to.)

One of the ways we earn money is providing tools that help others who would rather not develop their own automated methods.
This opens the doors to anyone with the ability to influence others to sign up, from a talk show host to a street preacher to a celebrity rock star. 
Use our tools or tools provided by our competitors or develop your own.

Alpha geeks can team with seminar organizers.
Wallet developers can team with Sham WOW salesmen.
And busy entrepreneurs can team with us.

[Shentist]

Anyone will be able to have a "privately hosted" and "manually upgraded" wallet by:

1. cloning a github repo containing static files and then visiting   ${username}.github.io
2. configuring the javascript to connect to a "full node" of your choice.

This wallet will not be integrated with a faucet and thus be unable to sign up new users and therefore unable to participate in the referral system. 

If you want the server code for the faucet and automatic signup then you must license that from us.

i hear the first time of this. I was under the impression, that anyone will be part of the referral program. So this is not true! But how  is then the fee structure for this kind of wallet and who will be this "full nodes"?

Is a full node any delegate?

[bytemaster]

Typical arrangement is to share revenue with us 50/50

[merivercap]

Anyone will be able to have a "privately hosted" and "manually upgraded" wallet by:

1. cloning a github repo containing static files and then visiting   ${username}.github.io
2. configuring the javascript to connect to a "full node" of your choice.

This wallet will not be integrated with a faucet and thus be unable to sign up new users and therefore unable to participate in the referral system. 

If you want the server code for the faucet and automatic signup then you must license that from us.

Ok.  It goes without saying most people who are building a Hosted Wallet solution is incentivized by the referral system.  What are their choices in setting up the server code & faucet?  Is the only way to participate in the referral system having a license from Cryptonomex or is it an option to create the server code & faucet from scratch?  What are the typical arrangements/cost for the license?  Thanks.

[bytemaster]

Anyone will be able to have a "privately hosted" and "manually upgraded" wallet by:

1. cloning a github repo containing static files and then visiting   ${username}.github.io
2. configuring the javascript to connect to a "full node" of your choice.

This wallet will not be integrated with a faucet and thus be unable to sign up new users and therefore unable to participate in the referral system. 

If you want the server code for the faucet and automatic signup then you must license that from us. 

[Shentist]

it seems a tough question - no one can answer it?

to sum the questions up

1. if someone wants to start a wallet provider business - does he has to license the wallet from Cryptonomex?
2. if yes under which conditions
3. if yes - why is the wallet not open-source?

if no one can answer it, maybe fuzzy can ask on  the friday mumble session this questions.

[xeroc]

The wallet is all-javascript and connects to a plain full node via websocket .. nothing extra is required.

Question would be if you could install the web-wallet for commercial use without licensing it ..

[Shentist]

if i understand it correct, you have to "license" the wallet from Cryptonomex and make a fee sharing agreement with them to do it.

so not for everyone possible.

Or I can build the hosted wallet infrastructure myself, as bitsapphire did with the moonstone wallet.
Yes, I am aware of this but first I need to understand how the HWP business is going to work in terms of possible competition and revenue streams.

@bytemaster or @Stan - could you shed some light on this?
If we all agree we need a rich ecosystem around BitShares 2.0, it's time to clearly define the rules so that these businesses have time to be set up and start operating soon after 2.0 is launched.

[/b]

i agree! more clarification would be nice. Because before the mumble session i was not aware that the bitshares wallet Cryptonomex is building is also to be licensed.

[jakub]

if i understand it correct, you have to "license" the wallet from Cryptonomex and make a fee sharing agreement with them to do it.

so not for everyone possible.

Or I can build the hosted wallet infrastructure myself, as bitsapphire did with the moonstone wallet.
Yes, I am aware of this but first I need to understand how the HWP business is going to work in terms of possible competition and revenue streams.

@bytemaster or @Stan - could you shed some light on this?
If we all agree we need a rich ecosystem around BitShares 2.0, it's time to clearly define the rules so that these businesses have time to be set up and start operating soon after 2.0 is launched.

[Shentist]

if i understand it correct, you have to "license" the wallet from Cryptonomex and make a fee sharing agreement with them to do it.

so not for everyone possible.