The touch point when it comes to ACH is the delay.
ACH is cheaper because its slower.
It's like attaching a Lamborghini Huracán to a horse and buggy. You can all figure out which one in my analogy is the Huracán.
The 'good news' is that only recently (like a few months ago) they have moved to some transactions being processed 'same day'. Still a bit of a contrast to our 1 second block time.
There are two elements to this.. you need an ODFI and an Operator.
What you want 'ideally' so we can wack the buggy, set the horse free, and put a Lamborghini Veneno along side the Huracán is to have the ODFI and Operator to be one and the same... because ultimately its the clearing house that will determine the speed it gets to the RDFI.
Currently there are only a few Operators used by everyone and thus impacts the timing.
This is going to put the ODFI/Operator to the the BitShares network in a liability position that needs to be handled correctly, not just for compliance, but for security. Keep in mind when the banks mess up, they just need to make some phone calls to whom ever was on the other end and reverse the mistake. In interfacing with BitShares though.. that's not an option.. and that creates a significantly higher risk profile. Which is why so many of the current solutions work with mega delay. HOWEVER... we are anticipating a solution that could be engineered to minimize this liability thanks in part to some 2.0 features coupled with a little more engineering on our part. We cannot confirm any of this of course until we got 2.0.
You also have to consider the costs. It will double up on the transaction charges since there will be BitShares charging and then the ACH processing.
Not saying it can't be done or it will be too expensive.. just depends what degree of service will be expected and how much it will take to deliver on it.
I only know all this because of the work we are doing in regards to what BunkerDEX is offering and our Rewards and another yet announced product.
I am not saying that we have the final solution 'now'... but I am working on it. There are some creative ways this can be accomplished.
This will be necessary in the mean time until we can close the loop (ie. all transactions in the DEX).
FYI ACH includes US, it's territories, and Canada.
I am sure you got lots of peeps to talk with now Stan... but I would be happy to help out however I can if the need arises.
@Shentist - Yes.. ACH is US own inter-bank transfer system.. while most of the rest of the world uses SWIFT. Kinda like how we all use metric and US still uses imperial
Canadian banks use SWIFT also.. so Canada is uniquely positioned to be able to talk to both networks and provide BitShares on/off ramp for both... and nuclear bunker hardened security to boot if we have anything to do with it.
Oh and Holy Shanaynay this is awesome!