Creating a fiat gateway

[Ravid]

Seriously, no one knows?
@xeroc @pc @abit @bitcrab  guys, I'm trying to start a business here and bring more people to the platform

To get your new gateway you need to create your smart coin and ask witnesses or people you select (trustworthy) to feed the prices. Then you need to have a developer modify the GUI (https://github.com/bitshares/bitshares-ui) to fit your business needs. The bottom line here is that you need to have someone knowledgeable write the code for your gateway, there is no "out the box" solution for it. All our gateways are custom written by the owner companies (OL, Blocktrades, Rudex etc.). And you can  add your language here:  https://github.com/bitshares/bitshares-ui/tree/staging/app/assets/locales

Good luck with the Gateway and your new business.

Thank you very much!

Okay, so I show my dev the desktop wallet and tell him to make me a website that roughly looks like that. There I can add whatever language I want. What programming language should he know in order to be able to feed everything from the blockchain? C? Java? Maybe I should just go to the OL guys and buy it from them...

Regarding the smartcoin - can a smartasset be made in the way that does not allow borrowing? I don't want people to make a ton of money from trading and then come to me claiming money I don't have. I guess I need someone to walk me through the differences between UIAs and smartcoins and find the most suitable one.

[sahkan]

Seriously, no one knows?
@xeroc @pc @abit @bitcrab  guys, I'm trying to start a business here and bring more people to the platform

To get your new gateway you need to create your smart coin and ask witnesses or people you select (trustworthy) to feed the prices. Then you need to have a developer modify the GUI (https://github.com/bitshares/bitshares-ui) to fit your business needs. The bottom line here is that you need to have someone knowledgeable write the code for your gateway, there is no "out the box" solution for it. All our gateways are custom written by the owner companies (OL, Blocktrades, Rudex etc.). And you can  add your language here:  https://github.com/bitshares/bitshares-ui/tree/staging/app/assets/locales

Good luck with the Gateway and your new business.

[pc]

I'm not familiar with the procedures for the UI. Perhaps open an issue in the https://github.com/bitshares/bitshares-ui repo and talk to Bill Butler and/or svk.

[Ravid]

Seriously, no one knows?
@xeroc @pc @abit @bitcrab  guys, I'm trying to start a business here and bring more people to the platform

[Ravid]

Anyone knows the answer to question number 2?

Additional question: how can I add another language to the wallet? Can one of the devs send me a text file with all the wording in english and I'll translate it, send it back and it'll get added in the next update?

[yvv]

Yes, asset creation fee is a little over the roof at current price, even the cheapest one (>5 characters).

[Ravid]

Pegging is trivial in this case: 1 shekel UIA equals to 1 shekel, because it is backed by 1 shekel in bank account, but you will need to make market for your UIA on DEX to make it useful and this requires additional reserves.

How in the world do you know it's shekel? And stop telling everyone, I don't want people stealing my ideas! lol
For the additional resources it looks like I'll have to find an investor, do you have an approximate idea how much resources it usually takes?

I am looking at the UIA creation page in the wallet right now and the fee is 97,117 bts, at current rate it's $43702.65. Why is it so high? How am I supposed to work with that?

[yvv]

Pegging is trivial in this case: 1 shekel UIA equals to 1 shekel, because it is backed by 1 shekel in bank account, but you will need to make market for your UIA on DEX to make it useful and this requires additional reserves.

[Ravid]

Hey guys,
I want to create a fiat gateway to the Bithsares DEX and I have a few technical questions:
1) In order to facilitate the entry I am going to create a UIA that will be backed by fiat in dedicated bank account (kinda like Tether, but honest and really backed). Can this UIA be pegged to the real currency price? (I don't want it to be a smart asset because I don't want users to create it by collaterising BTS - the amount in circulation have to be less or equal to the amount in the bank)
2) How does this UIA gets added to the exchange? I want it to have its own tab, like BitBTC, BTS etc.
3) How does the trading starts? I create the UIA, someone deposits money in my bank account, I send them their coins and then what? Why would other people want to sell their assets for a coin that was just created?

Thanks!