Author Topic: New remittance DAC  (Read 2727 times)

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Offline underwun

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New remittance DAC
« on: August 14, 2014, 03:31:37 am »
We will be launching a fully funded remittance play with the backing of local Philippine business leaders, initially in the Philippines and then in other markets as we prefect the business model.

We have spend some months researching the environment, platforms and business models yet it was only recently we concluded how to upend the remittance market.

Part of our model demands rapid transaction times so Bitshares and Nxt are both in play as we make our final decision.

Whilst we have extensive experience in technology, business and the Philippine OFW market we realise we will NEED help in coming to terms with the chosen platform as speed is of the essence.

So we are interested in whether or not the Bitshares team and community can rally around our objective to succeed in changing the lives of millions of migrant workers, disinter-mediating the remittance parasites and getting behind a model where the final product will utilise the blockchain for millions of merchant transactions.

Finally we are intent upon supporting the ideals of Satoshi and the betterment of the community we create but rest assured we are focused on making money for us and those in our community.

Take care all and thanks for reading
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Offline jwiz168

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Re: New remittance DAC
« Reply #1 on: August 14, 2014, 03:38:23 am »
BTSX is itself a remittance DAC. why is it so big deal?

Offline underwun

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Re: New remittance DAC
« Reply #2 on: August 14, 2014, 03:49:44 am »
It will come down to the business model, execution and adoption.

No one has cracked this space for a multitude of reasons I wish BitsharesX all the very best.

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Offline jwiz168

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Re: New remittance DAC
« Reply #3 on: August 14, 2014, 04:19:48 am »
As I see it , your model would become centralized, exact opposite of what Bitshare is advocating.

Offline gamey

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Re: New remittance DAC
« Reply #4 on: August 14, 2014, 05:00:45 am »
Where is their business model listed? 

Most people are pretty open to discussing ideas and business plans by serious and sincere people.
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Offline nethyb

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Re: New remittance DAC
« Reply #5 on: August 14, 2014, 05:03:00 am »
Welcome, you've come to the right place to get a wealth of assistance if you can articulate the value and suitability of your idea to the Bitshares team and community to get official support...

Read this post to get you started on how to pitch your business case and potentially secure official support etc.

https://bitsharestalk.org/index.php?topic=2762.msg35501#msg35501

Quote
Quote from: bungeebones on February 10, 2014, 10:49:12 PM
How do I go about starting a DAC around the idea?

I suggest you write out your idea and business-model in a whitepaper and either present it to the community here or, if you want to keep it secret for now, send it to Invictus for review. Invictus are very much encouraging people to create their own DACs, so you're here at the right time.

One of the main purposes of Invictus, although it's not entirely clear yet, is to help people create their own DACs. If you join in on honoring AGS/PTS you can get:

•A stipend to work in one of our incubators for a period of time.
•The legal fees to set up your company in its chosen favorable jurisdiction.
•Fully equipped office space at one of our incubator sites.
•Forum and web site support while you build you own base of supporters.
•Crypto-savvy legal, accounting, financial and tax support.
•Use of our trusted escrow services while you are building your own reputation.
•Consulting with Dan “bytemaster” Larimer and our team of innovators.
•Help with finding opportunities to speak at a major conference.
•Promotional support integrated with our own global marketing campaign

See the Invictus February newsletter page 8-10 for more information.

http://gallery.mailchimp.com/ac6976e87d9e9f0eac4bbf19c/files/News_Letter_05_February_2014.pdf

Yes, and note that this includes help with forming your own company to develop and support your long product line of DACs!   :)



Offline underwun

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Re: New remittance DAC
« Reply #6 on: August 14, 2014, 07:16:33 am »
As I see it , your model would become centralized, exact opposite of what Bitshare is advocating.

Interesting observation, I wish I could see what others are thinking.
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Offline underwun

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Re: New remittance DAC
« Reply #7 on: August 14, 2014, 07:18:44 am »
Welcome, you've come to the right place to get a wealth of assistance if you can articulate the value and suitability of your idea to the Bitshares team and community to get official support...

Read this post to get you started on how to pitch your business case and potentially secure official support etc.

https://bitsharestalk.org/index.php?topic=2762.msg35501#msg35501

Quote
Quote from: bungeebones on February 10, 2014, 10:49:12 PM
How do I go about starting a DAC around the idea?

I suggest you write out your idea and business-model in a whitepaper and either present it to the community here or, if you want to keep it secret for now, send it to Invictus for review. Invictus are very much encouraging people to create their own DACs, so you're here at the right time.

One of the main purposes of Invictus, although it's not entirely clear yet, is to help people create their own DACs. If you join in on honoring AGS/PTS you can get:

•A stipend to work in one of our incubators for a period of time.
•The legal fees to set up your company in its chosen favorable jurisdiction.
•Fully equipped office space at one of our incubator sites.
•Forum and web site support while you build you own base of supporters.
•Crypto-savvy legal, accounting, financial and tax support.
•Use of our trusted escrow services while you are building your own reputation.
•Consulting with Dan “bytemaster” Larimer and our team of innovators.
•Help with finding opportunities to speak at a major conference.
•Promotional support integrated with our own global marketing campaign

See the Invictus February newsletter page 8-10 for more information.

http://gallery.mailchimp.com/ac6976e87d9e9f0eac4bbf19c/files/News_Letter_05_February_2014.pdf

Yes, and note that this includes help with forming your own company to develop and support your long product line of DACs!   :)

Thank you that was exactly what I was looking for, we will digest and revert.
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Offline underwun

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Re: New remittance DAC
« Reply #8 on: August 14, 2014, 07:23:50 am »
Where is their business model listed? 

Most people are pretty open to discussing ideas and business plans by serious and sincere people.

And at some stage we will but having studied the issue and lived in a major remittance market, driven product through to successful conclusion and having concluded previously there wasn't a viable model, I am not ready to share the realisation of how to succeed this early in the business cycle but I promise you this is the real deal.
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Offline jwiz168

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Re: New remittance DAC
« Reply #9 on: August 14, 2014, 08:09:13 am »
.....a fully funded remittance play with the backing of local Philippine business leaders, initially in the Philippines and then in other markets as we prefect the business model.

With this statement where can the delegates be with its consensus? How about the allocation of at least 10% for AGS/PTS? As I have mentioned , BTSX has already capable of doing money transfer. No need for a redundancy. As Ilocanos would say .... " isu met laeng "  ;D

Offline underwun

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Re: New remittance DAC
« Reply #10 on: August 14, 2014, 09:48:24 am »
.....a fully funded remittance play with the backing of local Philippine business leaders, initially in the Philippines and then in other markets as we prefect the business model.

With this statement where can the delegates be with its consensus? How about the allocation of at least 10% for AGS/PTS? As I have mentioned , BTSX has already capable of doing money transfer. No need for a redundancy. As Ilocanos would say .... " isu met laeng "  ;D

Patience  :) if we took the attitude that money transfer for remittances was already addressed why do we need anything but Bitcoin?
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Offline toast

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Re: New remittance DAC
« Reply #11 on: August 14, 2014, 03:17:15 pm »
Volatility? With BTSX you can send BitUSD, BitEUR, etc. as if it were bitcoin.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline underwun

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Re: New remittance DAC
« Reply #12 on: August 15, 2014, 02:31:11 am »
Volatility? With BTSX you can send BitUSD, BitEUR, etc. as if it were bitcoin.

If that were the fundamental issue preventing crypto-remitances I would agree that BTSX has an innovative answer to an important question.

Make no mistake we are fans of Dan and the team's work, hence our reaching out for dialogue but the keys to the holy-grail of remittances are many and there remains mutliple boxes to tick.

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Offline Gentso1

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Re: New remittance DAC
« Reply #13 on: August 15, 2014, 02:55:53 am »
We will be launching a fully funded remittance play with the backing of local Philippine business leaders, initially in the Philippines and then in other markets as we prefect the business model.

We have spend some months researching the environment, platforms and business models yet it was only recently we concluded how to upend the remittance market.

Part of our model demands rapid transaction times so Bitshares and Nxt are both in play as we make our final decision.

Whilst we have extensive experience in technology, business and the Philippine OFW market we realise we will NEED help in coming to terms with the chosen platform as speed is of the essence.

So we are interested in whether or not the Bitshares team and community can rally around our objective to succeed in changing the lives of millions of migrant workers, disinter-mediating the remittance parasites and getting behind a model where the final product will utilise the blockchain for millions of merchant transactions.

Finally we are intent upon supporting the ideals of Satoshi and the betterment of the community we create but rest assured we are focused on making money for us and those in our community.

Take care all and thanks for reading

As someone who has been to the Philippine's Its a perfect place to start. Remittance is a way of life for locals and ex-pats that have settled there. Oh and did I mention the high fees.

Will you operate a local exchanger? If so what city will it be out of? The key, I believe to this idea is that there will have to be a local exchange for people to cash out of. With the family based culture their and sometimes few working family members, most of these people live check to check. So if you can give them a place to cash out for less fees It will be a huge success. 

Offline jwiz168

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Re: New remittance DAC
« Reply #14 on: August 15, 2014, 03:12:04 am »
Volatility? With BTSX you can send BitUSD, BitEUR, etc. as if it were bitcoin.

If that were the fundamental issue preventing crypto-remitances I would agree that BTSX has an innovative answer to an important question.

Make no mistake we are fans of Dan and the team's work, hence our reaching out for dialogue but the keys to the holy-grail of remittances are many and there remains mutliple boxes to tick.

BTSX can do it  with superiority ... just watch how bitAssets and snapshots from BTS would also exchange crypto to fiat. 

Offline luckybit

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Re: New remittance DAC
« Reply #15 on: August 15, 2014, 08:19:04 am »
As I see it , your model would become centralized, exact opposite of what Bitshare is advocating.

Interesting observation, I wish I could see what others are thinking.
Don't listen to that comment.

But if you want to get our support you first have to outline what you intend to do. You also have to abide by the social consensus which is a minimum 10% of shares to PTS and 10% to AGS. The more you move toward 50/50 the greater the support you're likely to receive from us.

In order to answer your questions we need to know your business plan. The technology for Bitshares is out there in the Bitshares toolkit and it appears to be working.

Centralized or decentralized isn't the key issue. The key issue is while a lot of us support your goal we need an outline of the plan before we can help.

https://github.com/BitShares/bitshares_toolkit/
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Offline jwiz168

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Re: New remittance DAC
« Reply #16 on: August 15, 2014, 08:29:23 am »
Everybody here has its opinion for the welfare and goodness of Bitshare ecosystem. Nobody can suppress every statement like a jackass.

Offline underwun

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Re: New remittance DAC
« Reply #17 on: August 15, 2014, 12:09:34 pm »
As I see it , your model would become centralized, exact opposite of what Bitshare is advocating.

Interesting observation, I wish I could see what others are thinking.
Don't listen to that comment.

But if you want to get our support you first have to outline what you intend to do. You also have to abide by the social consensus which is a minimum 10% of shares to PTS and 10% to AGS. The more you move toward 50/50 the greater the support you're likely to receive from us.

In order to answer your questions we need to know your business plan. The technology for Bitshares is out there in the Bitshares toolkit and it appears to be working.

Centralized or decentralized isn't the key issue. The key issue is while a lot of us support your goal we need an outline of the plan before we can help.

https://github.com/BitShares/bitshares_toolkit/

Thank you and I fully understand.
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Offline Gentso1

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Re: New remittance DAC
« Reply #18 on: August 16, 2014, 12:39:19 pm »
Any comments on the use of setting up a local exchange for people to cross the digital back to fiat divide?

Once the system is more developed hopefully users will just keep bitusd or whatever asset they choose(and have the option of using said asset directly with a merchant). Even better offer a exchange/store all in one place where people could use there assets right their on the spot without receiving dirty fiat.It wouldn't need to be huge (at first) but it would offer the basic's, real world goods or receiving hard pesos. To develop the idea you could get together with some local business leaders and have them agree to accept bitpesos or bitusd directly.

If you make it cheaper/easier faster then Wu with the ability to cash out this would get big quick.

Offline underwun

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Re: New remittance DAC
« Reply #19 on: August 17, 2014, 02:20:16 am »
Any comments on the use of setting up a local exchange for people to cross the digital back to fiat divide?

Once the system is more developed hopefully users will just keep bitusd or whatever asset they choose(and have the option of using said asset directly with a merchant). Even better offer a exchange/store all in one place where people could use there assets right their on the spot without receiving dirty fiat.It wouldn't need to be huge (at first) but it would offer the basic's, real world goods or receiving hard pesos. To develop the idea you could get together with some local business leaders and have them agree to accept bitpesos or bitusd directly.

If you make it cheaper/easier faster then Wu with the ability to cash out this would get big quick.

Thank you Gentso good advice
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Offline fuzzy

Re: New remittance DAC
« Reply #20 on: August 17, 2014, 02:35:25 am »
Any comments on the use of setting up a local exchange for people to cross the digital back to fiat divide?

Once the system is more developed hopefully users will just keep bitusd or whatever asset they choose(and have the option of using said asset directly with a merchant). Even better offer a exchange/store all in one place where people could use there assets right their on the spot without receiving dirty fiat.It wouldn't need to be huge (at first) but it would offer the basic's, real world goods or receiving hard pesos. To develop the idea you could get together with some local business leaders and have them agree to accept bitpesos or bitusd directly.

If you make it cheaper/easier faster then Wu with the ability to cash out this would get big quick.

Thank you Gentso good advice

the philippines is full of two things, street vendors and cell phones.  These two things matter a great deal and should not be overlooked.  However, for remittances to the philippines will require that filipinos(as) working oitside the country have a means of transferring fiat payment to a cryptocurrency.  This would be another consideration.  Lets chat about this sometime on the mumble?
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