Implementing SAT2 06-06-201411:00 a.m.Alston 260

Meeting called by: Kim Campbell (Assoc Dean) Type of meeting: Facilitator: Kim fgfdgdfggf Note taker: fgdfgfdgfdgfdgdfgfdgdfAttendees: Linda Parssons, Shane Underwood, Denise McManus, James King, Brian Gray, Luther Knoflauch, Samuel Samson.Please read: 2014(summary), HH1, HH2, HH4.

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--Brief summary of additional products and services--

On May 25, 2011, we released FiSync integration, which aims to allow instantaneous transactions instead of the typical 2–3 day of the Automated Clearing House (ACH) transactions. As of June 2011, we have 11 financial institutions who have signed on, providing access to 600,000 potential customers.

In June 2011, we started Grid, for attendees who don't know: a service that allows a user to avoid entering their credit card information online, while reducing credit card fraud, and being a simple one-click option, similar to Facebook Connect. Grid uses the OAuth standard.

Our main service to people is that they use a bank account-based payment system, and charge a flat fee of $0.25 per transaction over $10 instead of a percentage. Credit card payment systems charge up to 3.5% of the total amount of the transaction to process those kinds of online payments.

As of April 2013, the Iowa Department of Revenue allows businesses that pay cigarette stamp taxesto now use Dwolla as a method of payment :), helping reduce the time payments take as well as reducing processing costs.Iowa Gov. Terry Branstad announced on 6th Jan, 2014 that the state will expand the partnership to allow customers of Iowa Department of Transportation to pay fuel tax andvehicle registration costs online using the low-fee service (more :):):):)).

--Bitcoin implementation-- (oct 2013)– We are notable for our interest among users of Bitcoin, a digital currency. Some Bitcoin exchanges allowed users to buy Bitcoins with dollars transferred to the exchange via Dwolla, and allow users to sell Bitcoins and have the proceeds transferred back to them using our services. Although [Paul Milne, and some other names] have said that they saw growth due to Bitcoin users, we do not offer any official endorsement of Bitcoins. According to […......................................] we ceased dealing with bitcoin exchanges in October 2013.

--Implementing SAT2However, we think using a digital currency to expand our services is something inevitable – over time. What are the future possibilities and opportunities concerning SAT2/Dwolla? – SAT2 transaction speed is 4x faster than Bitcoin. (SEE SWOT-ANALYSIS) – Wider government and commercial acceptance is an important goal.Progress is being made [paujk & leo zwartenburg] of SAT2 team will give a presentation, together with our developers, about the possibilities of implementing this digital currency. Also they will