Uber-like Cryptocurrency Teller App
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Transcript of Uber-like Cryptocurrency Teller App
![Page 1: Uber-like Cryptocurrency Teller App](https://reader030.fdocuments.us/reader030/viewer/2022013004/587330d71a28ab596c8b69bf/html5/thumbnails/1.jpg)
A Distributed Teller App
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Part 1 – Business Model
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The Problem that needs a solution
Wanted to buy a Gogoro scooter Only had the money in bitcoin and then wanted to change that bitcoin
into cash I aggressive sought bitcoin buyers through meetup.com
Some of you probably remember my spammy emails Realized that there’s generally a problem with getting access to cash Thus, comes the problem of liquidity
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The Problem that Needs a Solution
Liquidity Liquidity describes the degree to which an asset or security can be quickly
bought or sold in the market without affecting the asset's price.
Read more: Liquidity Definition | Investopedia http://www.investopedia.com/terms/l/liquidity.asp#ixzz4K8V6gHhf Follow us: Investopedia on Facebook
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Turning Cryptocurrencies to cash
PayPal bank transfer to E. Sun Bank Wire transfers
Bitcoin version CEX.IO
Traditional route Bitcoin debit card
XAPO Bitopay – company that is native to Taiwan
Bitcoin ATM There are none that can turn anything into cash
LocalBitcoins.com Few users in Taiwan
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The two closest ideas are LocalBitcoins & GoAbra I’d like to combine the strengths of both of these approaches
Localbitcoins.com for everything Problem to be solved – not really localized
GoAbra location based teller model
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Legend for the following Graphics
Icon Meaning
Teller/Cryptocurrency Holder
Remittance/ Cash User
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LocalBitcoins.com Scope of Services
¥/B/Cc $/B/Cc
Cross-border Cryptocurrency
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The GoAbra Model
$¥ GoAbra’s own Cryptocurrency
$$$$$$$$
$
$$$
$$$$$
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Benefit of their approach
I believe that they peg their cryptocurrency for stable exchange rates Perhaps they have a dynamic money supply algorithm to control the
value of the coins
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Together in One Region
¥/B/Cc
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¥/B/CcCNY/B/Cc
JPY/B/Cc$/B/Cc
Cross-border Cryptocurrency
Cross-border Cryptocurrency
Cross-border
Cryptocurrency
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The Cryptocurrency Holder as a Cash Teller
Receive Cryptocurrency Transfer Cryptocurrency
Nearest to
Location
Receives Transfer
Gives Cash
User Broadcasts
Request
Teller Accepts
Receives Cash
Transmits Currency
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Uses of this model
Localization Service
Localized Cryptocurrency Exchange
Remittance
Costless Transfers
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Problem 1- Liquidity
Liquidity
Ease of Currency to
Cash Conversion
Ease of Commodity Conversion
Ease of Service
ConversionEfficient
Access to user base
Expansion of user base
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Expansion of User Space
Remittance Users
Alt Coin Holders
Bitcoin Holders
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Part 2 – How Would the App Work?
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What The Apps Should Achieve
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Business Model
RemitLocation 1
Cash SenderLocation 1
Teller
Cryptocurrency Transfer
Location 2 Teller
Location 2 Cash Receiver
Cash ExchangeLocation 1
Cash Sender
Location 1 Teller
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Need 2 Apps
Cash Sender/Receiver• Cash holder
Cryptocurrency Sender/Receiver• Cryptocurrency
Holder
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Potential Names for Each App
BYoC BYoB
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Cash Exchange
¥ BI want
Bitcoin!I want Cash!
Broadcast Accepts
Escrow
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Proposal for the app’s functions - Remitting
$ ¥
BroadcastFind TellerFind Teller Teller
AcceptsTeller
Accepts
B B¥
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The User ExperiencePart 1: The Cash User
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Buying Cryptocurrency with Cash
Define Security Measure•KYC•Verification Process•Registered
Filters•Amount•Security preferences•Distance
Broadcast Request
Wait for Teller to Accept•*money placed in escrow•Messages to confirm
Meetup at Defined Location
Cc Buyer Presses Paid
Cc Disburses to the right wallet
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Remittances
Define Security Measure Filters Send Request to
Receiver
Receiver Accepts•Security Preferences•Filters
Cash Sender and Receiver
both Broadcast to Tellers
Tellers Accept•*Cc Sender Cc placed in escrow
Cash Sender goes to Defined
Location
Cc Sender Presses
Received
Cash Receiver Presses
ReceivedCc released to Cc Receiver
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Part 3 - Layers of the App
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On the Tech side, what’s necessary?
Back-end
Data
Collaboration
Business Logic
Security
Front-end
Container
Device Data Layer
Off Syncing
User Experience
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Still in the Process of Crowdsourcing Ideas on the previous slide: