The Dash Core Team is recruiting for a new Director of Business Development and I have some ideas for the new person to work on. I am sure these are high on everyone’s list and overtures have been made – but I can hope can’t I.
bitpay.com
My first dream integration would be bitpay.com. While it is unlikely that this will happen as they seem to be bitcoin maximalists – we can hope. The Dash community knows that Dash is really a much better version of Bitcoin than BTC or BCH or any new forks will be.
Payment Processing
BItpay is the number one bitcoin payment processor. They give any business the ability to accept Bitcoin and immediately transfer it into “national currency” and deposit it (100% or keep some % of bitcoin) into a local bank account.
BitPay’s Bitcoin Payments Volume Grows by 328%, On Pace for $1 Billion Yearly – is the headline posted on the bitpay blog earlier this month. That is a lot of Bitcoin transactions especially in this time of very high transaction fees – digging in the main growth seems to come from business to business with larger value transactions. But there is also still growth in the retail level.
Major electronics retailer and long-time BitPay merchant NewEgg has more than doubled its bitcoin sales from last year. Other flagship BitPay merchants have also enjoyed a prosperous year, with many merchants receiving over a $1M a month in payments from customers. Precious metals broker JM Bullion gained nearly $4M in bitcoin sales in the month of June alone.
Integrations
Bitpay has over 40 “major” integrations to make their service easy to “add into” existing business workflows.
Bitpay POS integrations
Besides their own app you can integrate with a number of existing POS systems and many of the major online shopping services in addition to extensive code libraries for further integration.
Bitpay Card
Bitpay also offers the “bitpay card” – a prepaid Visa debit card. Yes it is available in all 50 US states and Europe.
Secure Wallet
Bitpay also offers a Bitcoin wallet – they are the developers of the open source copay wallet that Dash is now working with.
Bitpay Summary
Bitpay got started in 2011. The basket of services and integrations they have developed in that time make them the stretch goal for Dash. Even if Dash can’t convince bitpay to fully integrate “Dash Digital Cash” into their system the services they offer are what we need to take Dash to the next level. Can we buy into or build the same level services? I am certain it can happen the only question is how and when.
Coinbase / GDAX
The other dream integration that Dash really needs is a “major” exchange that is focused on the US market. I am all for peer to peer applications and ATM networks but for real growth we need one of the majors. They can provide real liquidity and integration into the legacy banking system. For day-to-day business you want to be able to move into or out of Dash when you are ready and without having to disrupt normal business flows.
Coinbase also offers merchant services like bitpay.
Coinbase also has extensive code resources that can make it much faster, easier and more secure to build applications and integrations.
Conclusion
Full integration into both bitpay and Coinbase would be an enormous boost to adoption of Dash. While Dash should be trying to make it happen – we should also be working on the components of the successes of these services trying to weave together Dash versions that can move Dash more into the mainstream.
I am not 100% use if we will be added. Dash quite recently stated that we are aiming to become a paymentplaform.
I personally believe in time we may have setup our own version of bitpay, and coinbase, further more the owners of these entity’s should and will become legally owned my masternode owners, and masternode share owners.Which will further increase profit and funds for the network to grow.
I believe that are quite a few hurdles ahead of dash reach does goals but I envision Dash can accomplish, espically when have a 10x marketcap, it will become in range of our budget.
I fully agree with you Joe. Yes we can surely make our own duplicates of those types of systems, and maybe we should even if we do partner with these big companies. Yet they have one thing that helps more than anything… well established brand name and reputation. For those even very new to knowing cryptos know the names coinbase and bitpay. Having that kind of name recognition and reputation up alongside the Dash Digital Cash name would only help to elevate our recognition and market value.
Getting into partnerships with these companies could be at a more than remarkable expense, but I feel the return on the investment would be incredible. Well worth the efforts I would think. Still I would trust the people in the know to better make those decisions and plans.