A Distributed Teller App

Part 1 – Business Model

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

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

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

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

Legend for the following Graphics

Icon Meaning

Teller/Cryptocurrency Holder

Remittance/ Cash User

LocalBitcoins.com Scope of Services

¥/B/Cc $/B/Cc

Cross-border Cryptocurrency

The GoAbra Model

$¥ GoAbra’s own Cryptocurrency

$$$$$$$$

$

$$$

$$$$$

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

Together in One Region

¥/B/Cc

¥/B/CcCNY/B/Cc

JPY/B/Cc$/B/Cc

Cross-border Cryptocurrency

Cross-border Cryptocurrency

Cross-border

Cryptocurrency

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

Uses of this model

Localization Service

Localized Cryptocurrency Exchange

Remittance

Costless Transfers

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

Expansion of User Space

Remittance Users

Alt Coin Holders

Bitcoin Holders

Part 2 – How Would the App Work?

What The Apps Should Achieve

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

Need 2 Apps

Cash Sender/Receiver• Cash holder

Cryptocurrency Sender/Receiver• Cryptocurrency

Holder

Potential Names for Each App

BYoC BYoB

Cash Exchange

¥ BI want

Bitcoin!I want Cash!

Broadcast Accepts

Escrow

Proposal for the app’s functions - Remitting

$ ¥

BroadcastFind TellerFind Teller Teller

AcceptsTeller

Accepts

B B¥

The User ExperiencePart 1: The Cash User

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

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

Part 3 - Layers of the App

On the Tech side, what’s necessary?

Back-end

Data

Collaboration

Business Logic

Security

Front-end

Container

Device Data Layer

Off Syncing

User Experience

Still in the Process of Crowdsourcing Ideas on the previous slide: