Building a Blockchain Budgeting App | Bitcointalksearch.org

fizzleberry01

newbie

Activity: 5

Merit: 0

Quote from: Vod on January 03, 2021, 04:58:00 PM

Quote from: fizzleberry01 on January 03, 2021, 04:32:15 PM

No we would actually facilitate transfer of money but not be investing it ourselves, this would make us a tech company and not a financial institution. Similar to how many dapps are positioning themselves without being licensed and having registrations.

Actually, not licensing makes you nothing - not a tech company.

If at any time you control any of the coin, that gives you the chance to keep it. Especially without pesky regulations, right?

Even better, we never touch the coins it's always being held by someone else. What I'm trying to figure out is if people in this community care about budgeting and if so what are their habits?

Vod

legendary

Activity: 3668

Merit: 3010

Licking my boob since 1970

Quote from: fizzleberry01 on January 03, 2021, 04:32:15 PM

No we would actually facilitate transfer of money but not be investing it ourselves, this would make us a tech company and not a financial institution. Similar to how many dapps are positioning themselves without being licensed and having registrations.

Actually, not licensing makes you nothing - not a tech company.

If at any time you control any of the coin, that gives you the chance to keep it. Especially without pesky regulations, right?

fizzleberry01

newbie

Activity: 5

Merit: 0

Quote from: Vod on January 02, 2021, 11:55:51 AM

Quote from: fizzleberry01 on January 02, 2021, 08:18:22 AM

Great question - The money is traded for a stable coin and then moved into a lending protocol to earn interest. Once the user needs the money, we give them back the amount needed plus some interest earned.

So your service is basically an investment firm. Since you are dealing with real value, you better haver all your legal ducks in a row.

After you prove all your licensing, registrations, etc - then you can prove your history in making profits trading.

Now that you know how much work this is going to be before anyone sends you anything, are you still interested?

No we would actually facilitate transfer of money but not be investing it ourselves, this would make us a tech company and not a financial institution. Similar to how many dapps are positioning themselves without being licensed and having registrations.

Vod

legendary

Activity: 3668

Merit: 3010

Licking my boob since 1970

Quote from: fizzleberry01 on January 02, 2021, 08:18:22 AM

Great question - The money is traded for a stable coin and then moved into a lending protocol to earn interest. Once the user needs the money, we give them back the amount needed plus some interest earned.

So your service is basically an investment firm. Since you are dealing with real value, you better haver all your legal ducks in a row.

After you prove all your licensing, registrations, etc - then you can prove your history in making profits trading.

Now that you know how much work this is going to be before anyone sends you anything, are you still interested?

fizzleberry01

newbie

Activity: 5

Merit: 0

The money cannot just gain value in the wallet, esp when you have gas fees. There is a catch - are you planning on investing the funds?
[/quote]

Great question - The money is traded for a stable coin and then moved into a lending protocol to earn interest. Once the user needs the money, we give them back the amount needed plus some interest earned.

Vod

legendary

Activity: 3668

Merit: 3010

Licking my boob since 1970

Quote from: fizzleberry01 on January 01, 2021, 09:10:25 PM

Quote from: Code29 on January 01, 2021, 09:00:51 PM

From my experience paid studies are not worth the effort because the results are often biased. People tend to rush it just to get a reward.

I suggest you to share some more information here instead and if it's interesting there might be enough volunteers to help you out.

Thanks for the tip! I'm building a budgeting app that automatically transfers money from your bank account into envelopes you create. While your money is in an envelope, it earns interest on the Ethereum blockchain.

I'm looking to chat with people and learn about their current budgeting experience and go through a simulation. It should take around 30 minutes and I think we can both learn something out of it. I made a link to setup a time to chat as well for ease https://calendly.com/kanbeeapp Happy to answer any other questions!

The money cannot just gain value in the wallet, esp when you have gas fees. There is a catch - are you planning on investing the funds?

fizzleberry01

newbie

Activity: 5

Merit: 0

Quote from: Code29 on January 01, 2021, 09:00:51 PM

From my experience paid studies are not worth the effort because the results are often biased. People tend to rush it just to get a reward.

I suggest you to share some more information here instead and if it's interesting there might be enough volunteers to help you out.

Thanks for the tip! I'm building a budgeting app that automatically transfers money from your bank account into envelopes you create. While your money is in an envelope, it earns interest on the Ethereum blockchain.

I'm looking to chat with people and learn about their current budgeting experience and go through a simulation. It should take around 30 minutes and I think we can both learn something out of it. I made a link to setup a time to chat as well for ease https://calendly.com/kanbeeapp Happy to answer any other questions!

Code29

jr. member

Activity: 31

Merit: 19

From my experience paid studies are not worth the effort because the results are often biased. People tend to rush it just to get a reward.

I suggest you to share some more information here instead and if it's interesting there might be enough volunteers to help you out.

fizzleberry01

newbie

Activity: 5

Merit: 0

Hey all I’m building an automated budgeting app using blockchain that is free to use. Would anyone be interested in chatting about your personal finance experience and participating in a budgeting simulation? It will take around 30 minutes of your time and I will send you a $20 gift card afterwards to a store of your choice!

If you’re interested in participating, you can either 1) just shoot me a DM to arrange a time or 2) schedule a time on my calendar https://calendly.com/kanbeeapp
Thank you so much and I look forward to hearing your experiences!

Topic: Building a Blockchain Budgeting App (Read 161 times)