Question for luke and friction:
How do you plan to implement and execute things like remittances? That's a tough business to get into. You need a money transfer license which will cost about $1 million and that's just the beginning.
I agree IXC can be easily used for such money services but I don't see is, a few guys, with barely any money, being able to execute on that business plan.
We would need a large business partner, a bank or a powerful Venture Capitalist.
So can either of you shed some light on what comes after the new website, new logo, etc.
Thanks.
You do it one country at a time. You decentralize the process.
You provide freely available exchange software so that any individual in any country can create his own local exchange that follow the specific laws of the country.
I understand that but money transmitting isn't easy. So what would be first step, and second step.
For example, where is the $1 million coming from for the US license cause in the US you have to license all the states before you can get your license which is why the cost is so high.
I see so many high and expensive hurdles and you guys obviously have a plan so I'm curious what that is. At some point a very deep pocket investor has to come in.
So who is your deep pocket investor I guess is what I'm asking.
TIA.