GREAT IDEA
1) So the USD would be deposit to this account...by wire transfer or western union etc...
2) to withdraw USD IBC would wire money to the recipient...so they will still be wiretransfer delays & fees
Edit: would this require serious manpower?
Online Banking has made these transfers very easy, just make sure the Belize Bank you choose offers it. Actually, the bank account does not even have to be with a Belize Bank as long as you find a bank that would be willing to open an account for the IBC and NOT you. It could be in any country... plus the IBC can offer deposits through an online payment service through its merchant account and customers will be able to deposit even with their Debit/Credit Cards. If income is earned outside Belize, there is NO TAX.
Pls explain more how we can do this in a decentralized way ASAP....thank you....also trust how to fix that
edit: we still need to trust the person doing the transfers
I can't think of how a gateway could be decentralized. If there were many gateways and a uber-issuer that spread across multiple gateways, it could approximate that, but it starts getting very complicated.
Did I mention peercover is already a USD gateway. Right now. No need to wait for asset exchange. This is why I know that using ripple gives NXT a strategic edge. All of the fiat regulation is dealt with by the ripple gateways. Any NXT/fiat gateway would need to do all the same sort of things anyway
James
What is needed in order to see NXT/USD in Peercover? NXT/BTC? I am talking about volumes, I may try to set up a market there tomorrow..
This is fantastic news!
There are two primary things that are needed. Sellers and buyers. If there were sellers with decent priced inventory and the buyers knew about it, then a market would automatically form. Of course, a persistent reminder about it won't hurt. Once the volumes are there and the spreads are low, then it will gain momentum on its own.
At first it might need someone to make a market to get the trades going. I would be more than happy to do that, as that is kind of my day job. Anybody can place orders in the orderbook, just need to select the NXT/USD or NXT/BTC pair.
nxtgt made a great howto for this:
https://nextcoin.org/index.php/topic,2527.0.htmlHe has also volunteered to send the initial 30XRP needed for ripple accts.
Most important is to get people to just start using ripple. I will be going on a 17 hr bus ride soon, so I doubt I will have any wifi for a while. When I get back online I will be able to actively make a market in all three NXT/XRP, NXT/BTC and NXT/USD.
It does take a bit to get used to ripple, so the best thing everyone can do is just create a ripple acct and start the process. get 30XRP to get your acct activated and follow the howto
James
I can't get it really.
