We were waiting for almost a year for Anchor.ca to launch a stablecoin which was to be backed by the Canadian dollar and convertible between fiat to Anchors at any Canadian Credit Union at any time. Stablecoins are neat because they can trade and move at electronic speeds without formal bank intermediaries but are solidly tied (pegged) to either a currency or a basket of currencies. No small merchant, the bread of butter customers of Yodo is going to accept the volatility of a crypto currency. They just want to focus on running their businesses and will be only too happy to accept YodoPay for its efficiencies and cost reductions when eliminating card fees.
Anchor.ca ( not to be confused with Swiss based Anchor.io) has recently folded unable to win the regulatory approval they sought from the Canadian Regulatory Agencies.I just spoke with Ben Whalen in Toronto yesterday. Ben was involved with some of Canada's first crypto ATMs and was also helping to manage the Anchor.ca project. https://www.linkedin.com/company/anchor-financial-services-ltd/about/ Ben's advice to me was first and foremost to "Just do it"! Most of the stuff we are trying to do is cutting edge, and since the legal regulatory regime invariably lags the innovation field , if we want to make an impact on Financial inclusion , he says we just have to move forward and accept that regulators will tag along. In fact Anchor was just as eager to have Ayodo as a client using their stable coin as Yodo being a regulatory compliant product (under pre-paid regulatory rules) added legitimacy to Anchor's own efforts to win approval.
May seem crazy but assuming we were to operate our own exchange and strictly limit transactions only by our own well vetted registered Merchants AND only for the express purpose of Yodo Merchant Settlement (GYMS) it may all be possible. As you know Jed McCaleb of Ripple fame https://cointelegraph.com/tags/jed-mccaleb who now runs the Stellar network, itself a non-profit foundation with a strong mandate to enhance financial inclusion has been encouraging us to try Centaurus http://tbltzk.github.io/Centaurus/ for our own Yodo Merchant Settlement. Centaurus is certainly a strong contender as they have code on Githubhttps://github.com/woshilapin/centaurus , already have a packaged Android Wallet https://play.google.com/store/apps/details?id=de.xcoins.centaurus&hl=en_CA on Google's Play Store plus run as an adjunct to Stellar using lumers - but the concept of developing our own private chain in Wordpress excites me especially since Lumers (the Stellar network token) are not a Stable coin. I have a few Stellar accounts funded and if Logan or someone else joining the team wants to route a few transactions between accounts please let me know and I can accomodate. Nothing like getting your feet wet at zero risk.
Especially if Logan or one of the new crew have specific skills in WordPress development our own exchange may make great sense and could prove fruitful in reaching our goal of a fully developed GYMS now that someone has released an open source Word Press widget. I could see this Word Press crypto exchange running on our own Administrative servers (Mathew ?) on the AURO.IO cloud
Let's put this on a future agenda for HighTech-U as it is a direction Ayodo is committed to in that affordable Merchant Settlement is a necessary feature to complete the grand vision.
Andrew / Logan,e
We were waiting for almost a year for Anchor.ca to launch a stablecoin which was to be backed by the Canadian dollar and convertible between fiat to Anchors at any Canadian Credit Union at any time. Stablecoins are neat because they can trade and move at electronic speeds without formal bank intermediaries but are solidly tied (pegged) to either a currency or a basket of currencies. No small merchant, the bread of butter customers of Yodo is going to accept the volatility of a crypto currency. They just want to focus on running their businesses and will be only too happy to accept YodoPay for its efficiencies and cost reductions when eliminating card fees.
Anchor.ca ( not to be confused with Swiss based Anchor.io) has recently folded unable to win the regulatory approval they sought from the Canadian Regulatory Agencies.I just spoke with Ben Whalen in Toronto yesterday. Ben was involved with some of Canada's first crypto ATMs and was also helping to manage the Anchor.ca project. https://www.linkedin.com/company/anchor-financial-services-ltd/about/ Ben's advice to me was first and foremost to "Just do it"! Most of the stuff we are trying to do is cutting edge, and since the legal regulatory regime invariably lags the innovation field , if we want to make an impact on Financial inclusion , he says we just have to move forward and accept that regulators will tag along. In fact Anchor was just as eager to have Ayodo as a client using their stable coin as Yodo being a regulatory compliant product (under pre-paid regulatory rules) added legitimacy to Anchor's own efforts to win approval.
May seem crazy but assuming we were to operate our own exchange and strictly limit transactions only by our own well vetted registered Merchants AND only for the express purpose of Yodo Merchant Settlement (GYMS) it may all be possible. As you know Jed McCaleb of Ripple fame https://cointelegraph.com/tags/jed-mccaleb who now runs the Stellar network, itself a non-profit foundation with a strong mandate to enhance financial inclusion has been encouraging us to try Centaurus http://tbltzk.github.io/Centaurus/ for our own Yodo Merchant Settlement. Centaurus is certainly a strong contender as they have code on Githubhttps://github.com/woshilapin/centaurus , already have a packaged Android Wallet https://play.google.com/store/apps/details?id=de.xcoins.centaurus&hl=en_CA on Google's Play Store plus run as an adjunct to Stellar using lumers - but the concept of developing our own private chain in Wordpress excites me especially since Lumers (the Stellar network token) are not a Stable coin. I have a few Stellar accounts funded and if Logan or someone else joining the team wants to route a few transactions between accounts please let me know and I can accomodate. Nothing like getting your feet wet at zero risk.
Especially if Logan or one of the new crew have specific skills in WordPress development our own exchange may make great sense and could prove fruitful in reaching our goal of a fully developed GYMS now that someone has released an open source Word Press widget. I could see this Word Press crypto exchange running on our own Administrative servers (Mathew ?) on the AURO.IO cloud
https://www.wpcryptoexchange.com/
Let's put this on a future agenda for HighTech-U as it is a direction Ayodo is committed to in that affordable Merchant Settlement is a necessary feature to complete the grand vision.