Hello all I would like to start up this discussion of creating a treasury backed DASH kiosk network. I wanted to find out what the interest levels would be about the network supporting such a system that is designed to be "not for profit". I know there are some heated opinions about ATM and funding them so lets hear it all.
Using the General Bytes BATMTwo and the Lamassu platforms I am intending to launch these DASH kiosk under full legal compliance in the state of New Jersey later this year. Regardless of what comments may come of this post. My legal team and I have been hard at work this year and last to ensure our AML and KYC policies are well written and tested. Earlier this year (March) DASH funded two ATM projects one of which was mine. This unit is on order and pending customs clearance. I originally intended to service and sell several multiple crypto's offering DASH for no service charge, since the machine was sponsored by the network. Recently I have been thinking we can make this bigger and available to more people if we just had a little funding and a full time person managing it. If the treasury board would consider such a project it would be made DASH exclusive, operating not for profit but existing to fulfill the needs of distribution to unbanked in the USA.
For an individual business to put a CryptoATM into their shop they have to find a provider that complies with laws in their local state, as well as Federal laws or risk the consequences. This makes it is cost prohibitive for any business owner to operate just 1or 2 kiosks. You need companies offering to place machines into business that want them and this is where I come in. I can create a program which would allow for individuals to operate the machine while they collect the cash and we verify the customers for AML compliance.
After doing some research I found a few sites that calculated the cost to obtain money transmitter license in all 50 states. The number was surprisingly lower than I had expected. Currently estimated to be $175k to establish said license and approximately $135,000 each year to maintain the license. That's as small as 30-50 DASH per month from the budget to operate such a program....
Comments Please
Using the General Bytes BATMTwo and the Lamassu platforms I am intending to launch these DASH kiosk under full legal compliance in the state of New Jersey later this year. Regardless of what comments may come of this post. My legal team and I have been hard at work this year and last to ensure our AML and KYC policies are well written and tested. Earlier this year (March) DASH funded two ATM projects one of which was mine. This unit is on order and pending customs clearance. I originally intended to service and sell several multiple crypto's offering DASH for no service charge, since the machine was sponsored by the network. Recently I have been thinking we can make this bigger and available to more people if we just had a little funding and a full time person managing it. If the treasury board would consider such a project it would be made DASH exclusive, operating not for profit but existing to fulfill the needs of distribution to unbanked in the USA.
For an individual business to put a CryptoATM into their shop they have to find a provider that complies with laws in their local state, as well as Federal laws or risk the consequences. This makes it is cost prohibitive for any business owner to operate just 1or 2 kiosks. You need companies offering to place machines into business that want them and this is where I come in. I can create a program which would allow for individuals to operate the machine while they collect the cash and we verify the customers for AML compliance.
After doing some research I found a few sites that calculated the cost to obtain money transmitter license in all 50 states. The number was surprisingly lower than I had expected. Currently estimated to be $175k to establish said license and approximately $135,000 each year to maintain the license. That's as small as 30-50 DASH per month from the budget to operate such a program....
Comments Please
