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DashMoney - "Getting to the Name-Wallet Launch"




                 Please check out the above video^^ to see the last of the items completed from my previous proposal (Previous Proposal Link)
      Unfortunately, there is no sound.


Items accomplished from previous Proposal:

1) Create an implementation of “2-Party” Pay in the Name-Wallet at ProofOfDash.com  (DONE)
2) Pull orders placed by Proxy Accounts on other Dash Frontends (DashGetPaid.com and DashPayRentals) into the Name-Wallet and integrate
the “2-Party” Pay into the order for ease of use. (DONE)
3) Move the Name-Wallet to React Native/Expo. (CHANGED - Moved to Electron Forge, so a desktop application) (DONE)
4) Extra - Integrate encrypted messages into the orders in the Name-Wallet. (for shipping addresses, etc) (DONE)


What I plan on doing for this proposal(timeline/estimates):

JANUARY
1) Integrate "Shipping Cost Options" into the Online-Store and Name-Wallet. (2-3 weeks)
2) Add optional "About Us" pages to the Approach #2 Frontends (DashGetPaid.com and DashPayRentals.com) (1 week)
3) Bring in the Reviews Dapp and a simple wallet into the Name-Wallet  (few days)

• The Reviews Dapp is for attaching reviews to Dash Names, and the simple wallet will be for sending Dash into and out of the Name-Wallet using addresses.
  

FEBRUARY
1) Create the webpage for distribution of the Name-Wallet desktop application (Electron Forge)

• "Electron Forge is an all-in-one tool for packaging and distributing Electron applications."

2) Test the webpage and Name-Wallet desktop application release with testnet. Webpage used for distribution of Name-Wallet will be at DashMoney.io


MARCH

1) Proxy Accounts will be from separate identities and not from separate wallets.

• Benefits - Instead of needing 2 sets of mnemonics/12-words for the Name-Wallet and Proxy Account, only the Name-Wallet will use mnemonic/12-words. The Proxy Account will use only an identity. This will allow for much smoother proxy creation process and faster Approach #2 logins as Core is no longer required.
• No change is needed for the current Proxy Data Contract and Documents. Proxy Accounts will be created in the Name-Wallet as additional identities in the wallet.
• I will make a video to show this process when it is done. I haven't shown the login in a video yet, because I believe this is a better way to do it.

2) Bring in use of Platform Proofs for verification of Platform data in the Name-Wallet.



Closing thoughts for where all this can go.

I don’t want people to think the current features and usability I have presented so far are the pinnacle of where development along this path can go.

I can see the shortcomings in my development, but I also want to tell you about the potential and possibilities that lie ahead.

2-Party Pay Possibilities (No smart contracts required)

Vested 2-Party: Conduct transactions only if both parties have skin in the game or a vested interest.
The idea behind “Vested 2-Party” is that we can create new ways to develop economic incentive structures.
Example of 50% vesting - Purchasing a truck for 100 Dash, so money doesn’t leave your wallet unless the other party matches 50% (that is the “Vested” part). So if they accept, there will be 150 Dash in the 2-Party then you can go pick up the truck and you finish the exchange. You get the truck and they receive the 150 Dash (100 from you + 50 from their vested)
I think Vested 2-Party can be a way for people to conduct larger transactions through economic incentives.

2-Party Variable Payout: If you have a 2-Party with someone, you can decide how much to pay out together. So perhaps you want to send 80% and 20% to different addresses. If both participants of the 2-Party(multi-sig) agree then it will be sent 80:20. (Or 50: 50, whatever they decide)

I have other ideas, but the two above I find the most interesting.

Privacy Improvements
1) 2-Party Pay – Encrypted exchange of Public Keys, just like DashPay. So no one but you and whomever you are interacting with know about transactions.

2) "Selective Revealed” Proxy Accounts so if you log into a dapp/frontend and want to make a purchase or request, but you don’t want others to know who is ordering(by viewing raw Platform data), but you do want the merchant to know, because how else would you pay. Then you could send encrypted proxy info in the order/request and then only the merchant could identify you as the owner of the proxy. This would all be automated in the Name-Wallet.

Approach #2 Frontends  improved with smart contracts.

I am happy with the current simple functionality of the Approach #2 frontends, but I will wait for smart contracts to really add more interesting functionality. Here a few fun simple ideas:

1) Purchases greater than 1 Dash get free shipping functionality.
2) Buy 3 get the 4th one free functionality
3) Purchase 2 nights and get one night stay for free, redeemable whenever (rewards system).
2) Store inventory/Rental availability will update through smart contracts instead of using frontend logic and Platform querying.
3) Anything that a Web2 Online store can do, and the merchant data can be as big and complicated as you want.


My motivation for continuing in this direction.

Many people in crypto focus on the digital assets, and normally for crypto, it is framed in trustless/trusted or decentralized/centralized.

But I want to focus on physical assets and that is where money comes in. Money operates in an entirely different abstraction from crypto and is framed in economic incentives and voluntary exchange.

A basic tenet of economic prosperity is that property rights are essential.
So how do property and money connect?

What is interesting in money is that any good, service or asset that is exchanged in the money, its value is captured by that money system.

So a direct and simple result of using Dash as money, to exchange goods or assets (vehicles, land, houses…), is the creating of a property system (history of transactions or explicit documents) in Dash or on Platform, so Dash and Platform can be used for digital and physical assets.

To pull it all together, money and property are the basis for a voluntary, non-coercive economy.



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