[P2P-F] 28-year-old-is-making-sure-credit-cards-wont-exist-in-the-next-few-years

[Michel Bauwens]

very useful update!!

On Fri, Nov 18, 2011 at 11:46 PM, Sepp Hasslberger <sepp at lastrega.com>wrote:

> It's a great interview Michel,
>
> we actually have reported on Dwolla before - there must be at least two
> articles I put on the p2pfoundation blog.
>
> It is a very promising development. Basically what they do is they cut out
> the whole credit card scene, including Pay Pal, which has become a credit
> card entrance point. Dwolla does transfers directly from bank to bank,
> using a network that links the banks.
>
> At first, they started out operating only in one or two states in the US,
> and then they extended coverage to all of the US. They are not, however,
> doing any international payments as yet. Once they have figured that out,
> they will make hay out of the credit card companies.
>
> That limitation (USA only) is also what kept me from using them so far,
> and it will probably keep you from using them, as we are not operating
> inside the US. But as soon as Dwolla goes international, I will be the
> first one to start using it and to recommend that everyone else do so as
> well.
>
> That said, they are not in the alternative currency scene at all. They are
> firmly in the official currency (US Dollar) transfer business.
>
> Kind regards
> Sepp
>
> here are the two articles we've published on them so far...
>
> http://blog.p2pfoundation.net/?s=Dwolla
>
>
>
>
> *"The individual is supreme and finds the way through intuition"*
>
> http://www.newmediaexplorer.org/sepp/
> http://www.laleva.org
> http://blog.hasslberger.com/
> http://www.facebook.com/hasslberger
> http://twitter.com/healthsupreme
>
> .
>
> On Nov 13, 2011, at 5:57 AM, Michel Bauwens wrote:
>
> *
> http://www.businessinsider.com/this-28-year-old-is-making-sure-credit-cards-wont-exist-in-the-next-few-years-2011-11
>
> dea**r Sepp, could you look a**t** **this, also in a p**rac****tical way,
> I would in**tend 2 do fund**raising  ..
>
> See:
> **
> How does Dwolla work and how is it different from PayPal?*
>
> With Dwolla, payments are made directly from your bank account.  No credit
> or debit cards are allowed.  And because they don't exist in the system, we
> don't have to bring the fees into the system.
>
> You can spend any amount of money and when you do that, the person on the
> other end doesn't have to pay 1, 2, 3 or 4%. They only pay $0.25 a
> transaction, which is especially helpful when it's $1,000, $2,000 or $5,000
> transactions.  Obviously PayPal becomes very cost prohibitive with those
> larger transactions.
>
> The biggest difference between ideas like this and a PayPal — and PayPal
> is a phenomenal idea, Square is too — is that those are built on top of
> networks like Visa and MasterCard<http://www.businessinsider.com/blackboard/mastercard>.
> We're building our own.
>
> [image: dwolla]*Can users only send money to Dw**olla members?*
>
> No, you can send money to anyone.  Only the person sending it has to have
> a Dwolla account to initiate the transaction.  The person receiving it will
> have to sign up for an account, but we've been surprised at the conversion
> there.  It's worked relatively well.  We leverage social networks really
> heavily as contact lists, which is one thing we do really different.  You
> can send money with an email address or with a phone number, but the most
> popular way to do it is to connect to Facebook<http://www.businessinsider.com/blackboard/facebook>and type in a friend's name.
>
> Read more:
> http://www.businessinsider.com/this-28-year-old-is-making-sure-credit-cards-wont-exist-in-the-next-few-years-2011-11?op=1#ixzz1dYfOMX8F
>
>
>
>
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>
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>
>


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