<html><head></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; ">It's a great interview Michel, <div><br></div><div>we actually have reported on Dwolla before - there must be at least two articles I put on the p2pfoundation blog.</div><div><br></div><div>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.</div><div><br></div><div>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. </div><div><br></div><div>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. </div><div><br></div><div>That said, they are not in the alternative currency scene at all. They are firmly in the official currency (US Dollar) transfer business. </div><div><br></div><div>Kind regards</div><div>Sepp</div><div><br></div><div>here are the two articles we've published on them so far...</div><div><br></div><div><a href="http://blog.p2pfoundation.net/?s=Dwolla">http://blog.p2pfoundation.net/?s=Dwolla</a></div><div><br></div><div><br></div><div><br></div><div><br><div>
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<br><div><div>On Nov 13, 2011, at 5:57 AM, Michel Bauwens wrote:</div><br class="Apple-interchange-newline"><blockquote type="cite"><strong><a href="http://www.businessinsider.com/this-28-year-old-is-making-sure-credit-cards-wont-exist-in-the-next-few-years-2011-11">http://www.businessinsider.com/this-28-year-old-is-making-sure-credit-cards-wont-exist-in-the-next-few-years-2011-11</a><br>
<br>dea</strong><strong>r Sepp, could you look a</strong><strong>t</strong><strong> </strong><strong>this, also in a p</strong><strong>rac</strong><strong></strong><strong>tical way, I would in</strong><strong>tend 2 do fund</strong><strong>raising ..<br>
<br>See:<br></strong><strong><br>How does Dwolla work and how is it different from PayPal?</strong><br><br>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.
<p>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. </p><p>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 <a href="http://www.businessinsider.com/blackboard/mastercard" class="hidden_link">MasterCard</a>. We're building our own.</p><p><img class="float_right" src="http://static5.businessinsider.com/image/4ebc33fceab8ea504400004c/dwolla.png" alt="dwolla" height="279" width="400" border="0"><strong>Can users only
send money to Dw</strong><strong>olla members?</strong></p><p>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 <a href="http://www.businessinsider.com/blackboard/facebook" class="hidden_link">Facebook</a> and type in a friend's name. </p><div style="overflow: hidden; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); text-align: left; text-decoration: none; border: medium none;">
<br>Read more: <a style="color: rgb(0, 51, 153);" href="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">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</a><br>
</div><br><br><br clear="all"><br>-- <br>P2P Foundation: <a href="http://p2pfoundation.net/" target="_blank">http://p2pfoundation.net</a> - <a href="http://blog.p2pfoundation.net/" target="_blank">http://blog.p2pfoundation.net</a> <br>
<br>Connect: <a href="http://p2pfoundation.ning.com/" target="_blank">http://p2pfoundation.ning.com</a>; Discuss: <a href="http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation" target="_blank">http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation</a><div>
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