A bright future for Dogecoin

[david2samuels]

Disruptive Innovation – DOGE style: An open challenge to the Dogecoin Community

Tesla is disrupting the auto and energy sectors while Uber is disrupting the transport industry.
I think a disruption of the banking and remittance sectors is long overdue. And Dogecoin could be the key to achieving this. We all know about piggy banks. Well, how about an online “bank” called “DoggyBank” that uses Dogecoin as the main unit of currency? Your DoggyBank Account would simply be a Dogecoin wallet that would function in the same way as a traditional current account at a commercial bank. However, with your DoggyBank account, you could receive funds from and pay out funds to anyone on the planet within seconds without incurring any large transaction fees.

Given the large number of unbanked persons that exist especially in developing countries as well as the currency crises that are currently gripping countries such as Venezuela, I am stunned that someone hasn’t already designed a platform that unleashes the full potential of crypto currencies to solve the problems caused by our current financial system. There needs to be a way for hardworking emigrants to send money back home in a cheap and efficient way. When the currency of a country collapses due to the mismanagement of its leaders, the general population should not have to pay the price.

Now, I do not know anything about programming or website design but this is how I think it could work. First you create a website eg. DoggyBank.com. Upon visiting the site you will have the option to open a DoggyBank account. All that you will need is a username and a four-digit PIN. Security can be further strengthened by using security questions as well as two factor authentication. Once your account is created, you will be assigned a Dogecoin wallet address in the background which will be viewable from your profile page on the site.

The DoggyBank website will allow you to purchase Dogecoins to put in your wallet. Once the funds are in your wallet (DoggyBank account), you will be able to send coins to any other DoggyBank user by knowing their username only. The site would link the recipient’s username to their Dogecoin wallet automatically in the background. There would also be a mobile App for Doggybank so the recipient could receive an alert on their phone when the payment reaches their account.

Once logged in to your DoggyBank account, your balance would be displayed in Dogecoins as well as a default fiat currency, with the option to view the balance in other local currencies. This feature already exists in crypto wallets, so no need to reinvent the wheel. Crypto currencies such as Bitcoin tend to fluctuate wildly on the exchanges but Dogecoin should remain relatively stable given its inflationary nature. Even if the number of DoggyBank users should grow quickly, the vast amount of Dogecoins available should ensure that the value of the coin remains stable.

One major barrier to the widespread adoption of crypto currencies is the complexity of use. If there is an easy way for ordinary non-technical people to use Dogecoins to make payments for goods and services as well as send money to friends and relatives in other countries, they would most certainly use it. Imagine an ordinary person being able to send a crypto payment with just a username. Imagine being able to send money home without having to deal with banks or remittance companies. Those of us in the know are already buying, selling and storing crypto currency. Let’s design a platform that will enable the rest of society to easily use crypto currencies as well. 

At the moment, the US$ is considered to be the world’s reserve currency. I strongly believe that Dogecoin could and should be the world’s default crypto currency. The US$ can be easily converted to almost any other national currency. If we create an online “bank” that uses Dogecoins as the underlying technology, we could have people the world over using Dogecoins instead of cash or other means to transfer value to each other. The Dogecoins would first be expressed in US dollars by default but would then be convertible to the national currency of the user’s choosing.

Conclusion
I would like to call upon all the talented members of the Dogecoin community to pool their resources and create a platform that would allow Dogecoin to eventually become the world’s default crypto currency for the making of everyday payments by ordinary people. Bitcoin and many others will never be suitable for use as a regular payment method. This is a golden opportunity to take Dogecoin to the next level.  I would be happy to help in any way I can. Let’s do this.

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August 31, 2018

[ayatoslaw]

this is a good post, but it's very funny no one gives an opinion.
okay, I agree with you, dogecoin is suitable if used for everyday transactions, the cost is cheap, the process is also fast and also not expensive.
only, how to start to create the platform? I want to help, but I can't start.
if anyone needs help, I will try to be the first to walk ahead to help.

[bdamenaakter]

Most likely DogeCoin will hang out at the same level, at least because of its popularity. Another thing is that investing in them does not make much sense. Even if there is a profit over time, it will not be significant.

[kamal420]

Dogecoin is an very old coin and with money chasing new ideas and new coins, it's very hard to see its coming back. I still have a few left not having high hopes of them for short term,  but if the overall market keep growing there might be a chance to pump one day but dogecoin needs to give a reason to trigger the pump...