Archived PIVXdirect Peer to Peer Fiat to PIVX Exchange - Official Proposal

[danielle]

Niall
2
Oct '17

Objectives: Our minimum viable project (MVP) objectives are to create a peer to peer, fiat (USD and user’s local currencies) to PIVX exchange allowing people in the same country to transfer funds from their local bank account into a PIVX seller’s account and then receive PIVX from the seller via PIVXdirect escrow.
Value Drivers: PIVXdirect will enable people to more easily acquire PIVX without having to first convert their fiat to BTC and then buy PIVX on a centralized exchange. With only a 1% service charge it will also potentially save the users significant fees and currency risk from converting from fiat to BTC to PIVX.
Methodology:

1. User registers on the PIVXdirect website, enters PIVX wallet address in profile and selects status (online and available or offline.) The user will also enter their country and whether they accept payments by Bank Transfer, Cash deposit, Paypal or Skrill. They will also state their trade conditions including time to complete trade etc. More payment options will be added later.
2. Step 2 is optional where a user conducts KYC with IDnow Video Identification as an option to increase their “Trustworthiness Score”. This will also allow users to purchase with VISA/Mastercard, when this option is enabled. If the user prefers not to conduct KYC they will be entirely reliant on their track record on the site for their Trustworthiness Score.
3. User inputs a sale/purchase advertisement with either a static price or a price pegged to the PIVX average floating rate plus or minus a specified %.
4. A buyer will choose a sale advert based on user’s trust score and online availability requesting a trade.
5. The seller will confirm he wants to trade by sending the PIVX for sale to the PIVXdirect escrow wallet, thus initiating the trade and opening an Instant Message conversation with the buyer.
6. The seller gives their bank account details to the buyer and waits for a confirmation that the deposit has been made. Depending upon the type of transfer to the account the trade will take differing time periods but as soon as payment has been confirmed as received, the seller can release the PIVX to the buyer’s PIVX wallet, minus the 1% transaction fee.
7. Upon completion of the transaction the users will rate each other and leave comments on the transaction for other users.
8. In the event of a dispute, the transaction will be frozen for 7 days during which time the buyer and seller can follow up on the transfer with their respective banks, following which the trade goes into arbitration. If the transaction is satisfactorily resolved before 7 days the trade can be completed.
9. If the trade is escalated to arbitration status, PIVXdirect will evaluate all the evidence submitted, including chat history, sale conditions and documentary evidence, and then release the PIVX back to the seller or to the buyer depending upon the evidence submitted.

Team: MyHotZone International Ltd, will be managing the development of this project, headed up by Niall Igoe, the Director of Operations. MyHotZone is a multi-service networking company that has been specializing in Hotspot services in the UK and Africa for the last 15 years. This includes the development of our proprietary Authentication Authorization and Accounting systems that have been integrated with Hotel Property Management Systems, payment gateways and other payment platforms.
The lead developer on this project will be Sri Rangan based out of the Netherlands, who has many years of experience developing blockchain based solutions, cryptocurrencies and decentralized apps running on Bitcoin and Ethereum platforms. He also has experience creating web and mobile apps, with Python, Node.js, React and React Native. Sri has over a decade of experience developing software for the aviation, oil and gas and banking industries. His experience in building an investments and securities trading app and platform for ING Bank Netherlands will bring a high level of competence to the execution of this project.
Once operational, PIVXdirect will be supported by MyHotZone’s 24/7/365 support team by IM and by telephone. At present this team supports guests and users of MyHotZone hotspots in UK and Zimbabwe around the clock.
Progress tracking: The progress towards this project’s objectives will be tracked on Trello where each element of the development will be outlined and marked off as complete as they are dealt with. A progress report will also be generated for the PIVX community following completion of each sprint as set out below.
Roadmap:
Sprint 1 – The Basics: Repositories, Libraries, Frameworks, CI/CD
Sprint 2 – Designs & User Module
Sprint 3 – Markets Module
Sprint 4 – Markets Module
Sprint 5 – Alpha Release, Security Audits, Testing
Sprint 6 – Beta Release, Security Audits, Testing
Budget: This proposal is seeking 1800 PIV for three months totaling 5400 PIV. This should cover development costs, integration costs, initial marketing campaign costs and a small bug bounty.
PIVXdirect ;
hash= f37f6901ce65af0767e2d8bfa699a528af51a543a3a2cc2f27d2c7bcdf3e486b
“mnbudget vote-many f37f6901ce65af0767e2d8bfa699a528af51a543a3a2cc2f27d2c7bcdf3e486b yes” to vote in favor
“mnbudget vote-many f37f6901ce65af0767e2d8bfa699a528af51a543a3a2cc2f27d2c7bcdf3e486b no” to vote against
"mnbudget getinfo PIVXdirect ” to check the status