Why bother with KYC on Nash when you can just use Ren protocol?

Fair enough, aside from being non-custodial does Nash have a significant edge over Coinbase?

I think revenue sharing + lower fees could be an edge over Coinbase, why trade on Coinbase and pay their high fees while getting nothing back when you can use Nash and get a little cash back for every trade that goes through the matching engine including future Nash Pay transactions? IMO however the benefits of being non-custodial cannot be understated. I’ve heard in the traditional finance realm all exchanges are non-custodial so when dealing with regulators Nash could be at a huge advantage over their competition by delivering cex performance + dex security and being noncustodial. It could be a game changer.

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Non-custodial is definitely the biggest edge Nash has when it comes to traditional finance regulation, I’m just interest to try and see if there’s anything else Nash has when you take that aspect out of the equation.

I don’t think you should see it that closely. the crypto area is very very small. I don’t think that much will change. but what will change is the form of (hard) money and financial instruments (finally: post, taxi, hotels etc have already been changed by the internet) and with the form of money also the providers.
You should just be open that Nash is making enough crypto sales to be at the forefront of the new markets. But timing is everything, maybe they are too early.
(forex traiding only works 260 days a year. the new digital currencies (as just started in china) are also non-custodial 365 days a year.)

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https://youtu.be/3FA15CQgePA?t=1676 would have been a better timestamp.

KYC has been the main rebuttal from most of the crypto OG’s/idealists so its a relevant point of contention within the wider crypto community.

They will never be satisfied. Nash’s focus is compliance.

Suggesting that acquiring a billion users without taking market share from existing platforms comes across as naive, yes Nash will grow the crypto pie but that will most definitely involve existing users migrating over to Nash in addition to new users coming into the space.

That’s your opinion. Nash Pay can be used by anyone, even people who aren’t interested in cryptocurrency and don’t have Nash accounts.

Users will migrate as incentives change good or bad.

Nash is not primarily a cryptocurrency company.

Fair enough, aside from being non-custodial does Nash have a significant edge over Coinbase?

You’ve been basically asking the same question several times. I don’t keep my cryptocurrency on Coinbase because it’s custodial. I only use it because it has a fiat ramp. If Nash has a fiat ramp, there is simply no reason to use Coinbase or any other platform. The key selling point for me is you can make passive income from Nash and then keep that non-custodially. It’s the perfect solution.

I’m just interest to try and see if there’s anything else Nash has when you take that aspect out of the equation.

How many times are you going to ask the same question?

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More on my thought s about Nash Pay’s short to medium term impact can be found in this post Nash Exchange short to medium term & Nash Pay in the Long term

until there’s wider adoption of crypto in general
Nash Pay won’t be able to meaningfully compete with the closest existing analogues

It doesn’t matter where we are now. The goal is by 2030.

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To get to 1 billion user by 2030 Nash will need to disrupt Coinbase, Binance, BitMex, FTX, Stripe, Paypal and probably NYSE, TYO, LSE and NASDAQ Global. My suspicion is that’s the teams goal which is why I created that post.

Products with a billion users Google, Facebook, Microsoft, Instagram, Whatsapp, Chrome all taking huge market-share from competitors and very disruptive, there doesn’t currently exist a fintech platform with a billion users, here’s hoping Nash is the first.

I think long term something like Nash would be looking to disrupt giants like Visa and Mastercard. They don’t have a billion users but it’s pretty close. Given the population increase, more people going cashless and more improved access to banking (hopefully via crypto) by 2030 it could be possible to have a Billion users if you’re the market leader. But at this moment I think we should definitely be more concerned with what’s right in front of us than what could happen 10 years from now.

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I contemplated doing the Visa/Mastercard comparison but it doesn’t quite fit as NashPay wont be building payment rails, blockchains and payment channels themselves will become the payment rails. Nash Pay will act more like an aggregator of the different payment rails, therefore Stripe and PayPal are still the closest analogues.

State channels i think mate … but yeak B chains.

Think of the channels Libra etc will open up … being an exchange node in that network would be fairly valuable

It all comes down to how open these networks are and whether or not they have sufficient smart-contract / scripting capabilities, Libra, central bank digital currencies, etc… If they’re open then Nash will be able to take advantage of that both for the exchange and Nash Pay, China’s digital Yuan looks to be quite closed so that’s off the table for Nash, hopefully we have more luck with the others.

there are bigger ones … although small now … they exist and are being built :slight_smile:

also open to connect to

OKex CEO gave an interview and stated DCEP has smart contract abilities.

https://www.okex.com/academy/en/asking-okex-ceo-10-questions-about-chinas-dcep

As seen from its latest disclosed patent, DCEP is integrated with asymmetric cryptography, unspent transaction output (UTXO), and smart contract technologies. However, consensus mechanism, which is the key of public blockchains, is unlikely to be adopted.

Doesn’t exactly sound like its “Open”

there doesn’t currently exist a fintech platform with a billion users, here’s hoping Nash is the first.

Well, to get a billion users, you just have to have someone make a purchase or sale via Nash Pay once. Not all of those billion users will be frequent users.

Ren was first Republic Protocol, that did a ICO on 1st of February 2018.
It was going to build a DEX and darkpool called RenEx using secure multi-party computation.

It launched RenEx on October 2018. With no traction it dropped the project and pivoted in 2019. During its pivot it promoted WBTC and TUSD as its BTC and USD peg.

Finally it got rebooted as Ren, and re-focused in a new network to create pegs - the RenVM. Which is expected to be release to mainnet this year.

There is a strong competition on the blockchain interconnection space. Ren is not building a product for users like Nash anymore, but a product for developers building user facing products. Users will likely have to KYC on exchanges using Ren, but that is not Ren competency.

So it is not a competitor to Nash, it is an alternative technology for linking networks that Nash has already solved with internal technology, we are happy with the performance of our state channel system and see no reason to pay fees for the Ren network.

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100% the answer I was looking for, thanks for the reply! :+1: :nash_token:

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