Introduction
Hi guys sorry for posting more than once today but sometimes I get an idea in my head and I just have to get it out. This is another Ideasfactory idea/post (read about the concept here).
The basic idea is to forward the concept and utility of Steem (and hence Steemit) covertly by means of creating a mobile remittance app using SBD on the Steem Blockchain. I have given the idea a provisional name of "MoneyStreem".
Background To The Idea And The SBD Debate
Recently we have had a lot of talk about whether the SBD is necessary, the pros and cons etc. and I have been doing a lot of thinking on the matter.
Whilst most people agree that there are some potential problems with the SBD in terms of increasing volatility a lot of people such as 
Further some of the risks could also be countered by reducing or even zeroing the interest rate as suggested by 
With this in mind I have been thinking about another way we could use SBD to our advantage and further give Steem an easy way to get into the global consciousness.
Coinscrum Video On "Currency Wars" - With Andreas Antonopoulos
Yesterday I was watching a video on YouTube by Andreas Antonopoulos from a couple of weeks ago. I would highly recommend watching it if you have time over the holidays (I will also embed it at the end of the post):
He makes a lot of great points in the video but the things I have been thinking about already and were brought up in the video too are:
- The huge size of the foreign remittance market estimated to be $436 Billion in 2014 for developing countries alone.
- The fact that financial crises and instability are causing people to turn to cryptocurrencies.
- People in countries like India are having to pay a premium for Bitcoin.
- People all over the world are running into problems moving their money around - this creates a problem for economies but it also creates an opportunity to pay for any new infrastructure that solves the problem.
- People are willing to go to great lengths (as well as paying a lot) to have control over their money.
- There are still problems with Bitcoin in terms of scaling, high transaction fees and problems with buying.
How Steem Can Help
Although I don't have an easy solution for the problem of initially buying cryptocurrency, SBD/Steem can overcome some of these problems:
- SBD/Steem can be earned directly through curation and posting on Steem, giving a means beyond using a fiat gateway or mining in the conventional sense to access it.
- There are no transaction fees which is very useful for foreign remittance payments.
- Scaling is much less of an issue than with BTC and is constantly being worked on.
- Transactions are near instant.
- SBD removes the volatility risk which exists with other cryptos like bitcoin - that is particularly pronounced if you buy at the peak.
The Idea - MoneyStreem - Remittance On The Steem blockchain
- I propose making a mobile app "MoneyStreem" that let's you send money to any other person in the world with the same kind of ease that you can stream a YouTube video.
- Downloading and installing the app creates a new wallet for you on the Steem blockchain which you can use to send money to anyone else anywhere in the world who also has the app.
- The app could either be sold for a small fee to offset costs or it could have a free and paid version (with extra features e.g. Blocktrades integration or direct purchasing of SBD).
- The app would only do one thing - transfer money and would be promoted solely for this purpose.
- A section of the app could be used for advertising Steemit and explaining about Steem but it would not be anything too overt.
Why Not Just Use Steemit Or Esteem for this?
- There is something to be said for simplicity.
- It is easier to brand and explain and allows people to covertly be introduced to Steem.
- There is no need to explain anything about posting etc or blockchain.
Problems
The main problem is how to get money into SBD on the app in the first place?
This is the big problem with almost all cryptocurrencies and I'm hoping that someone in the community has some suggestions on this. In the UK (and EU) there is a service called Bittylicious that allows credit card and direct bank purchases of cryptocurrencies.
I have used it many times to buy Bitcoins and it only takes a few minutes. They do not currently support Steem/SBD but they are open to new currencies if there is a market. I think partnering up with businesses like this might provide a solution to this issue.
This problem is also a geographic one. In some places like the UK it is not hard to purchase cryptocurrencies - I can do it using my mobile phone via services like the one I described before.
This could a least act as a source of getting remittances going until new methods of conversion become available .
Another alternative could be to point people towards Steemit as a means of making money and or funding their accounts.
They could post, curate or sell services (in the style of Fiver) to raise SBD to fill their acccount. Another alternative would be selling items on Peerhub.
What Do You Think of This Idea?
I know there are problems with this idea but I personally feel it is worth exploring.
I don't think an app of this sort would be too expensive to develop and I for one would be willing to contribute funds to help. I'm sure I'm not the only one. Please let me know what you think.
Thank you for reading.
If you like my work please follow me and check out my blog - 
Follow me on Gab.ai or on Twitter
All uncredited photos are taken from my personal Thinkstock Photography account. More information can be provided on request.
Are you new to Steemit and Looking for Answers? - Try https://www.steemithelp.net.
