Ok so then ATM withdrawal will be possible with any type of coin on the Blocknet using ATM's accepting XC(XXX coin converted to XC then sent to ATM).
I don't know about you but I think this is a major deal and should be advertised as part of the Blocknet rollout.
Will this(can this?) be automated through the Blocknet? This would be a big thing in my opinion. It gives XXX coin to fiat currency for any coin in the Blocknet. This is a fond wet dream for any coin to have, and takes being in the Blocknet to a whole new level. And OMG what a selling feature that would be.
Question for then Devs.
With XC current able to be used at ATM to withdraw funds, with Blocknet will people be able to use any coin connected to the Blocknet to directly withraw from those ATM's.
eg. Coin XXX is on the Blocknet, they send XXX coins through the Blocknet and they get converted to be used with the ATM.
They'll be able to buy XC with their coins and withdraw XC from an ATM.
= More buy pressure for XC. :-)
Yes an automated exchange of coins is a central function of the Blocknet, since every service will be paid for by exchanging one kind of coin for another.
To give an example:
- XC user pays to use XYZ's DNS service
- XC user pays in XC but the XYZ nodes only accept XYZcoin.
- XC is automatically exchanged for XYZ on the decentralised exchange without the user's direct involvement
- and the service is rendered.