Incognito Debit Card

cacheless

Objective

Join the Crypto.com (CdC) debit card white label program to create an Incognito debit card.

Length

Unsure. Will update as we go. Current roadmap:

  1. Develop a web presence.
  2. Learn how the card will work in conjunction with Incognito (i.e., what token will users stake to unlock the benefits of the card? What are the benefits of the card? [I assume they’re similar to the CdC MCO card, but I want verification]).
  3. Start a viral waiting list to prove demand.
  4. Submit the idea to CdC for approval.
  5. If approved, set up business entity.
  6. Coordinate between CdC and Incognito devs for integration.
  7. Roll out wider adoption phase.

Key Results

  • Allow Incognito users to spend their crypto
  • Increase PDEX transactions
  • Potentially create a fiat onramp for Incognito

Note

CdC recently launched their Debit Card White Label Program.

[N]ow calling for exchanges, wallets and projects to join! We can issue debit cards with your brand, save you time to build the infrastructure, and ship in the US, Europe and Asia. Fill in this form and we will call.

I believe joining this program will bring a lot of utility and increased transactions to Incognito. According to the poll I created, Incognito users like the idea.

Capture2

Up to this point, I have roughed out a brand and web presence for the card. Input and ideas definitely welcome!

26 Likes

I am on board with the Incognito crypto debit card! I had thought about bringing it back when I first became a member but did not want to cause a potential problem by link dropping coming across as promotion. Anyway, I much prefer the way Blockcard.com has their tier structure set up and think this could help stabilize liquidity substantially.

We already have the staking pools for generating the rewards offered by the card and do like that blockcard has it set from around $250 to start getting 1% back then about $1,160.00 to get the 6% back. I am thinking we could do just a bit better in the % back as this reward is not paid instantly anyway.

I think based on what would be driving the rewards system for the Incognito Crypto Card, there is no need to create a second coin for use with the bank card. For the bank card to be the most benefit from the start, as well as provide much needed support for the liquidity pool I feel one coin is the better option.

My Cogs are turning, love what this community is churning out in ideas and progress. Would love to lend as much help as possible to this project. Not a Coder, I do know marketing from years of my own online ventures, never been a big social media person but do see its need in today’s world. Management is really my strong suit. Will help in any way!

6 Likes

I would totally be down for this, in fact I’ve been wanting something like this for a while. The problem is, well at least in the U.S. your going to need to do KYC.

Personally, I thought about selling privacy cards for crypto, and having them automatically reload on transaction conformation, but it’s against their terms and services. On my website, I am planning to sell visa giftcards for pCoins, as that’s currently the only thing I could think of that would allow something like this without KYC.

If I have to KYC, I will, but as a privacy platform, there should be an option without KYC. I know that’s definitely no small task to complete but I’m optimistic.

Also @Tryche I believe its actually https://getblockcard.com/ The link you listed was dead.

10 Likes

@Revolve, gift cards are a great idea. That’s what Fold does. You just gotta pay through Lightning Network. Otherwise, you have to add a credit card.

With the white label debit card, you’re right, there will definitely be KYC. Crypto.com requires it. It has me debating whether I should call it the Cacheless card. At least the Incognito part of it is “cacheless,” so to speak. Thoughts?

2 Likes

I am wondering if this in the end will get through Crypto.com KYC and AML compliance parts… I have heard of people having transactions stopped so that source of funds could be verified, as part of AML. So if all funds being added to card are private and cant be tracked, do you think that would make it not even possible for integration into CDC white label program?

I am by know means an expert on this topic, but even knowing CDC required KYC, it might be worth a reach out to them, to see if there are even more specific requirements on fund tracking for AML.

Maybe an easier way to ask, is to see if they would support a Monero/XMR card… if that can get through, then incognito should be able to get through too.

4 Likes

@Doc, excellent question.

I imagine the way this would work is, in order to top up the card, the system would have to burn your privacy tokens and mint normal tokens, which it sends to the card. If that’s the case, the tokens wouldn’t be private, but their origins would be. So it could throw up AML flags. I’ll definitely have to ask CdC about this.

3 Likes

Does anyone know of a good (and preferably inexpensive) viral waiting list service? You know, the kind where you can refer other users to move up in line? Kind of like https://upviral.com.

Can anyone here code something like this?

1 Like

You know, this might be a stretch, but…
The reason I was drawn to Incognito was because I had a similar idea to the platform. It wasn’t as privacy focused, but it was the same idea nonetheless. I was trying to figure out a way to gain crypto mass adoption. I thought if I centralized crypto with my own virtual currency, people could use a simple app to transact their money like Venmo. Incognito created the platform I was dreaming of, but instead of centralizing it, they used another crypto blockchain. I don’t know why I didn’t think of doing that tbh.

Anyways…
The next goal for my idea was to make a proprietary payment processing app/device. People use credit cards all the time and are familiar with it. The disadvantage crypto has is not having that physical tactile transaction. I feel like it’s psychologically important for you to have that to gain adoption.

So my idea was to create a new physical transaction media for my centralized crypto platform. But I feel like we could do the same thing for Incognito. Your not going to be able to make actual transactions with a crypto Debit Card without KYC. So what if we make our own transaction method that works with crypto instead. We keep trying to implement crypto into the old system, why don’t we just create a new one and bypass the need to convert back to USD/EUR or whatever.

The technology exists, and is relatively simple to create. You can even bump up the security a lot more then what currently exists with credit cards. Imagine swiping your “Incognito card” and a notification pops up on your Incognito app. All you have to do is accept the transaction and the crypto automatically sends. Card processing fees aren’t even really a thing anymore, so there is economic advantage to adopt this payment method. The device could be cheap and be put into any store. A device like this could potentially bring crypto mainstream as an actual form of currency.

Sure your going to have to get people use it, but eventually the switch will happen anyways. Crypto is the future, we might as well be at the forefront.

9 Likes

That’s an awesome idea. You probably wouldn’t even need a card, just your phone to make the payments. Use NFC or something.

3 Likes

Yeah, anything really. It would just be cool to have something on your key chain as well. Maybe like a tile with an NFC chip in it. Really cheap to make and easily customizable.

As for the device itself, a cheap tablet with the right software, “Incognito Merchant App” would make it work. Since most people have their phones anyways, you could make the payment with your phone, I just wanted to have fun with it. If your creating your own payment processing device, might as well make it cool :joy: Also people would be less opposed to the change if they have some sort of physical card, just because they are already used to it. Theoretically if you are using NFC, it doesn’t even matter what your using to make the transaction, so people could have custom things if they wanted.

Overall though, I think it’s an interesting direction to take it. It will definitely cause some big noise and gain a lots of attention. Especially with the privacy aspect to it as well.

8 Likes

Ofcourse it broken! I just type in blockcard.com and it corrects if for me in my browser so did not verify if link actually worked. Opppps!

@Revolve, is this a product you think would fit well within the Burnmint brand, or are you thinking of developing this as a separate project?

If under the Burnmint brand, I think we could develop two different products: the Cashless card and the Cacheless card. Maybe the Crypto.com white label card would be the Cashless card, and your product could be the Cacheless card–something that’s truly more private.

1 Like

I’m not sure if I have the complete technical skills to make something like this as I haven’t done any app development. I haven’t even messed around with the incognito SDK’s yet. I would definitely need some help. But I don’t mind coordinating with you and your brand, if that’s what your asking.

It was honestly just a cool idea, but if you want to make it reality, then I guess lets do it :joy:

Currently we don’t have payment requests in the Incognito app, but I think that would be a good start to have something like this created.

Since there is no server or messaging system we could implement a custom Incognito token that you send with a specific memo. The Incognito app interprets that particular token being sent to you as a payment request, and the memo is the amount to pay and the return address.
If that could be implemented that could be huge. However messing around with Incognito, even if I put a high PRV fee, the token seems to take a while to transfer. It would still be cool to add this feature, but I don’t know if you would be able to pay at check out lines with speeds that could take up to two minutes+

5 Likes

Hi @Gold not trying to take over your project, just was trying out things last night. Here are a few designs it managed

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From the research I’ve done getting approval from blockcard or CdC will be no easy task and we might need to stake their tokens to show commitment
Obviously theirs a typo on the card.

13 Likes

Looks good. I have an idea. What about (working with the black card) put all card numbers on the back of the card. Only chip and logo on front. you take the incognito logo and blow it up and center it on the card? Just a thought. I’m sure gold will appreciate the efforts!

1 Like

Completely agree. I do know for trading platforms there are different levels of KYC depending on what type of account. I will use the folks as Kraken as an example.

For the starter account. There is no deposit limits, there is a $5,000.00 daily withdrawal limit.

The information required for this starter account is Full name, email address, primary adress and phone #. Maybe we could do something like max card balance $5,000.00? this about as basic a KYC were gonna get. Funding could be simple as a couple button presses inside the inincognito app should you need to add more.

4 Likes

Sounds good. I’ll give it a shot, was also thinking matte black with fluorescent green around the edges.

2 Likes

Lookin good Gold…:slightly_smiling_face::sunglasses:

Its a neat idea but I doubt it can work without KYC.

If we make our own crypto transaction processing method, we don’t need KYC.

You would be able to implement the system in stores. I think having both options would be the move.

1 Like