Hard question, how do third party money transmitters get paid? If there is no up-front cost, and it's all backend. What connects the two ? How do money transmitter connect the fiat funds that were paid to the waves platform or end-user? Where or how is it digitized to the block chain to go around swift ? For instance, I'm starting a business and need funding. I create a token on the waves exchange and sell it, so your money transmitters take fiat and release said token. Now the money taken by the transmitter is still fiat ? How is it moved, stored and released back again as fiat to the end token seller ? And how is the transmitter paid for their role ? If anything the exchange would have to have bank account, that's on swift ? I'm confused maybe someone can help explain .. Thanks
Gateways are issuing fiat assets on the platform by themselves, while depositing fiat it is being converted to corresponding fiat asset on the platform, you are creating asset and doing crowdfunding next with fiat or BTC assets, while withdrawing fiat your fiat asset is being converted the same by gateway to fiat.
Okay.. Help please? Gateways are issuing fiat assets ? Please walk me through a real world example. I'm totally confused. I'm a gateway I have 10k in fiat, how do I put that asset on to the platform?
ok.. another question? I guess the biggest part, where is this fiat being kept ? and how is it being accounted for, in relation to created assets ?
Example with Bitcoin we understand the relationship to fiat, it was mined and only so 21 million will be ever created, and the markets help determine the value. The on ramps, and off ramps for fiat are exchanges which are linked to banks. I can't seem to wrap my head around the Waves model for some reason.
Btw thanks in advance
