Embracing YapBay's Vision!

[0xScratch]

Hey @georgedonnelly,

Just found this repo while I was exploring projects within the backdropbuild, like what cool stuff people are building.

Kinda liked this vision and the way you explained how yapbay could act as P2P crypto exchange which be transparent, open-source and with other good features and functionalities. Tbh, even I felt this as a really necessary scenario to look around, where people look crypto as just an trading asset despite the fact that Satoshi and Vitalik visioned it be something which act as an new generation payment system where money will be not under the control of some greedy politicians and banks!

Although, making crypto as a digital currency which could be used in daily lives seems somewhat difficult because crypto has one main problem i.e volatility. It's volatile nature will always prevent people to accept it as something which they can used for payments...It's like I purchased something using Bitcoin which was X dollars at that moment and suddenly the next day it price got up..well I be in loss. Just felt this sharing with you..cuz if we really want to onboard a large amount of users to Web3.0, this is one of the most important problem devs need to solve.

Would like to know your views, like what could be a better way you think might solve these issues...and yea it be fun thinking about it.

Some Improvements

Just suggesting some improvements for your repo...Do keep a discussions section within this repo and you can add some main components in your README from that blog your wrote. It be helpful.

And that's it...Good luck Buddy!

[georgedonnelly]

Hi Aryan and thanks for your message.

Yes, volatility is an issue, no doubt! Some solutions for this include stablecoins, hedging (see something like bchbull.com for example) and lots of liquidity for moving between fiat and crypto.

YapBay is aiming to help with the third way a bit. When there are lots of options for moving between fiat and crypto, and when there is lots of competition for helping people exchange funds, then the fees will be minimal. And then people who are worried about volatility, if they don't want to hedge or use stablecoins, can just exit to fiat.

Crypto as transport layer is really just an early step towards achieving the overall vision.

Thanks for that suggestion for my README! I will definitely integrate that soon.

Thanks again and have a great day. I welcome any other feedback you might have. :)