Could this be the case if the DOLLAR kicks in the OASIS protocol?

Hi Nimiq Fam!

As you know, I make a lot of infographics regarding OASIS. I do this because I see the value in this, it is decentralized, boarder free, and fast and cheap.

Below I have designed a case of the protocol OASIS as a dollar bank is going to integrate OASIS.

My question is for you guys to take a critical look at this, and possibly provide feedback so I can update the design.


Current banking system:
Suppose I want to send Euro to a person in America (who eventually wants to receive it in dollars) Then this goes from bank to bank to bank. This procedure can take from 2 to 5 working days, plus the high FEE costs. See graphic.


Current Nimiq OASIS situation:
Currently TEN31 bank has the OASIS API integrated in their banking system. This bank supports the EURO.

May be a solution.
Should a US bank also integrate the OASIS API and thus support the dollar, the problem with the long transaction time (2 till 5 days) and the high fees may be solved.

  • Example solution 1 (If users uses OASIS/supersimpleswap when the Dollar is integrated)

Bob (EURO) uses the oasis protocol to send his money to Alice (DOLLAR). This proces will take less then 10 minutes and less fees.

  • Solution 2 Banks that integrate an BE OASIS. So there customers can use the oasis protocol at there own bank to send money from Europe <ā€“> America.

My question is for you guys to take a critical look at this and possibly give feedback so I can improve my graphics.

Also, I would like to know from team Nimiq if this can be the case should the dollar be integrated into the protocol OASIS. :innocent:

Thanks for reading this topic !

1 Like

You can also emphasize trust. For the average person, we usually send our money overseas through Western Union or a third party service. With Nimiq, trust is now coded into the HTLCs on the public blockchain.

For example, you can create another graphic showing third party companies like Wise or Western Union having an escrow with your money, but there is no 100% trust and guarantee. Nimiq HTLCs provides that in code.

Would also be cool if they could automate the process from Euro to NIM/BTC to Dollar.

  • That users only see Euro to Dollar swap. Like Iā€™m trying to visualise in the 3/3 infographic.