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12796193 No.12796193 [Reply] [Original]

Will Chainlink be able to send DAI directly from a smart contract to a bank account?

>> No.12796206

yep

>> No.12796216
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12796216

>>12796206

>> No.12796233

>>12796193
>>12796206
How the fuck you expect it to do that? It's an information transfer service, that's it. If someone makes an adapter that says when Alice pays Bob $50 in fiat transfer 50 DAI from a smart contract Bob has added money to Alice then yes, chainlink can help do the transfer, but someone still needs to write the smart contract.

>> No.12796238

>>12796216
but it can

>> No.12796246

>>12796233
>he is still living in the third industrial revolution
kek

>> No.12796253

>>12796233
>yes, chainlink can help do the transfer
agreed. Motherfucking
FAT
A
T
protocol

>> No.12796255

>>12796238
No, it can't.

>> No.12796270

>>12796233
Let's say I have a smart contract raffle that happens over the course of a week. You can play with DAI. Players buy raffle tickets on the blockchain.

Could LINK actually send DAI straight from a bank account using an API to a smart contract once PSD2 (if this were in Europe) is implemented?

>> No.12796277

>>12796270
And then actually just send the DAI to the bank account of the winner?

>> No.12796280

>>12796270
If you have a combination of api calls, you can use chainlink to smart-contractize it.

>> No.12796307

>>12796270
DAI IS A TOKEN, SOMEONE NEEDS TO AGREE TO TRADE THIS TOKEN FOR FIAT, SOMEONE ELSE MUST THEN AGREE TO TRADE FIAT FOR THIS TOKEN. IT CAN'T JUST MAGICALLY BE "TRANSFERRED" OR "CONVERTED"

>> No.12796326

>>12796307
STOP YELLING FAGGOT. I realize DAI is just a token...So there needs to be some sort of intermediate exchange that would go from DAI to USD to go to a bank. It still seems like a smart contract could do all this some how.

>> No.12796343

so chainlink is not really needed? lmao

>> No.12796346

>>12796326
Or Wirex

>> No.12796368

>>12796307
>trading bots aren't a thing

>> No.12796388

>>12796343
You could do it with something else. But not automated and trustless.
An exchange could run the raffle, but you have to trust them
If you want it trustless, tamper proof and self executing, and interacting with smart contracts and APIs you need chainlink

>> No.12796389

>>12796368
Can you instruct trading bots to cash out of an exchange?

>> No.12796395

>>12796326
I always think it's funny how capital letters are interpreted as yelling now.

If you had a website for each country you could pool everyone in that country together. People could say they wanted to sell their DAI for USD and send it to a smart contract. The DAI could then be locked in that contract for a period of time. If someone wanted to buy DAI with fiat they could go to the site and say they wanted to buy DAI, they would need to enter an ETH address for the DAI to go to, then the website would give the bank information of someone selling DAI. When Chainlink tells the smart contract that the Bank transfer has been completed, the DAI can be unlocked and new owner can claim it.

>> No.12796413

>>12796395
the same system can be used to do many cool things, like create a full decentralised DEX which works over any blockchain.

>> No.12796431

>>12796389
if they have an api for it, then yes

>> No.12796458

>>12796431
Are there any exchanges that offer this currently?

>> No.12796459

You could do smart contract that would shitpost whenever the price of chainlink went up or down.

>> No.12796468

>>12796458
dyor lazy sack of shit

>> No.12796487

>>12796468
I'm not going to check 1000 exchanges faggot. Maybe someone here already does something like this and that's why I'm asking. I'm trying to flesh out an idea. Something your small brain could never accomplish.

>> No.12796508

>>12796487
For a genius, you sure seem uninformed, daft and dependent on other people. Good luck with your inevitable disaster.

>> No.12796549

>>12796508
I'm not genius, just smarter than you. I bet you hold XRP.

>> No.12796614

>>12796270
PSD2 is already running. It’s awesome finally feeling some streamlining in this area

>> No.12796618

>>12796549
Sure thing. Please ask another childish question. I'll refrain from providing an accurate answer just to see you struggle and pee yourself.