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You have 5 major challenges: - Build a tech stack, that is limited on your skills - Deal with laws, regulation and banks - Be ready to feel the beautiful wor
by mamcx 5y ago
You have 5 major challenges:
- Build a tech stack, that is limited on your skills
- Deal with laws, regulation and banks
- Be ready to feel the beautiful world of "everyone will try to steal money"
- Been business savy to sell & manage this
- You will handle a potential BIG amount of money. Now you need to be reputable AND worry about been a target (in all senses: A target for the tax collectors, regulatory agencies, banks, entrenched player(s) that will try to take you down, etc)
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The first is challenging.
The second can be near impossible depending on a lot of factors (like, be friend with that "connected" people, have enough cash to support legally you can operate this, etc), specially if your country have not an already healthy ecosystem (a big tell something is fishy).
You need the second more than the first, if wanna be FIRST party on this, instead of a player in a segment of this.
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A probably better avenue is to incorporate in a place where you have access to a stablished processor (like https://stripe.com/atlas https://stripe.com/atlas) and be a intermediary. STILL you will deal with the 4 things above (and still need to have enough financial capability to deal with the incorporation, taxes, hiring of lawyer, accounting, etc), but will be relatively easier.
- webmobdev 5y agoDon't know why you are being downvoted - you are right about many aspects and this isn't a simple project at all that a fresher right out of college can realistically execute.