We’ll explore more. Thanks for the suggestion!
This is a product suggestion. Would be great to have facility for notification if conversion rate of Tally to £ hits a certain level or levels, or moves by a certain % - could act as an alert to deposit more or withdraw/spend.
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Have the dev team decided on showing average buy and sell prices and holdings of tally relating to ounces as I’ve mention before? Is this something that’s likely to be added in the next 3 months or isn’t it likely to happen at all?
@M1das_Touch thanks for the suggestion. You’re not alone in thinking this. We have plans to develop mechanisms to notify users for when Tally, and notably a users Tally holding is up or down. It’s very much in the roadmap for the near to mid future.
Great, thanks
is there any plans to be able to deposit cash like starling do via the post office ?
Not currently.
@JonnyE I think this is something that we will carefully consider. Tally operates in the unit of milligrams purely to make it easier for consumers to understand and make it more relatable to fiat currencies.
Are there plans to add more security features, I downloaded my app on two phones, although it was hand to test something out, it was also a bit worrying that I want automatically notified about it, integrating some more security is needed really.
@sb990, just to add to that idea. Tally operates under an E-Money Institution Licence (held by a regulatory partner in our platform stack). This means we can’t accept physical cash directly into a Tally account, it has to come from another bank account (which also adds a an extra layer of compliance before reaching tally). So you could deposit GBP at the post office into your Starling account, and then decide how much of your money you want to hold in GBP and how much in Tally, and do a funds transfers into your Tally account of the relevant amount.
@JonnyE absolutely. We are looking at some very cool and amazingly innovative ways to lock this down. Our first step to this is to tie all accounts mobile number. Security is absolutely paramount at Tally and we will always be looking to innovate and lead in this area. Notifications for account logins on unknown devices in unfamiliar locations is something we are looking at.
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I kind of understand that but the conversion of tally to sterling is as easy to relate to as sterling to satoshi… ie not very relatable.
234233 (random number) tally or satoshi means nothing to me but 3/4 of an ounce or bitcoin does.
I know tally isn’t a crypto, just an example
ahh ok shame it couldn’t be done direct hassle free as this would be a good piggy bank so to speak if you could deposit you loose change etc
it can be done and it is easy, just has that one extra step (i.e. into your GBP bank account first, then transfer to your Tally account).
What other ideas and/or features and updates are being discussed?
yes I appreciate that but I thought you want to push tally more as a primary currency rather than a secondary
Hi @JonnyE we looked at the unit of account and measurement of monetary units deeply, when designing Tally. We thought it pragmatic to still link it to a metric measurement that already exists (i.e. milligrams). An ounce of gold currently is £1250. If you buy a cup of coffee with this measurement it’d be 0.0024 of a “one ounce unit” where as you can buy the same cup of coffee with 90 Tally. Which we believe is the better way for easier understanding of the units of currency for mainstream adoption.
No one I speak to about tally and that’s quite a few, would use it as a primary account, but they do think it makes a perfect companion account to their traditional fiat one.
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Realistically it is going to take time for people to consider using Tally as a primary currency, although this is our ultimate goal. In the meantime by lining up easily with traditional currencies we make it a seamless experience to go from Tally to fiat and back.
Fantastic - that’ll do! (for now) if it wins us lots of new customers.
We always thought this would likely be the case i.e. people would trial it as a secondary account initially.