
Show HN: Aave, program IBAN accounts and virtual debit cards - eboado
https://aave.com
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fiiv
Link doesn't work, says the IP cannot be reached. Maybe your DNS is
misconfigured?

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EthWarrior
[https://aave.com](https://aave.com) did it propagate?

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fiiv
Works now for me!

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EthWarrior
awesome, what do you think about the programmable features?

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fiiv
I think it's a nice idea, but I think I am unsure as to what exactly your
product does.

It seems you issue IBANs on-demand and manage the accounts behind them, so
you're essentially an API-driven bank?

And with events you allow people to for example tie certain programmatic
functionality to things like when money is deposited, correct?

I think there's a lot of potential for an idea like this but I am just
wondering about some of these details.

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EthWarrior
Aave Pocket basically allows to add IBAN accounts and virtual debit cards to
applications. In other words, the platform can have own IBAN account, the
application might have another IBAN account or even there might be use-case or
even transaction specific IBAN accounts.

For example, micropayments platform might have their own IBAN account for fee
collection and create for each task a task-specific IBAN account and even
allow end-users to create their own personal IBAN accounts (which can be
managed within the application on within any application that is part of the
Aave Pocket network).

In the above example, end-user might create own IBAN account and after
creating a task, an account is issued to the end-user's project and upon
finishing the task, the task specific account deducts the platform fee and
send the rest of the payments to the freelancer.

Due to the reason that all these participants are in the same settlement
network, credit/ debit card fees are avoided, which is suitable for the above
example.

Actually, what Aave Pocket is concretising is that when funds are transferred
from one e-money account to another, it is simply a change in the database. By
capturing online merchants/platforms and their end-users in to the same
payments systems, lot of fees are avoided.

For the end-user it also means a leapfrog in the user experience, since
currently challenger banks are focusing on providing mobile experience,
whereas Aave Pocket is taking banking where users are spending or earning.
I.e. I can manage my IBAN account in platforms, Online Stores or any where
where the Aave Pocket is integrated. It is interesting to see how consumers
would feel about paying bills from Netflix-like services or even Hackernews
(for example).

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MartinWichmann
Awesome news!

