Proposal “CRYPTOLIFEX-LICENSE-VENEZUELA“ (Active)Back

Title:CRYPTOLIFEX (VENEZUELA): LICENSE for Cryptocurrency exchange offices
Owner:Cryptolifex
Monthly amount: 97 DASH (6358 USD)
Completed payments: no payments occurred yet (3 month remaining)
Payment start/end: 2018-11-16 / 2019-02-14 (added on 2018-11-02)
Final voting deadline: in passed
Votes: 142 Yes / 194 No / 81 Abstain
Will be funded: No. This proposal needs additional 540 Yes votes to become funded.
Manually vote on this proposal (DashCore - Tools - Debugconsole):
gobject vote-many e23c1c2c307fbe98a815a9fbc152c455e6425e33b11e6f26602f9f7b35dc6568 funding yes

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Proposal description






CyptoLifex requires a license from the Venezuelan state in order to materialize its commitment to expand Dash in  the Venezuelan
market and favor its value stability in the international market thru its direct convertibility of the fiat currency of the country without
the need to triangulate with other cryptocurrency. This will also allowthe legal operation within the national territory.  The  license is
issued by the crypto active superintendence, created on 04/09/2018 for cryptocurrency exchange offices.


https://i.imgur.com/6aLz13d.png


Requisites required by the Superintendencia Nacional de Criptoactivos y Actividades Conexas (SUNACRIP) to obtain the license:

https://docs.google.com/document/d/1HNhMxjB5iOVARZM-Qfeqtg1ioper09yu8PfgymucjNs/edit?usp=sharing


https://i.imgur.com/6uuDAbC.png

Cypto
Lifex
, due to the fact that the budget in DAO is adjusted to the feasibility of the proposed projects,
decided to distribute its budget in 3 months without alteringthe time foreseen for its execution. As a result:

https://i.imgur.com/3dWHr7f.png


OUR CURRENT SITUATION


The crypto actives superintendence is  an autonomous  entity in charge of supervising and  ruling  all  activities  related  to
cryptocurrency and other crypto actives. However, the Venezuelan State was not legislating on the crypto actives exchange
offices around the date of the previous proposal (https://www.dashcentral.org/p/Cryptolifex ).

Thanks to  the  willingness,  support and  interest of a  multidisciplinary team conformed by highly  qualified professionals;
we could start, under a future contract mode, the collecting of all requisites required to obtain the corresponding  license
that allows the legal operation in the country. Below we attach for your review and certification said contract.


https://i.imgur.com/QZdqfwG.jpg


On the other hand, due to the fact that CryptoLifex Group C.A. J-41093271  was  registered as a  shared  office  business
and manages its operations there, it must be relocated in other premises where it can operate in a sole way in conformity
with certain documents that are part of the requisites required by the cryptocurrency superintendence.

ADVANCES

  • Platform culminated https://www.cryptolifex.com
  • Demonstration of the operating platform in Livenet at the 6th Dash Venezuela Conference.
  • The platform has been operational for two consecutive months in the testnet for all public without any inconvenience.
  • Over 122 people registered during that period.
  • Over 500 visits by different users during the last two weeks without any kind of advertising.

NEXT

CyptoLifex  keeps its commitment of offering an entire year of total exclusiveness to the Dash community on its platform. In addition,
it keeps on progressively strengthening the consecution of its objectives. This time around, it introduces its plan for the year 2019.

https://i.imgur.com/FYlBT1J.png

From its planning, CyptoLifex  takes on the challenge to become the first licensed peer to peer exchange house in Venezuela.

Show full description ...

Discussion: Should we fund this proposal?

Submit comment
 
2 points,14 days ago
voting NO. I'm not for completely funding a start-up that makes no obvious improvement on the 3 current exchanges: Cryptoway, Cryptobuyer, Basichange
https://dashhelpme.io/compraventave-en/
Reply
3 points,26 days ago
Not any mention in here of the 3 exchanges that Dashhelpme refers consumers to (Cryptoway, Cryptobuyer, Basichange)!! How is CryptolifeX different than these 3? : )
Reply
3 points,27 days ago
Investing in paperwork in a communist economy does not make sense to me. Better to do things on the black market.
Reply
5 points,1 month ago
SCAM proposal !!!!
Reply
-8 points,1 month ago
Hello @RobertoDiaz,
if you're going to say that at least argue it with base
Reply
9 points,1 month ago
1) ask includes, office rent for a year!!
2) ask includes employee salaries for an undetermined time.
3) you have no capital in the project offering aka 0% risk
4) Venezuelans cant afford to invest in their own exchange, how will you have any meaningful volume?
5) you claim you are working on a payment system for merchants. ( Dash dinehro and eletropay already address these issues especially with the new direction ive assisted them with btcpayserver )
6) you would like to launch into other countries with little to no experience or cash flow.
7) your proposal does not provide a complete business proposal picture rather just a set of asks.
8) proposal has several employee related asks but maintains a high level of ambiguous answers.
Reply
0 points,1 month ago
This post is literally the same post as that of Realmrhack from 2 days ago. Pls confirm you are not the same masternode owner as Realmrhack, and that you are not using multiple Dash Central accounts to influence the upvote and/or downvote of proposals and comments.
Reply
2 points,1 month ago
I confirm i'm not Realmrhack
But he has raised some valid points and the MNO community deserves to be aware of the SCAM this proposal is!
Reply
1 point,1 month ago
@qwizzie it is definitely not me.
Reply
-6 points,1 month ago
Hi @RobertoDiaz,

1)In Venezuela, especially in Caracas, the majority of the contracts to rent offices are like this: 1 year in advance, 3 months deposit and 1 month of fee for the person in charge.
That's why we put the budget for one year of rent

2)Given that it is a sustainable business model, the first days without license will not generate any income, that's why we are requesting an amount of salary to pay the employees for the stipulated time of the license acquisition.

3) We do not understand your concern. It is good to know that we have inverted more capital in this project that what you think. Just at the beginning of the first proposal, we had lost 60% approximately of the budget requested.

4)There are no Venezuelan exchanges with license between Dash and VES. All the people wanting to exchange their Dash for VES and viceversa will use our platform.
With good publicity and operating legally we can achieve a significative volume.

5)It is good that there are those payment methods, but what’s wrong to create a new one that will not be financed by the DAO?

6) That is in our future plans but our first priority is to serve the Venezuelan people.

7)Here you can check out our business model, but that’s no a part of the proposal (in spanish) https://docs.google.com/document/d/13yvB72HM-PgcF9r4oubpgp0v1_Mv3ouKCqT0lP1KD-M/edit?usp=sharing

8)We are trying to express ourselves as clear as possible, would be great if you point out what you are not understanding.

These same comments have already been answered below to @Realmrhack
Reply
1 point,1 month ago
MNO have no incentive to lie
Reply
8 points,1 month ago
It's not clear to me, do you have the license already? If not, what do you think your chances of getting the license are?
Reply
-6 points,1 month ago
Good day @quantumexplorer.
No, we do not have the license yet but to this date, there are 6 exchange sites with license already. Taking those success examples into the equation and adding our multidisciplinary team we can say that our chances of getting the authorization to operate are very high.

Greetings.
Reply
0 points,1 month ago
Thanks for your proposal, I have 2 questions:

1) A few of the comments have indicated here that from the date of launch, Cryptolifex will offer 12 months of exclusivity to Dash. Can you please confirm that you will not add any other cryptocurrencies during this period? I am curious about your position on Petro, which will presumably live at the time of your launch. Are you in any discussions to include Petro, before or after the 12 month exclusivity period?

2) Who are the other investors in this project, who will ultimately own equity in the project? Is the Venezuelan government, or any organisations or people associated with the Venezuelan government, involved in any way other than as the regulator?
Reply
-5 points,1 month ago
Hello @strophy, thank you for you questions

A.1) We confirm that we will not add other cryptocurrencies during the commitment time.
We already talked about adding Petro after the year (DASH exclusivity period), only the PETRO-VES / VES-PETRO pair.
Say that we were not going to add the petro would lower our chances of getting the license.

A.2) Currently we do not have an investor.
We are the only owners of our project.
neither the Venezuelan government nor people associated with it are linked to the project.

Greetings.
Reply
9 points,1 month ago
I want the DAO to spend money improving Dash in Venezuela. I don't want the DAO providing Seed Funding for unproven startups. Voting No.
Create a DAO specifically for this venture and you'll probably find some MNO interested in becoming shareholders.
Reply
8 points,1 month ago
We get one year of exclusivity which will be over during the crawling phase of this proposal and they will do exactly what anypay has done which is support other currencies.
Reply
-7 points,1 month ago
Within one year from now, Dash will be established in Venezuela far beyond the reach of *any* serious threats by competitor projects. IMHO
Adoption is growing at an exponential rate in Venezuela, and we have all the reason to be excited over it!
And i'm not making this up, you can look and verify for yourself @DiscoverDash
Reply
9 points,1 month ago
Question 1: This is a bit vague, and why only a year ? can you please explain in a bit more detail
"CyptoLifex keeps its commitment of offering an entire year of total exclusiveness to the Dash community on its platform."

Question 2:
Why should Dash pay for this ?
2.1 Aren't there already alternatives, that cost Dash nothing ?
2.2 Furthermore isn't Dash the most popular crypto in Venzualla, shouldn't other coins now pay instead for integrations instead of Dash ?
Reply
7 points,1 month ago
Question 3:
How high are the fee's for buying Dash ? seeing if we are going to pay for it should be completely without fee.
Selling Dash you could perhaps ask a fee.
Reply
-6 points,1 month ago
Hello @A_node_to_a_Master
Thank you for your post

Q1:The legal limitations in Venezuela in terms of the operability of the exchange houses have made it difficult for us to place the platform on Livenet. However, the commitment to exclusivity for one year will get start once the platform is launched.
Why it will be a year? Given the great potential and the plans that Cryptolifex has in mind, we do not would like to limit it, however the advertising to Dash by us will exceed that year and will be unique to Dash as a method of gratitude without requesting a budget from the DAO.

Q2: Dash will be the only cryptocurrency in the platform for one year, the publicity we will do for the site will be tied to Dash. If they know Cryptolifex they will know about Dash, it is a win-win.
Q2.1: Yes there are a few based in other countries, with no license and the majority work exchanging Dash to BTC and then VES which causes a lower price of Dash for the consumers. It is important to mention that these exchanges get blocked by the government because they are operating without a permit (license)
Q2.2: Dash is the second most popular thanks to the work of Dash Venezuela, the most popular still remains BTC.
The other cryptocurrencies do not have a great system like DAO, thanks to this great system we were able to start our project.

Q3: The fees are for the people who post the announces (buy or sell Dash), now it is 1% (subject to change by the superintendency). The people that buy or sell directly from the announces will do so completely free. Lastly, there is a fee for withdrawing Dash from the platform which is 0.0002.

Greetings.
Reply
12 points,1 month ago
i'm not convinced that exchange specific costs like these mandatory licenses (which look similiar to the Bitlicense in the USA), should be funded through Dash budget system. I consider these more like operational costs for exchanges.

Consider me Abstain for now, while i monitor the comments.
Reply
-7 points,1 month ago
I largely agree with your viewpoint
However, i guess without any access to capital or loans, it will be quite difficult (if not outright impossible!) to build a working exchange that is self-sufficient while their initial turnover is not yet sufficient during the starting phase, in order to fully cover operational expenses on their own.
Reply
-8 points,1 month ago
Hi qwizzie, thank you for posting.
We agree with you that the costs for the license should be covered as operational costs by the exchange but we have to consider that Cryptolifex is not in livenet yet and for that reason it does not have an income to support that kind of stuff.

Suggestions are welcome.
Greetings
Reply
9 points,1 month ago
In other words no skin in the game, and if it all fails its okay the dao is here to help.
Reply
13 points,1 month ago
@cryptolifex in your previous proposal Janurary 2, 2018, https://www.dashcentral.org/p/Cryptolifex

You where funded you indicated your marketting budget for 12 months, this would take you until Janurary 2, 2019.

Why are you making a new request for additional funding when you clearly indicated in your previous proposal you had the funds neccessary to start your exchange based on the information then?

Also in that proposals the deliverables included a functioning exchange with users, now 10-11 months into the proposal that position has changed rapidly with a new ask,

Care to explain?
Reply
0 points,1 month ago
+1 I would appreciate an answer to this question
Reply
-4 points,1 month ago
Greetings. @strophy, @Realmrhack

After being financed by DAO and starting the project,the government began to regulate the exchange houses in Venezuela, so we could not start operations in the stipulated time nor add those costs in the budget of the first proposal. Dash's one-year exclusivity has not yet started

Thanks to the multidisciplinary team for their advice and support, the probability of obtaining the license increased considerably, which made us make a second proposal, since we do not have the necessary resources and do not lose the work done.

The exchange is working and all the tests were carried out successfully, we left the exchange on the testnet since placing it on the livenet without the license will block the site and lead to legal sanctions.

Making the change from Testnet to Livenet does not take more than 10 minutes.

We hope your concerns were addressed
Reply
7 points,1 month ago
FYI,

This is splawiks comment after i made my initial comments

"Good real concerns regarding the comment on DC. Didn't know they are actually a returning proposal. Will follow this thread closely after all. Cheers and have a good day."
Reply
-2 points,1 month ago
I agree on above, still I want to see how this evolve.
Reply
7 points,1 month ago
@mno we are being asked to fund an exchange for ground up,
With a high probability of faolure and low roi.

In the event it succeeds we the dao will be receiving 0 equity,

The PO should at minimum consider equity to dash centures when able
Reply
6 points,1 month ago
From the ground up*
Reply
9 points,1 month ago
There is some concerns that pop up, your launching an exchange with absolutely no skin in the game.

1) ask includes, office rent for a year!!
2) ask includes employee salaries for an undetermined time.
3) you have no capital in the project offering aka 0% risk
4) Venezuelans cant afford to invest in their own exchange, how will you have any meaningful volume?
5) you claim you are working on a payment system for merchants. ( Dash dinehro and eletropay already address these issues especially with the new direction ive assisted them with btcpayserver )
6) you would like to launch into other countries with little to no experience or cash flow.
7) your proposal does not provide a complete business proposal picture rather just a set of asks.
8) proposal has several employee related asks but maintains a high level of ambiguous answers.

All in all if you cant afford to even get your own software and 'av' licneses that you claim you need on your own, than one can only imagine how much dash the local users will be exchanging on your platform

My concern here is you may develop the exchange but will ultimately have low volume and or other currencies being utlitised which gives dash dao little to no incentive

Thank you voting NO.
Reply
-9 points,1 month ago
Greetings Realmrhack,
About your concerns

-Yes, 1 year. In Venezuela, especially in Caracas, the majority of the contracts to rent offices are like this: 1 year in advance, 3 months deposit and 1 month of fee for the person in charge.
-Given that it is a sustainable business model, the first days without license will not generate any income, that's why we are requesting an amount of salary to pay the employees for the stipulated time of the license acquisition.
-We have inverted more capital in this project that what you think. Just at the beginning of the first proposal, we had lost 60% approximately of the budget requested.
-There are few known exchange houses in Venezuela, which makes Venezuelans use the most recognized exchanges internationally.
-With good publicity and the expansion to various countries we can achieve a significative volume.

Thank you for letting us know your concerns
Reply
8 points,1 month ago
That did nothing to address my concerns in their entirety
Reply
-8 points,1 month ago
Easy Yes on this one.
Good luck with your project
Reply
-6 points,1 month ago
Hi @DavidGonzalez,
Thank you very much for your support and good wishes.
Greetings.
Reply
-8 points,1 month ago
When reviewing the comments regarding our recent proposal, we consider it fundamental to offer a concrete response in the technical aspects, without forgetting to understand the value it represents for the DASH community, to locate ourselves in the foundation and postulates of the expansion that the community is looking for use DASH as a Digital currency.

We are in a historical moment, especially from the financial and commercial point of view, what some have called a paradigmatic change.

Like any change of paradigm, there is a conflict of interests and visions, especially in dogmatic and pragmatic positions, which is not new, nor archaic, but rather valid over time.

The innovation of the Cryptocurrency nowadays implies a paradigmatic change for the modern world, in its social, commercial and financial dimensions; surely with the creation of the first cryptocurrency, the dogmatic conservatives and defenders of the fiat currencies, thought it was crazy, today it would be enough to see the growth of the cryptocurrency market in the world.

As the philosopher of management, the Austrian Peter Druker, would say, "Where there is a successful company, someone once made a brave decision".

Druker refers as brave the fact that it was a risk decision, as in any project, to get a profit you have to take risks, because who does not risk or win or lose.

However, a risky decision does not imply improvisation, or a simple prestidigitation or illusion that what happens is what is desired.

Cryptolifex, has formed a multidisciplinary team, as detailed in the proposal, the team, in a preliminary way has focused and helped us to infer the cryptocurrency market in Venezuela.

In the twelfth conference of DASH Venezuela the indicators of the growth and perspectives of DASH in our country were shown, considering its exponential and dizzying expansion as a solution before the economic situation of the country.

From the technical point of view, the growth of the monetary liquidity of the bolivar, and the control of change in the country, has promoted the Cryptocurrencies as escape valves to preserve personal and business finances.

The volume that we expect to obtain in the operations within our platform, is determined by the added value that would represent, when obtaining the license of operations, for our clients, the power to legally and transparently register the personal and company operations, in its accounting, in a direct exchange between the Bs. and the DASH, which represents an advantage in relation to the international exchange houses.

In relation to the cash flow and investments made, it is important to highlight that the expansion of the DASH is not only a new project, but that it is also a new economic area or sector, therefore the financial projections have high margins of errors in virtue that when valuing financial assets by methods such as the CAPM (Capital Asset Pricing Model) the Beta or risk rate to be applied, has no concise precedents that allow to reduce the margin of error in the projections, however, market expectations of Cryptocurrencies are extremely positive.

Finally, regarding the comment that the DASH community should finance only the operational activities, to the detriment of covering licensing requirements, marketing, financial and strategic aspects, we believe that this is a one-dimensional view of the subject; the expansion that the DASH community wants and seeks in the world, does not depend exclusively on operational and technological factors, we believe that this strength is very solid in terms of the potential of the Cryptoactive market; the expansion of the DASH is a multidimensional or multifactorial issue, depends on factors beyond the technological, we believe that the social aspects of trade barriers, legal aspects, are the key factors to overcome in this world that is torn between passing or remaining in a point that has become a turning point for the future of trade and finance.

Cryptolifex
Reply
-8 points,1 month ago
Conclusive video and presentation, good job.
I like the prospect of having a liquid Dash/VES market where Venezuelans can actively buy and sell Dash.
YES vote from my masternode :)
Reply
-6 points,1 month ago
Hello @Sergio87 a warm greeting.
Thank you very much for your support
Reply
-8 points,1 month ago
Excellent idea, to create a regulated exchange in Venezuela, we need it.
You have my vote +1
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-6 points,1 month ago
Hello @RobbyDash a warm greeting.
Thank you very much for your vote
Reply
-8 points,1 month ago
Good move to submit the proposal on the beginning of the new cycle @Cryptolifex.
I'd like to see this proposal passing especially that it gives a real, licensed access for VZ to get Dash.
@Alejandro @Eugenia, DashVenezuela & DashMerchants do you guys confirm the above?
Wish you luck!
Reply
-9 points,1 month ago
Hello splawik21 a warm greeting.
Thank you very much for your support and good wishes.
Reply