Proposal “DASHKuvaCashProject“ (Active)Back

Title:DASH Kuva Project - Launching Dash in Zimbabwe
Owner:kuvateam
Monthly amount: 565 DASH (171897 USD)
Completed payments: 1 totaling in 565 DASH (2 month remaining)
Payment start/end: 2017-09-18 / 2017-12-17 (added on 2017-09-20)
Votes: 882 Yes / 331 No / 43 Abstain
Will be funded: Yes
Manually vote on this proposal (DashCore - Tools - Debugconsole):
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Proposal description

Kuvacash - Making Money Better

KUVACASH INTERIM UPDATE 001 - 13/10/2017

Thank you to all our supporters in the community continuing to support our proposal for this month. It has been a busy kick-off here at Kuvacash, and we will be updating everyone on our next webinar, which we'll schedule before the end of the month. Two weeks passes very quickly!
James has flown in to Harare, Zimbabwe from Sydney, Australia. Earlier this month we submitted our business registration for Kuvacash in Harare, this is progressing without any problems so far.  James is looking to obtain ECORMORS integration documentation, along with performing some other administration on the ground that allow us to start the process for registration as an ADLA in Zimbabwe (see proposal for summary). We also have the following tasks in progress which are a part of ramping up implementation

  • Kuvacash final iconography and brand style guide
  • Kuvacash website to replace the holding page currently at www.kuvacash.com
  • Wireframes and prototype UX for Kuvacash wallet and agent application
  • Business legal structure and jurisdiction for the topco and opco (IP holding/licensing and Operating companies)
  • Engagement and kick-off planning with suppliers and technical/development partners and staff
In summary, all going to plan so far and a lot for us to get on with, but as above we'll provide a more detailed update towards end of the month in the webinar.

Thanks again for your time and support!

Team Kuva,
Drako - James - Steve

KUVACASH TEAM WEBINAR 001 

The Kuvacash team presented the detailed proposal plan and took questions on our business plan summary.



*******

Pre-proposal and preliminary discussions here - 
https://www.dash.org/forum/threads/pre-proposal-dash-kuva-project-launching-dash-in-zimbabwe.16704

I would like to sincerely thank everyone for the feedback provided on the pre-proposal. We will now be answering further questions on the full proposal here on Dashcentral

Interview with Tao here, with some questions from the community answered:



Introduction and Proposal Owner

Thank you for considering this proposal, let me introduce myself and my team.

I am Andreiko ('Drako') Kerdemelidis and have been involved with crypto for over 5 years now starting with Bitcoin, but more recently I have been involved with Dash (since Darkcoin days). I feel that the Dash DAO is unique in the world of cryptocurrencies and aim to help to bring the benefits of Dash to as many people as possible.To this end, me and my colleagues James Saruchera and Steve August (Bio's below) have been working on developing a service to launch Dash in Zimbabwe, where there is presently a cash crisis and a current demand for alternative means to store value and make payments. This service will be called "Kuvacash".

We feel that the time is right to launch this service; Dash is the only cryptocurrency that can be used to make day-to-day instant payments for individuals and businesses and we have a team that can make this happen. By providing the right infrastructure and an easy-to-use app/wallet locally in Harare and wider Zimbabwe, it is possible to land Dash as a true alternative to physical fiat payments.

Our bio's are below, together with links to our Linkedin profiles.

Summary and Goal

This project proposes to launch a Dash-based cryptocurrency service in Zimbabwe, to allow individuals and businesses an easier way to trade while addressing the current cash crisis. Following this, we intend to expand Kuvacash to the wider African continent as an inexpensive and convenient digital-cash service for day-to-day trading and payments.

Background

The current cash crisis in Zimbabwe has proven to be difficult to resolve. Ballooning inflation has led to a collapse of the national currency, forcing the government to issue USD tethered bonds as a stopgap measureAlthough the formal economy is worth $4 Billion USD, there is $7 Billion USD in cash currently circulating in the informal economy. Currently, relatively expensive centralised mobile payments comprise more than 82% of all transactions in Zimbabwe. The remainder of trade and payments are made in cash (USD). Because the cash circulates without being replaced, it drives a lucrative trade in providing fresh/cleaned banknotes for a premium of between 10-20%.

https://www.thezimbabwean.co/2017/05/root-causes-fiscal-monetary-crisis-zimbabwe/ 
https://www.newsday.co.zw/2017/06/20/cash-crisis-continue/ 
https://www.dailynews.co.zw/articles/2017/04/21/cash-crisis-a-nightmare-zimra 
https://www.newzimbabwe.com/news-38130-Cash+crisis+continues+to+cripple+Zimbabwe/news.aspx

For a more extreme example see here: www.ewn.co.za/2017/04/18/zimbabwe-marks-37-years-of-independence

We believe Dash is the perfect alternative for making payments in Zimbabwe.

Kuvacash aims to provide a digital payments platform (Dash to Dash) and facilitates payments both in and out of USD fiat (Dash to Cash). It will be extremely popular with the Zimbabwe public and local businesses, as the USD is considered to be the de-facto currency for non-mobile payments and is widely trusted.
The people of Zimbabwe have seen their savings dwindle during several cycles of ultra-inflation, and will benefit hugely by the security in owning a cryptocurrency that is tradable internationally, with trust-less issuance and supply rules. Dash is also the only cryptocurrency that allows instant transactions, which is necessary for rapid day-to-day trading.

To facilitate mainstream adoption, we will provide both ATM Services and a network of Service Agents to securely facilitate transactions in and out of Dash and into USD. We will demonstrate this model in the proposal webinar (date TBD following full proposal posting).

Kuvacash Team

The team leading this project has experience in software development and technical operations, trade development, regulated currency exchanges and international payments solutions, consumer insight, branding, and business strategy.

James Saruchera – Managing Director

A creative change expert with more than 10 years’ experience in marketing and digital transformation. James is a National Arts Merit Award nominee and holder of two patents with hands-on experience across three continents building world-class challenger brands from the ground up in extremely competitive sectors. He uses the benefits of technology to compete with larger competitors and has developed brands such as: Diageo, Budweiser, 3M, Topshop, Accenture and more.

Andreiko Kerdemelidis – Finance and Technology Director

Andreiko (Drako) is a New Zealand-born digital entrepreneur who connects insight, technology and business strategy to build optimal brand, product and service experiences for people.Drako has built B2B currency exchanges (www.currencycart.com, www.regentfx.com), online consumer insight businesses (www.visionslive.com, www.teragence.com ) which service top-tier insight brands (GfK, IPSOS, YouGov, Havas). Drako holds a number of patents for which he is principal inventor, including advanced haptics, computer security and peer-to-peer network technology. He has expertise in, and is actively developing strategies and technologies for major blockchain-based cryptocurrencies, with a focus on the field of instant payments, exchange propositions, and smart contracts.

His work spans across several industries such as Banking and Finance (Royal Bank of Scotland Group, Currencycart.com/Regent Foreign Exchange), Telecommunications (Teragence Ltd) and Consumer Insight (Visionslive Ltd).

Steve August – Executive Advisory

Steve is a serial entrepreneur, creative technologist and founders’ coach.  From 2006 until 2014, he was Founder and CEO of Revelation, a market research software company that he took from idea stage to a multi-million dollar exit.  He has taken a lap around the C-Suite and boardrooms in private equity backed companies, serving as CEO, CMO and Chief Innovation Officer.  Over the course of is career his companies have served a myriad of world class clients including Facebook, Twitter, Proctor & Gamble, Pfizer, Phillips and many others.

The consistent thread throughout his career has been a fascination with the creative application of technology. You can find his writings on Medium and LinkedIn.

LinkedIn Bios are included below:

www.linkedin.com/in/onlineresearch (Andreiko)
www.linkedin.com/in/jimmy-saruchera-7590912 (James)
www.linkedin.com/in/steve-august (Steve)

Project Details

This project will be implemented across several stages to minimise risks to the funding derived from the network and other investment partners. The summary plan and overall model, including financing for the project will be covered in the webinar (see introduction).

Regulatory environment

Zimbabwe has strict financial regulation in place for all forms of currency services, including mobile payments and money transmission. The key to the success of Kuvacash is to align with these regulations. We are engaged with the regulator to operate as an Authorised Dealer with Limited Authority (ADLA) for the purpose of making money remittances on a peer-to-peer basis, including fiat (USD) cash-out.
The operating business itself will be 100% owned by James Saruchera, as only Zimbabwean residents may be shareholders of an ADLA-regulated business. It is necessary to implement a connection to ‘Exchange Control’s Remittance Monitoring and Reporting System’ (ECOMORS) for compliance. Collateral must be posted with the Reserve Bank of Zimbabwe of between $50,000.00 USD (Tier 1, early phase) and $100,000.00 USD (Tier 2, full launch) in order to commence operations.

Business Structure

A holding company based in Delaware, United States, will hold and license intellectual property. A Swiss-based operations company will run technical and exchange operations and license this accordingly to the Kuvacash-regulated entity based in Zimbabwe. The IP holding and licensing company providing technical services will be 100% owned by both James and Andreiko together with additional investors that may be brought on board. This provisional business structure and jurisdiction is subject to more detailed legal advice and ongoing discussions with the regulator.

Technology

To allow for rapid adoption and ease of use for the Zimbabwean market, we will develop a cryptocurrency wallet (based on Copay wallet for Android) that allows peer-to-peer transfers using cryptocurrency network methodologies. We will also provide for payments to be made directly via phone-number-based messaging. It will allow Dash to be bought with cash, and cash to be booked and withdrawn from our ATM infrastructure - a critical factor to drive adoption of the cryptocurrency in the market. Our app will allow users to invite others to download the App and get paid as part of our member-get-member strategy.
We have been in discussions with a major ATM supplier and identified cash-in-transit and storage suppliers. We have developed a cash replenishment model, including an automated cryptocurrency exchange float management method.  

Smartphone penetration

Currently, most people in Zimbabwe (94.8%[1]) have a mobile phone, 43% of which are smartphones[2]. Internet penetration is at 40%. An increasing number of users are able to use Apps in order to make payments if such a service was available. As a part of this proposal we are developing an application (App) based on a customised build of a ‘Copay’ driven Android Dash wallet to allow for simple phone-number based currency transactions, similar to what the local market is accustomed to.

Marketing and local adoption

The executive team has deep experience across finance, consumer insight, analytics and marketing. We have already implemented in-field insight in Harare, covering both agents and customers. This insight shows there is affinity with a new and economical mobile-payments system, based on a ‘safe’ cryptocurrency (which is not subject to interference from a third party, and can be used to store and transfer value). The average payment values and frequencies are known, as well as the reasons for making mobile payments. This allows a suitable proposition and brand to be developed for the local market. A unique member-get-member strategy has also been developed, which we believe can drive very rapid adoption while allowing us to control and manage growth.

Financing

A combination of network funding through this proposal and private investment is used to implement the initial stages of this project, including developing the regulated entity, setting up business structure, and completing the MVP technical development.
The founders will bring a minimum of $50,000.00 USD investment into the project to demonstrate their commitment, but have also engaged other investors to raise further funds (potentially up to $200,000.00 USD). We are seeking network investment of $550,000.00 USD which includes 10% exchange rate/volatility cover.

It is important for us to have flexibility in the application of funds, as this is an ambitious project for which there may be several unforeseen risks. For this reason, network funding is critical, since institutional private investment for such a project is very difficult to obtain. Although there may be further network funding and potentially private investment to cover additional or unforeseen costs, we are aiming to become cash-flow-positive as soon as is possible. We will look towards applying this and additional investment for further expansion in the African continental region across our Scaling Phase.

Stage Planning

To adequately control risks and track milestones, a 5-point stage plan has been developed spanning;
  1. Initial development of the business structure, legal framework and regulatory operating environment (USD 30K)
  2. Software and technical operations development phase (USD 300K)
  3. Operations implementation and controlled launch (USD 220K)
  4. Full launch and initial local scaling (TBD)
  5. Scaling phase (local expansion and planning/pilot of new territories/countries)

Progress summaries will be sent to a public email list on a monthly basis, and full transparency of costs provided.

Communications

We believe in transparency. Given the nature of the Kuvacash project this is key to maintaining ongoing support from the network and wider stakeholders. Prior to the full proposal passing, we will hold a web conference for interested parties and will endeavour to answer any questions you may have.
We will hold a quarterly briefing via web conference that anyone can request to join, and other briefings at stage-gate milestones. We will also maintain a subscriber mailing list and blog to cover the progress of our project at https://www.kuvacash.com 

Benefits to the Dash DAO and network

If Kuvacash can bring mainstream local adoption of Dash cryptocurrency to the Zimbabwean economy, this would be a world first and would bring considerable media coverage and interest to the cryptocurrency. Dash would see its footprint widened in terms of users, and increase its circulation and transaction volumes. Future phases of the project involve expanding into adjacent countries that have similar cash/liquidity issues (Zambia, Botswana), further increasing adoption.
Although we are asking the network to fund a large proportion of this project, Kuvacash must eventually be profitable and self-sustaining to be viable in the long term and therefore yield real value to the Dash network. This funding will allow for growth in the region (employing local agents, back-office staff, developers etc) and eventually transition to operating as a cash-flow positive business.

Our Vision

Our current focus is on providing a rigorous approach and solution to the Zimbabwean cash crisis; we aim to build a highly scalable peer-to-peer payments system that provides opportunity for unbanked/underbanked populations to more easily participate in the economy, as both consumers and entrepreneurs. We feel that this is a unique opportunity to use our skills and the Dash platform to give users an alternative way to pay and get paid in cryptocurrency, while retaining confidence that they can on and off-ramp from USD fiat at any time.
When appropriate, we will also introduce merchant services that address the needs of the local market, and aim to generate additional revenue from this that ultimately results in a self-sustaining business.

We want to prove that a Dash-based cryptocurrency-backed peer-to-peer payments platform can be established, to learn from the experience and use this as a launch pad into as much of the African continent as possible.

Funding Schedule

550K USD = 1692 Dash @325 USD/Dash + 5 Dash proposal fee
TOTAL 1697 Dash (565.67 * 3)
Treasury payments over 3 months (rounded down);
Month 1 : 565 Dash
Month 2 : 565 Dash
Month 3 : 565 Dash
------------------------------------------------

We aim to answer all your questions below, so please let us know what you think!

Thank you for your time and we hope you will help us to move forward with this exciting project!

Team Kuva,

Drako - James - Steve
________________________________________

For anyone who would like more details, we are arranging a webinar to bring everyone together from the team and to describe the project.

The date for the first live webinar is 23rd September at 3.30pm Eastern US time, see the top of this proposal posting for details. You can also subscribe to updates over email on our holding page at www.kuvacash.com

[1] www.technomag.co.zw/2017/03/08/mobile-penetration-94-8percent-2016/
[2] www.technomag.co.zw/2014/07/16/zimbabwe-mobile-penetration-full-report-now-at-106-4/ 

Show full description ...

Discussion: Should we fund this proposal?

Submit comment
 
0 points,1 day ago
voting yes. IMO, countries struggling to maintain a stable currency is the first place Dash will see widespread adoption. The need is greatest there.
Reply
2 points,16 days ago
****ANNOUNCEMENT****
I'd like to extend a thank you to all our 'Yes' supporters, and to those that voted 'No' or 'Abstain', thank you also for taking the time to consider our proposal, we will try and do all that we can win your votes for next time. Please continue to check this proposal for updates.

We have set up a temporary page at www.kuvacash.com which allows anyone who is interested to join our mailing list for updates on the project - it is a holding page for now, but we will update it soon. The team will also be posting updates here as well.

It will be a couple of days before the superblock hits, but we are kicking off project implementation activities on Monday 2nd Oct. We do have a full team on this project, but please message Max Yoga or the team on Dash Nation Slack #kuvateam channel if you do wish to contribute, or wish to make any suggestions/comments.

Thank you,
Team Kuvacash
Drako - James - Steve
*****
Reply
1 point,16 days ago
Thanks for putting this proposal together! I'm glad to see this is going to pass.
Reply
1 point,16 days ago
Thanks for the support HinnomTX, watch this space it's going to be interesting!
Reply
4 points,19 days ago
Got my votes, just needs 7 more now hopefully this proposal should still pass with 3 days remaining.
Reply
4 points,19 days ago
Hi Anaedv, thanks for supporting us, much appreciated!
Reply
1 point,19 days ago
Well done guys! Back over the line again
Reply
-2 points,18 days ago
I can guess why the whales are voting no - Zimbabwe lacks the infrastructure to fully utilize the benefits of cryptocurrency, whereas first world countries have the full ability to use crypto as its heart contents with everyone carrying around their smartphone wallets or their hardware wallets on their keychain, how exactly do you plan to give them the concept of a currency that doesnt physically exist in their hands and only digitally exists for those who have access to electricity?

U.S. and basically any first world country: 100% electricity coverage

Zimbabwe: 29.9% coverage

https://data.worldbank.org/indicator/EG.ELC.ACCS.ZS

This doesn't sound feasible, productive into a bigger goal, nor does it sound like a move in the right direction unless you're just trying to influence newsletters into writing good news about Dash and manipulating the cryptocurrency market to Dash's favor.
Reply
4 points,18 days ago
Hi Yaksha, thanks for the comments. I would also like to know why two whales hit this proposal hard, but we've received no comments or opportunity to respond before the votes actually hit. I appreciate what you say here, but we do feel that the actions of two large whales against a proposal in which it appears the rest of the community wants to move forward with, is likely to be more about a conflict of interest rather than viability of this project. Let me also address the points you make above in detail;

1. As per our webinar presentation, despite the apparent electricity situation, over 82% of all transactions are made using e-money on mobile phones in Zimbabwe. This indicates that a majority of the residents of Zimbabwe are very comfortable with a digital currency, using it regularly in their daily lives.

2. The world bank reference you quote is from 1990, many things have changed in 28 years! They also didn't even have a concept of a smartphone in 1990 let alone digital currency. Electricity is less available in rural areas, but in Harare where we center our initial project phases), but this doesn't appear to affect the affinity of the locals in making digital payments (nor did they talk about it in our insight).

3. We have done our research on the ground, Ryan Taylor has confirmed he has seen some of this work which we consider our critical IP (digital payment amounts, frequency of payment, use of payments, fees etc). We KNOW there is an opportunity to land Dash precisely because we have been there and spoken to real people (digital money agents and customers). There is a cash crisis, and we can fix it with Dash and the services we offer for on and off-ramp to USD.

I hope you can see our position here, that we have a huge opportunity to really make a difference on the ground in Zimbabwe with Dash, following this we expand into the wider African continent. I hope you will still consider supporting our proposal!

Thanks,
Drako
Reply
0 points,19 days ago
Good work , wait moroccan dash team are coming in dash school in arabic . Good luck
Reply
9 points,20 days ago
******UPDATE******
The Kuvacash proposal passed by 49 votes last night, but then it seems a single mini-whale has pushed us down again. There were no additional comments or reasons posted prior to this vote.

For such a large negative vote count to be posted by a single individual, when there is a clear majority that is currently in support of the proposal, we would like to at least have an opportunity to respond and understand what the issue was. In any case, we still have 4 voting days to go, and we are still looking for feedback, please post up and we can address your concerns.

To those who supported our proposal - please let your contacts know to support Kuvacash as well, so we can get this over the line!
*******************
Reply
7 points,20 days ago
Wow that is frustrating. I don't know why a whale would vote against the wishes of the community on such a thorough and important proposal.
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8 points,20 days ago
Just to add a little more push. I spent a couple hours running down their Linkedin profiles along with all the companies and projects mentioned there. The executive summary is...they are who they say they are, and they have the skills they say they have. (Nice clocks by the way!)

I understand the risks that go along with a large and complex proposal like this. I am willing to take that risk because the team has a backup plan (move to a different African country) and because the payoff to the Dash ecosystem if they are successful is enormous.

solarguy on the forums
Reply
1 point,19 days ago
Hi solarguy, thanks for the support, and yeah Steve's clocks are very cool! I appreciate you having taken the time to look at our proposal in depth. Please continue to spread the word, we do have a few more days to go and want to make sure it's locked in!
Reply
6 points,21 days ago
I appreciate the webinar and the taking of questions! Video enabling real interaction with the real faces behind these proposals -- there are a lot of new people whose reputations I just don't know -- really helps me to vote better. Thanks, voting yes, and looking forward to seeing your work.
Reply
3 points,20 days ago
Hi n00bkid thanks for watching the webinar and giving us your vote! We're looking forward to hitting the ground with this!
Reply
1 point,21 days ago
I have seen the webinar,

I have suggestions

If the proposal succeeds,you should include the phrase:

Powered by Dash.org
or
Powered by Dash.org Tecnology

And I personally would like to see photos.

Thank you for your proposal
Reply
1 point,21 days ago
Hi BCT, What I heard from the team is that the users will always know they are using Dash, whether this is with a 'powered by dash technology' phrase or just viewing their dash balance direct on their device.

What the users will find truly useful is having guaranteed access to clean US dollar bills whenever they want.

Just curious, are you still voting 'no' or have you changed your views on the project following the Kuva Team's webinar and replies which addressed all your previous questions?
Reply
6 points,23 days ago
I highly recommend everyone to check out the webinar that the Kuvacash team held just right now in order to get a better explanation of the project and hear all the answers to the questions of some of the community members had to ask, including myself.

This is the link: https://www.youtube.com/watch?v=DI0wZJcqXAE


I believe this proposal should pass.
Reply
2 points,22 days ago
Thanks for the support ichigo13 and for watching the webinar, much appreciated!
Reply
4 points,23 days ago
+1
Reply
5 points,23 days ago
*****NOTE******
Our webinar will be starting at 3.30pm EST today - we'll be presenting the detailed plan as well as taking questions from the community. Please join us, hope to see you there:

Webinar time and date: Saturday 23rd September at 3.30pm Eastern Time (US)
Webinar link: https://www.youtube.com/watch?v=DI0wZJcqXAE

***********
Reply
0 points,23 days ago
Looking forward to it
Reply
6 points,24 days ago
Come on guys, there are real people in a desperate need of a working currency and you bicker about which logotype is the best for Dash. First world problems, I say. What Nakamoto would have done? Save the world from the ills of Fiat!
Reply
2 points,23 days ago
Thanks for the support flyingwalrus! Hope to see you in the webinar shortly!
Reply
10 points,25 days ago
I vote yes, for 3 reasons:

1. Helping the unbanked is one of my primary motivations for being involved in Dash. And Zimbabwe is the poster child for terrible local fiat and limited and predatory banking for regular folks.

2. This team looks very capable, and I have not seen a better proposal for boots on the ground, get it done in real life...kind of proposal. If we say no to this proposal, how long will it be before we get a better/stronger proposal to fix Zimbabwe?

3. Ryan likes it, and he comes from a strong background of the payment industry.

In the event the proposal does not pass, I would strongly encourage Kuvateam to participate more in the DashNation Slack Channel and the Dash.org forums. The likelihood of having your proposal pass is much greater once you are a well known and trusted member of the community.

Even better if you think of a smaller project (that would still further your Zimbabwe plans) and accomplish that first. Once we see actual results, with actual on time reports, the community will very likely warm up to you more.

You have to remember, we have been burned before by people who "staked their reputation" on their proposal and never followed through.

Trust, but verify...

solarguy on the forums
Reply
3 points,25 days ago
Hi Solarguy, thanks for the support and votes, very much appreciated. I realise there have been bad actors on proposals, and that also frustrates me because we're getting bucketed in with them as well. I'm not on the forums a lot but do work behind the scenes with Ryan and co. Happy to answer any PM's on Slack (@Maxyoga). We do aim to warm everyone up in month 1 of this project as well!
Reply
2 points,25 days ago
Hi everyone, we are losing visibility of our budget proposal on the main budget listing page due to misuse of downvotes on that page. If you are interested in this proposal and are voting yes, no, or otherwise, could we ask that you also give us an upvote on the listing page to maintain visibility and prevent the censoring of our proposal using the DC downvote/spam tools.
Reply
2 points,25 days ago
To clarify, the main page above is at https://www.dashcentral.org/budget , please help to keep us visible and prevent censorship of this proposal by upvoting on that page.
(NOTE: Lemonysnicket is my personal account, Kuvateam is our team account)
Reply
6 points,26 days ago
Hi Everyone - thanks for the support so far!

For those on the fence about this, please may I ask that you attend our webinar (link to be posted tomorrow/Friday depending on what timezone you are in). In the webinar, we present a full business and operations plan walk-through, and you have time to meet our executive team. Yes, No and Abstain voters are all welcome!

A further note - we have been working on this proposal and the underlying model for over 6 months now, including being on the ground in Harare, Zimbabwe, selecting partners for implementation and planning a viable business model. We are trying to build a solution it that is fair for users and will really make a difference to people in Zimbabwe. At the same time we have a larger vision; we want to be able to use the platform and experience to launch to other territories on the continent. All funds will be applied to this aim.

I realise and have had contact with some people believe this to conflict with their own business initiatives. We are looking for collaboration for many aspects of this project, for example, education and marketing programs. All this joint work is necessary if we are to launch and gain legitimacy in a country like Zimbabwe.

None of us at Kuvacash are in it 'just for the money'. If we manage to do our work well, we will have brought Dash to end users in a way that practically works for them and relieves a lot of pain while simultaneously adding value to the Dash network by expanding the ecosystem and driving real-world user adoption. If we do this, we have landed a use case for crypto that will make history! Anyway, thanks for reading and considering our proposal, and we look forward to presenting further details at the webinar.

Team Kuva,
Drako, James, Steve
Reply
9 points,25 days ago
FYI. Dash Core Team CEO Ryan Taylor (babygiraffe) was taking questions today and just posted his support for the Kuvacash project in the Dash Nation Slack.

"babygiraffe - Personally, I think that the proposal is one of the most thoroughly researched projects I’ve ever seen on Zimbabwe. I frequently reference Zim as the perfect place to start in Africa, but it is a hard nut to crack. I think they really have a strong grasp of the problem and a value prop that resonates with the locals. That said, there is no guarantee it will work. But I would rather take one decent shot at Zimbabwe than fund 10 more YouTube channels. That has a real shot at adoption if you know 50% of the pain that is happening in the country due to a broken currency.

People there care about clean cash, and if they deliver the ability to get clean cash at any time, people will feel more comfortable leaving it in Dash. The competition is charging outrageous fees for digital payments. I certainly don’t know of another team preparing to take a shot at Zimbabwe, let alone one with a better plan than they’ve created. They’ve been working on it for about 5 months.

He didn’t share his research because he considers the findings and insights gold. I got a preview of them (videos and interviews with regular people on the street) and it really could gain traction there the way they plan to execute it. That all said, this is an extremely risky undertaking. Chances are decent it could fail. But if that team is successful, we can take that general blueprint and repeat it in other chaotic markets (with modification to the exact situation of course).

So it is potentially world changing… I don’t think you can put a price on that."
Reply
0 points,25 days ago
I THINK we do have the expertise...
It SEEMS expensive?

I would start small with only 1 feature, you must be able bypass some regulations and startup costs.

If that works then grow to all milestones you want.

In your own words the foggy parts make it too risky to start this size all from scratch.
Reply
3 points,25 days ago
Hi paulkuit, sometimes I don't use quite the right wording :) agreed..
Please check out our Linkedin - myself and the exec team DEFINITELY have the expertise to deliver this, and we are transparent about the risks, perhaps there is a better way to say that.
I am also trying to empathise that this is a large and seemingly 'expensive' proposal, but to build the team and hit the ground running, we need the resource commitment, we can't have delays/risk to funding or risk losing our own reputation with our partners. In other words, the nature of this project means we would not be getting the commitment from those who we need to be involved, without at least the first month of funding (our investors, development partners, people on the ground). To this effect we have split the project across three funding phases, as a compromise to allow the network to have time to see how we operate and decide if they wish to fund further months. We will not disappoint!
Please may I ask that you attend the webinar (we will post link today), this will demonstrate how much effort we have already put into the project to de-risk our proposal, and we will show the stage plan, milestones as well as the summary financials. Ryan Taylor, who I personally work with on Dash strategy and knows our approach and commitment is highly supportive of this project, in that it fits with the longer term strategy for Dash Core. I hope you will consider supporting us also.
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1 point,25 days ago
Okay let's do this!
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0 points,25 days ago
Thanks paul, we're looking forward to it!
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6 points,26 days ago
A well planned use case for Dash offering a legitimate solution for Zimbabwe. Absolutely yes.
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2 points,26 days ago
Thanks for the support foxtrot! Let me know if there is anything else you want to know and hope you come to watch the webinar as well!
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3 points,26 days ago
This proposal has a huge potential once it comes to create an indexation of Zimbabwe dollars to US dollars and Dash, Zimbabwe and Brazil are the 2 perfect examples of currency manipulation by the government and central banks. Brazil in 15 years Head over 1,000,000,000,000% inflation ( Trillion ) and the government changed the name of the Money 6 times with fewer zeros and new bills. If you are willing to make this project work, it will be a worldwide example and a success of Dash.
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2 points,26 days ago
Thanks Rambrissi, definitely what we're trying to achieve here, the situation in Zimbabwe means there is a lot of affinity for this solution. Please do come to our webinar and we'll show you the project in detail, and answer any questions.
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1 point,26 days ago
Sorry FYI Lemony is my personal account on DC, but Kuva has a team acct also.
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1 point,26 days ago
Thanks for the support Rambrissi, much appreciate the support! Please come and see more project details on our webinar on Saturday, we'll post up the link here shortly.
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2 points,26 days ago
This proposal has a huge potential once it comes to create an indexation of Zimbabwe dollars to US dollars and Dash, Zimbabwe and Brazil are the 2 perfect examples of currency manipulation by the government and central banks. Brazil in 15 years Head over 1,000,000,000,000% inflation ( Trillion ) and the goverment changeed the name of the Money 6 times with less zeros and new bills. If you are willing to make this project wotk, it will be a world wide example and a success of Dash.
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0 points,26 days ago
I really like the idea of expanding into Zimbabwe, and I think you guys could be the ones to do it, but you are asking for a lot of money up front and unlike other large proposals (like the alt36 proposal) you don't have a existing business identity or (like the core proposals) a long time community involvement. I would love to see you guys submit a more modest proposal for a smaller project, whether it is a localization of existing software or a new project. I think if you keep trying, especially with a more restrained goal you will have a proposal pass but I can't in good conscience sign off on more than half a million dollars to relative unknowns.
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1 point,26 days ago
Hi plateglassarmour, I appreciate the comment, and I understand your perspective here. We do however have a lot of experience in payments and tech and a comprehensive execution plan for Kuvacash. I have also been involved a long time in Dash (since Darkcoin days), as an investor and more recently working with Core management on strategy and propositions.
This is the project that all of us at Kuvacash are in a position to execute on, and which fits our expertise the best. I hope you can take a look at our team profile and attend the webinar. We are not asking for all the funds up front, we want to start the project while demonstrating our professionalism and approach over this coming month and I believe we will be able to win your confidence that we'll indeed deliver on this project.
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0 points,23 days ago
After watching your webinar, and seeing your willingness to answer questions, I have decided to change my decision to yes.
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0 points,19 days ago
Thanks a lot for doing this, very much appreciated, we're over the line now and we won't disappoint!
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2 points,26 days ago
A well thought out project from a team that will push Dash forward like the trailblazing startup it is. A definite yes
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1 point,26 days ago
Thanks for the support Triptolemoose!
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3 points,27 days ago
The cut&paste on the Proposal Description field has gone a bit bad. It affects readability, I think you should spend 10 minutes fixing it. Otherwise, as far as I have watched the pre-proposal and Tao's interview about the project, I think this is (despite the fairly high amount of Dash involved) an important project.

I might go as far as to say that it is the best shot we have to really have a breakthrough in the African market. Millions of users with mobile phones, potentially.

I'll vote a definite YES.
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2 points,27 days ago
Hi flyingwalrus,
You are quick off the mark! I thought by editing this at 3am we'd get it right for formatting etc...in any case thank you very much for the support and bear with my while we format the proposal correctly!
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1 point,27 days ago
walruses never sleep, you know...
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1 point,26 days ago
Ok formatting should be fixed! Heading off to get some sleep, being human and all. Thanks again!
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-2 points,26 days ago
As I said in the pre-proposal I think that this project for a few reasons that we go back to review, will not have a minimum success.

And I add:
While in Africa there is a lot of smartphone, Africa 'is different' and to start projects have to pay corrupt officials.
The first thing to do in Africa and will have ALL my support is to teach its citizens in cryptocurrencies and its advantages.

The budget that you expose of 500,000 thousand + - we do not know that they are going to finance I do not see a business plan, and many deficiencies.

I do not see any ROI for Dash, and I have my doubts about the legitimacy of the project.

What I see is a free money financing plan and no return, as I indicated in the pre-proposal I will vote for no, I'm sorry.

And discuss everything you want.

the basic reasons:

1) I think it is a lot of money, without having guarantees to carry out the project to good purpose, and more in an African country.

1.1) Invent the wheel, making an app based on Copay when DashPay is in the final phase, I consider throwing money and resources.

2) In Africa, legal security (corruption) in such businesses, which directly attack banking, does not exist.

3) There is already a precedent called Bitpesa in Africa since 2013, operating in 3 countries and using the Bitcoin network with BlockCypher but could switch to the Dash network using BlockCypher.

3.1 Bitpesa, has had and has problems with local governments, because of its disruptive model of neogocio and as a company is not yet profitable (4 years).
(Corruption in institutions that is the usual current)
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2 points,26 days ago
Hi blockchaintech,
Thanks for the comment, I believe I did address the same questions you posted in the pre-proposal, so I'll also copy these below.

With regards to the business plan and full financials, these are complete and we will present these on the webinar. We are also going for 183K USD for this month, the total funding is over 3 months in total, 550K USD that allows us to demonstrate both traction on the project and the professionalism of our approach.

We intend to take a completely above-board approach, without questions we'll never be paying 'corrupt officials', it is a trap from which we would never emerge, questions our integrity and thus we never intend to take.

I feel our approach can work with to what you believe is also necessary - we intend to create a useful product and put this into the hands of Zimbabwean people, and directly make it match market demand from a trust and customer experience standpoint. These are complementary activities, not competing ones.

We have a very experienced team with the commitment to do all we can to deliver this, please check our Linkedin profiles - our reputations are visible and on the line. If you have not already voted please do consider the above points and what we discussed on the pre-proposal (to which you have not responded).

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KUVACASH: Hi blockchaintech,
I appreciate your comments, but I feel you may be confused on what we are building - let me try to clarify a bit, but one point at a time!

blockchaintech said: ↑
1) I think it is a lot of money, without having guarantees to carry out the project to good purpose, and more in an African country.

1.1) Invent the wheel, making an app based on Copay when DashPay is in the final phase, I consider throwing money and resources.
KUVACASH: The Kuvacash project is not the same as Dashpay or Copay. We are in fact built on top of Copay software (using the good work that Chuck and his wallet team have been doing), together with an ATM service network to allow cash-out that is regulated as an ADLA in Zimbabwe. In this way, we can operate legally and bring Dash to as many people in Zimbabwe as possible - I do feel it is a good use of resources to do have people able to use Dash, at reasonable fees and with proper customer support and will help the situation a lot. It is really the only way that our team can get Dash into the hands of the public in a useful way.

blockchaintech said: ↑
2) In Africa, legal security in such businesses, which directly attack banking, does not exist.
KUVACASH: Not sure what you mean here? We have costs from security and safety deposit companies that do directly provide the services we require to operate. They also service other companies that manage cash, such as banks, supermarkets, gas stations etc...

blockchaintech said: ↑
3) There is already a precedent called Bitpesa in Africa since 2013, operating in 3 countries and using the Bitcoin network with Blockchyper but could switch to the Dash network using Blockchyper, already have infrastructure,
(I think we should work on this subject with Bitpesa)
KUVACASH Bitpesa is not in Zimbabwe (it only services Nigeria, Kenya, Tanzania and Uganda, and they seem not interested in Zimbabwe) and (partially) uses Bitcoin for remittances not Dash. We are interested in bringing the Dash platform to the African market, starting with where the problem is most acute. We also know we can improve the customer experience and cost structure of mobile payments for Africa with Kuvacash.

blockchaintech said: ↑
3.1 Bitpesa, has had and has problems with local governments, because of its disruptive model of neogocio and as a company is not yet profitable (4 years).
KUVACASH: We know that we can provide a service as an ADLA in Zimbabwe - we have all the regulatory requirements at hand and the costs involved, which are very reasonable. We also have a cost and growth model that is very different to Bitpesa - we'll be demonstrating this at our webinar, which will come up when we post the full proposal shortly.
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I really do hope you do support our proposal, or at least come to the webinar to take a further look!
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1 point,26 days ago
Sorry price does fluctuate, I should have checked from yesterday! 193K USD, not 183K at the present exchange rate this month.
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