Proposal “DASHKuvaCashProject“ (Completed)Back
| Title: | DASH Kuva Project - Launching Dash in Zimbabwe |
| Owner: | kuvateam |
| Monthly amount: | 565 DASH (17235 USD) |
| Completed payments: | 3 totaling in 1695 DASH (0 month remaining) |
| Payment start/end: | 2017-09-18 / 2017-12-17 (added on 2017-09-20) |
| Votes: | 840 Yes / 337 No / 31 Abstain |
Proposal description
Kuvacash - Making Money Better
KUVACASH NOVEMBER - WEBINAR 003 - 27/11/2017
Thank you to all our supporters for this month. Drako, James and Steve hosted a live webinar to provide a debrief of November activities and answer any questions from the community.
In summary;
1. On-boarding of new business requirements team, detailing back-end specifications for treasury, float management, compliance and reporting
2. Wireframes second pass in progress, for agent and end-user apps
3. Website updated and CMS in place
4. Zimbabwe - soft coup and power transition, what it means for the project
5. No more ATM's! Further developments indicate a strategy of kiosk, master agents and agents will scale and allow for better cost control and security
6. Investment contributions update and Vote Controlled Offering (VCO) announcement for Masternode owners. All MNO's who have voted on the #Kuvacash proposal (Yes, No or Abstain) will be eligible to claim Kuvacash Utility Notes (UN's). This means that all that is required to be eligible to claim your UN's is to have engaged in the proposal process, have voted in any way on the Dash Kuvacash Project across any of the three months and of course to ensure that you don't lose private keys associated with your Masternode votes. Votes must be received before voting closes for this proposal period and we aim to process VCO UN claims Feb/March 2018.
UPDATED, PLEASE READ - Why VCO?
Kuvacash is being set up as a new kind of digital crypto-business through the use of Utility Notes (UN's), where incentives are fairly balanced between MNO's, investors, agents and other stakeholders. We have been working on the exact mechanics of the VCO issuance, and it will involve an air-drop of an ERC-20 token. Utility Notes are not securities, are not used to distribute dividends or shares in any entity related to the Kuvacash project. They are a specific cryptocurrency which will be sourced from an exchange, and used in the network as a staking collateral.
Stream information
Monday 27th November @ 10.30pm PST/1.30pm EST/6.30pm GMT
Please see further proposal details and discussion here:
https://www.dashcentral.org/p/DASHKuvaCashProject
******************
KUVACASH OCTOBER - WEBINAR 002 - 27/10/2017
Thank you to all our supporters for this month. Drako, James and Steve are hosting a live webinar to provide a debrief of October activities and answer any questions from the community.
In summary;
1. Development team ramp-up underway - we have obtained and built Dash Copay wallet sources (kindly provided by Chuck Williams and the IDN team).
2. Wireframe and spec first pass completed, initial reviews of the prototype performed in Harare, incorporating feedback.
3. First pass branding completed, also website IA, final branding TBC
4. Visit to Zimbabwe was successful, including meeting with the Reserve Bank of Zimbabwe, registration of Kuvacash entity in Zimbabwe
5. First employee on the ground to assist with administrative efforts (including obtaining ECORMORS documentation)
6. Pilot site for ATM, premises for main office selected (for ADLA registration)
7. Ongoing work regarding business legal structure/jurisdiction for the topco and opco (IP holding/licensing and Operating companies)
DATE:
Friday 27th October @ 2pm PST/5pm EST/10pm GMT
https://www.youtube.com/watch?v=Fi0j7f8yxT0
Please see further proposal details and discussion here:
https://www.dashcentral.org/p/DASHKuvaCashProject
******************
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
Thanks again for your time and support!
Team Kuva,
Drako - James - Steve
KUVACASH TEAM WEBINAR 001Â
The Kuvacash team presented the detailed proposal plan and took questions on our business plan summary.
*******
Pre-proposal and preliminary discussions here -Â
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/Â
https://www.newsday.co.zw/2017/06/20/cash-crisis-continue/Â
https://www.dailynews.co.zw/articles/2017/04/21/cash-crisis-a-nightmare-zimraÂ
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. Â
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;
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.comÂ
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/Â
KUVACASH NOVEMBER - WEBINAR 003 - 27/11/2017
Thank you to all our supporters for this month. Drako, James and Steve hosted a live webinar to provide a debrief of November activities and answer any questions from the community.
In summary;
1. On-boarding of new business requirements team, detailing back-end specifications for treasury, float management, compliance and reporting
2. Wireframes second pass in progress, for agent and end-user apps
3. Website updated and CMS in place
4. Zimbabwe - soft coup and power transition, what it means for the project
5. No more ATM's! Further developments indicate a strategy of kiosk, master agents and agents will scale and allow for better cost control and security
6. Investment contributions update and Vote Controlled Offering (VCO) announcement for Masternode owners. All MNO's who have voted on the #Kuvacash proposal (Yes, No or Abstain) will be eligible to claim Kuvacash Utility Notes (UN's). This means that all that is required to be eligible to claim your UN's is to have engaged in the proposal process, have voted in any way on the Dash Kuvacash Project across any of the three months and of course to ensure that you don't lose private keys associated with your Masternode votes. Votes must be received before voting closes for this proposal period and we aim to process VCO UN claims Feb/March 2018.
UPDATED, PLEASE READ - Why VCO?
Kuvacash is being set up as a new kind of digital crypto-business through the use of Utility Notes (UN's), where incentives are fairly balanced between MNO's, investors, agents and other stakeholders. We have been working on the exact mechanics of the VCO issuance, and it will involve an air-drop of an ERC-20 token. Utility Notes are not securities, are not used to distribute dividends or shares in any entity related to the Kuvacash project. They are a specific cryptocurrency which will be sourced from an exchange, and used in the network as a staking collateral.
Stream information
Monday 27th November @ 10.30pm PST/1.30pm EST/6.30pm GMT
Please see further proposal details and discussion here:
https://www.dashcentral.org/p/DASHKuvaCashProject
******************
KUVACASH OCTOBER - WEBINAR 002 - 27/10/2017
Thank you to all our supporters for this month. Drako, James and Steve are hosting a live webinar to provide a debrief of October activities and answer any questions from the community.
In summary;
1. Development team ramp-up underway - we have obtained and built Dash Copay wallet sources (kindly provided by Chuck Williams and the IDN team).
2. Wireframe and spec first pass completed, initial reviews of the prototype performed in Harare, incorporating feedback.
3. First pass branding completed, also website IA, final branding TBC
4. Visit to Zimbabwe was successful, including meeting with the Reserve Bank of Zimbabwe, registration of Kuvacash entity in Zimbabwe
5. First employee on the ground to assist with administrative efforts (including obtaining ECORMORS documentation)
6. Pilot site for ATM, premises for main office selected (for ADLA registration)
7. Ongoing work regarding business legal structure/jurisdiction for the topco and opco (IP holding/licensing and Operating companies)
DATE:
Friday 27th October @ 2pm PST/5pm EST/10pm GMT
https://www.youtube.com/watch?v=Fi0j7f8yxT0
Please see further proposal details and discussion here:
https://www.dashcentral.org/p/DASHKuvaCashProject
******************
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
Thanks again for your time and support!
Team Kuva,
Drako - James - Steve
KUVACASH TEAM WEBINAR 001Â
The Kuvacash team presented the detailed proposal plan and took questions on our business plan summary.
*******
Pre-proposal and preliminary discussions here -Â
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/Â
https://www.newsday.co.zw/2017/06/20/cash-crisis-continue/Â
https://www.dailynews.co.zw/articles/2017/04/21/cash-crisis-a-nightmare-zimraÂ
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. Â
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;
- Initial development of the business structure, legal framework and regulatory operating environment (USD 30K)
- Software and technical operations development phase (USD 300K)
- Operations implementation and controlled launch (USD 220K)
- Full launch and initial local scaling (TBD)
- 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.comÂ
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/Â
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Discussion: Should we fund this proposal?
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Vote Controlled Offering - VCO
All MNO's who have voted on the #Kuvacash proposal (Yes, No or Abstain) will be eligible to claim Kuvacash Utility Notes (UN's). This means that all that is required to be eligible to claim your UN's is to have engaged in the proposal process, have voted in any way on the Dash Kuvacash Project across any of the three months and of course to ensure that you don't lose private keys associated with your Masternode votes. Votes must be received before voting closes for this proposal period and we aim to process VCO UN claims Feb/March 2018.
Why VCO?
Kuvacash is being set up as a new kind of digital cryptobusiness through the use of Utility Notes (UN's), where incentives are fairly balanced between MNO's, private investors, principals, agents and other stakeholders. Additionally, the VCO process and Utility Note infrastructure provides a way to distribute revenues and rewards in the business across all stakeholders.
****
Thank you for your continued support!
Drako, James, Steve and all of us at Team Kuvacash
NOTE: Timezone errata correction (2) note that webinar link went live early (AM not PM)
Kuvacash - Making Money Better
KUVACASH NOVEMBER - WEBINAR 003 - 27/11/2017
DATE:
Monday 27th November @ 10.30pm PST/1.30pm EST/6.30pm GMT
https://www.youtube.com/watch?v=a_Swo0xU1Do
Please see further proposal details and discussion here:
https://www.dashcentral.org/p/DASHKuvaCashProject
(posting as proposal owner)
******************
NOTE: Timezone errata correction (2) note that webinar link went live early (AM not PM)
Kuvacash - Making Money Better
KUVACASH NOVEMBER - WEBINAR 003 - 27/11/2017
DATE:
Monday 27th November @ 10.30pm PST/1.30pm EST/6.30pm GMT
https://www.youtube.com/watch?v=a_Swo0xU1Do
Please see further proposal details and discussion here:
https://www.dashcentral.org/p/DASHKuvaCashProject
******************
NOTE: Timezone errata correction
Kuvacash - Making Money Better
KUVACASH NOVEMBER - WEBINAR 003 - 27/11/2017
Thank you to all our supporters for this month. Drako, James and Steve are hosting a live webinar to provide a debrief of November activities and answer any questions from the community.
In summary;
1. On-boarding of new business requirements team, detailing back-end specifications for treasury, float management, compliance and reporting
2. Wireframes second pass in progress, for agent and end-user apps
3. Website updated and CMS in place
4. Zimbabwe - soft coup and power transition, what it means for the project
5. No more ATM's! Further developments indicate a strategy of kiosk, master agents and agents will scale and allow for better cost control and security
6. Investment contributions update and our 'VCO' announcement...
DATE:
Friday 27th November @ 10.30pm PST/1.30pm EST/6.30pm GMT
https://www.youtube.com/watch?v=a_Swo0xU1Do
Please see further proposal details and discussion here:
https://www.dashcentral.org/p/DASHKuvaCashProject
******************
KUVACASH NOVEMBER - WEBINAR 003 - 27/11/2017
Thank you to all our supporters for this month. Drako, James and Steve are hosting a live webinar to provide a debrief of November activities and answer any questions from the community.
In summary;
1. On-boarding of new business requirements team, detailing back-end specifications for treasury, float management, compliance and reporting
2. Wireframes second pass in progress, for agent and end-user apps
3. Website updated and CMS in place
4. Zimbabwe - soft coup and power transition, what it means for the project
5. No more ATM's! Further developments indicate a strategy of kiosk, master agents and agents will scale and allow for better cost control and security
6. Investment contributions update and our 'VCO' announcement...
DATE:
Friday 27th November @ 1.30pm PST/1.30pm EST/10pm GMT
https://www.youtube.com/watch?v=a_Swo0xU1Do
Please see further proposal details and discussion here:
https://www.dashcentral.org/p/DASHKuvaCashProject
******************
Be careful, keep going!
Solarguy
KUVACASH INTERIM UPDATE NOVEMBER
Bloodless transition of power in Zimbabwe - https://en.wikipedia.org/wiki/2017_Zimbabwean_coup_d%27%C3%A9tat
Our project is continuing as normal, activities on the ground in Zimbabwe indicate that there has been a bloodless transition in power ousting Robert Mugabe and installing Emmerson Mnangagwa as interim president, but the situation continues to evolve. We have been reporting updates over our Twitter channel @kuvacash.
Friends and family are safe at this stage and we hope that the situation stabilises in the coming days/weeks. Thank to for all the messages of support, we will continue to press forward on our mission to bring Dash to the Zimbabwean people.
Drako, James, Steve and all of us at Team Kuvacash
****************
KUVACASH OCTOBER - WEBINAR 002
Thank you to all our supporters for this month. Drako, James and Steve are hosting a live webinar to provide a debrief of October activities and answer any questions from the community. In summary;
1. Development team ramp-up underway - we have obtained and built Dash Copay wallet sources (kindly provided by Chuck Williams and the IDN team).
2. Wireframe and spec first pass completed, initial reviews of the prototype performed in Harare, incorporating feedback.
3. First pass branding completed, also website IA, final branding TBC
4. Visit to Zimbabwe was successful, including meeting with the Reserve Bank of Zimbabwe, registration of Kuvacash entity in Zimbabwe
5. First employee on the ground to assist with administrative efforts (including obtaining ECORMORS documentation)
6. Pilot site for ATM, premises for main office selected (for ADLA registration)
7. Ongoing work regarding business legal structure/jurisdiction for the topco and opco (IP holding/licensing and Operating companies)
******************
DATE:
Friday 27th October @ 2pm PST/5pm EST/10pm GMT
https://www.youtube.com/watch?v=Fi0j7f8yxT0
Please see further proposal details and discussion here:
https://www.dashcentral.org/p/DASHKuvaCashProject
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
*****
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.
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
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!
*******************
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
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
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?
This is the link: https://www.youtube.com/watch?v=DI0wZJcqXAE
I believe this proposal should pass.
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
***********
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
(NOTE: Lemonysnicket is my personal account, Kuvateam is our team account)
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
"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."
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.
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.
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.
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.
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!
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)
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).
----------------------------------
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!