Dash Kuvacash updates and activities

Max Yoga

Max Yoga

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Jan 23, 2017
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Hi Dashers,
******WEBINAR AND MIN| UPDATE*********

Kuvacash has officially been granted their ADLA license in Zimbabwe by the Reserve Bank of Zimbabwe (RBZ). This is a mini-update which covers the license grant, and what our next steps will be - please see the embedded video below;


Thanks to the Dash community for the support they have given us over the last 8 months, and to MNO's for voting in our funding and allowing this ambitious project to happen.

If you have not voted on our Base Funding Proposal 002 please do so here:

https://www.dashcentral.org/p/KuvacashBaseFunding002

***************************************************

Thank you!
James, Drako, Steve
 
Max Yoga

Max Yoga

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Jan 23, 2017
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*****NOTE UPDATED TIME - WEBINAR UPDATE JUNE 2018 - 006 | LIVE FROM MONEYCONF DUBLIN****

Hi Dashers,
The Kuvacash team is in Dublin, along with Dash Core reps. We have a lot of updates to share, please join us for a big webinar. We will be streaming direct from our exhibit with Dash Core at Moneyconf in Dublin, connection allowing.

Hope to see you there!

Time and date: Wednesday 13th June at 16:00 GMT/12pm EST/8am PST.
Link:

Thanks,
Drako
 
Last edited:
MrWilliamChui

MrWilliamChui

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Jun 19, 2018
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Max Yoga said:
*****NOTE UPDATED TIME - WEBINAR UPDATE JUNE 2018 - 006 | LIVE FROM MONEYCONF DUBLIN****

Hi Dashers,
The Kuvacash team is in Dublin, along with Dash Core reps. We have a lot of updates to share, please join us for a big webinar. We will be streaming direct from our exhibit with Dash Core at Moneyconf in Dublin, connection allowing.

Hope to see you there!

Time and date: Wednesday 13th June at 16:00 GMT/12pm EST/8am PST.
Link:

Thanks,
Drako
Click to expand...
Would have loved to have been at MoneyConf but circumstances didn't allow this year. Hopefully next...
 
S

solarguy

Active Member
Mar 15, 2017
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I'll give you a few teaser paragraphs to whet your appetite:

So let’s cut straight to the executive summary for the cable car feasibility study:

1. The Cable Car (ropeway) project is a (comparatively) minor effort right now compared to getting the KuvaCash wallet and software launched ASAP. It is not interfering or holding anything back. It was implemented by a German third-party consultant group called Cable Car Services GmbH, who sent staff to Harare to implement the study

2. Dash was never intended to finance the construction, only the 100k Euro feasibility study.

3. There are already serious institutional investors who have approached Kuvacash to invest in this infrastructure project. One of the advantages of Kuvacash using Dash is it ‘secures the payment channel’ allowing institutional investment to be applied.

4. The exclusive use of Dash to pay for transport on the cable cars could realistically add 40–60,000 Dash transactions per day at .50 to .60 (cents) per ride. No other cryptocurrency could accomplish this as well as Dash. Yes, this is contractually spelled out as exclusive to Dash and nothing else.

5. The exclusive use of Dash removes much of the risk associated with such a large public transit project. If the government was significantly involved in either the financing, building, or the money handling day to day, there is far too much risk for graft and corruption. This is the primary reason pension funds and other institutional investors are willing to finance this project.

6. This is perhaps the most important, getting leverage with the government. The local government in Harare and the federal government of Zimbabwe would love to have a beautiful public transit cable car for two reasons. Traffic and pollution in Harare are horrendous, and this would be a real public relations win for the capital city. Because of the private financing, it wouldn’t cost them a penny. But here’s the rub, in order to get this fantastic bonus for Harare, they would have to play ball in terms of allowing Dash to function as a payment system in Zimbabwe. That’s why they’re on board, and it is very likely that KuvaCash will get a public letter of endorsement from the Office of the President.
 
TaoOfSatoshi

TaoOfSatoshi

Grizzled Member
Jul 15, 2014
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solarguy said:
I'll give you a few teaser paragraphs to whet your appetite:

So let’s cut straight to the executive summary for the cable car feasibility study:

1. The Cable Car (ropeway) project is a (comparatively) minor effort right now compared to getting the KuvaCash wallet and software launched ASAP. It is not interfering or holding anything back. It was implemented by a German third-party consultant group called Cable Car Services GmbH, who sent staff to Harare to implement the study

2. Dash was never intended to finance the construction, only the 100k Euro feasibility study.

3. There are already serious institutional investors who have approached Kuvacash to invest in this infrastructure project. One of the advantages of Kuvacash using Dash is it ‘secures the payment channel’ allowing institutional investment to be applied.

4. The exclusive use of Dash to pay for transport on the cable cars could realistically add 40–60,000 Dash transactions per day at .50 to .60 (cents) per ride. No other cryptocurrency could accomplish this as well as Dash. Yes, this is contractually spelled out as exclusive to Dash and nothing else.

5. The exclusive use of Dash removes much of the risk associated with such a large public transit project. If the government was significantly involved in either the financing, building, or the money handling day to day, there is far too much risk for graft and corruption. This is the primary reason pension funds and other institutional investors are willing to finance this project.

6. This is perhaps the most important, getting leverage with the government. The local government in Harare and the federal government of Zimbabwe would love to have a beautiful public transit cable car for two reasons. Traffic and pollution in Harare are horrendous, and this would be a real public relations win for the capital city. Because of the private financing, it wouldn’t cost them a penny. But here’s the rub, in order to get this fantastic bonus for Harare, they would have to play ball in terms of allowing Dash to function as a payment system in Zimbabwe. That’s why they’re on board, and it is very likely that KuvaCash will get a public letter of endorsement from the Office of the President.
Click to expand...
This is absolutely gigantic. We need to get this done!
 
S

solarguy

Active Member
Mar 15, 2017
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TaoOfSatoshi said:
This is absolutely gigantic. We need to get this done!
Click to expand...
I went in pretty skeptical. I came out totally convinced. Hard to argue with the math. Sure, there's still risk, but not for Dash. That's all on the private investors.
Of course, none of it works if they can't launch the wallet and software...
 
S

solarguy

Active Member
Mar 15, 2017
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I just finished the second interview with Max from KuvaCash with regard to their Android phone app and back end software. The executive summary is:

I download the Kuva app to my phone, went through the registration, which includes some photo ID for AML-KYK. My account was activated. I successfully received some Dash (tDash), sent some Dash, Sent some Dash to a phone number, converted some Dash to USD, sent some Dash via QR code, observed exactly what the exchange rate would be (to USD), confirmed that it was the actual exchange rate in real time, observed (via screenshare) how their back end works, saw my account activated, saw the transactions register on the back end, saw the security fuctions with all server logs, API calls, security tokens. Etc etc etc.(edited) The wallet app looked nice. It has a few appearance and minor function issues since they are in the middle of an upgrade. Despite that, it worked. Once the upgrade is sorted, Max has invited me to do it again, but with full video documentation (once it's all pretty...)

So, the App and back end software is not vaporware and works as advertised. Pretty cool that you can swap Dash for USD right in the wallet.
 
TaoOfSatoshi

TaoOfSatoshi

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Jul 15, 2014
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solarguy said:
In my third interview with Max and James of KuvaCash, I examined their legal opinion that the new 2% tax on transactions doesn't apply to them. Dash for the win!

With regards to the impending KuvaCash launch proposal, there have been questions about if the new 2% tax applies. The new tax is very unpopular and would be a nuisance to collect etc.

https://www.news24.com/Africa/Zimba...otests-planned-against-illegal-2-tax-20181009

Spoiler: The new tax doesn't apply to Kuva/Dash and is a significant competitive advantage.

This legal opinion was determined with exhaustive, in depth analysis. There are at least three reasons why the new tax does not apply to Kuva/Dash. In addition to analyzing the specific new law itself, the legal firm examined the Finance Act, the Income Tax Act and the Mobile Banking Act, among others.

If I can boil down the 7 page conclusion even more, this is not even a grey area. The new tax does not apply. They referred to it as a “fortified” opinion. Rendering this opinion also would have significant if not severe repercussions for them (the law firm) if they were wrong.

The main arguments are:

  1. The transfers are done in a cryptocurrency (Dash), which is not an e-money technically and legally.

  2. Kuva never has custody of the customer’s or the merchant’s money.

  3. The servers and software do not reside in Zimbabwe.
I also confirmed that this is a real law firm that deals routinely with these specific kinds of legal and bureaucratic questions.
Click to expand...
This is fantastic news.
 
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