• Forum has been upgraded, all links, images, etc are as they were. Please see Official Announcements for more information

Dash Kuvacash updates and activities

Max Yoga

Member
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 UPDATE 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

Please see further proposal details and discussion here:
https://www.dashcentral.org/p/DASHKuvaCashProject
 
KUVACASH UPDATE 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

Please see further proposal details and discussion here:
https://www.dashcentral.org/p/DASHKuvaCashProject

Excellent reporting, I'm pleased do have you taking charge of this.
 
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
Please see further proposal details and discussion here:
https://www.dashcentral.org/p/DASHKuvaCashProject

******************
 
Last edited:
Hi Everyone,
Just realised the link was set to 1.30am EST not 1.30pm (13:30 EST - my apologies to anyone who tried to watch the stream earlier today). Also link says 'Friday' when it should say 'Monday' - although it is on 27 November. The time has been corrected, it is:

Monday 27th November @ 10.30pm PST/1.30pm EST/6.30pm GMT
 
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 MNOs who have voted on the #Kuvacash proposal (Yes, No or Abstain) will be eligible to claim Kuvacash Utility Notes (UNs). This means that all that is required to be eligible to claim your UNs 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, investors, 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. Utility Note Owners (UNOs) are able to participate in the success of Kuvacash, more to follow.
 
Last edited:
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 MNOs who have voted on the #Kuvacash proposal (Yes, No or Abstain) will be eligible to claim Kuvacash Utility Notes (UNs). This means that all that is required to be eligible to claim your UNs 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, investors, 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. Utility Note Owners (UNOs) are able to participate in the success of Kuvacash, more to follow.

great
no recoding ?
 
Dash vs Kuvacash..this is one of the great project of dash..I love the idea of kiosks, agents and master agents. This same system has been adopted by some telecommunication companies in Ghana and are really disrupting the affair of the bank because people want easy transaction than complex centralised banking system.

Dash would work best over this mobile money business because it covers the world and for the exclusive feature DAO, privatesend and instantsend no cryptocurrency can outweigh.

Cheers!
 
Dash vs Kuvacash..this is one of the great project of dash..I love the idea of kiosks, agents and master agents. This same system has been adopted by some telecommunication companies in Ghana and are really disrupting the affair of the bank because people want easy transaction than complex centralised banking system.

Dash would work best over this mobile money business because it covers the world and for the exclusive feature DAO, privatesend and instantsend no cryptocurrency can outweigh.

Cheers!
 
********Mini-update********
Thank you to all our supporters for this month, here is a quick update for you for the beginning of Jan 2018, we have been very busy over Xmas and the new year to keep with our aggressive timelines;

1. We have on-boarded Solidus as a partner to assist with requirements development, who have expertise in regulatory technical requirements.
2. Implementation for Masternode VCO Utility Note distribution is progressing, as is work in relation to legal and regulatory
3. Mobile Application development for our MVP app (for the regulator to progress our license application) is progressing without issue
4. We have expanded our team further with regards to legal and finance operations (will update on our webinar which we are planning for end of Feb).
5. Ongoing discussions with the regulator (RBZ) in relation to our ADLA license are progressing without issue

******************************
Thanks to the Dash community for the ongoing support, and wishing everyone a great start to 2018!
We will be holding a webinar towards the end of January for a more comprehensive Q&A session and update.
 
Kuvacash - Making Money Better

**Amended proposal (to fit) from DashCentral reproduced below**
View full proposal and discussions at:
https://www.dashcentral.org/p/DASHKuvaCashProject

Previous updates at:
https://www.dash.org/forum/threads/kuvacash-updates-and-news.17344/
**

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 measure. Although 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%.

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.

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 founder's 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.

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

Dash Kuvacash was funded for 1695 Dash in total over 3 months from September - November (565 Dash per month).

*****
Please see full proposal links and archived discussions from links at the top of this description for more details.
 
********Mini-update (re-posted here)********
Thank you to all our supporters for this month, here is a quick update for you for the beginning of Jan 2018, we have been very busy over Xmas and the new year to keep with our aggressive timelines;

1. We have on-boarded Solidus as a partner to assist with requirements development, who have expertise in regulatory technical requirements.
2. Implementation for Masternode VCO Utility Note distribution is progressing, as is work in relation to legal and regulatory
3. Mobile Application development for our MVP app (for the regulator to progress our license application) is progressing without issue
4. We have expanded our team further with regards to legal and finance operations (will update on our webinar which we are planning for end of Feb).
5. Ongoing discussions with the regulator (RBZ) in relation to our ADLA license are progressing without issue

******************************
Thanks to the Dash community for the ongoing support, and wishing everyone a great start to 2018!
We will be holding a webinar towards the end of January for a more comprehensive Q&A session and update.
 
Back
Top