Weekly ADK Vol. 41 October 15-21 2018
translators (hajime, kazu, HALO)
(http://twitter.com/3284_hajime)
(http://twitter.com/nishinokazu)
(http://twitter.com/subjayc)
Hello! This is Yusui (Twitter:@ hironoyusui).
Mr.Ricardo is going to build a stadium and hotels in Nairobi, I’m looking forward to go there.
Anyway, let’s review the ADK information!
=== Contents =============
1. Listing on P2Pb2b
2. Banking network of ADK project
3. Will ADK bank have deposit insurance?
3.1. Deposit insurance for legal currency
3.2. How about deposit insurance for crypto currency?
4. Progress of ADK-ETF
4.1. What if all ADK that had been locked up for ETF are sold out, and still there are some people who want to buy more ADK? What will they do?
4.2. How to buy ADK-ETF
4.3. Meaning of ADK-ETF
5. Plans in the future
=======================
1. Listing on P2Pb2b
https://news.p2pb2b.io/new-coin-aidos-kuneen-got-listed-on-p2pb2b/
2. Banking network of ADK project
[Ricardo]
The ADK banking network will be comprised of Sumac bank, Tanzanian bank, and our EU bank
Anyone can open an account remotely by paying the fee by ADK, except for people living in Iran, North Korea, Iraq, Syria, or Afghanistan.
KYC such as a photocopy of a passport and residential certificates is necessary for account opening. People can exchange ADK for legal currency.
3. Will ADK bank have deposit insurance?
3.1 Deposit insurance for legal currency
[Questioner]
Japanese banks have a deposit insurance system which compensates one’s deposit up to 10 million yen. Is there such system in Kenya? Or will ADK bank have its deposit insurance system?
[Ricardo]
That’s a good question.
In EU, deposits are protected up to EUR 100,000.
There is no such law in Africa, but Kenyan central bank states that they will protect up to 5 million shillings (about $ 50,000).
Another thing, banking clients in Kenya have to keep around 14% capital to asset ratio. And at the moment central bank is trying to raise the capital requirements and I like it.
For these reasons, gradually Kenya is becoming one of the strongest countries in Africa for offshore banking.
3.2. How about deposit insurance for crypto currencies?
[Questioner]
Thank you for your answer. Now I understood about the deposit protection for legal currencies.
Now, how about the deposit protection for the crypto currencies? such as BTC or ADK.
I think there are many rules for the crypto currencies, but no deposit protection for them in the world for now.
[Ricardo]
We are working with the central bank to allow our bank's users to deposit ADK and SELL/BUY ADK for fiat. They are positive towards this function especially for ADK, but not for BTC.
[Yusui]
Regarding the deposit protection for legal currencies, it seems that existing rules are likely to be applied, but regarding the protection for the crypto currencies, it seems to be under consideration in detail.
☆Reference
4. Progress of ADK-ETF
[Ricardo]
Now we are trying to show the technology and how to implement the trading function to the NSE.
Of course, it is necessary to lock up some ADK for ETF, so we need to explain about ADK wallet to the NSE.
[Ricardo]
The company of the black painted document last week was one of those prepared documents in response to NSE's request.
Badoer Group ADK ETF Ltd. is the company necessary for ADK-ETF trading according to the rules of NSE.
That can exchange ADK for ADK-ETF.
☆Reference
https://steemit.com/africa/@hirochang/weekly-adk-vol-40-october-8-14-2018
[Ricardo Badoer@ Donrico 77]
Please understand that Badoer group ADK-ETF is just the company that will be regulated by NSE to be able to convert ADK to ETF. It is all very simple
4.1. What if all ADK that had been locked up for ETF are sold out, and still there are some people who want to buy more ADK? What will they do?
[Ricardo]
I do not know how big the demand will be.
However, there are people who want to sell ADK and obtain fiat, and meet their demand with supply born from the situation.
As for details, I can not say anything certain from negotiating with NSE.
What I can say for sure is that the realization of ETF brings a lot of demand and many new clients.
☆Reference
Vice President of Kenya says, "It might be better for small and medium-sized companies to be listed on the securities exchange more easily."
Https://citizentv.co.ke/
4.2. How can I buy ADK-ETF?
[Ricardo]
I am planning to make it possible to buy and sell through Sumac bank, but I think it will be after completing online banking.
[Ricardo]
So, I think that it will be traded at first by using a trustworthy agent authorized for the securities exchange.
For example, agents will be as follows. (We had been talking about this topics before.)
AIB Capital (Website)
Dyer & Blair (Website)
Faida Investment Bank (Website)
Genghis Capital (Website)
Kingdom Securities (Website)
NIC Securities (Website)
SBG Securities (Website)
Suntra Investment Bank (Website)
4.3. Meaning of ADK-ETF
[Ricardo]
In order to possess crypto currencies,
register at the exchange → buy Bitcoin → exchange with altcoin → download the wallet and send money.
It might be easy for you guys, but you guys are rare people.
Most people do not want to hold crypto currencies making such a process.
In other words, once ETF is realized, it will bring new customers.
Furthermore, even if you change the crypto currency to the legal currency, there are many countries that dislike the money suspected of being illegal.
So, it is meaningful to be able to trade on the securities exchanges.
[Yusui]
This topic is talked about in telegram every week.
There are a few people who have crypto currency and also read telegrams,,,
5. Plans in the future
[Ricardo]
I will write up the upcoming plans.
-Within 3 months: ETF
-Within 3 months: Step 2
-Within 4 months: EU financial institution
I will do my best to make Sumac's online banking system available as soon as possible.
[Yusui]
When it proceeds according to the schedule, it will take several months from ETF realization to online banking completion.
If you want to trade ADK-ETF before then, I think you will be using an agency that is under NSE's license.
That’s all for this week!
Thank you for reading this week to the end!
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ADK WhitePaper
https://github.com/AidosKuneen/whitepaper/releases/download/v0.03/adk_whitepaper.pdf
(English Version)
Website
http://aidoskuneen.com/
In development: http://www.aidosfoundation.com/
GitHub
https://github.com/AidosKuneen
API
https://aidos-kuneen.readme.io/reference#about-the-api
Twitter
https://twitter.com/Aidos_kuneen
Telegram( ←Join us and say hello to ADK community, please!)
https://t.me/aidos_kuneen