EasyShareAfrica Summary Recap with Shin Chan Community
We held a live AMA with Ben Onuoha: Head of Partnership & Community, Gugulethu Nyathi: Head of Operations and Prince Ugo Mike Enwerem: Business Development & Marketing of EasyShareAfrica on 11th June 9:00 PM (UTC+8). Here’s the recap for those who missed it.
Introduction
Serene: Before AMA start, can you introduce yourselves and the team background?
Ben Onuoha: Hi everyone. Good day. My name is Ben Onuoha. Cofounder of Easyshare and Partnerships/Community Lead. I’m also the founder of Africa Blockchain Alliance (https://afriblockchain.org/) which is an organization focused on educating Africans on blockchain and policy advocacy in the region. Great to be here. My passion for blockchain and crypto is to see how the technology can create a more inclusive, diverse and fair society.
My work experience has included being the Africa Community Lead for https://consensys.net/; Director of African Operations for https://paxful.com/ and running the Ethereum Lagos hackathon — Ethlagos. https://mobile.twitter.com/ethlagos
Our team is a collective of decentralized individuals who are passionate about democratizing access to finance especially for Africans. The senior team each have a minimum of 10 years experience across Blockchain, Software development, Crypto, Banking, Financial services, insurance, sales, marketing, product development and all others
A brief intro on Easyshare
Easyshare is a mobile first decentralized, collaterized and tokenized peer to peer remittance protocol that aims to solve the last mile trust, liquidity problems and sending and receiving micro crypto remittances especially to emerging economies
Gugulethu Nyathi: Thank you for having us on this AMA, and thank you to the Community Members for making time to join this AMA. My Name is Gugu and I am the Operations Manager at EasyShare.Africa. I have been involve in the Blockchain and Crypto space for over 5years and am leading South Africa’s Public Health Blockchain Protocol, which works very well with a system such as EasyShare. I look forward to your questions in this AMA
Prince Ugo Mike Enwerem: My name is Prince Ugo Mike Enwerem .
I am a skilled professional with over 13 years of executive leadership with a prime focus on business development, foreign partnerships, and asset generation.I participated in the development and deployment of Tradermoni, the largest microcredit scheme in Africa.
I am fluent in 5 languages. Igbo,English,German,Portuguese,Dutch. I lead marketing and Business development in Easyshare.
Serene: Do you have any news/update about Kine Protocol would like to share with us?
Ben Onuoha: Try out our beta app and send micro remittances today from as little as $1. Our beta app is live: https://easyshare.africa/
AMA Twitter Section Begin:
Q1: I really don’t know. Is sending money to AFRICA with a traditional bank that difficult there??
Gugulethu Nyathi: Most Africans don’t have Bank Accounts to receive remittances in recipient countries and since the cost of sending remittances is also too high via traditional Banks, with foreign exchange and service charges as well as volatile fiat currencies, which can sometimes charge up to 20% of the principal amount. We offer a solution that can guarantee as much as +90% of the principal amount received by the recipients.
Q2: Do you have agents or agencies for sending remittances in the countries where the money would arrive? Easyshare is a form platform, which is mainly focused on sending and receiving money using cryptography
Prince Ugo Mike Enwerem: We currently have a small group of Crypto Remittance Agents on Beta Test that help with distribution in our pilot country, Nigeria, and the goal is to sign up more Crypto Remittance Agents who will have to get Share Tokens and Stake them as collateral insurance to guarantee crypto remittance payouts, and for them to be trusted to send crypto remittances. This process of signing up these Agents will take place in the next 90days when the staking smart contracts have been deployed to mainnet and audited.
Q3: You point out that the $ SHARE token acts as a guarantee reserve instrument for the holders, does that mean that only the holders will be able to carry out secure transactions? Or that a certain amount of $ SHARE will simply be required to be able to send remittances?
Ben Onuoha: KYC’d and verified Remittance Agents which we call $SHAREHodlers will be responsible for peer to peer remittance and payouts in their local markets. $SHAREHodlers will be required to stake $SHARE tokens which will act as collateral insurance for payouts in destination country. $SHAREHodlers will be granted a mobile app admin panel to process payout transactions locally and will have a transaction limit equal to half of their staked $SHARE tokens. If for any reason a $SHAREHodler defaults on processing payout transactions to recipients, their staked $SHARE tokens will be liquidated to pay out any pending remittances. Any remaining $SHARE from the default goes back to the $SHAREHodler after deduction of a 50% penalty fee. This is to deter $SHAREHodlers from defaulting on settling transactions within 1–3 business days. We want to create a trusted KYC’d peer to peer system
Q4: I’ve read that there are limits to be able to send a maximum of $2,500 and a minimum of $100 per day to a mobile wallet or bank account. Will users be able to increase these limits if they wish, and how are the limits determined?
Gugulethu Nyathi: We have kept these limits in line with daily legal thresholds sending money without too much KYC/AML red tape, and so that we can run the EasyShare remittance system in a Decentralized way without too much regulatory limitations. We are currently reviewing these limits internally with our legal team and will upgrade the limits as we secure clearance on higher limits in each jurisdiction.
Q5: Easyshare currently supports crypto coins, such as BTC, ETH, USDT, etc. Currently ETH transaction fees are quite high, could you please tell us how you manage the hefty transaction fees of this network?? How do you deal with this cost issue?
Ben Onuoha: EasyShare at present can handle transactions from multiple Blockchains including Bitcoin, Ethereum, Tron, Binance Mainnet, Binance Smartchain, Litecoin and we will encourage the lower remittance amounts to use the cheaper Networks such as Binance Smartchain, Tron and Litecoin. Higher remittances can use Bitcoin and Ethereum networks.
Here is a full List of Coins below:
Bitcoin — BTC
Ethereum — ETH
Binance coin — BNB
Litecoin — LTC
USDT ERC20
USDT TRC20
TRON — TRX
Telegram Live AMA Begin:
Q6: When will the $SHARE Token be available on the market? Can you share EasyShare official links/trusted information?
Ben Onuoha: We’re tentatively looking at June 18th for an IDO private sale listing but may shift it by a week or so as a result of the turbulence in the market and other factors. We will keep the community updated on all our official channels so please follow https://t.me/easyshareafricacommunity here on telegram for regular updates
Q7: Will Easyshare Africa be a global project or only local and will Easyshare Africa’s products have real work products and how does it work?
Gugulethu Nyathi: Thank you for a great question. EasyShare will initially be available in Nigeria, and scale up to other African Countries, then Asia and Latin America. We’re targeting the top 60 Emerging Economies with the most Migrant Workers and that have the highest Remittances
Q8: You’ll designate remittance agents to distribute remittances in destination countries, can you explain the benefits of being an agent? What are the requirements to become one and what activities should they accomplish?
Gugulethu Nyathi: Great question. As a Remittance Agents ($SHAREHodler) you will be able to earn %APY Staking Rewards from your Staked $SHARE tokens that act as collateral insurance, and you will also earn a portion of Remittance Fees
Q9: Wherecan👉👉 I buy your tokens right now what is your current contract and how can I buy them you have any other DeFI feature like staking, yiekd farm or NFT in the future? Can share a little about your roadmap!!!!
Gugulethu Nyathi: The Staking will be available around 90 days from token Sale. You can check out our roadmap is available on our website token.easyshare.africa
Q10: Hi sir🙏🌹
Q1 — How will #EasyShare build a thriving community that truly cares and supports the project for a long time, instead of only getting temporary benefits?
👋Q2 — Are there any plans to be more connected with the community? Just like any other type of social media system, where can people share ideas and suggestions? Because we know the power of community to easily create famous projects?
Ben Onuoha:
1. 20% of the token allocation is reserved for community grants and projects which is by far the largest allocation when you look our tokenomics which we called $SHARECONOMICS. 😊
2. We will strive to be responsive. We have set up a customer service system that would seek to answer questions speedily.
Q11: 🚀I’d like to learn more about the EasyShareAfrica’s background. What caused you to start this endeavor, and what inspired you to do so? Do you have an issue or a requirement for which you have run out of creative solutions?
🚀When will be the staking program going to be available, and how will stakers be rewarded?
Prince Ugo Mike Enwerem: The founders of Easyshare have been immigrants in different countries and have faced challenges in sending and receiving money/remittances.So we believe Easyshare is the solution for Immigrants to send and receive money globally especially micro remittances
Q12: Due to the increasing number of scam projects recently, the trust of crypto users in new projects has been shaken a lot. As Easyshareafrica, how will you prove your credibility against the trust anxiety of users and investors?
Gugulethu Nyathi: We are hoping some of the Token investors will take advantage of signing up to the Beta App and testing it to understand it’s impact before they actually invest in the Token. We hope that having a reliable product will help inspire investor confidence.
Q13: What are the main products of EasyShareAfrica ? Does the project have a plan to launch new products in the future?
Ben Onuoha: Yes we have a detailed roadmap on our whitepaper. Please read our whitepaper here: https://token.easyshare.africa/Easyshare_SHARE_Whitepaper_Public.pdf
Q14: In the world of today, we must remember to respect everyone and to be accountable. Now there have been some recent crypto projects with some sort of Charity Donation. And for those I see them admirable, you might also consider it as giving something back from your success.. Do you have any plans to ever do anything like this?
Ben Onuoha: Yes this is in our plans and we will setup a process to vote and disburse the 20% of $SHARE tokens reserved for community and grants.
Q15: What is your plan about globalization? Do you have local Communities for those user who don’t understand English well?
Gugulethu Nyathi: We are looking to launch Telegram Channels in multiple languages targeting the tope Remittance Countries in Latin America and Asia, and we’ll be looking to some of you Community Members of this group to help us establish these communities, from which we will also request to translate the EasyShare App to all these multiple languages
Q16: #EasyShare; A fast, reliable and super accessible way to send and receive money to anyone in Africa who uses cryptocurrencies! In Latin America there is significant growth in the world of cryptocurrencies! Your platform is only in Africa !? Do you have plans for global expansion to other continents such as Asia and America?
Ben Onuoha: @gugunyathi has mentioned our plans on this we definitely have plans for further expansion into other regions
Q17: Why did you choose africa?
How do Africans respond to blockchain?
Have many joined #EasyShareAfrica already?
Prince Ugo Mike Enwerem: Africa is a Greenfield. There are not a lot of infrastructure in place, so we believe that we can build projects frrom scratch without many obstacles that we will have in other places. Africans are learning and embracing blockchain technology
Q18: EasyShare that aims to solve the last mile trust. What can EasyShare create trust for customers? Do customers need KYC to enjoy all the great features of EasyShare Platform?
Gugulethu Nyathi: Only the Remittance Agents will need to KYC, and end users won’t need to KYC.
Q19: How does EasyShare fit into the Decentralized Finance space? Why is EasyShare needed today and what kind of people are interested in it?
Ben Onuoha: We are currently developing a wallet. This is in our roadmap and pipeline. End users will eventually be able to keep their balances in a wallet and have balances which they can eventually use for DeFi services such as micro payments, micro remittances, micro insurance and others
Q20: Binance smart Chain blockchain has high transaction speed and low gas fees, Are you and your project team planning to launch your mainet or switch to another blockchain in the future?
Ben Onuoha: We are currently launching on bsc. $SHARE token is a multichain token. We will start from bsc and integrate other blockchains as time goes on
Q21: The disadvantage of money transfer platforms that work with P2P service is that there is no “Tangible” person to complain to if the money does not arrive to the recipient, so who is responsible in Easyshare? Do you have a support team that can help us in case the FIAT money does not arrive?
Gugulethu Nyathi: We are developing the SHARE token Staking smart contract so that Remittance Agents must Stake collateral in order to distribute Remittances in recipient countries. Should they fail to distribute the remittances, then their Stake is foreclosed to reimburse the sender or receiver
Q22: The majority of crypto projects are built for the purpose of increasing their own assets. So I want to know what value you want to bring to the crypto industry?
Ben Onuoha: We’re decentralizing remittances. We do not only have a coin alone like many projects; but we have a platform that works with a solid team in active and constant development.
Check out:
https://easyshare.africa/
Please also see:
https://token.easyshare.africa/
Q23: How can a NEWBIE like me to understand the EasyShareAfrica platform easily?
For crypto education, do you have a YouTube channel or articles to guide us on your project? If so, could you share the links with us?
Ben Onuoha: Please head over to https://help.easyshare.africa/. Contains all the resources we have for now. We will be updating it regularly so please check on it.
We will also launch a Youtube channel as you’ve suggested that will have step by step guides on how to use our platforms and products.
Q24: Does Easyshare allow users to make micro-transactions securely and inexpensively? How low are the fees within your project? Do you also allow huge transactions on a large scale?
Prince Ugo Mike Enwerem: Yes micro-transactions can be conducted securely and inexpensively. You can send a minimum of 1dollar
Q25: Can you tell us about your roadmap and development plans for the rest of the year? Will you be working on integrating new African countries into Easyshare? Getting new partnerships and collaborations?
Ben Onuoha: Roadmap can be found on our token website:
https://token.easyshare.africa/
And also on our whitepaper:
https://token.easyshare.africa/Easyshare_SHARE_Whitepaper_Public.pdf
Q26: You hosted a very useful AMA session and received lots of questions about utility, technology, future vision & mission, etc. So now I want to ask you what do you want to receive from the community? How can we help EasyShare?
Ben Onuoha: Please join our IDO whitelist:
https://forms.gle/CvnRzdYSm2gYJagK6
Q27: Although the use of cryptocurrencies is banned in some countries in Africa, we know that there is great potential. How will Easyshare drive blockchain adoption in Africa, and does the government’s view of crypto scare you?
Gugulethu Nyathi: We do work with some Government departments on other Blockchain for Public Service Delivery projects, ad surprisingly enough there is lots of interest to embrace Blockchain across the continent. We’re consistently engaging and communicatimg the benefits of Cryptocurrencies as well, and the absence of proper regulation is what slows adoption. We’re also sharing developments such as the Bitcoin Law in El Salvador as an example of what African Governments can achieve and are confident that they will eventually support Cryptocurrencies
Q28: In terms of sending and receiving money with anyone using crypto. Is the community supported by EasyShare without providing SENSITIVE user personal information? What type of information will be stored in the EasyShare system? Are users protected by the system from possible risks?
Prince Ugo Mike Enwerem: Our project is special because we are the first to respond to the global remittance crisis through decentralization.We will enable micro remittances from as little as 1 dollar
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