Sep 10, 2019

(P2) Analysis of some key points of Webinar, 4-9-2019

Analysis of some key points of webinar on Sep 4. 2019 - PROGRESS ON FLOORING UP (Continued).

Discover the secrets of OneLife!


3. Liquidation limit and preparation work for the Exchange to launch.

At the Week 18 Webinar, the Group confirmed:

Liquidation limit: The Exchange Company accepts each client (Client) a monthly liquidation of maximum amount of USD 10,000.

💥Another condition is "Per Operation" - Honestly not sure what the exact meaning of this term is? Hopefully next week we will be explained by the Group. So who? What conditions must be met? To reach the maximum liquidity limit of 10,000 USD?

Exchange company use a combination of 2 types of limits:

Limits by compliance (Limits by compliance) - is the term used at financial institutions or large corporations with large business scale, complex business operations, need to comply with the process of the system. Complex internal control systems. OneLife is a technology corporation, so the term will become more and more complex. So in particular, the limits will look like in the coming days.

💥Limits for trade (transaction level): the transaction is understood as both trading directions. However, in the context that OneCoin has just been offered, the floor company will face with a large amount of supply (selling volume), thus encouraging buyers.

The "compliance limit" limit is considered to be the most decisive factor.

💥Both limits are determined by the highest threshold of liquidity of USD 10,000 or less. The USD 10,000 threshold applies to all types of transactions between Onecoin and other Fiat and Cryptocurrencies.

* Platform compliance (not required to apply at the start of the exchange):

The exchange is expected to launch no later than mid-September. Currently the exchange is defined during development. The exchange received approval from Security and process control. An API gateway between the floor and Worldcheck and GoAML software has been provided. The representative of the European License issuing body will have to check this connection. Therefore, the trading company has downloaded all "requirements" and "risk points" to integrate them into the trading floor to meet the requirements set out. The modifications have been completed, awaiting approval.

💥FYI (For your information) - Information for you: There will soon be a video clip to prepare to introduce the functions of the Trading Floor.

4. European License

💥The meeting with the CB for European matters specifically the compliance with AML and CFT procedures was completed, approved and stamped.
💥Risk control issues have also been approved
💥Compliance with the risk control policy described in the guide covers complex basics to ensure the effectiveness of compliance with the risk control system.
💥This tutorial includes 2 stages:

1- Stage: Assessing customer records (ie OneLife members) in 5 steps. By comparing customer data with data in the Worldcheck system to eliminate the risk that this customer file exists AML, CFT objects. In addition, in this period, if detecting customers related to PEP (Politically exposed persons), it is necessary to determine the level of involvement or interaction between OneLife member and PEP. Verification of customer information via social networks is also conducted simultaneously.

2- Phase: Conducting risk control - mainly using the GoAML tool.

💥Control the cash flow of funds and transactions (to calculate the applicable standard deviation and deviation)

💥Operational activities and cash flow were discussed including "disaster recovery plan and business continuity maintenance". A number of financial issues related to liquidity and liquidity have also been discussed.

💥Stress test is underway - This solution is being carried out simultaneously with the operation department to determine how much liquidity can meet the supply (amount of coins sold). thereby locking Fiat money demand in case this demand is extremely large. This has been negotiated by a leverage technique to be used.

💥Approved business continuity plan (BCP)

💥Disaster recovery plan (DRP) has been approved

💥Approved operation.

=> Therefore, it can be said that the Exchange Company and OneLife have prepared all necessary and sufficient conditions for OneCoin to go on the exchange. Now it is just waiting for the face-to-face meeting with the CB Representative to audit the IT stage that it will be temporarily licensed to launch the Exchange until the middle of September. (Members Note: Group This is mid-September, but that doesn't mean it falls on September 15 :) :)

See section 5 to better understand this idea.

5. Licensing and auditing IT systems

Currently, we are still waiting for a direct meeting with Ngan's representative of the Central Bank (Central Bank) to visit and check the actual IT system. A work permit for a CB representative needs to be obtained soon. Workpermit means a work permit issued by a competent authority to a foreigner who is permitted to work in the country and at an exchange company whose office is located. It is understood that the Trading Floor Company is waiting for a work permit issued by Central Bank experts to come and work. Calculated from September 4 - the date of the report release up to now, probably next week the meeting and direct working between the CB's experts and the Trading Company and the parties will take place.

When the actual meeting takes place, if all the problems of the floor operation even a small detail are clarified, then the trading company will be granted to the trading floor by the trading company immediately. temporary start to set up and operate the exchange.

6- Compliance in countries (including some notes)

💥This week the Trading Platform Company will continue to send reminders to all countries that have not yet responded to the requests and deadline sent by the Trading Platform. Results will be provided in a separate report file later.

💥Having gathered the member countries into an alliance group to make amendments to that country's legislation on issues related to the Cryto trading floor and remittance remittance service. In my opinion, this is the establishment of an alliance of exchanges in countries to prepare to open many exchanges in many countries and this is also a stepping stone for the OneRemittance platform to launch.

💥It is interesting to know what the decision of each country is, if only the exchange is open in a country if the exchange's office is registered with the office and the address of the registered office to the government in that country (are those required when that country's law takes effect)? Or other exchanges not registered with that country, but providing exchange and remittance remittance services in the national territory, still have to register? Many governments have yet to make a decision on this. So the question is Vietnam, why? Which is the Government of Vietnam?

7. Basket of currency Onecoin

OneCoin allows conversion from OneCoin to:

• 40 fiat currencies: Which include lots of strong foreign currencies. This proves that OneCoin is ready to position to attract customers of strong currencies. The "Central Bank Bridge" is used to help each of us members gradually shift from the use of banknotes to digital currencies.

OneLife's first 3.5 million members are the first to walk on that CB bridge - which so far has not had a single coin made by a corporation in the world - even Libra made by Facebook

• 21 digital currencies: Looking closely at this Cryto basket we will see that there are both top and weak coins. This means that anyone who owns OneCoin can now convert into any other coin - provided that these other types of Cryto are approved by the authorities (who is authorized). I don't know at the moment.)

=> Through the above basket of Onecoin, it is clear that: Onecoin is proving to the world that OneCoin is a very friendly currency because OneCoin's community goal is to market 2 billion people worldwide. No bank account. Therefore, from the perspective of Tham, in the future, OneCoin will be a global friendly digital currency in 3 aspects:

💥Tending to be associated with all fiat currencies - will be the forefront of the trend that digital currencies will replace the paper currency.

💥Tend to be associated with a variety of digital currencies to hold a dominant position similar to Bitcoin in the form of digital money or as USD in the form of banknotes. Let's try to predict whether the price of Bitcoin will increase or decrease when OneCoin has been on the floor for 2 years?

💥Products and services within the OneLife ecosystem that symbolize daily life needs are: Learning (OneAcademy), Trading (Dealshaker), general payment function (Banking) placed in the context when money is carefully Digital fog officially comes to the brilliant dawn, then surely OneCoin will come into our daily lives throughout the countries on this earth. Maybe at this point Tham is a bit optimistic. But basically the above shared analysis is from the actual basis is happening.

8. Conclusion on article

💰Message No. 1: Tham has expressed many times to OneLife Member that: The knowledge shared here is to help you read to understand OneLife, especially you need to be aware that you are Holding a large fortune in your hand, it will be difficult for you to get a good investment opportunity like OneCoin. Even with Libra now they are priced at 1USD for 1Libra. This means if you want to own as many Libra coins you have to spend that much. While you have had the opportunity to own OneCoin for so very low prices so now we are coming to the harvest season with unprecedented profits in life, why do we abandon it while we have ourselves feeling that I have not fully understood OneCoin.

💰Message No. 2: Deepen your understanding of OneLife more and more so that you can have a solid knowledge of making your own decisions for large assets that will become a reality in the future.

💰Message No. 3: Join hands with the Group and the people who are working day and night in both Vietnam and the world to increase the availability of OneCoin. As the availability increases =>, the liquidity will increase.

💰Message No. 4: From now on, know how to interact with Dealshaker even if only as a buyer - also shows a sense of responsibility for their property and the community.

💰Message No. 5: We are just at the beginning of the early digital dawn. In the coming years, there will be many unpredictable changes. OneCoin on the floor - just a first step only. Each of us needs to keep increasing that assets. By the way you always cultivate your own knowledge to accompany the financial revolution. Which Tham thinks the safest way now is to accompany OneCoin. With the knowledge and experience of many years as a financial manager for Investment Funds, systematic businesses, experienced blood experience in the digital currency world Tham believes that it will help many of them Thinking about investment, technical difficulties to accompany OneLife, namely with Dealshaker and the exchange at the moment.

Dinh Tham
Translated by
Post date 10/09/2019
Vietnamese Post:

No comments:

Post a Comment