Quote from: holydarkness on September 15, 2020, 07:13:34 PM

Quote from: elitium.io on September 15, 2020, 01:19:02 PM

Sorry, still trying to work the BBCode format for quoting specific replies.

You can delete the posts you wanted to remove, they'll be from a bbcode "[quote author .......] and ended with "

". If that's a bit confusing for the first times, try to replace the entire sentences of the person's post that you want to remove with a ~snip~, I think you'll be able to find the structure easier that way.

Quote from: elitium.io on September 15, 2020, 01:19:02 PM

Similar to US, each country in Asia has their own set of requirements and compliance. Unlike Europe, the entire EEA has the same set of regulations for 99% of all countries.

Asia is ahead of its time for a cashless society (for most countries) with the recent spikes of technology in the last 5-10 years. We predict the card would make a bigger impact where it will be used most.

Also, most crypto whales and mining facilities are ran out of Asia and Europe, hence our narrowed target market. It won't take long for US and other countries to catch up amidst the pandemic.

What makes you think other countries won't have the same features as others? If anything, it's either the products/services will be available or it won't.

Yes, I would agree that Asia is currently in trend of cashless transaction, the pandemic even pushed the mass adoption further because they're encouraged to transact cashless-ly. But as far as I know, the money they use on those cashless transactions are their own fiat. They deposited money from their bank account into an app, and then transact with the balance within the app.

In other words, the money they use to do a cashless transaction are still their respective fiat and not crypto, as their countries (for some) banned transactions that's not conducted with their own currency.

This will leads to a situation where they (for some countries) can't use your token as a means of payment, which I also asked you to confirm on previous post (quoted below) if you have a strategy to get around this, and get a reply that you'll review each countries regulation for the said issue.

With this, we circled back to my question:

Let's suppose (just a random country, I'm not really adept to the payment regulation on said country) Japan banned any transaction that's not based on JPY. This will create a situation where Japanese can only use your token for trading, staking, and other features available on other countries except for a payment system. Thus your card rendered useless.

In your strategic marketing plan, how do you see this challenge affect Japanese preference of buying and holding your token? Given that it is very possible they'll think it's kind of useless because they can't use the "full feature" like other countries does (i.e. as a means of payment)

Quote from: elitium.io on September 10, 2020, 03:50:39 PM

Quote from: holydarkness on September 09, 2020, 11:40:17 PM

This might sounds like a classic question, but... from what ai read, your current selling point is a payment card. And you've said it yourself that Asia will be the next market. From what I currently know, some countries in Asia banned crypto as a form of payment, some even only allows their own FIAT as the legal form of payment. How do you plan to get around this?

The first markets will be Europe & USA. In asia the legal situation is different from country to country, the market is changing very fast so its all about having the right partners on board to be able to adapt quickly.

Of course compliance is the highest priority, but as I mentioned this has to be reviewed per country at the given moment.

Does that answer your question?

[/quote]

Great question. This would require licensing in each country to handle their native fiat. There isn't really any other way to get around it unless we have our own EMI license (or use a partners) or possibly a broker/dealer license to act as an OTC provider on the platform (this raises difficulties for PSPs as OTC is primarily p2p and it would be a bear to automate without proper facilities). Fiat rails are always a big obstacle to conquer but as time goes on and regulations become more transparent, it should open doors

At first, it will purely be based on crypto2crypto transactions. BTC/ETH/USDT/and others to start as our target audience will consist of users in crypto already. This isn't a plot to target the mass public... yet. We have big plans to work with major consumer centric businesses that will open doors to adopt blockchain and the EUM token for their own benefit.

In regards to product, not only are we offering a traditional crypto card, but we will offer the very first crypto CREDIT card. For stakeholders holding a masternode