DKYC AMA Transcript

"Driving mass crypto adoption with an emphasis on privacy, DKYC is revolutionizing DeFi, one payment at a time."

By
BSCNews
on
November 16, 2021
Category:
AMA

Andrew (BSC.News)

Hello everyone and welcome to the AMA with DKYC!

Today we have Ennio joining us to talk about their platform.

Great to have you here sir

Ennio Morricone

Hey hey! Great to be here 🙏

Andrew (BSC.News)

So how this will work is, the AMA will consist of two rounds. The first round will be us going through the questions that I had prepared for you before hand. And then the second round will be a community round where I will open up the room to allow questions to come in. The second round is also where we will select the two winners of our giveaway

Sound good with you?

Ennio Morricone

Sounds magical.

Andrew (BSC.News)

Great!

So to start things off


1. Please introduce yourself and the team behind DKYC.


Ennio Morricone

Easy. I’m Ennio – DKYC lead dev.

I come from an enterprise fintech background with an emphasis on consumer behavior.

Over the last 12 months, the industry has shifted from simply trading goods and services to a brute-force style of information harvesting and gatekeeping.

All that means is, there’s no innocence to spending anymore.

I’ve now dedicated my life to curing this disease of oppression by liberating people everywhere, one DKYC card at a time.

I have a fantastic team that is aligned with this mission. You can visit us at @DontKYC and have a chat to them. They're the A-team.

Andrew (BSC.News)

Okay great!

And I think Taeris is joining us now :)

Taeris 

Ill pop in as well... I'm Taeris, one of the core Admins of DKYC also known as the Oracle of DKYC! I have been working in DEFI for several years now in a number of capacities, and was excited to join DKYC and support Ennio's amazing vision.

Andrew (BSC.News)

So let me give them a quick second to say hi as well

Ennio Morricone

For sure – Taeris is literally the Oracle of DKYC.

Taeris

I run weekday Voice chats, and question periods, along with community outreach and our Youtube channel

Andrew (BSC.News)

How awesome!

Yeah and we're very excited to hearing about DKYC !

So let's get to it


2. What is DKYC? What is the goal/mission of DKYC?


Ennio Morricone

I know we throw around the terms, "financial freedom" a lot – but there's a whole ecosystem behind it. It's not a pipe dream.

So, financial freedom is it... I'll unpack...

DKCY is the world’s first frictionless bridge between BSC and real-world spending.

You can invest in DKYC, hold it, acquire BUSD reflections, and choose to convert those reflections into Prepaid Visa® cards that can be used at over 40 million retailers online.

There’s no token on any chain that’s doing this now. Nada. None. We are the first and only.

We have 8,345 holders as of right now (I just checked)...

Thousands of cards have been dispensed via our automated dashboard system… Over $95,000 worth of DKYC Visa® cards have been issued, and over $300,000 in BUSD has been distributed.

So back to the mission – is to allow everyone, everywhere to spend guiltlessly and freely, without KYC.

@Taerisea anything to add?

Taeris

I mean, this pretty much nails it. However, as we move forward with our NFT's Dcash, and Dpay, we will only expand our holders ability to spend anonymously

Andrew (BSC.News)

Yes definetly and I think is extremely beneficial in this space where I personally see crypto as a whole starting to move a lot closer to centralization

And DKYC of course reflecting the ideology behind DeFi itself

Ennio Morricone

Totally

Andrew (BSC.News)

Which is neat to see

Taeris

We will see people move off of Centralized exchanges, into projects like this

Ennio Morricone

The embodiment of DeFi

Taeris

Back to DEFI

Andrew (BSC.News)

Exactly


3. Can you tell us more about $DKYC? How is it used on your platform?


Ennio Morricone

DKYC is like any other token on BSC.

You can buy it via BOGSwap, PancakeSwap, or PooCoin.

What sets it apart, is that the contract will automatically calculate and deposit your reflections with our unique taxes (where 6% of all buys and 9% of all sells are redistributed to holders as BUSD).

Then, when you’ve accumulated enough BUSD (starting from $20), you can choose to swap it for a DKYC card.

I hope that answers the question, Andrew!

Taeris

BUSD also comes automatically to your wallet. No need to claim!

Andrew (BSC.News)

Yes it did, thank you!


4. What are some advantages of DKYC?


Ennio Morricone

How long have you got.

Andrew (BSC.News)

You have me for the next hour! haha

Ennio Morricone

Importantly for me, DKYC restores the innocence to perform microtransactions without KYC, tracking, surveillance, or the misconception that it constitutes AML simply because it is anonymous (that’s a faulty assumption).

We’ve had such an impressive start already...

With all our phase one milestones completed three months early, we are able to fiercely get to rolling out the next phases, which are pure growth (I'll mention them at the end if that's okay).

Taeris

One thing to mention is how seamless our current system is, click click collect.

Andrew (BSC.News)

Yes exactly and this reflects on the ideology behind DeFi that we were just talking about

This project for sure brings back that aspect of anonymity and security which personally attracted me into this space and caught my attention the most

Ennio Morricone

Must be protected at all costs.

Taeris

The team and the community are behind those core aspects in every way. Financial freedom for all.

Ennio Morricone

If I can just sneak in here – there's an assumption that exercising your right to privacy is somehow "shady", or suspicious.

Let's never forget privacy is a right. And there's never shame in exercising it.

Andrew (BSC.News)

100% agreed


5. How does the DKYC card work?


Ennio Morricone

I'll touch on card acquisition first, as many new holders are mystified by it!

1) Simply buy DKYC, hold it, and accumulate BUSD reflections. 

2) Then, when you accumulate enough (minimum is $20), you log into the dashboard and securely collect your card with a few clicks.

Once your card is displayed on the dashboard, you can save it to the desktop, copy the details and spend it anywhere prepaid Visa® cards are accepted online.

That’s it! Our card is the highest level prepaid Visa® card available without KYC, so you don’t need to register it before using it.

Taeris

AKA 37 million retailers worldwide, online and in the physical world

Ennio Morricone

You can use any cardholder name (E.g., Tim Cook, Andrew Anon), and any valid postal address worldwide.

Andrew (BSC.News)

Andrew Anon

Love that one

Hahaha but thank you for that explanation!


6. Where does the liquidity come from?


Ennio Morricone

Initial LP was provided by the presale (70%)...

And a percentage of the DKYC buy/sell taxes also boosts LP.

Taeris

⚪️ TOKENOMICS ⚪️

Supply: 10 Billion

Buy tax – 9%

• 6% to BUSD (can be redeemed for a DKYC card)

• 2% to Auto-LP

• 1% to Marketing

Sell tax – 14%

• 9% to BUSD (can be redeemed for a DKYC card)

• 3.5% to Auto-LP

• 1.5% to Marketing

No team wallets.

Ennio Morricone

Side note, if we ever become overliquified (meaning LP is too high and requires much heavier investments to move the Market Capitalization) – our contract can automatically funnel that excess LP into what's called a BuyBack + Burn wallet.

All that means is, the BuyBack wallet will buy the DKYC token and immediately burn those tokens.

This reduces the circulating supply of the token, theoretically making it scarcer and more valuable over time.

Also with DPay - the first anonymous payment gateway to bridge BSC to real-world spending online and in-store - every buy using DKYC cards will also be paired with burns. 

More spending. More deflation.

Andrew (BSC.News)

Okay nice, thanks for that clarification

So aside from the initial liquidity that you have reserved, there is a very important mechanism that generates liquidity

Ennio Morricone

To keep it all at the sweet-spot too.

Andrew (BSC.News)

Yup


7. Who is DKYC for?


Ennio Morricone

Insulating it from sells, while enabling movement on buys.

Think about this – our target audience has been on the receiving end of a squeeze for decades.

If you think that, under the guise of KYC-AML (Know Your Customer-Anti-Money Laundering), governments want to know who you are, why you have money, where it came from, why you’re spending, and what you’re spending on.

Now, the corporations are jumping in on that trend and collecting their own set of invasive data on your habits, behaviors, and private information.

During my time in enterprise-level fintech - they had a greasy term for it, always used with a chuckle...

Andrew (BSC.News)

Yes and unless I'm mistaken, AML laws have been around since the days of the prohibition so it is extremely outdated

Ennio Morricone

"Surveillance capitalism”.

Very, very archaic.

I'll-fitting. Unecessarily strict on the everyday person who just wants to buy a lobster roll from the corner store and some groceries for the family.

We stand for the good in humanity—those who want to take care of daily expenses and purchases directly from BSC, with no KYC.

Taeris 

As he mentioned, DKYC is literally for everyone who is in DEFI. If your on the Blockchain, youll want DKYC to ensure you have access to the premier offramp on the BSC, and wider as we move to bridges such as Solana and more

Projects of the future, will want to consider being part of Dcash, our platform that will allow swap of another crypto to DKYC.  "wen DKYC"

Ennio Morricone

haha

Wen wen wen.

Andrew (BSC.News)

Hahaha


8. What problems could you possibly face by not going through with a KYC process?


Ennio Morricone

Firstly, consider that NOT KYCing means the business or government entity doesn't get its dopamine fix of information harvesting.

You're essentially depriving the system. Cutting off their supply. Blocking access to your vitals.

Now, all of a sudden, they don’t know your name, address, intentions, or bank balance. 

Their back-end databases are now lighter, emptier, and reveal nothing about you. 

Now, they can't weave a completely evil, biased narrative about who you are (like Facebook does with its server farms).

Of course, some entities hate that. And they'll try to throw arbitrary identification curveballs at you, with extra hoops for you jump through.

Overall, though, most of our users have had little to no difficulty spending anonymously without KYC.

Can we just reiterate. Privacy is your right. Flex it.

Its basically being a passive non observer of KYC policies

Can I just say, re-reading my response, just triggers the activist in me.

That's how you know it's a life mission.

Curing this very real, very tactile disease of KYC.

Andrew (BSC.News)

Yeah no, its a very powerful statement that I think needs to go out there

Taeris

And with our cards being prepaid cards similar to any major retailer uses to provide their own branded visa card, also using a double blind system here,  its nothing that didnt exist really, just was never till now linked in this fashion to DEFI, in a seamless way

Andrew (BSC.News)

And its not to say that we're a bunch of off-grid dooms day preppers. But rather uninterested in government/businesses collecting data on every part of our lives

Ennio Morricone

Let's bring back the CIA motto, and use it against these degenerate corporations and governments:

NEED TO KNOW BASIS

I want to buy a sandwich. You do not need to know my yearly salary.

Andrew (BSC.News)

100% agreed

Okay great answer

So last but not least


9. Any exciting news you would like to announce here today?


Ennio Morricone

Oh my.

This is the golden nugget, isn't it?

I can’t contain my excitement for what we have in store in Q4 and beyond.

It’s going to change everything we know about finance. 

No more hopium. No more vaporware™ like most other payment gateway and NFT tokens.

Remember, we've gone from a concept, to a wireframe, to a prototype, to a working beta, to a finished product.

It works.

We've delivered the core product. It's already changing lives.

So when I announce what's coming up, it's with the utmost sincerity.

We have been in the financial matrix for the longest time.

The growth of DKYC will get to a point where we won’t even need our current Visa® offramp.

Can I recite some lines from a movie we've probably all watched a thousand times?

Just came to me.

Andrew (BSC.News)

By all means sir

Ennio Morricone

Neo: “You’re trying to tell me that I can dodge bullets?”

Morpheus: “No neo. I’m telling you that when you’re ready, you won’t have to.

We all know that one, right?

Andrew (BSC.News)

Is it bad if I have no idea what movie that is...

Ennio Morricone

Oracle, please school this man.

Haha

Andrew (BSC.News)

hahahha

Taeris

The Matrix

Andrew (BSC.News)

Gotcha

Ennio Morricone

Let's apply this to DKYC.

We're a capable team with irresistable value proposition and protocols.

When we're ready, we won’t have to operate on the same archaic playing field as Visa®, Mastercard®, or even PayPal.

We won’t have to play ball on the same legacy level.

We won’t have to bend to the constraints of an inherently flawed financial system (like they do).

We don’t have to settle for inequality and surveillance. We are going to be the breath of fresh air that has we've all needed for decades.

I get carried away. Many holders know me for my tangents.

Plain English.

Here's how we're going to break internet finance.

- We are about to release the world’s fairest points system that rewards not only whales and big spenders, but authentic community contribution, engagement, content creation, and more. The points translate to Bonus BUSD, which can help all holders reach their Visa® goals sooner.

I'm so happy to announce, it's going to drop next week 🙂

It's multi-variable, fair, open and accessible to everyone.

With small bag, fat bags, or kraken-sized bags. We don't discriminate.

- We're dropping the world’s first full utility series of NFTs, including Bonus BUSD, status points, shopping rewards, special access, and so much more.

We could have easily released a money-grabbing series of 10,000 auto-generated NFTs much earlier, but that goes against our values.

We want absolute utility, exceptional value, outstanding multi-modal applications and more.

We will be releasing specific details about the launch date, rarity, editions, and everything else, on Tuesday in our group AMA.

- We are already hard at work on Dpay™ - our very own anonymous payment gateway that will work seamlessly with businesses everywhere, without any proprietary hardware.

And, let me just drop this here graphic.

Incoming.

- We will be the first ever fully anonymous payment gateway for the decentralized metaverse.

Just think, we will increasingly conduct our lives and work within the metaverse.

It makes sense that, in a DeFi metaverse, you need an equally impressive DeFi-worthy currency and gateway.

You get it folks? That's us.

We're perfectly positioned to be the one.

We have the team. The protocols. The fundamentals. The knowledge. The know-how. The methods. The cross-chain expertise. The everything needed to transfer an anonymous DeFi->Real-world fiat offramp.

That's us. Us us us.

DKYC will be the only metaverse-compliant, fully non-KYC payment gateway where you can shop, work, send money and receive your weekly wage in fiat, anonymously.

Taeris

I cant follow that up in any better way. "We're perfectly positioned to be the one." #neo /end

Andrew (BSC.News)

Wonderful guys

Would you be able to provide us with links to your social media accounts?

Ennio Morricone

Sure thing

Taeris

yep

Ennio Morricone

Links

Website:

Twitter:

YouTube:

Instagram:

Medium:

Telegram:

Discord:

Reddit:

Andrew (BSC.News)

Awesome! For those who haven't already, make sure to go and check out DKYC everyone!


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