Kardiachain And Tokocrypto AMA Recap
Recently KardiaChain announced its partnership with Tokocrypto, the first local Indonesian Cryptocurrency Project to offer a unique hybrid token model. In connection with this partnership, KardiaChain and Tokocrypto conducted an Ask Me Anything session last 6th July 2021, that took place over the KardiaChain community on Telegram where Raflein discussed several amazing facts about Tokocrypto as the leading exchange in Indonesia, and TKO, their token project’s future.
HERE IS THE AMA RECAP BETWEEN TOKOCRYPTO AND KARDIACHAIN
Q1: Can you tell us about the market pie you are trying to conquer, your competitors, and your SWOT analysis for your offerings? What sectors that your team is disrupting now?
Answer: Indonesia is the top country in SouthEast Asia and the fifth largest in the world to adopt this blockchain protocol. As the fourth most populous country in the world, Indonesia is home to a largely cash-based and offline community. Google, Temasek, Bain & Company report in October 2019 noted that there were 92 million Indonesians in the unbanked segment (50.83%), followed by the banked segment at 42 million people (23.20%), and the underbanked segment 47 million (25.97%). We see a lot of potentials to grow the blockchain technology and crypto-asset investment in Indonesia. We want to allow unbanked people to get access to investment instruments with crypto assets.
Tokocrypto might not be the first exchange in Indonesia, but we surely aim to be the leading exchange in Indonesia. We became the first entity in Indonesia to be registered under the Commodity Futures Trading Regulatory Agency Indonesia (BAPPEBTI) in November 2019.
* Tokocrypto is the first and only exchange in Indonesia that achieves ISO 27017 Cloud Security Certification.
* Has the most competitive trading fee at 0,1 percent
* Tokocrypto charges only IDR 5,500 for withdrawal fees
* User-friendly apps, even for a new traders
* Based on coingecko, our security cloud is 9,3 the highest if we compare it with others.
* Supported by Binance, the biggest crypto exchange in the world.
Q2: Security, scalability, and data privacy are three aspects that are very important. I would like to know How the team Tokocrypto resolves if there is an unfortunate security problem? Will there be a security fund to protect user assets?
Answer- Tokocrypto complies with government regulation about crypto in Indonesia. Tokocrypto collaborates with Indonesia Clearing House (ICH), an official clearinghouse for reporting and registration of crypto assets, which are traded or stored by crypto asset traders. On the other hand, Tokocrypto has also been certified with ISO 27001 regarding information security management systems and also ISO 27017 regarding information security in cloud computing. On the KYC system, Tokocrypto also collaborates with Peruri, as the only state-owned enterprise that is included in the electronic certification (PSrE) organizer under the coordination of the Indonesian Ministry of Communication and Information.
And as mentioned previously, we are the FIRST crypto exchange that regulated by the Commodity Futures Trading Regulatory Agency (BAPPEBTI)
Q3: What security system does Tokocrypto have to prevent counterfeiting and attempted fraud? What is the security mechanism of Tokocrypto to ensure user assets do not become the target of hackers?
Answer- We currently have ISO 27001 for data information security and we are the only crypto exchange in Indonesia that registered with ISO 27017 on cloud security. Those ISO’s include a Business Continuity Plan if the system hack is happening. But hopefully, it won’t happen. I think right now, Indonesia is one of the countries that quite strict on their crypto regulation.
Q4: Do Tokocrypto have financial investment tools such as Lending, Yield farming? Do you have a plan to develop it? And will the exchange’s profits be divided among TKO token holders?
Answer– In Q3 – Q4 2021, Tokocrypto will have initiatives with future collaboration with DeFi protocols to formulate innovations including but not limited to: farming pools, saving, and NFTs. And also we will build some similar functions on our TokoToken (TKO) utilities that will be launched during 2021-2022.
I cannot tell much about it for now, especially on the part of the profits. But this is something that we are eager to see, and hopefully, our user and TKO holder anticipated also.
Q5: Security & User Interface are the most important aspects which users observe on a platform. How has Tokocrypto worked on this? Is Platform suitable for Newbies in the crypto field?
Answer- We believe that security and experience in using our platform matter the most for our traders, especially the new ones. Compared to other players in Indonesia, we have user-friendly and stable apps for the traders, as it also becomes one of our strengths. Also, with ISO plus Binance-backed technology, Binance Cloud, we can deliver a more secure platform for our trader’s transactions. And we are focused on educating the public, so people can gain something from crypto, not just from FOMO.
Q6: Currently, quite a few technology companies want to IDO their projects. Do you have the tools to support them? I think the startup incubator will add partners to Tokocrypto
Answer- Yes, some initiatives related to that are on our pipeline and will be launched this year. It is included on TKO Utility that you can see the details on our litepaper here https://bit.ly/TKOLite_V2_EN. Unfortunately, we can’t disclose anything yet, please keep following our social media channel for any information update.
I can promise you, there are a lot of important announcements coming soon around TKO.
Q7: How I can use TKO in the Tokocrypto ecosystem? Is there any reward mechanism for holding TKO ? What are the benefits of holding it in the long term? What do you think about listing the TKO token on the major exchanges?
Answer- Well, currently we have some campaigns to support our TKO Holder such as the TKO Lock campaign. Through this campaign, TKO holders could lock some TKO with minimum of 7 – 60 days then complete the daily missions to get any reward after that.
The token serves several purposes on the Tokocrypto blockchain platform and allows users to participate in crypto exchanges, deposit and savings programs, cross-platform DeFi applications, and NFT marketplaces. Toko Token was officially launched in April 2021 and has since attracted the attention of both private and enterprise users. The Tokocrypto platform was created in tandem with Binance, which serves as a significant backing for the project and its future development.
Tokocrypto and the Toko Token claim to bring revolutionary technology to the financial world in Indonesia. As the first company to employ blockchain technology and hybrid token functions in a single platform, Tokocypto brings decentralized finance (DeFi) to the general public in Indonesia.
ABOUT TOKOCRYPTO
Tokocrypto was launched in September 2018 and became the first entity registered under Indonesia’s Commodities Futures Trading Regulatory Agency (BAPPEBTI) by November of that year. Tokocrypto’s latest project, TKO, is the first Indonesian cryptocurrency to offer a unique hybrid token model.
ABOUT KARDIACHAIN
Kardiachain is a public blockchain platform focused on Interoperability and providing hybrid blockchain solution/infrastructure for enterprises and governments in Vietnam and other countries in South & East Asia.
RESOURCES
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