Recapitulation of GloBiance PROJECT AMA event held at AMA LOVERS CLUB.
Date: Thursday, 13th August, 2021
Time: 14:00 UTC
The GloBiance PROJECT team was represented by @Oliverlarosa who judiciously shared with us detailed knowledge and information about GloBiance PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on GLOBIANCE?
ANS: I am German, 41, started as a systems administrator. I founded my first company ServerArena where we rented out game servers to clans before the word "esports" was really known.
Then founded my next company servicing companies, with CitiBank in Frankfurt being our most important client for 8 years, we handled their 24/7 production&network support.
Then we moved our HQ to Malta and went on servicing banks in 7 European Countries for another 5 years.
In 2018 the idea Globiance was born. With my wife, Irina (in red on the photo next to me) and our CTO Alex as well as a small crew we founded the project and aimed to build a Fusion of Bank and Cryptocurrency Exchange.
Since then we have developed a lot. We opened our first licensed exchange in Estonia (Europe) followed by Singapore.
We currently prepare the launch in Australia, Argentina, Brazil , BVI and Mauritius and will also start in the
USA and Canada end of this year.
After which we will go on applying for licenses in TH,JP,KR and MY.
Q2: Can you introduce GLOBIANCE, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: We are regulated, means licensed from day one. Only fully KYC'ed users can trade on the platform, making it a secure trading place with legal certainty for our clients.
Apart from crypto exchange licenses we also have financial services licenses in our group which allow us to issue bank accounts and cards to our clients.
Buying and Selling Crypto using an integrated bank account is a much smoother experience and speeds up the settlements.
We fully support the XDC Network, a revolutionary protocol which has:
-MORE TRANSACTION PER SECOND
-LOWER TRANSACTION CONFIRMATION TIME
-LESS ENERGY CONSUMPTION
-SMART CONTRACT SUPPORT
and currently also build the first DEX on XDC.
Today this is Globiance offering:
Bank + Exchange + Card
and the new features coming up now are
the GBEX Token, a new APP and GlobianceDEX
Following this we will integrate DeFi options in our platform and allow staking for rewards.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Yes we have achieved most of the milestones already as we are building the platform since 2018.
The exchange platforms incl. online banking is live.
Only the new features are left:
App - within 30 days first release
DEX - within 60 days first release
and STAKING/REWARDS in 90 days first release.
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: We have partnership with over 30+ banks which we introduce clients to and also issue their IBANs in our platform. As we understood early the fusion with banking is important we did not want to provide only our own banking solutions to our clients but give them a variety of banks to choose from. So the clients can have multiple IBANs of different banks or our own in the platform side by side.
We work also very closely with large business clients which have been growing with us over the years and form our offering to their demands.
Q5: Can you give an overview of your Tokenomics, and the UTILITY of the $GBEX Tokens?
ANS: Globiance is a group of regulated/licensed exchanges and financial institutions. GBEX is the house token of Globiance and will be used on daily basis on all Globiance Platforms worldwide as well as in the crypto payment gateway.
√ GBEX is an Exchange Token Generation 3.0.
√ Deflationary. 4% Tax – 2% burn – 2% to holders
√ Automatically rewarding Holders.
√ Starting from a small price.
√ Anti-Whale – Dump Protection – only 0.5% Tokens of Supply per Wallet allowed.
2nd Segment: LIVE Questions
Q1: Globiance claim to be one of the few platforms with a global approach and additionally features integrated individual bank accounts for each client while focusing on the user experience of buying and selling crypto combined with the ability to instantly withdraw fiat to the integrated accounts. Are you aware of the fact that one of the things that discouraged most people from banks is there exorbitant charges and interest rate? So Can you tell us about the Globiance platform fees, How cheap and affordable are your products for people to use?
ANS: Crypto trading is offered with low fees and the IBANs (which you CAN but do not have to use, have standard SEPA fees which are not very high btw.)
We try to make everything affordable but obviously the banking parts do cost money- it is up to you to use it or not. We offer the fusion of services for your convience as long as Fiat is still needed, maybe soon not anymore anfd you just use the crypto services with lowest fees.
Q2: Oliver Marco La Rosa, Group CEO of Globiance said and I quote “Globiance represents a significant opportunity to set a new standard of transparency and auditability in digital currencies and will help drive trust and mass adoption of stablecoins" How will Giobiance increase trust and adoption of stablecoins ?
ANS: By offering stable coins based on XDC which have also forensic features.
Q3: What exactly do you mean when you say that GBEX is a 3rd Generation Token?
Also, how do you think that the XinFin network has helped to improve the financial institutions as well as DeFi at large and how secure do you consider it to be?
Q4: Why should we trust this project and what does the name Globiance depicts?
ANS: A Global project. We exist since 2018, not a newcomer. Still small enough to grow and flexible enough to listen to our client's demands.
Q5: What is the best Financial solution you can offer to users who live in countries were Crypto transactions are banned? Also when will the Credit card be available for users to enjoy ?
ANS: We are heavily crypto based so the only things we can offer then is a bank account with a card and not to use crypto.
Q6: Soon, as the mass adoption of crypto becomes a reality, there will be little distinction between crypto banks and regular banks, as the two sectors could converge to offer the best of both worlds to their clients. With a crypto payment gateway like Crypto Processing Gateway, do you accept payments from any country? And, Security due to the nature of blockchain-based cryptocurrencies is very important, is Gateway legit? What support does Gateway provide to users to trust?
ANS: The Gateway is a replacement for your credit card checkout. As many people have no cards, we provide an alternative checkout system totally based on crypto to allow clients to interact with merchants also without cards.
Q7: "Globiance is a financial services group consisting of cryptocurrency exchanges and financial institutions situated in Argentina, Australia, Brazil, Estonia, Singapore and more opening shortly."
I could see this on your website.
What are the planned countries within this year?
ANS: After the current launch wave, USA and Canada will be the last countries going live this year. But we will initiate the licenses in TH,JP,KR,MY this year as well - based on the experience it will take maybe until end of Q1/22 or Q2 until we may obtain these.
Q8: On your website, I learnt that Globiance financial services has cryptocurrency exchanges and financial institutions situated in Argentina, Australia, Brazil, Estonia, Singapore. Do you have physical office in these countries and do they operate under the name " Globiance". Are we likely to see your office in Africa especially Nigeria which is has one of the largest adoption and use case if Cryptocurrencies in the world ?
ANS: Our African platform which will actually turn into a full bank is based in Mauritius and will start at full scale very soon. You will be able to trade there already in September.
Q9: About 1.7 billion adults remain unbanked—without an account at a financial institution or through a mobile money provider. And this has been an issue of great concern for global economy. As a Finance expert, What do you think could be done to help bank this large unbanked population of the world? What are some of the inefficiencies in the traditional banking sector that you aim to address by building Globiance?
ANS: We provide the standard Globiance wallet accounts to everyone globally (except sanctioned countries)
You can hold Fiat currencies and execute payments through our platform if you have an own bank account with us or not.
We connect you.
Q10: As a merchant, how can I add Globiance Pay to my website and can I use the Globiance Pay system to accept Fiat? What advantage do you think the Globiance Pay will have for me as a merchant?
ANS: API integration - our devs will help you - no chargebacks, no card fraud, no rolling reserve, lower fees and instant settlements.
Q11: The aim of Globiance is to bring Cryptocurrency together with a bank, meanwhile, I suppose the aim of DeFi is to eliminate the bank and offer their services in a less Centralized environment. For the sake of education, can you tell us " At what point is it necessary to bring a bank into cryptocurrencies and what does this aim to achieve that the current DeFi solution cannot do ?
ANS: Banking is still needed now, and the licenses are needed to offer certain services. I call our strategy "liquid" we follow the trends and offer what is demanded. In some years maybe Fiat is gone. we will see 😊.
Q12: Currently, there are many countries coming up with regulations and financial investigation into crypto exchanges. How prepared are to provide services to user in accordance to different regulations.?
ANS: Very prepared. From day one we work on banking compliance standard ensuring legal certainty for our users.
Q13: The Globiance Payment Gateway currently accepts only BTC currency with a minimum amount of 0.001 BTC. This to me is not flexible enough as users should have many options to use. So does the team have any plans to support more currencies other than BTC in future?
ANS: of course - with XDC and GBEX being our favourite ones.
Q14: Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can you tell us, What makes your project different from other projects?
ANS: We did it actually the other way round. We did not sell tokens in 2018 when we started (although we had the plan - but cancelled it) - we built our platforms first. Expanded our group.
Now is the time to sell a token and be sure we deliver, because we have done that already 😊....
Q15: I found a DEX page that will launch next October. Then do you position yourself as CEX or DEX or maybe both? With the launch of DEX, what do you expect users, community and Globiance to do? Will you provide liquidity for DeFi tokens?
ANS: Globiance is a CEX in the mentioned countries. But GlobianceDEX will be an additional offering as there is a high demand for it as well.
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