CryptoCash AMA Questions
Cipher Core Project Marketing Consultant
1. I've heard a lot about 'Crypto Currency', what's 'CryptoCash'?
Crypto Currency is a term that refers to a kind of digital asset that creates and maintains a currency unit in a distributed environment and records transaction information in a distributed ledger using hash function technology. Rather, it refers to a digital currency platform that uses Complete Cipher Technology.
2. Who are the CEO and developers of 'CryptoCash'?
Mr. Motoyuki Odachi (Former Minister of Finance, Former Japanese National Assembly Member)
The developer is Takatoshi Nakamura (MIT graduate, Founder and Patent Holder of CryptoCash).
In addition to these, a number of members of the National Assembly, including IT Ministers Naokazu Takemoto and Yoshiaki Harada, are working together on research and market introduction of 'Crypto Cash' at the Japanese National Assembly Seminar held every two months.
3. What is 'Complete Cipher', the core technology of 'CryptoCash'?
Complete Cipher Technology completely solves the two fundamental flaws of existing crypto systems. First, it solves the incompleteness of the Hash algorithm, such as hash collision due to an algorithm that cannot be decrypted, or vulnerability to attacks of the Hash Dictionary, and the second is the stealing, forgery, spoofing (fraud) of encryption keys transmitted over the network. It is the world's first encryption technology that solves the fundamental problems of the existing encryption system by enabling encryption and decryption without sending any encrypted key to the network using Remote Synchronization.
4. What made ‘CryptoCash’ the first commercialization and competitiveness in Japan?
Currently, research and introduction discussions on cryptocash are actively being held at the Japanese National Assembly Seminar hosted by Congressman Harada each month. At the JCU (Japan Conservative Union) annual event, there was a presentation on 'CryptoCash' through a special session, and it was officially decided to develop Libertyeco Coin, a digital currency for conservative association members, using cryptocash technology.
These two events accelerated the commercialization of 'CryptoCash' in Japan and made the business competitive, and created the uniqueness of the Japanese market, discovering and preempting the first application cases of 'CryptoCash' by industry.
5. Is 'CryptoCash' a platform applicable only to CBDC, the theme of the National Assembly seminar?
The primary goal of 'CryptoCash' is to provide platform functions suitable for CBDC. This is because it is possible to implement a safe and convenient CBDC only by overcoming the limitations and problems of the blockchain, the processing speed problem and the instability of the hash function, and 'CryptoCash' is receiving attention as the only solution.
However, providing a solution to operate this CBDC is not the ultimate goal of 'CryptoCash'. 'CryptoCash' aims to implement not only legal money, but also next-generation solutions (tentative name, SIX Payment) that will replace local money, personal money, and bank OTP. 'CryptoCash' will be established as a public property that anyone can issue and use money easily and conveniently, and will provide a safer financial environment and benefits in money transfer/withdrawal/exchange, etc. than the existing money system.
CryptoCash's complete cipher technology is not only applied to the financial sector such as digital currency, but it has signed NDAs with a number of IT companies to defend against information theft, information leakage, spoofing, and cyberattacks that are threats to hacking on the Internet. We are developing various security solutions.
6. What projects are associated with 'CryptoCash' parent companies or large companies?
We have an NDA with a number of companies, such as applying for a common patent with JRA (Japan Racing Association) and preparing a solution to resolve the dispute over ownership rights, and are promoting the introduction of 'CryptoCash'. Please check the industry sector that is progressing with the CryptoCash NDA through the reference video.
7. What is the goal of 'CryptoCash' to enter the Korean market and what are you aiming to achieve in the Korean market?
Currently, we are preparing to establish a Korean branch of the Korea Information Security Research Institute, which is operating in Japan, and we are preparing to publish a Korean translation of the best-selling book “CRYPTO CASH” which the founder of CryptoCash wrote.
In addition, we are preparing to provide all information on crypto technology such as 'CryptoCash' and 'Complete Cipher' in Korean.
Korea is an IT powerhouse. In addition to having an optimized environment as a pilot market for solving the four major threats in information security: seizure, forgery, spoofing and cyber attacks, there are excellent companies and public institutions that can collaborate.
“CryptoCash” invites them to the Japan National Assembly Seminar and hopes to broaden their exchanges, and hopes to create synergy through various projects and share their profits in the global market together in the future.
8. Could you explain the profit structure of 'CryptoCash'?
'CryptoCash' provides functions of issuing, transferring, trading, and exchanging (exchanging) currencies, and withdraws digital money, and earns commission income when such transactions occur. These ‘CryptoCash’ platform provide users with the benefit of saving money compared to existing credit card fees, existing bank transfers, currency exchange, and overseas remittance fees.
The International Karate Federation's digital currency decided to be issued through the 'CryptoCash' platform and issue Karate Cash, has more than 100 million members, and Liberty Eco Cash, a coin to be used by the conservative union, a representative political community, also will use 'CryptoCash technology'. It is being developed with the goal of launching in 2021 by completing the contract with CryptoCash.
In addition, we share the “Complete Cipher” technology of “CryptoCash” with companies in various fields, and will earn profits from patents and technology fees from them.
9. Could you explain how to purchase 'CryptoCash' and future listing plans?
CIPHC's IEO of ChainX is scheduled for July 23, 2020.
Currently, it is sold on the site as a distributor.
In the future, we plan to complete registration with 10 major exchanges such as VIndax and Coinlim until the first half of 2021,.
As various digital currency issuance contracts with various organizations and federations are underway, their exchanges are also being prepared.
The goal of 'CryptoCash' is to establish a key currency on all exchanges within three years.
10. Please let us know your future business plans.
'CryptoCash' is under the following milestones until the end of 2021.
Main-net complete in the second half of 2020
Launching of Karate Cash, Liberty Eco Cash, and Agricultural Cash in the first half of 2021
Complete development and application of ACU's CPAC2021 consultation within the second half of 2021 and development and commercialization of application cases by industry sector for current NDA conclusions