Tom: Hello CSP Member! How’s everybody doing?
Are you guys ready for the AMA with me?
I’m here and available, let’s start soon.
Nebo: OK let’s start!
Tom: Thanks for having me here.
Nebo: First of all I want to thank you for accepting our invitation.
Tom: It’s a pleasure and again hello to the CSP Community! Sure, it’s a pleasure.
Nebo: Can you tell us a little bit about yourself Tom and your role within PowerKee?
Tom: Absolutely. I am Tom, the COO of PowerKee. Working with the other team members since many years. All the protocol founders are committed to building a network which will be governed by its users and community over the long-term. The team consists of six members which are vastly experienced in building privacy-related tools. The team has worked full-time in the blockchain space for six years and has contributed to major projects in the industry like Status. That being said, privacy tools are a personal passion of all the team members.
Nebo: Interesting, six years in blockchain is very valuable indeed. Can you briefly explain PowerKee?
Tom: I’ll do that, give me a moment. Always excited when explaining PowerKee.
PowerKee is a decentralized cryptocurrency network with a native token that provides strong privacy assurances. The KEE token is the native token of the PowerKee network. The key features of the PowerKee network include privacy assurances, cheap and instant transactions, staking rewards, decentralized governance, and a peer-to-peer decentralized exchange.
I’ll extend my explanation a bit by adding the key features. Then you’ll have the full overview.
Features:
Privacy — Transactions on the PowerKee network ensure user privacy. The PowerKee network is built upon sophisticated technology which ensures the anonymity of its users. PowerKee uses a customized Zerocoin Protocol to provide its privacy assurances.
Cheap and Instant — Send KEE cheaply and instantly. KEE tokens can be sent at near-zero fees with blocks confirming almost instantly.
Rewards — Earn rewards for securing the PowerKee network. The PowerKee network is underpinned by proof-of-stake (POS) and users who operate masternodes will earn rewards.
Governance — Shape how the PowerKee network evolves. KEE token holders play an integral role in governing the network. KEE holders can vote on development proposals with their holdings.
P2P Exchange — Development of a peer-to-peer decentralized exchange to facilitate seamless transitions between privacy coins and fiat currency. Privacy coins have historically faced barriers to conversion into fiat. PowerKee will remove such barriers and implement the leading infrastructure for bilateral privacy coin to fiat trades.
Nebo: I see.
Tom: What feature is most relevant to you?
Nebo: I like all of them. So considering there are other privacy coins, what makes PowerKee special? Which feature for instance does it differ from other privacy coins?
Tom: Many do ask us this question, we are building far more than just a privacy coin, we are developing a full privacy focused eco system.
PowerKee builds an entire ecosystem that extends far beyond providing a privacy coin. Adding a P2P exchange is essential in terms of privacy maintenance while on-boarding and off-loading fiat. Conversion between cryptocurrency and fiat is one of the biggest challenges among current privacy coin users. The in and out is super relevant in terms of remaining private.
Are you personally holding privacy coins?
Nebo: I used to hold Monero (XMR) at a certain time but then decided to reduce my exposure due to the potential future regulation risks towards privacy coins. Some countries have already banned privacy coins as well! How will you deal with these problems?
Tom: Actions by governments and large corporations are creating a pressing need for cryptocurrencies with strong privacy assurances. The need for privacy coins is further strengthened by Bitcoin becoming increasingly integrated with the mainstream financial system. PowerKee can’t be censored by any third party, the whole network will be managed by the community long term and has no central point to be stopped or attacked, that´s the beauty of real, decentralized systems. As you know it’s not possible to ban privacy focused cryptos and our P2P exchange won’t have any downtime ever. The interaction in the KEE network will always be possible.
Nebo: That’s an interesting approach. Many investors think that privacy coins can have problems with Exchange listing. What is your comment on that?
Tom: Indeed. We well thought out our eco system.
We already confirmed to list on two major, centralized exchanges. So far, we didn’t experience any problems in the on boarding process and will increase the amount of exchanges over time.
Nebo: These two major exchanges can’t be disclosed I assume?
Tom: Not yet. Based on our agreements with them.
Nebo: I understand.
Tom: Where do you want to see KEE trading? What’s your favorite exchange?
Nebo: Binance of course. You have $85K initial market cap only meaning PowerKee is a micro cap project! Is there a particular reason behind such strategy?
Tom: First, we want to base our token price on a live product not on pure speculation, that is why we decided to list after our main net is live. Further we want to reward early participants in the network and grow our market valuation organically and in a healthy way. To start as low as possible is the only way in our opinion because the other way around would have a negative effect on our highly valued community. Our market valuation will grow with the accomplishment of our roadmap targets, means increased valuation with further achievements in development.
Guess that makes sense. Do you agree?
Nebo: I do, from an investment point of view as well, the returns could be very fruitful.
Tom: Compared to other privacy coins valuations, absolutely.
Nebo: So what can we expect from PowerKee in the near future? What are your plans?
Tom: Development, Development, Development!
We want to contribute a big piece of the puzzle to an un-censorable internet. The PowerKee protocol ensures that users can maintain complete anonymity while transacting. PowerKee outperforms other privacy solutions on usability and performance. It’s a passion for each team member to build privacy tools for the internet and for the people.
In terms of development everybody is invited to take a look on our website and follow up on the roadmap.
Please make sure you subscribe to our weekly newsletter to stay up to date:
Our newsletter does educate about privacy related crypto topics, not only about KEE.
Nebo: Good to know, thanks for sharing.
There’s another question, how can an emerging privacy coin find a place in a cryptocurrency market that is dominated by Bitcoin?
Tom: Bitcoin is increasingly finding support among centralized financial players like PayPal. This puts severe limitations on the privacy of Bitcoin users. With payment processors and banks being so closely entwined with government, support from these entities further stresses the need for a secure privacy coin.
Companies like Chainalysis have emerged that specialize in uncovering the privacy of Bitcoin users. Even Bitcoin mining pools are being launched that will censor transactions which are not compliant with US regulations.
PowerKee gives its users the ability to regain control of their assets and transact freely and anonymously. PowerKee makes privacy easy.
Bitcoin is not private at all anymore. Do you agree with that?
Nebo: Yes, and I also see that there will always be a place for privacy coins.
Tom: Yes, that’s the case.
Nebo: Last question!
Tom: Excited. Are you getting tired already? I’m still full of energy!
Nebo: I’m sure the community has many questions, be ready :)
What can be expected for an investment in a new privacy coin?
Tom: While not every privacy coin that launches will survive, those that do have huge upside potential.
Some of the leading privacy coins that weathered the harsh market conditions of recent years have provided their early adopters with returns ranging from 4,803% to 130,906% since listing.
A new wave of privacy coins will emerge in the current macroeconomic and geopolitical conditions which create a strong demand for their technology. Those that provide unique features like fiat on and off-ramps will be even more susceptible to price growth.
PowerKee is an emerging privacy network that has particularly strong upside potential. If PowerKee follows the path of it’s low to mid-cap predecessors, early adopters stand to observe a greater than 200x return on their capital invested.
Nebo: Those are huge gains indeed!
Tom: Smart to be an early investor.
Alright, let’s have the community ask questions now.
Member 1: Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?
Tom: We will go live after our main net code is audited, the audit will be available to the public.
Member 2: In Q3–2021 the mobile wallet will be launched, Can I later buy KEE with visa / Mastercard or with other cryptocurrencies? Are there staking, mining and yield farming features? Do users need KYC procedures? and Is there a referral program? Please tell us.
Tom: You will never be able to buy KEE with MasterCard, as we are a privacy focused project. Please have a look into our FAQ section to see how you earn yield, you can stake or setup a masternode. No KYC needed of course.
Member 3: Many investors hit and run in the sell and sell session after listing on the first exchange, How did Your project prevent early investors from selling their tokens and what benefits you would give them?
Tom: A big part of our investors will allocate their token into masternodes and support the network. It reduces the sell pressure and increases the use case of holding KEE long term.
Member 4: Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
Tom: A total of 100M tokens will be available. The team tokens are locked for two years. Please have a look in the FAQ section where you can find detailed token economics.
Member 5: Why is complete privacy important when it comes to blockchain applications?
Tom: Bitcoin is increasingly finding support among centralized financial players like PayPal. This puts severe limitations on the privacy of Bitcoin users. With payment processors and banks being so closely entwined with government, support from these entities further stresses the need for a secure privacy coin.
Companies like Chainalysis have emerged that specialize in uncovering the privacy of Bitcoin users. Even Bitcoin mining pools are being launched that will censor transactions which are not compliant with US regulations. PowerKee gives its users the ability to regain control of their assets and transact freely and anonymously. PowerKee makes privacy easy.
Member 6: What kind of network is PowerKee? What kind of consensus do you use? How much TPS are you planning to achieve and by what means? Have you built PowerKee from scratch or on top of some existing codebase?
Tom: POS based Network. Build on Zerocoin. Please have a look on our website there you can find our tech paper. In terms of TPS, we start out with a better performance than BTC and ETH and scale from there.
Member 7: Can PowerKee team tell me the benefits for long-term investors instead of ‘privacy’ ?
Tom: While not every privacy coin that launches will survive, those that do have huge upside potential. Some of the leading privacy coins that weathered the harsh market conditions of recent years have provided their early adopters with returns ranging from 4,803% to 130,906% since listing.
A new wave of privacy coins will emerge in the current macroeconomic and geopolitical conditions which create a strong demand for their technology. Those that provide unique features like fiat on and off-ramps will be even more susceptible to price growth.
PowerKee is an emerging privacy network that has particularly strong upside potential. If PowerKee follows the path of it’s low to mid-cap predecessors, early adopters stand to observe a greater than 200x return on their capital invested. Plus earning yield through staking and running nodes, the yield is much more sustainable than with other DeFi protocols.
Member 8: Why do you use your own blockchain network? What are the advantages of this project compared to DeFi which uses the ethereum network?
Tom: Full privacy, ETH is not private, all transactions on the network are public.
Member 9: “$KEE can’t be controlled by any gov”
I’ve never such assertive one. And, you use “if” phrase for $KEE & Powerkee business itself on medium articles. Confusing language?
Do you have any Plan B for anything unexpected? Stay calm?
Tom: We are a decentralized network which can’t be controlled by any third party. Transactions are validated across the globe and can’t be censored. We do have Plan A and make Plan A work.
Member 10: How will interest be calculated for lenders on the platform? On what basis and how will the amount of funds for borrowing be calculated?
Tom: PowerKee is a decentralized cryptocurrency network with a native token that provides strong privacy assurances. The KEE token is the native token of the PowerKee network. The key features of the PowerKee network include privacy assurances, cheap and instant transactions, staking rewards, decentralized governance, and a peer-to-peer decentralized exchange.
Member 11: What Partnerships does the project target in the upcoming days? Any Advisors also being lined up?
Tom: Check out our high profile investor portfolio, we have the best advisors on board already.
Member 12: What are the future plans for PowerKee Project? Do you have any exciting things down the pipeline that you can share?
Tom: We want to contribute a big piece of the puzzle to an uncensorable internet. The PowerKee protocol ensures that users can maintain complete anonymity while transacting.
PowerKee outperforms other privacy solutions on usability and performance. It’s a passion for each team member to build privacy tools for the internet and what we are aiming to offer is one of the most significant one.
In terms of development everybody is invited to take a look on our website and follow up on the roadmap.
Member 13: Are you on investment rounds now or will it take a while to go there?
Tom: All closed, please have a look on our medium. We just raised a very tiny amount.
Member 14: Why do we need another privacy coin? What makes PowerKee stand out against other privacy based tokens ?
Tom: PowerKee builds an entire ecosystem that extends far beyond providing a privacy coin. Adding a P2P exchange is essential in terms of privacy maintenance while on-boarding and off-loading fiat. Conversion between cryptocurrency and fiat is one of the biggest challenges among current privacy coin users.
Member 15: At POWERKEE, how many transactions can be made per second? Is KEE faster than other Blockchains? and What are the core features of KEE ? what innovations has KEE brought to the blockchain world?
Tom: Faster than BTC and ETH, starting out from there and scale it up.
Nebo: That’s a wrap everyone! Many thanks to Tom for attending. Thanks for everyone for your participation as well! The winners will be announced in the next following hours! 🎁
Meanwhile, make sure to follow PowerKee on:
Twitter: https://twitter.com/power_kee
Telegram: https://t.me/powerkee
Tom: Thanks a lot Nebo you’re the best.
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