[ANN] TOKENCARD

[theomoplatapus]

This VISA business is so funny to watch, people have no idea what they're talking about. I have a partnership with Duke energy as they provide energy to my home. What? Duke Energy won't let me use their logo to advertise myself? My partnership with Duke energy is a complete sham!

I work for for a payment processing business. We utilize the VISA network. We didn't form a "partnership" with them, in fact there are 2-3 degrees of middlemen in-between us and VISA. Its probably misleading to an uninformed community for tokencard to frame it as a "partnership" if we're being pedantic but all of these people claiming that they lied about gaining access to the VISA network are very uninformed or just trying to get cheap TKN...it is an illegitimate concern. Any business can get access to the network. Move on to legitimate concerns.

[1714788304]

1714788304

[Kazadar]

This was deceiving to token sale contributors, Visa is well accepted all over the world, one thing is having the Visa logo on the card one thing is not having it (including access to the service).
Simply many merchant will not accept the card unless it has Visa or MasterCard on it.

You should give the option to your contributors to receive a refund if they are not happy with this development.

There wasnt any mention about them not having access to VISA's services. They are just doing it through a middleman, just like it says in the whitepaper and FAQ.

[kooho]

https://www.youtube.com/watch?v=Y5a51-B1Xdg Coin Interview with Tokencard.io
Kraken bought 32kETH worth(4:15)

[theomoplatapus]

This was deceiving to token sale contributors, Visa is well accepted all over the world, one thing is having the Visa logo on the card one thing is not having it (including access to the service).
Simply many merchant will not accept the card unless it has Visa or MasterCard on it.

You should give the option to your contributors to receive a refund if they are not happy with this development.

They do have access to the VISA network. And why would you want a refund when you could sell your TKN above ICO price? This is nonsensical...

[favdesu]

no. that's not how it works and that article is retarded.

see: https://medium.com/@MonolithStudio/tokencard-tkn-bittrex-and-the-future-5feb4ad79477

[minersday]

So nobody seems to have an answer to this?

Could somebody tell me which one is the correct company in switzerland if any as stated in the token agreement?

https://www.zefix.ch/de/search/entity/list?name=monolith

You have access to Google, right?

So which is it?

Neither of them.

Ok, so where is it?
Please point me to a company registry from where it can be found? The company mentioned in the token agreement.

Maybe a VAT-ID, of the company?

So do we have company that does not exist on any official records? Having VAT-ID that does not exist on any papers? They should be doing business and handling transaction queries from VISA (Banking regulations?)
Please provide more information, maybe somebody knows this information?

Soooo.. any information dug on this?

[kooho]

https://medium.com/@MonolithStudio/tokencard-tkn-bittrex-and-the-future-5feb4ad79477 Great News!

[moonblocks]

Hello Token Card!

Please Like or RT: https://twitter.com/themoonparadigm/status/858537840359034880

[USBitcoinServices.Com]

No bounty program for this project?

[whale123]

So will it be as simple as using regular card?

[Kazadar]

So will it be as simple as using regular card?

Yes. The main difference is that the funds are drawn from your eth address and not your bank account.

[5thangel]

So will it be as simple as using regular card?

Yes. The main difference is that the funds are drawn from your eth address and not your bank account.

Well, that sounds very interesting. I am really optimistic about my investment in this project.

[redsn0w]

[FandangledGizmo]

I read the article on FT alphaville

So I guess it was used for marketing purposes before actually having an agreement with Visa.

I understand this may happen through a middleman... Isn't that going to raise costs of transaction rather than working directly with Visa?

Yes the cards will still have worldwide Visa access and be physically branded as such. I'm also interested to know what the total costs of using the product will be.

For me the real issue here is the FT & how their tech journalist looks to anyone that reads their publication. Clearly a company can have all the Visa access described provided they have a partnership with an authorised issuing bank, which they have. Crypto is really getting a buzz in the City of London & a few more incompetent articles like this will seriously hurt the FT's credibility.

On a positive note TKN's latest medium article says they think there's a decent chance they can beat their current initial MVP timeline.

We are heads down focussed on the product. Looking at our timeline, there is a chance we might be able to ship the MVP TokenCards before our mid September goal. Fingers crossed. Progress updates will be posted here every two weeks, or whenever appropriate.

https://medium.com/@MonolithStudio/tokencard-tkn-bittrex-and-the-future-5feb4ad79477

[vatived22]

What happened with the Visa Logo being taken off from your website? could there be an explanation on that? thanks

[super55]

What happened with the Visa Logo being taken off from your website? could there be an explanation on that? thanks

They post on their Twitter few days ago....they took it out on the advice of their card-issuing partner.

See here>>> https://twitter.com/tokencard_io/status/861656023538573312

[Kazadar]

What happened with the Visa Logo being taken off from your website? could there be an explanation on that? thanks

Quote from the link just above your post.

Recently some mainstream articles have suggested direct relations between us and payment networks. Projects like ours operate through an authorised issuing bank. Articles suggesting otherwise are incorrect.

To mitigate this problem, and at the advice of the issuing bank, I have ordered to remove all explicit mentions of Network brands to ensure no further confusion happens. The product has not materially changed in any way; TokenCard will still be branded with the various respective Networks.

[minersday]

So basically what the difference with this? seems like same almost same graphics..

https://coinsbank.com/cards

But personally, I don't think they will get this to function properly,

I give you one big reason.
How do you think your tokens are converted to fiat which they have to use, using some exchange rate, where do they get it? from coinmarketcap? like they did with SNGLS conversion?
got the wrong amount, lots of losses, who pays for those losses => bankruptcy (which company or person, no VAT id, dont know, or disappears) => TKN value zero.

-> cards wont work

and do not look at the founders personal facebook page......

[minersday]

So basically what the difference with this? seems like same almost same graphics..

https://coinsbank.com/cards

Or this
https://uquid.com/uquid-card

and you can clearly see that they present their address and VAT ID's etc.
where's the same for this?

all powered by wavecrest..
oo.. so many cards....
https://www.google.com/search?q=is+issued+by+Wave+Crest+Holdings+Limited+pursuant+to+a+license+from+Visa+Europe.+Visa+is+a+registered+trademark+of+Visa+Incorporated.+Wave+Crest+Holdings+Limited+is+a+licensed+electronic+money+institution+by+the+Gibraltar+Financial+Services+Commission.&client=safari&hl=en-fi&prmd=nisv&ei=mj4TWa3wFIGC6ATIo6u4Cw&start=10&sa=N&biw=1024&bih=729

[FandangledGizmo]

So basically what the difference with this? seems like same almost same graphics..

https://coinsbank.com/cards

Or this
https://uquid.com/uquid-card

and you can clearly see that they present their address and VAT ID's etc.
where's the same for this?

all powered by wavecrest..
oo.. so many cards....
https://www.google.com/search?q=is+issued+by+Wave+Crest+Holdings+Limited+pursuant+to+a+license+from+Visa+Europe.+Visa+is+a+registered+trademark+of+Visa+Incorporated.+Wave+Crest+Holdings+Limited+is+a+licensed+electronic+money+institution+by+the+Gibraltar+Financial+Services+Commission.&client=safari&hl=en-fi&prmd=nisv&ei=mj4TWa3wFIGC6ATIo6u4Cw&start=10&sa=N&biw=1024&bih=729

If you believe blockchains will continue to grow in value & that there will be a growing demand among crypto-currency users for VISA enabled debit cards then you can at least admit that there is a very bright and profitable future for the market leader in this space.

In 2014 the leader was Visa debit cards, which this year grew to $6.239 trillion.

https://www.nilsonreport.com/publication_special_feature_article.php

How much of that $6 trillion market share will the leading crypto VISA enabled debit card account for in a few years? Even 1% will be $60 Billion and $600 million in fees per year. Very few if any blockchain projects have the potential to be that profitable within the next 5 years.

However those other companies you mentioned are largely unknown and will pay a fortune in marketing to attract a handful of users. TKN on the other hand already has thousands of crypto-currency shareholders who are all potential/likely customers and promoters. In addition they have constant free marketing exposure to the entire crypto market given that their brand will be traded on the majority of exchanges where their potential customers are present and it is already in the top 50 by market cap.

When they release in 4 months 95% of alt-coin holders will know who TKN are while less than 1% would probably be able to name the competitors you just listed.

In addition one of the key USP's of TKN as far as I can tell vs. existing competitors is the smart contract wallet

4.1 Smart Contract Wallet
Upon a user joining the platform they launch their own Token Contract Wallet, or grant allowances to their existing wallets.
This Contract Wallet acts as the equivalent of a bank account that holds funds and enforces security parameters, but, crucially, it is controlled only by the user. Users run through a setup wizard and are prompted to customize settings to fit their preference, including:
• Setting daily limits to safeguard assets
• Setting up a base currency for example ETH (any fiat deposited into this will automatically convert upon load).
Typically digital currency security is a tradeoff between usability and functionality. Users must trade security of their funds for convenience when they decide whether to hold tokens themselves or leave them at an exchange. We think we can do better.
By shifting control of user assets back into their own hands and giving them easy to manage fine-grained control of their digital assets safeguarded by the security of smart contracts, users can have better security and substantially improved usability.

(WhitePaper)