HOT OFF THE PRESS: Monaco CEO Kris Answers 20 Slack Questions:1. Why is there no need to change the dates on the roadmap, when Card Program Approval was scheduled for September?
We don’t have anything to add at this moment.
2. Are you really 100% confident that cards start are shipping this October?
We will have first cards in the wild in October, admittedly in small quantity.
3. What other parts of the world are targeted for cards shipment and when (e.g. Russia and Canada)?
We are working on a global rollout with multiple regions (and markets) being worked on in parallel. It’s too early to commit to dates for additional markets.
4. I live in a country that is not covered by ASIA/EU/USA, but I have an address in one of these continents. Can I still order and use the card in my country?
Countries will be prioritised based on multiple factors, including local issuing capability, number of cards reserved, ability to use our existing processing relationships and capabilities, cryptocurrency regulation and others.
The more users from your country reserve the card, the higher the priority of your country for Monaco.
5. Are all cards in the queue to be issued in order or is it region compliance dependent?
In order, but taking into account regional rollouts.
6. What happened to the ICO buyers being guaranteed to skip the waiting list?
If you participated in the ICO and used the same e-mail address, you will be given priority.
7. Would it not be wise to have a dollar equivalent amount of MCO to lock up for the cards as to not be effected by the rise/fall of the MCO price?
We don’t want users to think of this purchase as “cost”. As such, MCO denomination is more suitable.
8. How do you respond to the concerns about Monaco selling tokens on August 31st at the peak
https://etherscan.io/token/Monaco?a=0xf9a5e0436c01cc15708449e480fa5f2d6a5b55caMonaco did not sell a single token. If you see any movement of MCO tokens from our asset contract, there are payments for bounties.
9. Can you clearly outline when it is/was that the developer/advisor tokens were/are about to be released? And will the market cap be changed to reflect this?
None of the tokens were released to any advisors as of 6 Sep 2017.
10. There are many in the Crypto community that are now convinced that Monaco is either a scam or a project to stay well clear of. Whilst the Monaco community of long holders know this isn't the case, what actions are being put in place to win back the wider Crypto-community?
The list of 4 items raising profile of Monaco in near future
a) positive press coverage following our next dev update
b) users receiving their cards and posting reviews of Monaco card and app
c) announcements of new leadership team appointments
d) completion of our first institutional fundraising round (VCs)
11. Many token holders have a desire for more communication, are there plans to improve the situation?
Yes. We are hiring aggressively and see a lot of value in communicating more frequently and in different formats.
12. Is Monaco considering leaving slack after the next announcement due to the number of phishing scams?
Our preferred route is to educate users about the dangers of ph\ising scams and lobbying Slack team to implement solutions addressing this issue.
13. How does Monaco handle internal exchange operations (fiat-to-fiat, fiat-to-crypto, crypto-to-fiat)?
This is proprietary technology and we’re not planning on sharing this information.
14. How is the exchange rate calculated?
Our exchange rates are going to be very competitive, but exact algos are unlikely to be shared publicly.
15. Will the Monaco card be a Credit or a Debit card?
Debit to start.
16. What is the difference of Monaco Visa Program Manager and other competitors Visa, and why it is good?
Running on our own BIN as opposed to a shared BIN allows us to give users better pricing and allows us full control over rules of the program to build the product we want.
17. Can you outline the general VISA Program Manager application process?
The one sentence version: sign BIN sponsorship agreement, pass due diligence, submit PIF. get PIF approved, receive BIN #s, setup up the processing platform, get card art approved, manufacture cards, pass UAT, go live.
There are hundreds of smaller steps involving multiple parties.
18. Do you need an own BIN for becoming VISA Program Manager?
Theoretically, no. See answers to question 16.
19. Are there any new hires you can tell us about?
Expect news on this in October.
20. What can you tell us about the upcoming dev update 2?
Focus will be on new features & business model.
