How has the Myanmar Ministry of Commerce reacted to your team’s report?
We are allowed to operate based on current laws.
Where can I learn more about the tokenomics of the SKYBIT project?
You can find our Tokenomics in the White Paper:
https://drive.google.com/file/d/1ZW_SINFg-oT06DBrTTiwAOu0V4IyGetm/view
Myanmar is like a quiet country for me when it comes to crypto business. If SkyBit will be successful, this will be like a stepping point for more blockchain projects to be introduced in their country. I don't know about their regulations when it comes to crypto. Do they have loose regulations with crypto business or is it easy to put up a crypto-related business in that country? Do you have merchants that are already accepting at least bitcoin as payment method?
There is no explicit legal framework for cryptocurrencies in Myanmar, so the default view is that they are digital assets, which are not illegal.
how did the Myanmar Ministry of Commerce react to your speech at the last conference? Are they planning a collaboration with your project?
We are allowed to operate based on current laws.
Will the exchange of cryptocurrencies be made through the API on the exchange partner?
We plan to cooperate with multiple exchanges
Will it be possible to buy and sell cryptocurrency on SKYBIT? This is great news for Myanmar residents.
Yes, we will cooperate with different exchanges and will also add other cryptocurrencies to our platform
Which Myanmar companies support the idea of the SKYBIT platform?
We will announce this info later. Stay tuned!
Myanmar already has officially registered blockchain companies and cryptocurrency companies?
Yes, for example Everex. You can find this information on the Internet.
Do not you think that attracting public investment will make your project dependent on the government?
We have one aim — to help Myanmar to build a modern financial bridge between this country and the whole world 🌎
Why did you decide to abandon traditional payment systems in favor of cryptocurrencies?
We solve a long-standing problem in Myanmar – difficulty for money to go in or out via the traditional international banking system.
Our solution is to use cryptocurrency. Our payment processor allows businesses in Myanmar to easily receive payments from international customers who pay in cryptocurrency. Moreover, our platform also allows donations to easily be sent to aid organisations in Myanmar.
Will all sellers on your platform need to confirm KYC before selling their products?
Sign up on the SKYBIT platform and:
a. confirm your email address
b. complete your user profile at SKYBIT.ASIA/userProfileEdit including writing your Telegram username so that we can check in t.me/SKYBITASIA
If the seller does not want to convert bitcoin to fiat, can he withdraw bitcoin to his personal wallet?
Yes
Will there be a referral program for selling goods on your platform?
We will announce this info later. Stay tuned!
Where can I read more about the tokenomics of your project? Why can you use your tokens in the future?
You can find our Tokenomics in the White Paper:
https://drive.google.com/file/d/1ZW_SINFg-oT06DBrTTiwAOu0V4IyGetm/view
Why can not locals accept cryptocurrency and change it to local currency on cryptocurrency exchanges?
There is no explicit legal framework for cryptocurrencies in Myanmar, so the default view is that they are digital assets, which are not illegal.
Will SKYBIT charge a commission on every product sold?
Payment processing fee is 1% of amount quoted on invoice
Do you think your team will be able to create this product and create demand for their services?
Sure
I like that the government of Myanmar supports your project and relates crypto to digital currencies
