Drako
Drako
Feb 26 · 5 min read

Protecting the Trust for Dash

I’m putting my name forward for the trust protector position as I believe that there needs to be further work done to professionalise the DAO, and to hold all proposals, including Core, accountable to this end. The viability of the Dash project depends on this.

MY HISTORY WITH DASH

I was involved with Dash as a trader as early as 2014, but I began working with Ryan Taylor and Alexander Chopin directly in 2017, having seen a lot of problems emerge within the project. I have since become very critical of Core’s overall business strategy and delivery, which I see as actively dragging Dash to its demise (becoming a hobby coin and not a real contender in the market anymore).

The relative metrics over the last year tend to indicate that things are not as rosy as they seem in Dash, it’s value falling from #4 to #15 in terms of market cap, and negligible upward movements with regards to its liquidity. I can help develop strategies to stop this, and drive towards building a better vision for Dash.

BACKGROUND:

Https://www.linkedin.com/in/onlineresearch

For my considerable experience in business and award-winning startups (for over 25 years), please see my Linkedin profile above, and feel free to connect with me for a chat.

My LinkedIn profile includes many personal recommendations from high-level corporate executives, from some of the largest banks in the world (Royal Bank of Scotland Group) through to people who have worked in my own businesses (Intranel, Visionslive, Teragence..), as well as successful entrepreneurs (Leiftech, Outfit Staff…), for whom I have provided management consultancy, strategy, design, branding, engineering, financial/fundraising and business expertise.

The skills I can bring to the DAO as trust protector are indeed unique and deep, please feel free to ask me questions relating to any of the businesses I am or have been involved with.

DISCLOSURE – KUVA CO-FOUNDER:

I am also the co-founder and chief strategist of Kuvacash, along with James Saruchera who is the CEO. The DAO has provided funding of over $1.25M USD to Kuva, and we have raised further $900k USD in private contributions. These contributions include Dash payments made by MNO supporters of Kuva, through Dash’s first sub-DAO, the kDAO.

WHY KUVA?

We designed Kuva as an organisation designed to bring a new kind of money system into Africa; one that allows new forms of investment and growth across the continent, to improve people’s lives, business and lifestyles, starting with Zimbabwe, and using Dash.

Our wallet software, and full back-end system written from scratch is now complete as an MVP launch-able product. We have multiple licensed and regulated as well as unregulated businesses in structured trusts, these forming a new kind of digital business organisation. We have launched our B2B business services just over a week ago, and in that time we have moved approx. 400k USD in remittances between multiple countries in Africa and Europe+Asia Pacific.

WHY AM I PUTTING MY NAME FORWARD AS A TRUST PROTECTOR?

For the sake of our own project, Kuva, to remain a fundamental initiative that brings Dash to the masses, we must ensure the Dash crypto project itself is viable in the long term. Kuva remain exclusively committed to Dash, but recent events have led us to further insight as to the operation (and dysfunction) of the DAO. I wish to do what I can to ensure the long-term viability of the Dash project, and it seems a logical way forward to work as a trust protector in Dash in combination with my other work in Kuva.

PROFESSIONALISING THE DAO – WHAT DO I MEAN BY THAT?

With respect to Core, I believe that simply ‘quarterly reporting’ is not enough. There needs to be a vision articulated by the CEO that is inspiring and makes business sense. Unfortunately from what I can see, Core is being run like a ‘corporate telephone company’ almost completely without the entrepreneurial vision and drive that would be needed to land a new global money system.

ACCOUNTABILITY:

I have been pressing for more detailed financial reporting from all proposal owners in the DAO, including Core for some time now and this appears to have made me a handful of noisy enemies in the community. This resulted in the defunding of my own demonstrably well-run proposal, Kuvacash, which is, despite the efforts of this handful of detractors and to their chagrin, still running to plan.

Many of the complaints came from proposal owners who do not feel like reporting on their ‘free money’ finances, at what I consider to be an appropriate, or in some cases even basic level of detail. I led this initiative by actually showing how financial reporting is done, by doing it in detail on our own megaproject, Kuvacash. Every duff is accounted for, we have also been audited in detail by Dashwatch as a trusted third party, and our claims attested by them and several other trusted community members.

This in turn has led to the welcome outcome of MNO’s demanding deeper accountability from proposal owners in general and I note that it led to several proposals becoming defunded, when information came to light that value was not being delivered by those proposals. In at least two cases there was clear evidence of fraud that was exposed through the insistence of the community on an audit, together with the fine investigative work of Dashwatch that was required to finally uncover it. I am very encouraged to see this very welcome and positive outcome, it is massive benefit to Dash and long may it continue.

ON ACCOUNTABILITY:

I would eventually like to see consistent financial reporting for ALL projects on the DAO. All of us who are MNO’s or hold Dash are responsible for directing funds to proposals that deliver as much value to the Dash ecosystem as is possible. To do this, we need information that is summarised, and the tools to see it, in line with a realisable strategy and vision. Therefore, I would press for a way that that MNO’s can easily see the potential value being delivered from each and every proposal, and that this potential value is over and above the funding that was requested. This reporting should be compulsory for Dash Core Group, where I believe there are major efficiencies that can be made in its operation, and a brighter vision brought to life for Dash. We are much more than ‘a payments and remittance platform’, and I can help bring that vision to life.

FINAL WORDS

I have always demonstrated nothing but the utmost integrity in relation to my own DAO-funded project, and will continue to demand the same of all projects on the DAO, including Core. I would be honoured to serve the community as a trust protector, working alongside the other five and will bring my considerable business and organisational expertise to the boardroom, to drive Dash upward and onward. Thank you for your consideration.

Sincerely,

Andreiko “Drako” Kerdemelidis

    Drako

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    Drako

    I enjoy doing new things and creating stuff for people