BitCashPay with Fred Bruno and Troy Denia
Brief Information
BitCashPay is an ALL-in-ONE DeFi Platform that offers Staking and Yield Farming, Decentralized Lending, DEX with FIAT Cash-in/Cash-out, Crypto Academy, Payment Solution, Remittance.
Introduction AMA
Patrice: Hey @BCPDerek WELCOME TO THE AMA ROOM!! so excited for tonight. How are you today?
Troy: All good Patsu. Thanks for having us here.
Patrice: Glad to have you here! Where are you logging in right now?
Troy: Awesome. I’m here in the Philippines!. Hooray!
Patrice: Wuhoo!! Summer’s about to start! For everyone’s info, Troy here is the COO of BitCashpay. Where is Fred (CEO) right now? just want to clear that out cause your TG name now isn’t Troy 😂
Troy: Sir Fred and the others are currently swarmed with tasks regarding the latest TrustSwap Launchpad. Luckily, I’m available at this moment. 😉
Patrice: oh yeah!! CONGRATULATIONS on the TrustSwap IDO. Thanks for making it here. You have to! lol
Troy: Thanks for the recognition PatSu 👌
Patrice: So first off, please tell us how you got into crypto and a little background of yourself 🙂
Troy: Of course. Wait a sec. I’m actually a nurse by profession but I haven’t had the opportunity to practice it for a long time.
Right after graduation I switched between being a Teacher and being a Private Nurse.
I met bitcoin online in June of 2017. As I invested, I witnessed the Nov-Dec bullrun of 2017, and gained much profit.
I then decided to study this to make a living out of it.
I then team up with some of the crypto enthusiast in the Philippines at that time and I was given an opportunity to handle many positions.
I became a Telegram moderator, Social Media Manager, Bounty Manager and more.
I am currently overseeing BitCashPay’s day-to-day administrative and operational functions.
Most of the Core Team has IT backgrounds btw. 👍
Patrice: Wow! Went through a lot of roles in the space. did you sell your BTC already?!
Troy: Unfortunately, yes. But I still have eth and xrp and other alts too.
Patrice: nice to know! that sucks! haha but you still have a good bag there. how big is the team at the moment?
Troy: The last time we had a headcount we have 16 people in different roles and continually growing/hiring.
Patrice: Nicely sized team! So please do tell us what BitcashPay is all about?
Troy: Thanks. BitCashPay is an all-in-one multi-platform DeFi project. We pride ourselves with providing a solution to our daily financial transactions. Services such as online transactions, lending, staking, borrowing, investing, etc.. are so limited only to the banked individuals and the fees they gather is extremely huge. We aim to reduce all this and provide education for the common mass.
Patrice: is this on ETH blockchain?
Troy: Currently Yes. But there’s a consideration to move to BSC, then Cardano in the future.
Patrice: You mentioned it’s targeted for common mass. Do people need to know anything about blockchain to fully enjoy its benefits?
Troy: Absolutely. In terms of education, differentiating blockchain technology to the conventional way of financial transactions set the standards high for entry and we aim to lower that entry barrier by educating the community as well.
It’s a win-win situation for the community and the economy ( physical or digital).
We believe in the saying that knowledge is power and knowledge is $$$.. so our intent is to educate the common mass that is not in the crypto space yet. We believe that giving them the right education will give more power to crypto space to move forward in the proposed cashless society.
Patrice: Nice! The world needs this as I know a great deal of people are currently unbaked but have access to smartphones and the internet! Please tell us now about your token and what its uses are.
Troy: Definitely! Alright. This might take a while. Please bear with me 👌
Patrice: Not a problem!
Troy: BitCashPay, as a utility token would be used in many day-to-day transactions such as, but not limited to, payment gateway, lending/borrowing, money transfers, etc.. Other services would include, DEX, BCP Academy access and Cooperative creation in many countries. I just summarized it actually.
Currently, the businesses of our CEO and CFO are being integrated into the system and BCP will be used as payment gateway. This requires legal papers here in the Phillipines.
Patrice: Sounds interesting! How do you plan on minimizing the fees in a multi-service platform such as yours?
Troy: I’m not gonna get technical in here and explain stuff we commonly do not know but what BCP will do is have 2 types of wallet for this kinds of transactions. One wallet is a custodial wallet ( using layer 2 solutions ) wherein anyone can make transactions with zero fees at all and the other wallet would be an onchain wallet, with the users having full control of their funds. This is much appreciated when using a decentralized exchange which we’ll also launch in the future. I hope that makes sense 😉
Patrice: Awesome!! I think it’s time for community questions
Troy: Alright
Community AMA
Q: I read it on your website that you guys will be having a multi-purpose cooperative, this is interesting, I doubt if there’s any project with this concept, can you tell us what you intend to achieve with the cooperative? How can I become a member and in what tokens will contributions be done?
Troy: A multi-purpose Cooperative is a common activity here in our country but it still lack drive as information dissemination is lacking for all members. Most Coop creators exist to drive the community away from financial benefits making it solely theirs. Our Coop will derive from Academies wherein each one’s member’s abilities and skills will be utilized for him to “earn” personally and contribute to the Coop as a unit of the group. Anyone can join our Coop. Once we have started Academies in your area, you can cooperate with them until the group is ripe for such activity. We’ll post more details about this soon.
Q: No Project can ever Guarantee the Safety & security of the Platform, Isn’t it? What is the Your Plan to do that?
Troy: This is absolutely true. As we speak, a FULL AUDIT from Hacken is on-going. We have also activated Certik oracle and skynet in our smart contract.
Q: DeFi, Staking and Yield Farming are hot topics right now in Crypto Space, did you make this project only for the short term because of these hot topics? Do you have a long term plan for this project?
Troy: BCP’s concept started way before DEFI existed. Our current status ( not only in he Philippines) financially is so bad that only those privileged has the reach to financial services. let me give you an example to give more meaning to this. If someone unbanked wishes to “loan” money to start a business, he cannot access this service through the banks thus asking the help of another individual with “higher percentage” of interest. And this is the same for almost all services out there.
The DEFI idea started around 2018 and it wasn’t that hyped yet. FastCash3k, one of the CEO’s lending services started before 2018.
Q: ☘️ Can you give us information about Crypto Academy? Is it for users with certain knowledge or do you aspire to inform new users with zero knowledge about the crypto industry?
Troy: BCP Academy is for both the learned and the unlearned. The way it works is that we gather a team of learned individuals who are willing to share information and guide our newcomers to this new concept, including investing and trading. Whenever they have skills in the physical world and digital world, we can develop it through the Academy for them to earn for themselves.
Q: fierce competition in DeFi space. you can find other projects that are similar to yours. What do you bring to the table that your competitors don’t? in other words, what is your Unique Selling Point?
Troy: The DEFi space is currently “oversaturated” in my honest opinion and leads to stagnant results. They are benefiting from HYPE and thus becoming not sustainable for long term. BCP’s edge is in the community involvement. As we empower them, more SCAMMY projects will be refused and more community will be enlighttned. We even have plans for them even for the bear markets to come.
One benefit of our Academy is in trading education. And I guess most of you here knows what that means.
Q: 🐳As I know you provide the P2P service but do we need to approve any KYC to do these operations? How do you control or sanction possible scams in Bitcashpay?
Troy: Scams come in many different ways. Either be it in fiat or crypto. I think that’s one of blockchain’s features, anonymity. BCP will address this as we come in contact with legalities with the governments. This is for the sole reason of generating crypto-to-fiat transactions such as, USDT/BCP , PHP/BCP/ and other local currencies out there. While transactions off chain ( decentralized) happen, our custodial wallet is there provide security to our users. 👌
Closing Remarks
Patrice: Sounds like you guys have a real mission to change the world and take blockchain to everyone’s homes 😁 thank you for all the answers! when is the launch?
Troy: The Cooperative cannot survive without a strong Academy foundation thus it is necessary to harness each ones skill whether your are a new one or experienced.
Patrice: Nice! Please share your links to your socials and groups here 🙂
Troy: The app itself is due Q2. With that, other services follows. Kindly join us in our channel and twitter. Website: https://bitcashpay.net/
Telegram channel: https://t.me/bitcashpayofficialgroup
Patrice: Awesome! Thank you so much @BCPDerek for a very informative AMA AND for everyone who tuned in and participated. Stay tuned for the winners and how you can claim your prizes 🧡
Don’t forget to follow us on Twitter too https://twitter.com/theamaroom
Troy: It’s been a very good experience to be here. Thank you everyone for your time and attention.
For more details about BitCashPay, you can pay us a visit anytime in our Telegram channel.
