Pending transaction number will be displayed in the “Transaction History” section of the app to give members some idea on where they are in the queue. This should be implemented before the end of September. This way members will be able to track their position and see that there’s progress (they are moving up the queue etc).
Average conversion time right now, due to issues with processing transactions on the Ethereum Blockchain (high congestion) is 36-48 hours. The company is already working on several alternatives that would significantly speed up the “CTO conversion” process, some of them will still be implemented in September.
Profit Pool and Jarvis Audit
Their lawyers are working on this. Getting the CEZA license is an important step towards starting the audit process. The company should be “CEZA Compliant” still before October 5th and after that they start. The name they used in order to register for the Ceza license will also be revealed on 5th October.
Pre-paid Debit Cards
The card is prefunded with $
The card has to be activated first in order to work (like a membership - 200CTO, 1 or 3 years - not decided yet).
You have to “lock” a certain number of CTOs in order to enable a certain limit (amount x current price of 1 CTO = spending limit).
Collecting Debit Cards for other members
Take a selfie holding your passport and a piece of paper saying:
“My name is __, my Cloud 2.0 account ID is ___, and I authorise ____(name), Cloud 2.0 account ID_______ to collect my prepaid debit card on my behalf.
When should we be able to convert CTO to ETH again?
Once that cryptocurrency stabilises. The number of pending transactions on Etherscan is still too high, but once it goes down to about 30,000, they will be looking to turn that feature back on. They are looking to add DAI as another cryptocurrency, we can convert CTOs into.
Aurae Blockchain Explorer
They are working on it and will do their best to have it ready before the end of the year.
Online Reputation Management
The are putting together a “media department” to work with leaders and create standardised material, which leaders would then translate and disseminate across their teams.
They will also be organising webinars for leaders specifically, educating on how the communication is going to be done inside the company.
This year their focus is to be sure that Jarvis, Rogue, Debit Cards, OTC, Travel Platform, Global SimCard and their Blockchain Explorer are fully operational.
Next year it’s going to be all about growth!
They will be looking to to sublicense products from “traditional business owners” and sell them inside the ecosystem.
No, once they are on-chain, members just have to wait.
In-App Chat/Video Meeting System
The company will introduce a “group chat” functionality for groups with 50 users and less.
For larger groups, members will be able to do a one-way broadcast to the entire team. A streaming service like zoom will be also available to communicate with the team. Groups will have moderators too.
Members will be using their nicknames an account IDs.
How is the company planning to scale their infrustructure
The have to work with other cryptocurrencies in order to resolve this issue. Cloud is utilising Ethereum, Bitcoin and other networks inside of their ecosystem and many things are outside of their control. Ethereum is already working on releasing new functionalities that would significantly speed up their network (Ethereum 2.0).
Why the price of CTO suddenly started changing several times per day?
As the entire crypto market is a bit slow right now, they are introducing other trading strategies (scalping), in order to still be able to remain profitable.
Instead of using “just” 200 trading bots with 100BTC trading volume each, now they have around 5,000 bots, with 1BTC or less trading volume per transaction.
The are in a joint-venture with another company and 7 of their traders are sitting in Cloud Token’s office and they know, which crypto to target for good profit when it comes to scalping trading.
Because these types of trades are much shorter and now the funds are moving directly into the “Profit Account” (Not into the Reserve Account anymore), the price of CTO from now on will be updated a lot more frequently.
Corporate Structure Flow Chart (Assets, Liabilities etc).
The lawyers are still going through this, they are hoping to be able to release it before the end of the year.
There will be 2 versions of the product.
Version 1: 5th October
Members will be able to use their CTOs to buy packages and top up the card.
Version 2: Early December
They will be using members’ crypto assets in order to trade and use profits to buy data in BULK from data providers. Because of the amount of $$$, they will be able to get better deals.
The deposits made by members who are looking to use GlobalSim cards will be increasing the total amount of crypto, which they have available for trading.
Deals, which they may be able to get from data providers may already be paid for from 1 or 2 months worth of trading, and the rest of the earnings will be going into the “Profit Account”.
Defamation/Malicious Posts and Videos Online
1. “Cloud Token Mauritius issue” - this has NOTHING to do with the company.
The leaders out there got themselves into trouble with local regulators (the company offered help and their lawyers are already in talks with the regulators to resolve the situation).
2. The company have already sent out around 53 cease and desist letters to various Bloggers and Youtubers for defamation. Around 10 have already removed their content. Ronald is gonna get another update from their lawyers for us.
Crypto Assets Under Management
The Cloud Token Team has around $150 Million directly under their management. They have 3 more parties involved in trading. Overall they have around $470 Million under management.
Binance vs Cloud Token
Trading accounts on Binance are NOT registered under “Cloud Token”, but setup as “personal accounts”.
The company has already moved about 60% of their funds away from Binance because of these issues with them (comments, Binance made on social media and accounts being frozen for 10 days).
Free Event Tickets
Anyone who still wants to receive a free ticket to the event, must message customer services via Facebook asap.
Payout - how is it calculated?
The company decides on the payout % once per month, once they have a full summary available of their trading activity.
As per the information from company’s lawyers, they will be restructuring how the “Reserve Pool” is working, effectively converting it into a marketing fund”, that the community members will be able to utilise for various marketing activities.
If the company is making 8% profit from trading and it’s been decided that the payout for that particular month is 6%, they will pay out 6% to members and the remaining 2% will go into the marketing fund.
If they are generating “just” 4% from trading, then 4% will be payed out, everything is based on actual profits.