{"id":5327,"date":"2021-02-02T20:19:30","date_gmt":"2021-02-02T18:19:30","guid":{"rendered":"https:\/\/esatoshi.club\/?p=5327"},"modified":"2021-02-02T20:31:38","modified_gmt":"2021-02-02T18:31:38","slug":"roxe-chain-x-satoshi-club-ama-recap-from-2nd-of-february","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2021\/02\/02\/roxe-chain-x-satoshi-club-ama-recap-from-2nd-of-february\/","title":{"rendered":"Roxe Chain x Satoshi Club AMA Recap from 2nd of February"},"content":{"rendered":"\n

Hello, Satoshi clubbers Another AMA took place in\nSatoshi Club and we would like to introduce to you the AMA session with our\nfriends from Roxe Chain. Roxe Chain is a global\npayment network that allows businesses, banks, cross-border remittance\ncompanies, and third-party payment platforms to interconnect with each other\nand make instant, low cost, cross-border, cross platform payments and our guest\nwere @LDA_Michael @HaohanApifiny @hackapreneur. The AMA took place on 2nd<\/sup>\nFebruary.<\/p>\n\n\n\n

The AMA session was divided into 3 parts with a total\ncrypto reward pool of 500$ <\/p>\n\n\n\n

In this AMA Recap we will try to summarise the most\ninteresting points for you.<\/p>\n\n\n\n

Part 1 \u2014 introduction and questions from the Telegram community<\/strong><\/h2>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Hello Satoshi Club! We are happy to\nannounce our AMA session with Roxe Chain! Welcome to Satoshi Club😀<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> good day Satoshi club!<\/p>\n\n\n\n

@LDA_Michael @HaohanApifiny @hackapreneur welcome\nguys!<\/p>\n\n\n\n

Michael Huynh<\/strong>:\nHello! Welcome everyone and glad to be here!<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nHi Satoshi Club, how are you guys today?<\/p>\n\n\n\n

Thanks for having us<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> great! how are you?<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Hello, guys! Happy to see you here 👍 we are great!\nHope you’re as well😉<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> market is growing so everybody should be\nin a good mood😁<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nWe\u2019re doing well, excited for this and feel good to be here<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> So, we can start🚀<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nGreat, let\u2019s do it<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Could you please introduce yourself and\ntell us how did you start with Roxe Chain!<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nWe are a global payment network that allows businesses, banks, cross-border\nremittance companies, and third-party payment platforms to interconnect with\neach other and make instant, low cost, cross-border, cross platform payments.<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> sounds cool<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> We need more such projects! Payments\nshould be accessable everywhere 😉<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nI have a crypto background and use to trade aggressively😂 in college. But\nmost of my background is traditional finance, I have always identified some\ninefficiencies with the payment world, especially how our settlement system is\nso outdated. We have a growing team of blockchain, IT, finance, regulatory\nagency veterans. Many members of the team have decades of experience in the\npayment industry. And they mostly come from SWIFT, DTCC, Google, Microsoft and\na few other established companies.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> It’s your time now, a big storm on the\nmarket 😂<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nWe want to try our best and yes indeed there\u2019s movements in the market<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> How old is Roxe Chain?<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nAlmost 2 years!<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Wow! Long way!<\/p>\n\n\n\n

And i feel that it’s a very good time to dive deep in\ndetails about Roxe Chain and start with the questions from our community 😉<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nYes fire away!<\/p>\n\n\n\n

D.\n| Satoshi Club: <\/strong>🚀<\/p>\n\n\n\n

Q1 from Telegram user @meml97 <\/em><\/strong><\/p>\n\n\n\n

Roxe Network will offer a lot of\ninnovative features to your users, will any of this services be restricted to\nmembership access only? Will Roxe have this kind of thing where they offer\nstandard services to normal users and other ones to some kind of VIP members?<\/strong><\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nAt the moment, we do not have a membership program for retail users who are\nusing Roxe App. But we have thought of membership programs and membership based\nincentives, will perhaps implement in the future as we gain more ability to\ngive value back to our users<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> perhaps you have some affiliate program?<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nYes we definitely have that, and that will vary depending on the region you are\nin<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Thank you for your answers! Ready to\nproceed?<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nYep!<\/p>\n\n\n\n

Q2 from Telegram user @JesusFre1tes <\/em><\/strong><\/p>\n\n\n\n

Recently, Roxe Chain Foundation has\nlaunched a Supernodes partner program to drive a new paradigm for global value\nexchange with the American continent. How can users become part of this\nprotocol and become a Roxe Chain Supernode? With this protocol, how will you\nstreamline the way payments are made within the platform?<\/strong><\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nSo our supernode program is only avaiable to enterprises such as banks, central\nbanks, exchanges, payment and remittance companies, IT companies. We plan to\nhave only 21 supernodes gloabally. However, for the normal nodes program, any\ncompany from the above categories can become a node. A node will empower the\nnetwork and share its value. For the supernodes, each supernode will get 1% of\nthe annual transaction fee revenue Roxe gets.<\/p>\n\n\n\n

Supernodes will bring in their own use cases in the\npayment world, thus significantly empowers the network in the beginning. The\nnetwork will then be able to draw in nodes even faster.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> So, normal nodes also only for companies?\nPrivate person can’t become a part of this?<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nSo the nodes program is not really open to individuals, but individuals can\njoin as a businesses, and keep in mind, they are already interacting with Roxe\nChain when they use Roxe App, since it is a decentralized wallet<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> But they don’t get shares of the 1% of\nthe annual transaction fee revenue 😉<\/p>\n\n\n\n

Hope, you will have a lot of another incentives for\nprivate persons😉<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nYou are right, nodes do not. But currently the nodes that have joined are very\nvery very happy with what we bring in terms of speed and cost.<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> so Roxe App is already available? can i\ndownload it and try?<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nyes we will definitely have that. We always pass on the value we get to our\nusers as soon as we get to<\/p>\n\n\n\n

No not yet available on App Store\/Google Play yet, it\nis in testing stage, but more than 90% done<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> nice! 👍<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Great! We will be waiting for it!<\/p>\n\n\n\n

Q3 from Telegram user @esrarengizbtc <\/em><\/strong><\/p>\n\n\n\n

The Roxe Chain ecosystem is designed to\nuse two digital tools, Roxe Cash (ROC) and DO. Can you give information about\nthe technological structure and functioning between ROC and DO in a way that\nevery user can understand without going into too much technical detail? Could\nyou also summarize the financial returns to investors by holding ROC tokens?<\/strong><\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> i think here, you can share info about\nyour token as well, it’s a good question for this 😉<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong><\/p>\n\n\n\n

👍<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nYes, I will try my best. DO is the first central bank model algorithmic stable\ncoin that has an economy of itself. I have to emphasize the fact that it has an\neconomy of itself because it can be used just like the US dollar can be used in\nUS economy. So for those of you familiar with relations between central banks\nand their respective currencies, taking US for example, ROC is like US\nTreasury, and DO is like US dollar.<\/p>\n\n\n\n

So to explain in detail:<\/p>\n\n\n\n

DO (pronounced \u201cdough\u201d) is a hybrid stablecoin\ncollateralized by two assets: USD and ROC, implementing a central bank\nalgorithm, and anchored 1:1 to the USD. What I mean by that is DO has a target\nprice range of +\/- 0.5% of $1 USD. Since it is not backed by USD, it can expect\nfluctuations. The price is automatically adjusted through smart contracts on\ndecentralized exchanges (DEXs).<\/p>\n\n\n\n

The issuance of DO is entirely based on smart\ncontracts and is completely decentralized.<\/p>\n\n\n\n

On other hand, ROC, \nin addition to serving as the gas for Roxe Chain, has a close\nrelationship in value with DO. To expand on how DO is back by ROC in additional\nto USD. We first have to know one of the ways to MInt DO is by pledging ROC.\nFollowing this equation:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

This ensures the stability in value for ROC as well.\nRoxe Reserve (\u201cRR\u201d) is just a set of smart contracts that is used to reserve\nroUSD, ROC, DO, and to implement DO issuance and price stability. The number of\nreserved and pledged ROC (at the weighted average issue price) in RR should be\nno less than twice the total amount of DO that has been issued following that\nequation.<\/p>\n\n\n\n

Mary\n| Satoshi Club<\/strong>: So, it will be required for users to\nhave ROC tokens to interact with Roxe Chain, right? For transportations, for\nexample?<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nWe are still doing ROC private sale at this stage and are speaking to many\ntoken funds out there many of us here have heard of<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Can you tell us some names?😎<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nFor nodes yes, but if strictly speaking, using Roxe App is interacting with\nRoxe Chain, and you do not need ROC to use the Roxe App<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Got it👍 thank you!<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nSorry not at the moment, but we will annouce it when both parties allow and I\nwould say you guys would be hearing from us soon<\/p>\n\n\n\n

But fair question @madamlobster 😂<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Ok, i understand! We can wait a bit😂<\/p>\n\n\n\n

Q4 from Telegram user @KevSalom<\/em><\/strong><\/p>\n\n\n\n

Is Roxe really compatible with the\ntraditional financial system? How do you get my money to my bank? Aren\u2019t there\nany policies or regulations that need to be approved first?<\/strong><\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nTo answer the first part \u201cIs Roxe really compatible with the traditional\nfinancial system?\u201d, yes. By design, Roxe can be integrated very easily for\nfinancial institutions. Roxe Instant Settlement Network (RISN) clears and\nsettles each transaction in real-time. Banks, trading markets, and financial\ninstitutions can make fast, reliable, and automated clearing and settlement\nwithout intermediate service providers. We know how hard it is to educate the\ntradition market and thus we want to make the institutions comfortable, mostly\nimportantly, removing the skepticism and fear in order for them to understand\nhow powerful blockchain can be for certain applications. We offer very\nlightweight APIs to them, without them having to \u201ctouch\u201d crypto<\/p>\n\n\n\n

And to expand in detail on how we do that exactly, I\nwill answer the second part “How do you get my money to my bank?\u201d<\/p>\n\n\n\n

So I will give an example of someone sending USD to\nsomeone in HK receiving HKD, showing the example process from our whitepaper:<\/p>\n\n\n\n

 <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Through Roxe Settlement Service (RSS), the minting and\nredemption of roFIAT (roEUR, roGBP, roUSD,etc\u2026) can be done in real time. The\nfollowing criteria are followed when digitizing fiat on-chain: (1) 1:1 Full\nAsset Anchoring (2) Real-time Minting and Redemption (3) Real-time disclosure\nof on-chain mapped fiat data and bank account balance (4) Having read the audit\nthrough a trusted auditor (5) The collateral bank or trust company is compliant\nwith applicable regulations<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Will it be possible to recieve USD in HK?😂<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nIn the middle, the exchange happens in RPP which follows an AMM model.<\/p>\n\n\n\n

of course, it works the other way around as well<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> will you have any DAO mechanism or who\nwill be make decisions in your project? what better for project and what is not<\/p>\n\n\n\n

Haohan\nXu: <\/strong>Yes\nwe will:<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Will users need to pass KYC to send money\nfrom USA to HK, for example?<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nThis touches one of the previous questions regarding the relationship between\nROC and DO. At the initial project starting phase, Roxe Reserve will allocate\n100% of roUSD as a reserve. After the initial phase is over, DO will be handled\nby DAO. When RR conducts decentralized automatic issuance through smart\ncontracts, RR will reserve roUSD at no less than 80% of total DO value. As the\nRoxe economic system grows, and ROC completes 100% of its public offering, the\nexpectation is that the community will ultimately vote to revise the percentage\nof roUSD, or other asset class in the RR.<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> gotcha<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nYes of course. And that brings me to part 3 of the question “Aren\u2019t there\nany policies or regulations that need to be approved first?\u201d. Because we are\ndealing with fiat that can be spent almost everywhere, we have to make sure no\nbad actors are in the process. Banks and other financial institutions\nthemselves are compliant to local standards, in addition we follow the\ncompliance requirement from our partners and local governments.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Thank you! That’s clear😀<\/p>\n\n\n\n

Are you ready for the next question?<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nMany investors use to asked me about the issue of time and capital cost to\nachieve compliance in so many countries, we have to know that sending money is\nconsidered \u201cmoney transmitting\u201d and each country has their own regulatory\nrequirements for that. This is where our partners come in, since they are\nalready compliant in that standard<\/p>\n\n\n\n

yes<\/p>\n\n\n\n

Q5 from Telegram user @Wormz28 <\/em><\/strong><\/p>\n\n\n\n

Nowadays some Applications are offering\nCASH BACK for using their App. So in your platform, is there any EARN CASH BACK\nyou offer to your users in using the ROXE APP? If so what\u2019s the details &\nhow it works?<\/strong><\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nYes of course. I love this question and it is one of the best perks we offer to\nretail users. We can provide real time cashback up to 30% on certain\npayment\/purchases. That is all in cash in whatever currency the user is using,\nnot restricted to points or certain tokens<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> How it will work? Will it be instantly?<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nI know 30% sounds very high, but we have to acknowledge given the friction of\ntoday\u2019s payment system, if you liberate the cost these tradition insitutions\ncharge merchants in addition to the value merchants themselves are willing to\noffer for cheaper payments, you can get a lot more than the 5-10% on your\ncreditcard<\/p>\n\n\n\n

yes it will be instant. When you make a payment to a\nmerchant, you will get % back immediately<\/p>\n\n\n\n

Mary\n| Satoshi Club: <\/strong>It will be a pleasure to use an app with\nsuch cashback 😂<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> with insta cash back ☝️<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Hope to see all this to go live vey soon!<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nYes indeed, I can\u2019t wait to release the app and have people see this can be\nreal<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Sure👍<\/p>\n\n\n\n

Ready for the 6th and last question from this part?😉<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nYes<\/p>\n\n\n\n

Q6 from Telegram user @reinleoken <\/em><\/strong><\/p>\n\n\n\n

Time for each transaction is clocked at\nless than 24 hours with a transaction fee of about 1.5% from the example given\nin the site. But in the era of blockchains where using USDT TRC as an example,\ntime is less than 5 mins and the fees are way lower. I\u2019m hoping that the time\nand fee is something that you guys are working on to improve, and is your\nservice truly global like it can be found everywhere including Africa?<\/strong><\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nYes of course we are always looking for room to improve the fees. Less than 24\nhours at 1.5% for total cost is very competitive in terms of time and cost for\ninternational remittance. Due to the fact that today\u2019s payment system is\noutdated, transaction today can take up to a week to settle and cost up to 10%.\nBut overall, as soon as we get a chance to improve our speed and lower our\ncost, we will past that onto our users. And yes it is truly global. We actually\nhave lots of parnters from Africa, one of them is N2xpress whom many in the\nregion have heard of for sure. And another big region we have a lot of partners\nin is Philippines<\/p>\n\n\n\n

https:\/\/medium.com\/roxepaymentnetwork\/roxe-expands-to-africa-and-india-partners-with-n2xpress-to-launch-remittance-pilot-program-8cfe64184d51\/<\/a><\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> In which countries your services will be\navailable and which will be restricted?<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nBesides the OFAC sanctioned list countries, the service is available in all\ncountries. We have been receiving interest from and reaching out to partners\nall over<\/p>\n\n\n\n

Mary\n| Satoshi Club: <\/strong>Gotcha 👍<\/p>\n\n\n\n

Thanks for great answers!<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nOf course, thanks for the great questions!<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Ready for the live questions part?🚀<\/p>\n\n\n\n

Haohan\nXu:<\/strong>\nyes, open the gate!<\/p>\n\n\n\n

Part 2 \u2014 live questions from the Telegram community<\/strong><\/h2>\n\n\n\n

Q1 from Telegram user @surendra040<\/em><\/strong><\/p>\n\n\n\n

How do I join ROC pending private\nsale , WHY and how long will it be pending and please drop me the all\ninformation and details about it.<\/strong><\/p>\n\n\n\n

Michael Huynh: <\/strong>For\nall private sale inquiries, please contact me. Also a reminder, All sales are\nprohibited for non-accredited investors in the U.S. and restricted countries<\/p>\n\n\n\n

Q2 from Telegram user @JesusFre1tes<\/em><\/strong><\/strong><\/p>\n\n\n\n

Q: How efficient is the cross-border\npayment platform that Roxe Chain has developed? Are FIAT currencies supported\nwithin your payment protocol so that it is adaptable to the country of origin\nor destination where the payment is made? Is it possible to convert and\nexchange my crypto for FIAT and vice versa to make this type of payments?<\/strong><\/p>\n\n\n\n

Haohan Xu: <\/strong>Fairly\nefficient to meet more than the needs of average retail users. And yes to both\nquestions after. It supports roFIAT, (so roEUR, roUSD etc..) so it can support\ncurrencies from the origin and destination. And it is possible to convert\ncrypto and exchange it. One thing I want to emphasize here is that Roxe\u2019s duty\nis to enable fiat to pay more efficiently using blockchain technology, not so\nmuch enable payment for cryptocurrencies. A major problem we see here at Roxe\nis how hard it is to send value today, while we can send messages instantly.\nMany people have to eat massive cost just to send money home, and that is not\nright<\/p>\n\n\n\n

Q3 from Telegram user @attilayeni<\/em><\/strong><\/strong><\/p>\n\n\n\n

If I want to send money to my friend\nor my brother does he also need a Roxe account<\/strong>?<\/p>\n\n\n\n

Michael Huynh: <\/strong>No.\nReceivers of cross-border remittances from Roxe do not need a Roxe account. The\ncash may be deposited directly in the recipient\u2019s bank account, picked up at a\nlocal remittance partner office, and in some countries, delivered directly to\nyour doorstep.<\/p>\n\n\n\n

Q4 from Telegram user @asalas95<\/em><\/strong><\/strong><\/p>\n\n\n\n

I am very struck by the fact that DO\nis the first “central bank model algorithmic stable coin”, when one\nof the reasons that people have to venture into cryptocurrencies is to flee\nfrom the influence of central banks. I would like to know: what exactly is Roxe\nChain referring to when you say that DO follows a model similar to that of a\ncentral bank, and how do you achieve such algorithmic stability?<\/strong><\/p>\n\n\n\n

Haohan Xu: <\/strong>That\nis a very good question and the answers can get very deep. First, I want to\npoint out DO just expand and contracts in value using a method that central\nbanks use, and the rules\/metrics can be decided by the community as I mentioned\nin one of the part 1 questions. So in terms of control, it is the opposite of\nwhat central banks in some countries are trying to do. We want to measure up\nthe supply of DO propotional to the scale of Roxe, instead of over inflating\nit. So DO is the first central bank model algorithmic stable coin that has an\neconomy of itself, the emphasis is placed on having an economy of itself. ROC\nis like US Treasury, and DO is like US dollar.<\/p>\n\n\n\n

Q5 from Telegram user @mobilejii<\/em><\/strong><\/strong><\/p>\n\n\n\n

Hello! @HaohanApifiny<\/strong><\/p>\n\n\n\n

Can I do a payment from mobile  or not ? As for a beginner like me Do you\nhave any guide of how to make a payment from Roxechain network<\/strong><\/p>\n\n\n\n

Michael Huynh: <\/strong>Yes.\nWe’ll have a Roxe mobile app on both iOS and Android in development that will\nallow you to make, send and transfer payments on the go. You can view https:\/\/roxe.io\/<\/a>  and join the waitlist.<\/p>\n\n\n\n

Q6 from Telegram user @csgonub<\/em><\/strong><\/strong><\/p>\n\n\n\n

Sending money in 24 hours into the\nbank account looks promising but can’t you make it faster?<\/strong><\/p>\n\n\n\n

Haohan Xu: <\/strong>Actually,\nwe do. Cross-border transactions with Roxe are settled in minutes, and even\nseconds. Roxe Chain is purpose-built for cross-border value transfer, and Roxe\nInstant Settlement Network\u2019s smart payment routing ensures the fastest, least\nexpensive route.<\/p>\n\n\n\n

Q7 from Telegram user @warny<\/em><\/strong><\/strong><\/p>\n\n\n\n

Why is Roxe Better than Ripple for\nGlobal Payments? @LDA_Michael @HaohanApifiny @hackapreneur<\/strong><\/p>\n\n\n\n

Michael Huynh: <\/strong>Great\nquestion Ho-jin! It’s a long and complex answer but we have released an article\nabout Why Roxe is Better than Ripple for Global Payments.<\/p>\n\n\n\n

Some key points:<\/p>\n\n\n\n

* Seamless Compatibility with\nFinancial Systems<\/p>\n\n\n\n

* A More Flexible, Intermediate\nCurrency Model<\/p>\n\n\n\n

* No Foreign Exchange (FX) Loss<\/p>\n\n\n\n

* A True, Peer-to-Peer Model<\/p>\n\n\n\n

* Decentralization: More Secure and\nTransparent<\/p>\n\n\n\n

* Better Transparency<\/p>\n\n\n\n

* Lower Costs<\/p>\n\n\n\n

* Faster Throughput Speed<\/p>\n\n\n\n

* Different Product Approaches<\/p>\n\n\n\n

* Different Business Models<\/p>\n\n\n\n

* More Flexible Compliance<\/p>\n\n\n\n

You can view the article here: https:\/\/medium.com\/roxepaymentnetwork\/why-roxe-is-better-than-ripple-for-global-payments-3802ba9eeab8\/<\/a> <\/p>\n\n\n\n

Q8 from Telegram user @ubuntucoder<\/em><\/strong><\/strong><\/p>\n\n\n\n

Did you made any partnership with stores\nor restaurants?<\/strong><\/p>\n\n\n\n

Haohan Xu<\/strong>:\nGreat Question! Not yet, but please know once we start to the progress will be\nvery fast, since we will have already onboarded supernodes and normal node\npartners who are banks, central banks, payment companies, etc. These nodes are\nthe ones who dictate the transaction cost paid by merchants so we will have a\nlot of benefit that can be passed on to merchants, and then merchants can pass\nthese to their users.<\/p>\n\n\n\n

We will offer \u2018Roxe Commerce\u2019, which\nenables merchants to receive digital payments in real time.<\/p>\n\n\n\n

Roxe Commerce, which is serviced by\nRoxe Instant Settlement Network (RISN, enables online and offline merchants to\nreceive digital payments in real time \u2014 by joining the network for free and\nadding a snippet of code to their website for checkout.<\/p>\n\n\n\n

Roxe Pay users can simply use the\nRoxe-generated QR code at checkout, and your bank receives the deposit in real\ntime<\/p>\n\n\n\n

Q9 from Telegram user @araceley<\/em><\/strong><\/strong><\/p>\n\n\n\n

How is Daollar Protocol issued and\ncan it be exchanged to USD-backed stablecoin?<\/strong><\/p>\n\n\n\n

Haohan Xu: <\/strong>Based\non the Daollar protocol and the RR, there will be issues of doFIAT like doKRW,doJPY, etc Those stablecoin can be exchanged to roUSD at international\nmarket FXrate through an oracle. You can read in the whitepaper about\nhow the exchange works and how it prevents slippage in the AMM model during the\nexchange.<\/p>\n\n\n\n

Q10  from Telegram user @poorweirdokid<\/em><\/strong><\/strong><\/p>\n\n\n\n

@HaohanApifiny  Could you please tell me about the ROC usecase\n. What benefits will be for the long term holders of ROC?<\/strong><\/p>\n\n\n\n

Michael Huynh: <\/strong>Sure!  A key function of ROC is to provide a\nconvenient and secure method of payment and settlement for participants on Roxe\nChain. ROC runs on Roxe Payment Protocol (\u201cRPP\u201d), an open, peer-to-peer\npayments protocol that enables any person, business, payment platform, or bank\nto make instant, low-cost cross-border payments. RPP is powered by an automated\nmarket maker (AMM) on a smart contract that executes automatic transactions\nbetween digital tokens. Instead of a traditional order book, RPP uses AMM pools\nto provide liquidity for faster, more reliable, and less expensive payment\nsettlement. RPP is built on Roxe Chain, a hybrid blockchain purpose-built for\npayments.<\/p>\n\n\n\n

A few takeaway points:<\/p>\n\n\n\n

* An intermediate currency that can\nbe quickly exchanged with foreign currencies.<\/p>\n\n\n\n

* A universal currency for global\npayments that can be exchanged in real-time.<\/p>\n\n\n\n

* As a payment and intermediate\ncurrency on the Roxe global payment network, including payments of deposits or\nfees to use the Roxe network.<\/p>\n\n\n\n

* As a VIP token, required to access\n\u201cVIP services\u201d in the Roxe payment network, or as a payment of a deposit or fee\nto use the Roxe network.<\/p>\n\n\n\n

You can view the full article here: https:\/\/medium.com\/roxechain\/use-cases-why-roc-is-a-valuable-utility-token-a13d656a15e8\/<\/a> <\/p>\n\n\n\n

For\nmore information and future AMAs, join our Social Media channels:<\/strong><\/p>\n\n\n\n

English Telegram group: https:\/\/t.me\/Satoshi_club\/<\/a> <\/p>\n\n\n\n

Russian Telegram group: https:\/\/t.me\/satoshi_club_ru\/<\/a> <\/p>\n\n\n\n

Spanish Telegram group: https:\/\/t.me\/satoshi_club_spanish\/<\/a> <\/p>\n\n\n\n

Telegram Channel: https:\/\/t.me\/satoshi_club_channel\/<\/a> <\/p>\n\n\n\n

Twitter: https:\/\/twitter.com\/realsatoshiclub\/<\/a> <\/p>\n\n\n\n

Website: https:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n

Our partners:<\/strong><\/p>\n\n\n\n

Telegram: https:\/\/t.me\/roxechainglobal\/<\/a> <\/p>\n\n\n\n

Twitter: https:\/\/twitter.com\/RoxeChain\/<\/a>\n  <\/p>\n","protected":false},"excerpt":{"rendered":"

Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Roxe Chain. Roxe Chain is a global payment network that allows businesses, banks, cross-border remittance companies, and third-party payment platforms to interconnect with each other and make instant, low cost, […]<\/p>\n","protected":false},"author":66,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/5327"}],"collection":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/comments?post=5327"}],"version-history":[{"count":3,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/5327\/revisions"}],"predecessor-version":[{"id":5333,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/5327\/revisions\/5333"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=5327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=5327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=5327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}