We appreciate community members efforts to dig deep in crypto space, to find things that are not clear to them. Cashaa is committed to learn from the community and is happy to answer any genuine concerns.
This morning we have received a set of questions, which I think I should answer personally.
Below is the unedited text written by one of the new community members. All the answers are in BOLD.
Hi so after spending hours foing research on this project and website and browsing the platform I have the following to clarify😛
1) it states on the website your platforms allow me deposits many multiple cryptocurrencies, however I am led to believe this is a false and statement.
Btc/eth/gbp/euro/ and cashaa are the only ones available for deposit. That’s 3 cryptocurrencies and 2 fiat currencies only.
(Far less than the 15 and more stated as per the website)
Cashaa is in continuous development, new cryptocurrencies will be added as per roadmap. Please visit the roadmap. We have still to make personal accounts live with many features.
The website did not mention 15 or more. The image of existing cryptocurrencies is the indicative purpose and will come as per roadmap.
The website does highlight that users can deposit as many as local currencies through SWIFT from multiple (200) countries and fund their GBP and EURO wallet. The same is true for withdrawals. Please login into your account to follow the steps to deposit any local currencies.
Cashaa’s Medium article published on 7th May also explained the deposit and withdrawal process.
2) I am disappointed to have further stumble upon the following statement, “Exclusive partnership with Kraken, Coinbase and many other popular exchanges”
I have reached out to coinbase and have received an affirmative NO and decline of any sort of exclusive partnerships,
I have further been adviced to steer away from any project that promises any sort of promises of such exclusive partnerships- as all partnerships would be clearly be mentioned by the respected exchanges! — both on Twitter and on the platform itself (So further alarm bells!)
Cashaa is not an exchange. We are linked with liquidity providers through API to provide exchange services to our users. This partnership cannot be mistaken or taken for more than liquidity providers. The text is written clearly in the exchange section to not give any wrong impression of listing or otherwise. However to make users clear we take this constructive suggestion and will change the wording, “Exclusive partnership” to “Liquidity partnership”.
3) Bernard Lietaer after much research I have found him to be deceased, so not why it is appearing on the website as a current strategic adviser.
New users do not need to do “much research” to find that Mr. Bernard is no more. It’s listed clearly on the website. His picture is grey-scaled to value his past contributions given to Cashaa. Also, the news was given through our social media and a detailed article on Medium on 8th Feb.
> https://medium.com/cashaa/dr-bernard-lietaer-our-strategic-advisor-has-passed-away-e27ed79822f8
Also John Henry Clippinger- there is absolutely no links to bd found by both visiting his website, Twitter and LinkedIn page. Theres literally zero connection to be found.
Why is John Henry Clippinger listed?
Mr. John Henry Clippinger clearly listed Cashaa in his job profile on Linked.
> https://www.linkedin.com/in/john-henry-clippinger-5ab1b/
4) populous world and crowd machine.. there are mentions from the official cashaa reddit that there are proud partnerships made with the above two respective companies.
Upon reaching both the telegram groups as well as members of the core team — such as executive director of populous world- Steve Nico Williams. I am confident that no such partnerships exist and there is nothing set for the future either.
So why in that case has this been showcased as some sort of a major partnership and breakthrough?
We respect your confidence, please find the Medium link published by Populous World about the partnership with Cashaa.
> https://medium.com/populous-world/populous-world-partners-up-with-cashaa-98700f288620
5) On the website, under the heading ‘Legal and Security Documents’ under sub heading ‘Risk Warning’ it is beyond belief that that this whole 1 page has been literally copied and pasted.
It mentions nothing, not even the word cashaa.. it is as if someone copies it from the bitcoin website. Shockingly amateurish
Risk Warning page is purposely to warn users about risk associated with Bitcoin also used to refer all cryptocurrencies. As a crypto and fiat banking platform, we have features, as well as risk, that is related to Bitcoin. This page is not for risk associated with dealing Bitcoin from Cashaa BUT PURELY RISK ASSOCIATED WITH BITCOIN (CRYPTOCURRENCIES).
6) Cashaa Technologies Ltd, the name that is used throughout the website.. referred to as Cashaa.
This company has a company registration number of: 11644308
Cashaa Technologies Ltd is an active company incorporated on 26 October 2018 with the registered office located in London, Greater London. Cashaa Technologies Ltd has been running for 7 months. (Details provided by companies house)
What is this company? And how comes it has only been formed 7 months ago?
This made me dig deeper and to my surprise I found the following company.
Cashaa Ltd is an active company incorporated on 24 June 2016 with the registered office located in London, Greater London. Cashaa Ltd has been running for 2 years 11 months — company registration number: 10250869
Why is the older and more established company not being used and being addressed too as per the website and per the contracts with its investors?
Sad to say but I am very suspicious of this and this only makes me assume this has well orchestrated as a means of when a company wants to swindle money from company A to company B. And easier to close B at anytime.
If I search litecoin or ripple (or any project for that matter) the companies would not be set up in such a way. Unless there is reason to believe that the company in question has other motives.
Also to note that both company credit scores are “poor” as noted by Equifax which is the company credit checking company. Another very bad sign.
In light of all the above I will stay far away from this project, and would like to reiterate that all this information can be found by yourself too, as it is public and I have merely done my own due diligence and dugged deep into this project as adviced by one of your administrators, namely Jason.
Cashaa services are delivered by Cashaa Holdings formed in Sep 2017, clearly mentioned in the Terms of Use.
> https://cashaa.com/term-condition
Cashaa Holdings is the issuer of CAS tokens and is clearly mentioned in all the documents and websites.
Cashaa Technologies is formed to establish Banking relationships and all banking related processes such as Payment Gateway to process the card, Euro deposits, etc.
Cashaa Ltd is a fully owned subsidiary of Cashaa Holdings, who is the owner of the Cashaa P2P product released in June 2016.
There is much more material available about it. The P2P money transfer product was discontinued, as Cashaa envisioned to become a full crypto banking solution with the Whitepaper published in Sept 2017.
I wish you all the very best but this project has too many red flags and alarm bells.
Thank you all for taking the time to read this.
I also request users to do their own due diligence to avoid FUD’s caused by individuals who may have their own agenda, eventually from competitors. We have the Helpdesk section to support anything related to the product.
Our team is working hard to bring a crypto friendly banking system to the world. Instead of believing in FUD try the product by yourself. We are very focused on Business banking services for this quarter and we are soon going to launch very attractive referral systems for individuals to help more businesses to get banked through Cashaa.
Stay tuned, we appreciate your support.
