GAUGECASH’s AMA at Telegram channel
Held on Feb 28th, 2022
GAUGECASH Chat: Hello, Everyone. Welcome to AMA with our Founder. Manuel is going to start answering some questions he received earlier.
Link sensation: Hello
Zach P: Hi Manuel, we really appreciate the updates!
Manuel Blanco: Hi everyone. I hope you are all doing great.
I will just ask you a huge favor. Once a question is made, let me finish the answer as I am on a desktop to answer faster. But I cannot take the question and answer if there are tons. So let’s go one at a time.
So ill start with some that were sent to us.
Q: Could you elaborate on a potential use case for Central Banks?
I believe that Gaugecash could support the tendency of central banks to create their own stablecoins. One might say that by 2030 our fiat money will be replaced by stablecoins.
Q: How do you see gaugecash fit into this development?
A: Well, I am not sure it is accurate to believe Central Banks will use stable coins. The reason is scalability and the business banking around their specific countries, employments, and so on. Centralized Digital Transactions have been long used now and could be more efficient for them than to use crypto tech. That is basically what XRP has been trying to sell for years.
But what I mean, for GAUGECASH is quite irrelevant as we are a true departure of central banking, so people have a much better option than the one offered by their country. On the other hand, what I have thought is work with governments in other huge problem wich is taxation transparency, and so on. Actually, in 2020 we made a consultancy for the UN on such topics. As GAUGECASH scales with want to provide new ways of implementing public policy that crypto tech allows never seen before.
Q: Is there a concrete time planning for the new white paper?
A: Not really. I’ll take some time if I have after we deploy the GAUGECASH Services; I believe it is better to implement than to write. Especially with the war that just started and people are in much need of the service.
Q: In what way will gaugecash benefit from the connection to AAVE and Compound? Will it bring more use cases? Will it bring more GAU volume? Will it bring in more investors? What implications do you see for the value development of GAUF in this regard?
A: Right now is just at the back end tech for dealing with the management between GAUGECASH and GAUGEFIELD. It has to do with the automatization of some processes, especially at this stage when we start releasing the services. To give you a glimpse. For automating hedging for corporations or bringing the first staking yields for GAUGEFIELD. Stuff like that.
Brian: I’m very interested in the 35 currencies that are going to be used as the index. Was rereading the white paper, and it mentions 35 currencies as an index. I was wondering what they are. The charts section only has a few examples.
Manuel Blanco: Let me expand. For the index, we took all the currencies that are traded in the open Forex Markets. There are some cases in which a country is just pegged to the dollar or controls pretty much the value. For example, the Arab Emirates, such as Dubai, are just pegged to the dollar, so no discovering price occurs and does not reflect andy Central Policy Making.
We wanted to represent the world. But the most stable and most traded currencies are the majors: USD, EUR, CHF, GBP, JPY AUD, CAD.
Meaning their Central Banks have managed the best their Purchase Power. That’s why in Charts, which just compare GAUGECASH to them cause if we are better than those, we are much better than the rest.
Still, the mathematical part of the index has a very cool feature in which even with zero value coming from the world, meaning hyperinflations everywhere, the index converges to a stable value still good for pricing goods and services.
This is very unlikely to happen but having all this basket makes it more global and pretty much untempered for the decades to come.
Luke dimech Dimo: You will definitely be strong in the AUD sector… Australia will definitely store 50–60% of their savings in gaugecash with no hesitation whatsoever… I’m so excited for the gaugecash wallet where I can send and store my funds in gau$… What month do you think will be ready for us to do this?
Manuel Blanco: Hi Luke. Hopefully, by June will have the GAUGECASH Wallet; it can be before as we are working on it already.
Link sensation: How exactly will gauf be decentralized?
Manuel Blanco: GAUF is decentralized because it will be just wrapping a decentralized asset. For example, ETH in certain amounts for the scarcity model issuance to move the price up when GAUGECASH Volume is measurable. The other aspect is that it will make the pool public as we advance, so it will be pretty cool. It would be like knowing in real-time what are the printing decisions for a Central Banks regarding GDP, but in this case, based on what is called a hard monetary system, so is volume against locking a scarce decentralized asset
Hujmx: Token sales are almost stagnant at this stage. Is it a project problem or a marketing problem? With such sales progress, it is almost impossible for the token to be listed and traded. Is there any plan for the next step of marketing?
Manuel Blanco: Hi hujmx, great question. I wanted to address this topic. We have data that shows people/traders/investors are less prone to invest as the market is down. It happened last year during summer. And takes off with a bullish market. We are very careful with marketing cause most of the marketers are not trustworthy in this space, especially with good projects. Right now, we are concentrated on bringing the first products, and marketing will come later, as the product will start to speak for itself and marketing can become much more productive.
To make the last comment on marketing; with most of them, there is a conflict of interest between what they want to sell us and what with really need, so again, we have some great partners like the Founder of Coincodex, Coincheckup, and others, but must of them are just crap.
Link sensation: Who controls the network? On the website, it says the first decentralized network. Can you please explain that a little bit, please?
Manuel Blanco: Hi Link. Sorry, where on the website. Can you copy-paste?
Link sensation: Sorry. My bad first, decentralized Monetary system, can please explain it in simplistic terms. Just for those that may not understand?
Manuel Blanco: Sure, Link, I was thinking that we didn’t have a big wording mistake on our website.
Well, a Monetary System goes ranges from, let’s say three kinds: hardcore systems, reserve systems, and open markets systems.
Hardcore is when the system is pegged completely to something, for example, gold, but historically can be other commodities or entities.
Reserve is what most Central Banks use today, which is based in a combination of GDP, more abstractly, productivity, or the capacity to pay the debt, and having some reserve currencies such as dollar, euros, or gold in the modern era, but this is just % compared to GDP.
This one is a new breed cause it uses decentralized assets, but it can be thought of as a hard monetary system pegged to the whole new blockchain class, which is pretty cool,
Hujmx: When are the first products expected?
Zach P: Is there anything specific we can do as investors to help you and the project out Manuel? Other than telling people we know and spreading the word where we can of course.
Manuel Blanco: Hi Zach. It depends on who you are: if you have the power word of Elon Musk, just tweet us, please hahaha. I believe, for now, not much; when the product is out, learn to use it and share the word.
Zach P: Lol sounds good, if I had a following I would tell people. Sadly I’m no one important as of now.
Link sensation: [In reply to Zach P] What’s your Twitter handle, we gauf members should all follow each other and help build this community?
Zach P: Would just love to help as much as possible
Zach P: [In reply to Link sensation] @CryptoZach71 Follow me on there and let’s post what we can. That goes with everyone, let’s spread the word on Twitter.
Manuel Blanco: Thanks, Zach, I really appreciate it, but we are very close to being self-reinforcing ourselves as the product is just out of the charts.
Pedro Inácio: Hi Manuel, is there any plan for Gaugecash to become a DAO in the future, will any project decisions be delegated to the community?
Manuel Blanco: Hi Pedro. DAO, it could be, that will depend and how many processes we can automate as the immutability of blockchain make it expensive to do so, but more tech is coming out. And the community taking decisions, not really in the short and mid-term as it would be like asking the community to run telemetry of a Ferrari, and that’s not a good idea.
Luke dimech Dimo: 💯…. I know exactly how it works… That’s why I’m super excited… Massive corporate companies will use gaugecash and do so for a very long time.
Akash Dubey: Where will the gaugecash HQ located?
Manuel Blanco: Hi Akash. Probably Switzerland, although the UK wants us there pretty bad but we will see. Not sure yet.
Hujmx: How many people are there in the project team?
Manuel Blanco: Hujmx, we are around 20 people.
Link sensation: We missed you on tequila day, Manuel, lol just playing. There’s next year but we do it with a bang 😂 thank you for answering my questions. I’m so excited for what’s to come, 🤯
Manuel Blanco: Sorry guys, but I hope you had some at my “salud” haha
Zach P: Manuel, are there any more partnerships in the works that we don’t know about? Or any new developments?
Manuel Blanco: Yes, Zach, but I will disclosure them as they become more real sore to speak; Avalanche and Solana will test their tech at the end of the year. There is an event in Austin in June. We are talking to Coinbase will let you know about that one. And TrustSwap, I am having a follow meeting this Wednesday.
Zach P: Great news!
Akash Dubey: Can we expect such AMAs on the 1st of every month? The points of development which u have mentioned can all be assessed on a monthly basis.
Manuel Blanco: Akash, updates, and AMA will be scheduled weekly depending on my workload, but yes, you will hear from me every week.
But my team is here all the time.
Another invite for you all: We will be disclosing new videos on how to buy GAUF and GAUGECASH when released. When we have newcomers, you can help us guide them towards them, so they don’t have trouble.
Luke dimech Dimo: Buy gaugecash? You mean swap currencies to gaugecash.
Manuel Blanco: Yes Luke.
Link sensation: [In reply to Manuel Blanco] Sounds good sir, I’ll do what I can
Manuel Blanco: Any other question? I’ll ask my team to post this AMA in our Blog, so you can read it at another time.
Link sensation: Next year tequila day in Mexico 🇲🇽
Manuel Blanco: Of course.
Link sensation: [In reply to Manuel Blanco] I have a plan
Hujmx: The most important thing is to sell the tokens. I hope you can strengthen marketing. Publish more in mainstream media.
Manuel Blanco: They will hujmx.
Zach P: Thank you again, Manuel, it really gives us more hope and optimism when you update us like this.
Manuel Blanco: Thanks to you, I got to go. Stay Safe, and I’ll see you around!
Link sensation: [In reply to Manuel Blanco] Have a great night
Zach P: We also appreciate the hard work of you and the team!
Manuel Blanco: Thanks.
GAUGECASH Chat: Thank you, everyone. Have a great morning, evening, night wherever you are. Stay safe.