Hello, My name is Daniel Drury, Co-Founder & CEO of Kuverit Ireland Limited.
I would like to take an opportunity to share some information with you about our exciting and game changing blockchain project; Kuverit.
What you choose to do with the information is of course entirely up to you, read our Old whitepaper HERE the new one that is being developed will be shared with you all soon.
The next 10-15 minutes will probably make this one of the most profitable letters that you have ever read, so I would like to suggest that you take the time to read this page in full and absorb the information carefully.
What I am about to do is unprecedented in the crypto space and I probably won’t be well liked for it. However, when you begin to understand our vision and our story to date you will see clearly just why I have decided to step outside the boundaries of the so-called “protocols” and do our own thing.
Our core objective is to protect consumers from financial loss.
I need you to remember this because it will help you understand why we refuse to follow the crowd and their fundamentally flawed way of doing things. To be honest, you are only reading this information because of my unwillingness to follow an unethical system; because that system goes completely against what we are setting out to achieve.
I will try not to make this article too long but, in all honesty, you cannot fit the potential of what I am about to share with you on a postage stamp.
Let me start by giving you some details of who we are:
What is Kuverit?
Kuverit will be the world’s first “Guarantee Trading Platform” designed to eradicate the risk of financial loss from P2P Fraud and Scams.
Users can apply to the Guarantor marketplace and request a guarantee that protects the outcome of any form of financial transaction.
Having work done on your car but don’t trust the mechanic?
Taking on a new tenant and want to cover the rent payments?
Transacting crypto with someone you don’t know on the internet?
These are all examples of financial transactions for which a guarantee can be sought; but the real-world use cases for a “Kuverit Guarantee” are endless!
What problem are we trying to solve?
Let me throw some statistics your way:
In 2017 more than 4 million UK consumers were the victim of some form of fraud or scam. To put that into context, that means an average of more than 11,000 people were defrauded or scammed PER DAY (or to be more precise, 7 people per minute); and that was just in the UK only!
If we assume similar statistics across the 39 developed countries in the world, we have an estimated victim count of 156 Million consumers per year. If we go one step further and backdate those figures 5 years, you are looking at 780 million victims in the last 5 years.
If you estimate an average loss per victim of $500, this means that fraudsters and scammers have potentially conned unsuspecting consumers out of more than $390 billion in the last 5 years; that’s around $78 billion annually.
P2P Fraud is not just a problem; it is an EPIDEMIC; and it is getting worse every year.
More alarming than these stats themselves is that there is not one single, viable solution in the world today that is available to protect consumers from this ever-growing risk of being defrauded or scammed.
Protection against financial loss is not readily available. Even the multi-multi-billion-dollar insurance industry does not provide a product that protects you against the unfavourable outcome of a financial transaction.
Kuverit will be first to market with an easily accessible target user base of 780 Million +
How do we propose to solve this massive problem?
The idea behind the Kuverit market place is simple; if you want to eliminate uncertainty and risk from a financial transaction with a third party, simply request a guarantee from someone who is willing to take that risk for you.
A token staker (or Guarantor) will assess the reputation of you and the third party and if they are happy with the reputational scoring of both parties, they will guarantee the transaction for a fee. If your transaction goes badly and you sustain a financial loss, you make a claim against the guarantor. It really is that simple!
We believe that our pioneering, innovative solution will be the ONLY viable solution to consumer transactional loss. Where there is uncertainty, there is risk; where there is no risk there is peace of mind.
We like to say we are building the “Amazon” of guarantees.
We are not reinventing the wheel here, global consumers are already accustomed to transacting business based on reputation. Just look at the Amazon and eBay feedback systems. Kuverit’s marketplace will follow the same principals, with the exception that members will be trading guarantees instead of products.
Let me ask you something; what would a marketplace that can protect consumers from up to $10 Trillion in financial losses be worth?
Where are we at?
Now that you understand the enormity of what we are going to achieve let me now explain WHY we are going against standard token sale protocols. I will then move on to explain our current position.
In all honesty, I believe our problems began when we realised that blockchain and smart contracts were needed for the Kuverit marketplace to function effectively.
Some people call the Crypto Space the Wild West. Not me. If you asked me to describe the crypto space in one word that word would be HELL.
In the last 18 months I have spoken to more scammers and fraudsters than I have in my entire life; that is a fact! In a way, it is a good thing because it just reinforces another use case for the Kuverit market place; protecting crypto transactions from financial losses.
However, it has made me realise that the entire token sales model goes against our very ethos. Our objective is to build a guarantee trading marketplace that protects consumers from financial losses caused by unethical or deceptive behaviour from a third party.
This is where I will probably become unpopular in the Blockchain and crypto space but I am going to say it anyway.
The entire token sale space is a cesspit of lies, hype and false promises, where 9 out of 10 people are pretending to be something they are not for their own financial gain.
I have spent the best part of 2019 speaking with prospective private investors and I turned down every single offer.
Why? Because they wanted 40% equity in the company and had unreasonable expectations, just another example of the greed driven commercialist society we have become. Clearly no one had told these private investors that blockchain projects are supposed to be decentralised?
You see, unlike most projects we refused to do a Private Presale. A Private Presale is where many token sales begin and, in my opinion, it is also where they sign their own death warrant.
A Private Presale is all about getting in as low as you can and getting out as high and as quickly as you can.
Private Presale Buyers secure tokens at prices up to 90% less than the main ICO buyers and dump them as soon as they are listed on the exchanges. Each single time this happens, the token value drops dramatically.
The people running the ICO’s and token sales know this. They agree to it. ICO’s are just publicly promoted “pump and dumps”. So as far as I am concerned, they are deliberately deceiving the underdog.
If Kuverit is a project designed to protect consumers from financial loss, then how can we knowingly follow a flawed private presale model that we know will result in smaller investors losing money?
It goes against our entire ethos and following the so-called way of doing things would strip us of any credibility moving forward.
To protect the integrity of the brand and remain ethical we refused to do a Private presale, at least not to fat cat crypto elite who have no interest in the projects fruition.
We decided to favour the underdog!
Some say this is a bad move, but I don’t agree.
Don’t get me wrong, when we first started this project, we promised our seed investors that we would take the project to ICO, so we delivered on that promise.
In the lead up to the ICO the market changed almost overnight and our consultants advised us to cancel the ICO. To deliver on our promise to seed investors though we launched the ICO anyway, but we literally didn’t promote it because it would have been like throwing fuel on a fire.
98% of ICO token sales failed by design, they are nothing more than money grab scams and by the time we launched our ICO the speculator community had become justifiably angry and sceptical towards all ICO projects.
We decided (under advice) to let the ICO pass unsuccessfully rather than advertising it in a very negative marketplace and risk potential negative press as “another failed ICO” and we are very glad we took the advice.
So, where are we at now as a project?
Well, I am glad to say we are in a much better position than most and I think this can be attributed to two things. Firstly, the decisions that we made and secondly the fact that our project is superior to most blockchain projects with a real mainstream use case and large mainstream target market.
I am sure many of you are curious to know where we are at so I will summarise our current position in bullet points below before explaining why we have opted to step outside the box and do our private sale through “ethical chain mail” promotion and allow average speculator participation.
I assure you that there is a legitimate method in what some might perceive as madness (ironically, we think we are the only sane ones!)
Current Project Position
We have secured the support of a top blockchain consultancy firm who are currently revamping all our material to bring it up to par with the concept and other top performers in the blockchain space. A new improved whitepaper, website and pitch deck are in development. We decided this was best for our brand image especially as we are moving towards the next steps in our development.
We have our first token listing on a top ten exchange scheduled at the end of August 2019, with market maker services already planned and approved. This listing should go ahead without interruption. I cannot name the exchange at this stage as it is a condition of their contract that our collaboration is not disclosed before they announce it to their members.
We applied to a “Top 3” crypto exchange and were accepted for an IEO. However, at this stage we have decided it would not be productive enough to allocate the required $2,000,000 to their Market Maker team with IEO’s being relatively new. Whilst this has been put on hold the contract is on the table ready for us to take the next step.
We have another 3 IEO’s approved on somewhat smaller exchanges but we have taken great care to select them to ensure that their volumes and user base are legitimate. These contracts are simply awaiting dates and signatures. Once the new material is ready (see point 1 above) we will schedule dates for these IEO’s.
Again, I am not able to openly name these exchanges due to contractual restrictions.
Our project is happy to have secured the endorsement of one of the previous Tezos foundation team members Mr Guido Schmitz, who has kindly come on-board as an advisor to the project.
The listing price on the first exchange will be $0.008 – following this market maker services will aim to either sustain or improve the value and any IEO or listing following this will be at the market price. We estimate a token price of $0.05 within 6 months of the market place going live as we will not be releasing the total supply into circulation until the marketplace growth dictates it.
The development team are currently working on our MVP and we estimate this to be live in around 4 months from now. As with all blockchain projects this as an estimated delivery date because, as you know, things can and often do change quickly when developing projects of this size.
We are also happy to state that we have engaged the services of a fully licensed brokerage to act as somewhat of an escrow for all contributors. This brokerage will collect and manage all funds and will only release them when deemed to be for a legitimate business expense for the development of the marketplace. No funding will be released to Kuverit Ireland Limited until the marketplace is live and out of Beta phase. This has been to increase contributor confidence in the overall project.
Now for the important part, why are we breaking all the rules and networking a Private Sale through Chain Mail?
Networking is one of the most efficient and effective business development strategies in the world!
When Kuverit is live, we need a large and engaged user base; I do not think VC’s qualify. Chain mails although old fashioned will quietly drop our message into the inboxes of millions of consumers and entrepreneurs globally while remaining somewhat private and offline.
Kuverit will have a unique “Totally FREE” Multi Level Affiliate Reward system to encourage exponential growth of the network. Quite simply, only networkers understand this structure and we feel it is important to start building that network now.
We feel it makes sense having thousands of smaller investors, rather than larger VC’s, to help us sustain a healthy token price. This will reduce the volume of dumping on the exchanges and makes it easier for market makers to sustain or improve the token price
As I have mentioned above, you are under no obligation to participate in our Private Sale. Just simply sharing this information will qualify you for 100 chances to win 5 Million KUV tokens, however if you are in a financial position to do so I would strongly recommend that you consider the Private Sale potential.
The minimum purchase is just $250, with a Private Sale purchase price of $0.001.
Given that the token price upon listing on the first exchange at the end of August has already been agreed at $0.008 you are already looking at a potential 700% profit immediately.
Whilst your tokens are yours to do with whatever you please, we would encourage token holders to retain their tokens for at least 3 months. We aim to encourage positive movement of the token price towards and possibly beyond $0.05 (through strict token distribution control) achieving our desired price; but as I say, it is your personal choice.
Just to be clear, we do not actually “need” to do this private sale. We have already been funded by a group of 200 seed investors and everything is progressing as explained above.
However, a considerable number of these seed investors have demanded some form of private sale because they assumed it would be part of our plan and they wanted to share it with their networks.
Our agenda is to build the foundation network that will take Kuverit to the global mainstream market once it comes online. Thus, we thought it would be a good idea to give the average speculator an opportunity to earn like the fat cat crypto elite do for a change.
If you do wish to participate in the Private Sale, please note:
The interests of those who do participate are protected by the Brokerage agreement, meaning the company cannot spend funding on anything but the business development.
All Private Sale purchasers will be invited to a private Facebook group with me so I can keep you up to date on all developments moving forward. I will also be available for weekly webinars if anyone needs me.
Although it will be unsubstantial, I am unable to divulge how many tokens will be sold during this Private Sale event. I can assure you that There is a very legitimate reason behind this non-disclosure. The number of tokens sold will be made public after the upcoming exchange listings and IEO’s.
I also need to inform you that we reserve the right to end the Private Sale event without notice.
As I have explained a new and much more professional whitepaper is being developed by a top consultancy and design firm and should be available for release in the next week or so. For those of you who want to get a better understand of how the Kuverit marketplace will function you can read our initial whitepaper here.
Please note that we recently engaged one of the top global development teams in the world and because of this the tech specification of the platform shown in this paper has changed significantly.
So, there you have it.
I appreciate it was a little long but as you can see networking is a very good fit for Kuverit and we plan to leverage it to its maximum potential.
What you choose to do now is up to you, I can only offer my thoughts on what I would do if I were in your position.
If you are in a financial position to do so, then I would encourage you to take part in the private sale you can do so by registering or logging in above.
Whatever you decide to do, I wish you every success for the future and I hope that one day the Kuverit marketplace will protect you, your family and your friends against the dangers of financial loss inflicted by fraudsters and scammers.
CEO Kuverit Ireland Limited.