Frequently Asked Questions

If you can’t find the answers to your questions below, please do contact us.

Coin Sale FAQ

What is UKasii?

UKasii (pronounced "You-Kashee") is a cryptocurrency based consumer “cash-back” program.

UKasii is made up of two elements: the UKasii Coin and the Kasii Token.

Kasii Tokens are earned as “cash-back” for spending money on goods and services at UKasii Partner establishments. All customers will need to do, is show the UKasii Partner their unique UKasii QR Code from their mobile phone at the point of payment.

When will the UKasii program launch?

We aim to launch UKasii with our first partner(s) in Quarter 2 2019.

How can I purchase UKasii Coin?

UKasii will be available for purchase during the UKasii ICO, the details of which will be shared on this website in the coming weeks. Please check back regularly or join our Whiltelist to receive updates.

After the ICO, UKasii Coin will be able to be purchased from cryptocurrency exchange platforms, the details of which will be shared after launch.

UKasii Coin can also be obtained in exchange for Kasii Tokens at a preferential rate (to be decided) for as long as there is UKasii Coin in the reserve. Once the reserve is depleted this will no longer be possible and UKasii Coin will only be available for purchase on cryptocurrency exchanges at the market rate..

Will there be discounts for early investors?

Investors at Pre-ICO will be offered UKasii Coin at 67% discount against Round 1 investors and 75% discount against Round 2 investors. For more details, you may also wish to read our White Paper or visit our ICO page.

What is your Bonus Scheme for investors?

For detail of our Bonus Scheme for investors, please refer to our ICO page.

What will be the minimum investment level?

The minimum investment amount will be set at $25.

What is the ICO Minimum Target?

$1.7 Million

Is there a Hard Cap on the UKasii ICO?

Yes. The hard cap is $7 Million.

What is the maximum amount of Ukasii Coin that will ever be issued?

500 Million. For more details, you may also wish to read our White Paper or visit our ICO page.

How did you decide the UKasii issue price?

Two key considerations drove the decision on price. Future profits for the investors and to reach as many small investors as possible from every level of society, taking into consideration the market(s) we will serve. This is why the minimum investment was set fairly low ($25), and the one time incentive to exchange up to 50% of the UKasii Coin value into spendable Kasii Tokens at UKasii partners has been offered; to present immediate value to all investors.

How much UKasii Coin will be owned by the founders? Is there a vesting schedule?

25 million UKasii will be held by the UKasii founder shareholders. Founder shareholders will not be able to divest their UKasii Coin for two years from the date of issue. For more details, you may also wish to read our White Paper.

How does UKasii score under the Howey Test?

Ukasii is rated as 40 under the Howey Test, "Equally likely and unlikely to be a security".

However it should be noted that while it is important to have (and we do believe in the necessity of having) such a test for Coins and Tokens, the Howey test has not yet been directly applied by any courts to any digital currency or blockchain token. Morevoer the Howey test as applied by the courts does not involve any points-based calculation.

The points system is intended as a guide - to highlight the characteristics of a Token / Coin which are relevant to securities law analysis.

Can UKasii Coin be exchanged for cash?

Yes. UKasii coin will eventually be able to be exchanged for cash (or other cryptocurrencies) via cryptocurrency exchanges, details of which will be made available very soon.

Can UKasii Coin be exchanged for other cryptocurrency?

Yes. UKasii coin will eventually be able to be exchanged for cash (or other cryptocurrencies) via cryptocurrency exchanges, details of which will be made available very soon.

Can UKasii Coin be exchanged for Kasii?

No. This is not possible. However, investors in the UKasii Coin, during the ICO only, will have the one time option to exchange up to 50% of their UKasii Coin into Kasii Tokens for future use at UKasii Partners.

Can Kasii Tokens be exchanged for UKasii Coin?

Yes. UKasii Coin can be obtained in exchange for Kasii Tokens, at a preferential rate (to be decided) for as long as there is UKasii Coin in the reserve. Once the reserve is depleted this will no longer be possible and UKasii Coin will only be available for purchase on cryptocurrency exchanges at the market rate.

Can Kasii Tokens be spent in other countries?

This will eventually be possible once agreements are made with potential UKasii Partners from other countries.

Can Kasii Tokens be exchanged for other cryptocurrency?

No. Kasii can only be spent, like cash, at UKasii Partner establishments or exchanged for UKasii Coin.

UKasii coin will eventually be able to be exchanged for cash (or other cryptocurrencies) via cryptocurrency exchanges, details of which will be made available very soon.

UKasii Coin can be obtained in exchange for 100 Kasii Tokens via the UKasii Mobile app, which is under development.

Will there be any other benefits for those holding UKasii Coin?

Yes. We will be introducing very exclusive benefits for those that “Hodl” (Hold) UKasii coin as part of the UKasii program.

How much customer data is shared with UKasii Partners?

Customer identity will remain completely private. UKasii Partners will have access to transactional data but not to whom it belongs to. UKasii Partners will be able to send promotions and campaigns based on this information, if a customer consents to receive promotional messages.

However, customers will be able to reveal more information about themselves to UKasii Partners if they wish, in exchange for additional Kasii or promotional goods and services.

Where can the UKasii App be downloaded?

The UKasii App will be available from the Google Play Store and Apple App Store. Details will be made available very soon. We’ll keep you updated and inform you when the app will be launched if you complete the form here.

Who can become a UKasii Partner?

Any business that wishes to offer cash-back to its customers can become a UKasii Partner.

Will UKasii expand to countries outside Africa?

Our immediate short / medium term focus is, beginning with Nigeria, the Central / Sub-Saharan Africa region. However, depending on the growth and acceptance of UKasii by customers and UKasii Partners alike, establishing UKasii in other regions and continents is of course something we are aiming to do.

What will happen to investors capital if the ICO is unsuccessful?

In the event the ICO minimum target of $1.7 Million is not reached, depending on the shortfall margin and the then position with UKasii Partners, investments will either be refunded in full to investors, or the project may forge ahead. The decision will be shared within 21 Days of the ICO completion date.

How secure is UKasii?

UKasii is being built on the blockchain developed by Stellar. A blockchain is a - very secure - “chain” of transaction records, distributed and stored across a vast network of computers that don’t know each other (the computers are referred to as “Nodes”), where every transaction, and the history of every transaction, is stored on every computer. So, if for example someone wanted to commit fraud, and try to spend money (cryptocurrency) they didn’t have, or steal money, they’d have to alter the history of every transaction on every computer.

For a very simple explanation, you can watch this video.

However, while the blockchain may be very secure by design, UKasii employs “ethical hackers” who are tasked with penetration testing every aspect of the UKasii application to try and find any faults, holes, bugs etc., and naturally we will continue to invest in the security of UKasii.

How long do you estimate it will take for the network to launch and see adoption?

Based on our benchmarks with “similar” programs in other regions, we anticipate very conservatively that 4.1 million people (from a current TAM of 95 million) in Nigeria will download the UKasii app in Year 1 and that 70% will actively participate, after which we again very conservatively anticipate 35% YoY growth in customer numbers.

What is the consensus algorithm used by UKasii and how / why was it picked?

UKasii is being built on the Stellar Blokchain. Stellar was selected for its speed, scalability and low transaction fees, which was obviously going to be fundamental to UKasii. Stellar uses the Stellar Consensus Protocol (SCP), details of which can viewed here, here, and here. For more details, you may also wish to read our White Paper.

How did you determine the number of coins to be sold and the cap?

A number of successful coins were benchmarked and studied, based on their application and markets. We then modelled a few scenarios based on the immediate markets UKasii would be addressing, their populations, Income per Capita, propensity to spend, growth scenarios etc. and factored in a fairly “comfortable” margin of error. This gave us our Total UKasii to ever be distributed number.

The ICO caps were determined based on the various levels of funding we could work with to deliver the project. The Minimum Target was determined as a “bare minimum” based on Year 1 and Year 2 costs, minus 30%, until the business case forecast to be positive.

In theory, based on the UKasii Coin that will be offered, the most that could be raised is $11 million. However this could only happen if all the UKasii Coins were sold in Round 2. Our Soft Cap of $1.7 miliion will allow us to deliver the project by reducing certain costs (e.g. marketing) and would rely on a certain level of income being ahcieved in Year 1 from program Partners. Our Hard Cap of $7 million would offer us a very comfortable launch. We did consider having a lower Hard Cap. However we’re conscious that UKasii Coin has to hold value for the long term for those wishing to hold it and this can only be achieved if the majority of UKasii Coin is in the market.

It should also be remembered that UKasii is also actively promoting and investing in social causes, so any additional funding will also be channelled towards those in need.

Who will benefit from UKasii CSR Investments?

We will be working closely with charities, NGO’s and relevant governmental organisations to identify which causes to support. A UKasii Head of CSR (Corporate Social Responsibility) will be responsible for coordinating UKasii CSR initiatives, which UKasii teams will actively participate in.

Can UKasii Customers / Partners nominate causes to benefit from UKasii CSR Investments?

We are planning to make this a possibility, yes.

What will happen with unsold UKasii Coin?

Any UKasii Coin remaining after ICO, will be kept in reserve to be distributed as part of UKasii services to customers who decide to exchange Kasii at the preferred rate, (estimated at less than 3% annually). For more details, you may also wish to read our White Paper.

What is UKasii?

UKasii (pronounced "You-Kashee") is a completely mobile, blockchain based consumer “cash-back” rewards program.

UKasii is made up of two elements: the UKasii Coin and the Kasii Token.

Kasii Tokens are earned as “cash-back” for spending money on goods and services at UKasii Partner establishments.

All customers will need to do, is show the UKasii Partner their unique UKasii QR Code from their mobile phone at the point of payment.

When will the UKasii program launch?

We aim to launch UKasii with our first partner(s) in Quarter 4 2019.

How can I purchase UKasii Coin?

UKasii will be available for purchase during the UKasii ICO, the details of which will be shared on this website in the coming weeks. Please check back regularly or join our Whitelist to receive updates.

After the ICO, UKasii Coin will be able to be purchased from cryptocurrency exchange platforms, the details of which will be shared after launch.

UKasii Coin can also be obtained in exchange for Kasii Tokens at a preferential rate (to be decided) for as long as there is UKasii Coin in the reserve. Once the reserve is depleted this will no longer be possible and UKasii Coin will only be available for purchase on cryptocurrency exchanges at the market rate.

Will there be discounts for early investors?

Investors at Pre-ICO will be offered UKasii Coin at 67% discount against Round 1 investors and 75% discount against Round 2 investors. For more details, you may also wish to read our White Paper or visit our ICO page.

What is your Bonus Scheme for investors?

For detail of our Bonus Scheme for investors, please refer to our ICO page

What will be the minimum investment level?

The minimum investment amount will be set at $25.

What is the ICO Minimum Target?

$1.7 Million

Is there a Hard Cap on the UKasii ICO?

Yes. The hard cap is $7 Million.

For more details, you may also wish to read our White Paper or visit our ICO page.

When will Investors Receive Their UKasii Coins?

Coins will be received "real time", during the ICO.

How did you decide the UKasii issue price?

Two key considerations drove the decision on price. Future profits for the investors and to reach as many small investors as possible from every level of society, taking into consideration the market(s) we will serve.

This is why the minimum investment was set fairly low ($25), and the one time incentive to exchange up to 50% of the UKasii Coin value into spendable Kasii Tokens at UKasii partners has been offered; to present immediate value to all investors.

How much UKasii Coin will be owned by the founders? Is there a vesting schedule?

25 million UKasii will be held by the UKasii founder shareholders. Founder shareholders will not be able to divest their UKasii Coin for two years from the date of issue. For more details, you may also wish to read our White Paper.

How does UKasii score under the Howey Test?

Ukasii is rated as 40 under the Howey Test, "Equally likely and unlikely to be a security".

However it should be noted that while it is important to have (and we do believe in the necessity of having) such a test for Coins and Tokens, the Howey test has not yet been directly applied by any courts to any digital currency or blockchain token. Moreover the Howey test as applied by the courts does not involve any points-based calculation.

The points system is intended as a guide - to highlight the characteristics of a Token / Coin which are relevant to securities law analysis.

Can UKasii Coin be exchanged for cash?

Yes. UKasii coin will eventually be able to be exchanged for cash (or other cryptocurrencies) via cryptocurrency exchanges, details of which will be made available.

Can UKasii Coin be exchanged for other cryptocurrency?

Yes. UKasii coin will eventually be able to be exchanged for cash (or other cryptocurrencies) via cryptocurrency exchanges, details of which will be made available.

Can UKasii Coin be exchanged for Kasii?

No. This is not possible. However, investors in the UKasii Coin, during the ICO only, will have the one time option to exchange up to 50% of their UKasii Coin into Kasii Tokens for future use at UKasii Partners.

Can Kasii Tokens be exchanged for UKasii Coin?

Yes. UKasii Coin can be obtained in exchange for Kasii Tokens, at a preferential rate (to be decided) for as long as there is UKasii Coin in the reserve. Once the reserve is depleted this will no longer be possible and UKasii Coin will only be available for purchase on cryptocurrency exchanges at the market rate.

Can Kasii Tokens be spent in other countries?

This will eventually be possible once agreements are made with potential UKasii Partners from other countries.

Can Kasii Tokens be exchanged for other cryptocurrency?

No. Kasii can only be spent, like cash, at UKasii Partner establishments or exchanged for UKasii Coin.

UKasii coin will eventually be able to be exchanged for cash (or other cryptocurrencies) via cryptocurrency exchanges, details of which will be made available.

Will there be any other benefits for those holding UKasii Coin?

Yes. We will be introducing very exclusive benefits for those that “Hodl” (Hold) UKasii coin as part of the UKasii program.

How much customer data is shared with UKasii Partners?

Customer identity will remain completely private. UKasii Partners will have access to transactional data via the eCommerce Platform but not to whom it belongs to. UKasii Partners will be able to send promotions and campaigns via the eCommerce Platform based on this information, if a customer consents to receive promotional messages.

However, customers will be able to reveal more information about themselves to UKasii Partners if they wish, in exchange for additional Kasii.

Where can the UKasii App be downloaded?

The UKasii App will be available from the Google Play Store and Apple App Store. Details will be made available soon. We’ll keep you updated and inform you when the app will be launched if you complete the form here.

Who can become a UKasii Partner?

Any business that wishes to offer cash-back to its customers can become a UKasii Partner.

Will UKasii expand to countries outside Africa?

Our immediate short / medium term focus is, beginning with Nigeria, the Central / Sub-Saharan Africa region. However, depending on the growth and acceptance of UKasii by customers and UKasii Partners alike, establishing UKasii in other regions and continents is of course something we are aiming to do.

What will happen to investors capital if the ICO is unsuccessful?

In the event the ICO minimum target of $1.7 Million is not reached, depending on the shortfall margin and the then position with UKasii Partners, investments will either be refunded in full to investors, or the project may forge ahead. The decision will be shared within 21 Days of the ICO completion date.

How secure is UKasii?

UKasii is being built on the blockchain developed by Stellar. A blockchain is a - very secure - “chain” of transaction records, distributed and stored across a vast network of computers that don’t know each other (the computers are referred to as “Nodes”), where every transaction, and the history of every transaction, is stored on every computer. So, if for example someone wanted to commit fraud, and try to spend money (cryptocurrency) they didn’t have, or steal money, they’d have to alter the history of every transaction on every computer.

For a very simple explanation, you can watch this video.

However, while the blockchain may be very secure by design, UKasii employs “ethical hackers” who are tasked with penetration testing every aspect of the UKasii application to try and find any faults, holes, bugs etc., and naturally we will continue to invest in the security of UKasii.

How long do you estimate it will take for the network to launch and see adoption?

Based on our benchmarks with “similar” programs in other regions, we anticipate very conservatively that 4.1 million people (from a current TAM of 95 million) in Nigeria will download the UKasii app in Year 1 and that 70% will actively participate, after which we again very conservatively anticipate 35% YoY growth in customer numbers.

What is the consensus algorithm used by UKasii and how / why was it picked?

UKasii is being built on the Stellar Blokchain. Stellar was selected for its speed, scalability and low transaction fees, which was obviously going to be fundamental to UKasii. Stellar uses the Stellar Consensus Protocol (SCP), details of which can viewed here, here, and here. For more details, you may also wish to read our White Paper.

How did you determine the number of coins to be sold and the cap?

A number of successful coins were benchmarked and studied, based on their application and markets. We then modelled a few scenarios based on the immediate markets UKasii would be addressing, their populations, Income per Capita, propensity to spend, growth scenarios etc. and factored in a fairly “comfortable” margin of error. This gave us our Total UKasii to ever be distributed number.

The ICO caps were determined based on the various levels of funding we could work with to deliver the project. The Minimum Target was determined as a “bare minimum” based on Year 1 and Year 2 costs, minus 30%, until the business case forecast to be positive.

In theory, based on the UKasii Coin that will be offered, the most that could be raised is $11 million. However this could only happen if all the UKasii Coins were sold in Round 2. Our Soft Cap of $1.7 million will allow us to deliver the project by reducing certain costs (e.g. marketing) and would rely on a certain level of income being achieved in Year 1 from program Partners. Our Hard Cap of $7 million would offer us a very comfortable launch. We did consider having a lower Hard Cap. However we’re conscious that UKasii Coin has to hold value for the long term for those wishing to hold it and this can only be achieved if the majority of UKasii Coin is in the market.

Who will benefit from UKasii CSR Investments?

We will be working closely with charities, NGO’s and relevant governmental organisations to identify which causes to support. A UKasii Head of CSR (Corporate Social Responsibility) will be responsible for coordinating UKasii CSR initiatives, which UKasii teams will actively participate in.

Can UKasii Customers / Partners nominate causes to benefit from UKasii CSR Investments?

We are planning to make this a possibility, yes.

What will happen with unsold UKasii Coin?

Any UKasii Coin remaining after ICO, will be kept in reserve to be distributed as part of UKasii services to customers who decide to exchange Kasii at the preferred rate, (estimated at less than 3% annually). For more details, you may also wish to read our White Paper.

UKa$ii Partner FAQ

What is UKasii?

UKasii (pronounced "You-Kashee") is a completely mobile, blockchain based consumer “cash-back” rewards program.

UKasii is made up of two elements: the UKasii Coin and the Kasii Token.

Kasii Tokens are earned as “cash-back” for spending money on goods and services at UKasii Partner establishments.

All customers will need to do, is show the UKasii Partner their unique UKasii QR Code from their mobile phone at the point of payment.

When will the UKasii program launch?

We aim to launch UKasii with our first partner(s) in Quarter 4 2019.

What are the benefits of becoming a UKa$ii Partner?

Please refer to the Partner Benefits page here

How does the UKa$ii Program work?

In a nutshell, you as a UKa$ii Partner will offer “cash-back” to customers shopping with you in the form of tokens called “Ka$ii”, instead of offering discounts. Or you can offer “cash-back” AND a discount, which customers love.

Customers are then able to spend their Ka$ii with you or any other UKa$ii Partner.

How much cash-back do I have to give customers?

This is completely up to you. You decide the percentage amount of “cash-back” you would like to offer based on your products and services. It can be anything from 1% to 70% or even higher, it’s completely up to you.

We will provide you with the solution and quick training to simply and easily define what percentage you will give as “cash-back” for the products and services you sell.

What is the cost of becoming a UKa$ii Partner?

Joining UKa$ii is completely free; there are no implementation or integration fees. Once you become a UKa$ii Partner, we only charge a small transaction fee based on the amount of Ka$ii Tokens given to customers as “cash-back”. There are no other costs or fees.

What happens to Ka$ii Tokens customers spend with my business?

As a UKa$ii Partner, you will be able exchange the Ka$ii Tokens customers spend with you for cash from us. Ka$ii Tokens will have a fixed value of 1 US Dollar, and we will pay you 1 US Dollar, minus a very small transaction fee, for each Ka$ii Token customers spend with your business.

Or, you will have the option of rewarding your staff with Ka$ii Tokens so they may use them with you or any other UKa$ii Partner.

You will also have the option of exchanging your Ka$ii Tokens for UKa$ii Coin if you wish.

When will you pay us for the Ka$ii Tokens customers spend with our business?

We will pay Uka$ii Partners every month.

We will also pay UKa$ii Partners a monthly rebate, based on the amount of Ka$ii Tokens they have issued.

How Will Customers Earn Kasii Tokens?

First they will need to download the UKasii Mobile app, which is currently under development.

Once they create an account, Kasii Tokens will be earned for purchasing goods and services anywhere you see the UKasii logo at a UKasii Partner.

All they will need to do is show their unique UKasii QR Code on their mobile phone.

How Will Customers Spend Kasii Tokens?

Kasii Tokens will be able to be spent just like cash, at any UKasii Partner establishment, using the UKasii Mobile app. UKa$ii Partners will scan the customer QR code on their mobile phone. It’s that simple.

How fast are transactions using UKa$ii?

UKa$ii will be able to handle over 3,000 transactions per second, with each transaction completed within 3-4 seconds.

What Is The Value Of A Kasii Token?

1 Kasii will be equal to 1 USD and you will see the value of your Kasii in local currency on the UKasii Mobile app.

Is There A Minimum Amount Of Kasii a Customer Must Earn Before they Can Spend It?

No. They can spend any amount of Kasii as soon as it is earned, as long as they have it in their account.

How Much Customer Data Is Shared With UKasii Partners?

Customer identity will remain completely private. UKasii Partners will have access to transactional data via the eCommerce Platform but not to whom it belongs to. UKasii Partners will be able to send promotions and campaigns via the eCommerce Platform based on this information, if a customer consents to receive promotional messages.

However, customers will be able to reveal more information about themselves to UKasii Partners if they wish, in exchange for additional Kasii.

What Other Features Does The UKasii E-Commerce Platform Provide?

The UKasii eCommerce Platform will allow Partners to pinpoint and send targeted offers to customers who genuinely want to see them, vastly reducing current marketing costs.

The eCommerce Platform will also provide accurate ROI reports and allow Partners to cost effectively acquire and retain customers.

How Do I Earn UKasii Coin?

UKasii Coin can only be purchased. UKasii will be available for purchase during the UKasii ICO (Initial Coin Offering).

After the ICO, UKasii Coin will be able to be purchased from cryptocurrency exchange platforms, the details of which will be shared after launch.

UKasii Coin can also be obtained in exchange for Kasii Tokens.

Can I exchange Kasii Tokens for UKasii Coin?

Yes. UKasii Coin can be obtained in exchange for Kasii Tokens at a preferential rate (to be decided) for as long as there is UKasii Coin in the reserve. Once the reserve is depleted this will no longer be possible and UKasii Coin will only be available for purchase on cryptocurrency exchanges at the market rate.

Can Kasii Tokens be exchanged for another cryptocurrency?

No. Kasii can only be spent, like cash, at UKasii Partner establishments or exchanged for UKasii Coin.

UKasii coin will eventually be able to be exchanged for other cryptocurrencies via cryptocurrency exchanges, details of which will be made available very soon.

UKasii Coin can be obtained in exchange for Kasii Tokens, at preferential rate (to be decided) for as long as there is UKasii Coin in the reserve. Once the reserve is depleted this will no longer be possible and UKasii Coin will only be available for purchase on cryptocurrency exchanges at the market rate.

Can I exchange UKasii Coin for cash?

Yes. UKasii coin will eventually be able to be exchanged for cash (or other cryptocurrencies) via cryptocurrency exchanges, details of which will be made available very soon.

Can I exchange UKasii Coin for another cryptocurrency?

Yes. UKasii coin will eventually be able to be exchanged for cash (or other cryptocurrencies) via cryptocurrency exchanges, details of which will be made available very soon.

Can I exchange UKasii Coin for Kasii?

No. This is not possible. However, investors in the UKasii Coin only during the ICO, will have the one time option to exchange up to 50% of their UKasii Coin into Kasii Tokens for future use at UKasii Partners.

Will there be any other benefits for those holding UKasii Coin?

Yes. We will be introducing very exclusive benefits for those that “Hodl” (Hold) UKasii coin as part of the UKasii program.

Where can I download the UKasii App?

The UKasii App will be available from the Google Play Store and Apple App Store. Details will be made available very soon. We’ll keep you updated and inform you when the app will be launched if you complete the form here.

Who will benefit from UKasii CSR Investments?

We will be working closely with charities, NGO’s and relevant governmental organisations to identify which causes to support. A UKasii Head of CSR (Corporate Social Responsibility) will be responsible for coordinating UKasii CSR initiatives, which UKasii teams will actively participate in.

Can I nominate causes to benefit from UKasii CSR Investments?

We are planning to make this a possibility, yes.

Will UKasii expand to countries outside Africa?

Our immediate short / medium term focus is, beginning with Nigeria, the Central / Sub-Saharan Africa region. However, depending on the growth and acceptance of UKasii by customers and UKasii Partners alike, establishing UKasii in other regions and continents is of course something we are aiming to do.

Where will my Kasii / UKasii be stored?

In very simple terms, all cryptocurrencies are stored as electronic transactions, recorded on a “Blockchain”. That is essentially what cryptocurrencies are: electronic transactions.

Cryptocurrency is no different to how we use credit / debit cards today. When you spend money at a store using a credit / debit card, no physical money changes hands. All that happens, is an electronic transaction is made, deducting numbers from your (bank) account and adding it to another. The transaction is recorded with the banks. It’s exactly the same with cryptocurrency. No money changes hands. An electronic transaction is made, deducting and adding numbers from one account to another. However, with cryptocurrencies there are no banks. The transactions are recorded on a Blockchain.

What is a Blockchain?

The blockchain is to cryptocurrency, what the internet is to email. That is probably the best way to start picturing blockchain. A blockchain is simply a - very secure - “chain” of transaction records, distributed and stored across a vast network of computers that don’t know each other (the computers are referred to as “Nodes”), where every transaction, and the history of every transaction, is stored on every computer. So, if for example someone wanted to commit fraud, and try to spend money (cryptocurrency) they didn’t have, they’d have to alter the history of every transaction on every computer.

Just like the internet is used for much more than sending and receiving email, so the blockchain can be, and is, beginning to be used for much more than transacting cryptocurrency.

For a very simple explanation of blockchains, you can watch this video.

Where is the Blockchain?

The blockchain is not in one place. The blockchain is a vast, distributed network of computers (referred to as “Nodes”) that can belong to anyone, anywhere in the world.

Without going into any fine detail, your computer could become a “Node” if you wanted to participate in a blockchain. Much like people use their computers for various purposes, to play games, browse the internet, word processing, to watch movies etc., they can also run the relevant applications to become part of a blockchain and in the process, earn fees for validating transactions - which is what Nodes do.

There are various blockchains. The Bitcoin blockchain is the most well-known and is obviously used to transact bitcoin. UKasii is being built on the Stellar Blockchain, which you can read about here.

Who verifies blockchain transactions?

Blockchain transaction are verified by the computers (referred to as “Nodes”) on a blockchain network.

Without going into any fine detail, your computer could become a “Node” if you wanted to participate in a blockchain. Much like people use their computers for various purposes, to play games, browse the internet, word processing, to watch movies etc., they can also run the relevant applications to become part of a blockchain and in the process, earn fees for validating transactions - which is what Nodes do.

There are various blockchains. The Bitcoin blockchain is the most well-known and is obviously used to transact bitcoin. UKasii is being built on the Stellar Blockchain, which you can read about here.

So, are blockchains the new banks?

No. Blockchain is simply a technology, like the internet is a technology. Blockchains can be used for numerous different purposes, with transacting cryptocurrency being just one.

How secure / safe is UKasii?

UKasii is being built on the blockchain developed by an organisation called Stellar. A blockchain is a - very secure - “chain” of transaction records, distributed and stored across a vast network of computers that don’t know each other (the computers are referred to as “Nodes”), where every transaction, and the history of every transaction, is stored on every computer. So, if for example someone wanted to commit fraud, and try to spend money (cryptocurrency) they didn’t have, or steal money, they’d have to alter the history of every transaction on every computer.

For a very simple explanation, you can watch this video.

However, while the blockchain may be very secure by design, UKasii employs “ethical hackers” who are tasked with penetration testing every aspect of the UKasii application to try and find any faults, holes, bugs etc., and naturally we will continue to invest in the security of UKasii.

Can UKasii Coin / Kasii Tokens be stored in a “digital wallet”?

A common misconception should be clarified here. Cryptocurrencies are basically electronic transactions, recorded on a Blockchain. That is all. So you cannot transfer or store cryptocurrency to a digital wallet in the same way that you can store or move dollar bills from an ATM to your purse or leather wallet; as there is no coin or token. There are balances (“the cryptocurrency amounts”) that belong to an account. The account, is your “Public Key”.

Think of a Public Key, like an email address. Anyone can know your Public Key and send you coins or tokens, but they cannot see the details of your account. Or make transactions from your account.

In order to make transactions from your account (Public Key), you need your “Private Key”. Think of a Private Key, like a password or PIN Number.

It’s the Public and Private Keys that are in fact stored in a digital wallet, not the coins or tokens. The “Coins” themselves, again, are just records of transactions, always stored on a Blockchain.

Every UKasii Customer and UKasii Partner will have a UKasii Wallet, that will hold their Public and Private Keys, that will be used to make transactions once they download the UKasii app.

We’ll keep you updated and inform you when the app will be launched if you complete the form here.

What is my UKasii Private Key?

This will be generated for you after you download the UKasii App and create a UKasii account. We’ll keep you updated and inform you when the app will be launched if you complete the form here

What is my UKasii Public Key?

This will be generated for you after you download the UKasii App and create a UKasii account. We’ll keep you updated and inform you when the app will be launched if you complete the form here.

UKa$ii Customer FAQ

What is UKasii?

UKasii (pronounced "You-Kashee") is a completely mobile, blockchain based consumer “cash-back” rewards program.

UKasii is made up of two elements: the UKasii Coin and the Kasii Token.

Kasii Tokens are earned as “cash-back” for spending money on goods and services at UKasii Partner establishments.

All customers will need to do, is show the UKasii Partner their unique UKasii QR Code from their mobile phone at the point of payment.

When will the UKasii program launch?

We aim to launch UKasii with our first partner(s) in Quarter 4 2019.

How do I earn Kasii Tokens?

First you will need to download the UKasii Mobile app, which is currently under development. We’ll keep you updated and inform you when the app will be launched if you complete the form here.

Once you create an account, Kasii Tokens can be earned for purchasing goods and services anywhere you see the UKasii logo at a UKasii Partner, e.g. Restaurants, Supermarkets, Travel Agencies, Airlines. All you will need to do is show the UKasii Partner your unique UKasii QR Code on your mobile phone.

How do I earn UKasii Coin?

UKasii Coin can only be purchased. UKasii will be available for purchase during the UKasii ICO (Initial Coin Offering).

After the ICO, UKasii Coin will be able to be purchased from cryptocurrency exchange platforms, the details of which will be shared after launch.

UKasii Coin can also be obtained in exchange for Kasii Tokens.

How much Kasii will I earn from spend?

This is completely up to the UKasii Partner. It can be 1% or as much as 70%, or even higher, depending on how much the UKasii Partner establishment wishes to offer you. It can be different amounts for different products and services. Again, this is completely up to the UKasii Partner.

Where can I earn Kasii Tokens?

We are in the process of meeting with potential UKasii Partners and will share their details once the partnerships have been confirmed.

How can I spend my Kasii Tokens?

Kasii Tokens can be spent just like cash, at any UKasii Partner establishment, using the UKasii Mobile app.

What is the value of a Kasii Token?

1 Kasii will be equal to 1 USD and you will see the value of your Kasii in local currency on the UKasii Mobile app.

Where can I spend my Kasii Tokens?

Kasii Tokens can be spent just like cash, at any UKasii Partner establishment, using the UKasii Mobile app. So for example you'll be able to earn Kasii at a restaurant and spend it at a petrol station.

We are in the process of meeting with potential UKasii Partners and will share their details once the partnerships have been confirmed.

Can I exchange Kasii Tokens for cash?

No. Kasii can only be spent, like cash, at UKasii Partner establishments or exchanged for UKasii Coin.

However, UKasii Coin can be obtained in exchange for Kasii Tokens at preferential rate (to be decided) for as long as there is UKasii Coin in the reserve. Once the reserve is depleted this will no longer be possible and UKasii Coin will only be available for purchase on cryptocurrency exchanges at the market rate. UKasii coin will eventually be able to be exchanged for cash (or other cryptocurrencies) via cryptocurrency exchanges, details of which will be made available soon.

Is there a minimum amount of Kasii I must earn before I can spend it?

No. You can spend any amount of Kasii as soon as it is earned, as long as you have it in your account.

Can I spend my Kasii Tokens in another country?

This will eventually be possible once agreements are made with potential UKasii Partners from other countries.

How can I purchase UKasii Coin?

UKasii will be available for purchase during the UKasii ICO (Initial Coin Offering).

After the ICO, UKasii Coin will be able to be purchased from cryptocurrency exchange platforms, the details of which will be shared after launch.

UKasii Coin can also be obtained in exchange for Kasii Tokens.

Can I exchange Kasii Tokens for UKasii Coin?

Yes. UKasii Coin can be obtained in exchange for Kasii Tokens at a preferential rate (to be decided) for as long as there is UKasii Coin in the reserve. Once the reserve is depleted this will no longer be possible and UKasii Coin will only be available for purchase on cryptocurrency exchanges at the market rate.

Can Kasii Tokens be exchanged for another cryptocurrency?

No. Kasii can only be spent, like cash, at UKasii Partner establishments or exchanged for UKasii Coin.

UKasii coin will eventually be able to be exchanged for other cryptocurrencies via cryptocurrency exchanges, details of which will be made available soon.

UKasii Coin can be obtained in exchange for Kasii Tokens, at preferential rate (to be decided) for as long as there is UKasii Coin in the reserve. Once the reserve is depleted this will no longer be possible and UKasii Coin will only be available for purchase on cryptocurrency exchanges at the market rate.

Can I exchange UKasii Coin for cash?

Yes. UKasii coin will eventually be able to be exchanged for cash (or other cryptocurrencies) via cryptocurrency exchanges, details of which will be made available soon.

Can I exchange UKasii Coin for another cryptocurrency?

Yes. UKasii coin will eventually be able to be exchanged for cash (or other cryptocurrencies) via cryptocurrency exchanges, details of which will be made available soon.

Can I exchange UKasii Coin for Kasii?

No. This is not possible. However, investors in the UKasii Coin only during the ICO, will have the one time option to exchange up to 50% of their UKasii Coin into Kasii Tokens for future use at UKasii Partners.

Will there be any other benefits for those holding UKasii Coin?

Yes. We will be introducing very exclusive benefits for those that “Hodl” (Hold) UKasii coin as part of the UKasii program.

How much of my data is shared with UKasii Partners?

Your identity will remain completely private. UKasii Partners will have access to transactional data via the eCommerce Platform but not to whom it belongs to. UKasii Partners will be able to send you promotions and campaigns via the eCommerce Platform based on this information, if you consents to receive promotional messages.

However, you will be able to reveal more information about yourself to UKasii Partners if you wish, in return for additional cash-back.

Where can I download the UKasii App?

The UKasii App will be available from the Google Play Store and Apple App Store. Details will be made available soon. We’ll keep you updated and inform you when the app will be launched if you complete the form here.

Who will benefit from UKasii CSR Investments?

We will be working closely with charities, NGO’s and relevant governmental organisations to identify which causes to support. A UKasii Head of CSR (Corporate Social Responsibility) will be responsible for coordinating UKasii CSR initiatives, which UKasii teams will actively participate in.

Can I nominate causes to benefit from UKasii CSR Investments?

We are planning to make this a possibility, yes.

Will UKasii expand to countries outside Africa?

Our immediate short / medium term focus is, beginning with Nigeria, the Central / Sub-Saharan Africa region. However, depending on the growth and acceptance of UKasii by customers and UKasii Partners alike, establishing UKasii in other regions and continents is of course something we are aiming to do.

Where will my Kasii / UKasii be stored?

In very simple terms, all cryptocurrencies are stored as electronic transactions, recorded on a “Blockchain”. That is essentially what cryptocurrencies are: electronic transactions.

Cryptocurrency is no different to how we use credit / debit cards today. When you spend money at a store using a credit / debit card, no physical money changes hands. All that happens, is an electronic transaction is made, deducting numbers from your (bank) account and adding it to another. The transaction is recorded with the banks. It’s exactly the same with cryptocurrency. No money changes hands. An electronic transaction is made, deducting and adding numbers from one account to another. However, with cryptocurrencies there are no banks. The transactions are recorded on a Blockchain.

What is a Blockchain?

The blockchain is to cryptocurrency, what the internet is to email. That is probably the best way to start picturing blockchain. A blockchain is simply a - very secure - “chain” of transaction records, distributed and stored across a vast network of computers that don’t know each other (the computers are referred to as “Nodes”), where every transaction, and the history of every transaction, is stored on every computer. So, if for example someone wanted to commit fraud, and try to spend money (cryptocurrency) they didn’t have, they’d have to alter the history of every transaction on every computer.

Just like the internet is used for much more than sending and receiving email, so the blockchain can be, and is, beginning to be used for much more than transacting cryptocurrency.

For a very simple explanation of blockchains, you can watch this video.

Where is the Blockchain?

The blockchain is not in one place. The blockchain is a vast, distributed network of computers (referred to as “Nodes”) that can belong to anyone, anywhere in the world.

Without going into any fine detail, your computer could become a “Node” if you wanted to participate in a blockchain. Much like people use their computers for various purposes, to play games, browse the internet, word processing, to watch movies etc., they can also run the relevant applications to become part of a blockchain and in the process, earn fees for validating transactions - which is what Nodes do.

There are various blockchains. The Bitcoin blockchain is the most well-known and is obviously used to transact bitcoin. UKasii is being built on the Stellar Blockchain, which you can read about here.

Who verifies blockchain transactions?

Blockchain transaction are verified by the computers (referred to as “Nodes”) on a blockchain network.

Without going into any fine detail, your computer could become a “Node” if you wanted to participate in a blockchain. Much like people use their computers for various purposes, to play games, browse the internet, word processing, to watch movies etc., they can also run the relevant applications to become part of a blockchain and in the process, earn fees for validating transactions - which is what Nodes do.

There are various blockchains. The Bitcoin blockchain is the most well-known and is obviously used to transact bitcoin. UKasii is being built on the Stellar Blockchain, which you can read about here.

So, are blockchains the new banks?

No. Blockchain is simply a technology, like the internet is a technology. Blockchains can be used for numerous different purposes, with transacting cryptocurrency being just one.

How secure / safe is UKasii?

UKasii is being built on the blockchain developed by an organisation called Stellar. A blockchain is a - very secure - “chain” of transaction records, distributed and stored across a vast network of computers that don’t know each other (the computers are referred to as “Nodes”), where every transaction, and the history of every transaction, is stored on every computer. So, if for example someone wanted to commit fraud, and try to spend money (cryptocurrency) they didn’t have, or steal money, they’d have to alter the history of every transaction on every computer.

For a very simple explanation, you can watch this video.

However, while the blockchain may be very secure by design, UKasii employs “ethical hackers” who are tasked with penetration testing every aspect of the UKasii application to try and find any faults, holes, bugs etc., and naturally we will continue to invest in the security of UKasii.

Can UKasii Coin / Kasii Tokens be stored in a “digital wallet”?

A common misconception should be clarified here. Cryptocurrencies are basically electronic transactions, recorded on a Blockchain. That is all. So you cannot transfer or store cryptocurrency to a digital wallet in the same way that you can store or move dollar bills from an ATM to your purse or leather wallet; as there is no coin or token. There are balances (“the cryptocurrency amounts”) that belong to an account. The account, is your “Public Key”.

Think of a Public Key, like an email address. Anyone can know your Public Key and send you coins or tokens, but they cannot see the details of your account. Or make transactions from your account.

In order to make transactions from your account (Public Key), you need your “Private Key”. Think of a Private Key, like a password or PIN Number.

It’s the Public and Private Keys that are in fact stored in a digital wallet, not the coins or tokens. The “Coins” themselves, again, are just records of transactions, always stored on a Blockchain.

Every UKasii Customer and UKasii Partner will have a UKasii Wallet, that will hold their Public and Private Keys, that will be used to make transactions once they download the UKasii app.

We’ll keep you updated and inform you when the app will be launched if you complete the form here.

What is my UKasii Private Key?

This will be generated for you after you download the UKasii App and create a UKasii account. We’ll keep you updated and inform you when the app will be launched if you complete the form here.

What is my UKasii Public Key?

This will be generated for you after you download the UKasii App and create a UKasii account. We’ll keep you updated and inform you when the app will be launched if you complete the form here.

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