Frequently Asked Questions

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

UKa$ii Partner FAQ

What is UKa$ii?

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

UKa$ii is made up of two elements: the UKa$ii Coin and the Ka$ii Token.

Ka$ii Tokens are earned as “cash-back” for spending money on goods and services at UKa$ii Partner establishments.

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

When will the UKa$ii program launch?

We aim to launch UKa$ii with our first partner(s) in Quarter 1 2020.

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 Ka$ii Tokens?

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

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

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

How Will Customers Spend Ka$ii Tokens?

Ka$ii Tokens will be able to be spent just like cash, at any UKa$ii Partner establishment, using the UKa$ii Mobile app. UKa$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 Ka$ii Token?

1 Ka$ii will be equal to 1 USD and you will see the value of your Ka$ii in local currency on the UKa$ii Mobile app.

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

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

How Much Customer Data Is Shared With UKa$ii Partners?

Customer identity will remain completely private. UKa$ii Partners will have access to transactional data via the eCommerce Platform but not to whom it belongs to. UKa$ii 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 UKa$ii Partners if they wish, in exchange for additional Ka$ii.

What Other Features Does The UKa$ii E-Commerce Platform Provide?

The UKa$ii 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 UKa$ii Coin?

UKa$ii Coin can only be purchased.

UKa$ii Coin will be able to be purchased from cryptocurrency exchange platforms, the details of which will be shared after launch.

UKa$ii Coin can also be obtained in exchange for Ka$ii Tokens.

Can I exchange Ka$ii Tokens for UKa$ii Coin?

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

Can Ka$ii Tokens be exchanged for another cryptocurrency?

No. Ka$ii can only be spent, like cash, at UKa$ii Partner establishments or exchanged for UKa$ii Coin.

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

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

Can I exchange UKa$ii Coin for cash?

Yes. UKa$ii 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 UKa$ii Coin for another cryptocurrency?

Yes. UKa$ii 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 UKa$ii Coin for Ka$ii?

No. This is not possible.

Where can I download the UKa$ii App?

The UKa$ii 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 UKa$ii CSR Investments?

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

Can I nominate causes to benefit from UKa$ii CSR Investments?

We are planning to make this a possibility, yes.

Will UKa$ii 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 UKa$ii by customers and UKa$ii Partners alike, establishing UKa$ii in other regions and continents is of course something we are aiming to do.

Where will my Ka$ii / UKa$ii 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. UKa$ii 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. UKa$ii 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 UKa$ii?

UKa$ii 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, UKa$ii employs “ethical hackers” who are tasked with penetration testing every aspect of the UKa$ii application to try and find any faults, holes, bugs etc., and naturally we will continue to invest in the security of UKa$ii.

Can UKa$ii Coin / Ka$ii 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 UKa$ii Customer and UKa$ii Partner will have a UKa$ii Wallet, that will hold their Public and Private Keys, that will be used to make transactions once they download the UKa$ii app.

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

What is my UKa$ii Private Key?

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

What is my UKa$ii Public Key?

This will be generated for you after you download the UKa$ii App and create a UKa$ii 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 UKa$ii?

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

UKa$ii is made up of two elements: the UKa$ii Coin and the Ka$ii Token.

Ka$ii Tokens are earned as “cash-back” for spending money on goods and services at UKa$ii Partner establishments.

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

When will the UKa$ii program launch?

We aim to launch UKa$ii with our first partner(s) in Quarter 1 2020.

How do I earn Ka$ii Tokens?

First you will need to download the UKa$ii 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, Ka$ii Tokens can be earned for purchasing goods and services anywhere you see the UKa$ii logo at a UKa$ii Partner, e.g. Restaurants, Supermarkets, Travel Agencies, Airlines. All you will need to do is show the UKa$ii Partner your unique UKa$ii QR Code on your mobile phone.

How do I earn UKa$ii Coin?

UKa$ii Coin can only be purchased from cryptocurrency exchange platforms, the details of which will be shared after launch.

UKa$ii Coin can also be obtained in exchange for Ka$ii Tokens.

How much Ka$ii will I earn from spend?

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

Where can I earn Ka$ii Tokens?

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

How can I spend my Ka$ii Tokens?

Ka$ii Tokens can be spent just like cash, at any UKa$ii Partner establishment, using the UKa$ii Mobile app.

What is the value of a Ka$ii Token?

1 Ka$ii will be equal to 1 USD and you will see the value of your Ka$ii in local currency on the UKa$ii Mobile app.

Where can I spend my Ka$ii Tokens?

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

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

Can I exchange Ka$ii Tokens for cash?

No. Ka$ii can only be spent, like cash, at UKa$ii Partner establishments or exchanged for UKa$ii Coin.

However, UKa$ii Coin can be obtained in exchange for Ka$ii Tokens at preferential rate (to be decided) for as long as there is UKa$ii Coin in the reserve. Once the reserve is depleted this will no longer be possible and UKa$ii Coin will only be available for purchase on cryptocurrency exchanges at the market rate. UKa$ii 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 Ka$ii I must earn before I can spend it?

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

Can I spend my Ka$ii Tokens in another country?

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

How can I purchase UKa$ii Coin?

UKa$ii will be available for purchase from cryptocurrency exchange platforms, the details of which will be shared after launch.

UKa$ii Coin can also be obtained in exchange for Ka$ii Tokens.

Can I exchange Ka$ii Tokens for UKa$ii Coin?

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

Can Ka$ii Tokens be exchanged for another cryptocurrency?

No. Ka$ii can only be spent, like cash, at UKa$ii Partner establishments or exchanged for UKa$ii Coin.

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

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

Can I exchange UKa$ii Coin for cash?

Yes. UKa$ii 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 UKa$ii Coin for another cryptocurrency?

Yes. UKa$ii 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 UKa$ii Coin for Ka$ii?

No. This is not possible.

How much of my data is shared with UKa$ii Partners?

Your identity will remain completely private. UKa$ii Partners will have access to transactional data via the eCommerce Platform but not to whom it belongs to. UKa$ii 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 UKa$ii Partners if you wish, in return for additional cash-back.

Where can I download the UKa$ii App?

The UKa$ii 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 UKa$ii CSR Investments?

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

Can I nominate causes to benefit from UKa$ii CSR Investments?

We are planning to make this a possibility, yes.

Will UKa$ii 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 UKa$ii by customers and UKa$ii Partners alike, establishing UKa$ii in other regions and continents is of course something we are aiming to do.

Where will my Ka$ii / UKa$ii 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. UKa$ii 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. UKa$ii 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 UKa$ii?

UKa$ii 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, UKa$ii employs “ethical hackers” who are tasked with penetration testing every aspect of the UKa$ii application to try and find any faults, holes, bugs etc., and naturally we will continue to invest in the security of UKa$ii.

Can UKa$ii Coin / Ka$ii 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 UKa$ii Customer and UKa$ii Partner will have a UKa$ii Wallet, that will hold their Public and Private Keys, that will be used to make transactions once they download the UKa$ii app.

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

What is my UKa$ii Private Key?

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

What is my UKa$ii Public Key?

This will be generated for you after you download the UKa$ii App and create a UKa$ii 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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