How is Qaori legit? Is it not one more scam? How do we recognize and prevent fraud, and is Qaori not attracting all sorts of criminals? How do we make sure of liquidity and stability? Is it another Ponzi Scheme?
We often hear these legit questions, and we are happy to explain how we are different, and why do we consider us at the antipodes and an antidote to the hyper-capitalistic get-rich-fast crypto scams that we see prevailing. Some people throw away the virtual or cryptocurrency baby with the bathwater, and that is just wrong.
Firstly, Qaori is not about crypto. Qaori is a service platform using a digital currency, besides the “normal” currencies, for those who see the advantage. We created our currency on the blockchain, not to get rich but as a payment utility for our members. Qaori’s main characteristic is a fixed value, based on a bucket of global values, which is mirrored 100% in Switzerland by hard assets. Unlike Bitcoin or the other 300,000 coins out there, it is not built to speculate, but to beat inflation by being stable. Qaori is not an object of speculation but at the antipode of speculation and an antidote to predator capitalism.
We are bridging the usage of blockchain-based currencies with digital or physical ones to make Qaori the first street-ready crypto utility coin, to be widely used as day-to-day money. The cherry on the cake: Qaori is stable in inflationary environments.
We implemented multiple mechanisms to make sure of compliance with laws and regulation, and be auditable at all times. The mechanism to protect us from trouble within the current and any future legal frameworks is declined in several steps and measures:
- Members sign a contract and buy a share to be able to use the financial services.
- Members get e-KYC/AML’ed with a specialized firm and tracked over one year. If anyone pops up as a known criminal/money launderer, we investigate and exclude.
- Our software (the dApp) checks the reality of active membership at every transaction and blocks any tentative of fraud.
- Exclusions cases are presented to the relevant governance committees, who decide on their rules (competency principle).
- The crypto exchange has a dedicated compliance officer, outsourced to a competent independent firm
- The governance of the virtual assets is transparent, regular, and real, including monthly reporting to members, portfolio composition, transaction volumes, etc. by a competent administrator.
- Members and external auditors or the press have access to public reports at all time on dedicated pages.
- Real-time numbers are displayed on a dashboard.
- Anyone can propose new measures or features to protect the integrity and reputation of Qaori on our public innovation and feedback board and on a protected anonymous whistleblower form.
- An Innovation Committee handles the proposals funnel under a specific framework (Kakushin©) which is transparent, reported and explained.
- The Ethical Committee makes sure that the principles of Sufficient Economy, Augmented Leadership, Resilient Economy and Prosumer Economy are always respected and lived.
- Rules can be reviewed and adapted, in an agile spirit, by the member’s will, in our democratic governance system.
Ponzi Schemes are easy to unmask and based on simple tricks. How can we recognize a Ponzi Scheme when we see one? There are a few very recognizable factors that need to be checked before you put any money somewhere.
- Check out the entry commission of the sales people, typically it is multilevel marketing. When the sales commissions are paid at all levels, how much is left? At Qaori Cooperative, we practice a 0.5% commission for your Concierge, who takes care of you.
- Promised returns: in a Ponzi Scheme, high returns are always “guaranteed” and happen to the first ones who join, to encourage followers. Then it slows down, before braking apart. At Qaori, we don’t promise any return on investment, we beat inflation instead and don’t take any fees. Our goal is not to make you rich, but to preserve your assets sustainably.
- Check out exit cost: in a Ponzi Scheme, you are not encouraged to take money out and have to fight for it. At Qaori you just fill a form and pay 2% of fees. If you use the Visa Card at an ATM, the card fee might come on top of the 2% (see the pricelist).
- The governance is opaque, not real or not existing. At Qaori, we have a transparent digital governance, meeting minutes and a Board of Directors, regular external audits and everything is publicly accessible.
- Check out the founders on LinkedIn, or other social media, blogs they write, their public history, the books they have published, etc. When you find nothing, it is a warning. Qaori has been founded by publicly visible people, with years of history, books have been written about them, they are invited to universities. Scholars vouch for them.
Please see below the organization’s credentials and legal information:
The bookkeeping and tax compliance is assured by our general legal advisor K. Poon at https://candiduck.com
