April 11-th held an Ask Me Anything session at ICOSpeaks telegram chat. From the OZ Finance side, there were:
Before we go to the first set of questions, could you please do a short self-intro? 👨💻 Jin Gonzalez | chief strategist | @jingonzalez Jin’s entrepreneurial and operations experience spans 20 years in various businesses ranging from Logistics, BPO, Education, and Tech with 6 startups and 2 exits.
He was the business development director for Fintech and Blockchain at Union Bank and is instrumental in the bank’s overall token migration strategy, governance and execution; as well as the bank’s blockchain products which include token custody, PHX stablecoin, and i2i cross border as well as i2i domestic remittance. He was the Executive Director of the Distributed Ledger Technology Association of the Philippines.
He is the Co-founder of GlobalTradeX, a digital asset exchange able to do Fiat P2P, Spot Trading, Margin Trading, Futures Trading, Lending and Staking, among others.
He also is the founder of Oz.Finance the worlds first residency enabled token providing tax free living in a privacy protected, regulation light environment giving complete portability of residency.
👨💻 Vincent Choy | blockchain strategist |@VinceChoy
My name is Vincent and I am the Chief Development Architect for Oz. I basically designed the tokens and the tokenomics for the project. Before I joined Oz, I advised multiple projects since 2017, and was a regular speaker at Blockchain events around the world. Before I got into blockchain, I was/am an entrepreneur and was mainly in the oil & gas and finance sector, having worked in over 33 countries worldwide.
Let’s get started! Q: What is your project all about?
A:Oz launched a very interesting project. We basically launched the world’s first RESIDENCY-ENABLED token! We make residency in any of our partner countries as simple as staking our token in your wallet! Our first partner country is the Philippines, and we are talking to over 10 other countries right now. We want to give our community and our users the right to live and work in our partner ecozones. And not just living and working. We also enable Tax Free Business Operations, Privacy Protection and Regulatory Cover for crypto and digital assets businesses.
And, it is NOT a concept. Our project is already LIVE! We have welcomed our first 2 residents. One is an American and the other a Singaporean as RESIDENTS of Oz.
By being a resident of OZ, they are able to live and work anywhere in the Philippines with no minimum stay requirements.
Enjoy Tax-Free Business Operations. Gain Privacy Protections and a Bank Account to conduct their business.
And Gain Regulatory Cover for Crypto and Digital Assets Businesses that are regulated by our Ecozone.
There are many projects out there but the question you need to ask is… Does any of these projects deliver on what Blockchain intended to deliver in the first place. Is there a token that can fundamentally affect the lives of those who participate in it.
TOTOz is the first token to grant complete portability of residency and business operation in a tax free, privacy protected, regulation covered environment.
It is the first project to give access to freedoms we always wanted from blockchain tech.
It took us three years to develop this as we needed government support and we now have it. The PH govt through AFAB launched this at dubai with us just a couple of weeks ago.
And we do this by working with the Government, in this case the Freeport Area of Bataan!
Q: Tell me more about these 3 freedoms we get.
A:So, the first freedom is Freedom from Excessive Taxes. Oz is essentially your voice when talking to the governments about taxing crypto and digital assets.
In the countries we live in, we are technically beholden to what regulators decide. This is not bad in any way but in some cases, policy gets in the way. Wars are waged, freedoms are infringed upon, and police states may even lock you up when you have COVID. Crazy world we live in.
We all need access to
Privacy Protection: We are ok with disclosing who we are but for the government to have complete view of all our activities and finances may be a bit too much.
Regulatory Cover: We are ok with regulation as we need peace and order but over regulation is not good also as in some cases where you get locked up for having COVID.
Tax Enabled Living: We are ok with paying taxes but not excess tax as what other countries are now doing to pay for the excessive debt they have accrued.
Oz gives access to multiple economic zones where you get these three and you can still live anywhere you want, even the country you are in.
Currently, what is happening around the world is that governments are trying to tax digital assets and the crypto industry to death. And even worse! the rules keep changing! We want to give our industry clear rules and regulations when it comes to this growing industry in order for it to innovate and grow even bigger.
You can live your life through a company that is setup under your 100% ownership. All your income, expenses and assets are booked under the company.
What was normally accessible to the ultra wealthy and accessible by large corporations is now accessible to everyone who simply stakes TOTOz for a specific amount for a specific number of years.
So really, what our project gives you, and everybody in our community is:
Freedom from Excessive Taxes
Freedom from Random Unclear and Changing Regulations.
And Privacy Protection.
The bonus here is under the 100K Staking package, you do not have to pay taxes for 5 years and its only a flat 5% tax thereafter. You can also live anywhere.
Q: Is the government behind your project?
A:Let’s answer the question this way. How many projects are there in the market right now where you will find the project logo directly on the government website?
If you can go to https://afab.gov.ph, you will see Oz’s logo at the bottom of the government website!
afab.gov.ph – nothing gets more legit than our logo being on the government website. AFAB also launched us at Dubai.
That is the Chairman and Admin in the picture.
Full government support.
And we are in discussions with other governments as well to seek the same.
Under a Government to Government arrangement, this is possible in record time.
That’s right! Oz will enable truly global connections! Official meetings are being held with other governments with the objective to extend Oz and its capabilities to other regions. AFAB is in all these maximize the network for the oz community.
Q: Besides Philippines which other countries are you talking to? A:We are in talks with many other countries right now. Special economic zones within these countries.
Some of those we can mention include Honduras, Uruguay, and Guatemala in Latin America.
Papua New Guinea and Macedonia as well. Basically, our target is to be in at least 2 to 3 countries by the end of this year. AFAB will officially be reaching out to major ecozones in partnership with us in the coming months. This will expedite participation from other countries in the Oz network.
Q: When will the private round end? A:We just started!
Let me share some information about our tokens. Our tokenomics consists of tokens that are locked up to develop multiple ecozones around the world.
Every time we manage to secure an additional ecozone. We will release new tokens together with new residency and economic opportunities.
We are currently in our private round, which will release the tokens meant for the development of AFAB.
USDT 1.00 will get any buyer 10,000,000 TOTOZ tokens.In addition, for the private round, we will be giving out bonus OZT Governance Tokens that will be airdropped to every token buyer
We will be doing an institutional investment round where we will be meeting with many of the top institutional investors and funds from the 21 April 2022. For those of you interested to get in on a good deal, make sure you sign up and purchase TOTOZ before then!
Our tokens are currently available in vwallet.oz.finance. Q: Do you have any Bug Bounty to check for weakness? In what way do you plan to make Your project more complete?? A:We will be expanding our ecosystem with licensed custodians and security solutions. Check out our wallet at wallet.oz.finance.
Q: Your project name seems to be very interesting. Does it have any story behind it? Can you share us with the inspiron for approaching to this name?
A:Our project is named after the story of Oz! We are building the Emerald City with our project and inviting everyone to join us in the land of Oz!
Q: How did you get the community involved in developing the project? and how do you build a strong community to grow globally? A:Our community mostly grows organically as we are very active in AMAs and other events. OUr tokenomics is also structured to accommodate 1000 core community members and 30,000 influencers globally.
Q: Most of users are still not aware with Blockchain & its related projects ! So, How Your Project platform create awareness about their project with NON-CRYPTO users too? A:This project is very easy to understand and non-crypto people can join too. Our first 2 participants are not from crypto! One is a surgeon and another is a student. They want tax-free living, privacy protection and regulatory cover.
Q: Smart contracts are prone to failure, and many projects fall victim to it, costing user funds and discrediting projects. How reliable and secure are your smart contracts? Did you test it with either party? A:We are conducting smart contract audits on our platform and tokens.
Q: I am interested to investigation in your project. When and where can i buy your tokens? Is it already listed exchanges? A:It is not listed in any exchanges yet. You can purchase the token at https://wallet.oz.finance. We will be listing latest end May.
Q: Revenue is an important aspect for all projects to survive and maintain the project/company. How have you been able to build a complete project and what is the way to generate profit/revenue of the token? What is the income model?
A:Agreed. There are several parts here. The first is how do we build in scarcity to our token. This is through the core utility of the token. Since there is only 480 blocks available, it is within reason to expect 1% of the 58M millionaires globally to purchase the tokens as the vast majority of them do not have the three freedoms. But they for sure can afford it. 1% is 580K who need to purchase tokens from the 480 blocks. DO the math on that as to what multiple that will effect. As for revenue, we have direct economic interest in the city itself enabling defi applications in real living. Think of all defi but in this case, there is real assets now behind it. Hence real revenue.
Q: Is your project a community only for English speaking an countries or for users not of other languages? A: No. We have translated our project into Russian and Chinese.
Q: Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?
A: We are a global project, starting in the Philippines.
Q: Have you being audited ? Have not heard you talk about that security of funds is what every investor craves for and plans to escape incase of insecurity if funds,scams and rug pulls ? How strongly built are your security put in place? A:First of all, we are a government-linked project, and in a very visible way. We cannot do a rug-pull. Our services is tied directly to the laws of the country!
ICOSpeaks hosted an ASK me anything with OZ Finance Team. That’s all for today.
