Monday, January 27, 2014

Some More Details about Klickex

Our post about Klickex and its recent announcement of a new cryptocurreny (the GSD) in November of last year has created quite a bit of reaction and interest.

Since this company is still a relatively small startup in the South Pacific region, many are unfamiliar with it of course. In our post we raised the idea of whether they might be a beta test to see how a cryptocurrency might work in the real world. Because the company has not released a lot of details yet, there are obviously a lot of questions. What would back this cryptocurrency? How would it work? How would it impact the average citizen if adopted globally? etc.

The first thing I suggest doing is to become more familiar with the company. There is a fair amount of information available on the internet about them. Below are links you can use to learn more about them. We have dug out this information for you because that's we do here. :)

I will also add a permanent link to their twitter site so anyone interested in following their progress can do so. Here are good links for more info:

Where do they get their funding? The company indicates they partner with the UN.

Here is an article which talks about that some. It discusses the partnership between Klickex and Digicel Mobile Money. The last sentence says "Digicel Mobile Money is supported by PFIP, UNDP, and AusAID". The PFIP is a regional organization in the Pacific. They list their donors here.

The company mentions that they have been recognized by SWIFT. Here is an article on that. Who is SWIFT and what do they do? Read here. This article also quotes Robert Bell as follows "“SWIFT loved that we want to set up a new global central bank to eliminate global FX risks and costs… and have already done it in the Pacific with United Nations Capital Development Program funding.”

What has Klickex been doing? Here is an article related to that. They have been a peer to peer money transfer system in the South Pacific. They help the unbanked access money and be able to transfer it. Or anyone else for that matter.

So is this company's new cryptocurrency headed for bigger things in the future?

Here is what we know right now:

They have developed the technology to create a system based around an asset backed cryptocurrency. They state it can be used by Central Banks. They have stated they have a goal to "set up a new global central bank".

They have been funded by the UN and other NGO's.

They have won awards for their technology by prestigious organizations like SWIFT (top startup award).

So, the potential is clearly there for something to unfold over time. We'll keep an eye on it.
This story will probably develope over a few months to a couple of years. 

Update 2-6-14: Here is some more information I was able to locate on this topic.

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