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Apr 16, 2023 β€’ 17 tweets β€’ 15 min read β€’ Read on X
[1/🧡] β€” #DCMA / #Unicoin / #UMU & the future of #Crypto & #CBDC β€”

Let's look through the website and conduct some research before leaping to conclusions. 🧐

πŸ”Έ Did the #IMF make any comments regarding #DCMA?
πŸ”Έ Will this be the end of #XRP?

Let's find out in this πŸ§΅πŸ‘‡ Source: https://dcma.io/ima...
[2/16] The Digital Currency Monetary Authority is making moves and expanding its reach through Twitter with its Unicoin network and #UMU, the native Unicoin.

ℹ️ Who are they and what do they offer? Source: https://dcma.io/ima...
[3/16] β€” ℹ️ β€” 1⃣ #DCMA & #Unicoin β€”
πŸ”Έ Founder working on Unicoin since 2013, yet LinkedIn says 2018
πŸ”Έ Just 2 employees
πŸ”Έ They refer to themselves as a business, yet there is no registered corporate structure Source: https://unicoinnetw...Source: https://www.linkedi...Source: https://www.linkedi...
[4/16] β€” ℹ️ β€” 2⃣ #DCMA & #Unicoin β€”
πŸ”Έ There is no visible whitepaper
πŸ”Έ There is no contact page
πŸ”Έ There are no terms of use
πŸ”Έ There is no privacy policy
πŸ”Έ They see no legal risks
πŸ”Έ There are no open roles
πŸ”Έ There are no developer resources
πŸ”Έ There are no licenses Source: https://unicoinnetw...Source: https://dcma.io/uni...Source: https://unicoinnetw...
[5/16] β€” ℹ️ β€” 3⃣ #DCMA & #Unicoin β€”
🧐 They claim to have collaborated with the #UN and #WEF on project "#Yetta," but no mention of #DCMA, Unicoin, or UMU is made.

➑️ The basic explanation is that the DLT was formerly known as "Yetta blockchain," which is now extinct. Source: https://www.researc...Satoshi’s original vision w...Source: https://unicoinnetw... The Unicoin innovation sta...
[6/16] β€” ℹ️ β€” 4⃣ #DCMA & #Unicoin β€”

Do you believe that's all there is to it?
The very best is yet to come. πŸ˜…

This website contains information regarding open standards that they believe are vital.

What you should expect:
πŸ”Έ ISO
πŸ”Έ IETF
πŸ”Έ W3C

What they released:
πŸ‘‡ Source: https://dcma.io/cry...Source: https://dcma.io/cry...
[7/16] β€” 1⃣ Darrell Hubbard (Founding Member and Executive Director) β€”

You might ask about the founder's background.

Fortunately, he registered on gbaglobal.org and copied and pasted his whole bio into the "Summary of Experience" section. Source: https://gbaglobal.o...
[8/16] β€” 2⃣ Darrell Hubbard (Founding Member and Executive Director) β€”

As we go into his background, we will quickly find that there is a third name that is used, this time in conjunction with the "Unicoin" network, the so-called:

πŸ”Έ Yubi stablecoin.

The executive summary: πŸ‘‡ Source: https://tadsawards....
[9/16] β€” The 3 🚩🚩🚩 β€” 1⃣ Administration β€”

πŸ“ Is for financial service providers to onboard branches, bankers and agents

πŸ”Έ No registration
πŸ”Έ Passwords can only be typed in cleartext since the "eye" does not work
πŸ”Έ "Forgot Password" leads to "register," which blocks access Source: https://admin.unico...Source: https://admin.unico...
[10/16] β€” The 3 🚩🚩🚩 β€” 2⃣ Finance Service β€”

πŸ“ Providers can connect and transact worldwide acc. to the jurisdiction

πŸ”Έ Login with your public and private keys πŸ€¦β€β™‚οΈ
πŸ”Έ Save the private key in your browser πŸ€¦β€β™‚οΈ

❗️ NEVER EVER ENTER YOUR PRIVATE KEY IN A WEB BROWSER PAGE ❗️ Source: https://unicoinnetw...
[11/16] β€” The 3 🚩🚩🚩 β€” 3⃣ Communications β€”

πŸ“ Prov. can handle customer TX issues via email, audio and video conference

πŸ”Έ By clicking on ❓, users will be sent to smartertools.com
πŸ”Έ #DCMA anticipates that central banks will use this chat server for customer service Source: https://office.unic...Source: https://help.smarte...
[12/16] β€” The interconnection β€”

From what I've gathered, this is most likely how it evolved over time in Mr. Hubbard's world:

1⃣ Yetta Blockchain ICO failed
> Rebrand to Unicoin network

2⃣ Yubi Stablecoin got no traction
> Rebrand to UMU

3⃣ Form. of DCMA to market credibility Source: https://dcma.io/uni...
[13/16] β€” Did the #IMF make any comments regarding #DCMA? β€”

There are no official remarks from the IMF addressing their position on DCMA and its stablecoin UMU.

More at @Kiffmeister πŸ‘‡
kiffmeister.com/2023/04/11/kif…
[14/16] β€” Will this be the end of #XRP? β€”

No.
[15/16] β€” Summary & TL;DR β€”

I've rarely come across something that is so dubious and appears to be a fraud while yet having some sort of relationship to the #EU and #WEF.

πŸ˜‰ No financial advice.

What are your thoughts?
[16/16] I hope you liked this in-depth analysis into #Unicoin and #DCMA. My gut is telling me that it's something one should avoid.

Please follow me here:
@krippenreiter

Feel free to contribute by sharing here πŸ‘‡β€οΈ

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More from @krippenreiter

Oct 8
[🧡] Most people lose money to the XRPL-AMM! 😒

The reasons vary, but typical beginner's mistakes are the main reason for drastic (im)permanent losses. (pun intended)

If you are an XRPL-AMM beginner, there are exactly 10 golden rules that I think most people should follow πŸ‘‡ Source: @krippenreiter
[2/15] β€” TL;DR β€”

If you don't like pretty pictures, but would rather have someone explain the details to you, you can find my video version of this thread here. πŸ‘‡

[3/15] β€” 1⃣ Golden Rule β€” Source: @krippenreiter
Read 16 tweets
Sep 12
[1/🧡] The institutional financial future will be completely on-chain, HOWEVER...

It will be trust-based, gated, and fully compliant with:
πŸ”Έ KYCβ€”AMLβ€”CTFβ€”APFβ€”OFAC

How do you stay compliant on the decentralized and permissionless XRP Ledger that's neutral to its users? πŸ‘‡ Source: @krippenreiter
[2/18] β€” Regulatory Compliance β€”

Institutions who want to work with Ripple to use their tech stack must be careful not to get into trouble while using blockchain technology.

For this, Ripple has pledged NOT to:
πŸ”Έ Launder money
πŸ”Έ Finance terrorism
πŸ”Έ Evade sanctions Source: https://www.mentu.com.py/blog/1807/implementando-el-compliance
[3/18] β€” KYC β€”

For institutions who wish to directly use the XRP Ledger, it's critical to always "[K]now [Y]our [C]ustomer".

Just as when you set up a bank account, an institution will not accept complete anonymity or even pseudonymity and will ask for your identity. Source: https://www.investopedia.com/terms/k/knowyourclient.asp
Read 19 tweets
May 21
[1/🧡] Did you know that there is scientific research on the optimal fees for geometric mean market makers (G3M), one of which is the XRPL-AMM?

πŸ’‘ We are doing it all wrong, and here's everything you need to know to revive the AMM. πŸ‘‡ Source: @krippenreiter
[2/20] β€” Basics β€”

First of all, among every complaint about the XRPL-AMM, trading fees are something over which we have power.

The voting mechanism of the design passes control to the top eight largest LP-Token holders in each pool, allowing them to regulate trading fees. Source: https://xpmarket.com/amm/pool/USDC-rcEGREd8NmkKRE8GE424sksyt1tJVFZwu/XRP/voting
[3/20] β€” Facts β€”

Fees
πŸ”Έ Charged for swapping
πŸ”Έ Range: 0% - 1%
πŸ”Έ Smallest reasonable value: 0.001%

Weight
πŸ”Έ Percentage ownership of a pool
πŸ”Έ Range: 0% - 100%
πŸ”Έ Smallest reasonable value: 0.001%

β†ͺ️ The trading fee comes from the weighted mean of the largest 8 active votes Source: https://xpmarket.com/amm/pool/USDC-rcEGREd8NmkKRE8GE424sksyt1tJVFZwu/XRP/voting
Read 21 tweets
May 6
[1/🧡] The XRP Ledger is about to level up! πŸ”₯

With all of the proposals, discussions, and development going on right now, here is a thorough, high-level summary of what is in the pipeline πŸ‘‡ Source: @krippenreiter
[2/18] β€” DID β€”

Status: 🟒 Voting (new bugfix in v2.2.0)

DID is for sharing & controlling your own individual digital identity on the XRPL, while the personal data that your ID links to is held off-chain.

Use Cases:
β€’ Reusable KYC
β€’ Permissioned, regulated, and compliant DEX Source: https://www.w3.org/TR/did-use-cases/#uc
[3/18] β€” XChainBridge β€”

Status: 🟒 Voting (new bugfix in v2.2.0)

Allows for cross-chain asset transfers across distinct independent ledgers, such as a mainchain (e.g. XRPL) and a sidechain (e.g. EVM-Sidechain).

Use Cases:
β€’ (w)XRP to be the native asset on a sidechain
β€’ EVM-InteroperabilitySource: https://github.com/XRPLF/XRPL-Standards/tree/master/XLS-0038d-cross-chain-bridge
Read 19 tweets
Apr 5
[1/🧡] @Ripple announced today that they will introduce a new stablecoin pegged 1:1 to the US dollar.

πŸ”Έ Does this imply that XRP is doomed? 🀨

Let's learn together to fully understand the bigger picture. πŸ‘‡ Source: @krippenreiter
[2/22] β€” Outline β€”

πŸ”Έ Ripple News
πŸ”Έ Stablecoin Basics
πŸ”Έ Key Differences - XRP
πŸ”Έ Facts and Figures
πŸ”Έ XRPL-AMM
πŸ”Έ Summary Source: https://www.gagan.pl/crypto/xrpl-funkcja-sprawdzania-na-horyzoncie/
[3/22] β€” 1⃣ Ripple News β€”

Ripple has announced plans to launch an enterprise-grade, compliant, multichain-compatible, 100%-backed USD stablecoin, marking a significant milestone in their expansion into new verticals.

Runs on...
πŸ”Έ XRPLedger
πŸ”Έ Ethereum

Read 23 tweets
Mar 21
[1/🧡] It's always exciting to see @jazzicoop talk about the XRPL and DeFi! πŸ”₯

If you don't have time to see the entire clip, here's a quick summary of what was said. πŸ‘‡
[2/13] β€” Why was @Ripple at @EthereumDenver? β€”

@RippleXDev is collaborating with @Peersyst to develop a fully EVM-compatible XRPL sidechain

Devs may tap into XRPL's amazing attributes:
πŸ”Έ Durability
πŸ”Έ Longevity
πŸ”Έ Regulatory clarity on the asset (XRP) Source: https://bridge.devnet.xrpl.org/
[3/13] β€” Biggest misconceptions about XRPL β€”

Myths:
❌ Closed Source
❌ No Public Development
❌ Can't build things on XRPL

Reality:
βœ… Open Source
βœ… No SCs, but "primitives" to build on
βœ… NFTs, fungible Tokens, Layer1 DEX
βœ… Accessible via API callsSource: https://xrpl.org/docs/references/client-libraries/
Read 14 tweets

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