Krippenreiter Profile picture
Apr 16 β€’ 17 tweets β€’ 15 min read Twitter logo Read on Twitter
[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

Mar 28
1/ To be honest, I'm having a hard time comprehending this one, but I came up with a simple example that could help. 🧡

@woj4ke Please correct me if I am incorrect.

I'll probably delete this later if it doesn't make sense.
2/ Assume I develop a #decentralized gaming app (L2-Smart Contract) with 10 nodes hosted all over the world to be redundant and reliable while processing #smartcontract data in the #network.

➑️ The purpose of this #game is to walk from the starting point to the finish line.
3/ On the players route to the finish line, there are rocks to leap over.

After successfully leaping over a rock, a #transaction on the #dApp gets crafted, granting the player 1 issued #Token labeled "JUMP".
Read 13 tweets
Mar 26
[1/🧡] A short synopsis of Joachim Nagel's most recent speech on the future of #economic and #monetary union, presented and released by @OMFIF (@OMFIFDMI). πŸ‘‡

[2/7] Joachim Nagel, a member of the @bundesbank's Executive Board, discusses:
πŸ”Έ #Inflation
πŸ”Έ #Monetary policy
πŸ”Έ #Fiscal development, ...

... among other topics.
[3/7] According to Nagel, the ongoing #energy #crisis in #Ukraine has resulted in:
πŸ”Έ Greater #inflation
πŸ”Έ Higher #energy prices ...

... influencing:
πŸ”Έ #Industrial costs
πŸ”Έ #Financial insecurity.
Read 8 tweets
Mar 19
[1/🧡] "#ISO20022 is bigger than you think"

You've probably heard that term a few times and wondered what it meant. πŸ€”

In case you are curious now:

A brief explanation of everything important.
There will be nothing complicated ahead, so don't worry. πŸ§΅πŸ‘‡ Source: https://topiacoin.io/es/cbpr-iso-20022-for-dummies/
[2/24] β€” Outline β€”

πŸ”Ή Origin & Timeline
πŸ”Ή What's the big deal?
πŸ”Ή Details regarding the transformation
πŸ”Ή Migration Approaches
πŸ”Ή Relations to #Crypto (#DTI)
πŸ”Ή @Ripple & #JSON formats Source: https://www.cryptopolitan.com/iso-20022-compliant-cr
[3/24] β€” Origin & Timeline β€”

The #ISO 20022 standardization efforts began very early on. Indeed, you may be wondering how you missed it until this date. πŸ˜… Source: https://www.slideserve.com/bevis/iso-20022-unifi-pow
Read 26 tweets
Mar 15
[1/🧡] I believe @bob_way has already gone way overboard with #ILP and all the complexities of explaining all that needs to be expressed. ❀️

Still, let me make a few remarks on the following topics πŸ‘‡
β€’ Infrastructure layers of #ILP
β€’ #XRPL Payment Channels
β€’ "Ledger Graphs"
[2/17] β€” Infrastructure Layers of #Interledger β€”

When it comes to the most recent version of the open #ILPv4 suite in universal mode (high volume, low value payments), the layering is as follows:

1⃣ Application
2⃣ Transport
3⃣ Interledger (Core Layer)
4⃣ Link
5⃣ Ledger
[3/17] β€” 1⃣ Application Layer β€”

This is the suite's first layer, and it contains the following protocol:
➑️ #SPSP (Simple Payment Setup Protocol)

πŸ“ This is for #identifiers, which are comparable to email addresses and are used to make addresses readable.
Read 18 tweets
Mar 10
I wanted to thank @bob_way once more for this 4 hour Twitter space marathon.

Today I realized that I am still in the early stages of learning about #ILP and the #XRPL.

In case you missed it today, here are all the sources we discussed: πŸ§΅πŸ‘‡
1⃣ β€” #Rippling and the "#NoRipple Flag"

xrpl.org/rippling.html
2⃣ β€” Local Exchange Trading Systems (#LETS)

investopedia.com/terms/l/local-…
Read 11 tweets
Mar 5
[1/🧡] @DigiEuro interviewed @moderndosh and @AntonyWelfare on the @Ripple #CBDC-Manager software.

The underlying private #CBDC-ledger based on #XRPL was also heavily discussed.

I summarized the most of the interview for you, along with my personal comments. πŸ§΅πŸ‘‡ Welcome to the Ripple Digital Currency Manager
[2/19] To begin, if you are completely unfamiliar with #CBDCs and the #Ripple solution, here is a nice place to start:
[3/19] One important reason for using a private version of the public #XRPL is that a central #bank needs to be able to control the #money supply.

Why use a private ledger ❓
▢️ Central banks and #governments must be able to mint and destroy #currencies. CBDC Hierarchy of Needs
Read 21 tweets

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