Space Summary
The Twitter Space Crypto World Club X Takadao [ Twitter Space AMA Session ] hosted by CRYPTO_WORLD_CB. In the Crypto World Club X Takadao Twitter Space AMA Session, marketing agency expertise shines through as valuable discussions with the Binance community take center stage. This session showcases interactive elements like live AMA sessions, giveaways, and airdrops to foster engagement. By emphasizing serious business knowledge and providing contact links for further engagement, participants gain insights while promoting the session. Discover the world of crypto marketing through this engaging AMA experience.
For more spaces, visit the Marketing Agency page.
Questions
Q: What is emphasized in the Crypto World Club X Takadao session?
A: The expertise in serious business within the crypto domain.
Q: How does the session engage with the Binance community?
A: By providing valuable exchanges and discussions.
Q: What benefits do live AMA sessions offer?
A: Interactive platforms for engaging knowledge sharing.
Q: Why are giveaways and airdrops utilized in the session?
A: For promotional activities and increased participation.
Q: Where can interested individuals seek more details post-session?
A: Through the provided contact link for further information and engagement.
Highlights
Time: 00:15:42
Serious Business Expertise in Crypto Exploring the depths of knowledge in the crypto business realm.
Time: 00:25:19
Engagement with Binance Community Valuable exchanges and insights within the Binance network.
Time: 00:35:55
Interactive Live AMA Sessions Real-time discussions and Q&A for an engaging experience.
Time: 00:45:28
Promotional Giveaways and Airdrops Utilizing incentives for increased participation and interest.
Time: 00:55:10
Contact Link for Further Engagement Providing a direct way for interested individuals to reach out post-session.
Key Takeaways
- Insights on serious business expertise in the crypto world.
- Engagement with the Binance community for valuable exchanges.
- Live AMA sessions provide interactive platforms for knowledge sharing.
- Utilizing giveaways and airdrops for promotional activities.
- The importance of contact links for further information and engagement.
Behind the Mic
Introduction and Opening Remarks
Hello everyone. Thank you so much for joining. Make sure to like and redeem space and be ready for the live segment as well. We will start this session shortly. Thank you. All right, so hello Mister Mora, you will be the only speaker or is there anyone who are going to join? No, we have two speakers tonight. Is Shereen also joining? Oh yeah, I sent her the invite link, so could you please, Mike, do accept that. Yes, I will share the invite thing with her right now. She is now a speaker. Hi. Hi everyone. Hi. How are you doing today? Doing well, how are you? Lovely. I think we've spoken before. Yeah, yeah. How's it going? Going fantastic. Awesome. Good to hear from you again. Yeah. So I think we need to wait for one or two minutes so that more people join in here and then we will start shortly. Sure.
Starting the AMA Session
Alright, so let's start this Ama. Hello everyone and welcome today's AMA session. We are thrilled to have you all here as we dive into the exciting and innovative project that set to disrupt the insurance industry that is Takarao. So Takadao is revolutionizing the way we think about insurance by leveraging blockchain technology to create community driven and transparent dao that move away from the profit driven models we see in traditional insurance companies. So this new approach aims to empower communities, ensuring fairness, transparency and mutual protection in ways that have never been seen before. So today we have a pleasure to speaking with Mister Murad and Ms. Shireen at Takadao, who will be starting insight into their groundbreaking technology and the role of the taka token and how plans to transform the insurance landscape. So let's start this ama.
Introduction of the Speakers and Their Backgrounds
So first of all, thank you so much for joining us today, guys. And before we dive into the fantastic detail of Takadao, I'm sure our audience would love to know about the person behind the project. So could you start by telling us a bit about yourself and what's your background and how did your journey led you to become a key player in the Takkadao project? Murad, you want to go first? Yes. So thank you everyone for being here tonight. So we started the kadao two and a half years ago after exiting my startup, my first startup. We had personally had a big issue with investing some of my money into I would say, ethic businesses or shadiha compliance businesses. And that was one of the lightning moments for me was really like, there's not much going on to satisfy the muslim investment. They were all related to interest bearing and so on and so forth, or as we call Riba and then look at also at the space.
Motivation Behind Takadao
When it comes to the insurance space, that was the same thing as a global cities, then myself and as a Muslim. And I was, you know, looking at the insurance space and I was like shocked that, you know, it was difficult for us as a Muslim to get insurance, let alone traveling insurance, life insurance, you name it. It was all product that were not focused or targeted to our community. Hence we back and forth. Me and Sharon, were discussing the matter. She had also their own story behind the why we created Takada. But the main drivers was really to being able to provide an insurance that is fitted for the muslim consumption, I would say, but also letting non muslim being able to enjoy a quality mutual or community based entrance. And that's how Takada was inspired and started.
Shereen's Background
So, Sharon, if you want to add something. Yeah. So first of all, thank you guys for having us here, and thank you for taking the time out today to listen to our stories. My name is Shereen. I'm originally from Singapore. I left when I was, you know, after high school, moved the United States. I lived there for about ten years and then moved to the Middle east, where I've been for the last 20 plus years. So my story really begins with a family friend. So, you know, I was living in Rasahema, which is somewhere in the UAE. For those of you who don't know, we had a very close family friend with children around the same age as us. So I believe the family had about four kids at the time. The oldest was twelve.
Impact of Tragedy
And the husband goes off for Omro, which is like a pilgrimage. So he drives from the UAE to Saudi Arabia. It's roughly like a day's drive. And then he's on his way back, he's driving with his friend, and his friend falls asleep at the wheel, and they get into a car accident and they die on the spot, both of them. And this was, you know, it was a huge shock. Totally unexpected, right? This is one of those things like when you're old or you're sick, people pass away and it's expected, but this was just like accident, totally unexpected. So when we found out, were just so shocked and we wanted to help the widow and the family that was left behind. So the very next day, went to support her.
Community Support in Times of Need
So me and a bunch of my friends who knew the widow, went to her house. And the thing I remember on that day was the house was full. It was full of people, all women from around the city, who had come to support this lady. Particularly this lady was very well known because she was very. She did a lot to help the community, etcetera. And they all come to support her and to help her. And they brought money and they brought gifts and they brought like, food, and they brought stuff for the kids, etcetera. And that day, what shook me or what I remembered from that day was the power of community. Right? When somebody is in need of help, that's who helps them.
Recognizing the Role of Community
It's the people that they know is their friends, is their communities, their family, the institutions, they don't care. It wasn't a government that came and stepped in and helped, definitely not an insurance company, because, you know, they with a muslim family and they, for them, insurance was in Sharia compliant. So it was the community. And that really made me understand that what we need to actually live better lives is a community that works together. And it just so happens that up until now, we didn't have the technology to make this possible. And today, with the blockchain and crypto and that foundational technology, we're actually able to build these community systems now in a fair, transparent way that allows everyone to participate from all over the world and to help one another.
Vision for Takadao
And so this is the reason why I wanted to built what we're built here at Takadel. And this is. This is the thing that continues to drive me. Okay, that's awesome and thank you for sharing your inspiring story with us. And it's always great to hear about the experience and the passion that's drive leader in this industry and your journey. It Akaja really highlights the type of expertise behind this project. So, yeah, thanks for that. And now let's dive into the heart of what we are all curious about. So Takadao is making waves in the insurance world, but for those who are new to the project, could you give us an overview of what Takadao is all about?
Overview of Takadao
And while you are at and while you are at, could you highlight some of its standout feature that make it truly unique? So I will start and then Mora will jump in whenever. What we're trying to do is to build a protocol, the technology, protocol and backbone to allow community based and community owned insurance to take place. That allows people all over the world to pool their money together. And if something happens to one of them, that money is able to go to his family or to go to him, depending on the kind of insurance to support him at that time. Now, this is actually a lot more complicated than it sounds, because when you're talking about people globally, from all over the world.
Challenges of Global Insurance Pooling
How do you make sure that the money is handled in a fair way? How do you make sure that we are correctly adjusting and measuring the risk so that the fund doesn't run out of money? And how do you make sure everything is transparent and there is no corruption, which is what's happening with insurance companies today. And so this is where the blockchain technology comes into play. And this is why it is something that is important and powerful, because using the technology, we're now able to build this community that can trust that their money will be used in exactly the way that it's supposed to be used.
Fundamental Operations of Takadao
And so what we do fundamentally is two things, two pieces of technology that are both smart contract and blockchain based. One is an underwriting algorithm that measures the risk that says, well, if somebody is this old, what are the, what is the likelihood that he will pass away? All right, if we talk about life insurance? And so how much should he get in case he does pass away? And then it's what happens to the money if there's extra? Because don't forget, this is community owned, so it's not owned by anybody except the people who have contributed to money to begin with. So in other words, how does the extra money, the surplus, we call it, get redistributed among the members?
Claims Management Process
So that's the underwriting part. And the other piece of technology that we've built is the claims management. Now, if you look at insurance companies today, the worst possible time to deal with them is actually when you need the money and you go and you try to make a claim, and they don't tell you why they denied it. They don't tell you why they give you this much or don't give you this much. Everything is a black box. So we built this claims management process to be as decentralized and as transparent as possible. And that there is no single individual or group of people that will make a decision on your claim.
Decentralizing Claim Decisions
But rather, it's a process that goes through a bunch of different people who don't know who each other are and are incentivized just to make the correct decision. And then everything is on chain. So this is fundamentally what we do at Tecadel Marad. Did you want to jump in? Yeah. I mean, look, it's very simple. I guess everybody in the room, or maybe outside the room, are really upset with the way insurance have been, you know, working. So it's always horror story where the claims are not paid, where you pay a bunch of money and you never get a service that you want to have.
Real-Life Example of Insurance Failures
You know, I give you an example. In the last floor that happened in Dubai, for example, people who own car that were Tesla exploded. So the insurance there, they would have never expected that much of rain coming into a desert land like Dubai, so they would have. They ensured Tesla electrical car and those cars started to blow up. The batteries started to blow up and made major damage to those cars. Guess what? Even though those guys were insured and everything, the insurance refused to pay them. So they lost the Tesla. So imagine. So what's happening with what we try to build at Takadao is really building an entrance that is owned by us, by the participant.
Community Ownership and Trust
We really remove the middlemen, we remove the. The incentive motif and the guys on top of the insurance. And you know, either, like she was saying, either they win and or we lose. What we literally building is a win mutual system that everybody is in it together. Okay? And of course powered by technology that help us of course, verify that the pool of money is enough. There is actuarial team really working on it to make sure that we stay positive. And of course, the surplus, as she was mentioning, is always good news.
Unique Aspects of Takadao
To hear that I get some money back at the end of the year or at the end of the circle for my insurance, which is something that never happened. When you pay on a yearly basis, your car insurance, your life insurance, whatever, you never get money back into this. And that's what makes our product unique in that. In that fashion. Yeah. All right. Wow, that's impressive. And it's clear that the Kada is not just rethinking insurance, but completely transforming it. So the way you are leveraging blockchain to create these community driven Dao is truly groundbreaking, could say.
The Impact of Blockchain on Insurance
And it's exciting to hear about these feature that zad Takadao apart. And I'm sure our audience is already imagining the possibility. But before we get to here ahead, let's explore more. So, yeah, first of all, once again, like, thanks for sharing those amazing feature. So now, one of the most enterprising aspects of Jakadao is like, how it's using blockchain to bring a new level of transparency and trust to the insurance industry. That's a game changer in itself. So could you walk us through, like, how Takadao's blockchain technology encompassed this and how it stand out from the traditional insurance model we all are familiar with?
Blockchain as a Transparency Tool
Maybe insurance can add up. So to keep it a little bit simple, we're using blockchain so blockchain is an open ledger that everybody can see what's happening on time. Life is accessible to everybody. The issue actually, that I have personally, my insurance, is that I don't know what they're doing with the money. I don't know where the money goes. I don't how they pay the claim. If there's money left in the pool, I don't know. It's very opaque. So they seem that this system has been going forever and nobody knows.
Transparency and Decentralization
Everything is recorded. So it's like having the best audit that you can live audit that you can ever have. So even vis of the regulator or vis of the authorities and stuff like that, they have access to the entire leisure and entire blockchain. The other great things about what we're doing is totally decentralized. So if anything happened to me, the company, or Takada or anything like that, you still have everything locked on chain through your smart contract. So there is not a single point of failure. Everything is there. So it's like, do not trust us. Trust the decentralized system. Trust the way how things are working to secure everybody's phone. Okay? So that two of the things that I can say so far, and there's much more that Sharon can add up and to make you feel good about what we're building.
Challenges in Traditional Insurance
Yeah. So insurance, the key thing about insurance is that they are a for profit business that only goes where there's money to be made. And the way that insurance is done today is very expensive. So they basically ignore the majority of the world, and they only work for the individuals in countries that can afford it. Okay, now, that's one thing. The other thing is, insurance also doesn't make money when the risks are very high. Okay. And so they will just simply refuse to insure. Now, does that mean that the people with high risk don't need insurance? Of course they need insurance. So what we do different is a few things. First of all, we have global accessibility, right? If you want to join one of Takadao's tdaos, the mutual protection daos, this is what we call them, tdaos.
Global Accessibility and Technology
It doesn't matter where you are in the world, as long as you can pass the KYC and you are eligible, you can join. Right. And it doesn't matter if you have no bank account, as long as you have access to crypto and you can pay using crypto and you can receive payment using crypto, you can join. Second of all, everything we do is technology. There's no human beings managing. There are no little hands behind managing on a day to day basis. Everything is based on smart contracts, blockchain technology. And as Mora was saying, it's just perpetually running without human intervention, which means our operational costs are very low. So we are already, by virtue of that, much more affordable than traditional insurance. And we can go into places where traditional insurance will never go because it's too expensive for them to operate there. So that gives global reach and accessibility.
The Insurance Model Shift
But the most important thing is that these insurance companies, when they are working, when they are functioning, they're actually against their customer, because if they pay a claim, that means their profit is less. And that is fundamentally the reason why we always have fight with insurance companies. Now, what we're doing is we're saying we will take away the insurance company. No more insurance company, just a group of people who share the same problem, same risk. They come together and using the technology, they insure one another. Okay? And there's no individual with a profit incentive managing the whole thing and messing it up for everybody. And that is fundamentally something that cannot be achieved without using the blockchain, without using smart contracts that are automated.
Sustainability and Fund Viability
Oh, Shah, that's awesome. That's fascinating. Thanks for that answer. And the transparency and trust that blockchain brings to Takada is really impressive. So now, one thing that's on everyone's mind is sustainability. So how does Taka Dao plan to ensure that its mutual protection DaO remains sustainable and affected over the long term? And what strategies are in place to keep this innovative model thriving well into the future? If I understand, when you say sustainability, you mean the sustainability of the fund and that it will keep going, or what do you mean by sustainability? Can you please repeat when you say sustainability, are you talking about climate change, or are you talking about whether the fund will keep going and whether the business is something viable?
Ensuring Fund Longevity
The fund is keep going. Something like that. Okay, thank you. It's a very good question. Actually, the most important question. So the most important thing for any kind of mutual protection fund is that there's enough money there to make sure everyone gets paid. That is the key thing. So there are multiple strategies there. Now, usually with insurance companies, you are betting against insurance company, and basically you hope that the insurance company has money there. And if they run off money, they have to either go raise money from elsewhere or something like this. So what we do is different because we are a mutual insurance fund and there is no mutual protection fund, rather, and there is no incentive among the owners of the fund, that is the members, to make a profit.
Risk Evaluation and Adjustments
So therefore, we have what is called a self adjusting underwriting model. So we have predicted, based on data, that we have actuarial models, etcetera, mortality tables, that there will be x percentage of loss ratio for the fund at any given time. All right, so two things we do. So, number one, whenever, let's talk about life insurance, the life Dao, which is the one that we are launching first, whenever somebody joins, we will evaluate his individual risk. So we'll say, okay, how old is he? Where does he live? What kind of job does he have? Does he smoke? Does he not smoke? What is his gender, etcetera? And based on that, we'll assign him what is called a benefit multiplier. Okay?
Benefit Multipliers and Payouts
So his benefit, in case something happens to him, the benefit that is paid to his family is going to be dependent on how much he pays in and multiplied by this so called benefit multiplier. So for example, somebody who's around 25, female, healthy, no smoking, etcetera, she'll likely get a benefit multiplier of five to 600 x. So for every $1 that she contributes to the fund, if something happens to her family will get five to $600. Okay? So that's risk layer number one, okay, because therefore the fund will only have to pay out what is received in to begin with, okay? Number two is we have to manage for portfolio risk. So we have to see, well, who else is in the fund? Is it all old people? Is it all young people? Is it like some combination of both?
Predictive Modeling and Community Dynamics
And based on that, we'll know, okay, what is the expected amount of payouts that are going to happen? And so we will say, okay, if that amount of payout is consistent with what is predicted, then everybody stays status quo the same. But if now the payouts exceed what is predicted based on data, then we're going to have to adjust all the benefit multipliers downward so that the fund will keep sustaining itself so they will have continuously have money to pay out. So that's strategy number one, it's already a self adjusting fund. Now, strategy number two is where the Tekka token comes in.
The Role of Tekka Token
And this is what is exciting. This is what we're here to talk to everyone about today is really the Tekka token, because now the token holders who stake their tokens act as a form of backstop in case of a catastrophic event beyond even what the self adjusting fund can handle. Normally, if there's some unexpected high loss ratio, we will adjust it downwards and then everything will go back to normal. But if something happens that is so outrageous, for example, like a global pandemic or a world war, where it's like in the entire world is at war, then we have what is called the repull, the reprotection pool, which will step in and actually provide a little bit of additional liquidity so that claims can be paid.
Community Engagement Strategies
And of course the stakers will get compensated for being a staker to begin with. And this is what the strategy is to keep to ensure that the fund remains sustainable. All right, yeah, got it. Thanks for that thorough explanation. And it's reassuring to hear that qaedao has such a well thought out strategy to ensure the longitudinal and effectiveness of its mutual protection Dao. And yeah, sustainability is key to any successful project. And it's clear that you have put a lot of efforts into making sure is built to last.
Roadmap for New Participants
And I'm sure our audience is as impressed as I am, like how you're planning for the future. So let's keep this momentum going and explore more about like how the community can get involved with Takadao. So yeah, do let us know, like what's the best way for newcomers to start participating? So yeah, let me just maybe talk about the product roadmap a little bit. So what is going to happen in the next week, or rather tomorrow? Actually, we are launching our first Dao, first Tdao, which is the life Dao. It's a life insurance alternative.
Future Developments in Protection
We're launching it to testnet so people can actually already start playing around with it and seeing exactly what we mean when we say we have a mutual protection community that is transparent, that's happening tomorrow. In the meantime, we are planning already for future tdaos, right? So life Dao is only covering the risk of somebody passing away. Now we have huge demand for travel insurance or travel protection. So we are planning for the travel Dao. And homeowners insurance is another one especially important in places where they're experiencing high levels of climate change, like flooding and fires and things like that. So this from a product roadmap is what we are working on.
Building the Community
Murad, maybe you want to speak about the airdrop campaign and the ambassador campaign. Yeah. So as it is really community based entrance, imagine together we could literally build the largest global mutual insurance that is really catered to people. And there's no more, like, how little you can participate in order to get the insurance. Okay. As Sharon mentioned, you can insure yourself as low as $25 a year for the life insurance. So that's, you know, the main focus of Takadao is to ensure the underinsured and the unbanked and everything, because it's all built on the crypto realm.
Community Involvement and Future Vision
Okay. So now you have access anywhere in the world you can get this coverage. Now we need the community. And why do we need the community? The community to spread the good news, first of all, and to own a piece of this beautiful adventure. Because we believe in decentralized, because we believe in community, we need our earliest adopter or the early adopter to be part of this beautiful journey. And for us, we don't look at it as a crypto project like you see all over the place, people trying to pump and dump. I would say we're talking about a project that will be like reaching the moon and eventually nothing happened.
Commitment to Mission and Community
No, this is a project that is really dear to us and need to succeed no matter what, because of the importance of having such protection for our community. So the people who are coming now, listening to what I'm saying, they could come as like, hey, I need a quick buck. Fine, you want to get rich quick, go ahead. Or you want to be with us, or you want to be supporting this project, and you want not only to collect tokens as we're giving now, airdrop people would love to buy it as well, but what we want is believer in a vision of what we try to build.
Airdrop Strategy and Community Engagement
So that's why we offering Airdrop, for people who really want to understand the underlying project that we're doing, not try to just collect the airdrop. And of course, it's the whole point of an airdrop. Eventually you sell them for profit. But we want people who stick around with us, believe in what we're doing, and believe in our vision, and stick around with us, with all what we have to deploy. Of course, we have a limited amount of airdrop. It's not for everybody.
Engagement Activities and Community Growth
So we're going to give those airdrops now, and that's season one. People can do some tasks to get involved, starting to get involved with our community. First of all, engage with our community, challenge us, ask us questions. Ask a question to the community. Gather more people around what we believe, people who are in a web two, people who are in the web three, and eventually it's to be as close as possible to our community and our audience.
Physical Presence and Ambassador Program
And how do we do that? By being physically also present to different events through an ambassador program. So with the believers, with people who are driven by passion, not just the monastery king or airdrop diggers, the people who stick around with us, they will reap off the benefit of this adventure. And that's why we're very careful on the way. We proceed with our giveaway, our airdrop and everything, and the task and everything, and to finally help, really help.
Commitment to a Greater Vision
Like I say, the on the bank, the global SAP and thanks God we living in, I would say in the Middle east, we are okay. But we believe that this journey of helping different nations and our access to european nation as well, where people are in need also of a greater vision for an interest, will support and are supporting this. Hence, happy to be with you tonight and sharing my passion around the project and some of the, of course, airdrop that will make you happy as well and have a piece of what we're building.
The Role of the Token in Community Engagement
I just want to jump in. Also, the token for us is incredibly important and strategic, and we are not only trying to use it as a way to build our community, but as a way to really reward the early believers. So as the protocol builder, we receive a protocol fee every time the technology is being used. Right? So any Tdao that runs our technology. So we're hoping for many, many, we will pay a protocol fee for every member that joins every payment that is made.
Token Holder Benefits and Ecosystem
And this is what this revenue from the protocol fee is actually transferred back to the token holders in the format of buyback and burn. So 25% of our revenue actually goes back to buy back tokens from the outstanding market in order to burn them so that the remaining tokens will be more valuable. So that's number one. And number two, as I mentioned earlier, we have what is called a reprotection pool, which is a very key piece of the entire ecosystem.
Yield for Stakers in the Ecosystem
And so stakers will actually receive the 10% of the revenue as yield into the staking pool. So this is all the ways in which we hope that the token holders will benefit from holding the tokenization. Ajay. Yeah, thanks for that great detail. And it's great to hear about, like, there are so many accessible way for newcomers to get involved with Takadao and really show like, how much you valued community participation and the role it plays in the project success.
Engagement through Community Links
And yeah, that's nice. That was it. From the introductory parts of people you just need to stay support them also to know more about their update and future plans by joining all the social links of the Takadao. And you can check all the social links of Takadao on crypto, World cup axe handle and in our telegram as well. And here you can also see the Takadao Twitter handles. So go and follow this wonderful project for further update about the airdrop and many more stuff.
Editor Segment and Closing
Moving on. Now it's time to start another segment that is the editor word or could say act segment.
Community Queries on Takada
So in this segment, our community member already posted their doubt or the query related to the ticker dow. So we select the support best question for you. So let's see like what they ask. So yeah, one of our community member ask you that, like what strategies does Takada have in place to scale its platform and reach a global audience?
Building a Global Platform
Let me just preface by saying we built the platform to be global from day one. And this is why we're on blockchain rails. And this is why we are using crypto and stablecoins as the fundamental unit of accounting. But look, it's a very simple calculus in my opinion. We are providing an alternative to insurance where insurance is either too expensive, not available, or simply the insurance company does not want to insure this segment of people. So there's a huge demand out there. You know, if I give you some numbers, you'll be afraid. More than half of the global population does not have medical insurance. More than like five, like 4.3 billion people or something like that do not have medical insurance. Okay, you want to say? I want to say like less than 20% of the global population has life insurance. And the insurance industry is like a $9 trillion a year industry. And still there's a huge amount of people left over that they're not interested in helping. And so the demand is there. Now it's a question of how do we spread the word.
Strategic Partnerships
And to that end, obviously, we're using all the channels and most importantly is through partnerships. So we have very strong strategic partnerships with people in the crypto space. Now, we started with people in the crypto space because this is our industry. So we're partnerships with Chainlink, which you guys know is a huge player. We have partnerships with Circle Alliance, USDC. Again, another huge player. One of our key investors is Draper associates, Tim Draper nation, etcetera. And so we already, you know, we have these very strategic, important partners that will help us spread the word murad. It's all about doing the right campaign and organic campaign, sustainable campaign with relevant people in different countries.
Community and Market Engagement
As you know, the crypto world is like maybe one or 2% of the global population who's on chain. You know, people who are like, of course attached to crypto through an exchange is a different way. They don't have a wallet, they don't have much going on. So they have also difficulties. So I think because the crypto community is very, you know, supporting of each other's project. As Sharon was mentioning, there's many crypto projects who are coming to us and they want to ensure the community. As she mentioned, there's, for example, Draper nation who are building digital community, global citizen community. They will need an insurance. So we here to support them with insurance. They are lending processing company that are Sharia compliance and they provide liquidity to their members through a crowdfunding system.
Target Markets for Growth
Same thing. They need to find a way to ensure those level of failure that can happen during this process and travel. So it's all about building pocket of community in many nations that we see a big demand for a big adoption into crypto. We're looking at Indonesia, for example, Nigeria, Pakistan, of course, Europe. People in Europe are really into crypto and the US as well. So all this pocket of early believer into the crypto space where they try to run into that crypto things because there's a need for investing in bitcoin, ethereum, and they are, okay, where do I invest my money into different projects and how do I ensure myself? So this is how we go. It's really community driven.
Community Growth Strategy
Partnership, partnership and grow, I would say organically without all these bots and stuff like that. That doesn't make, it doesn't help a community to grow. Okay. And that's what is important for us. All right. Yeah. Thank you for sharing those insight strategy. And it's clear that Takao has a strong vision for scaling and reaching a global audience. Could you notice? So we have heard some incredible insight about Takarao so far, and already we touched some of the detail about the airdrop as well. But we would love to know about it in a brief. So could you please let us know the detail about Jakkada Airdrop and how can our user participate and what should they know to make the most of this opportunity?
Airdrop Details
Well, I encourage you guys to get onto our website, tekadao IO. So t a k d a o IO. From there you will see details about the air trap campaign that is currently live. So season one, I think we have like 4.5 million tokens that we will be giving away. You will have to do some quests and season one is quite straightforward, easy quest to complete. On the Galaxy platform, we will actually review new quests on a weekly basis so you can keep earning points. And in the run up to season two, we'll be announcing an ambassador campaign which will include a referral bonus for when actually you help us to get new members to the life dao.
Community Engagement and Growth Opportunities
And that is actually a cash USDC bonus. So there's lots of exciting things that are coming up. So stay tuned. Follow us on our socials, pay attention to what we're saying, and hopefully there's a lot of opportunity to grow a community. Both grow in terms of numbers, but also in terms of well being. Right? So we are in this together. If we do well, everybody should do well, and that's the point. And we know that if everybody does well, then we will do even better. And so this is always the end goal for us.
Tokenomics Structure and User Interest
Oh, shay, that's awesome. Thank you for sharing. And guys. Yeah, don't miss this chance. Grab the possibility to get the airdrop from Takada and be the early supporter. And don't miss this chance, otherwise you will regret. Definitely. It's a very wonderful project. So yeah, you can find more details on their website or their white paper. So yeah, please check that as well. And lastly, how are the tokenomics of the tech token structure to support both the growth of the Takadao ecosystem and the interest of its users?
Emissions and Allocations
I encourage you guys to read up on this on the website. So everything is there, the emissions, the allocations, etcetera. But let me just say this. So our goal is always to make sure it's a win for everyone. So whether it's for team and investors who have some token allocation, there's a vesting and a lockup period. So even though we are going to get some tokens, we cannot sell them for quite a long time. Like three years is the vesting period for the team and the founders and the investors, as in the equity investors. So we've really made it to favor the community, the airdrop.
Community-Focused Tokenomics
I think there's a 10% allocation for the airdrop, and that allocation has no lockup period. So once token generation happens and the airdrop is done and there's a listing, there's no lockup for the community. But of course, we give you reasons to keep your token, such as buyback and burn, such as staking, etcetera. But anyway, we have created tokenomics in order to benefit the maximum number of people. So definitely read up about it on the websites. And also, we're happy to hear whatever feedback you guys have.
Security Measures and User Protection
Thank you so much for this concise answer. Hope our community member got your answer. Moving on. Now it's time to start our life segment. Segment. I will unmute some of our listener and they will ask you the question. So the first speaker we have is crypto hunter. Go ahead and ask it out, please. Jim. Yes. Yes. Okay. Okay. So my question is, what steps, yeah. Is taking to improve financial education for your project in order to. Yeah. Education for its users? And are there any plans to offer more educational resources or tools to benefit your users?
Education Initiatives
As a matter of fact, education is incredibly important for us. So what we've done is create already as a first step, what is known as learn and earn. And it is something that you can find again on our website. And it just goes through crypto basics, etcetera. And additionally, we will have an ambassador program which will go even deeper into how does it work to play in the crypto space. So in addition to learning about cryptocurrencies and the web three space and techedao, you also, as an ambassador, learn how to create content, how to host events, et cetera, on behalf of Tecadao.
Importance of Training and Community Engagement
So this is again upcoming and a very key part of what we're going to do in season two of the adroit campaign. Apologies, I have a call. Murad, if you would. Yeah, so I think she said it all on the program is earn and learn. You can find it on our website. The good thing about it is that you're learning and you're earning and you understand first of all, the length on how crypto works and basic knowledge about wallet and different currency and of course, definitely talking a little bit about our project ourselves.
Security Measures for Asset Protection
Okay. Okay. Thank you for asking my question. I don't know. I have one last question. Can I proceed? Okay. Okay. So we know that normally security is really important in order to keep our assets and properties intact. So what measures are in place to protect your project from security and other vulnerabilities? Yeah, that's my question. Yeah. So we, first of all, we have our own internal audit team and strong and of course we are working with top security smart contract agency to verify and to secure our smart contract.
Bounty for Security Vulnerabilities
There will be also a Monty reward for people reporting bugs and helping us out. We live in a world where, you know, there is the evil and there is the good. So you will see people trying to arm any type of technology and you have a bunch of people who are here to support. So our battle to eradicate those bad, evil people will be encouraging people to come and protect through a bounty reward and everything, and working with top auditing company to secure the smart contract.
Awareness and Preventive Measures
At the end of the day, also, what is the most dangerous things for the crypto space is not really the technology itself. Is really the phishing people being able to come into your own, you know, wallet through getting you for phishing pizzas like awareness, but not opening any link that you don't trust. Verifying all the time that you're in the official links is the most preventive way to avoid this. But yes, we will work with top auditing smart contract auditing companies.
Summation and Future Engagement
Yes. Okay. Okay. Thank you for answering my question here with pleasant intentions. I also look forward to know more about your projects. Thank you. All right. Thank you, Kritra Hunter, for the question. Moving on, we have appear Omar here. Go ahead, please. Hello. Thank you for bringing me up. My question to Morad is, you know, like Takadao's decentralized insurance model is quite a complicated topic, especially when it comes to islamic jurisdictions.
Team Expertise and Contributions
So, like, how, who are your team members for Takadawo and how does their depth of experience and knowledge bring to the success and also contribute to the entire framework of Takadao? Very good question. Actually combined together in terms of knowledge of years, I think we accumulate maybe 100 years of insurance knowledge and actuarial, not myself, but the team. So we have actual team, professional guys that have been working for the past, maybe one of them, maybe 40 years, one of top talent in the industry who knows the in and out of actual model, the insurance space.
The Passionate Team Behind Takadao
We have the top people also in our team. We have been combining, like I say, years of knowledge, understanding. We really broke down the entire system to really make and create the real very solid protocol to make the most exciting, passion driven entrance model. So all the people in the team are not only professional, they are like super passionate about killing the traditional entrances them. I would say, in a way, I hope they are not listening to me, else we're in trouble. Second, when it comes to Shadiha compliance, of course, we surrender ourselves with the top people in the space who not only understand the shahiyah concept of it, but understand the underlying technology when it comes to crypto, the understanding of staking in the halal manners, non shadiha manners, and so on and so forth.
Sharia Compliance in Takadao
Of course, everything that we do within Takadao has the DNA of building sharia compliance product. If it's not sharia compliant, we refuse it right away and we move on and we do an internal audit and later on we will also validate all our process with external audit that will, I wouldn't say rubber stamp because it's not what we're looking for. We're looking for people pointing on every single thing that we're doing that is aligned with our belief system and religion. That is a no for everything. And then we have like now a team of 49. Now we got VC backed money to build up in a good way so we didn't have to raise capital on the token or crypto or whatever we wanted to build with very solid believer into the VC space. And those VC also bring a wealth of knowledge in the financial world, I would say, where they understand the need of the product that we're building.
Future Developments
Okay. And that could be a product that could be then used maybe by government themselves, you know, if we uplift the condition of government through our community based insurance. So, alhamdulillah, we have a great team and we execute. So you can see all the updates and if you are, you want to just prove us wrong or, you know, we're looking for that. People who are like very questioning and testing the product. Product will be live tomorrow. Please get on board, test it out, join forces with us and grab whatever airdrop you can as well. Happy to have you here. All right, that sounds convincing. And also, thank you for the answer. Most welcome, Muhammad.
Regulatory Compliance and Future Planning
Alright, thanks, Sumar. Moving ahead. We have appeared. Sparrow, go ahead, please. All right, good day, everyone. Nice to have me on the speaker panel. actually, I just want to add up to what Umar asked the previous question. it also, concerning the regulatory compliance. Well, my question is, does the Takada team have, does the Takada team have any other plans with the evolving crypto regulations and standards and also, you know, while maintaining a user friendly experience for the users in future says, I'm very sure that the Takadao team is not just planning for tomorrow. Definitely planning for the decades. So what I mean by the future, I mean in the next decade. I hope you get my question.
Regulation Challenges and Adoption
Yeah, maybe Sharon can add up on that. So look, when it comes to crypto or defi, the regulator is really behind it. You know, even if you come now with a project that we have and try to present it to any regulator, they'll be like, what are you talking about? It's like trying to create a spaceship. And they'll be confused for sure. But one thing they are not confused at all is that the transparency when it comes to blockchain, they understand blockchain for sure. But yet in terms of catching up with regulator, to be able to say, hey, that's it, we're going to give you a green line to operate is going to take some time. Okay. But what we see happening a lot in different countries, different jurisdiction, we start seeing like progressive country that they're like, hey, we need to start giving some kind of licensing to some type of crypto exchange and or whatever, you know, project.
Progressive Jurisdictions and Collaboration
So some of them are like Dubai, uni, Singapore, of course. I think there is a background noise, if we can. So those jurisdictions are starting to open up. And what they do, Bahrain, for example, UAE, what they do, they're like, okay, we need to start, you know, offering sandbox, okay, to a crypto project. That makes sense. So those jurisdictions, we've been in talk with them already, the Singapore jurisdiction and UAE jurisdictions. And what was exciting about what we find out with those guys, were kind of looking at what were doing with the first project that were building. We're building also decentralized lending protocol. They were like, wow, you know, you're not touching the money.
Security and Transparency
Not to think the fiat everything is on chain transparency is there. There's not a single point of failure. There's no risk of, you know, shutting down and taking things away. So they realized that because of the nature of the way and the way we build the product, were very secure for our community and for the community. So they were like, you know what, why you don't need a license as we speak now for the type of product that you're doing, completely decentralized, completely owned by the community and so on and so forth. We just, for them, they were looking at us as a technology protocol services, not a financial product that will fail to deliver.
Focus on Smart Contracts
And the only quite of liability that we had for them was like to have a very good and secure smart contract. So they were looking at us as like, you know, get a good auditing, make sure that you're not getting hacked or whatever. And then that's reliability on that main focus. And that's where we going. And as the time goes, you will see more regulator starting to understand what we try to build. As I say, we are building on blockchain. So everything is available and using smart contract so it's really open for them. And I think the future in the next ten years, as you mentioned, the future that will enable everything and every nation, every country to move on will be on chain.
Emerging Trends in Blockchain
If government don't move into blockchain, they will be considered a stone age nation. And what I believe that will happen in the next few years african nation will lead into the adoption of on chain blockchain government. Okay. And they will be leading into that respect, you know, because this is where the trend is going. So that's if this answer your question. Well, let me know. All right, sparrow, hope you got your answer. So last speaker of today's space is favor. Go ahead and ask it out please.
Integration of AI in Takadao
Yes, you are. My question is, are there any emerging technologies such as AI that Takadao plans to integrate into each platform to improve functionality or user experience? Thank you. Look, the future of blockchain is AI and the future of AI is marrying blockchain, basically. So definitely I think we've been approached by many great, great products that are AI focus and will definitely reduce the cost of doing so many things. So AI will definitely be part of Takadao. But I don't think that we need to reinvent the wheel and create and have an additional buzzword into what we already do.
Collaboration with AI Providers
So we will team up with the best in the AI space, decentralized AI's, to make sure that we update our solution and our services with great performance tools. Definitely. Yeah. So it's on the pipeline definition, but. We'Re not going to be just touch on that. There are two places in which we are already either planning or already implementing some form of machine learning and AI. So with the self adjusting underwriting model, it's already a form of machine learning. As we feed more data into it, we're actually going to start learning from it.
Data Collection Challenges
Now. The reason why we cannot do this today is because there isn't enough data. If there's one thing about insurance companies is they hold all the data and this is something they will never share with us and they don't share with each other as well, because for them it's a betting thing the more information they have, the better they are able to bet against you. So we need to collect the data. Once we have the data, then we can actually learn from it. So that's on the underwriting side. The other side is claims management.
Claims Management Innovations
Today, what we have is a verifier pool from within the membership itself. So the members themselves are verifying the claims through a double line process, anonymous process. Okay. This can be replaced with AI, really. But again, we need to train the AI. And for this we need a lot of data and a lot of previous claims being processed. And once more, you cannot get this from insurance companies because it's something that they will never share. But yeah, this is something that we have. It's already mapped out. It's just we don't have the data to execute on it today.
Key Features of Takadao
Let me just touch on the features again. We fundamentally change the way insurance works. So instead of being a profit driven product where you are betting against the insurance company, we're saying, hey, let's help one another instead. And let's not make it so that we have this incentive to get people paid and this incentive to help people. This means a couple of things happen. One, the costs are much cheaper because now we've taken the insurance company out of the picture. Everything is run by technology and smart contracts.
Community Ownership and Benefits
Therefore it's much cheaper and therefore much more affordable. And therefore we can be global from day one. That's incredibly important. And then, because everything is now machine learning and everything is now adjustable with the underwriting algorithm, we actually have a lot more flexibility. So I don't tell you what you must pay, you tell me what you want to pay and I'll tell you, okay, well, in that case, this is how much your family will get if something happens to you. So you can actually choose your own sort of contribution to the DAO then, and this is a very key important thing, is that any profits that accrue from the insurance operations, what we call the surplus, goes back to the members themselves.
Vision and Mission of Takadao
It's not ours. It's not some insurance company who swallow everything. It belongs back to the members. This is very important. And the last but not least is ownership. And who calls, makes the long term decisions, that is actually the members themselves. Now, we've built a system which obviously you cannot change the underlying, the fundamental system. You cannot say, okay, we're not going to do insurance anymore, we're going to do something else with the money. Or you cannot say, well, tomorrow we're not going to underwrite risk anymore.
Transforming Financial Services
We're just going to give everybody the same amount. You can't do that. However, there are some variables in which you can say, well, we can take a little bit more risk with our investments and everybody gets a vote on that if you are a member. So these are the key elements that make us incredibly unique and change how insurance is done completely. What is our mission and what is our vision? It's really quite simple. I think from my experience with institutions like insurance companies, central banks in general today, the financial system we have cannot be trusted.
Addressing Trust Issues
It's too profit driven and it resulted in the majority being hurt and the minority getting richer and richer. So I want to flip that upside down and I want to say let the people who use the product own the product and benefit from any profit that comes from the product. And that's really the mission is really to bring back the community ownership of the financial services that we use and they are only successful because of us. So why is it we are not getting a piece of the action? So that is, for me, the grand mission of Takadao. Thank you very much.
Conclusion and Community Engagement
I wish you best. Thank you so much. Thank you so much. All right, thank you fever for the question and it's time to wrap up now. So yeah, a huge thanks to all our guests and actually thank you for sharing your insight and giving us a dive into the innovative world of Takadao. Your passion and vision for transforming the insurance industry through blockchain have truly resonated with all of us. And of course, a big shout out to everyone in the community who joined us today. Your enthusiasm and question made this AmA even more engaging and insightful.
Looking Forward
We are excited to see like how you all will get involved and contribute to Takadao green ecosystem. So yeah, guys, take part in their airdrop. Follow all the social link, follow the to the handle of the, of course the x handle of the Taka dao. And if you have more question or need an assistant with anything related to the Taka, feel free to join all the channels for the latest updates and opportunities and let's continue this journey together as Takadao shapes the world of the future of insurance. Until next time, take care.
Final Thoughts from the Team
And yeah, guys, before wrapping up, do you want to say something to our community or offers a closing statement? Yeah, it was a pleasure to talk to everybody here. Super happy to be here tonight and lovely again. Thank you again for sharing our project. Luke. I'm easy findable on the Twitter LinkedIn. The project is there on the open. You can reach out. And thank you again for hosting us. Really appreciate it. Likewise, thank you again for spending your time with us and do join the Airdrop campaign and follow us on Twitter and reach out at any given time through telegram or discord.
Farewell
Have a good one, guys. All right. Bye bye. Yeah. Once again, guys, thank you so much for your valuable time, and I'll see you next time. Have a great day.
