ANN Unikrn's CEO was online today for a quick AMA re: Palladium and the future of Unikrn/UKG

CryptoTC

Crypto Fat Cat
Staff member
I’m not sold on this Palladium project. For token liquidity for crypto utility tokens like UKG, it seems beneficial to be able to easily buy and then use tokens. But for banking, it appears to me to just add another layer of middle men and fees when paying bills. I send fiat from my bank or use a credit card now.

Why would I want to send fiat to Palladium to convert to a crypto to then send payments when I can skip that last step and pay directly in fiat now? Especially if the recipient converts crypto back to fiat. Until that payment method narrows down to crypto income used for crypto payments, it isn’t ready for prime time use. And when I can finally get paid in crypto to spend, I will do so with a hardware wallet and no extra intermediary fees. Just my opinion of course.
 

Old Man Crypto

Expert chainblocker
I’m not sold on this Palladium project. For token liquidity for crypto utility tokens like UKG, it seems beneficial to be able to easily buy and then use tokens. But for banking, it appears to me to just add another layer of middle men and fees when paying bills. I send fiat from my bank or use a credit card now.

Why would I want to send fiat to Palladium to convert to a crypto to then send payments when I can skip that last step and pay directly in fiat now? Especially if the recipient converts crypto back to fiat. Until that payment method narrows down to crypto income used for crypto payments, it isn’t ready for prime time use. And when I can finally get paid in crypto to spend, I will do so with a hardware wallet and no extra intermediary fees. Just my opinion of course.
You go dude. :mad:
 

The CC Forums

Admin
Staff member
Healthy skepticism is, well, healthy.

Markets will sort out the good ideas from the bad ones. Services that make sense and come at good pricing will always come out on top. It remains to be seen if crypto banks will be legit or just another money grabbing ICO category. I agree with the idea that crypto is supposed to eliminate banks, not create more. It could bring banking to the world’s unbanked, but not by building more actual banks.

Exchanges and banks are creating tokens and bringing in more and more in trading fees and account costs. If decentralized peer to peer transactions are to become dominant, governments will have to endorse them and/or provide guidelines. Short of that, the banks and exchanges will prevail, undermining what crypto is about.
 

UrbaneUKG

Moderator
I’m not sold on this Palladium project. For token liquidity for crypto utility tokens like UKG, it seems beneficial to be able to easily buy and then use tokens. But for banking, it appears to me to just add another layer of middle men and fees when paying bills. I send fiat from my bank or use a credit card now.

Why would I want to send fiat to Palladium to convert to a crypto to then send payments when I can skip that last step and pay directly in fiat now? Especially if the recipient converts crypto back to fiat. Until that payment method narrows down to crypto income used for crypto payments, it isn’t ready for prime time use. And when I can finally get paid in crypto to spend, I will do so with a hardware wallet and no extra intermediary fees. Just my opinion of course.
Hello, Palladium is 3 entities a Bank, A crypto Exchange, and an EMI. For those in the EU and UK that want to have a bank account that can easily and direct give them access to a crypto exchange, this is great. They won't be subjected to as many fee's or as high of fee's as people are subjected to by attaching their debit cards to Coinbase and buying BTC, for example. They also won't have to wait anywhere near as long to transfer any fiat to crypto or crypto to fiat. So those are two advantages, also for us at Unikrn it gives us a direct fiat to UKG gateway we have been looking for as many of the direct purchasing options for UKG ends up charging people ALOT in fee's, this is a great alternative.

Also with this Bank and Crypto Exchange we will gain the attention and approval of regulatory bodies and governments so they can be more open to crypto currency and know that it can work both in business and in retail.
 

The CC Forums

Admin
Staff member
Hello, Palladium is 3 entities a Bank, A crypto Exchange, and an EMI. For those in the EU and UK that want to have a bank account that can easily and direct give them access to a crypto exchange, this is great. They won't be subjected to as many fee's or as high of fee's as people are subjected to by attaching their debit cards to Coinbase and buying BTC, for example. They also won't have to wait anywhere near as long to transfer any fiat to crypto or crypto to fiat. So those are two advantages, also for us at Unikrn it gives us a direct fiat to UKG gateway we have been looking for as many of the direct purchasing options for UKG ends up charging people ALOT in fee's, this is a great alternative.

Also with this Bank and Crypto Exchange we will gain the attention and approval of regulatory bodies and governments so they can be more open to crypto currency and know that it can work both in business and in retail.
Thanks for the update. I’ll let @CryptoTC chime in because I don’t know enough about the whole project. I agree that competition lowers fees. I agree it could be good for access to tokens not easily bought elsewhere.

Where I disagree is using it as a payment system. I envision getting paid to my Ethereum or bitcoin addresses without any fees. I then pay for goods and services by sending transactions from there using my Trezor, again without any fees other than network costs. My funds are safe from hacking and kept free of any extra fees or bottleneck of control. This is where crypto is headed, I hope.
 

CryptoTC

Crypto Fat Cat
Staff member
Perhaps I should restate my thoughts on this announcement. I remain optimistic about UKG adoption and use on the Unikrn platform. I think eSports betting announcements will bump start growth of token value.

The banking announcement is just a “meh” for me. I don’t see adding more exchanges as necessary for crypto growth and adoption overall. But I can see where making UKG more available and increasing liquidity will be necessary for adoption. Using a separate 3rd party system like this is good in that token price manipulation won’t be a concern. I had raised that on the Discord.

But the rest of the project just seems like, well, banking. More middle men. I recognize someone needs to trade UKG for me and others to buy and sell, I’m just not sold that we need more exchanges. But competition will likely lower trading fees, so...?

Put me down as neutral on Palladium but very bullish on UKG. If the former helps the latter, then I’ll come around. :D
 

BitFit

Contributor
Video won’t play for me. It just gives me a Facebook link that won’t load?

What did I miss? Seems controversial for this thread. Unikrn and ukg good or bad?
 

Old Man Crypto

Expert chainblocker
Video won’t play for me. It just gives me a Facebook link that won’t load?

What did I miss? Seems controversial for this thread. Unikrn and ukg good or bad?
It still plays for me. Maybe contact tech support here. Says Unikrn is creating a bank in partnership with Bittrex where you can buy cryptos or use cryptos to pay for stuff. I think the UKG buyers didn’t think the news was exciting or related to what they think is Unikrn’s real focus which is gambling on eSports. At least I gather that from PM’s with @CryptoTC who can probably explain this thread better.
 

BitFit

Contributor
It still plays for me. Maybe contact tech support here. Says Unikrn is creating a bank in partnership with Bittrex where you can buy cryptos or use cryptos to pay for stuff. I think the UKG buyers didn’t think the news was exciting or related to what they think is Unikrn’s real focus which is gambling on eSports. At least I gather that from PM’s with @CryptoTC who can probably explain this thread better.
OK, I’ll have to get this fixed. Wonder how many other things I’m not seeing here.

Also hopefully the others in this thread can explain the issue with the crypto bank. I do see the above about centralized banks but anything that helps with adoption seems good to me.
 

UrbaneUKG

Moderator
The video plays for me.
As far as being neutral on Palladium, that's fine, we're just spreading the news and I think it will do wonders for people and help us gain acceptance with high forms of government.
News that will excite UKG token holders is still in the works for this month, and as such this is not meant to become the Unikrn and Palladium forum lol
 

silk35

Contributor
As for the banking part itself, I think the biggest advantage Palladium will have is the fact that you can store all sorts of currencies in a single wallet. Currently, if you hold multiple coins it also means you hold multiple wallets and private keys. How is this possible? It's because it will be running on the Unikrn wallet technology.

At the very least, the partnership with Unikrn helps with brand recognition. This venture is making people sit up and pay attention. I mean, the President of Malta was speaking at the unveiling. How many crypto projects have had that kind of endorsement?

Do I wish it was more of a UKG centric announcement? Sure I do. Since Unikrn has taken a stance on not shilling, as a utility token, UKG's success will be depended on how many people are using the coin. As it should be.

Palladium will help with making UKG easier to obtain and as Unikrn is a partner, it will probably be one of the first token paired with fiat.

UKG betting is ready to be rolled out, just waiting on the regulators. ChallengeMe.gg will be switching to using UKG and also teased a new way to earn UKG. Before 2018 is over, there will be more utilities for UKG.

2018 is basically the laying the foundation phase in regards to Unikrn and UKG. Cant wait to see the results when they actually start to seriously market the Unikrn platform.
 

CryptoTC

Crypto Fat Cat
Staff member
The video plays for me.
As far as being neutral on Palladium, that's fine, we're just spreading the news and I think it will do wonders for people and help us gain acceptance with high forms of government.
News that will excite UKG token holders is still in the works for this month, and as such this is not meant to become the Unikrn and Palladium forum lol
As for the banking part itself, I think the biggest advantage Palladium will have is the fact that you can store all sorts of currencies in a single wallet. Currently, if you hold multiple coins it also means you hold multiple wallets and private keys. How is this possible? It's because it will be running on the Unikrn wallet technology.

At the very least, the partnership with Unikrn helps with brand recognition. This venture is making people sit up and pay attention. I mean, the President of Malta was speaking at the unveiling. How many crypto projects have had that kind of endorsement?

Do I wish it was more of a UKG centric announcement? Sure I do. Since Unikrn has taken a stance on not shilling, as a utility token, UKG's success will be depended on how many people are using the coin. As it should be.

Palladium will help with making UKG easier to obtain and as Unikrn is a partner, it will probably be one of the first token paired with fiat.

UKG betting is ready to be rolled out, just waiting on the regulators. ChallengeMe.gg will be switching to using UKG and also teased a new way to earn UKG. Before 2018 is over, there will be more utilities for UKG.

2018 is basically the laying the foundation phase in regards to Unikrn and UKG. Cant wait to see the results when they actually start to seriously market the Unikrn platform.
It is an important move, and anything that increases attention and availability of UKG specifically is of interest to me since I hold UKG. But as a concept I personally am not interested in a new crypto bank. Maybe the rest of the world is though. Why couldn’t Binance and Bittrex just add these services now that they’re in Malta?

Color me skeptical about yet another coin offering. With the money Bittrex and Unikrn brought in over the last year, they could build this out without a new fund-raising round. The conversion to a security is unique and possibly ground-breaking. I will be interested in seeing if other projects can go this route. Remember 85% of ICO’s are either scams or fail soon after launch. Remains to be seen where Palladium fits; strong team but they are trying to create a market that doesn’t exist. One that other players can enter quickly at the first hint of success.

We’ll see I guess. Still big on Unikrn, just meh on palladium.
 

silk35

Contributor
It is an important move, and anything that increases attention and availability of UKG specifically is of interest to me since I hold UKG. But as a concept I personally am not interested in a new crypto bank. Maybe the rest of the world is though. Why couldn’t Binance and Bittrex just add these services now that they’re in Malta?

Color me skeptical about yet another coin offering. With the money Bittrex and Unikrn brought in over the last year, they could build this out without a new fund-raising round. The conversion to a security is unique and possibly ground-breaking. I will be interested in seeing if other projects can go this route. Remember 85% of ICO’s are either scams or fail soon after launch. Remains to be seen where Palladium fits; strong team but they are trying to create a market that doesn’t exist. One that other players can enter quickly at the first hint of success.

We’ll see I guess. Still big on Unikrn, just meh on palladium.
One thing you want to bear in mind. The reason for the crowd funding is because this is not a Unikrn or Bittrex company. It's a separate business entity that Unikrn just happen to own a 15% stake. And also why the Unikrn wallet tech is being licensed to Palladium. Like you said, it's the first of it's kind so only time will tell.
 

BitFit

Contributor
I’m working on this. Your username has a few settings a little different than others. Sending you PM with some questions.
Thanks. Video works for me now. To be fair, I think it was my network messing it up and not the site.
 
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