The innovative platform will empower consumers, governments, and business to manage, issue and verify digital identity and personal data.
KABN Systems NA Holdings Corp. ($KABN), is a North American Fintech solutions company specializing in empowering individuals to manage, control and generate value from their biometrically-verified Self Sovereign Identity ("SSI") through its Liquid Avatar (www.liquidavatar.com) platform, is pleased to announce that it has entered into an agreement with Delaware based PBC (Public Benefit Corporation), Indicio (https://indicio.tech/), a professional services firm specializing in decentralized identity architecture, engineering, and consultancy. Together, the team will build and launch the Liquid Avatar Verifiable Credentials Ecosystem ("LAVCE"), to support and enable online identity assurance which includes a digital credentials wallet and platform for issuers, verifiers, and individuals to support the issuance, verification, and management of verifiable credentials for digital identity.
KABN believes that digital identity is addressable to 100% of the online market. This solution is one of the first global platforms to support governments, healthcare, workplaces, hospitality and other businesses and organizations as they begin to issue digital credentials and to empower users, at no cost, to manage and take full control over storage and use of these credentials, their digital identity, and personal data.
Using the LAVCE, individuals, or "holders" will be provided with a digital wallet that will be able to, within Liquid Avatar, support a wide range of verifiable identity and other digital credentials based on the Trust over IP (www.trustoverip.org) open-source governance and technology stacks, to which KABN is a steering committee member, and industry standard data models.
Together, with the Liquid Avatar app and its high-quality digital image icons that can represent various facets of a user's personality, the system will usher in new tools and services to create verifiable digital identities allowing for new and innovative ways for users to create a holistic profile of themselves that they manage and control, through self-defined personas. KABN North America will pay for the build and operate the LAVCE and the new verifiable identity credentials program creating an open-source solution to drive industry adoption and support standards that everyone can build to. This program is expected to ultimately replace the Company's current KABN ID solution.
"With over 5 Billion people online and about 400 million people in the US and Canada the world continues to get smaller through increased digital presence and opportunities. Providing individuals with a no-cost service that allows them to prove who they are and verify, manage, control and generate value from their digital identity has the potential to create significant consumer and commercial opportunities," said David Lucatch, CEO KABN North America. "The creation of the LAVCE and our new digital identity credentials align with our goal to make Liquid Avatar engaging and simple to use as governments and industry continue to move swiftly towards adopting increased levels of security, regulation and compliance, enabling consumers to control their identity and data usage. This program also supports our industry efforts with the Trust over IP Foundation, Lumedic Exchange and other company efforts."
Liquid Avatar will be releasing its live, open beta app globally in Google Play and Apple App Store on February 18, 2021, subject to all final approvals. The LAVCE is expected mid-spring as part of Liquid Avatar's ongoing release schedule.
Using the LAVCE, issuers, like governments, workplaces, financial services, and others will be able to issue verifiable credentials that are linked to a holder's verifiable identity credential, creating a higher level of security and safety. Verifiers who want to make sure that an individual has the credential and is who they say they are will be able to scan a Liquid Avatar icon and to request a verifiable presentation to determine acceptance.
"We are excited to be working with KABN and the Liquid Avatar team to build and deploy the Liquid Avatar Verifiable Credential Ecosystem to enable issuers, verifiers and consumers to use verifiable credentials to deploy digital identity solutions that preserve privacy while enhancing security and safety," said Heather Dahl, CEO Indicio
"Liquid Avatar and the LAVCE will potentially provide a paradigm shift in the way that individuals manage, control and use their digital identity and will be interoperable with a host of emerging ecosystems and solutions through its open-source protocols," said RJ Reiser, Chief Business Development Officer KABN North America. "We believe that our digital wallet will be a foundational piece that will empower consumers to fight against fraud in all its forms. Working with Indicio and its world-class, industry leading team, we will be creating one of the world's first consumer facing digital wallet programs that will enable issuers, verifiers and consumers to easily and simply adopt and deploy verifiable identity and additional credentials solutions."
Liquid Avatar, available at no cost to consumers, makes it easy for individuals to start and maintain the process of managing their SSI/digital identity while giving users the ability to share it with their friends, family, colleagues, and others easily, safely, and cryptographically secure through biometrically enabled Self Sovereign Identity tools and services.
The Liquid Avatar platform allows users to create high quality digital icon representations of the various facets of their online personalities and identity, which can be used to easily share what they want, when they want, and with whom they want. Liquid Avatar users will also be able to create digital wallets to manage and store a wide range of verifiable identity and access credentials, and to take their conventional identity online, allowing users to prove themselves as easily and effectively as they do in the "physical world".
As a verified platform, an individual user of Liquid Avatar can only have one account (with possibly multiple digital personas) which potentially reduces the ability for bad actors to create bots and fake accounts. Liquid Avatar users know that when they use and interact with other Liquid Avatar users, they are dealing with real, known people.
Liquid Avatar users are able to select from 1000's of combinations of facial features to create their perfect digital representations of themselves - all at no cost. Users can also visit the Liquid Avatar Marketplace (www.liquidavatarmarketplace.com) if they are interested in purchasing custom icons from leading pop-culture, anime, and comic book artists. In the future, users will also be able to upload certain personalized images and logos to represent their avatars.
While Liquid Avatar is free to consumers and KABN and Liquid Avatar never sells or rents data, the Company believes that verified, known users can create increased value for themselves and select marketers and vendors as they look to reach real people and not fake users or bots. Through the Liquid Avatar platform and approved, permission-based communications, Liquid Avatar will offer up value-based opportunities users can select. At the same time, Liquid Avatar partners who want to reach real, known users will be willing to provide increased value as they won't be spending money to reach fake users and bots.
KABN also has its KABN KASH rewards and loyalty program, with over 300 major online vendors, that will provide Liquid Avatar users with cash back incentives for purchases they make through KABN KASH. This program, together with the KABN Visa Card (initially available in Canada with the US and other regions under review), provides users with new and innovative ways to create and earn value.
KABN will earn potential revenues through card transaction fees, comarketing, bounties, commissions, and other fees paid by partners and vendors. The Company believes that other consumer and revenue programs will emerge as Liquid Avatar gains traction in the market.
Liquid Avatar will launch in phases, as the Company prepares and tests additional service and program offerings to make it easier for users to become familiar with the Liquid Avatar platform, Self Sovereign Identity and Verifiable Credentials.
KABN North America has a suite of revenue generating programs that support the Liquid Avatar program, including KABN KASH a cash back and reward program that has over 300 leading online merchants and coming soon, an integrated offering engine. In Canada, KABN also has the KABN Visa Card, a "challenger banking" platform that allows users to manage and control a range of financial services for traditional and digital currencies. The Company is currently exploring expansion of the KABN Visa program to other geographic regions, including the USA.
Disclaimer: Please do you own research, this is not investment advice.

KABN Systems NA Holdings Corp. ($KABN), is a North American Fintech solutions company specializing in empowering individuals to manage, control and generate value from their biometrically verified Self Sovereign Identity ("SSI") through its Liquid Avatar (www.liquidavatar.com) platform, is pleased to announce that it has entered into an initial agreement with the Gibraltar holding company of London, UK and St. Michael's, Barbados based Tokenise International Limited ("Tokenise") (www.tokenise.io), a multi-jurisdictional regulated financial services organization.
Together, the Companies are working on initiatives to integrate Liquid Avatar with Tokenise and issue verifiable identity credentials to account holders and to use these credentials to gain access to Tokenise financial and brokerage services and other related platforms, starting in the UK and Barbados.
Tokenise operates Kession Capital Limited, a London-based broker dealer that is authorized and regulated by the Financial Conduct Authority in the United Kingdom. Tokenise offers issuers and investors the ability to tokenize crowdfunding programs through the purchase, sale, and exchange of blockchain based securities. Kession also acts as a UK conduit to the Tokenise Stock Exchange, a fully regulated stock exchange in Barbados providing global primary issuance and secondary market trading, promoting financial inclusion and asset diversification, and focusing exclusively on tokenized securities and Tokenise Brokerage to support the onboarding efforts of global investors. Tokenise is also exploring expansion opportunities into Canada.
With Digital Identity applications addressable to up to 100% of the online market, the financial services market is a primary opportunity for Liquid Avatar's Verifiable Credentials Ecosystem announced earlier this month. By accessing a biometrically enabled verifiable identity credential that a user can store in their Liquid Avatar wallet, Tokenise will be able to verify and validate customers allowing them to securely and safely access their accounts based on their known and verified digital identity. The program is expected to commence by early Q3 2021.
Tokenise provides customers and blockchain based issuers with a safe, secure, and regulated supported environment to purchase and exchange securities and is considered to be the first global digital Self Regulated Organization ("SRO") to focus exclusively on tokenized products.
The Tokenise Stock Exchange will support a wide range of company and program listings including but not limited to tokenized real estate, art, collectibles, businesses and enterprises, celebrity and influencer ventures, cannabis and potentially psychedelics initiatives, digital currency ETFs, and other digitized assets.
"With the rise in awareness and acceptance of digital currencies, like Bitcoin, Ethereum and other Altcoins, it naturally follows that investors will want to investigate and potentially invest in blockchain based securities and Tokenise is eager to support this global, growing opportunity," said Mike Kessler, CEO, Tokenise International Limited. "The Liquid Avatar platform and its verifiable identity credential provides Tokenise with a potentially effective and efficient way to continuously verify our customers and afford them increased security and safety to manage their digitized assets."
Liquid Avatar will be releasing its live, open beta app globally in Google Play and Apple App Store on February 18, 2021, subject to all final approvals. Liquid Avatar will launch in phases, as the Company prepares and tests additional service and program offerings to make it easier for users to become familiar with the Liquid Avatar platform, Self Sovereign Identity and Verifiable Credentials.
"We are excited to have the opportunity to work with Tokenise to support their growing global needs for customer verification and validation and account authentication," said David Lucatch, CEO, KABN North America."We believe that by linking Liquid Avatar and verifiable identity credentials, users can use their biometrics and digital credentials to sign in and access their accounts from multiple devices anywhere in the world, potentially providing increased protection of their digital information and valuables."
Liquid Avatar, available at no cost to consumers, makes it easy for individuals to start and maintain the process of managing their SSI/digital identity while giving users the ability to share it with their friends, family, colleagues, and others easily, safely, and cryptographically secure through biometrically enabled Self Sovereign Identity tools and services.
The Liquid Avatar platform allows users to create high quality digital icon representations of the various facets of their online personalities and identity, which can be used to easily share what they want, when they want, and with whom they want. Liquid Avatar users will also be able to create digital wallets to manage and store a wide range of verifiable identity and access credentials, and to take their conventional identity online, allowing users to prove themselves as easily and effectively as they do in the "physical world".
As a verified platform, an individual user of Liquid Avatar can only have one account (with possibly multiple digital personas) which potentially reduces the ability for bad actors to create bots and fake accounts. Liquid Avatar users know that when they use and interact with other Liquid Avatar users, they are dealing with real, known people.
Liquid Avatar users are able to select from 1000's of combinations of facial features to create their perfect digital representations of themselves - all at no cost. Users can also visit the Liquid Avatar Marketplace (www.liquidavatarmarketplace.com) if they are interested in purchasing custom icons from leading pop-culture, anime, and comic book artists. In the future, users will also be able to upload certain personalized images and logos to represent their avatars.
While Liquid Avatar is free to consumers and KABN and Liquid Avatar never sells or rents data, the Company believes that verified, known users can create increased value for themselves and select marketers and vendors as they look to reach real people and not fake users or bots. Through the Liquid Avatar platform and approved, permission-based communications, Liquid Avatar will offer up value-based opportunities users can select. At the same time, Liquid Avatar partners who want to reach real, known users will be willing to provide increased value as they won't be spending money to reach fake users and bots.
KABN NA also has its KABN KASH rewards and loyalty program, with over 300 major online vendors, that will provide Liquid Avatar users with cash back incentives for purchases they make through KABN KASH. This program, together with the KABN Visa Card (initially available in Canada with the US and other regions under review), provides users with new and innovative ways to create and earn value.
KABN NA will earn potential revenues through card transaction fees, comarketing, bounties, commissions, and other fees paid by partners and vendors. The Company believes that other consumer and revenue programs will emerge as Liquid Avatar gains traction in the market.
Interested individuals can sign up for Liquid Avatar and receive information and notices on upcoming releases and services by visiting www.liquidavatar.com
Disclaimer: This is not investment advice, please do your own research!

Nexo founder on importance of crypto lending insurance and the differences between the 2017 and 2020 Bitcoin bull run

News Desk · December 9, 2020 at 8:00 am UTC · 1 min read📷

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CryptoSlate recently had the opportunity to chat with the Managing Director of Nexo, Antoni Trenchev.
Nexo is a leading digital asset company best known for providing the world’s first instant crypto credit lines. Prior to catching the blockchain bug in early 2013, Trenchev studied finance law at King’s College London and Humboldt University of Berlin. After college, he worked in the hedge fund industry before turning his attention to financial technology, becoming the chief innovations officer at Credissimo, a European fintech group specializing in online consumer lending that was an early backer of the Nexo enterprise.
As a member of Bulgaria’s parliament, Trenchev advocated for progressive legislation to enable blockchain solutions for a variety of e-government services, most notably e-voting and the storage of databases in a distributed ledger.
In the interview we discuss:

• How Trenchev got started in crypto
• Why Nexo’s management team operates out of London
• Nexo’s notable achievements and product roadmap
• Why and how Nexo offers insurance on user funds
• How Nexo is working to prevent a similar loss-of-user-funds incident as the one that happened at Cred
• Biggest challenges of building a crypto lending platform
• What blockchain developments Trenchev is most excited about
• Trenchev’s crypto predictions for 2021 and beyond
• Biggest obstacles for mainstream adoption
• Differences between the 2017 and 2020 Bitcoin bull run
• Trenchev’s most controversial opinion relating to blockchain

Disclaimer: Nexo is an advertising partner for CryptoSlate but this is not a sponsored post.

Interview with Antoni Trenchev, Nexo Managing Partner

What is your professional background and how/when did you get into crypto?
Antoni Trenchev
Before entering the blockchain space in 2011, I studied Finance Law at King’s College London and Humboldt University, Berlin, and then worked in the hedge fund industry. Having always had a concurrent interest in all things tech, I gradually got involved in fintech and quite naturally became a crypto enthusiast.
My belief in blockchain’s potential for positive change led me to run for office in my home country, Bulgaria, where I served as Member of Parliament between 2014 and 2017, advocating for progressive legislation to implement blockchain solutions for e-government services, including e-voting and storage of databases in a distributed ledger.
My experience over those few years gave me a well-rounded vision of what finance and the economy of the future should look like, and I wanted to be part of shaping that future. I joined the leadership team that launched Nexo in 2017 and shortly after, we made the first steps in that direction by launching the platform in April 2018. We now manage $2 billion in assets for over a million users worldwide and actively push for mass crypto adoption by making our offering ever-broader and more accessible and acting as a spokesperson for the space.
Where is your team located and why did you choose that jurisdiction?
Antoni Trenchev
Оur management team mostly works out of London, where our headquarters are. Besides London’s growing fintech and crypto scape, this makes a lot of sense for us as we’re a global business – we can easily hop on a plane and get just about anywhere.
Having said this, and considering the fact that we serve over 200 jurisdictions, we have offices all over the world, including in Switzerland, the US, and in my home country, Bulgaria, where some of our key operations, like our Communications and our Customer Support teams are primarily based.
How does Nexo decide which crypto assets to list on its platform?
Antoni Trenchev
Like any sensible business, we strive to create the products that our clients want and need. At the same time, we make sure to protect our clients and the business. Because of this, we have approached the integration of new assets to our platform in two ways.
The first is by asking our community to vote for the asset they wish to see next on Nexo. We initially conducted such polls on the Nexo website and we have now extended the practice to asking our Twitter community about the assets they use and want to see integrated.
Our in-house specialists also play a big part in selecting new assets for integration. Our team is great at identifying legitimate cryptocurrencies and digital assets with progressive characteristics and growth potential. These are the assets we are eager to support. In approaching asset integration like this, we provide our clients with quality services that they’ve already confirmed they want, ensure the safety and legitimacy of our platform, and propel the adoption of crypto.
What are some of Nexo’s notable achievements and/or milestones?
Antoni Trenchev
When we launched Nexo in 2018, we were the first company to provide instant crypto credit lines, basically carving out the market niche. This was our first accomplishment and one we’re still extremely proud of. We also backed the first mortgage in crypto, so Brock Pierce could purchase a house — that was a huge step both for us and for the space.
We’re not ones to rest on our laurels though and we’ve been on quite a roll since. Over the past few months alone, we launched our Earn on Crypto & Fiat suite, distributed our third dividend, which brought the total funds Nexo has shared through dividends to $9.5 million, and started Nexonomics — a comprehensive tokenomics overhaul, which came with interest rate bumps for Earn, an Earn in NEXO option, a new loyalty program, and most recently — a $12 million buyback program.
Thanks to these efforts, we now boast industry-best yields on most cryptocurrencies, stablecoins and fiat, our native NEXO token’s price has risen by over 185% since the launch of Nexonomics, and we presently manage $2BN in assets for over 1M users, across 200 jurisdictions. This is up until now — we have more launches and announcements coming up by the end of 2020.
What are the benefits of using Nexo as opposed to other crypto lending platforms?
Antoni Trenchev
When compared to a number of other players in the blockchain space, we have a sustainable business model that makes sense, that is based on best practice from traditional finance — an industry that is as old as time. Within the management team of Nexo alone, we probably have a century’s experience in finance between us, and Nexo’s model is based on the best of that experience.
We are self-sufficient in that we don’t rely on venture capital, i.e. access to cheap and easy money. In contrast, there are players in our space that have taken the worst out of traditional finance — those who have billions of transactions, yet at the same time, their CEOs take unsecured loans from their own companies to, say, buy houses in prime locations. Those companies are often on the verge of bankruptcy, needing fresh capital every few months to keep the house of cards upright. A more colloquial term for this is a Ponzi scheme.
But unlike most of our competitors, we maintain our policy of only lending on an over-collateralized basis, because this ensures we protect both our clients’ assets and our business, making us sustainable in the long term and accountable for our footprint in the blockchain space. This is because we believe that, ultimately, it is the sustainable companies that will emerge as the next Amazons, the next Googles, and the next Apple. Those who share this belief and have the patience and realistic expectations of what is possible will be the ones like those who bought Apple in ‘97 for a dollar a share.
That’s the holistic view. If we are to go into the details of our products, our sustainable business model means that our Instant Crypto Credit Lines continue to dominate the industry with their flexibility and low rates. We charge 5.9% and allow clients to withdraw as much or as little funds as they want from their available credit, while only getting charged interest on what they actually use. To the best of my knowledge, currently, we are the only lender that offers dynamic credit lines as opposed to loans that saddle users with a series of commitments.
When it comes to savings accounts, we offer both the best rates in the industry – up to 12% – and the most advanced security for digital assets, so keeping funds with us is a real no-brainer. As explained in answers to your other questions, we have top-tier insurance and military-grade security for the Nexo Wallet and stringent lending policies — all assets held with us are backed by our 200-500% overcollateralized credit lines, which, on top of all the security measures and insurance, guarantees the safety of your funds through the oldest, and most sustainable trick in the book.
What can you tell us about the Nexo product roadmap? What upcoming features are you most excited about rolling out?
Antoni Trenchev
I’m really excited to say that Nexo will soon be launching our very own internal exchange. It will allow our users to trade between various assets without having to leave the Nexo platform.
This is something our community has been asking for for a long time, and we’re on the last stretch of its development, so be on the lookout for the announcement.
Alongside the exchange, we have more Nexonomics releases coming up, which aim to further boost the utility and growth potential of the NEXO Token and are preparing for the release of the Nexo Card. In the mid-to longer term, we are also developing our prime brokerage suite and working towards acquiring bank licenses, which will allow us to offer 360-degree commercial banking services.
Does Nexo offer insurance on user funds?
Antoni Trenchev
“Safety first” is a key principle in financial services, especially in a new industry like crypto and digital finance where we don’t yet have the full perspective on all the possibilities and vulnerabilities. This is why insurance is a must at Nexo. We presently get ours through BitGo, who is a leader in crypto custodianship. In addition to providing us with 100% cold storage, BitGo provides top-tier insurance for all assets held at Nexo through Lloyd’s of London.
With so many hacks and examples of poor financial practices making the headlines in our space, it should be obvious to all by now how unfortunately things can end when you forgo insurance and proper security. In addition to using BitGo, we only lend on an overcollateralized basis, conduct thorough KYC via our partner Jumio, and have very strict security measures in place internally. We’re currently also finalizing deals with additional wallet management solution providers, which will further boost our insurance and the security of our clients’ assets, аs well as looking into setting up a proof-of-reserves mechanism to give clients additional reassurance.
Although many of our partners have classified us as a “boring Swiss bank” due to our strict policies with regard to security and risk management, I’m quite proud of the example we’re setting and am confident that, as the “wild west” days of crypto come to an end, it will be an example that leads the industry into a bigger, better, and more sustainable future. We have never been hacked, which goes to show that “being boring” works. On a personal note, it helps me sleep at night knowing that our clients and the business I’ve contributed to building over the past three years are protected.
Given what happened to crypto lending platform Cred recently, how would Nexo prevent a similar event from happening?
Antoni Trenchev
Cred created quite a ripple in the crypto lending industry, there’s no doubt about it. The loss of trust that ensued from this case has, I’m sure, negatively impacted every single player in our field, as well as the space in general. On the positive side, it’s a case that should unite the industry — we now have an even greater responsibility to rebuild this trust and must each do our bit towards this, as it is a setback for mass crypto adoption, which should be the goal for every participant in our space.
Let me expand on the topics I touched upon in the previous question to highlight why Nexo sets a good, if not the best, example with regard to security and why a Cred scenario is so highly unlikely.
Unlike most of our competitors, we maintain our policy of only lending on an over-collateralized basis because this ensures we protect both our clients’ assets and our business, making us sustainable in the long term and accountable for our footprint in the blockchain space.
To keep operations in line with our mission and policies, the safety of our clients’ funds must be a top priority. This is why our cold storage wallets are kept in bank-grade Class III vaults, provided by BitGo, whose platform is SOC 2 Type 2-certified. This is further enhanced at Nexo’s end by authentication features such as biometric-based identity verification and segregated multi-signature cold wallets.
We work with leading custodians including BitGo to guarantee top-tier insurance amounting to over $100M, so that whether it is a third-party hack, an insider theft, or whether private keys are lost or copied, the funds kept with us remain protected. Additionally, we are in the advanced stages of further growing our custodian partners and significantly increasing the insurance coverage on clients’ assets.
Our information security management system (ISMS) has been successfully audited by CISQ, a member of IQNet and the world’s largest provider of management system certification, and by RINA, who have decades of experience in certifications, ensuing in an ISO/IEC 27001 compliance certificate. This guarantees that our security infrastructure is of the highest standard and carries minimal risk to clients and investors thanks to rigorous security policies, impeccable risk assessment, data protection, and state-of-the-art cybersecurity.
Our own extensive firewall server architecture, combined with a stringent Employee Access Policy built on conditional enrollment and compliance status-based access to applications, multi-factor authentication (MFA), and step-up authentication, further ensure that no breaches to our infrastructure occur. Our staff also undergo regular cybersecurity workshops to keep them up to speed with the latest security threats. To prevent so-called “insider jobs”, very few employees have access to clients’ assets and even for those that do, MFA and step-up authentication ensure that no employee can act individually and in isolation to the established chain of command.
Additionally, to comply with international “know your customer” (KYC) and anti-money laundering (AML) regulations and protect our clients’ assets, we verify account holders’ identities. While this is a requirement for traditional financial institutions, it is not yet one for crypto industry players. We choose to perform KYC and AML checks, and do so via our partners Jumio and Onfido – two leading identity verification providers working with global clients, including Monzo, Rappi, and HSBC — as we believe this to be best practice and fundamental to the institutionalization of the space.
Maintaining an impeccable safety and security record is key to our pursuit of a banking license, which we are in the advanced stages of acquiring. As you can imagine this requires us to have audited financials, strict internal policies, and procedures, as well as to comply with multiple regulatory requirements. With this in mind, and in light of the events preceding Cred’s Chapter 11 filing, we’re planning on setting up a proof-of-reserves mechanism to further reassure clients with respect to their assets’ security. We’ll be announcing further details soon.
Another aspect of ensuring the security of a platform that’s often overlooked is educating account holders on how to best keep their information safe and reminding them that it is as much their responsibility as ours to safeguard their accounts — we’re talking basics like using a strong password, enabling two-factor authentication, controlling all login credentials to Nexo, taking offers that seem too good to be true with a pinch of salt and, generally, having a sound understanding of both finance and technology.
What are the biggest challenges of building a crypto lending platform for crypto users?
Antoni Trenchev
There were a number of challenges to overcome when we were creating Nexo. The biggest one, which remains an issue in the cryptocurrency industry, was building trust in an area notorious for hacks, scams, crime and money laundering. People are understandably very hesitant to place their money into new, unknown platforms especially when few people have the technical knowledge to understand blockchain – so proving ourselves to be reliable and trustworthy has been a process and we’re pleased with our progress to date.
Additionally, building a simple and attractive user experience is important to attract and hold on to new users, cryptocurrency is a complicated industry to most everyday consumers so simplifying it, and making it usable and attractive to users has been a real challenge.
What other projects and/or blockchain developments are you most excited about?
Antoni Trenchev
Besides our own developments — the Nexo exchange, the card, the next installments of our Nexonomics campaign, the prime brokerage suite, and, of course — on a more macro level, Bitcoin storming through the borders of the crypto space and into mainstream finance with institutional investment behind it, what I’m especially excited about seeing over the next few months is how Defi progresses.
Defi has been the most controversial dimension of our space over the past year — on the one hand, it has witnessed exponential growth in a matter of months and, at its core, it very much epitomizes the principles that the crypto space stands for. Perhaps extremely so, but it encompasses the essence and ethos of what a crypto can bring to the world of finance — true democracy, a shared economy, power to the unbanked. At the same time, it is fraught with risk. It is not user-friendly. It needs work.
While I firmly believe in what Defi stands for, I am no idealist. It has a long way to go before it is fit and palatable for mainstream consumption — especially by way of security and UX. These are the areas in which I think Cefi and Defi can and must work together — they are not mutually exclusive, as has so often been said. They stand to gain a lot from each other and it is only in working together that they will truly benefit the crypto space and propel it into the mainstream.
In a nutshell, I cannot wait to see how Cefi and Defi strike a golden mean and the results that will follow.
Do you have any blockchain and/or crypto predictions for 2021 and beyond?
Antoni Trenchev
As I’ve said many times before, I’m not the biggest fan of predictions. That said I do believe Bitcoin, the biggest cryptocurrency, will go up a lot. At the start of 2020, I made a prediction that it would reach $50,000 by the end of the year. Given COVID-19 and the rather shaky economic situation, it’s only just now that Bitcoin is entering a bull run and circling the $20,000 threshold. So it may be coming with a slight delay, but I still think BTC is heading towards $50,000 and the climb to that height is not far.
Besides the previously mentioned developments that I expect and am excited to see unfold, I also feel like 2021 is the year where we will edge closer to mass adoption and, in many ways, the COVID-19 crisis has played a positive role in this respect. Many investors — primarily smart-money institutional players, but also tech and finance-savvier retail users — are looking for ways to beat inflation as governments keep pumping fiat into the economy to cushion the impact of the pandemic.
What are the biggest obstacles for the mainstream adoption of crypto?
Antoni Trenchev
Besides user-friendliness and security issues that make the headlines, insufficient financial literacy on the retail front is, I feel, a big impediment to mass crypto adoption.
The cryptocurrency market is still in its infancy, which brings with it both an overpowering sense of possibility and a lack of understanding. Recent surveys suggest there are two distinct groups of crypto newbies: beginners who venture into projects they don’t fully grasp, and aspirants to crypto investing who question their own capability of getting involved.
I recently came across a survey which concluded that nearly half of online investors were not trading crypto because they felt they lacked the proper education. An interesting nugget of information — the women surveyed (and they do tend to be more cautious), in particular, admitted that their lack of knowledge was the biggest barrier to entry into crypto investing, even though their interest in doing so matched men’s. Another poll, from 2019, found that U.S. investors would be more likely to invest in BTC if they were more knowledgeable about the asset, relative to stocks and bonds. This means that we’re not getting across to the critical thinkers out there — that perhaps we’re stuck in our own crypto vacuum and niche terminology, thus preventing potentially smart investors from coming into our space.
Interestingly though, those with the lowest crypto knowledge tend to demonstrate high or medium confidence in its future, which makes for an uncomfortable journey towards mass crypto adoption. Interest, whether matched by sound understanding or not, is definitely a step in the right direction, but it can backfire as those who are at a loss after making uninformed decisions take to crypto Twitter or some other social media and slam the space, with the bulk of discontent ultimately making mainstream media headlines.
This also holds true at the company level — when the businesses that are responsible for protecting their users’ funds don’t ensure their security because of insufficient knowledge (or disregard) of best practice, this casts doubt over our space. Furthermore, and considering how new crypto is and its mission to make financial tools available to all, “best practice” should entail financial education, or at least ensuring that products and services are thoroughly and transparently explained to users. A failure on either of these two will result in a setback for everyone in crypto, or at least for those of us who believe in and aim for mass crypto adoption as a better alternative to the current financial system.
On this note, I was really pleased to hear CoinMarketCap’s interim CEO Carylyne Chan say earlier this year that she was leaving CMC with the hope that it will play a “more prominent role in cryptocurrency education.” Hers is a voice of reason and we must all take heed. For the space to progress and enter mainstream finance, as it deserves to, the “quick-buck” men.
What is the biggest difference between the 2020 bull run and the 2017 bull run?
Antoni Trenchev
Unlike 2017, the recent BTC rally has stayed under the radar. It is different altogether, led by the larger players and institutions behind them, like Stone Ridge, Paul Tudor Jones, Stanley Druckenmiller, among others. By contrast, the 2017 frenzy and subsequent 2018 bubble burst was retail-driven, with price action intensified by the ICO phenomenon.
With smart money at the helm, the current BTC rally is looking a lot like the gold bull market of the 1970s: stealthy institutional purchases announced to the world once Bitcoin makes it into treasuries. This means we can expect small funds to also jump in, given that the whales are now in and there is no longer a need to justify these investments.
What is your most controversial opinion relating to blockchain and/or cryptocurrency?
Antoni Trenchev
We’re not doing anything fundamentally innovative here. Just taking the principles and best practices from the age-old industry that finance is and implementing them in a digital dimension.

KABN Systems NA Holdings Corp. is a North American Fintech solutions company specializing in empowering individuals to manage, control and generate value from their biometrically-verified Self Sovereign Identity ("SSI") through its Liquid Avatar (www.liquidavatar.com) platform, is pleased to welcome a group of leading business executives in the formation of its inaugural Industry Advisory Committee ("IAC") which will support and advise KABN NA's management team with its growth and business initiatives, industry awareness and strategic introductions.
With Digital Identity impacting almost every sector and potentially 100% of the addressable online market, the timing was right for KABN NA to bring together an outstanding group of executives with start-up, industry, and public market experience to support the Company.
"We are excited and honored to be able to work with such a talented, experienced and diverse group of executives who believe in Liquid Avatar and the value of digital identity," said Ben Kessler, Senior Advisor and Chair of KABN North America's Industry Advisory Committee. "As a group, our mandate will be to support the Company and its efforts while providing industry advice to help accelerate its growth."
The 2021 KABN North America Inaugural Industry Advisory Committee members include:
Sheldon Inwentash, B.Comm., CA., CPA., LL.D
Sheldon is the Founder, Chairman and CEO of ThreeD Capital Inc. (CSE:IDK) and has more than 30 years of investing experience. He co-founded Visible Genetics, the first commercial pharmacogenomics company, in 1994 and exited in 2001 to Bayer. Through two decades of leading Pinetree Capital, Mr. Inwentash has created significant shareholder value through early investments in Queenston Mining (acquired by Osisko Mining Corp. for $550-million), Aurelian Resources (acquired by Kinross for $1.2-billion) and Gold Eagle Mines (acquired by Goldcorp for $1.5-billion) to name a few.
Sheldon obtained his B.Comm from the University of Toronto and is a Chartered Professional Accountant. In 2007, he was an Ontario finalist for the Ernst & Young entrepreneur of the year award. In 2012, Sheldon received an honorary degree, doctor of laws (LL.D) from the University of Toronto for his valuable leadership as an entrepreneur, his philanthropy, and inspirational commitment to making a difference in the lives of children, youth and their families.
Rob Anson
Rob Anson has served as the Chief Executive Officer and Chairman of the board at Loop Insights Inc. (CSE:MTRX) since January 2018. Rob has also served as CEO and Founder of Fobisuite Technologies Inc., a private British Columbia technology company, since October 2017. Previously he was Founder and CEO of One Team Media, a Private Vancouver-based media company with digital and TV production assets.
Neil Stiles
Before moving to the US in 2008, Neil was a Board Director of Reed Business Information (RBI), one of the world's largest magazine publishers headquartered in the UK. He was also CEO of eMedia, an email marketing business with divisional responsibilities including a range of publications and events in multiple markets.
Neil also led sales across the whole of RBI, headed up the internal pricing consultancy and was also instrumental in developing RBI's strategy transitioning from magazines into data which required him to relocate to Los Angeles, California.
Neil took over the Entertainment division of RBI USA which included Variety Magazine, where he was CEO and Publisher. At Variety, Neil was instrumental in the development of a wider business strategy to take the company into conferences, higher price data and syndication.
Neil also served on the board of LA's Best after school program for schools within Los Angeles and was a Director of BritWeek. He also was on the board of BAFTA and subsequently served a term as Chairman.
After Neil orchestrated the sale of Variety, and other assets for Reed Elsevier, he retired to the Fort Lauderdale area.
Neil currently consults with a wide range of companies with focus on pricing and developing viable online business models. Neil is also on the advisory boards of EIS, 2020 Capital and three other start-ups.
For fun he owns a Brazilian Jiu Jitsu School and competes on a regular basis.
Alen Paul Silverrstieen
Alen Paul is a global serial entrepreneur with over 20 years of experience and is currently CEO of Imagine AR (CSE:IP). He recently founded Recruitment USA/India software firms leveraging Artificial Intelligence and Machine Learning to optimize job candidate sourcing. Alen Paul has also represented one of the leading Indian Post-Production Studios and contracted over 60 Hollywood movies in the past 5 years alone. Alen Paul is known as one of the pioneers of North American prepaid communications and led his company, GTS, public on the NASDAQ within 3 years while executing license deals with MLB, Marvel, NHL, Led Zeppelin, and many others.
Nicole Rodrigues
Nicole Rodrigues is the CEO and Founder of NRPR Group and the Young Dreamers Foundation. She's an award-winning, well-rounded public relations and marketing pro. Her extensive knowledge in bridging the gap between the technology and various consumer industries makes her extremely valuable to her team and clients. She has more than 20 years of experience in PR, social media and digital marketing. Clients that have benefited from her counsel and skill include Heal, Sony Pictures Entertainment, Dialpad, Dolby, Yahoo!, MobiTV, Sony Playstation, Plantronics, Hulu, YouTube, M-GO, LA Comic Con, Demand Media (now Leaf Group), and other dominant companies. She holds a Bachelor of Science degree in Public Relations from San Jose State University and is an Executive MBA Candidate at UCLA Anderson School of Management - class of 2022.
Ruth McCartney
Ruth is a music industry veteran, communications expert and brand strategist with a strong marketing and entrepreneurial background. She's consulted and produced for Fortune 100, corporate, high-tech, non-profit & entertainment companies. She is also a public speaker and early Bitcoin adopter.
As CEO of McCartney Multimedia, Inc, Ruth has developed working relationships with industry leaders including Capitol Records, MGM/ Mirage, Lexus, Warner Bros. & T-Mobile. Her work has ranged from new media strategies and technology consulting, to development of database management solutions and marketing programs. Currently, her Hootsuite-Certified team is handling social media content creation, strategy, deployment and reporting for 36 worldwide city destinations in 7 languages. In addition, Ruth has also served as advisor to projects for non-profit and higher education organizations including the Farrah Fawcett Foundation, The Clinton Foundation & the Linda McCartney Centre for Cancer Research. The company also handles social strategy and marketing/digital PR for clients including creating custom marketing and sales funnels using their technology McCartneyMessenger.com to target & reach people via IM and Facebook and respond in real time.
Ruth's brainchild is the online Customer / Fan acquisition and retention, tool iFanz® iFanz.com® whose technology has provided online data mgmt., eCRM, & email broadcasting & compliance to LeAnn Rimes, Estate of Tupac Shakur, Roseanne Barr, John Cleese, Chevrolet, Paula Abdul, Edgar Winter, Texas Instruments and more. With 6.4 million members, it's amongst the largest privately held email mgmt. systems in the USA.
Formerly, Ruth was a singesongwriter & recording artist on BMG/Jupiter Records and has headlined tours in Russia, Lithuania, Armenia, Uzbekistan, Turkmenistan & Siberia. Specialties: Branding, social media, eMarketing, digital distribution, web development, eCRM, block chain solutions.
Craig Asano
Craig is the CEO and founder of NCFA, National Crowdfunding & Fintech Association of Canada. With 15+ years of experience, he is a proven marketing strategist, software technologist and start-up entrepreneur in technology, finance, and real estate sectors. Craig is a leader, community builder, advocate and development professional of alternative finance and private capital markets, fintech, blockchain, AI, interactive web, data intelligence, special projects, and new ventures.
Steven Glaser
Steven is a financial service executive with a diverse background in corporate finance, communications, and governance for both private and public companies. He is currently Chief Operating Officer, Chief Financial Officer and Director at Pool Safe Inc. (TSXV:POOL), a company that designs, develops and distributes globally a product known as the "PoolSafe". In addition to his role at Pool Safe, Steven also sits on the Board of Canadian listed public companies. From 2008 through 2017, Steven worked in the corporate finance and investment banking arena focused on assisting late stage private and early stage public companies with strategic planning and capital raising. Prior to that, he spent seven years as Vice President Corporate Affairs of Azure Dynamics Corporation. He was responsible for the company's corporate governance, domestic and international stock exchange listings, as well as the build-out of the company's Investor Relations division. Steven holds a Bachelor of Administrative Studies degree as well as an M.B.A. in finance.
Lauren Linton
Lauren is an Executive Director of CIX Canadian Innovation Exchange, the longest-running Canadian venture conference, which curates and showcases Canada's most innovative early and growth stage tech startups to North American investors and corporates. Previously, Lauren was an executive with the CVCA- Canadian Venture Capital and Private Equity Association, setting the strategic direction and developing the majority of the revenue programs for the association and private capital industry. She has served on boards with interests in healthcare, technology and business services and has chaired many fundraising events. Lauren holds a Bachelor of Commerce degree in Marketing and Finance from the DeGroote School of Business, McMaster University.
Lauren is also a SheEO Activator.
Mark Pearlman
Mark is a results-driven senior operating executive with over 20+ years' experience and success in driving corporate growth within the technology and mass retail industries. His experience and expertise is in business transformation, M&A, corporate strategy, corporate planning and sales operations. Government and public appointments at Federal and Provincial levels.
Dominic Vogel
Dominic has an established track record as a cyber security leader. He has a wide-range of experience overseeing numerous projects including security strategy development, policy development, endpoint security, and threat management in a multitude of industries including financial services, logistics, transportation, government, telecommunications, and critical infrastructure. Dominic actively participates in the local Vancouver security community and is a regular cyber security expert for Global BC (TV), CKNW (radio), News1130 (radio), and the Vancouver Sun (newspaper).
Ben Kessler - Chair
As Chair of KABN NA's Industry Advisory Committee, Ben has over 20 years of account management, business development, marketing, and partnership experience in the financial services sector. Mr. Kessler is currently a Senior Advisor to KABN North America.
Prior to that, he was the Managing Director, Payments Solution Group - Banc of California and also served as Vice President, Global Account Management at Earthport North America. Ben also held senior roles at Mastercard Worldwide from 2006 to 2011. Ben has a Bachelor of Arts degree from Brandeis University and a Master of Business Administration from the New York University Stern School of Management.
Having the opportunity to consult and engage with such a diverse group of industry leaders through the Industry Advisory Committee is amazing as it will help us garner different views of our business, markets and our respective opportunities," said David Lucatch, CEO KABN North America.
Launching in the Apple Store and Google Play on February 18, 2021, Liquid Avatar, available at no cost to consumers, makes it easy for individuals to start and maintain the process of managing their SSI/digital identity while giving users the ability to share it with their friends, family, colleagues, and others easily, safely, and cryptographically secure through biometrically enabled Self Sovereign Identity tools and services.
​
The Liquid Avatar platform allows users to create high quality digital icon representations of the various facets of their online personalities and identity, which can be used to easily share what they want, when they want, and with whom they want. Liquid Avatar users will also be able to create digital wallets to manage and store a wide range of verifiable identity and access credentials, and to take their conventional identity online, allowing users to prove themselves as easily and effectively as they do in the "physical world".
As a verified platform, an individual user of Liquid Avatar can only have one account (with possibly multiple digital personas) which potentially reduces the ability for bad actors to create bots and fake accounts. Liquid Avatar users know that when they use and interact with other Liquid Avatar users, they are dealing with real, known people.
Liquid Avatar users are able to select from 1000's of combinations of facial features to create their perfect digital representations of themselves - all at no cost. Users can also visit the Liquid Avatar Marketplace (www.liquidavatarmarketplace.com) if they are interested in purchasing custom icons from leading pop-culture, anime, and comic book artists. In the future, users will also be able to upload certain personalized images and logos to represent their avatars.
While Liquid Avatar is free to consumers and KABN and Liquid Avatar never sells or rents data, the Company believes that verified, known users can create increased value for themselves and select marketers and vendors as they look to reach real people and not fake users or bots. Through the Liquid Avatar platform and approved, permission-based communications, Liquid Avatar will offer up value-based opportunities users can select. At the same time, Liquid Avatar partners who want to reach real, known users will be willing to provide increased value as they won't be spending money to reach fake users and bots.
KABN NA also has its KABN KASH rewards and loyalty program, with over 300 major online vendors, that will provide Liquid Avatar users with cash back incentives for purchases they make through KABN KASH. This program, together with the KABN Visa Card (initially available in Canada with the US and other regions under review), provides users with new and innovative ways to create and earn value.
KABN NA will earn potential revenues through card transaction fees, comarketing, bounties, commissions, and other fees paid by partners and vendors. The Company believes that other consumer and revenue programs will emerge as Liquid Avatar gains traction in the market.
Liquid Avatar will launch in phases, as the Company prepares and tests additional service and program offerings to make it easier for users to become familiar with the Liquid Avatar platform, Self Sovereign Identity and Verifiable Credentials.

Today we have thought of one more enlightening website about the Salesforce Spring '21 delivery. We have discussed everything in detail, be it Sales, Marketing, Commerce, Analytics, Integration, or more.
So immediately, how about we jump straight into these;
1. Salesforce Sales Cloud
Conjecture Adjustments on the Salesforce Mobile App: You would now be able to get to your determining from anyplace on the planet. In Spring '21 delivery, clients get the capacity to view and make changes in accordance with gauging utilizing the Salesforce versatile application.
High-Velocity Sales for Opportunities: This will use deal rhythms on any top deals object, at any phase of the business cycle or arrangement. You can likewise follow and connect straightforwardly and naturally on Lead, Contact, Opportunity, Account, or Person Account records utilizing the best practice ventures from Sales Cadences.
Salesforce Maps Field Safety Kit: Other than the COVID pattern information layer, which is now accessible to clients, more highlights in this portion will be accessible to you. Presently, you can get ready for site visits with in-field security survey formats set off for audit by the record leader.
2. Salesforce Service Cloud
Einstein Recommendation Builder: You can make custom suggestion models, consolidating any two items to drive proposals that improve CSAT, income, and that's just the beginning.
Field Service: Appointment Assistant: This helps permits clients to realize when help is in transit, which brings about expanding client commitment and straightforwardness.
This element eliminates the four-hour stand by the window and gives clients ongoing updates through SMS or a self-administration entry, whatever they like.
3. Salesforce Marketing Cloud
Collaboration Studio-Real-time triggers for venture developer: This permits you to make sections continuously dependent on the activities your clients and guests take on a site. You can enact these portions in Journey Builder to introduce continuous, 1-to-1 substance dependent on affinities.
Sandbox for Datorama: This enables administrators to test their arrangement setups and information changes in a disconnected advancement climate that is consistently in a state of harmony with creation.
Pardot: With Pardot: Campaign Cloning, you can save time and lift effectiveness with reusable showcasing resources. Additionally, you can now easily clone presentation pages, structures, structure overseers, and connections identified with a mission.
4. Salesforce Commerce Cloud
A definitive installment arrangement: With Commerce Cloud Payments, you can convey quick, adaptable, and rich checkout encounters that help Mastercards, portable wallets, for example, Apple Pay and Google Pay. You can likewise get installments from non-card techniques, for example, SEPA, iDEAL, and BanContact are all with extortion insurance.
Questioned Order Management: You would now be able to satisfy orders quicker, diminish expenses, and lift consumer loyalty by utilizing dynamic request directing streams to satisfy orders from the best area.
Additionally, Disputed Order Management gives traders configurable satisfaction work processes that can powerfully limit request parts and course orders from the nearest area.
5. Stage and Apps
Client 360 Privacy Center Enhancements: Easily sync your assent information across various records utilizing a solitary API to at the same time refresh or set up assent for different coordinating accounts.
Additionally, you can naturally make an individual record and interface different related records to it.
Salesforce Shield for Surveys: Now you can ensure delicate information gathered in Surveys with local encryption, assisting you with meeting administrative prerequisites. Moreover, you can guarantee that the information is encoded from Salesforce clients, including administrators.
Dynamic Actions Enhancements: In Spring '21, Dynamic Actions is presently accessible for extra articles and versatile. Outfit the force of Dynamic Actions on Accounts, Contacts, Leads, Opportunities, and cases for Lightning Experience Desktop. Furthermore, Custom Objects in the Lightning on Mobile application.
LWC: Local Development Enhancements: With this element, designers would now be able to make changes to their LWCs and promptly see those progressions delivered in a program or a versatile emulator, without pushing to a Salesforce organization.
6. Salesforce Integration
MuleSoft Composer for Salesforce: With this, non-designers who own critical pieces of the client excursion can utilize basic snaps, the no-code answer for open information, incorporate applications, and computerize business measures.
Two New MuleSoft Accelerators: The new MuleSoft Accelerator for SAP empowers clients to open information from SAP and associate it to applications like Salesforce.
Multifaceted Authentication: Anypoint Platform: This shields your information from something the client knows, for example, login qualifications or something he has, for example, check strategies.
7. Investigation
Scene Prep Builder in the Browser: This lets you prep your information from any place you approach a program. This brings the information prep measure into one coordinated stage on the web.
Scene CRM: Dashboard Components and Data Prep Enhancements: Dashboard segments permit you to fabricate dynamic dashboards with reusable gadgets that save your time and endeavors.
Information Prep Enhancement stores portrayals of top indicators and upgrades in your datasets with the new anticipate hub in the information prep.
Thanks for reading this article and if you like this article and want to read more article then please visit HIC Global Solutions ( https://hicglobalsolutions.com/ )

Hello everyone, here's a list of discounts, promo codes and tips I found for myself, I thought to share it with you all - hope you can save yourself a few dirhams or get some free karaks!

✈️ Travel / Hotels / Transport

• Klook - 15% off activities in the UAE with code KLOOKUAE
• Etihad Guest - hack: when booking flights, always try to use or buy miles, you can buy up to 100,000 miles per year per person (if you have family members you can pool your miles) = e.g. 50k miles = 1return flights to the UK. There are often campaigns to buy miles with discounts (between 20-50%).
  • Etihad Guest credit cards are good also to earn miles (see finance section below)
• Emirates Skywards use 6700 miles to have a buy 1 get 1 app powered by Entertainer.
• Jumeirah One / for Jumeirah Hotels
  • Earn 2points for every 1 USD = 1.835 point per AED
  • Spend 817 aed = 1500 points = 100 aed voucher (12% cashback)
  • Complimentary one-night stay voucher after your first stay with Jumeirah
• Uber - 50% off up to AED30 with code VISA50UAE
• Careem - MC1RIDE first ride free (to be paid with Mastercard) / code MASTERCARD for 20% off up to 40 AED & 3 rides per month
• Udrive - 30 minute free drive for first registration
• Google Travel - hack: when booking for hotels or flights, search first on Google Travel to quickly find the cheapest travel dates.
• Agoda - I always seem to find great hotel prices there + combine with a promo code, 12% off with code WR17JHD
• Tajawal - good flight prices (search cheap dates first in Google Travel), 150 AED off with code NEW150 (first time use), 100 off with code NEXT, 15% off with a FAB card code FAB15.
• Bonvoy - the loyalty program for all Mariott properties (including St Regis, Sheraton etc), good with the Emirates NBD bonvoy credit card (see finances section below).
• Booking.com - 10% discount with the Genius loyalty program, discounts with ADIB booking card (see finances section below),
• Relhat - book flights and hotels, around 200 AED off with bank cards, check latest deals
• CAFU - 40 AED off petrol for 2 orders with code AIW8M4L, free delivery for 1 month with code AIW8M4L.
• Cleartrip - Up to 30% off with Mastercard - code MASTERCARD
• zdegree - Up to 65% off on tires

🥡 Food / Drinks & Groceries

• Careem - 50% off first-time offer with code NOW. Good loyalty program.
• Zomato - 50% off first 3 orders with code EAT50
• Deliveroo - 10 AED off first 2 orders with code DCMNEW1
• Let's DXB (Mr & Mrs Brunch) - hundreds of deals for dining, drinking or brunches in Dubai
• Buy1 Get 1 Mastercard app (Entertainer Based)
• Visa Offers (Entertainer Based)
• The Entertainer App - 10% off with code EDS2020
• Smiles - 2 for 1 deals, Carrefour cashback
• Repeat - dine out discounts (Nandos, Burger Fuel, Din Tai Fung, Hard rock cafe, German Doner..)
• Ubyemaar
  • Dubai Aquarium & Zoo, Roves, Kidzania, Arabian Ranches Golf, Armani Restaurants, Atmosphere at Burj Khalifa, Reel Cinemas…
  • 10-30% off / Roughly 5% cashback by earning/redeeming points
• Paul
  • Welcome offer + good loyalty program
  • Flat 25% off all orders (pickup and delivery)
• McDonalds
• Share (Majid Al Futtaim brands, Carrefour etc)
• Meraas Rewards (2 for 1 offers at Meraas places, CityWalk, Boxpark, Bluewaters, Last Exit, La Mer)
• Ladies Night Dubai - discounts on drinks
• Talabat - 15% off with code WELCOME15
• NowNow - 20% off with ENBD card and code ENBD20 up to 20AED, 15% off up to 15 AED with code NO2 (all orders) / Waitrose, Spinneys, Choithram etc
• Munch (by entertainer)
• Carrefour - 25 AED Off first order (min 100 AED) with code New25
• Casinetto - 20% off with code TASTE

🎥 Entertainment / Activities / Gaming

• Motiongate / Dubai Parks - 2 for 1 (offer also with Entertainer)
• IMG World - Free entry (instead of 20AED) with any Emirates NBD card, then 25 AED per ride or 135 AED unlimited rides.
• CTC tourism - pretty good discounts on activities in the UAE (Theme parks, water parks, museums etc)
• Klook - 15% off activities in the UAE with code KLOOKUAE
• Meraas Rewards (2 for 1 offers at Meraas places, CityWalk, Boxpark, Bluewaters, Last Exit, La Mer)
• Share (Majid Al Futtaim brands, Carrefour etc)
• Cinemas - 2 for 1 discounts with pretty much any Visa credit card
• Idle Heroes - video game - code IH777 to get forty free draws

🛍️ Shopping

• Noon
  • 5% off with code NOW
  • 15% off with Mashreq card up to 75 AED off (min order AED 100)
  • 20% off with Sharjah Islamic Bank card up to 50 AED off
  • 15% off ADCB card up to 100 AED
  • Noon VIP credit card (launch soon) 3.5% cashback + 500 AED joining bonus
  • Try also these codes: Extra300 Extra200 Extra150 Extra50 Noon50 Get1
• Amazon
  • 15% off first order max AED 75 with code AMAZON15
• Smiles App
  • Powered by Etisalat, 2 for 1 offers + vouchers
  • Noon cashback (buy a voucher and get cashback in Smiles points)
  • Carrefour cashback (buy a voucher and get cashback in Smiles points)
• Dubai Mall app
  • Earn Emirates Skywards points for purchases at Dubai Mall shops
• Blue rewards (2 for 1 offers at Al Futtaim brands)
  • IKEA, ACE, ToysRus, Hertz, Ted Baker, Sandro, Orient, Maje, The Watch House, Guess, Marks & Spencer, BCBGMAXAZRIA, Kate Spade, Claude Pierlot, Aape, Jones, Al Futtaim Travel, Kiabi, Robinsons, Toyota, Lutétia, Lexus, Ba&sh, Healthub.
• Meraas Rewards (2 for 1 offers at Meraas places, CityWalk, Boxpark, Bluewaters, Last Exit, La Mer)
• Share (Majid Al Futtaim brands, Carrefour etc)
• Festival Rewards (Entertainer based - discounts for outlets at Festival City Mall)
• Honey - one of the best browser extension that picks up automatically the best promo code when shopping online (mostly for US/UK online shops)
• Quidco - similar to Honey for UK websites, gives you cashback on online purchases
• PriceRunner - super useful price comparison site
• Sprii - 30% with code WOW30, otherwise pretty much 25% off discounts continuously, code WOW25
• Mumzworld - 10% up to 50 AED with code AS33
• Desertcart - 10% up to 50 AED with code DC34
• Groupon - 15% off up to 70 AED with code WELCOME15
• Next - find what you like in Next stores, then shop on their online store. Their prices are roughly 20-30% cheaper than in stores for the exact same product and delivery is generally quite fast.
• ClickFlyer - browse different brochures from famous malls and shopping centres.
• Pricena - compare prices of items from various e-shops (Noon/amazon/etc)
• Cartlow - Pre-owned / Open-box / Refurbished and Clearance stock products.
• Kanbkam noon vs Amazon price tracker - On amazon you find deals just by switching to US up to 65% less than amazon global through UAE setting.
• Faces.com - FACES10 for 10% off first order (beauty: perfume - makeup - skincare), get additinionnal cashbback with FAB Smart Shop Smart (see finance section).

💡 Essential

• Virgin Mobile - No contract, flexible plans) 79 AED cashback, 50% discount when buying monthly plans.
• Smiles App - earn points on your Etisalat spends
• Dubai Now app - to pay your utility bills

🍿 Streaming

• Poolside FM - Free cool radio to listen to whilst you are making a good deal
• Netflix - 50% off first 2months
• Spotify - Free first month
• Apple Music - Free for 3 months
• Apple TV+- 1 year free when buying an Apple device

💸 Finances

• Marriott Bonvoy Emirates NBD card- 200,000 joining miles (= 10 free nights in category 3/4 hotels, 4/5 nights in categories 5-7) + Gold status (free upgrades) - cost of
• ADIB Etihad Guest - 50,000 joining miles (= free return flight to Europe)
  • Comes with Smartdeals app (powered by Travelerpass – buy 1 get 1 + discounts at 1000+ places)
• HSBC credit cards - free entertainer
• Standard Chartered X (up to 10% discount on digital payments)
• CBD One - Up to AED 500 per month cashback
• New noon card- 3.5% cashback at Noon
• CBD Digital current account – comes with offer section powered by Travelerpass – buy 1 get 1 discounts at around 200 places.
• Liv account - 1.5% interest per year on your balance.
• CBD eSaver account (Savings)
  • 1 % interest on your balance (per year) for amounts above 100,000 aed (= 1,000 aed earned per year). 1.5% interest for 1,000,000 aed (=15k AED earned per year).
• CBD Gold account
  • Super easy way to buy and sell gold in their app
• Revolut - best banking app for European expats
• Payit - UAE wallet (by FAB) - various cashback offers
• Tabby (buy now, pay later)
• Pointpay - pay with your miles at Ecommerce websites
• Citi- 1% cashback on all AED spends - up to 3% on non-AED spends
• Transferwise - send money home - great for Europe / America
• Denarii Cash - send money home - great for Philippines, India, Pakistan.
• Finimize - good financial guides and info easy to understand by all.
• Shop Smart by FAB to get cashback on top of some mentioned discounts (e.g. Sprii 5.25%) or Amazon (up to 6.75%). Only for FAB debit/credit cards. Quite a lot of UAE and international retailers.
• eWallet - AED 50 cashback per month on utility bills / Salik. AED 50 minimum transaction value to get AED 5 cashback, so for AED 500 bill, just pay 10x AED 50.

💯 Discount sites & apps

• Buy1 Get 1 Mastercard app (Entertainer Based)
• Visa Offers (Entertainer Based) + Visa offers website
• The Entertainer App - 10% off with code EDS2020
• Smiles App
  • Powered by Etisalat, 2 for 1 offers + vouchers
  • Noon cashback (buy a voucher and get cashback in Smiles points)
  • Carrefour cashback (buy a voucher and get cashback in Smiles points)
• Groupon - 15% off up to 70 AED with code WELCOME15
• Peody - cool discount app in the UAE
• The point Habibi - a great blog about miles and discounts in the UAE.
  • List of loyalty programs in the UAE: https://thepointshabibi.com/2020/10/19/dubai-6-loyalty-programs-that-you-must-sign-up-for-to-save-automatically/
  • List of all promo Codes in Dubai and UAE: https://thepointshabibi.com/2020/10/25/careem-promo-codes-dubai-uae/
• Points of Arabia - another good travel blog with tips and discounts.
• Cobone - activity deals in the UAE
• VoucherSkout - 50% off deals
• Rezeem - discount codes for UAE websites
• Vouchercodes UAE - discount codes for UAE websites
• Picodi - discount codes for UAE websites

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Disclaimer:
I am not sponsored nor paid/affiliated by any of the listed places, nor using any personal referral codes. It’s just my own findings that I use for myself that I want to share with you all. Thanks to the dubai community for sharing additional codes and tips in the comments 🤩
Note, the discounts are working as of 23 October 2020, they will most likely expire within a few weeks.

In the modern digital world, all the necessary services are moving towards a new era of the cashless economy and we one of the best mobile app development companies in Dubai are contributing in form of mobile apps for it . The world has become heavily interconnected due to such commonly accepted services like digital payment trends. This change has moved us from physical cash payment. These latest digital transformations have provided many options to manage time and costs. Mobile payment trends 2020, have encouraged businesses to stress on digital wallets. The market is more inclined towards a cardless and cashless payment system which has revolutionized in seeing a cashless economy.
Five Most Trending Digital eWallet of 2020
1)Cryptocurrency Wallets:
Cryptocurrency is gaining huge profits because cryptocurrency wallets are safe and suitable. This type of currency does not press for the need for any huge transactional fee since there is no involvement of any third party for the transaction. It only incurs the cost of whichever network that is involved in the transaction. These types of wallets are software programs that keep the public and private keys of the user and then articulate with accessible blockchains. This helps users to verify their balance, transfer funds and carry any further operations. As there would be any necessity to send bitcoins or other digital currency, they can send all the ownership of coins to other wallet addresses. Post this, he would need to match the stored private key to assigned public wallet address for accessing coins and unlocking the required funds. If both of the private and public keys match each other, then the balance in the digital wallet increases and the balance in the sender’s wallet decreases.
2) Smart Speaker Payments:
Smart speakers are the latest inventions in the digital world. They have noticed a significant growth after it was initially introduced by Amazon in 2014. They were developed further by major organizations like Google and Apple. After many types of inventions, in the present day, many smart speakers have entered into the market with many included features. Many studies have proved that a large number of people are using smart speakers to retrieve the required data and buying products. They have also shown that around 1/3rd of people have made direct payment to all these purchases. The percentage of such purchases may be less but it is indicating an expected transformation in the buyer’s practice. It is in the way of becoming a more appropriate and secure way for the smart speaker to use the community. As people have seen the advantage of using smart speakers, it is having a positive influence on the usage of this technology for monetary benefits.
3) NFC-Based Wallet Solutions:
Digital Wallet apps with the provision of NFC will have a major part in routine activities by working as virtual wallets. It contains simulated payment cards, loyalty cards, access cards, etc. NFC technology has gained more accessibility due to its secure and accurate nature.
Modern smartphones are built with NFC technology. Users can develop a connection with NFC machines, it is very convenient to use and also very user-friendly operations. This operation does not demand the need to know the involved technology as the response begins automatically by keeping two included devices together.
One more crucial aspect of the smartphone payments is that there is no necessity for touching the POS device for making the payment as the devices must be close to the terminal point. All these points have contributed to an increase in NFC payments and suited best for digital payment cases.
4)AI-Based Wallet Solutions to Automate Routine Transactions:
The payments sector is undergoing a path of innovation. It is powered by strong technological advancements. Due to this, users are leaning towards the desire for on-demand payment solutions. All these latest inventions have given prominence to AI-dependent wallet solutions in the market.
Developers in the AI sector have discovered the possibility of empowering payments to embedded a significant transformation with the promise of efficient operation. The benefit of Artificial Intelligence has opened a new window to eCommerce businesses to have an Ai-based chatbot facility to their customers. Such chatbots aid their customer in resolving their issues and provide a swift solution. AI depended chatbots are very much proficient to perform and automate the basic transactions of users with their approvals.
With many monetary advantages, AI also carries out voice instructions. Due to this, it can process daily payments much faster. As there are continuous advancements in the digital world and smartphone apps, users are tending to know the importance of eWallet ion the routine payments.
5) Biometric authentication:
Biometric authentication is being used by many companies across the world for registration routines. But, in recent years it is being used by payment systems for a secured process. In the scenarios of individual authentication units having important user’s data, it provides secure access for denying unauthorized access and saving confidential data.
From the time of usage of biometric technology being used for facial identification, vein mapping, fingerprinting, heartbeat analysis and Iris recognition. It has a true capability for aiding biometric payment systems in the present year.
When compared to traditional payment systems, it would help enhance efficiency, safety, and accuracy substantially. Adding to this, it is always beneficial to customers for a swift and secure way of payment as well as useful for vendors to have hassle-free payments.
Bottom-line:
The advancements in digital technology have redefined financial transactions into an effortless process and increased mobile wallet trends. Due to these efforts, the economy is being transformed into a cashless operation. All these unparalleled advantages have made them the most accepted mode of payments. Every successful organization would have customer satisfaction as the major plan for its brand expansion. Hence all the top firms are making use of these digital payments as a vital part of their business plans. If you are planning to have the best e-wallet in the world to your payment system, then you must contact the one of the best digital transformation and mobile app development companies in dubai, Brill Mindz.

100*(60/4.72)*60*24 = 1 830 508 transactions / day 

Tendermint Consensus Engine 

Paying with your phone is easier than forever earlier. With mobile pay facilities, we can make purchases in-store, payback substantial pals, and even transfer cash to foreign states using our smartphones. With lots of apps and features to select from, it can be solid to see the best method to pay with your smartphone.

PayPal

The granddaddy of online money transaction is still alive and kicking, processing north of $300 million per day. Now boasting apps on all smartphone stages and a mobile-friendly website, PayPal is the most proven mobile payment providers. PayPal Express Mobile is the enterprise’s mobile point of sale solution for wholesalers. It allows App payment or mobile online payments, whatever the clients desire.

Venmo

Venmo is an easy-to-use, free, SMS and Web-based payment setup created on a model of mutual faith. Once you create a two-way “faith” or association with a follower, you can pay or charge as you realize fit. Charges can be simply upturned if there is an inconsistency. You can send cash from the app to email addresses, mobile numbers, or Facebook accounts. That’s correct, Venmo balance bank and debit card transfers are completely free. You’ll simply contain cash if using a credit card.
Zelle
Zelle provides an exclusive way to fee contacts or persons accurate from your bank. If you have an account at a contributing bank, you can send money with same-day transmissions to anybody else with an account at a contributing bank. You can send money without the app installed on your mobile, though you can download Zelle’s app and attach to your bank account, also. It is open to send and receive.

Square

When it comes from to card-reader dongle apps, Square is the utmost extraordinary and prevalent inside the niche shop. Only by put in a minute card reader into the earphone jack of your smartphone, you can turn your device into a money list and receive postcard payments. Now giving out tens of millions of dollars for each day, Square has split out into totally cardless money transfer, permitting patrons to resolve up just by checking-in at the stock through the Square cash app.

Samsung Pay

It is mainly created for Android devices; Samsung Pay has a robust payment. because it is accepted virtually on anyplace. Thanks to skill known as Magnetic Secure Transmission, the app permits customers to load their credit, debit, loyalty or gift cards to the payment stage so that they can custom their smartphone to fee for things and services. The app agrees to your mobile to mimic the elementary structures that a physical swipe card would typically deliver.

Level-Up

This mobile transaction stage uses QR codes to permit customers to generate payments at resident companies by just scanning their mobile phones. Customers can get new user reductions when spending at a business for the initial time, or otherwise unlock financial credit after spending a certain cost at a business. The app is allowed to all listed customers and only needs customers to tie up a debit or credit card for upcoming dealings.

Skrill

The app is used to send cash to family and friends, play online and pay to generate fast and easy world transaction to dealers. Save your debit card, credit card, and bank details safely and keeping your financial details private.

Apple Pay

Apple Pay permits customers to pay with your smartphone or iPhone and even their Apple Watch. The app itself is protected with Apple’s Touch/Face ID techniques and the payment method is as safe. You will accept a real-time bill for whatever that you buying so that you see accurately when payment has absented out. Trust Apple to receipts something countless and create it even better.

Tabbed Out

It particularly created for the restaurant, Tabbed Out permits you to pay with your smartphone device at any formation that supports the app, as well as a crowd of other smart features. Tabbed Out similarly allows you to construct an association with your beloved restaurants you can leave written response once you’ve paid your bill, and you can get coupons back for next time!

Google Pay

Google provides a way to do nearly everything you can do online, and transfer cash is no exclusion. Google Wallet is unique in combinations with other Google products, including Gmail. It workings through the devoted Google Wallet app or other combined Google services. Google Pay agrees you send cash to mobile numbers and emails. Recipients get an email requesting them to confirm their individuality and then the money is sent straight to their bank account.
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During my time in the borg, I have met far too many witnesses that have absolutely no grasp on their finances. It's especially sad to see in older and elderly witnesses. Many of them have to rely on the generosity of other witnesses and government help to get by. But you can't really blame them! We are taught to put the meetings and the preaching work above all else. We are even told to quit our jobs if they don't give us meeting or assembly days off. On top of that, many of these witnesses are planning their lives and finances around the idea of "the world could end tomorrow", so what good are material things?
As you leave the organization and learn the truth about the truth, you've probably come to the realization that no, the world is not going to end tomorrow. You have your whole life ahead of you! But that also means you need to prepare for your future, your grand plans, and your retirement. I've read many posts here from young exJWs and new exJWs that feel lost when they leave and are worried about providing for themselves after getting shunned by everyone they know and losing their entire support network. Well I believe that the best way to take control of your life is by taking control of your finances first! After all, you will just be faced with a mountain of stress if you aren’t able to maintain yourself and achieve your dreams in the world. You might even consider doing the unthinkable… Going back 0_0
Since leaving the Borg, I have gotten my bachelor's degree in finance. After trying out several different positions and companies, I now own my own Capital Management company. In short, I provide financial analysis services and advice for individuals and companies, as well as manage various investment portfolios. I figured why not help how I can? While this post is primarily targeted towards those just leaving or planning to leave, I hope everyone can find this advice helpful as you prepare for your bright future outside the Borg. I'm going to start with the very basics and work our way up. This is going to be very long, but I promise I'll try to make it entertaining and relevant to the exJW.
But first, legal disclaimer time - Don't sue me bro. I'm not a financial advisor. This is not financial advice. Do your own research. Don't YOLO Tesla Puts. Don't leave your inheritance to the Borg.
With that out of the way, lets dive in.
**1. Open a bank account! **
This seems very basic, but it is the most critical step to begin your path to financial freedom. I know many younger people may have relied on their parents to “hold” their money or had a joint account with a parent, but it’s time to control your own money. Don't just stuff money under your mattress or in your sock. At the bank of your choice, open both a checking account and a savings account. My advice for a checking account is Wells Fargo; they have branches across the US, as well as many thousands of ATMs all over the place. It's helpful to be able to easily get to a branch to talk to a human when you need help with your account. For savings accounts, my recommendation is Ally Bank. This is a fully online bank, so no branches, but thanks to that they typically have among the highest interest rates of the industry. They also have the highest rated customer service for a bank. You call them up, wait for a couple minutes, and you're talking to a human - no more yelling at a robot when you need help with your account.
Earning interest on your money is important because otherwise you are literally losing money thanks to a little thing called inflation. Briefly, this means that the value of $1 (or whatever your local currency) goes down over time. Typically in the US, it's around 2% per year. Over your whole lifetime of not dying in a fiery Armageddon, that's a whole lot of percents. Interest rates don't always match inflation for a few complex reasons, but Ally will usually pay you 1-2% a year on your money. That's better than 0% on the money under your mattress.
Most companies offer direct deposit for your paycheck so your money can go directly into your account rather than having to deal with checks, plus its free unlike cashing checks. Having a bank account also makes it easier to pay all your bills, and holy sh*t will you have bills when you're independent. But we'll get to that later.
On top of paying you interest and keeping your money safe, a huge reason to have and use a bank account is that you will always know exactly how much money you have, how much money you spend, and where your money went. This brings me to the next point...
**2. Make a budget! **
The next step to your financial Independence is making a budget to see how much money goes in and out of your account on a monthly basis. I recommend using the free Mint app by Quicken. This lets you link all your bank accounts, credit cards, investment accounts, and large assets in one place to keep track of everything. They also have a budget function where you can type in what you want to budget for every category, and they will automatically keep track of how you're doing every month.
Once you know how much money is going out every month, you know how much needs to come in. If more money is going out than is coming in, or you need to increase your savings, then you need to...
**3. Trim the fat off your budget! **
Pretty much all of us are guilty of spending more than we should. I mean we're accustomed to getting our Starbucks coffee right after the service group, going to our favorite return visit - the donut shop, stopping for lunch with the friends after knocking on 2 doors, and donating to global pedophile ring... But I digress. Now it's time to trim the fat! Any unnecessary expenses need to go in order to succeed in your final future. Now that you have a budget, you'll actually be able to tell what you can cut down on.
If you are spending $100+ on Starbuck coffee, cut that sh*t out! I don't care how many stars you're earning. Buy yourself a $10 drip coffee maker or a $20 stovetop espresso maker (even though its more work, I prefer the espresso maker). Then buy a bag of your favorite ground coffee, some milk or half and half, and a sh*t ton of sugar. Want to play barista in your own home? Buy some flavored coffee syrups to add to your coffee. You'll be able to recreate your Starbucks coffee flavored sugar beverage for a fraction of the cost. Usually under $1. You can even misspell your name on your cup for a more authentic experience.
Fairly universal expenses are Food, rent, and utilities. But even these can be cut down on.
For food, you might be tempted to go out and eat, get some fast food, or some takeout. Maybe even just survive off meals from the frozen aisle. These are the easiest options. But you will quickly rack up a significant food bill over the course of the month. Instead, try your hand at cooking! Start easy with some pasta. $1.50 for a box of pasta, and $2.50 for a jar of sauce. The ratio I use is 1 box of pasta to 1/2 a jar of sauce. This leaves my pasta with plenty of flavor and color but not a huge pool of sauce in my bowl. To cook - boil & salt water, throw pasta in for 10 minutes, drain, add sauce, mix, done! (*Instructions unclear, got baptized into a cult*). For this $2.75 you should end up with 3-4 servings of food (Less than $1 each!). Toss the leftovers in some Tupperware and you have your lunch for work and another dinner! My advice is to look up your favorite recipes online and just practice. You will very quickly learn how to make lots of great food and significantly cut down on your food budget. I just learned how to make Nigerian Jollof rice by reading recipes online! Another way to cut down on food expenses, BUY THE STORE BRAND!!!! There is absolutely no reason to buy name brand foods IMO. Kroger is my favorite, but Great Value and Market Pantry are just as good. You can also buy the off brands. Fruity pebbles and Dyno bites? Same sh*t.
For rent and utilities, get a roommate! By getting a roommate you can cut your rent in half. If getting a roommate isn't an option, then try looking for another smaller or cheaper apartment. If that's not an option, then go the opposite direction and find a bigger apartment with a roommate! Getting a roommate is the most effective way to cut down on your rent expense. Sure, it may be awkward at first to live with someone else, but your wallet will thank you and you may even make a friend! We all know those are in short supply when you leave the Borg...
Subscriptions are the biggest killer of any budget. They leach off your bank account every single month like a cancer. For years I subscribed to the gentleman’s box to get my tie and colorful socks of the month to rock at the meetings. But after leaving, I can count on one hand how many times I've worn a suit. Now I have a closet full of ties and a drawer full of socks and nowhere to wear them. Subscriptions have got to go!
After having watched years of the broadcast (*cough* propaganda *cough*), you may now be tempted to subscribe to every streaming service you can find to fill your brain with meaningless worldly TV. But don't overdo it! You don't need Netflix, Hulu, HBO, AND Disney+. Pick your favorite streaming service with the most shows you like to watch, and stick with that one for a while. You can only watch one thing at a time after all. Once you get bored with it, cancel it, and try another one. You can cancel these and restart them at any time, and for the most part the content isn't going anywhere. There’s also YouTube, which is free. There is a mind-blowing amount of professionally made content on YouTube completely free, I guarantee you will find channels and shows you like watching. Sure, there's commercials, but that just gives you time to look at a couple memes on exjwhumor.
These are just some basic suggestions for how to cut out or reduce some large expenses. If you want to dive deeper in to saving even in the small places in your budget, you should explore some ideas of a frugal lifestyle. I find it kind of fun seeing everywhere you can save money by adding just a small amount of effort. Over time, these small efforts can really start to add up to some serious savings.
Once you cut down on your expenses, you should have a nice jingle in your pocket left over at the end of every month. **Don't forget to treat yourself! ** I'm not telling you to buy a jet ski or the newest iPhone with your extra money. In fact, you should be saving most of that extra money! (But we'll get to that next). You have just gotten out of a long-term toxic relationship and you need to take care of yourself. Give yourself a nice little discretionary budget every month to do whatever you want to do with it. If you like getting a manicure or pedicure (fellas, you don't know what you're missing out on), treat yourself! If you want to go get an ice cream or some dessert, treat yourself! Want to buy that video game that you have been dying to play? Treat yourself! If possible for your budget situation, try to give yourself $100 a month (or whatever you can) to do something you want to do.
**4. Start an emergency fund! **
The current pandemic and economic crisis show better than anything why you need to have an emergency fund. One day to the next you could be out of work, of you could have your hours cut, or you could fall ill and not be able to work. The average American can't afford a $500 emergency, and I don't want that to be you now that you don't have your support network anymore. Your emergency fund should be in its own high interest savings account. You want it to be easily accessible for when you need it, but not so easy that you might use it when you see a top at H&M that you just can't live without.
The rule of thumb is to keep 6 months worth of expenses, though having more doesn't hurt. Set your own goal based on what you think you need. The Mint app can also help you set and track a savings goal. On your budget, look at your monthly expenses and multiply x 6. This number may seem daunting at first, but remember that you don't need to get it all at once. Take your time and plan it based on your budget. Now that you have trimmed the fat off your budget, you might have some leftover money burning a hole in your pocket. But don't succumb to the temptation to spend! At the end of the month (or the end of the pay period), move all your leftover money into your emergency fund! No matter how big or small, contribute to your emergency fund every month.
But now that you have this pile of money staring at you in your bank account, you're going to need to set yourself some ground rules. Limit yourself on what you can spend this money on. Don't break open this piggy bank just because its Prime day and everything on your wish list is on sale, or because Gabe Newell decided to put an 80% discount on all your favorite Steam games. This is an EMERGENCY fund! Use it when your car gets a flat tire and you can't afford to fix it. Use it when you get an unexpected medical bill you can't pay. And of course, use it if you're laid off or can't work.
**5. Get a credit card and build credit! **
Getting a credit card may seem counter intuitive because you're taking out debt, but that's not really what it means. When you buy things on a credit card, after you get your statement at the end of the billing cycle you get a whole month to pay it interest free. *whispers* It's free money. The key is PAY OFF YOUR CREDIT CARDS! The interest rates on credit cards are f*cking painful, don't do that to yourself. If you're carrying a credit card balance, then pay that sh*t off as fast as you can or it will snowball into a nightmare.
When you get a credit card, they check your credit. If you have no credit history, it’s kind of hard to get a credit card but not impossible. However, it is nearly impossible to get any other type of loan, at least at any reasonable interest rate. This will especially hurt when you are trying to buy a house in the future. However, once you get a credit card, they will start reporting your credit usage every month to the credit bureaus which will start to build your credit history. Remember how you thought you would no longer get graded on anything when you left school? Guess what! You get graded on how well you can manage your debt. If your balance stays reasonable and you pay off your balance when its due, your credit score will go up. If you max out your cards, and let the balance roll, your credit score will go down.
Download Credit Karma, type in your info, and check out your credit score for free. It even updates every 7 days so you can keep track of how you’re doing. If you have absolutely zero credit history, it may not work right away. But that doesn't mean it won't work or that you can't get a credit card. It is very very very important to know your credit score and to keep it high because banks will judge you based on your credit score the minute you walk through the door. Remember how worldlies looked in jeans and a T-Shirt the first time they came to a meeting? That’s how a bank will see you with your sh*tty credit score. You gotta pump those numbers up!
Discover bank is a great credit card provider for starter cards. But you can google "started cards" and find tons of lists of different starter cards. If this is your first credit card, just spam applications until you get approved for one. Pay attention to your credit limit. A pretty standard limit is for your first card is $1,000. You may look at that and think "Cool! I always wanted to buy those sweet pinky rings the GB wear!" WRONG! Use your credit responsibly. Ideally you want to keep your credit usage under 30% of your limit. At $1000 this would be $300. But always remember to only spend what you can actually pay off when the bill comes due. Follow your budget!
Once you get your first card and manage your credit nicely, you should try applying for cards once a year. Pick a month where you will apply to several credit cards to expand your access to credit. For me this is the month of November. I will usually apply to 3 credit cards I've thoroughly researched. Focus on credit cards with no fees. There is absolutely no reason you should be paying an annual fee on a credit card when there are so many free ones out there. Also look for cash back cards. It means you will earn money just by spending money. *whispers* It's free money. Even if I get approved for all 3 credit cards, I won't use them. I'll just throw these somewhere super safe like my underwear drawer. If one of your new cards gives you a significantly higher credit limit, or gives you lots of cash back, then start using that as your primary and put the rest somewhere safe. Effectively, you are raising your credit limit every year while (hopefully) keeping your expenses the same. On your credit report it will look like you have access to a huge amount of money, but use a smaller and smaller portion of it. It will make you look responsible and in turn raise your credit score over time. Now when you walk into a bank, they'll look at you like you would look at the visiting speaker from South America when they walked into the kingdom hall. Banks may even take you out to eat after (with all that cash back they give you).
As you move through your life, it is very important to have a good credit score. That is what will allow you to get a good rate on a car loan (I don't recommend that, but that’s a story for another day), and also get a good rate on a mortgage when you buy a house. Debt isn't always a bad thing as long as you know how to manage it well.
**6. Make a Career Move! **
This may seem like a crazy option, but it serves a great purpose. If you are stuck in a dead-end job, if you don't make the kind of money you want to be making, or you don't see making a career out of your job, then its time to switch jobs! We have been told to avoid higher education our whole lives but that just forces us in to sh*t dead end jobs dreaming about how wonderful paradise will be instead of going out and grabbing life by the horns. Invest in yourself! Invest in your knowledge! Quarantine lock down is the perfect time to do that, and it doesn't look like its wrapping up anytime soon. Personally, I'm taking online classes to become a Real Estate Broker. This will let me expand what I am able to do with my company and increase my income. These classes were only $800, compared to going to college for 4 years to the tune of $20k+ per year. If you have some savings, use that to invest in yourself! If you want to change to a different career path, then look into what you need to do to make the move. Look for online courses or trade school if you don't want to go to college years or incur lots of debt.
Here's some examples of careers that don't take a lot of education but can take your income to the next level:
*Real Estate Agent or Broker
*Plumber
*Computer Technician
*Programmer
*Electrician
*Electric Pole Climber
*Mechanic
The world is full of options. Now that you aren't committed to studying for 2 meetings a week, attending 2 meetings every week, reading the bible every day, personal study, family study, monthly broadcast, and service on your off days, you should have much more free time to invest in yourself. Take advantage of that and move up in the world! Do what you never could have while drinking the Kool aid.
**7. Side Hustle! **
A great way to increase your income is to take on a side hustle. There are so many you can do (just google side hustles), but some of the easiest to get in to are being a food delivery driver. This is especially good business right now during the pandemic with everyone staying home. Sign up with Doordash, Postmates, Uber Eats, InstaCart, or any other delivery service you can. After gas and maintenance, you will typically earn an average hourly rate of $10-$15. Sometimes more. Like I mentioned in the last point, you should have a lot more free time to yourself now that you are not drinking the Kool aid. Why not take advantage of that time to make more money?
If your primary income covers all your expenses, you can use all your side hustle income towards your emergency fund, general savings, or investing. Personally, I use all my side hustle income towards increasing my investment accounts. Rather than making $10 an hour, in the long run you can turn that money into much much more by investing it.
**8. Start Investing! (Retirement Accounts) **
Now we're getting to the good stuff. Now that you have a bank account, a budget, and an emergency fund, it's time to start thinking about your future. The world isn't going to end in our lifetimes, although 2020 looks pretty dicey so who knows. You are going to want to stop working one day in your old age and relying on government cheese doesn’t give you too much freedom. This is where retirement accounts come in. The two primary types of retirement accounts are an IRA (Individual Retirement Account) and a 401k (four-oh-one-khay). The main difference is that an IRA is self directed, ie. you fully manage the account, and a 401k is employer directed, ie. your employer or benefit provider manages the account.
Let's start with a 401k. Most companies where you would have a career offer a 401k as part of your benefit package. The Benefit part of this package is that your employer will give you free money!!!! Kinda. Back in the olden days of the pre-1980s, a company would pay you a salary, called a pension, when you retired at 60ish as a thank you for your loyalty and career with that company. Then in 1978, 401ks became a thing and employers realized they didn't have to treat you like a human and reward your loyalty anymore. Instead, most employers will match your 401k contributions. It varies by company, but an example is that if you put 6% of your salary into your 401k, your employer will match your contribution adding another 6%. They may match it in full or in part, again it all depends on the company rules. But in some cases this could double how much money goes in to your retirement account just by using this one easy trick. The key to a 401k is that the money has to come directly out of your paycheck, you can't go back and add more later. But this can be a benefit; if you never had that money in your bank account to spend on a pair of Yeezys, it’s almost like you never earned it so you won't miss it. Plus, when you finally do get access to that money in retirement, it will be worth more and you'll be able to buy even more pairs of Yeezys!
On the other hand, with an IRA you can add however much you want, whenever you want, up to the legal limit. The current IRA contribution limit in 2020 is $6,000 per year. There are some tricky ways you can get around that but I won't get in to that here. Just google "backdoor Roth IRA" if you plan on contributing more than $6,000 a year. With an IRA, you get to choose the provider, you get to chose what you invest in, and you get to chose when and how much to invest. If you’re young, a high stock (high risk, high return) and low bond (low risk, low return) mix is best for your retirement account. You can afford more risk since you have more time to recover. However, as you get older you will want to slowly reduce how much you have in stocks and increase how much you have in bonds. The older you get, the more your risk tolerance goes down.
Now let’s talk Roth. To Roth or not to Roth? Well that depends. If you're under 59, you get charged penalties to access your IRA, or 55 for your 401k. In other words, you aren't supposed to access these accounts till you are (close to) retirement age. When you contribute money to a traditional IRA or Traditional 401k, you are contributing pre-tax money. You won't pay taxes on that money until you take it out at retirement age. The issue with that is that hopefully, that money will be worth a sh*t ton more when you retire than when you put it in. You'll be paying taxes on a bigger pile of money! Thats where a Roth IRA and Roth 401k come in. With a Roth account, you are contributing Post-tax money, or money you already paid taxes on. When you go to take the money out in retirement, its tax free! And everything you do in those accounts is tax free! My personal recommendation would be to go with a Roth account, especially if you are young. We all know to "Give to Caesar what is Caesars" (or whatever the f*ck that book says, I never read it), but you want to give Caesar as little as possible so you end up with more money in your pocket.
The best thing you can do for your future is invest in your retirement. You don't want to be working at 70 just to make ends meet. Future you will thank you.
**9. Start Investing! (Personal Accounts) **
Personal Investing! This is investing with (almost) no restrictions! When you invest into non-retirement accounts, you will be able to access this money whenever you want and do whatever you want with it. Almost. Don't buy drugs. Unless you're into that… When I'm talking about investing in this section, I'm talking about stock market investing. The best way to grow your wealth long term is by investing your money. When you invest, your money starts making you money. So even though you work the same amount, and get paid the same amount, by investing your money you are making more money because your money starts working for you. In general, you should be investing for the long term. This is for a couple of reasons - 1. you're more likely to make money over the long term than the short term, and 2. you'll pay less taxes on what you earn in the long term than the short term. Long term would be anything more than a year. Sure, you can go on to WallStreetBets and see people making a killing by day trading, but you can find far more people losing their asses day trading. I’m going to focus on long term strategies.
When you invest, there are 2 main strategies - Growth, or Income. Growth investing is if you want your money to grow at a good rate over time. Your $100 today will be worth $150 tomorrow (Not really that quick, but you get the point). The stock price itself will go up, so when you sell it in the future it will be worth more. Good long-term growth stocks would be Apple, Amazon, Coca Cola, and other large established companies. I would say Tesla, but who knows what the f*ck is going on with Tesla stock. One tweet from Elon can wipe out your investment or double your money. Income investing is if you are trying to get a second source of income. This is through stocks that pay dividends - once every 3 months they will pay their shareholders a piece of the profit they have made. This is straight up cash deposited into your investment account just for owning certain stocks. You can either reinvest this money to grow your investments, or you can deposit it into your bank account and use it. If you're young, the best thing to do is focus on growth and reinvest any dividends you get. Either strategy you choose, you can be making much larger returns on your money than you would on a bank account or by not investing. Investing is magic. Though they won't admit it, even the Borg has sizeable investment accounts to grow their money. Yes, they rely on the world that they condemn so much. As those CSA cases get more expensive, they need more money with which to pay them. The Mormon church has over $100 billion invested, one of the largest investment funds in the world. Investing is the smart thing to do with your money.
So while the people living "the best life ever" are dreaming about where they want to travel in paradise, you can use your growth or dividends to actually go there. The more you cut your expenses, the more you can afford to invest. The more you invest, the more money you will make in the long term. If you invest enough, you can even generate a completely independent source of income from your job which will go a long way in granting you financial freedom. My goal is to invest at least 50% of my income, but currently I'm at 20%. Try to invest as much as you can. Future you will thank you.
The way you choose to invest will fully depend on your comfort level with investing and your investing budget. Yes, you should have an investing budget.
Let’s say your comfort level is zero and/or your budget is very small. Then I would recommend Acorns. Acorns is a round up or spare change investing app. You link your credit cards and bank accounts, and every time you spend, it will round up your purchase and invest that. Say you buy a pastry for $1.75, Acorns will pull $0.25 out of your account and invest it, bringing your total to $2. You can choose from conservative through aggressive portfolios. If you are young, I would recommend you lean more towards aggressive investing. There is more risk involved, but you can also make much more money than a conservative portfolio. If you are young, you can afford some down days in the market. The one issue I have with acorns is that they charge a $1 a month fee, though this is very low.
If you are more comfortable with investing, have a larger budget, but still want a hands-off approach, then I would recommend M1 Finance. This is a portfolio-based investment platform where you pick what stocks you want to invest in, pick how much you want to invest in each based on percentages, and M1 will handle the rest. They have a minimum investment of $100 to open your account, then only $10 each time you invest every time after. For long term growth, I would recommend doing a portfolio with 50% allocation of SPY (S&P 500 Index tracking fund, tracks the largest 500 stocks on the US Stock market), and 50% other stocks you like. Follow the Warren Buffet investment method. Like Coca Cola? Invest in Coca Cola. Like Target? Invest in Target. If you like something, chances are that other people like them too and the stock will keep growing. Every time you add money to your account, M1 will automatically invest it in the allocation you chose. If you chose 50% SPY, 25% Coca Cola, and 25% Target, when you add $10 M1 will buy $5 worth of SPY stock, $2.5 worth of Coca Cola stock, and $2.5 worth of Target stock. This is a great option if you want easy investing, and its completely free.
Now if you're more advanced and comfortable fully running and managing your portfolio, then I would recommend Robinhood. With Robinhood, there are no minimums, and you can buy fractional shares. But you are fully in control of exactly where your money goes when you invest it. You want to buy 10 shares of Coca Cola? Then you click on KO, click buy, type in 10 shares, and boom, you own 10 shares. Robinhood even lets you trade options, but this is effectively just gambling on the stock market and I don't recommend it. Robinhood is also completely free and is a great and easy to use full-service investment platform.
I recommend these because I use all of them myself. I won't include my referral links on this post, but if you want to get some free stuff when you sign up for any of them just PM me which ones you want and I'll send you a referral. With a referral link you can get some free money or free stocks.
Invest your money! It will take you a long way towards your independence from the borg!
**10. Invest in Real Estate! **
Now we're getting really crazy. Though it may not be as crazy as it sounds. I won't go in to too much depth in this since there is so much information.
Real estate is by definition a long-term investment. It is highly illiquid, meaning you can't quickly turn your investment in to cash, but the beauty of real estate is that you can earn a wonderful income off of it. The easiest way to invest in real estate is by investing in REITs, or Real Estate Investment Trusts. These are portfolios managed by companies backed by real estate assets that generate a regular income, usually on a monthly basis. REITs are required by law to pay out 90% of their profits to shareholders. There are publicly traded REITs on the stock market you can invest in (Ticker Symbols - O, BPY, IVR, WPG, PEI, and many more). While the barrier to entry on these is very low (you can buy just one share at a time), and they have higher liquidity, they carry a lot more risk because their price moves with the stock market rather than based on the underlying real estate they own. They do still pay very nice dividends which can supplement your income.
The way that I would recommend investing in real estate would be through Fundrise. They have a minimum investment of $500 to open your account, and $100 minimum investment every time after. Since this is a private REIT, the prices remain stable even if the market is fluctuating like crazy. Personally, my Fundrise investment account is the only one that didn't lose money during the 2020 economic crisis. Plus they pay out very nice dividends, and the real estate assets appreciate nicely. Again, this is a LONG TERM investment. Don't expect to invest today and pull your cash out 6 months from now. Ideally you want to keep this money invested for years. If you want an income, you can set your dividends to deposit into your bank account, or if you want to grow your investment you can set dividends to be reinvested.
Investing in REITs is a great way to get started with real estate investing. Real estate is a "get rich slow" scheme. It may take a very long time for your investments to grow, but they will see very long-term stable growth. If the Borg is nothing else, it is a massive global real estate holding company. They own all the kingdom halls which are essentially big commercial buildings with empty interiors. They have great resale value, and since many of them were built and maintained with free labor, they have appreciated tremendously. So take a book out of the Borgs secret playbook and invest in real estate.
**11. Buy a House! **
This seems like its way out of reach to many people but it's really not. Owning a house is the single biggest indicator of wether a family will accumulate wealth or not. For most homeowning families, their house is their single biggest asset. Real estate has historically always appreciated, so when you go to sell your house or pass it down your house to your children, it will be worth more than when you bought it. Sometimes a lot more. I won't go into a huge amount of detail because again, there is a lot of information.
Once again, real estate is a very long-term asset. So make sure that you are ready to buy a house. Take your time, do your research, and find the right house. Thanks to the magic of leverage by using a mortgage, you only need to put 3% down to buy a house. While this will definitely mean you will have a higher interest rate, it also makes buying a house much more accessible. Say you want to buy a $300k house, the minimum you would have to put down is $9,000! Traditionally you would put down 20% on a house which in this case would be $60k. Always go with a 30 year mortgage, cuz math and numbers; don't do a 15 year mortgage. Yes, it is very daunting that you will be paying for your house for 30 years, but think about it this way - if you're not paying a mortgage, you're going to be paying rent for a place to live. When you pay rent, you are essentially throwing money out the window never to be seen again. When you pay a mortgage, a portion of your monthly payment goes towards equity in your house. You are buying a piece of your house every month, not just throwing money out the window.
When you pay rent, you are paying your landlords mortgage + profit that goes into their pocket. You are the one buying your landlords house for them. When you are paying a mortgage, you are paying interest on your loan + equity in your house (the balance of the loan). You are effectively paying yourself when you pay the balance of the loan because that piece of equity in your house is now yours to keep. You may even find that your mortgage payments are lower than your rent. In my case, I went from renting a 3 bedroom 2 bath apartment to paying a mortgage on a 4 bedroom 2 bath house and my monthly payments went down by over $500!! That's an extra $500 in my pocket every month to do as I please with (like invest it).
Additionally, you can buy more houses and rent them out! Then you become the landlord, and your tenants are the ones buying your house for you. That is the magic of real estate investing. If you want to learn more about mortgages or real estate investing, just watch some Graham Stephan videos on YouTube.
When you're young, buying a house might not be at the front of your mind or in your near-term plans. But you should absolutely plan on buying a house as soon as you have the credit (remember I told you why you need credit?) and the money for it. Buying a nice car might seem like a better use of your thousands or tens of thousands of dollars instead of buying a house. But how much is that car going to be worth in 10 years? Chances are it will have almost no resale value left. It will also be way out of style and may not even run well anymore. But if you put that money down on a house? You will own an appreciating asset (an asset that goes up in value) that you can sell down the road and get your money back.
**Closing Thoughts**
YOU ARE FREE! You have made the biggest step towards having a great life already by leaving the organization. Things may seem very overwhelming right now that you are stepping out from behind the curtain and looking at the real world for the first time. But don't panic! It gets better, I promise you. Me and many thousands of others on exJW can tell you that though stressful, leaving was the best decision we have made in our lives. I hope all this information will help you make some better informed decisions on how to financially prepare yourself to step in to the world. We have all been told that it is too difficult out in the world and that we will never make it, but I'm here to tell you that you can and you will! Focus on yourself, take care of yourself, and enjoy your freedom! :)