AMA Recap NanoNews with Terra Credit


Thank you to the NanoNews Community for participating in Ask Me Anything (AMA) with Terra Credit on July 31, 2020. This guest star Dan Founder at Terra Credit. If you were unable to join the live AMA, no worries, here comes our 37th AMA recap!

We are glad to meet here
Dan, Founder of Terra Credit
For taking your time out from busy schedule for the AMA!

Introduction Session

Q1: Can you introduce yourself to the community? What is your background and how did you join Terra Credit?

Hi, my name is Dan I am the founder of TerraCredit DAO. TerraCredit began as a passion project over 6 years ago and was officially launched on mainnet in November 2018. I began the project as a single Terran and with some clever planning, a lot of faith and some time we were able to grow to the community as you see it today. I had spent time in my early career in VC and Software Sales 🙂

Q2: Can you briefly describe what is Terra Credit? and what makes Terra Credit different from other competitors?

The new TerraCredit is essentially a decentralised payment platform in the shape of a DAO with decentralized non DPOS based governance and POS staking. $CREDIT is designed for mass adoption by the world’s unbanked population. A suitable alternative to cash. We dont have any competitors in our core market, which is the global unbanked. 2bn Adults with smartphones who do not qualify for a bank account need to start using digital money and thats our niche’

Q3: What are Terra Credit Progress from the beginning until now?

The project is almost 2 years old, we launched on mainnet and we have achieved so many milestones we usually stay 3-6 months ahead of the roadmap. Which is actually more like a record of our progress. At one stage we had 8 or 9 products which we condensed into one app, terrabit.

Q4: What technology stands behind and What are its advantages?

Essentially we are a POW/POS hybrid DAO with masternodes, POW is over long ago so now purely POS, instant transactions, privacy and governance. We lowered the emission a lot and we will only make 1bn new coins over the next 100 years, so we are ready for good things with reduced supply as well.

Q5: What are the major milestones Terra Credit achieved so far & what are in future pipeline?

We launched on mainnet with wallets for every type of device including rasbian, we developed MiniPOS the mobile staking wallet. We built an exchange, merchant payment network, qr payment app and a multi vendor marketplace. all are live and running for over a year. Even now we were supposed to deliver privacy buy end of the year but it will be done in August 2020.

Twitter Session

Q1: I understand that TerraCredit is the first currency that operates with MiniPOS. What does it mean that your currency is MiniPOS and what impact can this characteristics have over other currencies?

MiniPOS is the name of our mobile staking wallet. MiniPOS was developed to deliver the benefits of POS to mobile users with smartphones. This really helped us to grow rapidly as staking $CREDIT became a passive income stream for our unbanked users who cannot afford computers to stake on desktop wallets.

Q2: How do you think CREDIT can replace fiat money? Stablecoins currently exist and have no volatility issues, why should we use CREDIT?

Yes stable coins are great but they offer 0 upside potential. A big part of what we are doing is working with non crypto users and the potential upside of holding $CREDIT is a big factor in incentivizing their decision to adopt crypto or not. Take BTC for example, if were not for the fortunes that were made no one would really use it at the scale we see today. Our focus is on transaction speed and cost as well as usability and accessibility for unbanked users. For us the conversion of crypto to fiat and vice versa plays a much bigger role that volatility, it is for this reason that we offer a wide range of fiat solutions to unbanked users. I would argue that we host the largest and newest body of crypto newbies in the world.

Q3: Please tell me what the speed of transfers of $Terra credit depends on, and what speed is it? Can Terra credit be integrated into other blockchain platforms or is this not necessary and why? Thanks

176 tps (Transactions per second) and the option and 0 confirmation instant transactions. Thats all depends on what you mean by platforms, our code is open source and anyone can integrate our technology. We are traded at 5 exchanges and have recently been added to coinpayments (Leak ) .

Q4: Now many crypto product claim their product is a cash alternative, so What is the competitive advantage of Terra Credit against similar project?

First of all we dont have any competitors in our target market, secondly we believe that all the cash replacement services anyone will need can be delivered through an app. thats our plan, we use our app Terrabit as a wallet, payment app, merchant netwoprk and crypto exchange all in one. The main benefit is that users and merchants who transact with one another on terrabit dont pay any fee’s. We developed QR technology for instant contactless payments with no fee’s or commissions. The only time a users pays fees is when they sue fiat transactions. So lets break it down, 0 fee’s instant payments all in an app with contactless qr scanning. Much better than cash.

Q5: Terracredit swap Swap is complete by 3 August 2020, please can you explain more about this SWAP PROCESS, would it be supported by exchanges or only on Terra official wallet?

Up until the end of today the current $CREDIT blockchain pays 100% per year POS Saking rewards. This has been the rate since we launched on mainnet in 2018. The time has come to reduce those rewards and improve our standing as a payments processor. A POS based DAO with masternodes for delegration. The new CREDIT which is live from tomorrow features instant, private and low cost transactions. But the emission has been reduced greatlty, which will see the previously stable price of CREDIT skyrocket as demand grows but supply diminishes greatly. All exchanges support the swap and its totally automatic at all exchanges.

F: I want to ask you about DeFi, are you interested on DeFi? What’s opinion?

Defi is great as a custodian but not always good for payments specifically. i believe in defi 100000000% and I believe if things like democracy were moved to smart-contracts then we would see truly free and fair elections. I trust blockchain in any situation but I think each type of application is useful in its own instance.

DEFI transactions can be expesive and take time compared to instant 0 confirmation payments.

Like the ones we offer in our DAO.

Live AMA

Q1: Currently attracting real users and mass Adoption is a problem for Blockchain projects. So how will $CREDIT solve this problem?

We are after unbanked, no one else is presented apart from credit. So our process is still tough but uncontested. We have opened a community access branch in Nigeria : our recent launch party. This is how you have to get unbanked users, they are not on social media. You need to take your business to them, they require intense training and support, but they are ready and eager to learn 🙂

Q2: I am a crypto investor and I only care about prospect of a crypto that I chose, tell me the reason why I should choose $CREDIT token over the existing one ? What is your token advantage that can convince me to change from my favorite token ?

Africa is the new crypto frontier and $CREDIT is Africa’s crypto of choice. Our rate of growth is rapid in an unexposed market. We specialize in crypto fiat conversion whcih makes crypto , namely $CREDIT , usable in real life. This is one of the many factors that propel our growth. We launched with zero funding, we managed to close with a 45% ROI and now with smaller supply and reduced emission we will catapault.

Q3: TERRACREDIT uses proof of Stake (PoS) arrangements. Why choose Proof of Stake Technology? What made you decide to become a proof of stake when most leading blockchain companies use proof of work (PoW)?

We use proof of stake because the “miner” needs to put his capital investment into the coin $CREDIT. This is key to driving demand and removing coins from circulation. POS that we use is Quark based and can be mined on a range of devices including mobile phones, where as POW is extremely power hungry.

Q4: One of the best stuff of Terracredits is the Mini PoS system from the Mobile version, but i have understood that the days of 100% are counted so what is Next after this? How you Will keep this Awesome attractive point to the Mobile users like me?

This is a good question, year 1 will be about 10% but this will get less and less each year. Because the reward is not % based, its fixed 20 per block. So the emission for year 1 is about 10% and it will gradually decrease each year.

Q5: COVID 19 has slowed many economies around the world but as a crypto business has it affected you negatively or positively? Secondly, are you still on track to achieve your targets as the road map says??

The pandemic is an absolute disaster, globally it will take decades to recover from the financial implications. However I feel that unfortunately but fortunately it is good news for Crypto. This opinion of mine is centered around some pretty harsh truths but the basics are obvious. Cash is in its final death throws. The passive income aspect of staking on your mobile has seen thousands earn a living throughout lockdown.

Q6: With the boom of cryptocurrencies, many projects have been launched and many projects, companies have gone bankrupt. What strategies have you given to stabilizing prices especially the volatile volatility of BTC, the future strategy to enhance the value of TERRA CREDIT?

IMO crypto is gonna boom this year again. And yes you are right many projects raise money and deliver nothing. I delivered everything and never raised money., We pumped during lockdown and right now we are stronger than ever. We have delivered os much without taking anyhting from anyone, I only know of one other project that started the way we started. I used the btc model to $CREDIT, no fundraising, just good mining and a community. We are listed at 5 exchanges including and Hotbit with other in the pipeline, like crex24 that goes live ina few days.

Q7: How do you ensure that there is IMPOSSIBLE performing a 51% attack on terracredit, what protects the network about that, is it infallible?

thats only an issue for POW bl😰ckchains where anyone can rent power and bruteforce the blockchain. in $CREDIT you cannot do that, we have over 23k solo miners compared to BTC’s 3 major mining pools. We are extremely decentrlaized in comparison to 99.99% of cryptos.

Q8: Can you talk more about your current biggest challenges and what is the strategy in place to deal with them?
What is the progress of business development and what are some of your commercial partnerships?

Funding has always been an issue, that has been solved by the governance model of the new DAO. Our partnerships include:


Q9: As what i know Ceo Daniele Ronchese never decided to have partner with any project and all i can say how did he create the Terracredit on his own way? What movitation he got to do all this kind of project?

I am a child of Africa. I have travelled the world in my youth but I returned home. You only need to look outside your window to see the need for change everywhere. There is a big problem in Africa. Presidents and cohorts steal everything and print more money creating massive inflation. They kill millions through famine and bad economics. I am just a problem solver, a bitcoin early adopter who is in a position to make a better option for all those billions suffering. So I did.


Telegram Group:
Telegram announcements:
Official Website:

Thank you for trusting NanoNews as the organizer of the event today, hopefully everyone can understand about Terra Credit

Join our Telegram group and you can talk directly with other Communities and enjoy some of the events that we created for Nano Gang, We are always here to support the current adoption of cryptocurrency in Indonesia


Please enter your comment!
Please enter your name here