What is the mission of the platform ?
The main purpose of Coinsence is enabling communities to create their own currencies and crypto assets to engage people and ressources in joint projects and to reward contributors through sharing the collective created value.
What is the TND COIN ?
TND COIN is a crypto currency piloted within the regulatory sandbox framework of the Tunisian Central Bank. This COIN can help users :
- Ensuring full traceability and transparency of financial transaction
- Enabling decentral management of funds
- Offering grassroots initiatives that are not banked an alternative accounting and transaction solution.
1 COIN TND = 1 TND
What is the IBB-COIN ?
IBB-COIN is a mean of exchange amongst the different actors of the community Impact beyond borders.
What is Impact Beyond Borders (IBB) and who are the actors in the community ?
IBB is an online community aiming to boost social impact projects and innovation. We are bringing local and diaspora change-makers together with different actors.
Impact Beyond Borders an initiative implemented by Coinsence Tunisia and funded by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) as part of « Mobilisation of the Diaspora / ProGreS Migration » a program initiated by the European Union and the German Federal Ministry of economic cooperation and development (BMZ).
The 3 main actors of this community are :
- Projects and initiatives : can apply to receive COINs that can be used to reward investors and supporters within the network.
- The Business Partners : offer products, services and expertise and get COINs that can be spent in the marketplace.
- The Donors and Impact Investors: offer products, resources and discounts and get Tunisian Impact COINs to show their engagement or to initiate new projects.
What are the criteria to start crowdfunding for a project ?
The selection of the projects is mainly based on
- Social impact (relevance of the addressed problem or market need, feasibility and scalability of the solution),
- Financial sustainability.
The motivation and passion of the team also play a major role in deciding which projects are fit to be part of the ecosystem
How is the value of the IBB-Coin determined ?
The value of the IBB-COIN is currently constant (1 IBB-COIN = 1 Dinar) and will change based on the evolution and economic performance of the supported projects.
What if there is no service provider to the designated service ?
Projects which can not spend their COINs can give them back.
For supporters/business partners who collected COINs, they could try to find a service provider and convince him to accept COIN.
IBB is a community project where we are all jointly trying to grow the network.
Are the services on the platform verified ?
We make only trusted service providers visible.
Can I invest using a virtual bank or a bank account abroad ?
The platform enables different contributors to invest through local and international banks.
How is the amount allocated for a project decided ?
The amount allocated to a certain project is decided by the community based on the milestones and mission of the project. Every applicant is also encouraged to submit documents relative to the operations of the project and potential needed resources.
Are the transactions/payments on the platform safe ?
We are using stripe and partnering with a bank to ensure security and compliance with financial regulation. The crypto tokens are in the blockchain.
What happens to the remainder of the funding if the project fails or ends ?
The remaining funds will be recovered and given back to the investors.
Can I offer more than one service ?
Business Partners are free to offer more than one service and bill their service either based on item/service price or based on hour/day rate.
Can service providers exchange services ?
Community members are free to decide how to interact and exchange value. They can use either TIC or agree how, when they want to account between each other. Meanwhile, we strongly recommend the use of TIC.
Can I exchange virtual coins for real money ?
Users are not able to exchange virtual COINs for fungible money for now, they can only use the coins on the marketplace and be part of a community that offers change.