Sept 29th, 2020
DigiFinex AMA Recap – Achieving Digital Payment in Arabic countries
Every blockchain project involves a story behind, big or small. Whether it is an opportunity turned business development, or a sudden change of career path, all of these details are what supported and brought forward to the projects we witness today.
In the 7th AMA, on September 24th, we have invited the CEO of DigiDinar Technologies (DDR), Ali Ahmad Ghareeb, to share with us the Kuwait based technology company that is founded by himself and the story behind. As well as his ultimate wish to realize DigiDinar to achieve digital payment in Arabic countries.
Guest of the night, Ali Ahmad Ghareeb, CEO of DigiDinar Technologies
Ali is a Bitcoin expert and a trader, expert in technology innovation and an entrepreneur. He graduated from ACS Flight Training School and majored in Aircraft Maintenance Engineering/ Mechanical Engineering.
Host of the night, Kiana Shek, DigiFinex CXO
Previously working for Baidu as Assistant General Manager, Kiana has had advanced education in the financial field, also obtaining a rich background in Big data, AI, international businesses. In 2017, she founded DigiFinex as a Co-Founder, and dedicated to provide a safer, convenient, transparent digital asset exchange platform for the people. She is also responsible for promoting brand values globally on behalf of DigiFinex, and actively takes part in various Blockchain summits around the world.
Below is a highlight of our Live Session:
# Ali Personal Interview
Kiana: Hello everyone, today we have invited DigiDinar’s CEO, Ali Ahmad Ghareeb as our guest speaker at DigiFinex AMA Live! Welcome Ali, you may first greet our audience and briefly introduce yourself!
Ali: Hello everyone peaceful greetings to you all. Thank you DigiFinex for this informative AMA. It’s a pleasure to be speaking with you Kiana.
Kiana: I have learnt that you have graduated from an Aviation School, worked as an aircraft engineer and studied as a pilot. Now, you cross from the hardware field to the cryptocurrency industry, this has aroused my interest. Could you share with us how you paved the way for this career path?
Ali: Well basically I was tired of working & studying for a company which I don’t even own a share of. I found it hard to end up on a monthly salary that can hardly pay the bills after all the hard work and study that I went through. I found out about bitcoin in 2015 and the Cryptocurrency markets made my business so much easier.
# The Story behind DigiDinar – Achieving digital payment of goods in the Arab region
Kiana: Great, interesting sharing! In every DigiFinex AMA, there’s always a set question prepared for our guest – The story behind. Could you tell what was your initial purpose to establish DigiDinar? And what is your ambition behind it?
Ali: Our initial purpose was to build awareness in Kuwait and Gulf countries about cryptocurrencies. Although we might lack knowledge when it comes down to digital payment and digital solutions. And in the Gulf, we tend to outsource and look for foreign companies rather than innovating our local companies into doing the work itself.
DigiDinar was built on the concept of digitizing Kuwait in Trade, Technology, Online Safety, Education and offering digital currency services for Kuwait and Worldwide. We started DigiDinar back in 2017
Establishing a global network of DigiDinar members was our key to success in the current global markets.
Kiana: Could you introduce to us what are the innovation and advantages of DigiDinar, and plans for the future? What goals do you plan to achieve?
Ali: At DigiDinar we invest our time in making Kuwait more digitally advanced. Our goal is to make Kuwait more Digitally Aware when it comes to trading and safety online. Our plan is to Digitise Kuwait in every aspect when it comes to technology and business we are keen to make our stand in the development of Tech in Kuwait.
Kiana: What is the development of the cryptocurrency industry like in Kuwait currently? Are local companies or the government supportive towards this industry?
Ali: Kuwait has known about bitcoin from the very start we have always been one of the early investors who went on board the forum and started to buy bitcoin in large amounts.
Obviously it is allowed to buy and sell bitcoin as a person or a general trading company. The laws on this can be found easily online. The government does support international trade being in the case of technology trading companies but from what I’m aware of it is not allowed for a banking or an insurance institution to offer bitcoin accounts to their clients but this does not mean they cant use the technology to their advantage.
This again does not mean the banks can’t trade in digital assets, nevermind bitcoin. If the technology is enabled to meet a trade demand then it’s very important for any government to accept any technology that a trading company wishes to use to make their trade more effective.
Kiana: In the start up period, did you get any help with funding or loans or government to achieve your business goals?
Ali: Thankfully no we did not receive any loans or any sort of start up funds. We used our own savings and it was our own daily hard work that made us successful in the end.
We registered our trading capital for our start up as 10,000 KWD (approximately $33,000) when we officially launched our company back in 2018. In the first financial year of 2018- 2019 our financial records for gross sales was over 2 million dollars.
Kiana: Right now, is DigiDinar working with investment from foreign companies or partnering with other Exchanges or Supplier exchanges?
Ali: DigiDinar is 100% independent with no local or foreign investments as a capital in our startup nor any Initial funding was received for our company. All DigiDinar Core Members are situated in many locations across the World.
DigiDinar is a private limited company run by a smart team based in Kuwait & Worldwide.
Kiana: Will you consider these collaborations in the future in any case?
Ali: DigiDinar would consider collaborations when it comes to expanding markets across the World. DigiDinar would not accept any loan or any sort of sale of our company in any way.
Kiana: DigiDinar has previously launched two tokens, DDR and DDRT respectively, what are the differences in both tokens?
Ali: DigiDinar (DDR) Is a Fork of PIVX which serves as a Proof of work and Proof of stake coin that allows our members and anyone who uses the DigiDinar public network to stake their digidinar holdings within their wallets. You can use DigiDinar to mine in your wallet by locking 10,000 DDR as a collateral to run your Masternode inside your wallet or by using a mining pool.
DigiDinar Token (DDRT) is a Fork of Ethereum and is an ERC 20 Token that serves as contributions towards our company DigiDinar Technologies. It also serves the purpose of enabling our DigiDinar members to be able to trade the digital markets as fast as possible. Our members are able to buy Digital Currencies near instantly using our local & international payment methods.
Kiana: How is Kuwait benefiting from DigiDinar technologies?
Ali: We are the main education outlet when it comes to Blockchain in Kuwait. We are teaching many people who are trying to learn how to trade digital currencies online.
We have frequent seminars in which we introduce our technologies to Kuwait and neighboring countries trying our best to make Kuwait Digital!
Kiana: Coming to the last question, do you think DigiDinar could help the Arab region to achieve digital payment for commodities? And what other projects have you been looking at lately?
Ali: We have been doing regular events every 3 months, to host educational seminars for technological development in Kuwait and around the world. We believe starting from educating the people will be able to position a mindset in trusting the system as well as giving capital to invest in the assets.
We also have been actively getting listed at exchanges across the World, thanks to our listing manager Marie.
For project, it would be our Golden Ratio Coin (GOLDR) project, created by our real estate company that is definitely a smart choice.
Kiana: Thank you Ali once again for your heartfelt sharing with us today. Not only do we understand about how popular digital assets are in Arabic countries, the potential of it and the overall positive sentiment also shows a bright future of blockchain there.
We had a great AMA session with Ali Ahmad Ghareeb, and had the chance to understand how did he start his company and planned his listing project from the beginning. Certainly it’s never easy doing it when you’re the first one, but time will tell whether it is worth it or not. Guess Ali was right about his intuition!
DigiDinar is an online digital asset secondary market trading platform based in Kuwait, providing real-time and secure trading services and the best cryptography, allowing users in Kuwait and all over the world to trade cryptocurrency conveniently and without burden. Every 3 months, DigiDinar will host educational seminars for technological development in Kuwait and around the world, and its exclusive DigiDinar.Com members will be invited to participate in every event.
To watch the AMA Live, click: AMA | Achieving Digital Payment in Arabic countries
Sources: DigiDinar Technologies