FAQs

 

CRYPTOCURRENCY FAQs

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What are cryptocurrencies?

 

At it’s simplest, Cryptocurrencies are  digital assets that started as a medium of exchange for people to buy goods and services. Over time, their functionality has expanded.

 

Other than as a method of payment, what are other functions of cryptocurrencies?

 

Cryptocurrency values can be pegged to underlying assets such as central bank digital currencies,  privacy coins (senders and receivers are anonymous), governance tokens (gives owners the right to vote in decisions regarding blockchain’s future development), utility tokens such as the RAYx Token, non-fungible tokens or NFT’s (distinct characteristics from all others).

 

How are cryptocurrency transactions recorded?

 

Cryptocurrency transactions are recorded on a shared, digital ledger called a blockchain. This is decentralized technology, spread across many computers, that records every transaction.

 

Are blockchain and cryptocurrencies the same?

 

No. Blockchain is the technology that allows for cryptocurrencies to work. It is a decentralized and digital ledger of transactions used for cryptocurrencies and other assets/functions. It is important to separate the technology behind cryptocurrencies from the actual cryptocurrencies.

 

Help me with the lingo — crypto, coins, tokens, ICOs.

 

Here’s a brief glossary:

 

Crypto — umbrella term for all digital and/or virtual currencies

 

Coins — Generally, a cryptocurrency that has its own separate blockchain

 

Tokens — Generally, a cryptocurrency that is built on top of an existing blockchain, e.g., some companies issue their own cryptocurrencies, called tokens, which can be used to purchase goods and/or services specifically from issuing company, in some circumstances at a special discount, e.g. the RAYx token.

 

ICO — Short for Initial Coin Offering, this is analogous to a privately held company going public via an initial public offering (IPO)—a way to raise funds for a new cryptocurrency or expand services for existing coins

 

Why are there so many cryptocurrencies?

 

People saw the success of Bitcoin and tried to improve existing functionality and provide new functionality with new cryptocurrencies. Additionally, investors and developers were certainly trying to make money.

 

Can cryptocurrencies fail? 

 

Yes. It is estimated that between 2,000 and 5,000 cryptocurrencies have failed. This is for a variety of reasons: lack of funding at start and after launch, failure to evolve, and a few were outright frauds. Many of the failures happened during the initial coin offering boom of 2017–2018 and some were simply not robust enough to survive the 2022 market downturn.

 

I hear cryptocurrencies are used for illicit/illegal activities; is this true?

 

Since cryptocurrency operates on a decentralized network that lacks a central authority, it is possible to exchange cryptocurrency without registering an identity. Since the start there have been criminal activities with cryptocurrencies. However, the blockchain publicly records every transaction, and while names are not assigned to addresses, you can trace activity back to a crypto exchange, which knows the end user. The estimates vary for how many transactions are for illegal activities and proponents of cryptocurrency point to illegal activity with traditional currencies. (Source: NY Times article Jan 2020)

 

How do I purchase RAYx tokens?

 

There are a couple of methods, but the simplest and least expensive is via an online cryptocurrency exchange. You establish an account and from there, you transfer in cash and purchase the cryptocurrency of your choice. The exchange will allow you to buy, sell, and hold cryptocurrency. The user experience, fees, and identification requirements all vary based on the exchange, so it is important to conduct research before you do anything. Some of the most popular are Coinbase, Crypto.com and Binance . Additionally, traditional online brokers are starting to offer services such as eToro and Robinhood. Further, fintech and technology companies are starting to offer these services (for example, Revolut, Square and PayPal).

 

What is a crypto wallet? 

 

Simply put, a crypto wallet is a place to store digital assets more securely than just on an exchange.  You hold your wallet via an exchange account, custody wallet, or outside of the exchange. You can establish an online or “hot” wallet that is internet connected—to your desktop, table or mobile phone. There is also the option to store on a device that is not connected to the internet (“cold” wallet). Cold wallets are the most secure way to store your cryptocurrency, but they are meant for longer-term holdings as they are not connected to the internet. With cold storage, you must remember your private keys (identifier number for your cryptocurrency).

 

Is it true you can trade 24/7?

 

Yes, on many exchanges you can place an order at 11 a.m. Sunday or any other day and time. Many cryptocurrencies trade 24 hours a day, seven days a week.

 

Can I be hacked?  What if I am hacked? 

 

Unfortunately, there is a history of exchanges and online wallets being hacked. This is one of the key reasons to thoroughly research where you trade cryptocurrency and securely store your digital assets.  If you are hacked, there is not FDIC insurance or anything similar. If you have a large position, you can purchase individual crypto insurance. Additionally, some exchanges finance their own insurance plans in the event of a hack. The insurance coverage is generally capped and not guaranteed, so there is still a risk of loss.

 

Is institutional adoption increasing? 

 

There was an increased institutional adoption over the past four to five years from traditional banks, newer technology companies, endowments, and pensions. As examples, Square and PayPal are now allowing users to buy, hold, and sell cryptocurrencies via their apps and use them for payments in certain instances.  Asset custodians are also working on products and services, such as Fidelity with its Digital Assets Group.

 

What’s next? 

 

This is a rapidly evolving space on all fronts: development, investment, regulatory, and trading. All the areas surrounding cryptocurrency—trading, execution, custody—will continue to become more efficient, less expensive, and safer as the market matures and more institutional players get involved.  Governments are considering additional rules, regulations, and disclosures for consistent identity collection, reducing illegal activity, and tax collection. There is still not consensus about the best use case and even what that is (viable alternative currency, store of value, investment, speculative, etc.) and that is okay. Ultimately, the stakeholders and marketplace will determine the next decade of cryptocurrency.

 

COLDLASER and the RAYx token

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What is the RAYX Token?

It is a Utility token which will entitle the holder to either a 50% discount or a cost based discount (whichever is the higher) on the purchase of our first product. It also empowers holders to purchase COLDLASER NFT's. 

Where can I buy the RAYX tokens?

You can purchase the RAYX tokens on the following exchanges: 

A.    Coinbase
B.    Crypto.com
C.    Binance

Can I make payments from different wallets?

Yes.

I’m a US citizen, can I purchase RAYX tokens?

The short answer is no. Unfortunately, Investors from the United States are excluded from participating in this Token Launch.

What countries can people participate from?

To comply with international sanctions law or to avoid the risk associated with countries that have regulatory uncertainty regarding cryptocurrencies and tokens, residents of the following countries are unfortunately not able to participate in the COLDLASER Token Sale:

Democratic People’s Republic of Korea (North Korea)
Democratic Republic of the Congo (Congo-Kinshasa)
Islamic Emirate of Afghanistan (Afghanistan)
Islamic Republic of Iran (Iran)
People’s Republic of China (China)
Republic of Cuba (Cuba)
Republic of Iraq (Iraq)
Republic of the Congo
State of Libya (Libya)
Syrian Arab Republic (Syria)
Tajikistan
United States of America (USA)
Russian Federation (Russia)

People from countries not listed above are able to participate in the COLDLASER Token Sale, however COLDLASER Ltd., reserves the right to add countries to the excluded list, if legal circumstances change that may require us to do so.

How will you use the funds you generate from selling RAYX tokens?

We will use the funds generated to bring our vision of cleaning windows and other surfaces using lasers and drone technologies to a reality. The stages and funding requirements are laid out in our White Paper in our USE OF FUNDS Section.

Why are you launching on Cardano?

We selected it because it's Fast, Secure, Efficient, Scalable, Low gas fees, Mining requires lower power consumption (because it uses Proof of Stake rather than Proof of Work). Cardano’s hard fork (called Vasil) means that the transaction block size will be larger. This is important because transactions will be faster as a result (i.e. the platform will be able to handle a significantly higher volume of simultaneous transactions). We believe that this is also why it will survive crypto market volatility now and in the future. Our confidence in this platform is further underpinned by the forthcoming phase (called Basho).

 
When is the Token Generation event?

TBC

How long will it take for the total supply of RAYx tokens to be distributed?

Ten Years

What is the Utility element of the RAYx token?

The RAYx token will entitle the holder to either a 50% discount or a cost based discount (whichever is the higher) on the purchase of our first product. It also empowers holders to purchase COLDLASER NFT's. Last but not least, it will entitle holders to be elected to a seat on our Steering Committee, once Basho launches.

Do you only accept ADA for RAYx? 

Yes.

How many RAYx tokens are allocated to the Public Token Sale?

85,053,129 RAYx (4.25% of total supply).

How do I know RAYx is on Cardano's Blockchain?

You can enter the RAYx policy ID at cardanoscan.io to verify the information on-chain.

What is the legal entity that is issuing the RAYx Token?

The RAYx Token will be minted and distributed by COLDLASER Limited.

How does the laser and drone tech work?

We are developing a Laser cleaning process for specific use with glass surfaces is known as Ablation. Normally the energy from the laser passes through the glass substrate and is not absorbed by it. However when the laser beam comes in contact with (primarily) organic and other forms of non-translucent matter such as soot and dirt on the surface of the glass the laser energy is absorbed by this matter and heat is generated. In less technical terms, you can imagine that the layer of surface dirt to be removed is simply vaporized by the laser beam.
Each Drone scans the environment, and combines the real time map built by its sensors with existing mapping data thus creating a 3D replica of the target building and any obstacles, whether stationary or moving. This data and it’s geospatial position with reference to any other drones present is constantly logged on the Cardano Blockchain.

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What is the business model going forward - domestic or commercial?

We are building a manufacturing and sales organisation and we intend to sell our products to the domestic market globally. 
As part of this strategy we intend to develop a highly specialised services division to tackle commercial cleaning challenges we have identified going forward. 

Why should I buy the RAYx token? 

As an early adopter you will have an opportunity to benefit directly from: (a) the ability to purchase our products at significant discounts, (b) the opportunity to join the unique group of external, neutral advisors that will help steer the company and keep the COLDLASER Team focussed on our drive towards constant innovation and product improvement, (c) the ability to use RAYx to pay for our cleaning services at a discounted price. 

 

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