FAQ - GEOCASH (v3)

GeoDB Main Network

  • Is the current GEO obtained the official token?
Yes. This is the official GEO mainnet token, so you can do whatever you want with it.
  • I was using the app in the test network, and I had some GEOs. Have I lost them?
No. Those users who contributed at the testing stage can swap the GEOs obtained in the testnet for mainnet GEOs; the way to do it is explained in several posts on www.geodb.medium.com
  • Is the monetary incentive policies set somewhere?
Not yet. We are looking at different options. But it will exist, and it will be published on our website.

geoCash

  • What is geoCash?
It is an app, developed by GeoDB, that rewards users in exchange for sharing their anonymous data.
  • What is a GEO?
GEO is the token rewarded to geoCash users when they share their data. GEO token currently exists on ETH, BSC & Polygon networks. you can find out more about GEO on CoinGecko.
  • What is necessary to operate with the GEO?
i) Any BSC/Ethereum wallet, ii) an application compatible with the ERC20/BSC standard (like geoCash) and iii) GEOs to be transferred.
  • I sent GEOs to the exchange X, and they don't show up on my account. What's going on?
The exchange is operating with GEOs on the mainnet. Although the same source code is used in the contract, it does not have the same address. In other words, it's not the same token.
  • What is a KG or an MG?
These are different ways of counting GEOs. A GEO has 18 decimals, and there are millions of them. To facilitate operations, we need to use different notations.
  • What units are there?
  • 1_000_000_000 GEO = 1 GigaGEO = 1 GG
  • 1_000_000 GEO = 1 MegaGEO = 1 MG
  • 1_000 GEO = 1 KiloGEO = 1 KG
  • 1 GEO
  • 0.001 GEO = 1 miliGEO = 1 mG
  • 0.000_001 = 1 microGEO = 1 μG
  • 0.000_000_001 = 1 nanoGEO = 1 nG
  • 0.000_000_000_001 = 1 picoGEO = 1 pG
  • 0.000_000_000_000_001 = 1 femtoGEO = 1 fG
  • 0.000_000_000_000_000_001 = 1 attoGEO = 1 aG
  • What data is shared?
Currently, the application shares locations, battery levels, device information, telephony signals detected, and the list of applications installed on the device.
  • What does GeoDB do with this information?
The data is used to generate verified datasets that are acquired in GEOs.
  • Is it possible to acquire a given user's data?
No
  • Is my email linked to the information I share?
No

geoCash Elements

  • What is a wallet?
Digital resource that allows users to manage cryptocurrencies or tokens. Therefore, they can store, send and receive tokens.
  • What is a mnemonic?
Set of 12 words that are considered as a seed to generate a wallet. Thus, it is possible to recover/load your wallet from its mnemonic.
  • What is a private key?
Key represented as a hexadecimal number used in cryptography for encryption and authentication. Every private Key has associated a public key that is used for identification. Each wallet has a private key.

geoCash Functionality

  • How a new wallet is created?
Each new wallet has associated a name and is created from a private key. GeoCash generates a random private key, and after that, the user has to encrypt this Key with a password. This adds a security layer so nobody can use that private Key without the encryption password. After that, the wallet is created, and it is displayed the address, the mnemonic, and the Private Key associated with the new wallet.
  • How many wallets can I have?
There is no limit of wallets, so you can have as many wallets as you want.
  • How can I obtain GEOs?
The way to obtain GEOs is by sharing your private data. The more data the user shares, the more GEOs he/she will receive. or you can buy $GEOs from exchanges like uniswap/Pancakeswap.
  • Can I send GEOs to other users?
It is possible to send GEOs to other users, but to do so, it is necessary to pay in BNB the gas fee established in Binance Network. Therefore, you need to have enough BNB to pay the fee.
  • Can I receive GEOs from other users?
You can receive GEOs from other users by sharing your wallet's address. The app helps you to share the address by depicting it in a QR code.
  • How can I redeem the obtained rewards?
First of all, tap on the Rewards section on the Home screen. This will open a screen that shows the balance of rewards, a list of recent transactions, and a button to redeem rewards.
Secondly, tap on the Redeem rewards button, and you will see a message to confirm that you want to redeem all your accumulated rewards. To do so, tap on the Burn button.
Once you have tapped on the Burn button, you will need to introduce the PIN you used to create your wallet and tap Continue. After few seconds, a new screen will be displayed to complete the process.
Thirdly, you need to choose the amount of gas you want to pay to claim the rewards (by default, select the standard option) and tap the Claim button. The process might take some time, so be patient. When the claim is completed, a message of success will be displayed.
  • What happens when I logout?
Logging out only stop sharing your data, so your wallets are not deleted.

Home

  • What is displayed on the Home screen?
The Home screen displays at the top the main wallet with its balance; at the middle, the balance of other wallets (GEOs and BNBs) and the obtained rewards; at the bottom are shown the rankings and a button to share your referral code.
  • How can I access the wallet info?
You only need to tap on the top of the Home screen. After that, the info of the wallet will be displayed, showing the name, the wallet address, the encrypted private key, a button to activate/deactivate the wallet as the main wallet, and a button to delete the wallet.
  • Why I do not have GEOs in the wallets section if I have some GEOs in my main wallet?
The GEOs displayed within the wallets section are those that have been redeemed or bought from an exchange platform.
  • Why I do need BNB ?
Since GeoCash is now on the BSC network, BNB tokens are necessary to redeem the obtained rewards.
  • How can I obtain BNB tokens?
BNB tokens can be bought in on any crypto exchange (e.g., Binance). You can also buy them directly using trustwallet.
  • What is displayed in the Rewards section?
The Rewards section shows the number of rewards that have not been redeemed yet and a progress bar that depicts the time remaining until next reward.
  • What is depicted in the Rankings section?
The Ranking section shows your position in the mining and invitations rankings (see Referral section).

Profile

  • Which data is included in the profile tab?
The profile tab includes the username, your position in the mining and invitation rankings, your invitation referral code and links to interesting elements such as the FAQs or the terms and conditions to use the app.

Stats

  • What is included in the Stats tab?
This tab includes the number of rewarded GEOs, and a chart that depicts the data shared and the GEOs rewarded in a specific period (week, month, year).

Social

  • What is shown in the social tab?
This tab includes links to get updated with GeoDB news. You can read lasts posts published by GeoDB on Medium, follow us on different social media channels, or access our website.

Referral

  • What is the geoCash referral program?
It is a program in which, if a user creates a wallet introducing the referral code of another user, both users will receive a reward in GEOs.
  • How does the referral program work?
Every time a user creates a wallet, a specific alias is associated with the wallet. Using this alias, GEODB generates a referral code that the user can share with other users to receive rewards.
  • Can I change the alias of my wallet?
Yes. The user can change the alias of a wallet at all times that he/she wants. Nonetheless, the referral code associated with the wallet will not be updated.
  • How can I share my referral code?
You can share your referral code by clicking the "Share your Referral code" button at the home screen or accessing the profile tab.
  • How can I share the referral code of a particular wallet?
The referral code set by default is one of the active wallets. If you want to share the code of a different wallet, it is necessary to set that wallet as the active wallet.
  • How many referral codes can I have?
Each user will have as many referral codes as wallets he/she has.
  • When are the referral rewards sent?
These rewards are sent to the users' wallet address as soon as the system verifies that the referral process is valid. This task is essential to prevent system abuses.
  • What are the "mining ranking" and the "invitations ranking"?
The mining ranking is a ranking of users sorted by the number of locations that they have shared.
The invitations ranking is a ranking of users sorted by the number of invitations they have sent.
GeoDB
GeoDB is being created and developed by GeoDB Blockchain Limited, a London based company whose corporate mission and goal is to ensure the development of the ecosystem, build a financial sustainable model, democratize the crypto culture by ensuring open access to the platform, encouraging the network growth and safeguarding that the platform becomes fully decentralized over time.
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