FAQs2021-02-25T02:47:10+00:00
What if my business is a non-profit?2021-02-25T02:25:07+00:00

Processing Fees

Non-profit organizations can lower operating costs by removing bank fees or third party processing fess every time someone donates to your organization. Merchant transactions can cost nonprofits anywhere from 2 to 6% which affect your bottom line. Portions of all transaction fees are held exclusively towards a verifiable community venture. If your Non-profit organization is registered with SableAssent then you could qualify to receive a rebate for every transaction as well.

Instant Settlement

SAC1 can act as a cash transaction. When a transaction occurs, funds are in your account and the organization does not have to worry about charge backs. Also, both parties have to approve the transaction on a publicly verifiable ledger. All donations can be tracked for record keeping purposes as required.

What should I tell my customers about their privacy with SAC1?2021-02-25T02:19:15+00:00

By using our SAC1 customers can keep their identity safe when making transactions.

When customers use their credit cards, they give merchants their card numbers but they are also giving away the private information it took to create those cards. Therefore, when a customer’s credit card number is compromised their name, address, phone, social security, birth date, and driver’s license are also compromised. Credit card numbers can change but names, socials, birth dates, and driver’s licenses will stay the same.

SAC1 Token transactions do not share personal data when making purchases. Counterfeiting and identity theft are almost nonexistent, because no customer personal information such as name, address, social security, birth date, and driver’s license are ever used to perform transactions!

What are your merchant processing fees?2021-02-25T02:14:49+00:00

Merchant fees can cost business anywhere from 2 – 6% on transactions. That drastically affects your bottom line. Some businesses have minimum purchase amounts to cover the cost of merchant fees. With SAC1, since there is no third party (banks, merchants, gateway processors) transaction fees are significantly lower in comparison.

Transaction fees are broken down into 20% portions. Each fee portion is held exclusively towards a verifiable community venture. SableAssent Coin Corporation only receives 20% of all transaction fees for administrative costs. Fees are broken down as shown in the diagram below:


Own Your Business Transactions

Owning stake in SAC1 and other similar blockchain technologies is the only one way to own your wealth where the account is actually owned by you. Since you have to download a copy of your balance key file and in some cases even the entire transaction list, you have total control of your money not the bank.

How do you handle charge backs?2021-02-25T02:03:11+00:00

Due to the nature of SAC1, funds must be in the customer’s account before a transaction can occur. Your business will never have to worry about charge backs because the customer’s wallet must digitally approve the transaction. This process happens automatically and it prevents customers from spending more than they have.

Can I Do Business Over Seas?2021-02-25T02:01:34+00:00

When you add SAC1 to your business you can provide services to businesses and individuals globally. SAC1 is not bound by exchange rates, interest rates, or transaction charges across international boarders. In fact, there are no borders when it comes to SAC1. Your customers can exchange their country’s fiat currency into (and out of) SAC1 by accessing one of our many exchange listings on LAToken.com, p2pb2b.com, and btfxt.com.

Is There Any Business Liability?2021-02-25T02:00:44+00:00

There will always be a level of risk in every business venture. Fortunately, Identity Theft Prevention comes as an inherent benefit when using SAC1. Last year businesses lost over 700 million customer records and payed over 9 billion dollars in fees because of identity theft and losing customers data. On average it cost a company spends 21,000 dollars a day when a data breach occurs for over 30 days.

Using SAC1 transactions will eliminate any possibility of identity theft since your customers will never need to provide their personal information in order to clear transactions on the network.

How can my businesses get involved?2021-02-25T02:35:52+00:00

The first step in creating global wealth in the black community relies on our black business owners and nonprofit owners working together in an ecosystem by accepting a common currency: the SAC1 token. Accepting the SAC1 is as simple as going to our website and putting in your information. When you decide to accept the SAC1 token in your place of business or non profit, you are not only building wealth for your business but you are also building wealth for the worldwide black community.

Businesses need every edge to create success and stay successful. A digital utility token like SAC1 could be that edge to take your business over the top. By integrating our SAC1 payment processing toolkit into your point of sale process, it removes removes the “middle-man” charges normally incurred while using standard merchant services. Also, you can rest assured that a portion of every fee paid by your customers in SAC1 will go towards the benefit of your community!

Who Accepts SAC1?2021-03-24T21:52:10+00:00

The objective of SableAssent is to create a global community that builds wealth by use of the SAC1 Token. The SAC1 token was created to establish wealth in the global black community. There are currently 1.5 billion black people in the world who annually spend over a trillion dollars. Currently, a small percentage of that the trillion dollars stays in the black economy. Our mission is to create an ecosystem that circulates funds, builds generational wealth, and supports global black communities with an infrastructure by using the SAC1 Token.

Please visit this link to see an updated map of use case operations for the SAC Ecosystem.

What is SAC1?2021-02-25T01:55:50+00:00

SAC1 is a public Ethereum based token designed for Black businesses, non-profit organizations, and consumers to exchange goods and services.

As the news continues to buzz around this technology, you may have already heard about Bitcoin, one of many different types of cryptocurrency. Cryptocurrency is a digital tool that enables regular people to exchange value through internet transactions rapidly. SAC1 transactions are performed in a mobile wallet called the SAC Wallet.

The value of the SAC1 is based on the transaction volume and frequency of its users. We will have SAC1 available on many exchange markets for all users to trade openly. Once utilized by both parties, SAC1 can be used to purchase anything that a standard currency can buy in a peer-to-peer way from anywhere in the world in a matter of minutes.

SABLEASSENT will distribute its token in a five-tier process, with 1 billion tokens available as follows: • 10% on reserve for marketing corporate partnership and consumer marketing • 10% open to private investors, at the pee-launch phase • 30% at launch of token offering • 30% released at 1% per year over the next 20 years • 20% reserve for buy back and asset purchases.

Who is SableAssent ?2021-02-25T01:53:22+00:00

SABLEASSENT serves as a Global Transformative Ecosystem designed for Black businesses, non-profit organizations, and consumers to exchange goods and services using our public Ethereum Token, known as “SAC1”.

SABLEASSENT is the world’s first and only digital utility token dedicated to the growth of the global Black community. Owning these tokens will ensure access to the Global network and can be purchased, earned, traded and sold around the world. The SAC1 token is the key to uniting the Global Black community and ensuring prosperity for the black community for generations to come.

Our new digital token will provide an avenue to support communities that are being neglected by failed current government programs. We are SABLEASSENT, the world’s first global black business marketplace and community support system. Our tokens will be available to circulate amongst 1.5 billion Black people around the world, which is supported by $1.25 trillion dollars in Black spending annually. Presently, the Jewish dollar circulates within their community between 8 to 15 times, the Caucasian dollar circulates between 6 to 12 times, and the Hispanic dollar circulates between 3 to 6 times, but the African American dollar circulates six hours. With the SABLEASSENT token active wallet, we can embrace and support Black owned businesses globally. This provides residual resources to Black owned non-profits who are actively serving in their community.

We are a digital token platform that embraces and supports the economic systems of the Black community and its businesses including non-profit organizations.

The Assent team is our global staff that preforms customer engagement and marketing in exchange for SABLEASSENT tokens.

This new token will grant unprecedented access of capital to anyone who chooses to embrace it. The SABLEASSENT blockchain is a unique collaboration of Pan African business-to-business transactions. We stabilize our communities through reinvestment and employment. Our mobile wallet allows transparent transactions in a casual format, this improves the way we participate with each other in decentralized financial transactions.

Our primary target is the new cryptocurrency economy, and to have a “value” token in our Black community which generates confidence and trust. The sale of our token provides the necessary tool to build our currency and have a solid foundation to provide ongoing financial resources to our non- profit and unemployed Black workforce. In addition, SABLEASSENT will leverage our token for other valuable assets to ensure longevity for our token. Sale of tokens will benefit the national and global markets by employing thousands of ready, willing, and able Black people.

What have you gotten done, so far?2021-02-25T01:52:22+00:00

In the tech department alone, we’ve been moving forward building the SAC Wallet which is now available on both of the most popular mobile platforms:

Android Version

Apple Version

 

 

 

 

 

 

Our SAC1 token is currently available on three Global Exchanges:

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SAC2 is not yet available.

 

Hopefully, these answers have cleared up the confusion about SableAssent.

We consistently move forward because we do not waste time responding to every social media comment on every network. We actually have our own social media network where we provide further support at: https://community.sableassent.net

With that said, we remain vigilant because we stand on the shoulders of our ancestors with pride, dignity, and integrity. As the Honorable, Marcus Garvey, so eloquently orated in his famous “In A Whirlwind” speech, “Be Black, Buy Black, Think Black, and all else will take care of itself.”

 

Thanks for taking the time to get to know us.

We look forward to meeting everyone personally!

SableAssent Coin Corporation

Why does it take so long for someone from your team to respond to support requests?2021-02-25T01:46:02+00:00

Please forgive us for not responding to inquiries in the manner or time frame expected. Our CEO, Daryl Speaks, travels around the world making business partnerships with powerful people IN REAL LIFE, such as government officials of Ghana, Nigeria, Kenya, Liberia, Jamaica, Haiti. Mr. Speaks has even presented the SableAssent platform in the halls of the United Nations!

I do not believe in simply “Buying because, Black…” Why should I buy SAC1?2021-02-25T01:44:38+00:00

You are correct in thinking that “because Black” is not a business model. Still, when other cryptocurrency tokens presented by Europeans that have absolutely ZERO utility hit the market, THEY SUPPORT THEIR OWN, regardless! We do not require that you choose SAC1 because it’s established by Black people. We’ve done exceedingly more work than many of our counterparts on all fronts till this day with little to no funding whatsoever.

We understand why we don’t have the luxury of relying on the support of the very people we intend to empower with our platform. Our people, Black people, suffer from a kind of ‘PTSD’ that expresses itself in a deep self-hate and resistance to self-empowerment.  Since our corporate establishment in 2017, we’ve seen at least 5 non-utility ICOs hit the market and each one receive hundreds of millions of dollars in a matter of days for nothing more than simply writing a “Whitepaper” much more vague than our own.

What does “Sable Assent” mean?2021-02-25T01:33:43+00:00

Sable Assent literally means, “Black Agreement”, our CEO says it means “Black Empowerment”, because if we can all come together and agree on something, (not even everything) then we have a fighting chance of sovereignty in this corrupt world.

What are the 200M “Asset Holdings for Community Improvements across the world” for? What are some examples for what these funds will be deployed?2021-02-25T01:32:20+00:00

A great example we are currently working on is https://thelakecharlesproject.com/

Daryl Speaks has personally been on site for our communities in the Louisiana hurricane threatened regions who have still not been able to rebuild and restore from the onslaught of natural disasters in recent years.

Why so many tokens?2021-02-25T01:31:09+00:00

It may seem like a lot but Sable Coin has a 18 digit decimal. Also, we serve the Black community of which happens to exist in every corner of the world. We intend to have staff and ambassadors in every country served, therefore our accounting department calculates prudency in the reserve of 200 million SAC1 for future staff and ambassadors as needed. This amount is held in cold storage by our custodians until we expand.

If 200M of the coins are in lockup to be “mined” .05% a year, why is 100M coins going directly to SableAssent staff?2024-04-10T16:18:47+00:00

The confusion may stem from the technical configuration of SAC as it is actually two separate tokens, SAC1 and SAC2. SAC1 is public and SAC2 is private. Below are the ‘Tokenomics’ that were laid out by our CEO, Mr. Daryl Speaks, in 2018 for SAC. You can verify the current holders of the token here: http://richlist.thesablecoin.com/

We have two custodians to hold token safe. We have made the appropriate changes to the smart contract at the bottom to address the following:

600 million market cap:

200 million Mined over 400 years on private nodes

——————————————————————-

  • 100 million – Early endorsements, Early token holders. (Pre-minted) 
  • 100 million – The Black Business Loan and partnership program. (Pre-minted)
  • 200 million – 400- Year Supply assigned system in our private network .05% per year. The SAC1 Sable Coin has a 18 digit decimal in-order to have an unlimited supply to fight inflation. Also for consumer purchase, as a medium of exchange.
  • 100 million – Corporate Officers (Pre-minted)
  • 100 million – Asset Holdings for Community, Commodities and Improvements across the world (Pre-minted)

—————————————————————

PRESENT SAC1 SMART CONTRACT:

Token Contract: 0xeDd666802003D178C416b4e5DD6A82F76C2C7554 on https://polygonscan.com/

What are the nonprofits you have onboard to which you claim SA will donate “2% of corporate profits” to? Or are even aiming for?2021-02-25T01:14:12+00:00

Due to the sensitive nature of our user information, we do not share any listings of participators. This is to ensure the safety and integrity of our communities. The value of our many religious organizations, child education institutions, and disaster relief initiatives should not be associated with the volatile nature of the cryptocurrency market through us. We maintain a private aggregate dashboard to educate the community, but we will never collect keys, addresses, transactions, balances, hashes, or any personal information of our users.

How will “corporate profits” be defined? Why not 2% gross instead, to ensure these funds reach the intended communities?2021-02-25T01:16:02+00:00

For the sake of simplicity we do use the term “corporate profits” in our corporate white paper, however you will find in our accompanying Technical Specification Whitepaper, that there is a distinction between shares of the company and shares of the token transaction fees. Officially, “corporate profits” refers to figures listed on income statements and balance sheets of the SableAssent Coin Corporation for profits made from the manufacturing and distribution of our physical master node servers. These master nodes are only available to business and government entities who have gone through a rigorous verification process with us in order to firmly establish our private consortium network. For more information on how our Private Node Network will work, please review the technical specification documentation provided.

For a whitepaper, there’s barely any mention of the actual technology. What’s the blockchain upon which this coin is based?2021-02-25T01:17:51+00:00

SAC1 is an Ethereum based token made under the ERC-20 token specification. As previously mentioned, much like many of our counterparts in the ‘Distributed Ledger Tech’ industry, we actually have two white papers available. The document you refer to is our Corporate Whitepaper, the information you request is readily available in our Technical Whitepaper.

Please visit our site here https://sableassent.net/whitepaper/ to review them both at your leisure.

How many of the 100M pre-launch coins were sold?2021-02-25T01:19:08+00:00

Currently our total circulating supply of SAC1 is 299,159 SAC1 tokens. You can verify this information in real time using this link: http://totalsupply.thesablecoin.com/

Did SA launch in April 2020, as per the whitepaper? If not, why?2021-02-25T01:21:09+00:00

No, SableAssent Coin Corporation was established on October 17th, 2017. The SAC1 token, however, was in fact launched on the Ethereum Main-net in April of 2020. There is a distinction between the company and the token.

With the current SEC crackdowns on ICOs and pre-mined coins as securities, what assurances or information can you give potential investors that SA isn’t a security or subject to SEC security punishment?2021-02-25T01:25:40+00:00

We have no worries about the SEC crackdowns on ICOs because our token is uniquely positioned in the market as it serves a specifically underserved demographic. The SAC1 token is a utility and not a security. Everything we do is completely legal and we’ve gone through the appropriate regulatory steps to ensure the highest level of integrity for our people. Had you been able to actually purchase the token at our original Token Generation Event, you would have been provided with an official SAFT Agreement. This is a legal form detailing the measures we’ve taken to secure your token.

In Section 3, the SAC SAFT Agreement explains the purpose and use of the token:

“…Company is developing and deploying a decentralized global network that runs on the Ethereum platform that will connect black owned for profit and not for profit businesses with consumers world-wide. SAC is a decentralized ERC20 utility token that Company is selling in the TGE that will allow access to the premium services, features, and functionality of the SABLEASSENT Global Black Network.”

 

In Section 6(b) of our SAC SAFT Agreement it states:

“…The Purchaser has been advised that the Token described in this instrument is not a security as determined by the regulatory authorities of the United States under the Howey Test and that the offer and sale of this instrument have not been registered under any country’s securities laws and, therefore, cannot be resold except in compliance with the applicable country’s laws. Accordingly, no United Stated or other financial regulatory authority has passed upon the contents of these Terms or the merits of purchasing SAC, nor have these Terms been filed with, or reviewed by, any United States or other financial regulatory authority;”

 

We maintain the privacy of our Global Network of users, therefore this information would not have been made available to anyone without properly going through KYC procedures.

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