In order to provide users with better trading experience and a richer set of investment options, OceanEx started to list New projects. With the listing of CRO on the platform, OceanEx launched some special events to celebrate.
To help OceanEx community know more about the Crypto.com project, they hosted a live AMA with Eric Anziani, CSO of Crypto.com CRO within OceanEx telegram.
Below you will find a summary of the first OceanTalk with Starry Lui, Head of marketing, as host.
Starry Lui ( OceanEx Head of Marketing ):
Hello everyone!
Welcome to today’s OceanTalk — AMA session with Crypto.com!
It’s our honor to invite Eric Anziani , Chief Strategy Officer at Crypto.com to join us
Hi Eric!
Eric Anziani ( CSO Crypto.com ):
Good evening Starry and hi everyone!
Thanks for having me and for OceanEx for organizing this AMA.
Starry Lui ( OceanEx Head of Marketing ):
After a brief introduction about Crypto.com and CRO, I will ask several questions, and then there will be a fun YES OR NO session where I will give you five information about CRO, which can be all found out in our later conversation, and top 5 who respond to the questions correctly will get 200 CRO rewards! We will give you 15 minutes for free Q&A session, feel free to ask us anything about the project!
meanwhile, all community members welcome to submit your question during the AMA via: https://forms.gle/ky4MQtKm2pSZQTtB8
Google Docs
Pre-collection for Q&A section in CRO AMA campaign
Hey Eric, would you like to briefly introduce Crypto.com and CRO project?
Eric Anziani ( CSO Crypto.com ):
I’m looking forward to sharing more about Crypto.com and our Chain product (powered by the CRO token) with you and the audience.
First of all, I would like to say thank you to the Crypto.com community for your continued support and engagement!
Crypto.com was founded in 2016 with the aim to accelerate the world’s transition to cryptocurrency.
Blockchain technology (and its main application cryptocurrency) is a tremendous technological achievement that enables decentralized movement of value over the internet.
At Crypto.com, we strongly believe that supporting blockchain technology will help build a better society for everyone, and we are trying to help the world move in this direction by making cryptocurrency more accessible and spend-able to everyone through our products and services.
We have focused our efforts in solving these 2 major customer pain points/ needs:
1/ Access to cryptocurrency
We addressed this with the Crypto.com Wallet, the best place to buy, sell, send and track cryptocurrencies;
2/ Spend-ability of cryptocurrency
We addressed this with a) the MCO Visa card, a metal card with no annual fees and up to 5% cashback; and b) the Crypto.com Chain, which enables users to pay and be paid in any crypto, anywhere, for free using their mobile phone. The Crypto.com Chain is a native blockchain solution, which enables QR code payment between crypto users and merchants, in a seamless, secure and privacy-protected way.
Starry Lui ( OceanEx Head of Marketing ):
Awesome, thanks for the comprehensive introduction. We look forward to further collaboration with Crypto.com
We have prepared some general questions to you, to help community better understand the project
the first one:
Crypto.com has launched a series of products and services that seem to be the substitutes of the current banking system, such as wallet, card, invest, credit, as well as recently launched projects like Crypto Earn and Crypto Credit. Can you explain how these products work and how they can resolve the problems of current banks?
Eric Anziani ( CSO Crypto.com ):
Thanks, let’s go through those questions!
On top of our core products providing access and spend-ability of cryptocurrency, we have developed a suite of powerful financial products on our Crypto.com wallet app platform to bring more value to our customers.
Our products are easy to use, highly flexible and provide outstanding value to our customers.
Let’s start with Crypto Earn
Crypto Earn enables our customers to grow their crypto and gives them up to 8% p.a. earning on their BTC, ETH, XRP, LTC, TUSD and PAXOS token holdings. We offer the most attractive interest rates for such a product in the market today. Customers can choose between a flexible plan or fixed (1-month or 3-month) plan. Earnings accrue daily and are distributed weekly.
Let’s cover Crypto Credit now
Crypto Credit gives our customers spending power by enabling them to instantly get a loan by depositing crypto (Bitcoin for now, but we are looking to increase the tokens which can be deposited) as collateral. Unlike traditional financial institutions, Crypto.com does not impose a fixed repayment schedule, monthly fees, late fees, or payment deadlines
users can enjoy the flexibility to repay any amount, at any time, in the 12 months upon the start of their credit term. No credit checks are required. Funds received can then be spent on the MCO Visa Card (with cashback of up to 5%) or used within the App to purchase more crypto.
Users who have MCO tokens staked in the Crypto.com App receive a preferential rate both for Earn and Credit.
Starry Lui ( OceanEx Head of Marketing ):
already excited when learning about above products’ features
so Eric, do you think CRO can eventually replace Visa or create a more powerful system than Visa that we use today?
Eric Anziani ( CSO Crypto.com ):
The Crypto.com Chain is a mobile payment network built to enable native cryptocurrency payments between merchants and consumers.
Existing fiat payment institutions face key challenges in relation to cryptocurrency
1) on-chain and off-chain settlement in a timely and cost-effective manner
2) volatility of those assets, especially in between settlements
3) safe custody of those digital assets
The Crypto.com Chain is addressing those challenges head-on and creating a new crypto payment ecosystem for the whole industry, including traditional fiat institutions (e.g., card networks, payment gateways, banks)
We are extending an open-invitation to any party who would like to easily add cryptocurrency as an accepted form of payment in a secure, compliant and cost-effective manner.
Let’s build a better crypto ecosystem together!
Starry Lui ( OceanEx Head of Marketing ):
I just noticed that Kris Marszalek (CEO) claimed recently that Crypto.com would launch in the US soon, and Europe would follow shortly after.
Why did you choose these two areas as your target market in the next stage?
And you know Europe and North America are exactly the core markets that OceanEx has already obtained solid customer base, is this the reason why you chose to work with us?
Eric Anziani ( CSO Crypto.com ):
Thanks for asking this question
The changing retail landscape is a boom for payments companies since online shoppers are much more likely than in-store spenders to pay by card.
Especially in the US and Europe
We have a product that is very competitive even against major banks.
The MCO Visa Card is a prepaid card that features high-end metal cards with no annual or monthly fees, airport lounge access for select cards, no-fee ATM withdrawals, tap-and-pay functionality, and no FX fees
The global rollout including the US and Europe is a big part of our strategy to scale our platform.
I can tell you we are weeks away to ship the cards in the US. The team is working hard to make it happen for our community
We are thankful for the support of OceanEX.
The market demand for the MCO Visa Card in both Europe and North America has been overwhelming and we look forward to bringing it to customers as soon as possible. This is another important step towards our mission of accelerating the world’s acceptance of cryptocurrency.
Starry Lui ( OceanEx Head of Marketing ):
cant wait to work together to promote the acceptance of cryptocurrency!
Speaking of CRO, we have witnessed an unprecedented surge a couple of days ago, and it rocketed to top 30 with a 170% appreciation two months earlier. How did you complete this incredible achievement?
Eric Anziani ( CSO Crypto.com ):
Building a global payment network is a multi-year effort. Our team is relentlessly focused on delivery, day-in day-out.
We were happy to see the market positively reacting to our progress, especially as we were able to deliver faster than initially planned.
Let’s talk deliverable and value prop for a few seconds
For the past few months we have been focusing on a solution for online merchants to accept crypto: “Crypto.com Pay” button, integrated via our SDK with a few lines of code.
Earlier this year, we went live with our first online merchant, published our API documentation and are in the process of onboarding hundreds of exciting new merchants including the leading hardware wallet security firm Ledger.
Merchants using Crypto.com Pay will not need to pay any fees (saving 2–3% vs. traditional payment processors) and will be able to offer substantial discounts to their customers. We allow merchants to receive funds in crypto or in fiat (thanks to our Settlement Agents who remove completely the volatility risk for merchants).
Earlier this month, we also unveiled the first part of our offline merchant strategy, with native and instant crypto payment at a very well-known coffee chain. I encourage our audience to check it out: https://www.youtube.com/watch?v=vvl_OhL0Ez8
Crypto.com, the pioneering payments and cryptocurrency platform, showcased today its ability to enable instant cryptocurrency payments on existing merchant p…
On the technology front, Crypto.com Chain has already open-source its prototype testnet, processed its first transaction through a newly developed desktop wallet and received a Commercial License for the Use of Intel:registered: SGX to achieve a high performance, secure and privacy-protected network. Security is very important to us.
Starry Lui ( OceanEx Head of Marketing ):
Compared with traditional payment system, cryptocurrency sphere has been encountered with the low speed and extremely high entry barrier. How does Crypto.com solve these problems?
Eric Anziani ( CSO Crypto.com ):
We designed the Crypto.com Chain to specifically address those issues
For payment speed in particular, latency is a key metric, i.e. how long does it take to confirm a transaction. Thanks to our BFT consensus algorithm and our TEE infrastructure, we are able to provide final confirmation in a few seconds while maintaining privacy and security.
For the payment experience to be accessible, it is important that the interface be very easy to use for customers and the payment process seamless. Our customers can enjoy a smooth experience using our beautifully designed Crypto.com Wallet App and can look forward to great incentives (up to 20%) in CRO for their transactions.
Starry Lui ( OceanEx Head of Marketing ):
What do you think about the topic around security?
Eric Anziani ( CSO Crypto.com ):
We believe that security is a critical aspect in the path to mainstream adoption, it is the foundation layer in cryptocurrency.
Security issues can be caused by both internal (bad actors, erroneous usage) and external threats. Each company needs to define a comprehensive approach to protect its assets against all potential threat vectors.
At Crypto.com, we take compliance and security with utmost importance.
Crypto.com is one of the first cryptocurrency companies to achieve ISO/IEC 27001:2013 Certification, the “Gold Standard” certification for information security management. The certification demonstrates that cybersecurity and privacy are embedded into Crypto.com’s DNA.
We also recently announced our collaboration with Ledger, a global leader in security and infrastructure solutions for cryptocurrencies and blockchain applications, for its institutional-grade custody solution.
By utilizing Ledger Vault, 100% of Crypto.com client funds always held in cold storage with HSM and multi-signature protection. Ledger Vault allows us to operate the business at scale while maintaining the highest standards of security.
Starry Lui ( OceanEx Head of Marketing ):
Thanks for your answer, you gave us a comprehensive overview of Crypto.com and valuable insights.
Starry Lui ( OceanEx Head of Marketing):
now, let’s start with the QA session
we have pre-collected a few questions from community before
the First one is: How CRO platform will be different from other crypto currencies and what it has to offer to its clients what its competitors are not doing.
Eric Anziani ( CSO Crypto.com ):
The key differentiator for the Crypto.com Chain is its clear go-to-market strategy, which will result in rapid adoption.
There are 4 disruptive forces that underpin our strategy:
> great offers for customers to financially incentivise usage of crypto;
> no transaction fees for merchants;
> seamless user experience;
> decentralized protocol to process the transactions.
On the technical front, our blockchain team has developed innovative technology to provide low latency, secure and privacy-protected solution catered for mobile payment.
In particular, we are leveraging Trusted Execution Environment (TEE) thanks to our commercial license for the use of Intel:registered: SGX.
I invite the audience to:
> read our technical whitepaper (https://www.crypto.com/images/chain_technical_whitepaper.pdf);
[chain_technical_whitepaper.pdf] 923 KB
> follow our regular Dev updates on the Crypto.com blog (latest one: https://blog.crypto.com/crypto-com-chain-dev-update-3/),
Crypto.com | Official Blog
Crypto.com Chain Dev Update #3
For the Crypto.com Chain Development Update #3, we have a packed agenda and exciting new features. See below key topics addressed: Initial client back…
> join us on our technical Gitter channel
> follow our progress on github: https://github.com/crypto-com/chain
GitHub
Pre-alpha version prototype of Crypto.com Chain⛓. Contribute to crypto-com/chain development by creating an account on GitHub.
Starry Lui ( OceanEx Head of Marketing ):
Second one from a community member says:
Hi Eric! Thanks for taking the time to do this. The community appreciates it!
What I was wondering is, in the recent video of Crypto.com Pay’s Starbucks Demo, on the display a few of us noticed Target and AMC Theaters. Are those just examples of other retailers? Or is there any truth to a partnership?
Eric Anziani ( CSO Crypto.com ):
The Crypto.com Pay Retail demo is to showcase the ability to enable instant cryptocurrency payments on existing merchant payment rails.
No merchant integration is required to use Crypto.com Pay at the store, we are using existing merchant payment rails. Therefore, no partnership is required between retailers and Crypto.com.
Stay tuned for more information on this!
Starry Lui ( OceanEx Head of Marketing ):
3）Will all coins/tokens on Crypto.com be available to use with crypto.Com pay?
Eric Anziani ( CSO Crypto.com ):
We plan to accept hundreds of cryptocurrencies with Crypto.com Pay
Customers paying with the CRO Token will receive up to 20% instant cashback.
Starry Lui ( OceanEx Head of Marketing ):
4）Any future plan for CRO staking?
Eric Anziani ( CSO Crypto.com ):
CRO Staking is already available!
Users can stake CRO which accrues earnings at a very attractive 12% p.a., this beats any traditional savings product out on the market.
On top of earnings, you will have governance power if you stake 500,000 CRO or more.
Users can participate through one of the following methods:
Via Crypto.com Wallet App: To own a Council Node and begin earnings accrual, all it takes is a few taps. Go into your CRO wallet, look for the Council Node Rewards section and click Learn more. You can stake from 10,000 CRO and start earning staking rewards!
Via Allnodes: We have partnered with Allnodes, the leading non-custodial, masternode hosting service. Allnodes allow staking of full Council Node seat at 500k CRO each. You will receive node rewards directly to your wallet address.
Starry Lui ( OceanEx Head of Marketing):
Last one precollected question, we will close the question submission form after this question.
5）What is the utility for CRO?
Eric Anziani ( CSO Crypto.com ):
The CRO Token is the native Crypto.com Chain token that enables seamless, cost-efficient and secure settlement between customers and merchants.
Each node on the network needs to stake a minimum amount of CRO Tokens in order to contribute to the network.
CRO is also used to reward validator nodes (a.k.a., Council Nodes) on the network.
On top of that, customers who chooses to pay with CRO transact with minimal fees and can receive up to 20% cashback.!
Starry Lui ( OceanEx Head of Marketing ):
Eric will pick up 5 questions from the question list we collect today during the AMA session
the first one is — Why Crypto.com chose OceanEx Exchange ?
Eric Anziani ( CSO Crypto.com ):
OceanEx is a great partner!
We appreciate their approach to compliance and due diligence process
we like the fact that they leverage AI technology to secure their platform
and they have a unique core trading pairing with VET, we really like the Vechain team and what they are doing in the space :muscle:
Starry Lui ( OceanEx Head of Marketing ):
Thank you for recognition! We believe together we can provide community with a diverse payment and trading experience
the second question:
May I know details for staking of MCO Tokens?
Eric Anziani ( CSO Crypto.com ):
You can get access to our beautifully designed MCO Visa card by staking MCO tokens for 6 months
5% cashback, Free Spotify, Free Netflix, No Fx fees, Global airport lounge access can be yours with MCO staking
You also get discounts on Crypto Invest fees, lower APR on our Crypto Credit product and higher interest rate on our Crypto Earn product (8% p.a. :heart:) .
Starry Lui ( OceanEx Head of Marketing ):
3) What does quant trading in your wallet mean?
Eric Anziani ( CSO Crypto.com ):
Several months ago, we launched a revolutionary product: Crypto Invest — giving customer access to automated crypto trading strategies with $20 USD minimum.
If you don’t know which crypto to buy, you can deposit funds in Crypto Invest, select a risk profile and let the engine run a personalized diversification strategy for you.
Crypto invest has now more than 6 months of existence and we will publishing its historical performance publicly very soon.
Kudos to our trading team for delivering such an incredible product!
Starry Lui ( OceanEx Head of Marketing ):
4) What makes Crypto unique and different from the other competitors out there?
Eric Anziani ( CSO Crypto.com ):
Crypto.com is the Super App of crypto!
No one offers the ability for a customer to do all of the below in one app:
buy crypto at true cost with fiat (bank transfer, credit/debit card), exchange between crypto with no spread, send crypto to your friends instantly and for free, track 200+ crypto, spend it with a metal card at 40m merchants or with a mobile phone QR code payment solution, invest in a diversified portfolio, earn fixed interests on your crypto, get instant loan by giving crypto as collateral, and more to come!
Starry Lui ( OceanEx Head of Marketing ):
nice!
the last one question for today-
5) Where do you see CRO 5 years from now?
Eric Anziani ( CSO Crypto.com ):
Crypto.com Chain and CRO token is a long term play. We are here for good
Let’s look at a 10y horizon
> Our goal is 10m merchants in 10 years. Any crypto, anywhere, for free — a powerful value proposition that will help drive the size of our market.
> With focus on crypto payments, we can dramatically increase the size of crypto user base. Our target for Crypto.com Chain is 100m users in 10 years.
Starry Lui ( OceanEx Head of Marketing ):
Thank you Eric! Much appreciation for your insightful responses and sharing
That’s all of our #OceanTalk #AMA session with #CRO today
Thanks for all the questions and your participation!
And congratulations to the CRO winners, We will post a winner list later, please stay tuned.
Eric Anziani ( CSO Crypto.com ):
Thanks a lot for having me.
Thanks for the #OceanEx $OCE and #Crypto.com $CRO Community for their support!
This was the second OceanTalk session. Starry thanks Eric for joining our OceanTalk and sharing all these insights. Eric states looking forward to work with OceanEx. Also a big thanks to all community and for submitting so much valuable questions!
Its is highly appreciated and the community voice matters to both! OceanEx is running a couple of events because of Crypto.com CRO listing.
Join OceanEx with
https://oceanex.pro/en/signup?referral=5WNJY7
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