Q&A with CEO — 9/8/2018 ~ 15/8/2018
In our newest edition of Q&A with the CEO, it’s clear that investors are interested in plans for Q4. We received double the amount of questions compared to last week and have answered them all for you below:
We appreciate your participation in this important initiative.
Question 1:
Currently, EZToken is traded on only 3 exchanges: the Internal Exchange, Qryptos, and Cryptopia. All are small exchanges with very little liquidity. Has there been any discussion about trying to get listed on a larger and higher quality exchange to generate more interest and more liquidity for the token? (meh***012@gmail.com).
Answer:
The product is on track to reach its target of getting products to a level of MVP (Minimum Viable Product). This matter is our first priority to ensure future growth and expansion of EZToken. Getting products to a level of MVP and expanding EZToken Rewards program will make EZToken more attractive when we list on new exchanges which will improve liquidity.
Question 2:
Given that the price has dropped so far from the ICO price, has there been any discussions of a strategic buyback of tokens, both to show the company’s confidence in the product and to help generate price stability and value to investors? (meh***012@gmail.com).
Answer:
The regulation fund has been fully used to buy back tokens as we have complete confidence in the program. Now, just like investors, we are affected by the market trend and the EZToken price is ultimately controlled by the market. Our focus and attention needs to be on the product and the EZToken Rewards ecosystem which will create true price stability.
Question 3:
You mentioned having about 50 merchant partners right now for the EZToken system. How many merchants use the EZPos System, and is the token rewards system built into that? Will all those merchants be able to easily join when you feel the product is ready and do you have an estimated timeline of when that will be? (meh***012@gmail.com).
Answer:
Our key project goal is still to launch EZToken in Vietnam where we have over 10k paying merchants on our EZPOS system over which EZToken Rewards system can layer easily. A lot of work needs to be done behind the scenes prior to expansion in order to set ourselves up for success . The rest of this quarter will be spent on validating a solid MVP before expansion. We will release key dates and timelines for this expansion at the end of this quarter.
Question 4:
What is the status for publishing the EZTrade exchange in Australia? I have heard that there were some good news that related to the lawyers. Can you tell us more detail about that? Thanks (luu***ung@gmail.com).
Answer:
The good news from Lawyers is that allowing EZToken to be transferred from the EZToken Rewards program to the internal exchange (and vice versa) complies with Australian laws and regulations. Once this is activated, it will bring more flexibility to members who will be able to trade on the exchange. It also allows investors/members to be able to transfer cryptocurrencies into the EZToken Rewards program, and redeem for a saving at participating EZToken Rewards retailers, mainstreaming the ability to spend cryptocurrency. Cryptocurrency is still very new, so every aspect of this function needs to be 100% compliant with law and local government. We need to have a dedicated team to work on this carefully which takes up time and resources, but it’s important to be thorough.
Question 5:
As you said, we will deploy EZPoint in Vietnam this quarter, It means you will prepare everything until end of Sep 2018 or we will run the program in this quarter (August->Sep). Is there any link between EZToken and EZPoint? How can the merchant buy the EZPoint? (luu***ung@gmail.com).
Answer:
We are trying to release a version of the EZToken Rewards program which works with EZPoint by the end of this quarter. The idea behind this is that it will be possible to convert EZPoint to EZToken and vice versa.
Question 6:
I remember that we had the quarter report for quarter 1/2018? Why didn’t you publish the new report as well as new road map (at least tempo plan) in the next quarter? I think that this will make the investor feel confident/believe in the project’s success (luu***ung@gmail.com).
Answer:
There was always going to be a stagnant period whilst we figure out what the consumers and the market need in order to create genuine demand for our utility token. We are refining our direction to get more and more merchants and members active. All of this information goes into developing our MVP which will make the future vision more clear.
Question 7:
Do we have any plan to re-activate the price protection this year? I know you already explained about that (I know it’s impossible to do that in this market), but this was your promise, so at least you should think about the compensation or something like that (luu***ung@gmail.com).
Answer:
We have used the whole regulation fund to buy back EZToken. The promise is limited now that the fund has been depleted. We need to focus our resources on the product and the ecosystem.
Question 8:
What do you think about creating some AMA sessions or events to meet your investors in Vietnam? (luu***ung@gmail.com).
Answer:
We have previously done this and did not get any effect. I am happy to meet investors outside official AMA if they have something to share.
Question 9:
Last but not least, let’s have a look on this coin https://loyalcoin.io/. In general, their product is worse than us and they don’t have any advantages like us (a lot of merchants in Vietnam). But they are now on top 150 and increasing price day by day. They started in Philippines for 2 months, have you heard about them? I think we should take a note about the competitors to know their strengths and weakness. Thanks (luu***ung@gmail.com).
Answer:
Loyalcoin.io was doing ICO at the same time as EZToken and we do keep up to date with their progress, as well as the progresses of other crytotokens. It is good to know everything that is going on in the market so we can learn and make EZToken the best.
If you want your questions answered next week, please send them through to our mailbox: eztoken@ezpos.io, for next Wednesday.
Thank you for participating in this important initiative to strengthen the relationship between the EZTeam and Investors.
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