Q&A with the CEO Week 2
Our first “Q&A with the CEO” program last week has received great support from the community. This week, along with interesting questions sent to EZPOS, our CTO, Duong Doan will join the Q&A to answer questions from investors.
1. In your Q1 Picture it says you have more then thousand new merchants acquired? Is that true? Are they using Eztoken system or Ezpos system without Eztoken? (dan***ner@outlook.de)
CEO: In Q1, we have 1,600 new more merchants using our POS system. EZToken Loyalty Program isn’t launching yet.
2. How do you cope with the problem that crypto is not a legal mean of payment in Vietnam, where you supposedly have the vast majority of stores already employing ezpos? (dan***ner@outlook.de)
CEO: Any currency other than VND (including USD) is not permitted as payment currency in Vietnam. Cryptocurrency stands no chance to be a payment method in Vietnam in near future and we don’t have that goal in our business plan (Please check the white paper carefully if there is any misunderstanding about this). But EZToken can be used as a loyalty reward program in Vietnam, that will activate Marketing service using EZToken. EZToken can be payment method in Australia, we are working on this.
3. What do you think about competitors in other geographic regions like for example Bitrewards and their TUI&GoPro partnership. Do you think that is comparable to the partnership with Philip Shelper & Adam Posner? (dan***ner@outlook.de)
CEO: We are going to be a global loyalty platform. We are developing a platform that can enable EZT to be exchanged to other loyalty tokens, vice versa. Once our Loyalty Platform goes live successfully we will have a business development strategy to partner with any open-minded loyalty token in the world.
Phillip and Adam are the Two Best Loyalty Specialists you can find in the world, especially Australia. We respect their skills, knowledge and professional working attitudes. They are working with us to design a business development plan to adopt EZToken Loyalty and Reward successfully in life first. We treasure this partnership with them and will continue to seek their contributions till the life long of our EZToken.
4. Can EZPOS implement a lightning network and a proof of Stake ERC20 Ethereum-like blockchain? When are they implemented？In the White Paper, “we will implement a hybrid architecture including a lightning network and a proof of Stake ERC 20 Ethereum-like blockchain.” (yhe***574@yahoo.co.jp)
CTO: We are working to create the lighting network. It is vital for the Loyalty system that the EZT’s transaction speed is fast and transaction fee is minimized. For the Proof of Stake blockchain, we have not planned to create at the moment.
5. If Ethereum become more expensive, do the EZT tranzaction fees become more expensive?Low tranzaction fees are very important. For example, transaction fees are 0.01 EZT when I get 0.001 EZT. In this case, transaction fees are too expensive to use EZT as Loyalty points. (yhe***574@yahoo.co.jp)
CTO: Yes, it is correct that if Ethereum become more expensive, the EZT transaction fee would be more expensive. We have knowledge of this situation and are working on a solution so that the transaction fee is very low or free inside our Loyalty system.
6. Why EZT price are getting lower and lower, while the others are going up? (han***684@gmail.com)
CEO: After finishing ICO and before adopting into real life, all conventional coins/tokens do not have any practical application, during which, the price oscillation depends on investors’ emotions and the whole crypto’s market. At the moment what we are trying to do is to shorten this period by developing good products in order to show the benefits of EZToken in real life. Keep in mind, even then, the price is still driven by market supply and demand. Even Vitalik hardly influences ETH price right now.
7. Why does EZT not list on any new exchange, while there are plenty of free listing exchanges that need voting only? (phu***780@gmail.com)
CEO: Following our strategy, the implementation of EZToken in real life is our prerequisite, and the exchange listing plan would be more beneficial when EZToken has real life practical applications. Please see the answer of question №4 for further understanding of what we are trying to do.
New exchange will be announced shortly. We are very selective with exchanges to enhance the easy access for our merchants, end users as well as our investors.
8. When will EZT be listed on some big exchanges such as BINANCE. The first two exchanges are too bad. (ngu***o92@gmail.com)
CEO: The current voting expenses and resources for EZToken to be listed on exchanges like BINANCE , Huobipro…are not appropriate at this time. First, EZToken marketcap is really small and the fund we raised is not huge, hence we should spend it on developing product rather than having EZToken listed on big exchanges. Second, we have been to Huobi office in Singapore and discussed with Huobi Pro and got back some advice: Tokens with market cap below 100 million dollars shouldn’t rush to be listed on Binance, Huobi, as it would be a waste of voting expenses, marketing, airdrop costs and price stabilization fund (to prevent big investors from creating downtrend and manipulation).
We have built relationships and applied with big exchanges like Huobi Pro, Okex, Bitfinex. We need to follow the rules to get listed by these exchanges. Recent changes in regulations have made many exchanges to reform and select coins/tokens very strictly.
Please stay calm and wait for the Big Exchanges’ news!
We would like to express our deep gratitude to investors for their interests in EZToken project. Any question or concern about the project will be answered directly by the CEO. For “Q&A with CEO Week 3”, we continue to receive questions from investors via eztoken@ezpos.io
Questions will be selected and answered by CEO every Wednesday. For more high-quality interactions between investors and EZToken project, we are looking forward to receiving questions and inquiries from investors.
Read “Q&A with CEO Week 1”: https://bit.ly/2FxvbLX
Join the discussion at: https://t.me/eztokensupport
