Once again we are excited to share with you the answers to the questions our community has asked during the last session! It took place last Friday, and we covered a lot of topics, which is why we have decided to split the post into two! So, the first part of the AMA with ESPCoin CEO, Eric Loit is here!
Q: Can you briefly describe what ESP COIN is?
A: ESP COIN is a utility Token that is a component of a much larger vision to be the mechanism for value transfer in vertically oriented ecosystems. These ecosystems will begin in the Educational, Renewable Energy and Financial Payment sectors. Using the decentralized nature of crypto, this lends itself to a wide variety of new and interesting business models and applications.
Q: What are your main features that distinguish you from other projects and what competitive advantages do you have?
A: I believe one of the key differences between our project and many others is that we actually have a full-fledged business model and ecosystem behind the token. We are keenly sensitive to cost, especially in the education space, we are also very sensitive to the public and their usage of the Token. We believe that every token that is purchased by the public is an illustration of trust in our project and we take that very seriously. So we have taken long steps to make sure that we protect that trust we put mechanisms in place to make sure that we do it as transparently as possible in order to continue to earn that trust
The businesses as they operate will be investing back into the coin base to the benefit of the entire public. With a real operational business model we can realize this benefit immediately
Q: How has the experience and background of your team been effective in the success of your project so far?
A: With the many years of experience we have personally brought many products to market in the past with success. Our team has been able to put together quite quickly this entire project for the token. As you all know we are pretty new but we have accomplished a lot already. The business model is really our primary focus which is going to provide the value back to the coin base and ultimately the public who purchase the token.
We have built in some innovative features into the smart contract that makes us unique and I think more attractive. We don’t wanna be putting a large cost for transactions because we are concerned about things like gas fees and so forth. Every decision that we make in terms of the economics of the token takes into account how it affects the public.
Q: Are you working on any partnerships or marketing initiatives to help build awareness for your platform?
A: This is an absolute must. We do have a marketing team engaged that has begun the process. I have spent the last three years developing the business demand for the educational platform in countries like Vietnam, United Arab Emirates, India. In that time we’ve been able to produce very significant interest that we are looking for with the help of E$P to bring scale and execution.
We cannot work in a vacuum. Strategic partnerships are the mainstay of success. We will be looking at various partnerships both in the business ecosystems as well as the financial side of the token. In fact we do have some advisers from the public market to help advise us for next steps.
Q: Could you please provide some progress on your Roadmap and what results ESP COIN has achieved so far?
A: We have already hit some significant milestones for the Token itself. We have already completed our security audit of the Token Contract. The Token has now been minted and we are preparing to put on chain the Seed purchasers smart contracts for all to see. The website is up, and all the references to the audit, our code as well as the white paper are all there. This project for the Token started only 8 weeks ago once the strategic vision was decided on from the higher level business model. In the coming few days, we will have 1% of the total supply of the tokens available on the website while we continue the marketing and listing arrangements with exchanges. I really believe a lot has been accomplished to date!
Expect the second part of the AMA recap tomorrow! If you have questions — don’t hesitate to ask them, we are always happy to respond!
