Exscudo team answers the questions from community
Last Friday (Feb 15) Andrew Zimine, CEO of Exscudo, answered many questions from Exscudo community during the online conference in Slack. However, some questions he had no time to answer, and also we received many more already after the session already ended. Find these questions answered collectively by Exscudo team below.
1)Are debit cards emission available only for bank institutions?
Yes, only banks can emit the debit cards.
2)When payment terminals will be launched?
In Q2/Q3 2018.
3)Payment terminals are exscudo only or 3rd parties can customize?
For the moment what we plan is Exscudo only.
4)New expected dates for channels public beta
We plan to launch Channels public beta in the end of Q1 2018.
5)Is there a changelog that could eventually be made public here so the community could be aware of the project’s evolution?
Yes, we do have a changelog, but now it is for the internal use only. After beta testing of all of our products we plan to make it public. More particularly, some parts of the changelog will be available for public in Q2 2018.
6)Is it going to be more then one fiat if so how you prioritize them? E.g. EURO first GBP second etc?
As we already mentioned, the first fiat currency on Exscudo exchange will be Euro. Later on we plan to add another popular trading currencies, such as dollar, pound, yen, but so far we are focused on introducing Euro to our exchange. It is not an easy process, as we should adjust to all the regulatory requirements.
7)Lost private key recovery? Is there any way to recover EON by losing it?
Channels wallet will have the means and the verification of the reserve saving of the private key. So yes, it will be possible to recover the lost private key.
8)Will EON come to other exchanges?
EON will be first listed on Exscudo exchange. After that other exchange may list it as well, however, this is not our priority.
9)How do you see the liquidity and volumes aspect on exchange opening with only 2 coins at launch and no fiat ?
We are actually planning to have five currencies at launch (BTC, BCC, ETH, ETC,EON). This should help to solve the liquidity issue.
10)Will be projects running in our blockchain like crypto.tickets available on our exchange?
Yes, all the projects running on EON will be available on our exchange.
11)The problems that you want to solve your products are very relevant for many countries in the field of cryptocurrencies. Can you cooperate with states? Or only the economic sphere?
By now we focus on developing Exscudo within the frameworks of fintech industry, however, we do not exclude that our project can be interesting for another markets.
12)Any plan of an offchain?
No plans of offchain so far.
13)Any plan of using AI for cyber security?
At the moment of launch np, but later on we have such plans, primarily in the context of fraud-monitoring in all aspects, including withdrawal of funds and trading manipulations.
14)What makes Exscudo exchange to stand out from others and make it attractive to traders?
First of all, our deposit solution. Exscudo exchange is not involved in deposit storage, deposits are stored in users’ wallets based on EON blockchain. It plays a role of an escrow agent who signes the transaction and guarantees the swap. It does not guarantee the deposit safety as the deposit safety is guaranteed by EON blockchain. So, as a storage option, Exscudo deposit system has maximum safety, maximum convenience and maximum effectiveness.
15)Any collaboration with other blockchain projects to create a better ecosystem?
We are open for collaboration, please, contact us, if you want to integrate your business into the Exscudo ecosystem or have another ideas.
16)If there was a successful attack to the blockchain what would you do to resolve it?
We will do this by safety regulations incl. blocking the input / output of funds through the attacked blockchain at the time of solving the problem.
17)Any plan coming to have the project available in Asian country?especially where crypto and blockchain technology has high usage.
Asia is a very important market for us, the second priority market after Europe. We hope this year we will start to move in this direction.
18)MESSENGER sent only to users of the system, or there are plans to use this platform as an advertising and increase interest in the company and products.
Our Channels’ development plan include cooperation with businesses.
19)In term of legislation that causing delays, can you make regular updates on status or process that needs to be implemented or that has been cleared so that the investors can re-evaluate the legal risk involved in Exscudo investment?
Unfortunately, here we are bound with a number of documents, so we often cannot disclose all the details. What we can talk openly about we are publishing in our official pages and in Exscudo blog.
20)Are the payment terminals still going to happen?
Yes, they will.
21)Are only debit cards available or other type of cards could be issued?
Initially we will issue only debit cards. Later on there may be more options, as we will be keeping developing in this direction.
22)Is there already a plan for custom transactions? in the case of crypto.tickets what was the approach, custom tx or offchain approach?
Crypto.tickets case is the regular custom smart transactions approach.
23)Inside your company, are you already communicating with the messenger? As a test version. Or is it not ready yet?
By now it is not very convenient for communication, as there are some bugs that we are fixing and new features are being added. However, we plan to start using it for internal communications very soon.
24)The messenger from the company can use those who do not have eons? In general, the direction of the secure messenger is like a huge whole project in the future? Or just an addition in the form of a wallet and fast correspondence only for users of exscudo?
Messenger can be used by everyone, no matter he or she has EONs or not. So yes, it is aimed for a very large audience.
25)How are things going, with the possibility of attracting new users to the stock exchange? Will not there be such a problem that for a small part of investors (us), there will be even fewer buyers of EON. Hence the problem of honest liquidity EON. I remember Andrei’s reply that the exchange does not interfere, but does not it mean that they will simply forget about us. Will the ground be prepared for favorable trades? News, promotions, promotions, etc.
We do have a serious marketing plan which we’ll start implementing actively after the testing period. We do not want to discuss it in details, as it won’t be so effective then.
26)With whom you can collaborate with and who not? Banks, government systems? Or only commercial customers.
We are building collaboration with banks, as we need this to issue our debit cards. Besides, we are discussing another collaboration opportunities. However, we cannot disclose any particular details so far.
27)Ordinary people, too, will be interested in your products? Or the main direction is a legal entity?
We are making our products for a very wide audience: beginners, professional traders, financial institutions and institutional investors. In brief, everyone who wants to access crypto market easily and legally. We have different options for different types of audience. For example, trading tools of different levels of complexity on our exchange.
28)Will KYC be needed to move and exchange digital assets or just for those which require FIAT?
KYC is required for all the operations, both for fiat and crypto.