LBank AMA Recap with ELCASH
Date: 12/03/2021
Time: 19:00 UTC
Venue: LBank Telegram Chat Room https://t.me/LBank_en
Guest: Aliaksei Herman(COO of Electric Cash)
Host: Ozky| LBank
PART 1. Introduction
Ozky / LBank:
Our users actually know you.
Because we talked about it many times in our telegram groups.
But would you like to tell us about yourself and the #ElectricCash ($ELCASH) anyway?
Aliaksei Herman / ELCASH:
I am a Chief Operating Officer with over fifteen years of experience. As a strong leader with hands-on leadership, risk management, and cost optimization knowledge, I efficiently manage dedicated programs.
I demonstrate a proactive attitude in achieving my goals, and I’m focused on maximizing results. My proven advantage lies in my highly developed interpersonal and communication skills, which allow me to build relationships with internal and external clients at all levels of business.
Thanks to the knowledge and practice that I acquired over the years, I promptly take actions that boost the efficiency of project teams. For the Electric Cash I’m fully responsible for improve Program performance, create maximum value for the company’s stakeholders, develop and cascade the organization strategy/mission, to plan by prioritizing customer, employee and organizational requirements, drive performance measures for the operation.
PART 2. Questions form Twitter users
Q1: Every successful project has a few stories behind the scenes, What’s the story behind ELCASH Success? Are there any special upcoming from ELCASH updates that you want to share with us?
A1:
We wanted to create a coin that will be easy to use and has cheap or even free transactions. Electric Cash (ELCASH) is the first Proof-of-Work coin with built-in governance and staking options. ELCASH is offering cheap or even free transactions to its community. With mass adoption, users can pay with ELCASH in restaurants, buy books, pay for groceries, and more with minimal or no transaction fees. Currently, we are working on new features like mobile wallets and plans for massive adoption. In the next steps, we will work on Governance Power, staking, and other features. Our community can always find information about development plans on our roadmap which is available on our website: https://electriccash.global/
Q2: What is your main objective and what do you prioritize as you main product or market venture? What measures are in place to ensure sustainability and competitiveness in a very volatile market?
A2:
On the cryptocurrency market we have a lot of coins but everybody knows that one of the biggest problems in crypto is a fee for transactions. Our team wanted to create a community-oriented coin. People are very important to us. We believe in our community. Because of that, we want to give them a chance to participate in the developing plans for Electric Cash. We are hard-working on Governance and Governance Power for stakers. The crucial information about ELCASH you can find in our Whitepaper: https://electriccash.global/pdf/whitepaper/electric-cash-whitepaper-EN.pdf
Q3: The biggest problems today in crypto are volatility and liquidity issues, both old / new projects that end in project fraud. How will you solve this problem?
A3:
Electric Cash has two mechanisms that will allow it to maintain stability of the project. The first one is our staking program that minimizes effects of the initial inflation. Thanks to staking, users can keep their funds for the longer periods and they don’t need to worry about new coins entering the market every day. The second mechanism is ELCASH governance system that allows to change its economic parameters, like total supply, in the future, in case the demand is very high and there are problems with liquidity. Additionally, we are working on global adoption, so ELCASH can be easily available on many crypto exchanges and accepted as a payment method in different services.
Q4: With the emergence of several blockchain projects, mainly payment projects that rely on cutting-edge technology, scalability, efficiency, even without charging a transaction fee. What are Elcash’s main competitors? What advantages does Elcash have over other blockchain payment solutions?
A4:
We need to remember that ELCASH is still the first Proof-of-Work coin based on 3 foundations: Staking, Governance, and the Second Layer. From our perspective people as a community is very important. Because of that, we created a coin where stakers will have a chance to vote on future plans for the development ELCASH. It will show everybody that community is very important for us and we really want to work with them because we believe in people and their dreams.
Q5: What is the Secret of #ELCASH mass success?
Because It’s price is rising dramatically day by day, please share the reason because Many of us want to invest on #ELCASH.
A5:
ELCASH is a coin dedicated to daily activities. Because of that people will have a chance to use it every single day. We listen to our community and because of that, we created a coin that will be perfect for using day by day. Currently, we are working on massive adoption and we truly believe that in the following months ELCASH will be available for everybody. Everyone who is interested in ELCASH should follow us on social media profiles because there we add all new information dedicated to this project, including informative materials, information about listings and related events, etc. Also, all information about our development plans you can find on our Roadmap which is available on our website.
PART 3. Selected Questions from Telegram Group
A6: ELCASH is a very secure coin, so when we are balancing we lean towards safety. If it comes to the efficiency we plan to create a second layer, that will allow us to perform fast transactions. As for DeFi, we have built-in staking system, but we aware of the needs and we will introduce more DeFi products in the future. However, for now, we are focused on finalizing the coin development itself.
A7: ELCASH is a community-oriented coin. We have plans for this and next years to become ELCASH a coin for daily activities like paying for coffee or book a room. Because of that, we can say that ELCASH is a coin for everybody! We are hard-working on new features and massive adoption.
A8: We are aiming to build a worldwide project. Everyone is invited to contribute in our project. Feel free to read more on our website: https://electriccash.global/. More updates and partnerships coming in the following weeks.
A9: In my humble opinion, we are still at the initial stage of the cryptocurrency market. There is still plenty of development and possibilities in that market. I only depend on people how they will use the opportunity.
A10: Currently we are hard working for deliver a major milestones in ELCASH evolution: Governance Power function introduction what will give Community possibility to be involved into ELCASH development; staking functions; Electric Cash fast transactions layer deployment for roll-out possibility of daily-use of ELCASH; Governance feature implementation; a mobile application deployment for everyday use of all ELCASH possibilities.
Ozky/ LBank:
And it was an honor to welcome you. I hope we will do great things together.
Aliaksei Herman/ ELCASH:
Thank you very much, it was a pleasure to speak with You.
—— END of AMA——
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