AMA with Espcoin

Introduction with ESPCoin

Celeb | Decentralized Club:
Introduction questions

Q1. What is ESPCOIN project about and what are its goals?

Eric Loit:
The ESP Project has created a ERC-20 utility token E$P on Ethereum to support ecosystems of Education, Renewable Energy & Digital Payments. E$P is a component of a much larger vision where the project will help build out the individual use cases in the three mentioned sectors. Using the decentralized nature of crypto, this address key problems that exist in each market segment. The project is not only creating the Token but is building out the market and creating the use cases that will utilize the token as well.

We have been working on the Educational platform for over three years, as well as looking to deploy certain POS solutions at a country level. Both platforms had some common issues, especially in developing countries for which the E$P Token nicely solves. Combining this with a need to create a funding platform for Solar (renewable energy), the E$P Utility Token was a natural fit. We wanted to be focused on socially responsible, environmentally friendly and ethical businesses. Making the quality of Education better, enabling all to have access to online convenient services through use of digital payments and helping the environment by helping facilitate bringing renewable energy projects to life is our way of achieving that goal.

The E$P Token has deeply integrated use cases in each of those sectors. As our business units are bringing value back to the coin base, being diversified across a couple of different industries also lends us strength and resilience without relying on any one particular mode of business.

Celeb | Decentralized Club:
I like the fact of renewable energy

Quite a minute to read

Wow
Excellent goals

Eric Loit:
Enjoy 😉

Celeb | Decentralized Club:
Lets move on to question 2

Q2. Can you shed some light on your recent working agreement with Circle Blue ?

Eric Loit:
Certainly,

This is all related to digital payments. CircleBlue is an established ECR provider (Electronic Cash Register) who provides a complete end to end networked solution. We are partnering with them to bring crypto currency to their platform. Using E$P as a form of digital currency, users can easily then make purchases directly from their smart phones. As well, the entire network of merchants that have the CircleBlue system can also then act as a mini exchange for Fiat. This then allows us to instantly be accessible at 1000's of points of presence with utility across those 1000's of individual merchants.

This really democratizes digital payments as everyone has smart phones but many, especially in the developing countries that we are targeting in East Africa do not have bank accounts. This is the partnership that we have announced first with another one that we hope to announce in just a few days that is larger in scope across a larger geographic region.

Celeb | Decentralized Club:
Africa is quite an underdeveloped country

Would you also be picking ambassadors from that region

Eric Loit:
Yes, so the need is great

We have contacts in every country that we are targeting

Celeb | Decentralized Club:
Would west Africa also be included

Eric Loit:
Of course, when we are ready to launch the service, we will begin awareness campaigns and will be using a number of ambassadors

Celeb | Decentralized Club:
Or east Africa is the only target for now

Eric Loit:
West Africa will be covered by another partnership that we hope to announce in a few days

Our expectations is to cover all of Africa, parts of Asia as well

Celeb | Decentralized Club:
Noted

Q3. What are the various usages of the $ESP token and how do we acquire it?

Eric Loit:
The E$P token is a utility token, as such we use it for Digital Payments or funds transfer uses in Education, Renewable energy and of course Digital Payments. In education on two different platforms, we use it as a form of fee payment, circumventing the entire merchant acquiring process that exists with credit and debit cards. This reduces cost as well as instantly credits the merchant without waiting for expensive processing to complete. The token will also be used in an online educational content delivery app called Talk2Expert. Here users will use tokens to pay for content, content providers will earn tokens and advertisers will pay tokens. Content consumers also have the ability to earn tokens by watching placed advertisements, this subsidizes the cost of the content that the consumer wishes to purchase. In this way we are reducing the cost and making content more affordable to those that are in the developing world.

You can currently acquire the token directly from our website at espcoin.io using Metamask purchasing in Ether. We are also available on UniSwap V2 where you can trade the E$P token against 100's of different Ethereum Digital Assets.

Celeb | Decentralized Club:
Great

Last question for this segment

Q4. Can you tell us about what are you guys focusing in delivering further in this year ?

Eric Loit:
ok

Celeb | Decentralized Club:
Yeah

Eric Loit:
As the ESP Coin Project just started in May, we have a lot focused this year. For the token itself, our next couple of milestones are getting on to a central exchange, and begin implementation of our layer 2 solution to address the high cost of Ethereum gas fees. For the business units, we are working hard to get out our initial beta applications. Talk2Expert will be our first application that we expect to launch followed by SchoolConnect. We also would like to launch our Renewable Energy DeFi application at the end of the year. In essence we are running a few parallel businesses together, developing partnerships, growing awareness and the community. So there is much more to follow for the rest of the year.

Celeb | Decentralized Club:
So much on track currently i see

Community ask questions from Twitter

Celeb | Decentralized Club:
Twitter questions
1. Good news always skyrocket good projects, now what partnership deals or what other projects who already made names out there are you thinking of having deals with to make ESP heard and been versatile?
@lady_sheraz

Eric Loit:
Thank you for the question,

We will always continue to create new partnerships, we are reliant upon them. Be it marketing, or new business models. We will on the constant lookout to enhance our awareness and our product offerings in the uses cases we have established. CircleBlue is one of those. We will also be creating new ones as we progress through the roadmap. We also expect to be a blueprint for others to follow and we are happy to engage with them in those endeavours.

Celeb | Decentralized Club:
2. You recently announced that your bounty contest for ESP has been postponed,but no reason was given for this action, Could you tell us why it was extended?
@Damilolaolonit1

Eric Loit:
The program was extended not postponed. This is due to the fact that negotiations have taken longer than expected with the exchanges. The exchanges have all been very busy with so many applications that we are somewhat tied to their processing times. In other words we were a bit aggressive with our time line on that specific point. So extending the program was a natural decision based on the current circumstances.

Celeb | Decentralized Club:
Ohh true

3. Hi there, I'd like to know how the E$P token
'Reduces inflation pressure, improve price stability and reduce risks of unsound monetary policies by governments. also, how it bring security to POS transactions...'.
Can you tell us how

Twitter username @Josephayoola19

Eric Loit:
As much as I would like E$P to be the solution for everything, clearly it cannot be. We will have little influence on monetary policies set by governments and the associated economic effects of such. Our token being broadly based and not valued in a single country will of course provide value stability to the token but unfortunately will not soften the blow of wild forex swings. On the securing POS transactions, the fact that all transactions will exist on a blockchain means that any transaction can be easily audited. Both for merchants, and consumers but also governments. They will have the ability to make sure VAT is properly collected as well which is a huge improvement over a cash based society. Reducing the grey market should have a stabilizing effect as well. Equal enforcement of existing tax policies should strengthen governments as well.

Community ask questions from Website

Celeb | Decentralized Club:
Website questions
1. I see in your roadmap , that you said in the fourth quarter of this year you will be working with NFT.. So can you provide some more information about the proposal and what exactly do you plan on achieving with them..? please give us elaborating details on this great collaboration.

Telegram Username: Yomcy01

Eric Loit:
We plan on using NFT's behind the scenes with our Renewable Energy DeFi application. This will be in the form of tokenizing project assets as collateral for the financing that the solar projects will receive. The technology of a NFT is ideal for this and will be implemented as one of the underlaying features of the smart contracts that we will create to deploy this application. It is not our intent to sell NFT's or currently make it part of our utility token ecosystem from a user perspective. This however could change with some other applications that we are considering in 2022 with regards to managing supply chain finance and purchase order factoring.

Celeb | Decentralized Club:
2. Why was $espcoin built on erc 20 network how do then to deal with Ethereum network issues or would there be a bridge to bsc network

Telegram Username: Fiyako12

Eric Loit:
We built the E$P Token originally on Ethereum to take advantage of the smart contract functionality. Of course this also has the issues of high transaction gas fees. We will be deploying to different chains that have lower fees and higher transaction rates. Will depend on the use case. For instance on a digital payment ecosystem, cost and speed is very important, but in certain cases we will not need advanced smart contract capability. We are considering BSC and Cardano as good alternatives as well as our own native chain. In every case we will have a gateway or bridge to the other chains that we use. We will also be looking and implementing layer 2 solutions as either a separate side chain or ecosystem as well on top of Ethereum.

Celeb | Decentralized Club:
Last question for this segment

3. Has sceurity audit being conducted how do prevent a breach with the so many hacks ongoing on the blockchain network

Telegram Username: @Laure_hawod

Eric Loit:
Security is very important to us. It is part of every process and policy in the project. When we started the project, before minting the token we had the token contract externally certified by Certik. This is one of the efforts along with many others to root out any potential exploits. Our token contract code can be viewed directly on GitHub as well as our certification report at Certik's site. These links can be found directly from the espcoin.io website.

We have several other security measures around the token. Including security around physical access to address keys and so forth. We will continue to audit and certify where it makes sense to do so. Typically this means that any publicly accessible smart contract in a Dapp will go through a certification process.

Celeb | Decentralized Club:
Thank you for your time

Eric Loit:
Thank you all for attending this AMA session with ESP Coin Project and the Decentralized Club I appreciate all the valuable insight from the questions asked. Please visit espcoin.io for more information. Our ICO is active and you can directly purchase tokens now on the site with Metamask & Ether or through UniSwap. For more information and to be in the know with the ESP Coin Project, follow our various social feeds:

Telegram: https://t.me/espcoin_chat
Twitter: @ESP_coin
Facebook: https://www.facebook.com/ESPcoin-110509951269169
LinkedIn: https://www.linkedin.com/company/espcoin/

Again, thank you and I look forward to welcoming more of you to the ESP Coin Project. I will start a YouTube Live stream to answer some more questions as well as any live questions that you ask. Please participate for some 1 Million E$P Token Giveaways.

https://youtu.be/wCM9otzZRAE

Live Questions answered by ESPCoin

1)David Alvarez:
It seems that for the next month of October of this year they plan to carry out a Student Information System, which in short summary will be, the first public launch of the SIS system in educational institutions, but beyond that, I would like to know, on what criteria are based to select the educational institutions where this launch will be made, that is, are there some requirements demanded of these institutions or not?

Eric Loit:
We target specific territories to launch the SIS platform. This is due to the fact that we localize each deployment at a country level. Our first will be in Vietnam. This is selected for a number of reasons. First they have a large quanity of private schools, so adoption of new unproven technology is possible. Second, Vietnam is very digitally enabled. They are very accustom to using smart phones for banking and other services, so having the school information system is a natural fit. From there, we will be targeting other developing nations of the world, where we believe we can have a material impact on the quality of education.

2)Yu$ra🥂:
In recent months or weeks, there have been many failed and disappearing projects (SCAM) because the tokens have decreased in price or become ashes, how can #ESP convince us not to do that, what are the ways to make #E$P coin price stable?

Eric Loit:
This is an unfortunate reality in the crypto space. There are many scams or just a dash for cash mentality. As you can see, we are probably not the best marketing experts, we are more focused on the use cases rather than the token value itself. Our token economics are designed for consistient value injection and we have placed all the underlaying value of the token in the foundation of the business uses cases themselves and not on marketing hype. As for building trust, we know that takes time. If you look at our LinkedIn profiles, you can see that I have been in the technology industry for over 30 years. I have plenty of historical references to support this. You have never seen me or any of the team connected with fraudalent activties. Our way of building that trust and by extension the value and stability of the token is to keep executing on the roadmap and deliver what we said we would do. This includes always being as transparent as possible.

3)কাপাবো আজ:
covid-19 How did you run this business? You were safe and you were all good

Eric Loit:
Thanks for asking about this important topic. Covid 19 has been a serious issue for the entire world and we as well. Currently we have been able to as a group work remotely as we build awareness for the Token and the rest of the project. There is devopment on the techonology that is also being worked on. Now we are facing some headwinds in Vietnam due to the fact that Covid is out of control there. This can adversely affect the launch of the educational platform as we need more developers there for the UI elements, onboarding teams that go the schools as well as an outbound sales force. Of course, right now the schools are closed so we cannot go to them at this point in time, we do hope that will change soon as they begin an aggressive vaccination program. There will be some announcements about this once we get some clarity as to the timing

4)Tetee95:
Is there any particular exchange where I can buy the $ESP coin at the end of this ama. Do let me know and since you're built on Ethereum, is there any possibility you will add blockchains like Matic, Solana as these have high speed and low fees attached to them?

Eric Loit:
We are currently available only on our Website using Metamask or on UniSwap version 2 where you can swap between 100's of digital assets. We expect to announce in a few days when our central exchange partner will have us listed. In point of fact, I am executing the decision on which exchange we will begin with today. So if you are not able to purchase off the website today, very soon it will be on a central exchange.

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