Decentralized Club AMA with Ecoinomy
On the 22nd of June, 2022 at 16:00 UTC, Decentralized Club had the honor of hosting Jonathan Millbank, Carl Jat, and Gavin Sathianathan from Ecoinomy for an Ask-Me-Anything session on their Telegram page with a community of over 100,000 people. It was hosted by DC Admin, May.
The session was divided into three segments. Introductions were made in Segment 1, questions from the Twitter community were answered in Segment 2, and live questions from the community members in attendance were answered in Segment 3.
If you missed this event and would like to know what Ecoinomy is all about, you can find a recap of the interview here. Information here should be researched and should not be taken as investment or financial advice. Also note that slight edits have been made for clarity, and links in this recap lead to images, documents, or other media.
Segment 1 — Introduction
[May]
Hello, नमस्ते, สวัสดี, Selamat!
It’s May again! The Host with The Most! 😁
We have an exciting AMA coming up with the Ecoinomy Team in a few minutes!
I hope you have all prepared killer questions for the Team! 🥳
If you would like to know more about the Ecoinomy Project! Stick around for the session! You could win rewards for asking stellar questions!
To begin, let’s welcome the guest from Ecoinomy 🥳
@JonMillbank
You are welcome to our community!
[Jonathan Millbank]
Hi great to be here
[May]
It’s a pleasure to have you over!
How is your day going?
[Jonathan Millbank]
It’s been a busy day
but good
looking forward to the questions today
[May]
Awesome!
Let’s start with a little introduction. Can you please introduce yourself to our community and also tell us your role at Ecoinomy?
[Jonathan Millbank]
Sure I’m Jonathan the marketing director at Ecoinomy
so I have a fun job here
[May]
Haha! That’s great!
[Jonathan Millbank]
In terms of my bio, I’m a seasoned board member with experience running marketing functions and brands at the leadership level, in Konica Minolta, OKI Healthcare, Tag, Nuance Healthcare, Eresos CBD, and Eco Equity Medicinal cannabis. I have an academic background in microbiology, and also guest lecture to the post-graduate student bodies at Brunel and Richmond universities
[May]
This is impressive, Jon 👏🏼
[May]
We have some of your teammates joining us shortly!
@gavinho
@carljat
You’re welcome to DC
[Carl Jat]
Great to be here and looking forward to talking about our amazing project
[Gavin]
Hi Decentralised Club, I’m Gavin and I’m the CEO of Ecoinomy! I’m a recognized advocate for the European Cannabis industry and also play a role as the CEO of Alta Flora. Previously I was a Co-Founder of Oxford Cannabinoid Technologies which was listed on the London Stock Exchange in 2021. I have also been an advisor to the All-Party Parliamentary Group (APPG) on medical cannabis and have been profiled as the “Britains Cannabis Capitalist” by The Times of London.
Looking forward to this AMA
[May]
You have a lot of achievements under your belt. Amazing!
[Carl Jat]
Hi all at DC, My background has been in corporate Top 500 companies for the last 30+ years. Have held senior executive roles in New Look, Claire’s Inc where he ran over 2200 stores in over 28 countries, most recently I led the biggest kids retailing business in the middle-east, both $bn businesses. Currently, I am currently the Managing Director for Eresos a CBD health & wellbeing omnichannel business that also operates in the private equity market.
[May]
Those numbers are 🔥🔥🔥
We have experienced professionals! Ecoinomy is in great hands!
Let’s dive straight into the main session.
Kindly use ✅ after you have satisfactorily answered a question.
Ready?
[Carl Jat]
💯
[May]
Can you tell us about Ecoinomy and the inspiration that got it started?
[Gavin]
I’d love to!
Ecoinomy’s mission is to build the blockchain-based data infrastructure for the global organic medicine economy.
Organic medicine includes natural, plant-based medicines and funghi, such as cannabis and mushrooms.
These drugs are emerging from decades of prohibition, and suffer from a number of issues that the blockchain can help resolve.
Our team has decades of experience in both crypto and cannabis. And we believe that Ecoinomy has the potential to improve the lives of millions of people, by improving their well-being through organic medicines
[May]
Interesting!
Can you tell us about the most prominent features of Ecoinomy?
[Carl Jat]
Ecoinomy is the first of its kind, the first that brings the use of blockchain technology not only to the cannabis industry but to the whole Organic Medicine industry. This incorporates important values as transparency, accountability, speed of transaction processing, record immutability and high security.
We believe the combination of both Blockchain and Organic Medicine is a revolution from a medical perspective, to ensure the availability of authentic and legit projects with safe and quality products on the market, all these would attract the attention of state authorities. We will connect buyers and sellers through a decentralized exchange with complete profiling and compliance; will solve the lack of clinical data about cannabis means, also will track the full lifecycle of product manufacturing, supply chain management and subsequent retail distribution of medicinal cannabis. Finally, we will solve the financial problems of the industry, like cash payments and banks’ reluctance with the use of cryptocurrencies.
In conclusion, blockchain technology is the perfect tool to kickstart operations in the digital environment without hindsight into the aspect of legal restrictions.
[May]
30 seconds for the community to catch up 😊
[Carl Jat]
https://t.me/decentralized_club/856706
Love what you’re doing with CBD for organic medicine! 👏🏼👏🏼👏🏼
Can you tell us about your native token and its utilities?
[Carl Jat]
The Ecoinomy platform will rely on the use of the native ECM coin, a standard ERC-20 token released on the Ethereum blockchain. ECM will be created, never to be increased, is limited in supply, and there will only ever be 1B coins in circulation. Eventually, ECM will be used as a currency in the global organic medicine market and will offer its members access to exclusive clubs and rewards via its NFT programs.
Holders of the Ecoinomy coin will be able to use it to make purchases on the platform and sell it on the exchange. Also, the ECM coin will also be offered as a staking instrument, giving its holders the ability to generate passive income through staking pools.
We will also add more as we progress through the project
[May]
Your utility is solid.
How can we acquire ECM?
[Gavin]
You can buy ECM with our INITIAL EXCHANGE OFFERING!
ECM is currently in the subscription stage, users can buy ECM at a fixed price, $0.20 USDT!
The subscription will stop when reaching the hard cap or reaching the end time. First come, first served. Now is the moment, as Trading Time will open in October.
You can only buy ECM on BitForex, for now. We will be listed on several exchanges in October.
You will find all information in our link: https://linktr.ee/ecoinomy
[May]
IEO ongoing guys!
[Carl Jat]
Yes it is on Bitforex.com
[May]
Please verify links and DYOR 🥳
Please give us a summary of your Q1 and Q2 2022 highlights and what major news should we look forward to from Ecoinomy in Q3 of 2022?
[Carl Jat]
Ecoinomy was founded in January 2022, in these six months we set up our token, our road map, our website and whitepaper, the Initial Exchange Offering, social media accounts, the team, the workflow, and established partnerships, and collaborations… We haven’t stopped since the beginning, so for the rest of the year, we are focused on the development of our platform and on attracting market participants, investors, and holders so we can accelerate the launch of our product as soon as possible. We still have a lot of work to do but we are very excited, everything is looking good.
[May]
Wow! So much done in only six months!
Many projects have abandoned their roadmaps but you are still building! That gives so much reassurance, especially in this bear market.
Ecoinomy is moon-bound, haha!
[Gavin]
We intend to fly high!
[May]
Yes! Destined for greatness! 🥳👏🏼
Let’s now take some questions from our Twitter audience!
Segment 2 — Twitter Questions
[May]
What is authentic and innovative about Ecoinomy’s blockchain ecosystem? Since organic medicine encompasses a wide range of plant-derived active pharmaceutical ingredients, what is the driving force behind Ecoinomy?
Twitter Username: @arbestefy
[Carl Jat]
Ecoinomy is working with Alta Flora, a clinical research technology company, to power research in the medical cannabis space — funding studies and rewarding patients for their participation.
We are also talking to a number of cannabis cultivation firms to understand how the track and trace solution will be deployed. Additionally, we are working with seed banks, event companies, research organizations and patient groups.
[May]
Wow! So much progress has been made already!
What kind of partnerships can we expect from the platform? with different platforms or projects in the future? How can other platforms and projects benefit the platform?
Twitter Username: @ZBSM_2022
[Carl Jat]
We have a variety of partnerships lined up with patient-focused groups who are interested in doing research into medical cannabis. Funding this research through ECM is an opportunity for our community to make a meaningful change to patients’ lives. We will use ECM to fund research into areas where Big Pharma is unwilling to spend money — for example, research into cannabis oil for children who have epilepsy. We will also reward patient participation in clinical trials with ECM. We will share more about our progress over time.
There are a number of different issues facing the cannabis and organic medicine industry which drives Ecoinomy to put all our effort to fix them. One of the biggest issues is that cannabis companies are excluded from mainstream financial services, because cannabis is federally illegal according to the US Government, and so banks cannot handle money from this industry.
Another big problem is the disconnection between industry players and the lack of a holistic approach and comprehensive solution for all market participants. Our contribution is to connect the wholesale of medicinal cannabis to Ecoinomy’s platform.
Initially, we will focus on cannabis as the blockchain has clear advantages. Over time, however, the emerging psychedelics industry (psilocybin for example) will need the same blockchain-based infrastructure, and this is also an opportunity for Ecoinomy.
[May]
👏🏼👏🏼👏🏼
I really wanna hold a good amount of ECM but I need to be sure of its profitability. Can you tell me the advantages of holding ECM & also where to buy it? What is the ECM token use case & how does it capture the value of the ecosystem you’re building?
Twitter Username: @nabilhasan123
[Carl Jat]
There are four main uses with more that will be added… Firstly, we are building a track and trace system that will use ECM tokens. We will keep track of everything from seeds (specific strain) to harvest to packaging to shipping.
Second, we plan to build an ECM Wallet where patients can hold their ECM earned from participating in research. Our aim is that those companies who use our track and trace will allow patients to buy their medicine directly in ECM, so we can connect patients with the producer of the medicine. Third, ECM will be used to fund research into areas where Big Pharma is unwilling to spend money.
Finally, the ECM coin will also be offered as a staking instrument, giving its holders the ability to generate passive income through staking pools. With generous interests, it becomes a very profitable way to invest your money.
You can buy our token on BitForex: https://www.bitforex.com/en/spot/ECM_USDT
[May]
https://t.me/decentralized_club/856753
Are there plans to add extra features to your ecosystem in the near future? What plans do you have on your roadmap for 2022, in the short term and long term?
Twitter Username: @Rifat2990
[Jonathan Millbank]
Sure there are. We are focused on the development of a user-friendly and versatile internal exchange marketplace for fully compliant medical-grade cannabis products. This will allow producers and distributors to post their profiles on the platform and develop their businesses by leveraging the provided toolset that gives access to the Ecoinomy community and the user base.
Each cultivator can upload their stock lists onto the blockchain, where genetic strains can be tracked down to the basics and provide platform users with a full journey information sheet. Our marketplace will foster an environment of open competition among providers while offering equal terms of placement and a variety of additional monetization options.
We are also planning on hosting an Ecoinomy conference on organic medicine in September in London.
[May]
All roads lead to London in September 🥳
[Carl Jat]
We will also hold events in Dubai in October as well
[May]
Dubai is fast becoming a hub for crypto events! Love that you’re part of the growing culture!
What is the long-term vision of EcoinomyLtd in the blockchain NFT market to keep up with the trends in technology, community, and related issues? Will it be integrated into the platform?
Twitter Username: @Prince10732285
[Carl Jat]
They do form a part of our strategy. In particular, we believe that NFTs may be linked to cannabis seeds because they both have the attributes of scarcity and authenticity. Regarding partnerships, we are talking to a number of cannabis cultivation firms to understand how the track and trace solution will be deployed. Additionally, we are working with seed banks, event companies, research organizations, and patient groups. We will share more about our progress over time.
[May]
https://t.me/decentralized_club/856763
Looking forward to hearing about all the progress Ecoinomy is making with CBD!
Everyone, please join the Ecoinomy Family if you’re interested in CBD!
It’s now time to take questions from our live audience! 🥳
[Carl Jat]
We like to call it organic medicine as it covers a lot of other natural plants
[May]
Organic Medicine it is then! 🥳
In this 3rd segment, I will open the group for some seconds for the live community to shoot you some pressing questions.
Please pick five original questions to answer from this chat.
Try to ignore generic, vague, and copy-paste questions 😊
AMA Rules for the community
[May]
While our community prepares their live questions, can you please tell us what country Ecoinomy operates out of?
[Carl Jat]
We have our main office in London
[May]
👏🏼👏🏼👏🏼
[Carl Jat]
Also in Dubai
[May]
Dear community, as a measure to deter bots and reward hunters, please include « London/Dubai💊 » in your questions so the guest can tell the original questions apart!
DO NOT TAG THE GUEST
The group will be unmuted in 10 seconds.
— -Chat was then opened for the live community to send in their questions — -
Segment 3 — Live Questions
[May]
Dear guest, as a measure to deter bots and reward hunters, London/Dubai 💊 has been included so you can tell the original questions apart!
Please prioritize such questions 🥳
You can pick the best ones now 🥳
[Zakir]
You said that Ecoinomy Blockchain Ecosystem offers a suite of products and services for the organic medicine industry. Can you tell me how organic medicine involves a wide range of plant-based active pharmaceutical ingredients that adopt a non-scientific principle?
[Jonathan Millbank]
Good question. We are creating a blockchain user case that supports an evidence-based not a non-scientific. in this user case clinicians upload their observations of patients and patients can upload symptomatic data, providing much-needed clinical observational data to support efficacy and contraindications
[theyasflower]
Love what your team is doing with CBD and organic medicine!
Can you tell us why Cannabis/CBD is your value proposition? Why did you choose this substance and what improvement do you think it can cause in pharmaceuticals/Big Pharma and medicine?
💊 London/Dubai
[Jonathan Millbank]
Organic medicine is a class of phytopharmaceuticals an active ingredient in many therapies and medicines available today. We all come from cultivation and healthcare backgrounds so the alignment was there, but we also saw a need that blockchain could fill in the sector. The regulatory landscape isn’t friendly to medicinal cannabis and CBD in general and patient access is poor
[Broken Native]
since the Ecoinomy system will connect buyers and sellers of compliant medical-grade cannabis through a decentralized exchange with complete profiling and compliance for each seller. Will the ecoinomy system work in a country with prohibitions on these organic medicines?
London/Dubai 💊
[Jonathan Millbank]
Another good question. Basically, we cannot offer a user case for a cultivator that is located in a regime that hasn’t regulated and licensed cannabis cultivation. BUT participants from any prohibited region can still participate in the supply chain ecosystem in other capacities
[Taiwo Bisayo]
« London/Dubai💊 »
How has the crypto market affected you in any way?
🤔🤔🤔
[Carl Jat]
We believe it will give us some additional time for us to develop the proposition and concentrate on delivering our roadmap. There still is a lust for new exciting projects and we see ours being in that space.
We truly believe that we have some solutions to make people’s lives better by making organic medicine available to the masses and by conducting trials to prove the benefits of some of the oldest organic remedies available.
[Sir DeFi]
🥇 What measures is Ecoinomy taking to manage the fear of its investors caused by the current market uncertainty? Is the team working hard despite this?
London/Dubai💊
[Jonathan Millbank]
We feel that by developing utility and technology in the blockchain the value of our coin will be evident and tangible as real technology intellectual property underpinning its value. We are working hard to execute our blockchain use cases for that reason
[Angel Tisa]
ECM token is the native token of Ecoinomy, right? So when and where can we buy your tokens? Is it already listed exchanges? And we know NFT is popular nowadays, is there a plan for NFT integration?
[Jonathan Millbank]
Yes, you can find us on BitForex!
[Carl Jat]
https://www.bitforex.com/en/spot/ECM_USDT
[May]
Aaaaaand it’s a wrap!
This was such an insightful session! Do you have any closing remarks for our community?
[Carl Jat]
Been great at spending time explaining what we are doing, please join us on our journey.
[May]
You heard!
[Carl Jat]
ecoinomy.io
[May]
So many great things to expect!
Thank you guests for your time with us today! We had a full house!
Wish we could carry on with the exciting QnA but you have to attend to other affairs!
Our warm regards to the rest of the Ecoinomy team at the HQ working to make this project a success! 🥳
You are a super project! 🥳
[Carl Jat]
👏🙌
[May]
Until next time, do enjoy the rest of your day!
The AMA with Ecoinomy is now over