Exscudo are launching a new cryptocurrency exchange, two key features being created by this Estonian company are safety and a bridge to the banking system. The road map is littered with features and options. If all the roadmap is followed through. Exscudo will be a heavyweight in the exchange arena. The name exscudo means “Ex” for exchange and “scudo” which means shield in Italian. Exscudo was also the name of the Portuguese currency when Portugal was at the peak of its imperial prowess. Andrew Zimine, CEO and Founder of Exscudo shared with us his wisdom about Exscudo.
Exscudo has already collected a whopping $2,495,108 USD as contributions towards their ICO. (Initial coin offering)
What gap does this project address in the crypto space? What is the elevator pitch of Exscudo?
Exscudo is an all-in-one financial solution. Its main goal is to integrate cryptocurrencies into the traditional financial world and to create a single gateway to the market for common users, traders, investors and financial institutions. Our goal is to integrate into ordinary people’s lives the advantages of cryptocurrencies and the blockchain technology, which include security, speed and absolute transparency while maintaining the familiar surroundings.
For more information on the Exscudo ICO visit: https://exscudo.com/ico/
What are the skills and background of the team responsible for Exscudo that will make not only the development but also the implementation and marketing a success?
The key inspirational figure of Exscudo is Andrew Zimine, CEO and Founder. He has over 18 years of experience in management of IT businesses. Two of Andrew’s key successful businesses, despite Exscudo, are Clarus, a software dev company, and 51 ASIC, major Russian mining equipment distributor. As a professional CEO, Andrew invests all his skills and knowledge into the implementation of Exscudo products.
The Marketing Department of Exscudo consists of 6 people with different competences, including internet marketing, public relations, community management, etc. The team also collaborates with advisors and ambassadors across the world that consult the company on foreign markets. This is especially important for the Exscudo international expansion.
The core idea of this project is to be a bridge between the traditional banking industry and the cryosphere. This relationship has been tense at best in the past, what is the edge that Exscudo brings that will change this dynamic?
Exscudo is not trying to counterpose the traditional finances to the cryptocurrency market.
Instead, we are looking for – and finding – points where we can collaborate. The world is becoming more integrated, and it is inevitable that some day the two financial systems will need to find a way to interact. This is what we thought of when we developed the idea of Exscudo.
Our system connects users of all levels and regions within one platform and around one center of liquidity. Exscudo is legally regulated, and this allows us to deal with major financial institutions. But Exscudo is also secure and anonymous for those who prefer cryptocurrencies only. We offer products for quite all user categories, and they are easy to use, flexible and secure. Exscudo is a company that aims to expand to various jurisdictions in different parts of the world, so it can become a truly global project.
Who are the main competitors of Exscudo centralised exchanges such as Poloniex and Bittrex OTC exchanges such as Wall of coins or decentralised exchanges such as Blocknet? Does Exscudo fit in any of the above categories?
Exscudo is not just an exchange, it an integrated financial services provider. In this context, it would be more appropriate to speak about competitors if we take single Exscudo products a stand-alone products.
The Exscudo exchange core is centralized, but the access to it is gained through the decentralized EON network. Consequently, it is hard to say to name any companies that are direct competitors. In some sense, any financial services provider is a competitor – or a colleague 🙂 – for Exscudo.
Will Exscudo offer margin trading in the future?
This feature is planned, but it will not be released in the first updates. The development and testing will take time. The margin trading is mentioned in our road map on the trading services. It is the key feature of the second ‘package’ of services.
The current requirement to run a node is 25.000 coins, what is the likelihood of this changing in the future?
It is highly unlikely that this will change in future.
Can you give us estimates of rewards for nodes running for 12 months?
The average reward is around 1% of the sum deposited on the node per month. However, the reward depends on many factors: on the number of nodes, the number of transactions, the amount of released EON color coins, etc.
Exscudo uses the DePoS algorithm. The more coins are deposited on the node, the more is the probability to sign a block, and the more does the node owner earn. We will publish detailed guides on setting up a node, so that even non-technical users are able to do it.
The EON blockchain will also be a platform for the creation of dapps, will these be running on nodes? If so will the nodes be compensated?
The smart transactions are not executed on nodes technically, but any transaction that needs confirmation by the blockchain has a commission for nodes. So, it makes no difference what kind of transaction is being confirmed by the node, it receives the commission anyways.
Will there be a registered foundation or LLC that manages Exscudo?
Exscudo OÜ is a company registered in Estonia. Besides, i
n the coming months we will register an EON foundation. We are now solving legal questions concerning it.
Will Exscudo be audited, by which firm?
Yes, the financial audit will be made by a company from the Big-Four Group. We cannot now name this company. As for publishing, only public companies (that have had an IPO) are obliged to publish the results. Exscudo OÜ is not a public company (yet).
What will be the frequency of communication with investors after the ICO?
The team will regularly release news and email updates. Besides, our team is always available on social networks, Bitcointalk and Slack. We will also launch a professional helpdesk for our users and investors.
For any additional information, please visit https://exscudo.com/ico/
We thank Andrew Zimine for the interview.