AllAboutTech Interview - Part 5


#1

Hi folks,

In case you haven’t seen it, Part 5 of @AllAboutTech93’s awesome interview with ETN CEO Rich Ells is now live!

In this episode, Mick and Rich talk in more detail about the ETN Ecosystems. Rich goes into detail about how we’ll work with mobile operators and vendors, our plans to scale ETN and

Check it out to learn about our plans to work with mobile operators and vendors, remittances, and how we’ll scale ETN.

Here’s the link: http://bit.ly/2P0E2PJ

What did you think? Which vendor would you most like to accept ETN? What would you like Rich to talk about in future community interviews? Let us know in the comments below…


#2

I did not fully understand how the scaling to 200M user actually work for us with the blockchain.

I really wish that all announcement like this that was in the interview could come first to the forum, if only a minute before the rest of media, because i feel that this is the place for the hardcore ETN community.

I think AAT do a good job, but with by studying his own production he can improve and become a pro youtuber.

If i could choose vendor: Virgin-Vodafone- Steam (gaming platform)-Spotify-netflix-Itunes-Tele Nord.

The Norwegian airline company and they are also a bank are looking in to cryptos so they are a good partner.

It would be great if ETN can get integrated with a booking app like booking.com that will help a lot for mass adoption.

Another example for a booking app that should be easy to integrate in the ETN system www.bookatable.com The more of these types of apps will do a big different and give us more uscases.

Unfortunately i am a terrible app developer or i would do that myself and earn millions. another way to the app world is thru companies like mobincube.

I wish the ETN team could hire more app developers or programers so ETN could be more integrated in already existing apps.

In every business that is ground breaking there is a time race to be the first and most powerful in the space and i hope ETN is racing in lightning speed get the resources needed to achieve the goals asap, because “second place is first loser” (Alex Ferguson)

Ticketmaster is one of many apps that can benefits from ETN. ETN must start getting their products out to vendors and start crushing the market like a savage Joe


#3

We discussed a bit of this video in “Get ETN through mobile operators” -thread with @Blues_brother . But to get more visibility, on what I believe to be important point, I’ll summarize the question here too.

Where I saw Richards answer to the first question fall a bit was when he started talking about how will the “agent” get hold of more ETN, to pay her/his bills to the operator. At around 5:10 Richard said: " if he (the agent) now wants to get hold of ETN and hes got cash from the feature phone people. He can actually start saying: “I will sell you some ETN” to people."
At that point I was just thinking: “Wait what? How is the agent going to get more ETN by selling ETN to people?”…

How is the agent that is selling top up vouchers to people going to get his ETN to pay for those vouchers to the provider? Lets say he gets 30% of what he needs from the smartphone users in ETN and rest 70% as cash from feature phone users. At that point, if he wanted to pay the bill to the provider in ETN he needs to get those 70% cash to be turned into ETN. And if he wanted to sell ETN to people, he would need to get even more ETN from somewhere. So where does he exchange this 70% cash into ETN and where does he get the ETN that he would want to sell to people?

This is the problem I had with Richard Ells’ answer. He talks about not needing exchanges and it is a closed loop. But In my view there is a huge “plot hole” in that.
All in all, I think the phase when loop can be sustained through ETN team (mobile miner) and the mobile operator (marketing efforts with their ETN) will pass rather quickly and someone will need to get more ETN to the people from exchanges. Otherwise why would we be expecting ETN’s price to go up? Sure user numbers are nice but if they do not create demand, they do not mean much when it comes to price.


#4

I think other solutions should be supported as well when it comes to cold storage or paper wallets such as a hardware wallet like Ledger Nano S. A paper wallet is not that secure while the most secure solution is the Ledger Nano S. They can even steal your ledger and you still will not lose your coins if you got your 24 word paper for recovery use stored in a safe or similar. Currently the Ledger Nano S does not support ETN but hopefully it will some day.

In my opinion we should discourage centralization of storage of coins as much as possible because it makes systems more prone to attack due to the incentive it builds up. Sure centralization of things has it’s uses and I’m not a black and white kind of guy but when it comes to the security of your coins I think users should be told about the advantages / disadvantages of storing the coins on an exchange, ETN webpage, paper wallet, hardware wallet and let users have a more informed decision.

Some ideas that just came to me.
Would be great if the ETN community could promote the hardware wallet Ledger Nano S and try and convince the developers behind it to add the support of ETN. Another idea would be if the ETN community or the developers behind ETN would create a hardware wallet like the Ledger Nano S.

Just my thoughts on the subject of cold storage and paper wallets.


#5

That’s the whole point of the instant payment API. Electroneum doesn’t need to build anything themselves. Developers around the world can leverage their tech. So good things will come :wink: