Co-Founder of Now Coin Market Game Zoltan Toth: Blockchain Adoption Will Come From The Masses (Interview)

1- Over 1,600 cryptocurrencies what is the unique value of your NowCoin Market Game? 
More than two third of all cryptocurrencies or tokens are wrapped around a specific project, and sold in ICO’s. These tokens naturally share the faith of the underlying project, they do not claim existence outside of their platforms. Time will tell if there will really be a market for so many project-based tokens and cryptoassets. Our focus is to make NowCoin a generic cryptocurrency, one that is generally implemented and used as a transfer of value. The NowCoin Market Game is our way of making some noise around NowCoin, building its holder base, building its capitalization, focusing the holders’ attention, and then luring merchants into the ecosystem.
2- Can you talk about yourself a little bit? Why you have decided to create this and how experienced you are to execute this project?
I have a legal background, For the last 15 years I was practicing as a business lawyer. I specialized myself early onto international financial structures and transactions. I am quite a strange bug among lawyers though, I come from an engineer family, I grew up among computers. In my free time, instead of reading legal books I was always trying to setup one of the old computers and for example make their wifi board working under Linux – something not very typical for lawyers. This is how the cryptocurrency revolution completely washed me away, and absorbed my total focus during the previous year. The possibilities that tokenization is offering for traditional legal and financial relationships literally blowed my mind. As for concrete experience, I am vested adviser of the currently running Etheal ICO, but besides this project I maintain a continuous practice of advising crypto startups. I am also President of the Hungarian Cryptocurrency Foundation, whereby I am holding lectures and participating in panel discussions.
3- How NowCoin helps for the widespread adoption of cryptocurrency market?
What we do is unique in a way that we have a solid plan on how to build both pillars of a working cryptocurrency: the holders and the merchants. There are many cryptocurrencies, but most of them are lacking a strong focus on being adopted globally at thousands of endpoints. We will focus on community development and marketing, instead of endless debates on scalability and other technical matters. Believe it or not, adoption will come from the masses, and the way to people does not necessarily lie in solely polishing the technology. Do not misunderstand me, I am not against development, but at a certain point of time the global crypto community should start to speak the language of the average person. We are lucky to work on the BitShares blockchain which is by far the most powerful and scalable financial platform currently, accordingly we have the freedom to look ahead, and work solely on adoption.
4- What is your strategy to attract more people and keep the project attractive for investors?
We believe in the power of gamification. The easiest way to win people’s hearts is making them having fun and being rewarded. We created a blockchain-based game where – among normal periodical rewards – a lot of additional bonuses can be achieved by playing special competitions. The competitions will focus the holders’ attention to our core channels, and if you have a capitalized community that is paying attention, then you have a marketplace, ready for merchant entry. To further boost community engagement in building capitalization, we are planning to introduce a PayPal-style referral system, whereby we would equally reward new holders and their referrals. On the other side, we also actively started to work on building the merchant endpoints. First we are seeking partnership with online e-commerce or other platforms that would consider introducing crypto to their payment methods, and would be open for the crossmarketing possibilities that a cooperation would offer. Partnering with NowCoin is a win-win for such platforms, since we provide them with a working cryptocurrency along with organic promotion within the NowCoin community.
5- What is the main differences between cryptokitties? How do you differentiate your project?
Cryptokitties is itself a game. The NowCoin Market Game is a limited time effort for the purpose of the creation of the NowCoin ecosystem. The Game is our asset for adoption, but our vision is way beyond the Game itself.
6- Gamification is absolutely important. How will you succeed in mass adoption?
We are not afraid of mass adoption at all 🙂 Our underlying platform, the BitShares blockchain is the single most powerful financial blockchain in the world. Just check that on Blocktivity, there are days when BitShares alone is handling close to 50% of the total number of transactions of the complete global blockchain ecosystem. And BitShares does not even break a sweat in the meantime… NowCoin is an organic cryptocurrency on the BitShares blockchain, meaning that users can pay the transaction fees also in NowCoins. We have the support of the BitShares community and Foundation, and together with this amazing platform we have no doubt that NowCoin is ready for global and mass adoption.
7- What are the platforms that investors can buy NowCoin?
NowCoin is listed on the BitShares decentralized exchange. We are selling a total number of 50 Million NowCoins on the DEX, our genesis issuance is happening on the NOWCOIN/BTS market pair. Following purchase, holders are immediately able to trade NowCoin on any other market pairs on the DEX, we already saw NOWCOIN/USD, NOWCOIN/CNY and NOWCOIN/BTC transactions. NowCoin is also included in the Trusty Wallet, which is both a mobile wallet and a mobile exchange platform.
8- Lastly, how powerful is your team? Can you mention about them?
The founders of NowCoin are legal, financial and marketing professionals. I invented the core concept together with my business partner, Dr. Szabolcs Hargittay, who has been a professional chess player during the previous decades. He has great influence on the logical and mathematical blockchain games that we are playing with our holders. Dr. Gyorgy Cseh is coming from the financial world, he was the CEO of CIB Investment Fund in Hungary, responsible for a portfolio of more than USD 1.5 Billion. Mr. Istvan Seres is the head of our online marketing operations, where he has 10+ years experience. Currently we are actively building our global advisory board, in these days we are pursuing negotiations with seasoned professionals from Canada, US, and Dubai (UAE). Our Founders Pool is open with vesting options for any professional who believes in our vision and could assist the NowCoin ecosystem on any field.
Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.