BASE.INFO team has interviewed Hadley Barrett the CEO of ReMoneta project. We have asked the most topical questions to get acquainted with the project and to learn the future plans of the ReMoneta team.
Please welcome, Hadley Barrett.
Please describe your company/project in 2 sentences.
ReMoneta is a global commercial eco-system consisting of key industry- disruptive products. EXIT is one new product in the ReMoneta global payment eco-system. The Exit token is 100% backed by USD and allows anyone, anywhere, anytime to easily convert between crypto and USD for a fraction of the Tether price.
With more financial security, since the company is backed by land and with much more flexibility and functionality since it runs in parallel on Ethereum and an adapted-hyperledger network.
Why did you decide that blockchain should be the basis of your project?
Without blockchain it would not work. The technology is an inherent part of the ReMoneta solutions.
Why did you launch the ICO? Was it the only option to collect the funds?
A good project collects funds from many sources and the ICO for us is not really about raising funds. It is about generating a wide network of interested and engaged people. In a few weeks we built a group of around 85,000 real people who are actively involved in our own referral program similar to our future community mining activities. This exceeded our expectations.
TG, BTT and other social sites are useful for communication but our focus was rather on our own system to build the community.
Briefly describe your team. Why these people became the engine of your project?
We have a very experienced team in the fields of technology, real estate and finance which are needed for the success of the project. All teams members have many years experience in relevant fields.
The founders are particularly experienced and qualified, together having managed over Euro 4bn of projects and assets during their careers. We choose the people to fit the tasks required, be that in depth real estate, advisory, media contacts or technical expertise. We will continue to build the team with experienced staff as the project progresses.
What are the main centerpiece and the highlight of your project? What will attract the investors' attention?
Each product within the ReMoneta infrastructure significantly disrupts the industry it is targeting. Be that through extreme cost reduction, new functionality, exemption from regulation or new revenue streams which turn the previous way of working on its head.
One example is our RR network - a zero cost and value-based network for transactions and money transfers. This radically changes the payment industry. Our business model is not based on income from transactions and therefore we do not require this income stream. Therefore we disrupt the whole concept of global payments.
What are your thoughts about ICO marketing? Can it be really effective due to all the restrictions and other phenomenas?
Most ICO marketing is based around hype and rumour and tends to be quite aggressive. It is effective to pull funds from less experienced investors, often those who have built their income from crypto. It tends to target those who believe in huge returns with little work.
Perhaps there is a place in the market for this kind of unregulated promotion as long as it comes with a warning sticker. However, it is not effective for funnelling funds to deserving and professional projects. The existing system is more effective. Yet I would also say the existing system is difficult for most people and misses some very good opportunities.
Why is your project better than your competitors?
In the case of EXIT, it does the same job as the competitors, but faster, with more available functionality, more financial security and for a fraction of the price. It disrupts the market.
What are the major ways of monetization for your project?
Investors in EXIT receive 0.25% of all transactions made using EXIT tokens. Dependent on the number of future transactions, this can be a very significant sum. Looking at the current market situation, it is not impossible to imagine a very significant return.
Which markets are the most attractive for you right now? Do you take in consideration the USA and other countries with the legal restrictions for the crypto crowdfundings?
Our system is global.
Describe your project in 3 years? Will it change something in the world?
We hope that ReMoneta will be on the way to changing the way people view and conduct commerce.