Exactly a month ago, the ZYX Network cryptocurrency appeared on the BitForex exchange and tripled in price right away. The coin was trading at $0.15 in retail exchangers before the listing, and in the first days after the official announcement, the price of ZYX Network increased to $0.37. The holders of the coin have already received three times the profit and are ready to proceed with investing. Stanislav Itkin, founder and CEO of ZYX Network, talks about the prospects and plans of the project.
- How has the project changed for this month? What has been done? What are you working on currently?
SI: In fact, a lot was done in July-August. I will not dwell on the rebranding of the coin, we reported about this before, I would like to speak about the real achievements. The coin was listed on one of the largest cryptocurrency exchanges BitForex. This testifies to the stability of the ZYX Network — since today each trading platform imposes strict requirements for projects before listing. In general, a project must meet 10-12 set criteria to get listed on the exchange, and we have successfully coped with this task. In addition, ZYX Network has been included in the ratings of CoinMarketCap, CoinGecko, CoinPaprica, etc. The most important thing for us is the price of the cryptocurrency. As we promised our clients, the value of ZYX Network will definitely increase after going public. Experts predicted a twofold growth of the coin, but they were wrong — the price has risen threefold. Immediately after the price increase, there was a rapid increase in the number of active wallets. Today there are more than 2000. New users connect to the project every day, the coin has taken its own niche in the market and has its own community.
- Do you think that your coin can be considered an effective investment tool that allows making money?
SI: Along with the launch of the blockchain, the mining and staking functions were automatically activated. Users who have joined the network can receive from 1.2% to 21% per month, depending on the volume of invested funds. Reviews from current ZYX Network users confirm my words. The minimum number of coins required for staking is just 1 piece. This means you can buy one coin and just see how staking works. If this type of earnings is suitable, then you can simply increase the number. Our cryptocurrency is already used as a means of payment. More than a month ago, we signed an agreement with the international company iVendPay, which supplies vending machines with the ability to pay in crypto. Now our partner is completing the integration of the ZYX Network into their payment system, and in a few days coin holders will be able to pay for goods. You can buy a cup of coffee, a snack, sweets, etc. In the future, we plan to expand the ZYX Network partnerships and create our own marketplace. Of course, this will take time, so I cannot guarantee the launch of the marketplace this year.
- What are you going to do before the end of this year? What’s on the roadmap?
SI: By the end of the year, we plan to significantly scale our ecosystem. Even today, startups are deploying their projects on our blockchain and using the ZYX coin as a means of payment. You will hear about many of them in the near future. Geographically new projects of our ecosystem are located in Russia, Latin America, and Europe. We will also make efforts to expand the partner network, where ZYX Network could be used as a payment unit. Another area that we are going to cover is the creation of open-source smart contracts, some of which could also be used in the decentralized finance market.
- Yes, the DeFi market is booming today. Do you think there is room for the ZYX Network?
SI: Why not? I want to emphasize that ZYX Network is not an ERC-20 token or anything similar. It is a full-fledged cryptocurrency with its own blockchain, its own eco-structure, which is now actively developing. I am sure that the coin can be used in lending to projects that are deployed on our blockchain, as well as to finance third-party projects. We strive to enter and develop on the DeFi market.
- The DeFi market became so widespread due to the crisis of the banking system. Do you think that banks have become obsolete?
SI: Not at all. The fact that cryptocurrencies are developing so rapidly has nothing to do with the inefficiency of banks. Fiat money will stay in people's lives, and there is no way out of it. We are used to paying in cash or by credit card for goods and services, and that's okay. It will take decades to get used to cryptocurrencies. In my opinion, in the coming decades, cryptocurrencies will come into common use and will be used on a par with fiat money. Keeping these trends in mind, we are going to launch a debit card tied to the ZYX Network coin in 2021, as well as create our own ATM network for exchanging cryptocurrency for fiat money. MasterCard prepares to launch a cryptocurrency debit card, it is following the same path. This means that crypto will coexist with the usual paper money.
- It sounds promising. Is everything that smooth with the project?
SI: Those who do nothing have no problems. ZYX Network, like other projects, has many difficulties, and the first one is the low awareness of cryptocurrency. Many people are still afraid of digital money, which cannot be physically handled or counted. For most of them, crypto remains a bubble or fiction that they cannot understand. Also, international organizations are setting new and stricter requirements for cryptocurrencies than it was 2-3 years ago. I'm talking primarily about FATF, which is constantly reviewing its policy in the field of cryptocurrency around the world. Obviously, we monitor all recommendations and follow them. Therefore, in the next few years, we intend to hold several summits and launch a technology hub that will work on the development of crypto projects and popularize digital means of payment.