Ezpos (EZT) — ICO Alert Report
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ICO Alert Quick Facts
- New token powering a universal loyalty community
- Large amount of retailers, revenue and more already exists with EZ Solution company
- Pre-iCO sold out; ICO begins January 1, 2018
- Three rounds of ICO; 1st round 1 EZT = $0.85
- 1,000,000 / 5,000,000 EZT tokens for sale
- Easy for merchants to launch their own customer loyalty programs
What is Ezpos?
Singapore-based EZPOS Holdings, is a parent company of EZPOS JSC which was founded in 2011. EZPOS JSC is a cloud-based Point of Sale (PoS) system provider owning proprietary technology which underpins the two web services, MAYBANHANG.NET and MAYTINHTIEN.NET.
With 130 employees and 6 years of experiences in the SaaS market, we have built a strong network of more than 10,000 merchants serving millions of local and foreign customers.
With many years of supporting and co-working with thousands of SMEs in Vietnam, we realized that there is a lack of, or limited access to marketing and customer loyalty management services — which is a powerful set of tools to acquire and retain customers as well as boost their business.
Traditional solutions for customer loyalty programs such as the ones involving loyalty cards are losing effectiveness due to a lack of user engagement and low customer incentives (while being quite expensive because of third party involvement).
On the global scale, the loyalty market is estimated to grow to $6.2 billion by 2023 due to a sharp increase in mobile phone usage.
Working between merchants and customers, we offer a seamless integration of a services portfolio built on an on-demand-service platform over our existing cloud-based POS system providing the following services in the image below.
- Laurent Nguyen, CSO of EZPOS
ICO Alert: How does the EZPOS token function within the platform and why is it needed?
Laurent Nguyen: EZPOS token is called EZToken. EZToken is a new cryptocurrency based on the Ethereum/ERC20 blockchain standard. It works in a similar way to Ether.
EZToken is used as an exclusive medium of exchange on the EZ Marketing and Loyalty Platform which replaces and enhances the traditional Customer Loyalty Card. EZToken will completely change a customer’s perception about loyalty services.
Please click here for more details.
ICO Alert: EZPOS has attractive stats on it’s website about stores, revenue, merchants, users and more that already exist. What is the existing business and how will it benefit the EZPOS project?
Laurent Nguyen: Our existing business:
By delivering this platform, we will enable an eco-system including brands, merchants, consumers and service providers working in a cooperative manner and drawing mutual benefits from the system. This eco-system is explained as follows:
Merchants and brands will instantly access the loyalty system in the POS without any need to install, manage or require maintenance services. They can acquire EZToken to buy a set of services such as Loyalty Points, Email, SMS, and E-vouchers to reach a broader customer base available in the system.
Customers earn Loyalty Points as a fractional amount of EZTokens from their buying activities and redeem points for any gifts or rewards offered by other brands and merchants registered in a centralized web portal.
Service providers can shape their marketing services with smart contracts and exchange for EZToken.
Investors can trade EZTokens on universal coin exchanges to invest in the eco-system and draw financial benefits as the more participants engage in the system the demand for EZToken will increase
Customer behavior data captured by the system will enrich our data analytics services which will provide feedback to merchants for even more effective marketing campaigns.
The eco-system benefits from quick network growth because the more merchants participating in the system, the wider choices for rewards offered in the redemption catalog, which in turn will stimulate more customers to join. When customers earn instantly valuable incentives from their shopping activities, they are more enthusiastic to re-engage. As the number of customers involved in the system increases, the merchant acquisition will increase even more quicker.
ICO Alert: What is the web-based gift portal and how will it function?
Laurent Nguyen: The Web-based gift portal is a marketplace web portal presenting gifts and reward offerings from merchant partners to their customers. Its role in the whole platform is to enable interaction between merchants and customers. It will be like using the web portal for Skymiles Loyalty Program, but you can also collect loyalty points for Stars Alliance, Lufthansa or Delta Airlines.
ICO Alert: How much are the monthly subscription fees for merchants? How are large merchants incentivized to become a part of EZPOS instead of creating their own loyalty program that does not have monthly fees?
Laurent Nguyen: Merchants will pay the monthly subscription fee equivalent of $1 per user/month to join the Point of Sales service. By being a member of the Point of Sales network, they are offered the Customer Loyalty management free of charge powered by EZToken. Merchants only need to buy EZToken to distribute Loyalty Points for their customers. It works just as effectively for small merchants or large brands. EZPOS now has 10,000 merchants with 4 million active customers using these systems.
Due to the scale of the EZPOS system, it will ensure the popularity and success of EZToken (because everyone can earn EZToken when buying goods or services from merchants). The frequent use of EZToken will drive more customers to merchants. The merchants will benefit more from the Universal Loyalty Program powered by EZToken than setting up their own current loyalty program (which have proved ineffective due to lack of user engagement and low customer incentives)
ICO Alert: EZPOS is using a hybrid architecture by combining a lighting network and a Proof of Stake blockchain similar to Ethereum’s ERC20 token. Is EZPOS creating this? How scalable is this blockchain past the 10,000 merchants already signed up?
Laurent Nguyen: Yes. We are creating the blockchain Ethereum platform over our POS network, based on the ERC20 standard. We will include our server nodes, merchants’ POS devices, mobile phone and any miner servers to enable the exchange of EZToken over the blockchain network. The lightning network will be implemented to operate locally at the merchants node in order to support the instant exchange of Loyalty Points between merchant’s and customers ezWallet. Any transaction of EZToken other than credit Loyalty Points will be validated on the Blockchain network. We are collaborating with the blockchain research Lab in ENS in Paris to develop an advanced protocol which will enable a large scale peer-to-peer network auto-restoration in order to support the scaling up of our blockchain to include hundreds of thousands of merchants operating simultaneously over the network.
ICO Alert: EZPOS has noted that loyalty programs are regressing due to lack of user engagement for these programs. How and why can EZPOS overcome this regression?
Laurent Nguyen: We provide customers liquidity and greater relevance of Loyalty Points because points are freely converted into fiat currencies, points never expire and are spendable via many payment methods, especially in mobile devices.
The existing merchants and active customers will help merchants have the opportunities to reach many more users, offer better promotion programs and activities and maintain high levels of user engagement.
The Ez Marketing Loyalty Platform helps members discover better value and helps merchants engage with customers in a more meaningful and relevant way through a streamlined communications channel
Using blockchain powered by EZToken will maintain transaction records in a secure, trustless, digitized interlinked environment, which will eliminate any inefficiencies.
ICO Alert: Less than 1 month after the ICO is completed your roadmap says public exchange will be added. Do you have exchanges on board to list EZPOS already? If so, do you mind stating which exchanges?
Laurent Nguyen: We already have exchanges on board to list EZToken. We are currently unable to state the name of exchanges due to legal agreement with the exchanges.
ICO Alert: How far along is the project today and when can contributors expect to use the platform? What does the roadmap look like for 2018?
Laurent Nguyen: Please find our product roadmap here or below
ICO Alert: Where do you see Ezpos in the next 3–5 years?
Laurent Nguyen: EZPOS’ target is 100,000 merchants and millions of customers in Southeast Asia and all around the world in 2019–2020. All benefit from the excellent marketing and loyalty services platform. EZPOS firmly believes that EZToken will go with any business cooperatively. Millions of end users will go shopping and enjoy it with the EZToken wallet, through a popular and convenient manner. We hope EZToken will become not only a cryptocurrency, but a real value for customers all around the world.
The pre-ICO began on December 7, 2017 and finished having raised $600,000. There were 1,000,000 EZT tokens sold for $0.60 per token. There were a total of 106 backers who contributed towards the hard cap being reached.
The ICO has three rounds that are as follows:
Jan 1, 2018 to January 7, 2018
$0.85 per EZT
Limited to the next 1 Million tokens.
January 8, 2018 to January 14, 2018
$1 per EZT
Limited to the next 3 Million tokens.
January 15, 2018 to February 4, 2018
$1.2 per EZT
Limited to the next 5 Million tokens
There is a minimum contribution amount of 50 EZT and Bitcoin or Ether are accepted as forms of contribution. There is a hard cap of $5,000,000 that if reached will end the ICO immediately. In order to contribute users must register on the Ezpos website here.
The following bonuses apply for contributors, based on additional actions completed or large amounts contributed:
Token Distribution Information
There are a total of 50,000,000 tokens being created, with 10,000,000 available across the pre-ICO and ICO. The majority of tokens (70%) are reserved for supplying loyalty services. Tokens will be distributed shortly after the final round of the ICO ends.
There are plans for an internal token exchange to launch February 6, 2018 and public exchanges to launch March 1, 2018 according to the ICO roadmap on the Ezpos website. The token bonus distribution is scheduled for March 6, 2018. EZT is a hybrid ERC20 like token architecture that combines a lightning network and Proof of Stake. It is aligned with the newest standard of the Ethereum blockchain. For more information on token tech specifics, please read the whitepaper here (page 22 and 23).
The full allocation of tokens is as follows:
20% (10,000,000): Pre-ICO and ICO
7% (3,500,000): Reserved for founders
70% (35,000,000): Reserved for supplying loyalty services
3% (1,500,000): Reserved for bonus and bounties
Use of ICO Proceeds
50%: Staffing and development
10%: Team incentives
5%: Advisors’ incentives
5%: Legal and finance
Hoa is the CEO of EZ Solution, graduate from Ecole Polytechnique France and has more than 10 years of experience in tech startups. He led the development and provided the core trading system for Kim Long securities — the biggest Vietnamese online trading system. He is also the co-founder of REVER, an online Real Estate trading platform.
Tuan graduated from the Institute of Hanoi, Vietnam and is the ex product leader for the Kim Long securities trading platform. He has 10 years experience in building large scale, high frequency stock trading systems with millions of transactions matching per week. He is now in charge of the product department which has 10 experienced staff members.
Laurent graduated from Ecole Polytechnique France with his PhD. He was a data scientist manager at EY Paris Fance and has more than 10 years of experience in data consulting services for big international corporations. His role is to help EZ Solution build a better data driver business strategy.
Duong is the CTO of EZ Solution and graduated from the University of Sydney, Australia. He has more than 10 years of experience as a project director who led the management and build-out of mission-critical platforms as project director for FPT software. He is now building machine learning and AI technologies underlying the POS system. He leads the engineering department with 30 experienced developers.
For a full list of team members please visit the Ezpos website.
View the Ezpos Website here.
View the only comprehensive list of active and upcoming ICOs here.
(1) Ezpos Website, Ezpos, (2017)
(2) Ezpos Whitepaper, Ezpos, (2017)