Extremely elated on the occasion of launching EMOCOIN, the first Crypto Coin combined with Utility Services in India, Sachiin Sharma, Marketing Head (South East Asia EMO DAO) said in a press statement that EMOCOIN is the future of digital currency. While he released the EMOPAY ROADMAP, he emphasized that EMOCOIN is true democratization of Digital Currency which will empower individuals to participate in a Decentralized Economy enabling people and businesses to conduct trustless, anonymous, and secure transactions globally built on the cutting edge blockchain, cryptography and peer-to-peer technology. Explaining the roadmap further, Sachiin Sharma said that the Emocoin ecosystem will allow users to have access to countless products and services that any individual requires in his daily life including Crypto Wallets, Currency Swap, Web Browser, Exchange, Staking, Loans, Payment Gateways, Retails, Entertainments, Healthcare and many more. Emocoin a futuristic digital product of EMO DAO with the brand name EMOPAY is set to attract smart people to have a smooth ride in the digital financial world.
As a first, EMOPAY is the latest potential crypto coin. Counting the benefits, Sachiin Sharma said that Emocoin has no third-party risks; it is transparent, quick, and smooth; it does not necessitate any need for capital reserve; it has a secure deposit management and on top of all it has automatic execution of terms with no mediators. Being asked about the services that will be associated with Emocoin, Sachiin replied that major sectors are Education, E-Commerce, Real Estate, Travel, and Healthcare besides many others.
As far as the investors are concerned, Emocoin staking is going to be a magnificent way to increase an investor’s investment that would be sitting in his wallet. Once an investor has staked his Emocoin, he can earn staking rewards on top of his investments and grow them further by compounding those future rewards smartly. Speaking further he said Emo staking is very simple and accessible with the smallest of investment and anyone can start the program by investing only 500 EMOs which will add extra security to the system. The investors will surely be rewarded based on their tenure. Staked EMO can be used to provide loans to borrowers and help generate income for lenders creating a revolution in the financial market.
“In fact, Emocoin is an upgrade that will include the addition of smart contracts to the Emocoin blockchain using the Chain Key cryptography, technology that removes the need to use a bridge,” Sachiin said in the press statement.
Recalling the journey of Emocoin he said that the development of the EMO Wallet began during September-December, 2021 when Victoria (Mascot) was launched. During the same period EMO Pay i.e., Third Party payment Gateway Integration API, began.
Focusing on the new Roadmap, Sachiin Sharma enthusiastically explained the plans. As per the new Roadmap, EMO DAO is soon going to launch in May 2022 the facility of Recharge of Prepaid Mobile and DTH services in India. He was extremely happy to share that the very first Test Trial would be conducted in India. Come June and you will find EmoSwap, a peer-to-peer buy/sell facility and launch of the EmoPay Android Mobile App. July 2022 will see booking of flights, hotels, buses, rails, fastags, and metro cards along with LUCKY-7 an interesting game. With the onset of monsoon, pre-sales will start for EmoValley, a Decentralised Mixed Reality Real Estate Project. Followed by this to amuse the Emocoin Owners, Emo Poker Game will be launched in September 2022. EMO DAO is set to launch EMO Swap (Exchange) and NFT Marketplace and work in this direction is in full swing. This is going to be another futuristic burst that may take the investors by awe.
Quarter beginning from October 2022 shall see Gift Coupons Purchase like Amazon or Flipkart gift coupons, and believe it, it will be another revolution in the digital world.
Sachiin said that they are taking the Emocoin to such levels where no exchange would be required. Terming this Roadmap as a 6-month roadmap, he said that the onslaught of the next half of 2023 is bound to see Blockchain by EMO DAO.
Before talking on the 2023 plans, Sachiin said that his company believed in bringing 100% utilization of the currency that empowers all of our products and services to bring credibility, accountability, agility, and freedom to Emocoin owners who will be empowered to participate in the decentralized economies.
“All transactions carried out in the near future in all our portfolios will be through Emocoin, directly or indirectly. We will be working for continuous innovation and development to strengthen this link and it will help us to connect with our users and growth of the ecosystem” said a confident Sachiin Sharma. Speaking again on EMO Staking he clarified that Staking in Emobank is a program that includes purchasing and freezing EMO in the system for specific tenure where participants will be remunerated by Earning EMOs according to their staking tenure. He further stated that by freezing these coins, the participants will become a part of the organisation’s security framework and support in the development of the project, and increasing the price valuation of the currency. The freezed EMO in the staking program will be utilized in giving loans to the borrowers and generating income for lenders, he reiterated.
Sachiin invited investors who have cryptocurrency lying around to utilize it and make more. He advised them to lend the same to borrowers globally with ‘borderless lending’ and get higher returns than typical bank deposits peer-to-peer lending free from geographic and economic constraints.
Highlighting the EMO Lending Platform, he said that it is an online stage that permits investors to loan their crypto in return for interest mutually agreed between borrowers and lenders in a ‘Smart Contract’. Explaining it further he said that borrowers that need actual cash, for example, USD or EUR, that will take credit through these stages in return for interest. Similarly, he said, that loan specialists, normally called financial backers, that have some crypto lying around might want to produce easy revenue from it.
While concluding, Sachiin Sharma said that the biggest challenge in the financial sector is a Lack of Trust. With banking organizations being extra stringent in their lending procedure, time, costs, and hassles of obtaining a loan are forcing consumers to marketplace lending. He said that borrowers face high costs, complex procedures, lengthy approvals process, access to information, storage of personal data, trustworthiness, access to funds, lack of transparency, and strict lending criteria.
“It is time to listen to the consumer, appreciate their needs, empathise with their concerns, and address them with SMART Goals. If we use the research available to us, adopt the latest technology, and combine the passion with innovation, we can create a suite and service to better cater to consumer demands. By bringing the core function of finance on the blockchain we can vastly improve and future proof services, with the help of smart contract” said Sachiin calling it a huge opportunity.