Thanks all for participating in our Amepay AMA. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this blog post is for you.
Mayank – Hello @kamal_v welcome to CryptoNationIN 😃
Kamalakannan – Hi community glad to be here for the AMA.
Mayank – Before we start, could you please tell about yourself to the community.
Kamalakannan – Myself Kamalakannan Venkatraman, Co-Founder & COO of AMEPAY.
Mayank – Can you please explain what AMEPAY project is all about?
Kamalakannan – AMEPAY is a cryptocurrency-based payments alternative that is fast, convenient and secure. We Digitalize the world & connect crypto market with Retail and F & B industry through AMEPAY wallet and Cloud AMEPOS Software.
Mayank – Great 👍🏻
Q1. Which part of the project are you most focused on right now? What is the current $AME revenue model? where can I buy $AME Tokens? and Can I buy them with a visa / Mastercard?
Kamalakannan – AMEPAY is more focused on listing AME in top 3 exchanges. Currently AME is listed in BKEX exchange and on 7th January AME is getting listed in Bithumb Global. AME revenue comes from the Subscription of Cloud PoS Software.
AME tokens can be bought in BKEX exchange and from 7th onwards AME can be bought in Bithumb Global. There are options to buy AME with credit/debit cards from Exchanges.
Q2. What is your plans in place for global expansion, are AMEPAY focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this?
Kamalakannan – AMEPAY is focused on bringing 5+ Million Merchants into its Payment system. We have Merchants/ Customers in 8 countries already and AMEPAY has business operation in 5 countries. We have 2500+ Merchants using our Tech currently. We are partnering with leading payment houses for getting new Merchants through the partnership deal.
The Blockchain based Cloud PoS is completely developed and we are looking to on-board new Merchants globally.
Q3. Revenue is an important aspect for all projects in order to survive and keep the project / company up and running. What is AMEPAY way of generating profit / revenue? What is the income model?
Kamalakannan – AMEPAY has two revenue streams.
1) Getting subscription of $20 from a Merchant per month for providing Cloud Point of Sale AMEPOS software + E-commerce website + AMEPAY payment integration.
2) Getting profits from transaction costs.
AME tokens will be bought back from the 20% Revenue generated every quarter and burned. We want to keep the circulation to 250 Million in the market.
We will generate revenue of $25 Million from 2022 and the Revenue increases based on the acquisition of Merchants globally.
Q4. $AME is build on Ethereum blockchain which have huge gas fees and low transaction speed. Will there be any change on blockchain in future?Can we expect a blockchain of AMEPAY itself in future?
Kamalakannan – AMEPAY has developed own Blockchain and we will be migrated from ERC-20 to own chain in Q1 2021. This will solve the issues in transaction costs and the time.
AMEPAY own chain can process 300,000 transactions per second.
Q5. What will be the advantages of investing in AMEPAY and why do you use PoS software and infrastructure?
Kamalakannan – AMEPOS is an advanced Point of Sale (PoS) software built on Cloud. We are integrating this Software with own Blockchain for making payments simple and fast. We are incentivizing the Merchants & Consumers in our ecosystem on every transaction.
AMEPAY is revolutionizing the Payments in Retail and F&B sector and hence the utility is more. Investors can buy AME in Bkex & Bithumb Global Exchanges and have it for transactions and short term investors can hold for few days and sell when we announce listing in top 3 Exchange by February.
Q6. I am a crypto investor and I only care about prospect of a crypto that I chose, tell me the reason why I should choose your project over the existing one ? What is your coin advantage that can convince me to change from my favorite token ?
Kamalakannan – AME has a real time utility in Retail and F&B industry..Currently AMEPAY payment system is integrated with 2500+ Merchants globally and before 2021 we will onboard 1+ Million Merchants. We are here to Revolutionize the Payment industry through our Cloud PoS and own chain.
Q7. Which one of these aspects important for you?
A-Increasing Token Price&Value
B-Empowering Platform Development
C-Building Community Trust
D-Expanding Partnership Globally
Kamalakannan – All…our team is working hard 24*7 in achieving all of the above…we have already achieved some and still working on it.
Q8. Security is really important and valued by users these days. Would you mention #AMEPAY security measures? How is it protected against any hacking attempt, and in case it succeeds, is there insurance for investors?
Kamalakannan – Yes AMEPAY is highly secured and we have three layer security embedded.. We can’t be hacked and in case it succeeds our investors are protected….
Q9. The use and support of your token is very important to built a strong ecomomic enviorement, so can you explain what are your strategies to increase your demand? The $Amepay will use an deflationary or Burnt mechanism?
Kamalakannan – We have restricted our circulating supply to 250 Million AME and bringing in more utility globally will increase the demand very organically.
As mentioned in Q and A – 20% of our revenues in each quarter will by used to buyback the tokens and burning it…
Q10. On the topic of the need to increase the value of the token or reduce market capitalization, will the AMEPAY Ecosystem accommodate a BuyBack/Token burn mechanism after the token sale or in the near future?
Kamalakannan – Yes explained.
Q11. Smart contracts are prone to bugs, How efficient and secure is your smart contract. Have you ever been audited through external parties, so we are sure that this project is safe and good for the future of investors?
Kamalakannan – Our chain is very safe and yes it is audited. We are deeply focussed on the investors safety…
Holding AME and Staking in our network for few months will wonders for the investors as many partnerships with leading payment houses be announced this quarter..
AME listing in one of the top 3 exchanges by Feb 2021.
Q12. There are 3 core issues prevalent in crypto and blockchain: Security, Interoperability, and Scalability. so, how does Your Project plan to overcome these issues?
Kamalakannan – Our chain is highly secured and largely scalable. Release of our tech is the important achievement.
We have a product which provides the Merchants with Cloud AMEPOS + E-commerce website + AMEPAY Payment system integration.
We are now integrating our tech with existing Merchants of 2500+ and expanding to 1+ Million Merchants globally
Q13. Are you a global project or local project? Can anybody anywhere use Your project without any restrictions?
Kamalakannan – We are a global project..Any body from any corner of the world can use our tech as we are cloud based….
Q14. Smart contracts are one of the vital objects of security, how about smart contracts at AME PAY have they been audited by internal or external parties then how ready is your platform to respond to these conditions?
Kamalakannan – AMEPAY own chain is highly secured and audited by external parties…
1) Cloud PoS integrated payment system
2) Transaction speed (300,000 TPS)
3) Instant settlements for Merchants in Fiat currencies
Q15. AMEPAY claims to solve some of the current blockchain platform issues, some about transaction fees and give cashback on transactions made.Can you explain the AMEPAY technology that makes you confidence to compete?
Kamalakannan – AMEPAY tech is highly scalable and into mass adoption due to the incentives and Rewards in the ecosystem.
Moreover we are in Retail and can see Millions of transactions in own chain…
Q16. What are the types of users on your project? How do you keep all users to stay with your project for the longterm?
Kamalakannan – Merchants, Consumers and Payment Partners use AMEPAY Payment system. Strong utility of AME, limited circulating supply will lead to huge demand and all users will hold for long time
Q17. Does the price of the token matter to you from an operational perspective, if the token price is $1 or $100?
Kamalakannan – No..We have a strong revenue model for the business apart from the tokenomics.. Our business is already in existence for more than 4+ years…
We need the community to know about the revolutionary payment system AMEPAY.
Q18. How does AMEPAY increase the value, liquidity and utility of tokens? So that it can lead to an increase in token prices? What is your plan to make your project stable and provide the highest return for investors in the long term?
Kamalakannan – We are already listed in Bkex exchange…We did IEO and raised $1 million USDT in few minutes..
The IEO price was $0.02 and now currently trading at $0.03. We are getting listed in Bithumb Global on 7th January 2021 (Tomorrow). Listing on Top 3 exchange by Feb 2021.
Q19. What is total supply ? Are your plans to focus on market or to grow community?
Kamalakannan – Total supply is 1.5 Billion and the circulating supply is restricted to 250 Million.
Thank you to Kamalakannan Venkatraman (Co-founder & COO) and Community for participating in the AMA. Have a nice day.