[ANN][ICO] ⚡ ZEEX ⚡ ⚡ CRYPTO TO PRODUCT ⚡ NO FIAT, NO FEES ⚡

[babayaga92]

If there is no mining since this is premined erc 20 token, how is verification done?

It's done within the smart contract.  Smart contracts only have two possible outcomes: everything went OK, or something went wrong.  If everything went OK, no need for further verification.  If something went wrong, everything goes back to square one and no transaction is sent.  Either way there's no need to mine. **** (ERC20 tokens support smart contracts and themselves don't need to be mined because the mining happens on Ethereum)

 

[Howard Roark]

Are there any plans to cover windows phone too,when it comes to app?

Not really but you will still be able to use the web app shortly after the end of the token sale

[TashBLIL]

it's sounds great but as far as i see it's just still in concept. there is still no project which public can see. and you already claim that such as amazon and playstation will accept this for buying products on their platform???   seriously?  where i can find any statement to prove this claim??

Well we all know Amazon accepts Amazon gift cards, Playstation accepts Playstation gift cards, Footlocker accepts Footlocker gift cards etc...

With Zeex you can use your crypto to purchase gift cards and spend them with retailers without any fees or converting to fiat! Zeex already has a working prototype and the platform will be released shortly after the token distribution is finished. You can read more about Zeex's plans at https://www.zeex.me/

[Howard Roark]

Does anybody know what wallets are compatible with ZIX?

It is an ERC20 coin so it will be compatible with any wallet that holds Eth such as My Ether Wallet and of course hardware wallets such as the Nano S.

[ZeexICO]

Is this something like a payment platform similar to PayPal, which is exclusively focusing on allowing crypto payments to obtain products?

We focus on enabling purchase of products and services with crypto by connecting virtual gift cards and cryptocurrencies, so that you can instantly exchange your ETH for Starbucks gift cards and buy your coffee without fiat or fees!

Ok but someone said it will be anonymous. Is that true and if yes, how are you going to deal with compliance issues as a payment provider? You can't get away from it because ultimately you want merchants to also be connected to the system right?

We absolutely want merchants connected to the system, but we don't have any compliance issues because we allow any merchant to sell to any person and vice versa, anyone can use the protocol.  Because of the anonymity and decentralized nature, the only way it can possibly work is for the users to responsibly report their own activity to the authorities.  Zeex simply doesn't have any information that it would need to report. 

I see and if it turns out that your platform is used for illegal activities, for example selling forbidden products, could anyone be held liable? Could you guys be attacked?

Zeex utilises staking to make unscrupulous behaviour expensive and unrewarding. With regards to individuals, as a decentralised protocol, Zeex has no knowledge of or liability for individual users’ activity.

Who will be able to decide what is considered unscrupulous or not? Will there be something like a platform police who also has to have a certain amount of tokens in order to have financial interest in stability of the platform?

That is a goof question. But I thought that only verified brands will be able to use the platform.

. Initially it will only be verified brands on the selling side, but eventually anyone will be able to sell.  To ensure everyone does what they're supposed to we take a deposit for the duration of the risk period.  Check out my latest article on exactly this topic!  https://medium.com/the-zeex-protocol/staking-your-claim-with-zix-c7c6d1aa2cb3

[Howard Roark]

Will you have masternode ?

No masternodes at this stage, but it is something that we will definitely consider later on

[Howard Roark]

Does Zeex have a plan to prevent pump & dump and price manipulation after the token sale?

We as a company cannot discuss price or trading as ZIX is a utility token, not a security token, but in general, due to the decentralized nature of the application, it is impossible for the company to prevent users from performing actions. The company will hold 10% of tokens in escrow and the core team members will be restricted from flooding the market with their tokens as well.

[ZeexICO]

When does the platform launch?

. The platform will launch a couple of weeks after the ICO concludes!

[ZeexICO]

Does Zeex have a plan to prevent pump & dump and price manipulation after the token sale?

thats crypto for ya its not regulated so anything is possible which is fine, just gotta keep an eye on the charts!

So we're doing a couple of things.  First, we're going through the Bancor liquidity network to make it as easy as possible for people to access ZIX rather than go directly to exchanges.  Second, we're holding 10% of the total tokens in escrow for at least 2 years and the team's tokens are locked up too.  On the other hand, to some degree you're right that there's nothing to stop someone with $1B or so manipulating whatever currency they want in this market.  We are a utility token, not a security token, so we're focused on ensuring the token fulfills its purpose, or its utility, rather than how expensive it becomes.

[Howard Roark]

When does the platform launch?

The web app will be launched shortly after the token sale, you can see view our  roadmap here

https://www.zeex.me/index.html#roadmap

[ZeexICO]

Is this something like a payment platform similar to PayPal, which is exclusively focusing on allowing crypto payments to obtain products?

We focus on enabling purchase of products and services with crypto by connecting virtual gift cards and cryptocurrencies, so that you can instantly exchange your ETH for Starbucks gift cards and buy your coffee without fiat or fees!

Ok but someone said it will be anonymous. Is that true and if yes, how are you going to deal with compliance issues as a payment provider? You can't get away from it because ultimately you want merchants to also be connected to the system right?

We absolutely want merchants connected to the system, but we don't have any compliance issues because we allow any merchant to sell to any person and vice versa, anyone can use the protocol.  Because of the anonymity and decentralized nature, the only way it can possibly work is for the users to responsibly report their own activity to the authorities.  Zeex simply doesn't have any information that it would need to report. 

I see and if it turns out that your platform is used for illegal activities, for example selling forbidden products, could anyone be held liable? Could you guys be attacked?

Zeex utilises staking to make unscrupulous behaviour expensive and unrewarding. With regards to individuals, as a decentralised protocol, Zeex has no knowledge of or liability for individual users’ activity.

Who will be able to decide what is considered unscrupulous or not? Will there be something like a platform police who also has to have a certain amount of tokens in order to have financial interest in stability of the platform?

. The unscrupulous behaviour in question in generally double spending.  If you're using Ethereum, the period in which a transaction is reversible is about 10 minutes (6 confirmations).  After that it's impossible to recover funds, so the Zeex protocol holds a deposit or stake for the duration of the risk period (10 minutes with ETH, about an hour with BTC) equal to the risked amount. 
For example, if you want to buy $100 of Amazon credit, you would need to deposit $100 in ZIX and then pay $100 in ZIX or ETH.  After 10 minutes, your deposit is usable again for whatever you'd like.  If you don't want to or can't stake a large amount but need to make a large purchase, you can do so in sequential transactions.  Say you want to buy $1000 of Amazon credit but you've only got $1100.  Simply tell the system to buy the credit sequentially, and in about an hour and a half you'll have your $1000 in Amazon and $100 ZIX deposit back! 
The thing is, because the transaction amount is always equal to the pledged amount, it's simply not profitable to double spend anything, it would just even out really. 

[YanivBLIL]

So there'll be no fees at all?

Hi Tupakk, thanks for your question. As a user, the only fees you will experience are network fees related to the execution of the smart contract (aka gas). Zeex itself does not charge any fee for conversion. Crypto to product, no fiat, no fees!
https://medium.com/the-zeex-protocol/zeex-crypto-to-product-no-fiat-no-fees-872602f1faa3

[YanivBLIL]

I see in your roadmap you plan to expand on other markets. What markets would that be?

Due to the strong network of our sister company Zeek, we will have a big base from day one. As far as expansion, all are welcome to use the Zeex protocol, and we plan on adding numerous other large distributors like Zeex from various locations around the world, so you’ll be able to spend your money anywhere! Stay tuned, we will be announcing them soon 

[YanivBLIL]

Will the campaign generosity for marketing purposes?
Also wondering if you have any plans to launch Android apps?

Hi Levontres, I don’t quite understand your first question, if you could rephrase it that would be helpful.
With regards to the Android app, we are planning to launch it in Q3 of this year 

[YanivBLIL]

Hi, what wallets are compatibile with ZIX?

I think any erc 20 wallet will be good, like mew or metamask

ZIX or ZEEX? does they develop own wallet?

Hi ekurtovic, great questions!

1. Zeex is the name of the protocol, and ZIX is the name of the token (which is needed to use the protocol). For more info, have a read of this medium article, https://medium.com/the-zeex-protocol/why-does-zeex-need-zix-8ad243aaae60, or check out our Whitepaper at www.Zeex.me

2. Yes, there will be a wallet as part of the protocol, where you can keep your ZIX and other cryptocurrencies until you are ready to spend them.

[YanivBLIL]

When does the platform launch?

. The platform will launch a couple of weeks after the ICO concludes!

do you have already some retailers ready?

Absolutely! Our sister company Zeek already has many retailers from around the world (including Amazon, Starbucks, and many others), and these will be available from day one! (You can see some more at www.zeek.me)

In addition, we will soon be adding many more large token distributors like Zeek to give users access to even more retailers 

[YanivBLIL]

Hi, what wallets are compatibile with ZIX?

I think any erc 20 wallet will be good, like mew or metamask

ZIX or ZEEX? does they develop own wallet?

Hi ekurtovic, great questions!

1. Zeex is the name of the protocol, and ZIX is the name of the token (which is needed to use the protocol). For more info, have a read of this medium article, https://medium.com/the-zeex-protocol/why-does-zeex-need-zix-8ad243aaae60, or check out our Whitepaper at www.Zeex.me

2. Yes, there will be a wallet as part of the protocol, where you can keep your ZIX and other cryptocurrencies until you are ready to spend them.

Will there be a limit to how many cryptocurrencies can be stored?

Initially, Zeex will support ZIX and ETH, with more to come. ZIX will also be a part of Bancor's liquidity network from day one.

[YanivBLIL]

Does Zeex have a plan to prevent pump & dump and price manipulation after the token sale?

We as a company cannot discuss price or trading as ZIX is a utility token, not a security token, but in general, due to the decentralized nature of the application, it is impossible for the company to prevent users from performing actions. The company will hold 10% of tokens in escrow and the core team members will be restricted from flooding the market with their tokens as well.

is there some limitation in ICO buying because of this, pump & dump?

Apart from the limitation of KYC, there will be a limit per investor. The limit will be announced closer to the Public Sale.

[TashBLIL]

Does Zeex have a plan to prevent pump & dump and price manipulation after the token sale?

thats crypto for ya its not regulated so anything is possible which is fine, just gotta keep an eye on the charts!

So we're doing a couple of things.  First, we're going through the Bancor liquidity network to make it as easy as possible for people to access ZIX rather than go directly to exchanges.  Second, we're holding 10% of the total tokens in escrow for at least 2 years and the team's tokens are locked up too.  On the other hand, to some degree you're right that there's nothing to stop someone with $1B or so manipulating whatever currency they want in this market.  We are a utility token, not a security token, so we're focused on ensuring the token fulfills its purpose, or its utility, rather than how expensive it becomes.

For how long are team tokens locked?

The Zeex team's tokens will be locked for 3 years.

[TashBLIL]

Why did Zeex choose to use the Ethereum network rather than another network like QTUM?

The Ethereum network is the most trusted and established network available today and also has a great deal of flexibility! This is the reason Zeex decided to build on Ethereum's blockchain