Hi folks,
Thanh’s here,
We had a rough time in the last few days with the Nexty price as Nexty’s price has fallen sharply compared to its stability in the previous months, in addition the crypto market was also stumbling at a very difficult period. Many projects fell to only one tenth of the price compared to the time of the ICO.
As the Chief Technical Officer and the co-founder of Nexty project, as well as investors, I understand your anxieties along with what you are going through in this market. I also noted the criticisms and tough words from different members of the community to the development team and support team.
However, I want you to understand that even though the crypto market is under severe strain, we remain faithful to the project, and will seek different ways for us to overcome this difficulty together.
Furthermore, I want to tell you about Nexty’s vision in the near future.
There’s a story I just heard recently, but in fact it’s been going on for quite some time, 20 years ago, even though it’s still going on in some places. When we travel abroad, we have to exchange from our inland money to the local currency. The process is cumbersome, which requires you to go to the service of money exchange, as well as spend a small exchange fee from 3 to 7%.
Fortunately, a few years later, people were able to use credit cards widely in many countries, so exchanging the currency would reduce the pressure but not reduce the exchange costs. It also raised concerns about the security of credit card data.
Such payments are gradually improving, and it really enhances the user experience in a convenient and cost-effective manner.
The recent use of Cryptocurrency makes it easier to convert currencies across borders. Many stores even accept Bitcoin or Ethereum as a payment method, but it has some flaws. Imagine this, you go to a cafe to order a cup of coffee for $2. The equivalent conversion value at October 2018 is 0.000308 BTC and you have to wait 30–40 minutes for the café to receive your payment.
Also, there were times when the transaction could costs up to 36 USD for a transaction with BTC. Now, the transaction fee is not as high — from $ 0.15 to $ 0.2, but is it worth it for 10% additional in price, not to mention the potential inflation if the transaction volume increase?
Back to Nexty, can our platform solve the problems mentioned above? With the existing features, users find it so easy when buying a cup of coffee without having to think of transaction time — almost instantaneous, with zero transaction fees.
NTY can be used in any country that accepts Cryptocurrency as payments. Not only Nexty has a smart contract, but many other crypto currencies also can be created on the Nexty platform and inherited all the features from it. This contributes to establishment of an ecosystem in micropayment, including ecommerce and retail. It helps projects in these areas to make a smooth transition.
Moreover, in the future when the swap solution is implemented, we may even be able to move BTC, ETH into the blockchain of Nexty to use the features mentioned above.
What do we have at hand? Technology is constantly developing, and ecosystems are under construction. We have members and investors who have faith and persevere with their beliefs. I am looking forward to working together to overcome this difficult time by believing in us, while we implement plans to expand our users and investors base of Nexty’s platform. By striving to bring Nexty to the top exchange, focusing on social networking, participating in blockchain events as well as micropayment, ecommerce, retail, and listening current investor’s ideas, I believe Nexty will become widespread, thus creates a lot of demand for NTY in the future.
As part of the plan to bring NTY out of its current situation, we propose the following plans for the next two months:
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Listing announcement from Oex (from 25–28th October)
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Change smart staking rate (from 25th)
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Working to list on Coinall — a strategic partner with Okex so that we have chance to list on Okex (within 3 weeks to be listed on Coinall)
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Enhance the price performance with some assistance from you in our community:
- Announcement that we need help from community to focus on Coinall and attain good trading performance on Coinall with purpose to be listed on Okex
- Announcement for the proposed 6 Billion coin burning in 11/20/2018
- preparation for the SNS campaign to attract new investors from 11/01/2018
- Assistance from community to hold the price to 0.6 won within a week (to be announced)
- Increase 7-day smart staking rate to 3% (to be announced)
- Run SNS campaign to attract more new investors (11/15/2018)
- Find more VC to sell 10 Billion NTY — this amount will be used for future big exchange listing, build ecosystems (November 2018 to January 2019)
And finally, I sincerely hope that Nexty will still get the great support from the community to strengthen us in the long run!
Thank you and Best regards,
- Thanh Dao
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