Electroneum CEO, Richard Ells, Discusses Ecosystem Growth, DeFi, Liquidity, and Expansion in an Exclusive Interview
Electroneum, a cryptocurrency project based in the UK, has been making waves since its launch in 2017. The project focuses on online payments and has introduced various apps and software to the public, including AnyTask and its flagship app for micropayments.
In a recent interview with Coinfomania, Electroneum CEO Richard Ells discussed the benefits of the AnyTask platform, the adoption of the M1 phone, and his thoughts on the booming DeFi sector. He also provided updates on the Binance listing process, efforts to boost ETN liquidity, and potential expansion into the Asian market.
AnyTask is a platform that allows the unbanked population to access the global digital economy without the need for third-party fees or bank accounts. Freelancers receive payment in the form of ETN tokens, introducing many people to the world of crypto. Ells believes that AnyTask has the potential to be one of the most exciting things in the crypto industry, even surpassing projects like Ethereum and Bitcoin.
Ells also discussed the negative portrayal of cryptocurrency in the media, with over 80% of crypto-related articles focusing on how criminals use digital currencies. By showcasing the positive aspects of digital currencies through micropayments with AnyTask, Electroneum aims to change public perception.
Regarding the M1 phone, Ells acknowledged that the COVID-19 pandemic and regulatory requirements have limited its adoption. However, Electroneum plans to ship the remaining phones as soon as travel conditions return to normal. The lessons learned from this foray into the smartphone market will inform the development of the M1 2.0, which may launch next year.
When it comes to DeFi, Ells expressed caution due to the risks involved. He believes it is better to wait until the hype settles before getting involved. However, Electroneum is open to providing liquidity for DeFi pools and is exploring the creation of a wrapped ETN contract for use in DeFi protocols.
As for the Binance listing, Electroneum has met the user mark requirement but is still awaiting approval. The delay is due to a new section added to the application, requiring a legal opinion. Electroneum is in the process of providing the necessary information and expects to complete it within a week or two.
To boost ETN liquidity, Electroneum is focused on adding underlying value to its coin and cultivating a community of people who appreciate the project. The company is also actively seeking partnerships with influencers, news outlets, and media platforms to increase visibility.
Regarding Asian market expansion, Electroneum is considering it but faces liquidity challenges. However, the project has secured a listing on a South Korean crypto exchange and is actively recruiting developers for API integrations and partnerships.
In conclusion, Electroneum is making significant strides in the crypto industry with its innovative platforms and products. The company is focused on providing value to its users, increasing liquidity, and exploring new markets for expansion.
