Redemption Technologies is a platform that allows a cryptocurrency holder to finally be able to spend cryptocurrency at local merchants for everyday purchases like dinner or a movie, even if the merchant does not want to be paid in a cryptocurrency, all while still remaining anonymous.
Stephen Paglianite, CEO of Redemption Technologies, is a serial entrepreneur and has launched and advised multiple multi-million-dollar startups in the last 17 years. Stephen is currently also the CEO of ManageMySite Inc., which develops and maintains web properties and mobile applications. Stephen gives us a quick overview of the Redemption crypto project in this interview
1) What motivated you to create the Redemption.Cloud,? What void in the market do you see it filling?
Even though Bitcoin has been around for over 8 years, it is still almost impossible to buy something from a local merchant, we want to fulfil the dream of cryptocurrencies and allow them to be treated as cash, without having to reveal our identity to merchants or banks and as a result keep us free from security breaches and identity theft.
2) How are you different from the rest of the market?
Right now local merchants don’t want to accept cryptocurrencies due to complexities they feel are involved, our system eliminates wallets and makes transactions as simple as a push of a button. Some solutions to this problem like crypto credit cards do exist, but they all require user identifiable information like social security numbers or some other user identifiable information, leaving them at risk.
3) What is the purpose of the Blockchain in Redemption.Cloud and what is the role of decentralization in it?
The REDEEM platform allows decentralized currencies to be freely and anonymously used and actually transferred into a real tangible item, in addition, the biggest struggle the blockchain is dealing with is most governments anti-crypto views. The reason why governments view cryptocurrencies negatively is because they can not collect taxes on transactions. Redemption Technologies eliminates this conflict. The REDEEM platform allows merchants to pay taxes on sales because they are paid in a fiat currency for the purchases users make, even though the user paid in a cryptocurrency.
4) REDEEM token sale is expected to begin soon. How much money are you looking to get?
The REDEEM platform is not just a dream like most other ICO’s, we are already 90% developed, so we are not looking to raise a lot of money, our main goal is to get our name out there so that crypto users will know that a solution to their problem exists. Our maximum raise is only 10,000 ETH, this will allow us to get the last 10% of the platform developed.
5) How do you see Redemption.Cloud project running after it completes its token sale? What is the timeline for coming to market?
We are already 90% developed, after the token sale completes we will complete the last 10% of the platform development and start testing with our integration partner and their mobile application. After that, we will release the software free and open source so that all mobile app developers can use our software without any fees to increase their sales.
6) What makes your project exciting for ICO participants?
We are going to fulfill the dream of cryptocurrencies and make them easily redeemable for products and services at local merchants so that everyone can finally use cryptocurrencies in their everyday life.
7) Tell us about the conditions for participation in the Token Sale.
Specific terms and conditions can be found by downloading our whitepaper on our website.
8) How will people purchase your token?
During our Crowdsale, participants may purchase Redeem Tokens (DEEM) by sending Ether to the smart contract address published on the homepage of https://Redemption.Cloud
9) Tell us about your team? Why should someone believe in your team?
Our team has been developing applications and software for over 20 years and we have been pioneers in the IT industry.
10) Are you focused in any specific geographic areas?
No, we want to change the entire world and we will be providing the REDEEM platform and our open source technologies worldwide.
11) Is there anything I didn’t mention or ask that you want to share?
I would just like to point out that Redemption Technologies is not like other ICO’s, we are an already existing company with our product already in development. We are not trying to raise an irresponsible amount of ETH like most other companies and as a result we are only offering a small amount of tokens to the public in our crowdsale. We are allowing a very small 10,000 ETH maximum raise simply because we want to allow some of the blockchain community to acquire our tokens to further our exposure to the community, but we do not need a large amount of ETH to make it to product completion stage.