Interview with Elo Network
We have recently interviewed Mohammed Bafaqih, Co-Founder and Director of Operations, who presented at our event on 21 July 2018.
Q1. You describe Elo Network as “a mobile platform for interactive on-car advertising developed on the decentralized blockchain technology”. Would you elaborate on the idea behind your project and the pain point you’re trying to address? And what’s “wrong” with traditional advertising?
Elo Network is building a platform that will enable brands and ordinary drivers to connect and benefit from each other.
Today, popular brands use expensive methods of out of home advertising like billboards that are static and have limited reach. On the other hand, car owners suffer from ever increasing gas and maintenance costs.
Elo Network is empowering ordinary people to make money with their existing resources. Anyone in the world who owns a vehicle is a prospective Elo user.
Q2. What is your go-to-market strategy? How are you planning to attract the brands? …and the drivers? Have you already enlisted brands?
We have been working tirelessly on the product development and market research for the past eight months. We have been in talks with more than 15 internationally known brands and have signed up MOUs with them. Once Elo goes live, we will see a huge demand from brands to partner up with Elo and utilise our disruptive platform.
Q3. You say that your token can be earned as you drive. Can you describe how exactly this happens?
A user installs the Elo app, registers and signs up for a brand campaign. The user gets the sticker and puts it on their car. This sticker comes with a beacon that connects with the installed app, and every time the driver drives the car, the app calculates the total number of miles driven. Payouts to the drivers are based on the their total driven miles.
Q4. Elo Network is built on blockchain which uses zero knowledge proofs. Why does Elo have to use ZK and how would you explain ZK to a layperson?
The zero knowledge proof protocol enables the user to conceal his or her identity while still sharing the required data with the other party. Elo is using ZKsnarks to ensure user data is kept private while brands receive actionable insights.
Q5. What are some of the milestones for your project in future? What are you working on?
We are currently finalising partnerships and signing up brands.
Q6. Please share with our community the most important details about your upcoming ICO.
Currently Elo Network is at the Private Presale Stage and will be going for crowd sale in Q4 2018. We plan to go live in Q1 2019 where users will be able to download a working app and utilise our platform to make money. You can visit our website to learn more about the project at www.Elo.netwok
We wish you the best of luck with your project and hope to see Elo advertising soon in major cities in Asia and the Middle East.