Interview with Dave Mallet from JSEcoin

What will you do with the money? What makes you different from many others is that you already have a ready product/service.

We felt that having a working product was really important to help create confidence in investors/users. Generally ICO's are performed on a whitepaper and marketing team, and with a lot of scam ICO's taking place we were keen to show that we have long term goals for the project.

The first big investment of the funds raised will be to list on exchanges. It is crucial that this is the next step to create liquidity for the tokens. We feel that this will encourage webmasters to use JSEcoin to monetize their content, as well as install our merchant tools enabling them to accept JSE tokens as payment for their goods and services. Exchange listing fees are increasing all the time and the specific exchanges targeted will largely depend on the success of the ICO.

We will also continue to build an outstanding team committed to further development of the platform, and future use cases of the token in order to try and reach mainstream adoption. Whilst we have a great working product, there is still a huge amount of development and marketing required to continue to move the project forwards.

On top of this there are also general business costs such as offices, servers etc.

What differentiates you from services like coinwebmining.com and coinhive?

The biggest differences are the transparency with which we operate and the minimal impact on a visitors browsing experience. The JSEcoin mining platform was live about a month before coinhive appeared, and even back then we always let site visitors know that mining was taking place. We felt that hiding anything in the background would cause a lack of trust and prevent browser mining becoming accepted as a viable long term method to monetize a website.

We worked closely with a number of major anti-virus companies and decided to introduce a fully opt-in only system putting the site visitor in complete control. A lot of feedback we received was that people were happy to allow mining to take place instead of the page being littere with ads, but they wanted to know it was happening and have the chance to opt out.

Similarly we felt that for browser mining to be sustainable it had to be economical, and generally the JSEcoin mining script will use less than 10% of a devices cpu resources which is less than most video ads. In order to mine monero effectively the CPU usage needs to be much higher, which can have a very detrimental effect on a visitors browsing experience.
The JSEcoin script is securing our own blockchain enabling us to keep the cpu power as low as possible in order to do this. This is achieved by our unique ASIC-resistant lottery system used to distribute rewards.

What is the pathway towards acceptance of your currency by businesses? It is probably an “Achilles heel” of the cryptocurrencies that they are not accepted by many stores and businesses.

Liquidity is the first step that we need to take and will be addressed as soon as the ICO is over by starting the process for exchange listing. We then need to continue to create demand for the token. This can be done by increasing the number of sites accepting JSE, as well as increasing the number of people holding the tokens.

We will work hard at increasing both of these through continued marketing and promotion of the brand. It is also essential that the process for spending/receiving payment of JSE is as fast and simple as possible.

Providing an outlet for webmasters to spend their tokens is also very ipmortant. For this we plan to introduce an ad exchange whereby webmasters can use their tokens to purchase advertising space on our network. This can still work closely with the mining scipt and visitors could be offered a choice of seeing ads or to allow mining to take place.

Today there are approximately 2500 miners (on the platform). If there are 5000 miners, will I be earning about half of what I am earning today?

Yes this is the case. Rewards are distributed via a random lottery so nothing is exact, but generally this is how it will affect earnings. We are hopeful that as the number of miners increases so will demand for the token and the value of each token will increase.

What we can look into is decreasing the reward amount, but increasing the amount of rewards. For example, currently there are 50 x 1JSE rewards each 30-seconds bloc. This could be changed to 500 x 0.1JSE rewards per block. This would ensure that tokens are being widely distributed acros the growing userbase.

Where can we read more about your ICO and participate? What cryptocurrencies do you accept in the ICO?

A full guide to how to participate in the ICO can be seen here
https://jsecoin.com/whitelisting/

Full details of the token economics for the ICO and beyond, as well as future use cases can be found in our whitepaper
https://jsecoin.com/whitepaper.pdf

Kind regards,

Dave Mallett

With permission to publish by https://www.kryptovalutor.se/ (where it has been published in Swedish)