5th May 2023 — In another edition of Bitrue’s Telegram “Ask Me Anything” session, we chatted with Stas Madorski, the Senior Vice President — of Blockchain Strategy at WadzPay. We had a deep dive into WadzPay, a Blockchain-based payment platform for digital currencies.
Without further ado, take a look at the main Q & A’s from the session below if you missed ou.
Q1. To kick things off, please introduce yourself to our audience and share how long you’ve been involved in this industry.
Hi great to be here! Happy to be back in front of the wonderful Bitrue community. I’ve been working in marketing in some sense for about 15 years and in blockchain since 2017. 7 years… time flies, feels like yesterday.
Q2. Can you please provide a brief introduction to WadzPay (WTK) and its core vision, particularly focusing on how it aims to revolutionize the digital payment ecosystem?
We live and breathe payments. WadzPay is a blockchain-based technology provider company, working with payments, with offices around the world. We believe in being blockchain-agnostic and making payments accessible to all. To see the WadzPay team, you can visit here to learn more about the team.
Q3. Can you tell us what are the unique selling points of WadzPay that set it apart from other platforms in the market?
We believe we occupy a niche others don’t:
- We have something like 200 years of payments experience across executive leadership, so appreciate you linking to our stacked leader team! :)
- Holistic solution (not just capturing one slice in virtual assets): we deal with all aspects of the payment journey
- Blockchain agnostic, empowering choice
- Coming out with its own revolutionary payments blockchain
Q4. We know that WadzPay has its own native token, which is the WadzPay Token (WTK). What do the tokenomics and supply for WTK look like? And can you provide more information about its use cases, benefits for token holders, and how it contributes to the platform’s overall growth?
Our intent for WTK has pivoted from its launch (close to when we listed on your exchange). We are looking at what makes a true utility token with stickiness. In terms of utility, protocol native tokens eclipse the rest of the market. WTK will be used for fees, as well as commercial agreements on our upcoming blockchain: our vision is for there to be a use case for the token every time a transaction is processed on our huge blockchain coming soon — the world’s first hybrid blockchain purpose built for payments.
Q5. I saw that WadzPay was recently congratulated on the NASDAQ Billboard in Times Square, could you share more about that?
Yeah! That was quite a shock! We did not pay for advertising, but NASDAQ congratulated us on the debut of the WadzPay 2.0 platform. I think a lot of the heads in the finance industry are looking closely at how our platform is revolutionizing virtual asset payments.
Q6. Talking about community, a strong, engaged community is essential for the success of any project. Can you discuss WadzPay’s strategy to ensure active community involvement and share some examples of initiatives or programs that have been put in place to engage, empower, and reward users within the ecosystem?
I slightly disagree. Most virtual asset projects spend all their time in keeping the community hyped, hoping that it will lead to pricing action. We think establishing a strong brand identity and for our customers (i.e. Financial institutions, Merchant Acquirers, etc) to understand what our product is. We treat our company the same way any company with stock would — ensure sustained business growth, reduce hype and fluff in marketing and focus on key business drivers.
Having said that, we have absolutely amazing supporters — intelligent, analytical…and better detectives than Sherlock Holmes. We really appreciate the support and your love despite us not going down the typical virtual asset marketing route.
Q7. Can you discuss any strategic partnerships or collaborations that WadzPay (WTK) has forged or plans to pursue in order to bolster the platform’s capabilities and reach?
We have tonnes of customers and partners. I think our community is generally aware of them as they include Algorand, Tokoin, XinFin, Geidea, MENA retailer, FIGA….and much more. While I didn’t plan to hint at any partnerships, There is one that will be coming out in the next few weeks. Not a major one, but still a very nice one we can finally make public.
Q8. Can you elaborate on the team’s key resolutions and objectives for the year, and how they will contribute to the growth and development of the platform?
A lot! The team has been insanely busy, as I think everyone is aware. We keep kicking goals in terms of converting our sales pipeline, reaching development milestones, etc.
Key for the year so far has been:
- Executing and learning from live pilots (particularly at retail/POS)
- Tweaking and learning from the recently-launched WadzPay 2.0 platform while improving integrations across on/off-ramp/custody/volatility management. Ensure CBDC readiness.
- Closing sales (I know I’ve already mentioned it, but it’s vital)
Q9. What about the plan and roadmap? Could you share WadzPay’s detailed project plan and roadmap for 2023, highlighting the major milestones, developments, and innovations that the community can look forward to in the coming months?
Honestly, I’m not a big fan of external (public) roadmaps, especially in this industry. Almost every roadmap I’ve seen misses deadlines/underdelivers, it just sets companies up for disaster. I’m not saying don’t have a roadmap — internal roadmaps are a basic building block to project management, but it’s far better to focus on building and communicating publicly when you are nearing launch.
But the big milestone we are looking at is being able to complete WadzPay Chain — I firmly believe it will be a gamechanger: I think there is a strong chance that the blockchain will become the defaults chain for all virtual asset processing, as it is feature-rich to serve the needs of all players involved in payments.
Q10. Where do I buy the $WTK token, is it available on CEXes and DEXes? Are you going to do an IDO and airdrop on the $WTK token?
Not financial advice, but WTK is available on Bitrue exchange (as well as some others). We have plans to release it on a DEX. IDO has been done and sold out in record time!
Q11. What are the new updates and features that WazPay 2.0 offers? What improvements have you integrated, and how do these changes help to have a positive impact on your users and customers?
Oh my…so many! It was built with our customer needs in mind; which have gotten more sophisticated over time. We built it to be safer, faster, more cost-effective, and with more control for customers. It’s entirely modular and configurable to suit individual needs.
Q12. Currently, one of the new technologies that are revolutionizing the blockchain world is AI, does WadzPay plan to integrate AI technology into its products and services?
Yes, AI will be used more and more, and definitely in blockchain, but at its core, the core tech of blockchain for payments doesn’t require sophisticated AI. AI will be useful for data analytics, and the improvement of consumer experiences in due time, and in the future, I’m sure AI could be programmed to constantly enhance a blockchain’s efficiency.
Q13. Are you a global project or a local project? At present, which market are you focused on, or is it focused on building and growing to gain customers, users, and partners?
Very global. Our focus is on Asia & MENA at present, while we have expanded to sub-Saharan Africa and the Americas. This global advantage is key when it comes to cross-border payment flows, while many players can only serve one geography (ironic, given it’s an internet-based product).
Q14. How do you manage to strike a balance between developing the technology and also improving the value of the token?
We don’t — in fact, we don’t ever talk about token price or value. I look at the company like any publicly listed company (despite not being one). You don’t ‘pump’ the price of Tesla — it’s not sustainable; instead, they grow sentiment through meaningful innovation and performance.
More information about WadzPay
WadzPay Chain Whitepaper: https://wtktoken.com/files/WadzPay_Chain_Whitepaper.pdf