Team Scoopnix managed to get an interview with Dan Ewah, Cofounder & CEO, WITTY. WITTY is a fully indigenous African Blockchain FinTech Provider built on the Binance Smart Chain focused on developing Products & Services with the aim of creating a Value Chain in the Decentralized Finance Ecosystem. We questioned Dan about the WITTY ecosystem, aim & future of the project, the upcoming Crypto Remittance Platform, and many other important questions as well. Read the interview below and get to know more about WITTY.
Q. Please introduce yourself?
My name is Dan Ewah, I’m the Co-founder and CEO of WITTY.
I got involved in the Crypto space in 2016, as someone who studied Economics and have a banking background, I was intrigued by the Blockchain Technology in general and Crypto in particular.
In 2020, I identified a need particularly in the African Continent which Cryptocurrency can solve, So I put together a team and we’ve been working hard.
We have achieved some incredible milestones within a short period and we are still moving ahead.
Q. What is WITTY?
WITTY is a fully indigenous African Blockchain FinTech Provider built on the Binance Smart Chain focused on developing Products & Services with the aim of creating a Value Chain in the Decentralized Finance Ecosystem [ DeFi ].
Our Vision is to play the major role in breaking the third world fence by leveraging Permissionless and Trustless Technologies.
Our Mission is to onboard Africa into the Crypto space one step at a time.
Q. What are the problems that WITTY aims to solve?
We have identified a big problem in Africa which we intend to solve; it’s a low hanging fruit because no other platform is competing in that space yet.
We seek to build a platform that will allow African Merchants/Traders/Businesses to buy Crypto with local currency from our Non-Custodial Peer to Peer Crypto Exchange, convert this Crypto to Great Britain Pounds (GBP) on our Remittance platform and be able to wire Fiat to bank accounts in about 100 countries.
So instead of African Traders to source for Fiat Dollar which they get at very high exchange rates from the black market in order to send to their Western and Asian trade partners; they’d rather buy Crypto on WITTY’s Non-Custodial Peer-to-Peer Crypto Exchange at a far much better exchange rate, convert this Crypto to GBP on our Crypto Remittance Platform and wire to bank accounts of their trade partners in nearly 100 Countries.
In Nigeria for instance, official exchange rate of Naira/Dollar is N411/$; but approved Merchants would often have to wait for months to be able to buy forex at that rate, to make matters worse, there’s a quarterly limit available per approved merchant.
Merchants whose industries are not approved and merchants whose industries are approved but need more forex resort to black market exchange rates in excess of N600/$ in most cases (Approved merchants are merchants in industries that the Government consider critical to the growth of the economy).
Q. What are the different parts of WITTY ecosystem?
There are two platforms that needs to be developed for WITTY to go to Market; the Non-Custodial Peer to Peer Crypto Exchange (where the Merchants will buy Crypto with their local currency) and the Remittance Platform (where the WITTY platform integrates with that of our banking partner to provide users a wire transfer functionality).
The Non-Custodial Peer to Peer Crypto Exchange has already been built. The funds raised from the IEO will enable the completion of the Remittance Platform. The Soft cap for the IEO is $200,000 (Two Hundred Thousand Dollars) while the hard cap is $2,000,000 (Two Million Dollars).
Aside from the Non-Custodial Peer to Peer Exchange and the Remittance platform, WITTY plans to offer other range of products and services in its ecosystem;
- Staking Platform
- Crypto Debit Cards
- Crypto Payment Gateway
- Automated Crypto Trading System
- Lending Platform
- Utility Platform
- WITTY Fund (A percentage of WITTY Revenue will be kept in this fund with the aim of acquiring complementary platforms in a bid to make the WITTY Ecosystem more valuable and the WITTY Token more profitable for holders)
It is instructive to say that while the primary focus of WITTY is the African Market, users from around the globe can use the platform and of course investors from around the globe can leverage on our unique selling point to invest in this gem now before it becomes very popular.
Q. Please explain briefly about the WITTY club?
WITTY Club is the community arm of our project. We believe that building a tribe around our project will help its sustainability as we would have an educated tribe who understand and share in our Vision and Mission over and above economic reasons.
Q. What is the ultimate goal WITTY wants to achieve?
Africa have always been late in terms of Tech Adoption; the Blockchain Technology however provides a level playing field for everybody, for the first time, Africa can come on the global stage at the same time with the rest of the world.
Our ultimate goal therefore is Crypto Adoption across the continent of Africa.
Of course, our products are global but our primary focus is Africa.
And we’ll reach out to our friends in USA, Europe and Asia who share in our Vision to partner with us and of course share in the benefits of such partnership.
Q. Do the team have previous experience in this industry?
WITTY Executive Management is made up of four industry professionals with a combined 19 years’ experience in the Blockchain space.
Q. Is the WITTY project running according to the roadmap? What is your next planned event?
If you read our Whitepaper, you’ll find that we are actually ahead of our roadmap. Our next planned event is the launch of our Crypto Remittance Platform.
Q. What is the significance of WTY token in the WITTY ecosystem?
The WTY Token is the native currency of the WITTY Ecosystem, even though we currently support BTC, ETH, USDT and BNB; users are rewarded with a 25% discount if they do their transactions with WTY, users will also get a cashback of 5% on certain transactions if it is done with WTY and on some of our use cases like the Automated Crypto Trading System only WTY will be acceptable.
Q. Please briefly explain the token distribution & funds allocation in the project?
Total Token Supply: 20,000,000 WTY
Circulating Supply: 1,000,000 WTY for first 2 YEARS [till 2023]
By 2023, there will be 5% emission annually until all supply is circulating.
40% – Affiliate Rewards
20% – Development of Use Cases & Maintenance of the Ecosystem
15% – Marketing
15% – Core Team Reward
10% – Company Reserve in Digital Assets
Q. Plans for token sale?
Our token sale is currently in progress, it started on November 19, 2021 and will end on December 18, 2021; the Private Sale is available here https://p2pb2b.io/token-sale/338/
Q. How to buy WTY token? Any exchange listing planned?
WITTY will be immediately listed on p2pb2b exchange immediately after the token sale. We also plan to list on Pancakeswap after the sale.
Q. Any message for our readers?
As you may already know, Africa has a young population that is very active in the Crypto Space. For example, Nigeria is currently the country with the highest rate of Crypto adoption making Yahoo Finance to dub it the King of Cryptocurrency in an article published on June 28, 2021; to most of America and Europe, Crypto is an emerging technology but to Africa, crypto is a means of survival which is why the rate of adoption is galloping.
If you’d like to be invested in a company that intends to play it big in the Crypto-centric continent of Africa, then be part of our Private Sale, the upside looks amazing https://p2pb2b.io/token-sale/338/