Recently we’ve had the opportunity to interview Hussein Faraj, the CEO of NuGenesis Network. We have been following this project for a few months and had wanted to ask a few deeper question in regards to NuCoin. Here are nine questions we asked Mr. Faraj to help you understand the purpose and motivation behind the NuGenesis Network.
#1 What made you decide to create your own cryptocurrency project instead of building on an existing platform?
In late 2013 we were looking for a solution to a global remittance system, we attempted to build several systems based on current technology and found the bottlenecks in the current technology, could only be solved by starting a new blockchain ecosystem focusing on the genesis/validation and consensus mechanisms.
#2 What is the mission statement of the team, what about Nucoin inspires you to wake up in the morning?
Changing the world of decentralized banking and remittance, by designing, building and implementing best practices. For the blockchain world to survive, we need to support the system but ensuring the technology is scalable and efficient.
#3 What is your team’s biggest accomplishment so far that you would like our readers to know about?
Creating a parallel network of blockchains which function in one ecosystem, removing constraints of current mining practices and inventing a new mechanism of minting utilizing USI (unique Serial Identifiers).
#4 What do you think is your biggest challenge at the moment?
Banking agreements: Nugenesis Has designed the perfect legal and technological framework. The only issue its still facing is good banking partnerships for the ledger.exchange. we have also finalized our NFT Systems, Bitcoin Nu chain.
#5 You can fully stake and trade Nucoin as of right now, if someone wants to sign up and start mining Nucoin how would he go about that?
Mining is currently available as its crucial for the system, Coin sales is being delayed due to banking partnership agreements. Anyone wishing to Mine can do so through NuCoin.com.au, nugenesisou.com or NUGENESIS OU – NUGENESISOU in a few weeks people wishing to buy NUCOIN to utilize of a service fee to access Nugenesis Services will be able to, through Nucoin.com.au
#6 You’ve built a robust and functional ecosystem around the Nucoin cryptocurrency, could you tell me more about the brand new NFT marketplace you’re working on?
We are building several smart contract and advance smart contract platforms, The Nugenesis NFT platform is currently in Testnet and will be available within the fortnight on mainnet. Our systems are designed to be close to gasless as possible and utilizing NuCoin as a payment coin to process services. You will need to have NuCoin to pay for services. Currently NuCoin is valued at 0.37c USD, All systems will require the flat fee of one NuCoin to process any Service. Transferring NFT or any other internal Transfer are gasless/feeless.
#7 It’s refreshing to see a crypto project focus on building first then selling later, when are you planning on launching Nucoin on an exchange and do you have any idea which exchange you might first list on?
As we are passionate of becoming a launchpad and launching only the best technology and projects, we have our own fully decentralised exchange, which is currently able to perform over 100,000 transactions are second.
It is in the projects long term best interest, that we first launch on ledger.exchange and prove concept. Followed by launching on several other exchanges. We area also launching other huge blockchain projects, one being designed for a famous Hollywood project and the other we will keep as a surprise till the deal has been signed.
#8 You mentioned that you have some upcoming partnerships with Hollywood directors, could you tell me more about that?
What I can say is we have agreed to build a Hollywood Intellectual property NFT System. We have fully designed the blockchain system and are only months away from completion. At this stage this is all I can share.
#9 Where do you see Nucoin in 2022?
Helping other projects have there own blockchains, helping projects who have raised capital who need to deliver, meet there deliverables, having ledgerx.exchange as a globally recognized launchpad and having justsocial.tech as the go to place to blockchain information. At Nugenesis we are patient and have a really strong and well planned growth strategy.
We also would like to bring to your attention that NuCoin is the native token of NuGenesis Network, There has been several companies who have been using the name Nucoin for there coins. NU in Nugenesis network refers to Non Usary Coin. We have trademarked NUCOIN in Australia although there have been many projects who continue to utilize the name NUCOIN. NuGenesis is the blockchain ecosystem, Like Ethereum, Nugenesis itself is the whole ecosystem.
NOTE: NuGenesis has no relationship to any of there other Nu Projects. NuCoin is not available for sale, so please do not mix up NuGenesis native token, with other Nu projects out there. Always look at the official Facebook page, or websites of Nugenesis.