We were able to get in touch with Matt Nolan, founder and CEO of Menlo One, who kindly accepted to answer some of the questions people were interested to know and that could determine their decision to invest in his ICO.
Menlo One is a decentralized network that aims to introduce an additional level of social and communication features to blockchain investing. If you want to know more about this ICO and Matt Nolan here is the interview with him.
- What should investors expect from Menlo One during its first year?
People in the Menlo One community can look forward to Menlo One launching products for the next generation of token sales.
- How could Menlo One change the lives of many investors and blockchain entrepreneurs?
Menlo One will provide people investing in ICOs with a new level of insight into the quality of the project by leveraging feedback from the crowd. It will also make the purchase process of an ICO as simple as pressing a single button.
Because Menlo One greatly reduces the cost of reaching interested investors, blockchain entrepreneurs can look forward to the cost of launching an ICO to drop from the millions to (hopefully) something everyone can afford.
- How did you come up with the idea of creating Menlo One?
I was the technical advisor to dozens of companies launching ICOs in 2017. During that time I realized how immature the ecosystem is. Every company I was advising were experiencing the same problems. I realized creating a layer which automates transactions and adds social features could smooth the experience.
- How do you think normal investors without blockchain background, will benefit with Menlo One?
Right now buying ICO tokens is an extremely complex experience. The goal of Menlo One is to lower the technical bar to make this growing economy accessible to everyone.
- Why are Social Networks failing as a tool to communicate investors and token sellers?
Almost every existing social media network is run with a traditional centralized system architecture. The problem is that one cannot trust that the content has not been censored. There have been accusations of companies paying Reddit moderators to remove posts from their competition launching ICOS. With tools like Telegram or Slack, it’s easy for a moderator of an ICO to remove critical comments about their project. Token investors need a place for tough questions to be asked of ICOs where chat history can not be later re-written. I think this will help to reduce scams and bad actors in the ecosystem.
- Can token sales become more efficient with Menlo One?
Our technology makes buying a token as easy as pressing a button. Max efficiency.
- Will start ups increase their market presence with Menlo One?
It will be much easier for a startup to fund raise with Menlo One. Our hope is actually that startups can cut their advertising and marketing budgets by hundreds of thousands to launch a token sale.
- Can you tell us the differences between Menlo One and other social networks?
Menlo One makes systems for sophisticated token sales.
- Is Menlo be a more effective platform to promote startups?
Its our goal for Menlo One to be the easiest way for startups to fund raise.
- Do you simplify the KYC policies required by governments?
Menlo One doesn’t simplify government policies, but we do make complying with them much easier.
- How does this KYC system works?
The token buyer saved their ID or Passport image in their Menlo Wallet. When they buy into an ICO, the data is encrypted at rest and sent to the startup who then runs the ID though an AML provider.
- How do you protect private information from Menlo One users?
Actually most data on Menlo One is completely open and committed to an immutable ledger. This makes the ecosystem safer and more transparent. Only peer to peer messages are encrypted, and are not readable by anyone except the sender and receiver.