Toshiyuki Maeda is the Chief Technology Officer (CTO) of TEE-coin. In this interview, Toshiyuki will be discussing TEE-Coin with us; a reward token based on cryptocurrency technology and as an exchangeable currency to many cryptocurrencies, which solves the problem of the inability to use cryptocurrencies at local merchants.
What is TEE-coin?
TEE-coin is a Singapore-based company that connects consumers with the best local merchants through its ChatTee platform and app.
On ChatTee, consumers earn TEE-coin (TEC) by completing activities like checking in at specified locations, logging into the app regularly, leaving reviews about their merchant experiences and more. TEC can be used to purchase coupons for products and services from restaurants, shops, spas, theaters and more.
How does ChatTee work?
Leveraging artificial intelligence and advanced blockchain technology, ChatTee facilitates verified customer reviews, while providing merchants of all sizes with simple tools to gather shopping analytics and run rewards programs that increase revenue and inspire customer loyalty. Users are rewarded with TEC in exchange for engagement and merchant reviews on the platform.
Additionally, ChatTee is partnered with multiple rewards programs to enhance convenience and liquidity by enabling points from other reward programs and airline mileage to be converted into TEC, acting as a bridge for cryptocurrencies and reward programs, while solving issues with expiring rewards and lack of interchangeability.
What services are you providing and what problem does TEE-coin solve?
As consumers become overwhelmed with more and more information and media, they are forced to sift through an overload of information and multiple reviews that may or may not be trustworthy or reliable to find or purchase a desired product. Whereas merchants face similar challenges when it comes to acquiring new customers in this digital era where stores can no longer rely on brick and mortar traffic alone. TEE-coin acts as a networking platform to bridge both consumers and merchants to solve common problems faced by both parties.
ChatTee provides customers with a variety of services including:
- Loyalty programs for ChatTee users who share their experiences, patronize participating merchants and/or stay active on the platform.
- Cryptocurrency exchanges to purchase products and services provided by ChatTee merchants.
- Loyalty rewards conversions to provide users with the flexibility of exchanging TEC with other loyalty rewards points.
ChatTee provides merchants with a variety of services including:
- Full payment services with TEC or other cryptocurrencies (indirectly via the TEE-coin top-up function).
- User acquisition and advertisement tools including coupon, banner or article marketing.
- Loyalty programs, events and activities organized by ChatTee to build user retention.
- Targeted marketing services to send push notification messages to select users.
- Shared business insights and shopping analytics available through the merchant app.
Could you give us a breakdown of the TEE-coin Solution & Business Model?
TEE-coin is built on a self-sustaining token economy business model. Our revenue comes from transaction fees that occur when users convert other cryptocurrencies or cash to TEC, or when users make payments for products, services or coupons from participating merchants. Our transaction fees are among the lowest in the industry to allow faster and easier adoption in the market.
Subscription plans will also be available to merchants for access to functionality tools like coupon marketing and targeted push notifications, with optional add-on services for usage or user limit overages.
TEE-coin will be releasing subscription plans for our users in the near future, which will allow users access to exclusive coupons, a faster TEC earning rate, less transaction fees and lower exchange rates between rewards points.
At what stage of development is the TEE-coin platform and what is next on your Road Map?
TEE-coin is only about eight months into development and has already secured nearly 40,000 merchants on the platform. Our token economy is near complete functionality, and we are in the final stages of completing and implementing our full payment function and merchant application.
Do you have any success stories to share with us so far, tell us about the TEE-coin Traction?
ChatTee was launched in January 2019 and has accumulated approximately 20,000 users. We have partnerships with major retailers and brands in Singapore to join the platform including Agoda, Polar Puff and Cakes and Jeap Yip Group.
Any opportunities for investors and Partners at TEE-coin?
We are always looking to expand our services with new merchants (with or without an existing offline store), event planners, advertising agencies or any loyalty rewards program, as well as any other crypto-projects or tokens that will allow an easy exchange of services and currency within the ChatTee application.
We also have several upcoming Pre-Initial Exchange Offering (IEO) token sales and seminars, and interested investors can purchase the token at a special rate during the event. We also have an affiliate program which allows ambassadors or individuals who believe in our project to support our growth. Any interested individuals or investors can join our Telegram group and follow our social media for our latest updates.
Could you tell us about your team and customer support?
Our headquarters is located in Singapore where we focus on sales, marketing, business and production. We also have a location in Vietnam, where we have a strong team to support our mobile, backend, blockchain and AI development. Additionally, we have investor relations and customer support teams based in Japan, where the majority of our users and investors are located.
Users can easily reach our customer support team directly through the ChatTee app.
How Safe is TEE-coin, would you like to talk about your legal and security measures?
TEE-coin is a utility token built on a network derived from the Stellar network, a platform which is designed for secure financial infrastructure with a multi-currency payment backend that can support tens of thousands of users daily.
Our team is diligent about following regulations and legal matters, and rely heavily on our Chairman, Mr Patrick Chee, who is an advocate and solicitor of the Supreme Court of Singapore and the senior courts of England and Wales, as well as a senior legal consultant with a major law firm.
Why is TEE-coin better than other competitors?
We believe there isn’t a single service provider offering an overall ecosystem as a solution. Crypto users mainly use their cryptocurrencies for investment or speculative purposes rather than common purchases. However, this is gradually changing as we see more and more platforms accepting cryptocurrencies as a payment method.
But the use of those cryptocurrencies are still often restricted within their own platform and not interchangeable. Also, most platforms typically leverage their existing user base so there is a lack of incremental business insight.
We are building a platform that allows flexibility and interchangeability on token rewards. It can be purchased, exchanged from other cryptocurrencies or earned through user activity. The tokens accumulated are versatile, and can be used at our merchants or be exchanged to other reward or points systems. In addition, as we are building the platform, data can be collected at a faster rate and the cost to process the data is shared. As such, it will empower our merchants with state-of-the-art AI technology (which is currently only accessible to big players) at a fraction of the cost required.
For more information, visit the website https://tee-coin.com/.