Interview with Joe Arthur, Mingo CEO & Co-Founder.
Can you provide a brief background on Mingo?
With Mingo we plan to increase the percentage of people in the world using Cryptocurrency
by teaching them how to use cryptocurrencies on their applications through our multi-platform MingoMessenger, crypto wallet – MingoWallet and the MingoCoin cryptotokens. The core of our business is the messaging Application. Early on we were looking at ways to create revenue from the application. We were looking possible integration with third-party E-wallet platforms on our application. At the same time, we had started the traditional method of raising funds and were preparing paperwork accordingly. A friend of mine suggested that rather than give another company the benefit and by launching our own ICO we could solve all problems in one and at the same time solve a much larger problem within the Cryptocurrency community. We were already in discussions without to strategic partners in relation providing our business services within the application. So it became an easy sell to bring them onboard once we shared our vision.
What challenge is Mingo addressing with this ICO?
Less than 1% of the World’s Population is actively using Cryptocurrency due to lack of education of how to trade cryptocurrency. This has opened a massive opportunity for Mingo to be World’s first simplified introduction for the rest of the World that are not currently using Cryptocurrency. Mingo will introduce new users to the world of cryptocurrency by providing an App which is a familiar multi-platform messenger they will use with or without cryptocurrency.
Can you showcase some team members/advisors which have a strong background?
What is their connection with this particular project? We have a very diverse team of people with very strong skill sets. Our team is made up of individuals with serious track records in Technology, Business and marketing and cryptography. We have brought on additional advisors where need and one of the key components of our team is that we learn very fast but are also quick to identify weakness where they exist and bring in the additional expertise when needed.
Does Mingo have public strategic partnerships?
Mingo already has quite a few strategic partnerships set up.The current state of Mingo’s partners is a great indicator to the road ahead for the project. These partnerships will significantly increase user acquisition. The arrangement between Mingo and Xunison is they will install Mingo on approx. 100,000 devices every month which in hand will increase Mingo’s users by a minimum of 1.2 million users within year 1.
Does Mingo have a viable product at this time?
MingoMessenger is Android and iOS app with over 50,000 downloads. ICO funding will used to further develop MingoMessenger.
How many users are actively using this product?
Currently MingoMessenger has been downloaded over 50,000 times.
What is the structure of the ICO Pre-Sale?
Our ICO Pre-Sale started on September 25th at 3 pm GMT and was a massive success with us raising approximately €650k in just the first hour. The initial pre-sale target is €2,000,000 we will not accept funds above €8,000,000.The sooner you participate in the Pre-sale, the deeper discount you get. Our main ICO will take place in Q1 of 2018.
What are the requirements to participate in the ICO Pre-Sale?
Ether (ETH) is the only accepted currency to participate during the Pre-sale. You MUST use a token-compatible wallet such as MyEtherWallet, Parity, Mist or imToken. ETH from exchanges such as Coinbase will not be accepted.
How many tokens will be issued?
Tokens will be sold as demanded up to the 40 million hard cap so no need for burning tokens. The final volume of MingoCoin will be calculated as follows.Total MGC Volume = (Pre-sale issued MGT + ICO issued MGT) / 0.7
Is there a cap on the ICO?
There is a cap on the ICO Pre-Sale of €8,000,000. There is a cap on the ICO of €40 million.
In which jurisdiction is the company incorporated?
Ireland
How is the project balancing the interests of the token holders and the shareholders?
MCG can sell 50% of their tokens after the first 3 months and the other 50% after 6 months. The founders rewards will be issued over a 4 year period. Mingo wants to adopt best fair practise without the need for regulatory intervention which is no doubt coming down the line.
In which jurisdiction is the project team based?
The Team is divided between Ireland and the USA
For more information please visit
We thank Joe Arthur for the interview.
