by Marvin Dumont
Apollo has held AMA sessions over the past month to answer the community’s questions about Apollo Fintech. Here are important takeaways.
Apollo Fintech is a new company.
Steve McCullah says:
The connection between the Apollo Blockchain and the new company, Apollo Fintech, is simple. As with other cryptocurrency founding companies, Apollo Fintech will hold its copyrights and IP. It will be the entity that represents it, develops it, and pushes it.
Fast Apollo Protocol is already launched.
Yes, the majority of it has already launched. Elements of Fast Apollo are meant to work with DEX transactions, for example, and this has been implemented. The interesting part is that even now, our transactions are much faster than they look.
Elements including the refresh rate of the front end, latency, and other variables can keep the user from seeing a transaction as complete, and [a transaction can] appear as though it’s taking longer than it is. We have had a significant amount in our dev queue, but we will be releasing something in the near future that will allow the user to experience that speed by reducing the variable mentioned.
New products fall under three categories: government, commercial and consumer.
We are releasing information on nine new products publicly and working on others behind the scenes. These products fall into three major categories: government, commercial and consumer.
From a business standpoint, as a whole, we have competitors in a number of industries. The thing to remember, however, is we are never going to spend resources developing a product that is not better than the best solution available at that time. Everything that we have designed has been designed in a way that improves on existing solutions.
Apollo has given us a truly remarkable leg up on nearly all of our blockchain products, not just because of its speed but also sustainability. Sustainability is critical in the government sector, specifically, which limits competing solutions drastically.
From a category standpoint, we have no blockchain-based competitors within the government solutions category. We are the only blockchain company we are aware of that is currently designing the solutions we are designing.
On the commercial side, Ripple will be our main competitor. We are better for a number of reasons, however, all of which will be revealed with our new products.
On the consumer side, we have obvious products that everyone knows about, such as the CEX. Regarding the exchange specifically, our biggest competitors are Binance and Coinbase. We are implementing a great number of things that will make us much more attractive than either and realistically, even both combined. A few of those things are physical locations, a customer service team equipped to process KYC and user requests near-instantly, better UI, regional bank accounts for instant deposits and withdrawals, significantly more fiat options, and much more that will be revealed soon.
Apollo (APL) all-in-one currency combines nearly all features of mainstream cryptocurrencies into the fastest blockchain in the world. Boasting features and advancements such as the first implementation of database sharding, as well as adaptive forging, atomic swaps, two-second blocks, encrypted messaging, decentralized marketplace, decentralized exchange, decentralized applications, and decentralized file storage, Apollo stands as the most feature-rich cryptocurrency on the market. And one of the most advanced.