Author: Gan Jia Ci
Based in Singapore, Fonder positions itself as a “mainstream cryptocurrency that even your grandma can use”.
During the 3AM summit organised by the World Blockchain Forum (WBF), founder and CEO George Chen told Block Asia,
“The cryptocurrency is too complicated these days, and the mainstream user can get confused very easily. We wish to alleviate that problem.”
According to Chen, Fonder aims to start their very own wallet – dubbed as fonwallet – which will provide a Blockchain Name Service (BNS). The role of BNS is exactly like that of the Domain Name System (DNS), a protocol thata allows wallet users to use simple and readable domain names instead of typically long and complex addresses. “It’ll just be like giving out your e-mail address,” Chen exclaimed.
While the cryptocurrency is currently not listed in any exchange platforms yet, Chen does not feel a need to actively seek out for partnerships with these platforms at this stage. Chen explained, “If you’re a good crypto and have a good size of community, you don’t have to look for exchanges. Exchanges will come for you.”
At the moment, Chen wishes to prioritise building and engaging a community all over the world. “We will definitely target exchange platforms but this is not the time to focus on that,” he spoke of pitches.
Chen also announced a soon-to-be launched ICO project. He claimed that the project is an effort towards building and strengthening their community, through leaderships and partnerships. In Q4 2018, Fonder will be launching a token crowdsale that helps finance the cryptocurrency’s roadmap and upcoming activities.
Not only that, Fonder also claims to promise an ICO guarantee, where investors are able to redeem Fonder diamonds at the same value within a certain time period. Fonder Diamond is a diamond brand under fonder groups
With an original business in diamond sales, Chen wishes to engage the two drastically different industries and create a seamless ecosystem of assets.
As a former IT expert, Chen spoke highly of his diamond business. “This is relatively new and different from IT. We are definitely different from other diamond companies. Our prices are transparent, anyone can access them. In fact, we have lower prices than our rivals because we always try to cut down on intermediaries, and majority of our marketing efforts take place on the internet,” he explained.