Magnet Plans To Become An Actual Payment Option For Online Merchants

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Below is our recent interview with Frederic Rezeau and R0land from Magnet team:

Q: Could you provide our readers with a brief introduction to Magnet?

A: Magnet is both community-oriented and still strongly coupled with our vision of network scalability, allowing us to grow and withstand the intensity and speed of all blockchain technology. By keeping the tenets of a decentralized network and focusing the community directives we can couple the best of both world in cryptocurrency with the utilization of masternodes. Network is built and lead by R0land and Frederic, maintained by Magnet Support staff and community.

R0land – been involved in crypto since 2014 and located in eastern-europe. First migrated from trading on Forex to crypto, but quickly started to see the potential of underlying technology. Self-taught as much i could about it until i was hired to help with a private project that turned into a 6 month long intense endeavour. Experiences gathered along the way helped me to be in a position to create a monetary system that is today Magnet. I choose to keep my full name to myself for the time being so i do not have to deal with attention and can focus on work. All the people I have had pleasure to work with in crypto, know me personally and can verify my words or my person if needed.

Frederic Rezeau – Developer with 10+ years of experience specializing in real-time trading systems and working for financial firms in Paris and London. Co-founder of Israeli-based company Massive Games and founder of award-winning UK-based studio Okijin Ltd. 2014 Honorable Mention Prize Winner – The Linux Foundation and Samsung – Tizen App Challenge. I was looking for a worthy challenge in the crypto field and got immediately interested by Roland’s innovative ideas with Magnet. It only took a brief discussion to realize we had much more in common than a deep interest in crypto and related technology.

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Q: How did you come up to the idea for Magnet?

A: R0land – The idea for Magnet came to me in 2017 when i worked for another company that was in a process of building their own chain. I got caught up in a job, where executive decisions and communication issues created a stressful work environment so at some point i had to leave. I was sure i will not work in crypto again. It is a field filled with emotions that are fueled often by money. Rewarding, but in the end takes a lot of effort, because navigating through strong emotions is never easy. During 6 month period of hibernation and trading to keep the mind busy, the need for creating a network became so strong inside that life brought me and Frederic together in the right perfect moment to bring Magnet forth for everybody. So in a way Magnet is rather something that is unfolding before our eyes and not an idea that we came up with. A story in time.

Q: What are main advantages of Magnet?

A: R0land – We understand the neccessity of keeping the core team small at first so we do not get caught up in the byrocracy of decision making. This will create a situation where the core team members are always on the field, on point and working. We dedicate almost all of our time exclusively to the network and always in contact with our community to bring them insight what is going on and where are we moving as a collective. Main focus point, after getting the codebase ready for the future development, will be mining on renewable energy so we can make it better for the planet. We have a small research center in the building process for making this happen through an investing platform available for everybody. In the next 6 months period we will gather data on miners, test different ways for renewable mining and find partners to build this everything up with. We are actually already in the process of securing 200+ mW of geo-thermal green power for the platform. Addition to all this, our advantage is understanding that networks are more than just ways to make money. They are a way to explore ourselves as a group. Most of our features are built, previous thought in mind.

Frederic – The synergy we are able to yield with Roland creates a fertile ground that benefits this project both creatively and technically.

We both bring decades of experience in software development, product design and entrepreneurship along with a full dedication to the crypto field. Our respective skills overlap just enough so we can support each other while remaining symbiotic. Through this complementarity, we can bring genuine product differentiation while executing strong ideas and robust implementations.

Since inception, Roland asserted the importance of getting in phase with the community needs so we immediately decided to engage strongly with users through social channels such as Slack and Discord, providing around-the-clock support while gathering feedback from our early adopters. This approach, I believe, created a very resilient connection to our community along with a fertile, ongoing feedback loop. Besides, being a small team at start also allows us to remain fully attentive to opportunities, learn and adapt to market evolution which in the crypto sector is not even a luxury.

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Q: What’s your focus for 2018?

A: Frederic – Early 2018, the focus will be on development, process and methodology to be able to execute and deliver our roadmap promises without too much encumbrance. A lot is going on behind the scene but we must still pay attention and be able to communicate clearly with our community – this is also a priority focus all the way. As we speak we are also working on growing up the team steadily to face the increase in workload and size. We will do so while preserving that great synergy we have, which has been our greatest strength the start of this project.

R0land – With coming Merchant Tools (march-april 2018) we will focus on becoming an actual payment option for online merchants. Lot of networks claim to be next best payment option, but we actually will have our own tools for that. Merchant tools are 100% our own, built by our head dev Frederic, who came up with a great coding solution for it. Next from there is integrating our own engine to the blockchain so we can leave the old QT framework behind and be fully in charge of how everything looks and feels for the user. Then later in 2018, all our focus will be on the renewable energy platform. By that time we have gathered enough data and ran enough tests to start building a prototype platform. Growing will be our constant in 2018. Bigger exchanges, bigger team and bigger ideas. Our sincere and biggest thanks goes to our community members who are a great source of inspiration and meaning!