Today ZyCrypto had a chance to speak with James Dahlke, founder, and CEO of Maya Preferred 223. Maya Preferred is an ERC-23 token, backed by gold and silver assets based in Mexico, that some in the industry are looking at as an ideal intermediary between the blockchain-based economy and the global financial system.
Anticipating Maya Preferred’s forthcoming listing on FatBTC, one of the top-ranked crypto exchanges, we asked Mr. Dahlke about some of the factors that had an instrumental role in the creation of Maya Preferred and where he sees his company moving in the future.
Please, tell us about the history of Maya Preferred 233. How did you come up with the idea of creating it?
The word stability came into my mind when creating Maya Preferred 223. What I mean by this is I realized we had an unstable cryptocurrency market, tokens like Bitcoin were trading at tens of thousands of dollars per coin but in reality, had nothing behind them. I also saw tokens trading hundreds of millions of dollars a day based off of nothing, so I decided that this project was going to be different than all of the others. While creating Maya Preferred 223 I knew I had to put tangible assets behind this token, I had to make sure the investors who bought Maya Preferred 223 had an insurance policy in case things went wrong. So I did what the American government did back in the day, I secured each and every Maya Preferred 223 token with gold and silver. Because of that, we were able to provide a book value; now each token was worth something- not based off of a phantom value but real value. I did this because I want to create stability in the cryptocurrency market. I want to use our token to secure and back other tokens. Our doing this will stabilize the cryptocurrency market and allow the market to trade at a much less volatile rate every day and over time we’ll see that cryptocurrency can be a way of life.
2) Have you been inspired by the success of stablecoins like Tether, DAI or Digix?
Absolutely. One of the main business plans of ours is using Maya Preferred 223 to back other cryptocurrencies. When looking at some of the other cryptocurrencies out there, it made me realize this was the way to go. Instead of just having tangible assets backing us, we were going to take it to the next level. The next level for us is to continue to add more and more assets to back our token. We’re not just going to stop with the first seven mines that we have in Mexico backing our token. Even though, as of right now, there’s approximately $18,500 backing each and every Maya preferred 223, which is an extraordinary amount of assets, we believe that we need to continue to add more backing to our token. Unlike what you see with Tether, we are not just going to stop with one type of asset backing our token; we have bigger plans. Each time assets are added to our token its book value increases, meaning that with each new acquisition, or new contract signing of additional Gold and Silver Mines to back us, the value of Maya Preferred 223 will increase.
3) How do you see the current situation in the crypto market? The age of ICOs seems to be passing, isn’t it too late for such startups in 2019?
Too late? Not at all. What makes us different than all of the other startups in the crypto sphere is that we did not do an ICO. We didn’t believe that putting a pre-market value on our token was right for our investors. We believe that allowing the market to place a value on our token was the only fair way of allowing Maya Preferred 223 to set its value. We believe we will become one of the most well-known tokens in crypto very soon. We believe that we are going to change the way the entire world looks at you cryptocurrency. Even though the world considers us a startup this project has been taking shape for the past 7 years. We have a very bright outlook on this project and believe that by placing assets behind our token, it will give our investors peace of mind knowing that their Investment is protected.
4) Where do you see the promise of your token? What issues it will help to resolve?
Maya Preferred 223 will resolve a lot of issues in the crypto industry, the most important issue we will resolve is stability. With the gold and silver that is backing each and every Maya Preferred 223 token, we will be able to back and cosign on other cryptocurrencies. If we can use Maya Preferred 223 as an asset to back other major cryptocurrencies and stabilize current tokens that have nothing behind them right now, the sudden influx of gold and silver backing will have a healthy effect on the markets. Think of it like this: we take a coin that is well-known but has nothing behind it, though it still trades very well every day, and all of a sudden we back that well-known token with gold and silver. This will not only stabilize that token and give it a book value but it will stabilize the trading value which will reduce the volatility of the markets.
5) What is the core difference between Maya Preferred 223 and other precious metal-backed stablecoins like Digix or G-Coin?
We have the most golden and silver per-coin backing on the crypto market today. Also, we do not plan to stop adding additional tangible assets to back Maya Preferred 223. Plus our token will be the only token in the world that will use itself to help stabilize the crypto world via buy-back in other major well-known cryptocurrencies.
6) Maya Preferred 233 will be initially backed by 7 gold and silver mines based in Mexico. Are you going to find new partners among precious metals producers? Do you have any specific ideas about these partnerships?
Yes, we are currently in talks with 5 additional miners who control substantial amounts of mines not only in Mexico but around the world. We plan on adding additional mines to the equation of the Maya Preferred 223 project within six months from the day we go live on the FatBTC exchange. Once we execute this agreement, it will almost double the dollar value that is currently at $18,500.
7) Now you will have a listing at FatBTC. What are your next steps?
To stabilize trading of Maya Preferred 223, so it trades at a minimum at the amount of its gold and silver backing per coin. While this is being done we are going to continue to add additional assets to back Maya Preferred 223 to show the world that one cryptocurrency can help the entire Market stabilize itself.
8) Anything you want to add for our readers and your possible investors?
I want everyone to do their due diligence. I want everyone to understand that our main goal here is to build the best cryptocurrency in the world. We’re not going to be like everyone else that is setting out to beat the best like Bitcoin. Sometimes beating the best is not the way to achieve success. Sometimes working with the best is even better than beating the best. I want all investors to know that this project is being done for them and for the betterment of the cryptocurrency market. By owning Maya Preferred 223 you are contributing to the stability of the cryptocurrency market. We’ll prove to you that not only will Maya Preferred 223 achieve our goal of stabilizing the cryptocurrency market, by stabilizing well-known cryptocurrencies, but it will also become the new token of choice in the industry.