Ziyen Inc. is a Scottish-American Oil and Energy technology company with a focus on becoming a leader in the International energy market. Making the shift from fossil fuels to renewable energy is a leading global consciousness and is also the reason behind Ziyen Inc.’s innovative approach to oil production. Founded in 2016, Ziyen Inc. operates three divisions. Ziyen Intel, Ziyen Energy & ZiyenCoin.

Hey guys! Thanks for reaching out.

We are honored to discuss your project with you, and this is the first of a two-part interview with the CEO of Ziyen, Alastair Caithness.

So, let’s just dive in. Can you give us a quick introduction to the company’s background? How did you get where you are today and what does your company do?

I’m originally from Scotland but now live in California. My background was in the business intelligence side of the oil and gas industry and was mentored by Mike Knox in Aberdeen, Scotland. Unfortunately, he is no longer with us, but in 7 years he gave me a crash course in the oil industry and business development. To put it simply for those of you who watched Dallas TV Show, it was like being trained by JR Ewing every day. I then moved onto be Head of Sales & Marketing for a successful government procurement portal and dealt with mainly, the British and Norwegian governments.

When I moved to the USA, I set up the corporation Ziyen Inc., which was the 33rd company qualified under the new legislation change to the JOBS Act, Regulation A+. This change to the JOBS Act occurred under President Obama’s administration and was designed to allow non-accredited investors the opportunity to invest in start-up companies from the start-up stage.

The original division Ziyen Intel was created, and soon after, I came up with the idea to start my own industry-specific procurement portal, which is called Rebuilding Iraq and focuses on providing the US, European and international companies industry-specific business information, news and contracts, and tenders. This e-procurement project information software provides a better end-to-end project timeline analysis which helps companies immensely with winning business.

The oil crash brought an opportunity for us and we decided to take advantage of the low oil price by establishing ourselves as a small oil operating company which created Ziyen Energy. We already had the confidence, experience and knowledge of the oil industry and knew how to secure oil leases and we now have at 18 oil leases that span over 1,665 acres in the mid-west region of America.

We are producing oil by securing marginal oil fields and utilizing our industry-specific knowledge to create a more sustainable means to produce oil using renewable energy. Our engineers are at the moment developing the technology we plan to implement on these fields in pilot stages.

I was following the oil blockchain space and how it could affect the supply chain, or more importantly, make it more efficient. The money invested into the blockchain space by Exxon, Saudi Aramco, BP, Shell, ADNOC, Equinox, Marathon, etc., meant that the industry was undergoing vast change and meant this concept was being developed further. As a small operator and oil technology company, we launched ZiyenCoin to become a driving force in the transition to digitization utilizing the oil and gas blockchain.

To simplify the plan: we will create a blueprint for the major oil companies to follow suit when as we tokenize assets on the Ethereum blockchain.

Do you think that cryptocurrency, smart contracts, and distributed data will transform the oil and gas industry?

Absolutely. We can already see the benefits of blockchain technology on industries such as banking, healthcare, insurance and now in the energy sector. The collective global expenditure on oil and gas is over $5 trillion dollars.

It is the single largest actively traded commodity market in the world, therefore, oil giants such as ExxonMobil, Shell, Saudi Aramco, Marathon Oil, and ConocoPhilips, have already launched pilot projects which consist of private, permissioned, and consortium blockchains — all with the collective intent to create a more efficient industry and supply chain that will track all records, transactions, contracts, locations of people. This will not only save a disproportionate amount of time and money; it will eliminate the need for a central authority. The blockchain and smart contracts are already being developed to share seismic data and oil field projects successfully and the shift to this technology is rapidly occurring.

We are all aware of Bitcoin, and Facebook’s new Libra but how is ZiyenCoin different from them?

Great question. Bitcoin is a pure cryptocurrency. It operates anonymously and on the periphery of traditional banking and out with of government control. Libra is a stablecoin, which means it is benchmarked against multiple currencies including the dollar, the euro and the yen. The reason they are benchmarking Libra is to essentially stop the volatility in the marketplace, in the way Bitcoin has been operating.

The reason Facebook has decided to benchmark Libra is to essentially stop the volatility in the marketplace, in the way Bitcoin has been operating.

Libra is intended to address two problems: 1) banking the unbanked, and 2) facilitating global, low-fee money transfers. Libra operates on its own native blockchain and consists of a two-token system, a utility token, and a security. The utility token will be backed by a basket of low-risk, low-yield assets from around the globe.

Essentially, the biggest similarity between Bitcoin, Libra, and ZiyenCoin is that they will all operate on the blockchain, although due to their nature they will perform differently.

The main goal for ZiyenCoin is to provide a solution on the blockchain. Our goal is to list oil and energy assets on the Ethereum Network by tokenizing energy assets.

What this will do is add a new level of liquidity to the oil industry. Currently when oil projects get set up and people invest, whether you have a working interest in that project or you are an operator, your money is locked into the project.

Once we are able to have producing assets on the blockchain in tokenized form, it will allow people to sell or trade these tokens.

Essentially, we about to create an Energy Trading Platform on the Blockchain.

So, the company’s security tokens will be deployed on the Ethereum blockchain. ZiyenCoin is filed under the same regulation, as JPM Morgan’s, JPM Coin, Regulation D 506c Security Token Offering, right? What are the benefits for potential investors?

Yes, we have set up ZiyenCoin under the same regulation as JP Morgan’s, JPM Coin. J.P. Morgan is the first U.S. bank to create and successfully test a digital coin representing a fiat currency. The JPM Coin is based on blockchain-based technology enabling the instantaneous transfer of payments between institutional clients.

ZiyenCoin will initially act a digital token set up as equity backed token against the assets of Ziyen Energy. We will shortly have the Ethereum Wallet available for investors to hold the tokens, but under the SEC Regulation, there is a holding period of 12 months prior to listing on Alternative Trading System.

We will look to domestically list on platforms like tZero but are already started discussions with trading platforms in Dubai, Europe, and the Far East.

The initial launch price of the token is $0.01 for the seed round of funding. The money we will raise will be to complete the design of the Energy Trading Platform and buy additional production for Ziyen Energy to list on the Ziyen Energy Trading Platform.

We followed the pricing model of Bitcoin, and if successful, the company can provide a huge return for early investors.

In a recent press article, you claimed holders of digital currency can now invest in oil projects using Bitcoin, can you elaborate on this?

It was another fundamental development for the company, as we are now capable of accepting Bitcoin and Ethereum Cryptocurrencies as payment for ZiyenCoin. This service is enabled by Prime Trust, LLC., a Nevada registered company providing custody, trust and escrow services.

It is a critical move in the evolution of our company as it joins the emergence of oil and energy digitization and Security Token Offerings.

With Prime Trust’s transaction technology, you can now invest in Ziyen Inc. with minimal friction, regardless of whether the investor is remitting funds to escrow via wire, ACH, check, credit card, Bitcoin or Ethereum.

One Bitcoin gets you a million ZiyenCoins, now I can’t promise the value of ZiyenCoin will go as high as Bitcoin but if everyone knew what they knew when Satoshi Nakamoto invented Bitcoin, would you have invested when it was just launched.

I am a student of Satoshi. He invented Bitcoin but he also invented the blockchain, and under this new SEC Regulation, ZiyenCoin is a hybrid model and if successful can have a profound effect on the energy industry.

Tell me more how this Energy Trading Platform will operate?

The blockchain is about streamlining information and solving problems. We have decided in order for this to happen, we need to launch a subsidiary of Ziyen Inc. which is ZiyenCoin.

By creating Ziyen Energy Trading Platform, this will allow us to achieve our goals. It also stops the confusion of everyone thinking we are launching a differentiated form of Bitcoin.

We are fortunate to be in the position we have our own oil assets to test on the Ziyen Energy Trading Platform, and essentially Ziyen Energy will be the first customer on the trading platform.

Right now, in oil projects, whether you are the operator or have a working interest in this project the money is locked into the project.

By tokenizing the producing assets on a trading platform and then allowing people to trade these tokens creates a new level of liquidity to the entire industry.

How have others attempted to solve this problem before, and why did their solutions succeed or fail?

People have attempted to launch an oil and gas cryptocurrency in the past, benchmarking against barrels of oil and for it to operate similar to a stablecoin.

The oil industry spends approximately $200 billion per year in banking charges and cross-border transaction fees. The industry is worth over $5 trillion per year, and to put that in perspective Bitcoin would have to rise to $250,000 in order to have the same industry valuation.

Now you can see how big this industry is. When we wrote our original white paper, we also spoke about saving the $200 billion, and the creation of a coin or token to save this transaction fee seems simple, and essentially should be achievable but it will all come down to adoption by the major operators.

As I delved deeper into the space and became to understand the magnitude of the task in front of us and with the multitude of major operators earning in excess of $500 billion, then how can I get everyone to adopt one digital currency.

It made us reevaluate what is the problem we are looking to solve and come at it from a different angle.

If we can create an energy trading platform, utilizing an energy utility token, where both small and large operators can benefit in listing their producing asset on it and which can be traded — may be the first stage of an energy cryptocurrency that will allow these tokens to be traded on a project by project basis on the blockchain.

Shell will trade Shell Energy tokens, BP will trade BP Energy Tokens, Exxon will trade Exxon Energy Tokens.

We will unlock billions of dollars for the entire industry. This new level of liquidity will transform the industry, and Ziyen will be the developer of the Energy Platform utilizing the Ethereum Blockchain.

Great! Thank you, guys, for all the answers. For the next part of the interview, we are going to discuss the mechanics of how the Ziyen Energy Trading Platform will operate, future milestones and the key partners involved.

We wish you all the best with your project. One last thing, is there anything else you would like to share with our readers, perhaps some advice and where can we follow your project development?

Please visit our website www.ziyen.com for all of our latest updates, video blogs, investing options and we are active on social media where you can find all the latest updates with the company.

 

Source: ALTCOIN MAGAZINE

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