EVDC brings cryptocurrency payments to EV charging

0:43into all those questions okay perfect so we built a charging app that allows you to charge your car using traditional forms of payment but also crypto which is basically our crypto token that we've launched and built and allows you to go in anywhere in Europe and top up your vehicle or get a full charge or even like go on a

1:07full road trip and only charge your car using cryptocurrency or Fiat if you want and we've also made an app that's that's very very complete it has a lot of charging points most of them are on there very fast unlocking speeds for the Chargers like every every problems that we see that were in the mobility world the ownership for charging

1:33and the whole infrastructure we're trying to create solutions to that so that we could strive in into that domain so yeah it's really interesting and I want to dive a little bit more into those problems I feel like there's thousands and thousands of people that have been considering you know getting an electric vehicle or getting a Tesla

1:55and they it sounds good in your head but I'm sure you know there's intricacies to charging efficiently or you know what are some of the main problems with you being indry when you have an electric vehicle you have to find a spot and the cost of it and what else is consideration so if you have a Tesla for example it's very the own ownership experience is completely different than

2:19if you have a like let's say a Mercedes or an Audi or a Volkswagen you know or scoda so if you have a Tesla you just go on the map and you put a destination then tells you where stop you just plug in and the charger works and that's it if you have let's say a Mercedes or an Audi and you live in Europe you have to find your your your your charging stations and the

2:42Mercedes doesn't have a direct connection with the charger so you need to have a form of authentification so either a card or you have to go through an app and then you have to have a form of payment and then sometimes the charges don't work and they're very slow to like get going sometimes you can wait up to 10 minutes and the charger

3:03still isn't even online compared to like a Tesla you just plug in you wait 30 seconds and charging has initiated like the handshake is much faster with Teslas because you just plug in and stuff and it charges but for the other EV owners it's more of a pain it's more painful because it's it's it's longer delays you have no accurate information about where you're going

4:15we're constantly trying to improve the next quarter and the next quarter and so on that's amazing and yeah I that it sounds like a horror story you know you pay so much extra you're you're owning a Mercedes you know it's new electric and then it's like such a worse experience than just getting gas obviously there's room for improvement and that's where the entrepreneurs come

5:00landed in Europe you live in New York you fly to Paris and you land it in Europe and there's only electric cars available at the rental counter or at the airport so you get an electric car and they don't tell you how to charge it they just give you a little magnet and say oh you know scan this on the reader and we'll bill you know they don't tell you how much per

5:20kilowatt they don't tell you what's the administration fees for all every charging session they don't tell you anything they just say and this magnet that they give you let's say if you go to Herz they don't provide you with the locations you don't know where you're going you don't know where it's compatible or not you know they say oh it works at all the Shell stations for

5:39example that's what they told me as a as a as a like my experience and you know you go there and you know there's a little box a little very old charger and this magnet works there so you're like okay let me try and then you tap the magnet it gives you 50 kilowatts an hour you wait like an hour to get charged an hour and a half half compared to like if you would have

6:23click on the charger start charging and that's it you select your form of payment and within 5 Seconds the charger is already unlocked ready to plug in and like you could literally download the app now like this specific second and in half a minute you're ready to charge that's awesome and now BR to the point of other charging apps where they ask you to order cards you have to wait

6:49by the mail you have to sign up full sign up verification and everything you know so yeah no it's it sounds like a major Improvement and you know I don't own an electric car but I have rented one by before and you know when you when you first get it you sort of feel clueless it's like you're like pumping gas for the first time you're like well how does this all work and like it's a

7:08little even for technology people it's a little bit intimidating so you know I could definitely see how this would make it easier I think it's easier than pumping gas once you get the hang of it because you don't have to go and pay and whatever it's all taken from your credit card or from your token balance you know but if you're looking at it

7:28we're we're trying to make it easier than pumping gas that's if you if you notice like like by doing a guest user interface we're taking a bigger risk because we're allowing people to not verify their identity and you know some people can use like not not very good credit cards like frauded credit cards or like you know it will it will work or will not work depending on our

7:51processing partner but what I'm saying is we're taking the risk to make a step forward in that industry and to give people a truly seamless experience and yes we've had issues yes like everybody we've had issues and we're working on fixing those issues but the way I see it is if we didn't have those issues we wouldn't know this would be a problem and we wouldn't fix it so

8:16we're just constantly making the app better so that it's it's just let's say somebody that downloaded the app today would have a completely different experience a much better experience than somebody that downloaded the app a year ago so you we're improving in the right the right Direction and I think that's the only way to maneuver this kind of

8:36venture you have to go through all these hardships and yeah it's it's techn it's a new technology it's everything's new and we're building in something like we're creating the route we're building it we're making the we're building it from the from the ground and up so yeah and I feel like the you know I depending on what city you're in I see a lot of electric

8:58vehicles around but I still feel like you know if you look at the whole world there's still such a small percentage so to be building this kind of company at this stage you know the market is probably eventually going to be you know everybody that owns a car depending on your time frame of when you see more electric vehicles coming in you know

9:24what do you guys look at as like the target market and the road map compared to the adoption of electric vehicles versus gas vehicles in the certain countries that you're targeting first well my target market like we have Europe okay you look at Europe the average consumer looking for a good pricing looking for fast app you know a

9:48fast app easy to use no bugs no errors correct pricing per kilowatt and then you have let's say the other Market which is like let's say Asia where it needs to be much much cheaper in some areas but the there like you have also much different electric vehicles you have electric vehicles you never heard of like coming from China like under 10,000 $15,000 there's electric

10:14cars there so you have a also electric scooters that are focusing on level two charging which is like let's say 22 kilow and under those those are are are good it's a good Market because it's a lot of volume so for us it's we're tapping into that market slowly but initially sorry eventually we have to be fully deployed in that market and the goal is to get full full

10:39full adoption in Europe full adoption in Asia full adoption in the American North American South American territories and then you know make it very good very coste efficient very fast and then with the peer-to-peer Network which is our own charger that we've built people can go and add to the network buying a charger and add it to the network and then eventually we have

11:06a network built by the people for the people and then we're Global and then you know we have to just keep improving keep making it better you know new ways you know it's like it's endless there's always a better way there's always a way to make it better always you know it's just a lot of people onboarding at the same time we have issues with our server

11:27we have to upgrade the whole infrastructure of our back end and that was that was a tough one but now it's done so thank God but it's always going to be like always going to be stuff to do and always we're trying to do them before the they need to be done you know what I'm saying we're in terms of waiting for something to happen and then you know you lose a lot of momentum

11:50but you do it before so it never happens people on the app you know they use it and they don't see any issues and that's perfect it's like uber you use Uber every day but you don't know what kind of issues they're MH they're having their back end you know so that's I think that's technology man it's like that's the way to build technology it's really you hit or you miss

12:11and costs a lot of money it's very very costly and there's no way around it so yeah no that's a great point and I like what you said about the Asian market there's definitely lower cost electric vehicles coming out I think you know people in americaas they you don't know exactly what's going on but I feel like they're very up and cominging

12:36and also the part about the scooters you know I've I've been to some Asian countries and even in Europe and everywhere you're seeing these scooters on like every corner it's like there's almost too many there's like 10 per person and those need to be charged as well and that's actually a really good Market on top of cars so I'm glad that you mentioned that those those

12:56those there's numi there's a lot of you know okay you know let's say in India okay you have all these electric scooters beep everybody's driving the electric scooter and you know they're they're gas powered or whatever type of energy they use I don't think they use diesel I think it's only gas powered and now these scooters are slowly becoming electric most of them

13:17are coming electric like you want to buy a scooter people don't buy any more gas they buy an electric it's the same price and some are even cheaper right if you want to buy a Yamaha scooter it's let's say it's 3,000 us but you buy electric scooter is 1,200 us 1,200 sorry 1,200 and it's electric and it's cheaper but you know these people need to charge

13:38these scooters so same old thing for them instead of going to the gas station they stop at a you know in front of a department store or a little you know in a village there's those little electric scooters because electric chars because they run on 117 or 22 Kow so it's very easy it doesn't require that much infrastructure to install a charger so you know they charge and

14:00let's say it takes half an hour I think to charge a scooter it's a it's seven or eight kilow hour battery so and then they're done and it's much cheaper than than than gas so I see a market and I'm very very excited to get into this Market I'm trying to get into this Market before the end of 2024 and also other things that we're doing that are very exciting so

14:23you know it's very it's a very promising industry but you have to be ahead of the curve and you have to be very very diligent any mistake can cost you a lot it cost you momentum it can cost you money because if people go and they charge and there's an error on your app with the operators you're gonna have to pay for that power so yeah and now speaking of chargers you

14:45mentioned there a few answers ago about having a charger from the company as well so what's the status of that does the team have its own charging Hardware that's going out physically around the world we HED a Engineers we've designed our chargers and now we're in production so which is very good us as a company we're we're starting to deploy Chargers level two

15:10Chargers and but also people can deploy their own level two charger if they want in front of the store in like they're going to start to deploy in front of stores in front of restaurants hotels in front of the like the partner stores as I was saying but I think slowly slowly it's going to become a thing where people are going to put a charger in front of their house and

15:31people are going to come in charge to it so just needs to become a normalized thing because you know you don't want a stranger pulling up to your house you know same as Airbnb used to be like oh you're going to rent in your house now it's became a normal thing that's going to become a normal thing you monetize your Char why not and it gives people you know a way to earn you know if you

15:51live in a very very fancy area let's say a remote and fancy you could go and you could charge up to a dollar a kilowatt you know it could be very lucrative for you as a person let's say you live next to a you have like let's say a chalet or you know a cabin wood cabin next to a ski Resort or a ski location or somewhere people go to have vacation you could put four or five

16:17Chargers it's going to cost you like less than $5,000 and people are going to come there and charge you know and you could make a good amount of money you know yeah know that's a great that's a great business idea and it's also helps de centralize the network more and yeah I think just as people you know thought it was crazy to get in a stranger car before Uber after a decade

16:37it becomes so normalized that they prefer it you know and they're just going to prefer convenience of hey I'm parked outside the Chalet yeah you could be anywhere and have an Uber come pick you up literally you don't have to wait see before you to call the taxi company and then wait for them to send you a now you have a guy that's a minute away come pick me up but as long as

16:57those people those d are verified and they're safe you know same thing with the Chargers you're not going to go charge at somebody's house if it's not considered a safe location so before activating a charger we're going to do our like our diligence there's a screening process it's not just like oh hey you get unless it's commercial on a public space then it's fine you know

17:19yeah know that makes sense and you know speaking of the cost of it you talked about paying through the app and then there's also paying with cryptocurrency and of course there's going to be Fiat as well but there are cost advantages and maybe other advantages to actually working with crypto and block the app can you talk about that a little

17:39bit Yeah so currently the how how the stock is on the app if you download the app and you pay with your credit card you pay cost price per kilowatt so basically what we pay the operator that's what you pay so that's we let's say in a month we start buying much much more kilowatt from that operator we get let's say 15% discount that's why I keep telling people like we need to like

18:06the more utilization the cheaper the prices are going to be because let's say total energy if we buy over a million kilowatts a month we get 50% rate production on the kilowatt hour price so you pay cost price on the app so let's say you fill your car 10 kilowatt let's say you buy and it's 50 cents a kilowatt so it's $5 all right so how it works that's what you pay plus a

18:31session fee so if you're going to charge a car for 30 minutes on a DC fast charger you're going to get let's say 50 kilowatts you're going to pay a session fee of $299 on top of the cost price and we've done the m a million times it still is cheaper than just paying the regular rate of another app or B to the operator because the regular rate of the operate is like 30% more or

18:58other apps they're chargeable if you pay with evds tokens there's no session fee so you just pay the cost price so you pay 30% off technically if you're looking at it that way sometimes more sometimes less we're introducing something where on level two Chargers the session fee will be much less like a dollar or less because the ratio of let's say you're getting five kilowatts

19:22or 10 kilowatts and you're paying 299 on top makes no sense we're improving from on that end anything under 22 kilowatts is going to be a reduced session fee because it has to be fair to everyone you know not everybody's comfortable jumping into crypto right away right even if they save the session fee it's for them it's like crypto it's new everything new in

19:43PHR you need to like slowly slowly get them in incent give them incentives to do it to change and then slowly slowly you know they'll change so you know constant Improvement like as I was saying before we weren't thinking that the 299 session fee for slow charges like slower sessions where you get much less kilowatt in your session the 299 session would be a problem but now we

20:09realized it is so we're we're improving that hopefully by Monday we'll we'll have a next week Monday September I think 24th we'll get a an update on that so that's great yeah and that makes sense especially if you're charging a scooter or something down the road that's that's you know doesn't cost money to fill it up to 100% charge you're going to want a cheaper

20:32fee and on the crypto part it's great savings but also yeah there's that adoption curve but from what I understand you guys have built in like a Fiat on andof ramp or a way that you can just buy it within the app so you know you don't have to go to the crypto exchange and do all these other things to be a crypto expert just to pay with crypto no no I'll explain to you just

21:41now you're gonna have 42 for example so it's almost as simple it's an extra click but you save the session fee that's why I always recommend people to you know take 10 seconds and learn how to buy it you could sa the session fee the credit card is the credit buying process you just put your credit card you go into session start a session or select the charger start a session and

22:05you get deducted a 50e authorization and whenever you're done the this the whenever you're done charging this 50 is return and then you charge the proper amount and if the charger doesn't work it's just to be clear if the charger makes an error whatever and you can't charge the 50 immediately reimbursed within seconds so you get it back right away start another

22:28session it's not addition and then you have to wait 24 hours back it's immediately released it's just a hold it's not a charge we just hold it and then it's released so that also something that we've improved compared to other operators where they charge you to 50 you just hold it that's good to know and on the crypto side and the blockchain side I'm curious

22:50is there a specific blockchain that you know is the underlying technology that team is chosen is like hey this blockchain works best for this not really no well etherum before of the gas fees that's why we moved to BNB but now we're going to move out of BNB and we're going to for our own blockchain that's be announced shortly but we're just on B&B currently because of the gas

23:14fees the fness also the a lot of people had B&B when we project a lot of people were using B&B but now there's so many cryptos out there and we don't want to be part of an ecosystem we want to be our own so we don't want to be want to the blockchain so that's the next the next plan that's in the works that we're going to announce shortly as

23:35well but it's very very sensible and touchy because we are finding ways to accommodate everyone so you know it's it's it's always when we're going to jump into a new like chapter of the project it's always going to be a bit confusing for people but eventually it we're doing this for the best of the project we're doing this for ad option so and also more control from

24:27ecosystem so yes that's the answer that's great I'm looking forward to seeing the blockchain and how it works and the extra advantages and speaking of the future and the road map is there anything else that you'd like to mention about you know the road map for the end of 20124 and into 2025 what are some of the main goals that you and

24:48your team are trying to accomplish well faster up more charging Point hopefully released India Asia you know that kind of Market tier one exchange we already on a tier one but we have more exchang listing is lined up we're just waiting on some confirmations from our end where else marketing push really we've we're starting the marketing we've released like seven

25:14eight videos this week influence was released and also you know we're on the show with you so you could also see that we're doing a good marketing push we're really trying to get in the top I don't see any reason why we shouldn't be in the top top thousand cryptocurrency projects like then a top 500 eventually hopefully top 100 so I think that we're we're very very

25:37undervalued project at the current moment I think because we went and we've built the app and you know the crypto promotion the crypto marketing was you know people have to hear about this right so in order to want to either buy it or use it so now that the app site is very complete and very you know bulletproof we've used where starting to use a lot of our resource to promote

26:01the usage and the utility that's we're at this phase of the plan right now that's the part like that's the chapter we're at promotion adoption marketing Billboards you know all that kind of stuff so that's the step we're in right now we're in that process you know so have some goals to meet so we have targets and we're trying to reach our targets for this quarter so that's where

26:26we're at very cool Matthew well thank you for all the information on electric cars charging you know I'm one of the people and I feel like there's so many that are interested in switching to Electric still there's still so many that you know are coming into the market so I'm wishing you and your team all the best in the growth and I am

26:47expecting in the coming years it's only going to get bigger now what is the best way for people to follow along with those updates that you're talking about and I'm guessing downloading the app is the first way and if there's any other communities where most people can go and talk to each other that are using the app yeah telegram you can go

27:31that can see what's the progress of the first interview so agree and yeah I can leave I'll leave the links in the show notes for the viewers as well I'm wishing you guys all the best on these updates looking forward to more adoption your own blockchain and growth of electric vehicles and clean air to breathe while we're driving around as well so all the best Matthew