I love this question, although to answer accurately requires a very complex answer.
Remember, we are releasing information on 9 new products publicly and working on others behind the scenes. These products fall into three major categories: government, commercial and consumer.
From a business standpoint, as a whole, we have competitors in a number of industries. The thing to remember, however, is we are never going to spend resources developing a product that is not better than the best solution available at that time. Everything that we have designed has been designed in a way that improves on existing solutions. Apollo has given us a truly remarkable leg up on nearly all of our blockchain products, not just because of its speed but also sustainability. Sustainability is critical in the government sector specifically, which limits competing solutions drastically.
From a category standpoint, we have no blockchain based competitors within the government solutions category. We are the only blockchain company we are aware of that is currently designing the solutions we are designing.
On the commercial side, Ripple will be our main competitor. We are better for a number of reasons, however, all of which will be revealed with our new products.
On the consumer side, we have to obvious products that everyone knows about, such as the CEX. Regarding the exchange specifically our biggest competitors are Binance and Coinbase. We are implementing a great number of things that will make us much more attractive than either and realistically even both combined. A few of those things are physical locations, a customer service team equipped to process KYC and user requests near instantly, better UI, regional bank accounts for instant deposits and withdrawals, significantly more fiat options and much more that will be revealed soon.
I will go ahead and release the hint regarding our new product here as it ties in nicely.
As far as the overall vision, we are designing Apollo Fintech in a way that every product we add increases the overall value of all the others.
The thing that gives us the biggest advantage, and ties much of what we are doing together, is our new product, which has been confidential until now.
What Apollo has been commissioned to do with Blockchain, this new product will do for the internet. Together they will be a very powerful ecosystem providing a large number of solutions and services, both centralized and decentralized. Once we have fully finished development of both it would be easier to list who we are not in competition with than to list who we are. Unfortunately it’s impossible to explain why we will be significantly ahead of the competition without revealing more information, but I can say there is no product on the market that is similar to the vision we have for this new product.