Frank Erik Banks takes tech innovation seriously. A serial entrepreneur, Banks is always looking toward the future. His latest venture is ZEN, an app that lets teenage fans of pop culture share short videos and chat with their peers, among other things.
ZEN stands out because it is disrupting viral video on the blockchain and empowering and protecting content creators. It allows content creators to make a profit through digital money via the company’s new ZENCoin cryptocurrency.
“I have been working with young people in this space for more than four years now, and with this app I fulfill there needs to have a platform to create while also giving them the opportunity to make money,” says Banks.
The app operates on top of the ZEN Foundational eXchange (ZENFX). Built on the blockchain and using the company’s new ZENCoin cryptocurrency, ZENFX enables creators to make money through peer-to-peer transactions as well as audience- and advertiser-driven programs in an unprecedented offering.
“We are different because we are putting creators at the heart of this business,” says Banks.
When there was some pushback about his newest venture, Banks persisted and launched ZEN. Remember the short-form video sharing platform Vine? It takes that concept even further. And despite the naysayers, ZEN has attracted hundreds of everyday investors. ZEN aims to be the world’s first SEC-compliant pre-ICOs, using a StartEngine Reg A+ campaign for equity crowdfunding.
Banks is banking on blockchains. “Blockchains are changing the way we do business. The technology allows you to create new types of business models,” says Banks.
So far, on iOS, ZEN’s app has more than 40,000 highly-engaged superfans who use the app to create and share short-form, viral videos with other people in their fandom communities. The platform has more than 8 million video views.