Month: July 2020

The current world situation has forced people to confine themselves to their homes, but CEEK.COM provides us with the opportunity to fully experience virtual reality and attend a wide variety of events. On July 26 CEEK conducted an AMA with Satoshi Club. Our guests were @JustAC4t, @Ceeker1 and @T3brown.

The total reward pool was $800 and it was splitted into three parts.

In this AMA Recap we will try to summarize some of the most interesting points for you.

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PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Irina K.| @Satoshi_Club: Hi everyone, welcome to another episode of Satoshi Club AMA series. Welcome guys. Glad to have you as our guests. 😊

CEEKER1: Thanks for having us looking forward to it. Glad to be here.

Serg | Satoshi Club: We are glad to have you here 🙂 Please tell us a bit about yourself and how did you start the project?

Irina K.| @Satoshi_Club: Who’s gonna start? @JustAC4t @Ceeker1 @T3brown we need a volunteer 😊 Please tell us a few words about yourself.

CEEKER1: I’ll start, I’m a Deep Space Engineer. I started out working on satellite design for companies like Boeing, Intelsat, Aerospace Corporation etc. I created several streaming protocols for satellite communication including 4 novel satellite live streaming innovations that I sold to the Boeing company. I worked with Boeing to develop the Digital Cinema Technology used by Lucas Films, Universal Pictures and most film studios. So streaming isn’t new to me, I’ve been doing it for a while, it’s just that now am applying blockchain technology to streaming to ensure trust and blockchain.

I’ve worked with probably all top 10 tech companies. I created CEEK because I saw an opportunity to democratize and decentralize knowledge transfer and also open up a new revenue pipeline for content creators.

Serg | Satoshi Club: That’s impressive 🙂 any contacts with SpaceX?

CEEKER1: Yes, but nothing I can discuss yet. 🙂

AC The Somee Ceeker Presearcher: I am a marketer, activist and writer for numerous online publications. I got involved with CEEK during the tokensale. I support Mary’s vision for helping the world with VR through education. The entertainment is nice but VR can change the world.

Ceek Admin – Tina Brown: My background is telecom with companies, such as 3, also companies such HP.  I also support Ceek’s vision of world the changing world through vr and Blockchain. Exited to be here.

Serg | Satoshi Club: Thank you for this introductions. Really impressive work. We have collected questions from the community. Are you ready to start discussing them?

CEEKER1: Ceek is actually a play on the word seek. To ceek knowledge, content etc. Yes we’re ready.

Q1 from bitcointalk user albert3990

The ceek project has partnered with universal music. Can you clarify how remuneration of the token holders occur, if there is an event; part of the money of this event go to holder? For example, in stock market the holder win dividends from the part of profit of the company.

CEEKER1: Users buy the ceek token to use for events and also digital assets, the value increases as there is supply and demand. It’s supply and demand. Artists have billions of fans, entertainment is ever green so people will always be looking for concerts, performances and the like if you have billions of tickets to sell and limited supply the value continues to increase, that’s just economics. So we are not paying dividends to buyers of the token. All events on the platform, livestreaming, VR 2d etc.

Irina K.| @Satoshi_Club: Unlimited number of tickets in the front row 😊 Sounds good.

AC The Somee Ceeker Presearcher: CEEK is agnostic it works on a number of mediums including even Smart TVs soon. 🙂

Irina K.| @Satoshi_Club: You might want to reconsider this. I’m sure religious people will show a great deal of interest to this kind of technology for their events. 😀

AC The Somee Ceeker Presearcher: Good joke.

Excited about all the ongoing integrations of the CEEK App and Tokens. Destination = 1 Billion Users 🚀  🚀 🚀 🚀 New Crypto Users. 😀

Q2 from bitcointalk user juanes

I am guessing that VR has become more popular in this pandemic times. Can you tell us if the market share of VR events has grown now? Have you observed more demand now for your services?

CEEKER1: For sure. Last Quarter alone the industry has lost billions. What does a global multi-billion dollar industry based on live events do when there are NO live events? THEY COME TO CEEK. Now you can imagine with Covid things have gone through the roof as people can only attend mainly virtual events and CEEK’s VR platform allows them to experience the communal energy of attending a live event virtually.

We’ve had Bon Jovi, Ringo Starr, Dwyane Wade and much more using the CEEK platform in addition to the other megastars already on the platform. CEEK is now a “trusted voice” providing a streamlined content monetization solution for the biggest names in music sports and comedy, they clearly understand the CEEK value proposition now.

https://people.com/music/demi-lovato-bon-jovi-jessie-reyez-release-virtual-concerts/

Serg | Satoshi Club: for Bon Jovi I will use CEEK for sure. 🙂

Irina K.| @Satoshi_Club: So when we’ll want to have an AMA with Bon Jovi we know whom to contact. 😊

AC The Somee Ceeker Presearcher: Don’t forget Ziggy Marley performing Bob Marley’s songs for his birthday that’s epic!

Ceek Admin – Tina Brown: https://www.rollingstone.com/music/music-news/ziggy-marley-livestream-concert-bob-marley-1030928

Irina K.| @Satoshi_Club: @Ceeker1 in the near future we’ll be your clients for sure with some virtual AMA events.

Q3 from Telegram user @Ade061

CEEK E-Merch Store recently went LIVE. Can you tell us how this store works? How can users enjoy it and participate in it?

CEEKER1: We did a Beta test of the cryptoshop platform which accepts Eth, Ceek and other coins. Currently the focus is on the Virtual streaming since the demand has sky rocketed. The store will be back again towards end of the year, though currently we have a few items you can still get through the app and on www.ceek.com Our main App is the Blockchain based streaming App.

Q4 from Telegram user @Aleurich

What is different about 4D Headphones from the headphones that currently exist on the market? Can I use them outside of the Ceek platform?

AC The Somee Ceeker Presearcher: Say Hello to the World’s First 4D Advanced 360 Audio Headphones for Virtual Reality, Gaming, Music, ASMR, Movies and More

CEEKER1: It’s completely different in the sense that it produces omnidirectional sound which didn’t exist before VR.

Serg | Satoshi Club: Can you explain for newbies like us what is omnidirectional? 😁

CEEKER1: It’s great for VR but works really well with music, sports and much more.

Irina K.| @Satoshi_Club: Could you give us an analogy? How does it sound like?

CEEKER1: Sound that you can hear above below and all around. Even behind you. IN gaming audio cues are very important and the Ceek headphones allow you to hear in every direction. We recently optimized for Fortnite and are one of the few that is highly compatible with the game’s 3D mode. So it’s like watching a 3D movie without the glasses, the 360 headphones complete the experience.

Serg | Satoshi Club: Optimizing for Fortnite is awesome. Good adoption opportunities.

AC The Somee Ceeker Presearcher: Basically it’ll make you feel like you are there.

Q5 from Telegram user @Gladushka

Ethereum has a scalability problem, and high TPS is required to deliver VR content. How will you solve this problem for mass use of CEEK?

CEEKER1: The challenge was building a solution that would scale on the Ethereum network and is fast enough to record transaction to the Blockchain in the matter of seconds without exorbitant gas fees and costs. In order to combat latency from bottlenecks on the Ethereum Network we created a CEEK custom sidechain solution that makes it possible for users to instantly access content without having to wait minutes depending on congestion on the Ethereum network.

We’ve partnered with Microsoft Azure. The Azure Blockchain provided tokenization and transaction signing which helped speed up development, reduce latency and ensure security since we are storing user private keys on their network. We are working with the Azure Blockchain team to develop the Streaming Token template and custom solution for Subscription Access Control and Viewership Tracking.

Serg | Satoshi Club: You’ve found a great solution. Hopefully ETH 2.0 will be released soon to make it easier for all projects on ETH. 😁

Irina K.| @Satoshi_Club: So is it a custom Blockchain or it’s still built on ETH?

CEEKER1: Yes, it’s still on Eth the custom chain allows us to offer instant access to the content without any latency. Users want to access content right after payment not wait for few minutes they are not used to that.

Irina K.| @Satoshi_Club: And the solution that allows this is still decentralized? Or is some hybrid?

CEEKER1: I shouldn’t 100% since it’s a bit of a variation, necessary to bring mainstream adoption.

Q6 from Telegram user @boresen

Do you plan to work with movie directors/Hollywood, to implement the movies of the future in VR? There is no need to go to the cinema in my opinion if you have a VR option which is viable.

CEEKER1: We have been approached by major movie studios since they really need to rethink physical releases. When you think of CEEK we are actually building the gathering places and venues of the future. So there will be movie theatres, Schools as well. We are not just selling virtual tickets we are building the gathering places and venues of the future, so it’s Ready Player One come to life. Not only are people attending events, but they can also hangout, classrooms and more. Here are a few of the venues on CEEK.

Music and education are core to us now, but all facets will quickly follow. Sports etc.

Ceek Admin – Tina Brown: https://twitter.com/CEEK/status/1286970081264771072?s=20.

Serg | Satoshi Club: So, the next Matrix movie will be on CEEK. ❤️

CEEKER1: Hehe. we are in the matrix it’s happening.

Irina K.| @Satoshi_Club: Maybe not the movie. 😊

AC The Somee Ceeker Presearcher: I thought we were living in 28 Days Later.

Irina K.| @Satoshi_Club: That was it for part 1. It was fun and informative. Thank you. We’ll open the chat in 1 minute for the part 2.

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PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

The chat was open for 80 seconds; a lot questions were posted by the Satoshi Club community. Our guests chose ten of them.

Q1 from Telegram User @xitrump

In CEEK’s whitepaper, I see that 60 million concert tickets are sold in the U.S alone per year! Demanding for music artists to perform is at an all-time high, yet artists are still unable to perform for thousands of the venue requests received each year. Leaving labels and artists with missed revenue opportunities and fans without the chance to experience live shows. Does the above matters increase demand for such platforms like CEEK?

CEEKER1: Yes, it increases the demand. Yeah, this is the crux of why we exist. Each year ONLY about 10% of the BILLIONS are able to attend concerts. For example, 10M fans attempted to buy 100,000 tickets. For Adele’s 6-Nights at Madison Square Garden. 1% acquired tickets, 99% of potential buyers left ticketless and disappointed.

Prior to COVID 19, there were 3.5 BILLION Live Event Fans Globally yet less than 10% were able to attend events due to travel costs, capacity and availability. There was no way to monetize the millions of fans who want to buy tickets or attend live events but are not able to do so.

Ceek Admin – Tina Brown: https://www.rollingstone.com/music/music-news/10-million-people-tried-to-buy-tickets-for-adeles-u-s-tour-34700/

Q2 from Telegram User @aldial

What are the benefits of EEK if you work with Microsoft Azure? And is there any influence on your platform?

AC The Somee Ceeker Presearcher: CEEK is working with Microsoft on many fronts. That’s all I can say. 🙂

Q3 from Telegram User @rinnguyen

Blockchain has many Disadvantages as well, how do you plan to merge Blockchain as well as existing Technology to make it more Secure?

CEEKER1: We are solving perhaps one of the biggest problems facing the streaming market today which is TRUST. Content rights owners such as record labels, movie studios and musical artists rely on reporting from streaming platforms as a trusted source of consumption data. This is a point of friction since rights owners have to blindly rely on internal data from distribution platforms that they cannot audit or verify for payment of content royalties. Our goal with the CEEK token is to make content consumption tracking transparent for content rights owners as well offer automatic payment of rights owners via smart contracts.

CEEK is now a “trusted voice” providing a streamlined content monetization solution for the biggest names in music sports and comedy, they clearly understand the CEEK value proposition now.

Q4 from Telegram User @CryptoDurden

According to a PwC report, the AR and VR industry was valued at $ 46 billion in 2019, and will grow 30 times by 2030. What percentage of the VR market can CEEK capture in the next 5 years? What is your strength in dominating this market?

CEEKER1: Our goal is at least 10% of the market in the upcoming years. It’s actually much greater than 46 Billion now.

Q5 from Telegram User @momfly

How will Ceek plan to dominate VR market?

CEEKER1: Today platforms like YouTube, Instagram and Facebook can play billions of streams, make money of the content through advertising, sell viewer’s data and not compensate the content creator. This isn’t right. Through CEEK I’ve created a platform that enables users to monetize their content fairly, equitably and transparently no matter where they are located in the world.  This is why many of the world’s biggest stars are on our platform. We enable content creators to create a revenue pipeline. Fans of our artists have billions of fans that in turn can use the CEEK platform. Making it a win.

Q6 from Telegram User @GoldRocket27

Why is your roadmap ending with Q4 2019? Do you have plans for the future?

CEEKER1: That’s an old site that was prelaunch. we are busy executing as you can see from the flurry of partnerships we have and the ACTUAL products that we’ve been putting out.

AC The Somee Ceeker Presearcher: In crypto you guys are obsessed with whitepapers and roadmaps but these are for projects that haven’t yet realized success. Simply put its just a place holder or a concept of what you want to accomplish.

Ceek Admin – Tina Brown: CEEK Virtual Reality Release New Content From Island Records Artists Jessie Reyez, Bon Jovi, And Demi Lovato

‘We Can No Longer Rely On Just A Physical Venue’: Mary Spio On CEEK’s Growing Market For VR Events And Devices

The Deals: Travis Barker’s DTA Records Signs TikTok Star Jxdn, CEEK Pacts With UMe for VR Concerts

Magic Gaming “CEEKS” Out Exclusive Fan Experiences with CEEK VR Partnership

CHRIS SPENCER TALKS ABOUT USING COMEDY AND VIRTUAL-REALITY IN TIMES OF CRISIS

Exclusive: D.L. Hughley Talks ‘The Laugh Experience’ and Adjusting Comedy to the Digital World

Ringo Starr’s Big Birthday Show Comes To CEEK Virtual Reality

Q7 from Telegram User @Majapahit12

How did the concept of CEEK originate and what is possible with the CEEK Blockchain?

CEEKER1: I created CEEK because I saw an opportunity to democratize and decentralize knowledge transfer and also open up a new revenue pipeline for content creators. Today platforms like YouTube, Instagram and Facebook can play billions of streams, make money of the content through advertising, sell viewer’s data and not compensate the content creator. This isn’t right. Through CEEK I’ve created a platform that enables users to monetize their content fairly, equitably and transparently no matter where they are located in the world.  I saw the tremendous opportunity that Virtual Reality held for entertainment (music, sports, comedy) and education, no one was focusing on that or had the relationships, passion, expertise or industry insight to make it happen.

We are solving perhaps one of the biggest problems facing the streaming market today which is TRUST. Content rights owners such as record labels, movie studios and musical artists rely on reporting from streaming platforms as a trusted source of consumption data. This is a point of friction since rights owners have to blindly rely on internal data from distribution platforms that they cannot audit or verify for payment of content royalties. Our goal with the CEEK token is to make content consumption tracking transparent for content rights owners as well offer automatic payment of rights owners via smart contracts.

Q8 from Telegram User @buduh11

What are your strategies in building a big and strong community? Do you agree that the power of the community will lead your project to grow globally?

CEEKER1: 1000% it a community driven platform that leverages the network effect.

Q9 from Telegram User @CryptoLove97

Currently, CEEK is Only Listed on Some of the Lesser Known exchanges. Do You Have Plans on Listing CEEK on Bigger Exchange Ahead Like KuCoin, Binance for The Benefit of CEEK?

AC The Somee Ceeker Presearcher: CEEK can’t discuss exchanges directly until listed. But we have been in contact with all the big exchanges they expressed interest in CEEK.

Q10 from Telegram User @Shungsan

Do you have any plans to attract non-crypto investors to #Ceek project Because it is the success of a project to get more investors who are still not in the crypto world? What are the plans to increase awareness around Ceek in non-crypto space?

CEEKER1: We have made it super super simple for non-crypto users to access the platform. This is how we are making mainstream adoption of crypto possible.

Serg | Satoshi Club: Thank you for your answers! We will proceed to the quiz part now.

Thank you for being here with us today! It was fun and very informative!

Irina K.| @Satoshi_Club: Great AMA guys. Thanks for taking the time to join us.

AC The Somee Ceeker Presearcher: Thanks for having us and it was fun. I am not a grumpy tiger so feel free to ask questions in @CeekVRtokensale we value our community and no question is a dumb question.

CEEKER1: Thank you we had an amazing time. Awesome. We are excited to be leading the movement to make crypto and Blockchain mainstream. We thank you for your support. Keep supporting us in making the CEEK mission a reality.

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PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about CEEK. A link to a Quiz form were sent into the chat. Participants had 10 minutes to answer. 500$ were rewarded between the winners with correct answers.

You can check the list of quiz winners here: https://t.me/Satoshi_club/178128.

For more information and future AMAs, join our Social Media channels:

English Telegram group: https://t.me/Satoshi_club

Russian Telegram group: https://t.me/satoshi_club_ru

Spanish Telegram group: https://t.me/satoshi_club_spanish

Telegram Channel: https://t.me/satoshi_club_channel

Website: https://esatoshi.club/

Twitter: https://twitter.com/esatoshiclub 

Our Partners:

CEEK VR (Official): https://t.me/ceekvrtokensale

We are pleased to announce our next AMA on August 1st 2020 at 02:00 PM UTC Time: Satoshi Club x Dext

⚠️Click to see the hour
⚠️Total Reward pool: $800

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Dext Telegram group

We will have the following structure:

Part 1: $150 /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 4 Questions will be selected from our website – please submit your questions in the comments section of this post. 2 Question will be selected from Bitcointalk thread.

Part 2: $150/10 users – Open chat for 80 seconds. You can post Max 5 questions. Dext Team will select 10 questions and answer them.

Part 3: $500 – A quiz about Dext

For more details:
Dext – @DEXToolsCommunity
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

All is not gold that glitters, but for SatoshiClub AMAs we choose only the best projects. And today we would like to tell you about the AMA session with our friends from Counos X. The AMA took place on July 24 and our guest was @Counosworld .

The total reward pool was 800$ and has been splitted in 3 parts.

In this AMA Recap we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&Bitcointalk community

Serg: Hello! Counos are our guests today. @Counosworld , welcome!

Counos Platform counos.io: Hello Everybody, Nice to be here with u

Irina Kravchuk: Hi @Counosworld. Thank you for taking the time to join us

Serg: We are glad to have you here. Please tell us a bit about yourself and how did you start Counos

Counos Platform counos.io: As everyone knew first idea of bitcoin was to facilitate transactions in solid way as money, but after period of time became more as investments

Irina Kravchuk: Not a bad investment I would say

Counos Platform counos.io: But in traditional business world stability is one of the important point to accept and deal with each currency it is s you know Swiss Francs is one of the most stable and strong currencies in fiat and so build up right place to growing business and wealth for citizen of swiss. And because We find out we need to build up community and base of the platform with infrastructures build up can empower the community and create wealth then start to build up the counos.

Counos name came from roman empire, that time one was name of one the currency

Serg: Nice background to start a project

Serg: were you working in the banking system?

Irina Kravchuk: Or did you have prior business/ other projects there?

Counos Platform counos.io: We are Swiss. Find out our country has a lot opportunity we can share to world and fortunately our government support blockchain technology. Find out it is best place to born the project counos.

Irina Kravchuk: Yes, that’s a huge advantage

Counos Platform counos.io: Counos never was an ICO and we didnot use any money for our developments from investors, all we build up with our own fund

Irina Kravchuk: Great job. That’s not very frequent

Q1 from Bitcointalk user idee002

I browsed through your website and noticed you have lot of stable coins pegged to the USD, EURO, GOLD etc but what is the difference between Counos Coin and Counos X? Is it like a dual token ecosystem you operate?
What are the utilities of both coins and what benefits do holders of both coins derived?

Counos Platform counos.io: Each of our coin has own nature and functions

Counos coin is a commiunity coin people can earn it base of the value to give to the platform and idea is to creat 15mil real in future be currency of the commiunity to exchange value and work to eachother. like virtual country. But counos x ccxx work exactly like bank system some how is a decentralized banking system . The counos gold is links to gold and has back 1 by 1 1with gold but this coin already out of our hand in perivet. group add deposit. the gold in bank and linked to the coin and they use for own businesses and they have no intrest. to give to publich

counos silver. going to be lunch in 2 week which have link to pension fund of swiss and each coin has value of 1 kg silver. and. exact amount of coins out has backed by silver and some how it is work like commodity

Irina Kravchuk: You have physical amounts of all this?

Counos Platform counos.io: yes

Serg: stored in the banks of Switzerland?

Irina Kravchuk: Where do you store it? If it’s not a secret

Counos Platform counos.io: and one of our plan is to run platform by crypto handel all stock via build up parallel platform by coopration with our asset managment company in swiss. it bring alot opportiunity and more adoption to crypto world.

Serg: That’s really exciting. It’s smth I didn’t hear about before

Q2 from Bitcointalk user gustafsson

On your website it is written that you can trade crypto with fiat. Nowadays you can do this on almost every exchange. Please explain how is it different from others

Counos Platform counos.io: as you can see only few exchanges have possiblity to get fiat direct to accounts and many accept just credit cards with high fees via intermedite companies because we are regulated and have direct access to our bank accounts by buy and sell counos x give opportiunity. even other crypto exchange by useing counos x solve deposit problem, also by our decentralized exchange because. base of multi signoture wallets.

Irina Kravchuk: You plan to list counos x on more exchanges?

Counos Platform counos.io: can sure no fraud. can happend

people can directly transfer money from private to private and so. they can act even as local exchange. by own fiat currencies in any part of this world ,1 of agust going to be list in lbank china.

and. we plan to list in some exchange in korea japon uae but important is any of this exchange should have access to fiat, so industries. can use. coin for issueing. Invoices

Irina Kravchuk: So this is how you choose the exchange? If it has direct access to fiat or not?

Counos Platform counos.io: if. exchange be regulated and can in local. accept fiat direct to own account, choose right exchange it is not easy. As. you remmber IDAX from china. With mogolian company regiestration. They. cheat. us and we lost. more then 2000000 usd direct. there and they scamed. many other. And because we. try to find out more regulated exchanges and try to proof the owners..… we need build up more trust in crypto world not just be place for. scamers and people. quick want to take moeny form packet of other

Q3 from Telgram user @cryptomonkss

How are the people from the community participating in the decision making. Do they have right to vote or make proposals?

Counos Platform counos.io: we are in process to build up our business clube and for. business clube commiunity members going to build up the government. And. our future plan is to build up virtual country and swiss system. And definatly. in our home country our people. govern the country and we try to use same model

Irina Kravchuk: So you want to build a virtual Switzerland?

Counos Platform counos.io: yes, we can, we have everythings for it

Irina Kravchuk: Could you give us some tips on how the community governance will work?

Counos Platform counos.io: so we can build up strong economic system to create wealth and prosperity and base of what. we create and get support. from commiunity. can protect our people too in all part of the world by right service. right insdurace, right investment, jobs ……

Irina Kravchuk: Even jobs? That’s an ambitious plan

Counos Platform counos.io: sure. if. commiunity. build up base. of. diffrent businesses the need people work on it the have products. to sell and so can offer. opportiunities to commiunities and commiunity can get. job sell to each other products

Irina Kravchuk: Yes, that’s true. There will be a lot of new jobs in the near future.

Q4 from Telgram user @peterthesaint

In order to release the funds from the escrow, both the buyer and the seller have to approve the transaction. What if the seller provides a good service but the buyer abuses and refuses to release the funds? Do a third party step in to solve the case? Thanks

Counos Platform counos.io: In each escrow exist clear contract and escrow agent just base of this contract can judge. No other way exist

Serg: So, everyone is secured

Counos Platform counos.io: Sure. Even if both parties they want to have other escrow agent.

Then escrow agent can apply in counts platform, to be on board but need to be legal lawyer with license in his own. Country or notary or escrow licensed firm or person.

Irina Kravchuk: So not everyone can be an escrow agent? Only people that have licenses for this kind of activity?

Counos Platform counos.io: yes. We try to build up platform be solid and functinablee.

Q5 from Telgram user @AndrySTP

The Counos platform has an asset digitization feature. Can you tell me in more detail what assets and products you work with?

Counos Platform counos.io: You can check this link https://www.counos.io/securitization-of-digital-assets . We can digitalized all kind of legal asset. List gin swiss stock exchange, get ISIN no

till can buy and sell as etf world wide via banks and it bring more transparent system.

Serg: Can you explain for our community what is ISIN?

Counos Platform counos.io: https://www.counos.io/counosx-isin, Counos X, ISIN: CH0507008651, International Securities Identification Number.
An International Securities Identification Number (ISIN) is a code that uniquely identifies a specific securities issue.

With this no you can go to any bank in this world and ask from broker the bank to buy this certificate like you buy stock of microsoft or apple or any other.

Q5 from Telgram user @GoldRocket27

Explain how Counos DEX interacts with Counos Gateway. Can it be called a decentralized exchange if a gateway is used to replenish an account in which you need to go through a kyc?

Counos Platform counos.io: In our coun0s dex is work base of community and escrow. The wallets is multy signature wallet and we do not access in no way to any assets, and people can pay direct to eachother.

For kyc I believe it is nessasery for fiat transaction because a lot 0f scamer can use to scam people and even scam money send to account of other. And bring trouble to the people, and because it is just for safety of deals we need to do crypto to crypto dose not need Kyc. Only crypto to fiat or fiat to crypto. And it is decentralized because all deal going via people and even no one hold the asset and control it.

Irina Kravchuk: But the KYC is for the account, right? Or is it depending on the type of transaction?

Counos Platform counos.io: Just bring secure place for your transaction, depend to crypto to crypto or fiat biz. It is just for fiat biz need kyc

Part 2 — live questions from the Telegram community

Q1 from Telgram user @DiegoRME

Why should investors enter your ecosystem? Can you give 3 reasons?

Counos Platform counos.io: Counos build up base of the needs in traditional world, you need letter of credit. We create by our escrow. You need banking system to deposit and. Withdraw all and send of receive. We create by our counOS X. you need investment system be secure we build up by our coins and commodity and securitization, business need payment gateway we done. Most important things is we are going to build up our business clubs so traditional business can join and cooprateing and grow and empower community

Q2 from Telgram user @Temptation_Provider

Does Counos comply with security and privacy requirements for bank payments and transfers?

Counos Platform counos.io: Sure we try out best to be transparent and keep all rules in best manners in this world

Q3 from Telgram user @airdropmmome

You organized an AMA session very rewarding and received a lot of questions related to utilities and technology, future vision, …So now I want to ask what do you want to receive from the community?

Counos Platform counos.io: As I said we are looking for a community to consider our ways movement and be backed our platform to grow together help each other and achieve our goal to create better place for everyone

Q4 from Telgram user @JP_Morgan_Chase

Crypto projects were closed in many countries due to improper regulation and licenses. How does the Counos team solve these problems?

Counos Platform counos.io: As I said We are Swiss and our country is from most of the eyes country with wealth prosperity and fairness and our government is much more advance of other and so support and encourage new idea and technology

Q5 from Telgram user @martindouglas2

What are the benefits of consulting securitization services? How is it safer and less risky for any investors? What are the challenges that Counos faces in changing traditional corporate concepts?

Counos Platform counos.io: Securitization is not easy for most of countries and place. But base of our ability and country and regulation we have this ability to share. To other projects https://www.counos.io/securitization-of-digital-assets

Q6 from Telgram user @JRking1

How can users engage in crypto trading in a secure environment using Counos Exchange ???

Counos Platform counos.io: We already lunch our decentralized exchange which work person to person. And give opportunity to users with out any risk by hold own asset buy and sell and pay direct via fiat to other person with out any one can scam other pulse and act like local exchange

Www.counos.world . Centralized exchange www.counos.exchange going to be lunch in a month.

We have full regulated in europe

Q7 from Telgram user @DtKross

#Counos DEX has the good Dev team who assures speedy developments of different functionalities on #Counos DEX ecosystem. I’d like to know more about your team. Were there any significant challenges that your team encountered in the past?

Counos Platform counos.io: As you know we have many limitation in this world and because of security of our people base of locations and job they have we do not publish name of teams…. But as you see our head of team and management is publics pulse all our locations and phones we have offices in swiss. Austria Slovakia and estonia

Q8 from Telgram user @Felita69

Adoption is one of the important factor that all sustainable blockchain projects should focus to be more attractive in the investors’ eyes. What are the benefits of Counos in the future in the world of blockchain

Counos Platform counos.io: Adoption come via solve problem and cover needs the people and businesses. Many users even they do not know how to use crypto and it is difficult to understand as well. Even so some way to comply with bank system…….. Counos even plan to run PayPal system base of crypto by sending and receive via email…… So definitely we have great future

Q9 from Telgram user @Castro_Tib

I think your project should prioritize security. What technology is used to protect users money from hacking? I think the security is the most important thing (What is the most important thing you are focus on?)

Counos Platform counos.io: I believe system is secure. Even btc and ltc…. But way of cheating and people don0t know how act against cheater is big problem. But with escrow system you can even safe yourself from cheater

Q10 from Telgram user @Karan_02

What are the plans in terms of marketing and business partnerships in order to create value to the token and increase it current price?

Counos Platform counos.io: Price grow base of ability and demand and usage of platform we are welcome any partnership to bring benefit to community and parties

Part 3 – Quiz Results

In the final part we would like you to check your knowledge in terms of Mantra DAO. They’ve prepared 4 questions for this part.

Q1

What is best usage of counos decentralized exchange?
buy and sell crypto to fiat

Q2

Where is the Counos head office located?
Switzerland

Q3

How many CCA do you need to become a trusted node?
500,000 CCA

Q4

Which of the following are NOT Counos Currencies?

Counos BTC

For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru

Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/

Our partners:

Counos X Community: https://t.me/counosio

We are pleased to announce our next AMA on July 30th 2020 at 02:00 PM UTC Time: Satoshi Club x BC Game

⚠️Click to see the hour
⚠️Total Reward pool: 1000$

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join BC Game Telegram group

We will have the following structure:

Part 1: 200$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 4 Questions will be selected from our website – please submit your questions in the comments section of this post. 2 Question will be selected from Bitcointalk thread.

Part 2: 200$/10 users – Open chat for 80 seconds. You can post Max 5 questions. BC Game Team will select 10 questions and answer them.

Part 3: 600$ – A quiz about BC Game

For more details:
BC Game – BC Game
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

Founded in Dec 2017, Bitbns claims to have become one of India’s largest spot cryptocurrency trading platforms. On July 23 Bitbns conducted an AMA in Satoshi Club Community. Our guest was Vaibhav Seth.

The total reward pool was $500 ($400 in BNS+100 USDT) and it was splitted into three parts.

In this AMA Recap we will try to summarize some of the most interesting points for you.

…………………………………………….

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Irina K.| @Satoshi_Club: Hi everyone.

Serg | Satoshi Club: Hello! Today our guests are from Bitbns. Vaibhav Seth, welcome!

Irina K.| @Satoshi_Club: ❤️ Welcome to another episode of our AMA series. Vaibhav Seth welcome to Satoshi Club.

Vaibhav Seth | (⊙_◎): Thank you for inviting me here for this AMA today.

Serg | Satoshi Club: We are glad to have you here. Please tell us a bit about yourself and about Bitbns.

Vaibhav Seth | (⊙_◎): I am growth associate with bitbns exchange, by profession I am an Information security expert. I work to expand services of bitbns with proper FIAT support in multiple countries across the globe. Currently my main focus is to get the general public Stack Sats daily via bitdroplet.com because we all know FIAT hyperinflation problem has been growing rapidly around the world and BTC is the solution to it.

Bitbns is one of the largest exchange in India having over 75+ cryptocurrency trading pairs, bracket orders, margin trading, Fixed income plan, Systematic investment plan and a lot of other things. Users from UAE, India and Thailand can deposit and withdraw FIAT on bitbns. We are expanding our FIAT services to 30 countries till end of this year.

BNS is a utility token which mainly focuses to allow users save money while spending it for OnO transactions which is a trillion dollars’ worth industry. We are going to implement BNS as a nucleus around all of our products at buyhatke with many other local and global partnerships.

You can check complete details about BNS at bitbns.com/bns. These are the main utilities of BNS:

Shopping:

• Online/Offline payments.
• Cashback on every transaction.
• Direct e-commerce payments, Users will be able to earn 3-4% direct cashback.
• Paybns card.

Sending money:

• Cross-border payments with full support of crypto to FIAT conversions with just few click and low fees.

Crypto Cashback:

• No matter how big or small, every transaction with BNS will give you a reward.
• BNS will make online/offline payments more rewarding.

Crypto insurance:

– Crypto Insurance would ensure that your crypto on BitBns is insured always which means that your funds are always safe.

Banking services:

• Cryptocurrency and FIAT loans.
• Online and offline payments.
• Crypto investments like Systematic purchase plan and fixed income plan.
• Debit card with assured cashback on each transaction.

• BNS will also be a nucleus around all of our other platforms, You can read about them here https://docs.google.com/presentation/d/1S6XZ_MhNKEzeIJvUdS0gOpjjA0mlq211_6i52Kn42h8/edit?usp=drivesdk

Serg | Satoshi Club: BTC is the solution, yes 🙂 we have collected questions from the community. Shall we start discussing them?

Vaibhav Seth | (⊙_◎): Sure. We can start with it.

Q1 from Bitcointalk user Nyosant

Online shopping with cryptocurrencies is great, but I am really intrigued about the offline part of Bitbns’ OnO shopping. Please could you explain how will offline shopping work exactly and if there will be any perks related to shopping with the BNS token? Thanks!

Vaibhav Seth | (⊙_◎): Great question.

Offline spending part would work in these ways:

1. PayBns debit card: Users will be able to spend money by PoS machine and ATMs.
2. Store gift cards: Users will be able to buy offline gift cards from https://compare.buyhatke.com/giftcards-wallet.

Serg | Satoshi Club: is the card available at the moment?

Vaibhav Seth | (⊙_◎): bitbns.com/paybns would get launched in November 2020

Here is a short intro that we posted last year even before the announcement of BNS https://youtu.be/0jfB1UbyBbU.

Irina K.| @Satoshi_Club: Do you already have any partnerships with market networks/ chains?

Vaibhav Seth | (⊙_◎): We have partnerships wih few market networks and chains which would get revealed over 100 days’ period after listing. We have planned 100 days 100 announcements for BNS which will reveal partnerships, listing and other details.

I am posting one such example below

Like this is the BitBns hardware wallet which will get launched during 100 days 100 announcements of BNS.

Serg | Satoshi Club: That’s good news. In what countries will it be available?

Vaibhav Seth | (⊙_◎): Our main focus would be on countries like Venezuela, South America and few others that are suffering from hyperinflation of FIAT. PayBns card would allow users to spend their cryptocurrencies such as BTC, USDT, BNS and few other currencies in a better way. More countries would get revealed with launch of PayBns debit card.

We already have bitdroplet.com live in Europe with complete FIAT support. Bitdroplet is one of the first utility of BNS where users can stack sats in a systematic manner to reduce loss and get returns via Dollar Cost Averaging method.

Q2 from Bitcointalk user Elissa

Not long time ago, another Indian exchange, Wazirix, made an IEO on Binance. What is your advantages compared to them and why exchanges are doing IEOs on other exchanges?

Vaibhav Seth | (⊙_◎): Adoption and exposure is the main thing due to which local Indian exchanges are doing IEO on global ones.

In case of Wazirx they got acquired by Binance but BitBns is not getting acquired/sold. Bitbns would be running independently working to improve bitcoin and blockchain space for a better future of financial world.

For example: We recently announced that we are working on payid.org with 40 other global leaders including Huobi. You can find a brief on how PayID works in this video by CNBC. No need to remember long public addresses or account number and IFSC. It’s like UPI for all sorts of payments. You can transfer $ or Bitcoin.

https://twitter.com/CNBCFastMoney/status/1273737295292760066?s=19

There are a lot such benefits that bitbns has over any other Indian exchange as it is running independently to improve the cryptocurrency ecosystem around the globe. 🙂

Q3 from Telegram user @iulya_i

Fiat deposits and withdrawals are very important. Currently you have only INR, right? If you want global adoption, you need to add USD, EUR and so on. When do you plan to add them?

Vaibhav Seth | (⊙_◎): We support few more currencies other than INR.

One of the best thing is that we do not charge any fee for FIAT transactions in some of these global countries such as UAE and Thailand.

• We have enabled direct transaction for GBP, USD and Euro for bitdroplet.

• Bitbns allows users from India, Thailand and UAE to do direct FIAT transactions for buying cryptocurrencies.

Serg | Satoshi Club: are you working to add more countries in that list?

Vaibhav Seth | (⊙_◎): Yes.We are going live in these 30 countries till end of this year.

Q4 from Telegram user @sato_nakamo

Can I register from US? Also, what is the utility of BNS and will you conduct IEOs on your platform?

Vaibhav Seth | (⊙_◎): Yes. Users from US can also register on BitBns.

I have given a short intro on utilities of BNS on this message https://t.me/Satoshi_club/171596,   Please read it.

Pre-public got conducted on bitbns. Now trading will start directly after IEO on kucoin.

Q5 from Telegram user @agz18

How does bitdroplet work? And where will my Money will be hold during the investment period!?

Vaibhav Seth | (⊙_◎): Bitdroplet is a Bitcoin SIP platform where users can stack sats on regular basis in a timely manner. Stacking sats this way ensures that loss is in control and users get good returns via DCA method.

Right now it is there in bitdroplet wallets from where we move it to different hardware wallets in a timely manner to keep it safe from hackers. But in few weeks we are launching a decentralized version of bitdroplet where users will be able to own their keys.

Q6 from Telegram user @zaferce

What are the advantages of using P2P based Deposit and Withdrawal models for trading?

Vaibhav Seth | (⊙_◎): Different types of users are comfortable with different ways of trading. Some of them like an open orderbook with direct deposits on binance whereas some people love localbitcoins. On BitBns users can enjoy both direct and P2P deposits so with bitbns choice is never a concern. Users can use the feature as per their comfort.

…………………………………………….

PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

The chat was open for 80 seconds; a lot questions were posted by the Satoshi Club community. Our guest chose some of them.

Q1 from Telegram User @Nickkiii

How does the Fixed Income Plan work, how can I invest?

Vaibhav Seth | (⊙_◎): FIP is a simplified version of margin trading for lenders to lend.

• FIP is simpler
• Guarantees instant execution
• you do not need to covered monitor to figure out what rates to lend at.
• you can always redeem your capital from an FIP instantly

FIP interests are calculated based on how much borrowing has happened on the margin trading platform of bitbns. Bitbns itself effectively lends FIP amount also additionally generates revenue of 15% from the interest amount of the lending and borrowing happening on the platform. Keeping all factors in mind a ratio is decided on how much amount at what interest can come in on FIP for which coin.

Read about Fixed Income Plan (FIP) here https://medium.com/bitbns/introducing-fixed-income-plan-3bc59a18aed2?source=collection_home—7——0———————–.

Q2 from Telegram User @Jhonathanch

Do users in India need to perform KYC? Is it mandatory for all users to make deposits and withdrawals? How do you deal with these policies?

Vaibhav Seth | (⊙_◎): No. Users can deposit, withdraw and trade crypto without KYC. KYC is needed only for FIAT transactions.

Q3 from Telegram User @phamtan310

Before IEO on Kucoin, how did Bitbns raise funds successfully? What helps Bitbns to convince investors easily?

Vaibhav Seth | (⊙_◎): Utilities. Utilities of BNS are one of the top pillars of our token. Most of its usecases would be as a nucleus around all of our other platforms, Read about them here https://docs.google.com/presentation/d/1S6XZ_MhNKEzeIJvUdS0gOpjjA0mlq211_6i52Kn42h8/edit?usp=drivesdk.

Q4 from Telegram User @Idee01

Security and liquidity are the crypto dilemma for most crypto exchange. As one of the top 3 Indian cryptocurrency exchange, how do you provide liquidity? What are the security features of bitbns exchange? How often do you do audits?

Vaibhav Seth | (⊙_◎): Till today bitbns has never been compromised. We were born with a vision as long as bitcoin is there bitbns would be there.

We spend 3 times more time on security in general than any product releases for futures. So now you can think how seriously we take security considering how many unique things we do. Bitdroplet is a global first. Bitbns extension is a global first. Our INR p2p mechanism was a global first. Bracket orders were global first. Similar global first mechanisms are also deployed on the security end with 3x intensity. We off course can’t reveal more but things are safer with bitbns more than ever every single day. Over 90% of funds are never connected to internet and are safely stored in geographically diverse distributed cold wallets with multi authentication systems.

The next awesome thing comes is with bns https://bitbns.com/bns/

Bns would have a crypto insurance option coming soon. Your funds we would actually guarantee that they would be returned in full. Not like banks that we would just give you 1 lac even if you had 1 crore. Everyone knows what happened with PMC bank. You can check the roadmap of bns and get more details when it’s closer to launch. Bitbns stays ahead of the curve always. 🚀

Q5 from Telegram User @Jhonathanch

About the PayBns card? Will this card work with VISA / MASTERCARD? How will it be possible to acquire? Will it have any cost?

Vaibhav Seth | (⊙_◎): It will have a cost but with BNS token that would be negligible. Like BNS hodlers are getting hardwarewallet for nearly negligible price https://t.me/Satoshi_club/171617.

More details on card would get revealed with its launched.

Q6 from Telegram User @Sicxa

Which area does #Bitbns focus on at the moment? (DeFi, Stake,Dapps..)

Vaibhav Seth | (⊙_◎): Currently we are focusing on defi. We are exploring defi to build decentralized version of bitdroplet.com. Bitdroplet is one of the first utility of BNS.

Q7 from Telegram User @Aleurich

The currencies of centralized exchanges always have limited functions. How can you make $ BNS really useful not only within the platform?

Vaibhav Seth | (⊙_◎): We will focus on helping consumers saving money while doing OnO purchases (Online and Offline) which is a trillion dollar industry. We already have a huge potion of this sector via different products of buyhatke which is live from last few years.

Take a look at bitbns.com/bns

We will keep doing new partnerships and improvements in our products to make this product reach masses.

For example take a look at usemycards.com

We started it as P2P card sharing platform for Ecommerce shopping but today UMC has many features that allows users to:

• Buy gift card at discount.
• Do or get mobile recharge at cheap price.
• Flight booking.
• Online food orders at 10-30% discount.

and a lot more.

Take a look on more utilities at https://t.me/Satoshi_club/171596.

Q8 from Telegram User @Jhonathanch

How can I get a BitBns hardware Wallet? what are the advantages of acquiring one? Is it a safe Hardware?

Vaibhav Seth | (⊙_◎): You can hodl BNS to be eligible for it or buy it normally by paying through crypto after its launch. It will get launched within #100DaysOfBNS which is starting from around 1st August.

Q9 from Telegram User @Magoy12

On bitdroplet, you mentioned an example about Komal investing 400inr weekly into btc for 2 years, the roi was -0.67% btc. It is not really convincing, what makes bitdroplet a good way for investment?

Vaibhav Seth | (⊙_◎): We believe in complete transparency. Komal is just an example name that we took. On bitdroplet.com homepage you can see exact an actual past returns on different timeline, amount and frequency to decide your goal frequency.

This helps consumers in taking better investment decision rather than just falling for marketing gimmicks. We are focused to bring-in non crypto folks to invest in crypto.

For example: Bitdroplet has most of the users who are from mutual funds and stock market. They have stacked over 600,000 USD worth bitcoin in just few months. Such continuous user acquisition in non crypto world would help bitdroplet and bitcoin to climb to the top of the mountain in terms of adoption. 😄

Q10 from Telegram User @AyD80

What have you established for the short-term BNS token?

Vaibhav Seth | (⊙_◎): Live utilities of BNS token:

• Bitdroplet- Users are daily stacking sats via it and userbase on it is growing in the right direction.

We have enabled direct transaction for GBP, USD and Euro for bitdroplet longtime ago and we have been onboarding users from many European countries after this.

• FIP- You can see yourself that FIP allocation even larger than 50 BTC gets fulfilled in few minutes. We are launching new FIP plans every week.

• Fee refund: Users have got fee refund for over 70-80k USD from bitbns even before launch of BNS token.

• UMC: It is improving daily breaking each milestones of development and user growth. You can check usemycards.com for utilities that will work for BNS token.

• Spidy: Data crawling service provider. You can search spidy in chrome webstore to check about it.

Q11 from Telegram User @Patty91

What relationship exists between Bitdroplet and BitBns? How does Bitdroplet influence the Bitnbs ecosystem? How does it make you more profitable and positive?

Vaibhav Seth | (⊙_◎): Bitdroplet is owned by Bitbns. Bitdroplet orders get placed on BitBns live bitcoin orderbook which means we get more liquidity on BitBns and better rate for people stacking sats via bitdroplet. Both of them mutually give benefit to traders and investors.

Serg | Satoshi Club: @vbhvsth, thanks for being here with us today! We wish you good luck in the KuCoin spotlight!

Irina K.| @Satoshi_Club: That should be it. Thank you @vbhvsth for your time and answers. 😊

Vaibhav Seth | (⊙_◎): 😄👌 Thanks for inviting.

…………………………………………….

PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Bitbns. A link to a Quiz form were sent into the chat. Participants had 10 minutes to answer. 200$ were rewarded between the winners.

For more information and future AMAs, join our Social Media channels:

English Telegram group: https://t.me/Satoshi_club

Russian Telegram group: https://t.me/satoshi_club_ru

Spanish Telegram group: https://t.me/satoshi_club_spanish

Telegram Channel: https://t.me/satoshi_club_channel

Website: https://esatoshi.club/

Our Partners:

Bitbns Community: https://t.me/Bitbns

Bitdroplet: https://t.me/bitdroplet

There is something constant in SatoshiClub – it’s our non-stop AMA marathon. And today we would like to tell you about the AMA session with our friends from Mantra DAO. The AMA took place on July 22 and our guest were John Patrick Mullin Co-Founder & Council Member at Mantra DAO and Nicholas Krapels (Prof. K 教授) Strategy Consultant at Mantra DAO.

The total reward pool was 300 USDT + $300 in OM and has been splitted in 3 parts.

In this AMA Recap we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&Bitcointalk community

Serg: Hello everyone! MANTRA DAO will be our guests today. @JPMullin , welcome!

Irina Kravchuk: Hi everyone, welcome to another episode of our AMA series

Nice to meet you @JPMullin 😊

JP Mullin | MΛNTRΛ DΛO: Hey everyone, thanks so much for having me! Great to be here and share more about MANTRA DAO!

Serg: We are eager to find out 🙂 Please tell us a bit about yourself and how did you start MANTRA DAO

JP Mullin | MΛNTRΛ DΛO: Sure thing, happy to share a bit more about myself and the project. I’m originally from the US, but spent nearly the last 10+ years abroad having done my undergraduate studies in España, my first masters in Germany, and my second in Shanghai. After that I worked in traditional finance doing research on FinTech and blockchain for one of largest Chinese investment banks, Guotai Junan Securities. I joined the crypto space fulltime in 2017, but was active since 2015 and bought my first bitcoin (unforutunately just a few) in 2013. I moved to Hong Kong in 2018 and helped set up a crypto exchange and advisory firm, before launching the HK offices of a US licensed brokerage business that has the only SEC license for distributing digital securities. After that I joined the Rio DeFi team as an advisor, and most recently have been focused on building and launching MANTRA DAO. A DeFi DAO focused on Staking, Lending, and Governance. 🙂

that was a lot, but hopefully you can get a sense of my background

Serg: pretty clear 🙂 What country did you like the most? ))

JP Mullin | MΛNTRΛ DΛO: Haha that’s a tough question.. for the fun and parties.. gotta say Spain :stuck_out_tongue: But I’ve loved everywhere I’ve lived, and tend to settle into almost any environment I go to!

Irina Kravchuk: Nice. Why did you choose Europe? For your studies?

JP Mullin | MΛNTRΛ DΛO: To be honest, I was just obsessed with Spanish culture and language at the time, and it seemed like the thing to do. I wanted to try something a little different!

I can say it worked out well and couldn’t be happier with those (unconventional) choices I made

Serg: Nice introduction 😀 Thanks for sharing it with us. For the first part we have collected questions from the community and selected 6 of them. Are you ready to start?

JP Mullin | MΛNTRΛ DΛO: Ready as I’ll ever be

Q1 from Bitcointalk user k.muller

What happens if the community votes for 2 changes which contradict themselves? How would you proceed then? Which one you will choose?

JP Mullin | MΛNTRΛ DΛO: Great question – and that’s why our governance process involves a four step process with Council Members

Im just going to rip this from the WP, but will summarize after..

In order to submit a proposal and vote within the MANTRA DAO ecosystem, a member must first hold and stake OM. Each staked OM represents 1 vote within the MANTRA DAO system. In order to propose a topic for voting, users will need to deposit USD $100 worth of OM as collateral. If the proposal should fail, they will lose the OM, but if the proposal passes evaluation from the council, then the vote will proceed. If the proposal receives a simple majority (51%) of the votes from the valid voters (staking OM), then the depositor will receive their OM back as well as an additional amount of KARMA for helping the ecosystem.
The process for voting is as follows:
– 1 week for proposals
– 1 week for evaluation of proposals
– 1 week for the voting of proposals
– 1 week for the implementation of proposals
OM holders who stake OM will be allowed to propose changes to the MANTRA DAO ecosystem including, but not limited to, changes in:
– Interest rates
– OM Inflation level
– Ecosystem grants
– Adding additional staking assets
– Adding additional lending products
– Etc.
The MANTRA DAO Council is currently comprised of 5 Council Members. The Council Members will serve 2-year terms and will help guide the proposal, evaluation, voting, and implementation process for MANTRA DAO. Every two years, there will be a vote for the next MANTRA DAO Council Members, with the maximum number of Council Members being set at 9. The Council will always maintain an odd number of councilors to never allow for a tie during the evaluation of proposals. The maximum number of consecutive council terms by any Council Member is set at 5. 
It is also possible within our governance model that the MANTRA DAO Council can create sub-councils that specifically focus on certain topics, such as the MANTRA DAO Financial Council. The overall MANTRA DAO Council holds veto power over any sub-council.

Essentially the Council Members are the gatekeepers to the community voting process, and will have to listen to the community to see which votes should be brought forth for a community vote. I am one of the 5 Council Members.

In order for me to do a good job at this role, it is imperative to be closely involved with the community and listen to their feedback, suggestions, concerns.

Of course if I do a bad job, I can also be voted out and kicked out

I will do my best to make sure that doesn’t happen

Serg: hmm, I see. So, not every proposal can be brought to the voting process

JP Mullin | MΛNTRΛ DΛO: That is correct, but the barriers for proposals and voting are much lower than other models we’ve seen and we want to make it as easy and simple to take part in governance as possible. we are aiming to be a mass-market DeFi product, which I’ve yet to truly see

Serg: but the council have to agree to that? 😀 before it goes to the vote

JP Mullin | MΛNTRΛ DΛO: We also have limited terms.. similar to the US election.. even if they people want DT outta there.. he’s still got a chance to win re-election this year :stuck_out_tongue: That being said, if there is something truly egregious happening from one of the Council Members, it is our duty to dismiss them and let the community decide

Q2 from Bitcointalk user philicrohit

While going through your project I found lots of terms Like OM, MANTRA, KARMA are used which are sanskrit words relates to Hinduism religion
Why did you decide to unite the cryptographic world with spirituality? Any particular personal experience you wish to share with us?

JP Mullin | MΛNTRΛ DΛO: Another great question.. 2/2 so far

Irina Kravchuk: Hopefully we’ll have a 6/6 by the end of part 1 😁

JP Mullin | MΛNTRΛ DΛO: While I must say, I’m not a very religious person, I do believe I’m a spiritual person, and when we were coming up with our branding concepts, we were trying to think of things that embodied taking control of your financial well-being, concepts that were very Zen and peaceful in nature. We started down this path and then we came to the idea of Mantras which are phrases or sayings meant to bring about a state of inner peace. We believe our product will allow our users to be at peace with their financial future 🙂

Serg: Where have you learned about this? I believe that not in Spain 🙂

JP Mullin | MΛNTRΛ DΛO: Hahah, I’ve traveled a lot and met all kinds of people from around the world! Even some in spain like this 😉 haha

Serg: traveling is nice 🙂 I’ve heard about this concept from a friend who travelled at a monastery in Himalayas ))

Q3 from Telgram user @Lady_luck2

What is the main motivation of people to take a loan on the MantraDAO platform, than to take a loan from a bank? Do you have a strategy for attracting people to your platform not from the crypto space?

JP Mullin | MΛNTRΛ DΛO: 3/3 haha. Well first and foremost, it’s all about economics. Not only will we be able to offer better economics than a bank, but I can almost guarantee you that 99.9% if not 100% of banks won’t let you take a loan using crypto as your collateral haha. Our lending platform allows for this. We’ve built in an internal reputaion protocol (kind of like a credit rating system) called the KARMA Protocol, that allows users to build up their reputation or credit worthiness through the good things they do within our platform and in the crypto space. This allows us to better assess the riskiness of lending to certain individuals and will open up all kinds of doors such as allowing for undercollateralized loans, better interest rates, etc.

• 

These are just some of the examples of how you can build your karma and be rewarded in a number of different ways

Serg: So, if I successfully close some loans, I will have a better rate next time?

JP Mullin | MΛNTRΛ DΛO: That is exactly right, but you can also earn KARMA from many other things that benefit our community

We believe that those with the best KARMA will be our best clients and customers 🙂

Irina Kravchuk: What should people do in the beginning, when their credit history is 0?

Prof K @shanghaipreneur Wanchain.org | FinNexus.io: Stake!

JP Mullin | MΛNTRΛ DΛO: Well to be frank, they will have to build it up, just like in any credit situation. But you can start building it as easy as staking our OM token, inviting friends, submitting and voting on proposals, etc.

Prof K @shanghaipreneur Wanchain.org | FinNexus.io: Hi guys, I hope you can see now why I chose to back MantraDAO. What great questions from rhe Satoshi Club! Every time I come in here it gets better and better.

Serg: Yes, I know you have great choices 😀 FinNexus and MANTRA

Q4 from Telgram user @Baby_Crypto

What will happen to MANTRA DAO if the Polcadot network is not launched? Is MANTRA DAO compatible with other public chains?

JP Mullin | MΛNTRΛ DΛO: Well first and foremost I’m very proud to be a Polkadot ambassador, and I can say with 100% certainty that Polkadot network has already become a permissionless blockchain network, and within 28 days DOT will be transferable. I can’t wait for this 🙂

But anyway, MANTRA DAO is built on a separate chain, called Rio Chain, which is a substrate-based chain, that doesn’t rely on Polkadot blockchain for anything (technical wise). We are a believer in Polkadot and Kusama, and are excited to become one of the fasting growing projects in their ecosystem, but we will also be integrating many other blockchain protocols

Rio Chain allows for cross-chain interoperability through a generic asset bridge we’ve been developing, and will give us the functionality to integrate any public chain we deem necessary

a key feature of both our staking and lending is the muti-asset staking and multi-asset collateral

Serg: So, you are related to Polkadot but have an autonomy from it

JP Mullin | MΛNTRΛ DΛO: That is right! 🙂

Prof K @shanghaipreneur Wanchain.org | FinNexus.io: Actually no other tokens can ride on Polkadot except DOT

The whole point of Gavin’s project is to have a linkage of many “parachains”

JP Mullin | MΛNTRΛ DΛO: Yea, that’s right. I will add though, that we are planning to become a Polkadot parachain as well with the Rio Chain

Prof K @shanghaipreneur Wanchain.org | FinNexus.io: Parachains are rare. Sort of like a team in the English Premier League. If they don’t do well, they get sent down to Kusama Network! 🤪

Serg: That’s nice. I don’t know much about Polkadot that’s why I was asking 🙂

Irina Kravchuk: Could you elaborate more on parachains?

JP Mullin | MΛNTRΛ DΛO: https://wiki.polkadot.network/docs/en/learn-parachains

For in depth reading, I would suggest people to go check out the Polka Wiki 🙂

Prof K @shanghaipreneur Wanchain.org | FinNexus.io: No, it’s not exactly like that. There could be many many reasons why a substrate based chain chooses Kusama over Polkadot. But Kusama and Polkadot and Rio Chain are all based on what is called Substrate technology. Which is Parity’s software development kit for spinning up your own chain

Q5 from Telgram user @dominiksss

I’ve read that you had 900k in private investments. Can you tell us who are those investors? Is it public? For what price have they bought and are they locked?

JP Mullin | MΛNTRΛ DΛO: Yes, I can share this info, and our seed investor also happens to be watching and in the chat

We were fortunate and lucky to receive seed investment from Calvin Ng, who is the GP of Plutus VC, a $200 million dollar blockchain VC fund out of HK. He paid the same price as all other private investors ($0.025) and will be under the same lock up as well. 6 months, with a monthly waterfall, although Calvin is heavily invested in both MANTRA and Rio Chain, and is certainly in it for the long haul with both of the projects both from a financial and operational/strategic perspective. I’ve known him for nearly 3 years now, and finally got him to invest in a project I’m working on 😉

he’s not easy to get money from haha, we also have some more VC investment announcements coming up in the near future that we will be sharing 🙂

Serg: When do that period start? 6 months lock period

JP Mullin | MΛNTRΛ DΛO: Upon token issuance, which will essentially be immediately prior to exchange listing.We will be heavily incentivizing our earliest stakers, so we are confident a lot of our earliest investors will be staking early to grow their stack and not just staking OM, but other assets such as DOT, KSM, etc.

Serg: How much exactly will be the incentive? 🙂

JP Mullin | MΛNTRΛ DΛO: I can’t put an exact number on it, but it will be a very competitive APY 🙂

Serg: I see 🙂 I think that you also have to think about the inflation, right?

JP Mullin | MΛNTRΛ DΛO: we estiamte just staking without extra incentives in the early days to be anywhere from 10-20% APY depending on the number of stakers, only 10% of the tokens will be circulating upon release. We imagine less than 1/2 will be staked at the onset

Prof K @shanghaipreneur Wanchain.org | FinNexus.io: Initially staking will be Polkadot (DOT), Kusama (KSM) and of course OM… But there will be more chains coming rather soon, I think

JP Mullin | MΛNTRΛ DΛO: VERY soon 🙂 this is another community decision process as well

Serg: That’s nice. I will definitely take a look at that when it is ready 🙂

JP Mullin | MΛNTRΛ DΛO: of course the team will roll out additional tokens, but if the community wants other DPoS assets to be added, we wil be more than happy to build the node infrastructure

Prof K @shanghaipreneur Wanchain.org | FinNexus.io: So if you have fat stacks of a certain awesome PoS coin… you can suggest we become a validator there so u can delegate to Mantra and EARN MORE OM!

Q6 from Telgram user @kenny_vermaelen

I have seen that you are giving grants for the community/developers. What are the conditions to access those?

JP Mullin | MΛNTRΛ DΛO: Great question, but simple answer! We will be giving grants (also possible through community proposals and voting) to businesses, individuals, etc. who are furthering the utility of OM or further decentralizing our DAO. We have not limited ourselves to any specific idea or type of project here.For example, the Kusama treasury, which has similarities to our grants, recently funded a small movie project specifically related to Kusama. But we’d also be more than happy to fund development courses or educational training regarding financial literacy / blockchain in the developing world, literally anything is possible.

Prof K @shanghaipreneur Wanchain.org | FinNexus.io: Once there is a solid base of community users and diverse assets in the DAO, the sky’s the limit on what kind of product we can build! The first product we’ve outlined in the white paper is a MakerDAO type Vault dapp that generates its own stablecoin.The second product is really up to the OM stakers.

Irina Kravchuk: Are the applications open? For this grants?

JP Mullin | MΛNTRΛ DΛO: Nothing official yet, but I’m always happy to chat with anyone who has ideas, and we can start making things happen!

We’ll have an official webpage and form to fill later on, but in the early stages just talk to me or Prof K, or one of our other team members if you have a cool idea

Serg: We might apply as well 🙂 So, was it 6/6 or not? 😁

JP Mullin | MΛNTRΛ DΛO: haha that was definitely 6/6

Prof K @shanghaipreneur Wanchain.org | FinNexus.io: nice work Satoshi Club, you did not dissapoint

JP Mullin | MΛNTRΛ DΛO: Prof K was certainly right when he recommended your community

Part 2 — live questions from the Telegram community

Q1 from Telgram user @CryptoLove97

Staking is The Most Popular Trend in Crypto Industry & its helpful encourage investors to hold token long term!
Does MANTRADAO Project Also support Staking? If yes, then What are Benefits of it ?
What’s The are Incentives for Users Running Validator node & APY ?

Prof K @shanghaipreneur Wanchain.org | FinNexus.io: MantraDAO’s core is staking assets!

Q2 from Telgram user @AndrySTP

I noticed that your name contains DAO. What are the similarities between MANTRA DAO and Maker Dao in a number of products?

JP Mullin | MΛNTRΛ DΛO: I’ll start here. We are certainly similar to Maker in a few ways eg. crypto collateralized stablecoin loans, governance token, etc. And we are big big fans of Maker.. Maker was DeFi before DeFi was a thing. But we have many other features not included in Maker including staking, MANTRA POOL (our internal platform lottery game), cross chain compatibility, etc.

Q3 from Telgram user @Jasonchloe

As I know, Mantra DAO has more centralized competitions than decentralized. How you will acquire most of the market with centralized

Prof K @shanghaipreneur Wanchain.org | FinNexus.io: Great question! CeFi has some cool entries here. But 1) they are custodial, in that you have to trust them that they will not spend your coins while you are staking with them. Although we may have some custodial services, our first priority is non-custodial staking and lending. 2) CeFi probably will not accept as diverse a collateral base as we plan on. 3) With our KARMA Protocol, we will incentivize users to stake and keep staking! Continue to participate in the ecosystem to earn more OM and get better deals on financial services!

Q4 from Telgram user @BabyGaLLerie

Which exchange does your coin listed?

JP Mullin | MΛNTRΛ DΛO: This is an important question for everyone to know – we are not currently listed anywhere, as our IMO (initial membership offering) hasn’t concluded yet, but we have confirmed two very reputable exchanges, and have one in the final confirmation stages!

I think even Prof K is proud of our initial exhchanges we will be launching on

Prof K @shanghaipreneur Wanchain.org | FinNexus.io: Yes, we will definitely be making a big bang if everything we’ve lined up comes out like I think it will!

Q5 from Telgram user @vnmb35

Most of investor just focus on the price of token in short term instead of real value of project. Can you tell us the motivation and benefits for investors to long term?

Prof K @shanghaipreneur Wanchain.org | FinNexus.io: Building up your OM stack and improving your KARMA score should incentivize you to stay with MantraDAO and protect & grow your wealth!

Q6 from Telgram user @CryptoZaratustra

Am I correct in understanding that you want to combine the functionality of Compound + Maker DAO and Pool Together into one MANTRA DAO project? Why did you choose this unique combination of products and offers for the client?

JP Mullin | MΛNTRΛ DΛO: Yes, that is very correct. We also have some other unique features that tie together to make a very comprehensive DeFi ecosystem with multiple products, and many ways to attract users! That being said, we can do this all with cross-chain interoperability, which is currently majorly lacking in Ethereum-based DeFi projects, and part of the reason why we decided to build within the Polkadot ecosystem!

Q7 from Telgram user @Car1a

Staking and DeFi are very popular in cryptospace…
are there any idea to implement DeFi and staking program in #Mandtradao Ecosystem???

Prof K @shanghaipreneur Wanchain.org | FinNexus.io: MantraDAO IS Staking + DeFi + Stablecoin! 🤩

Q8 from Telgram user @vnmb35

You organized an AMA session very rewarding and received a lot of questions related to utilities and technology, future vision, …
So now I want to ask what do you want to receive from the community?

JP Mullin | MΛNTRΛ DΛO: Love this question! Community is everything in crypto, and all I ask is that you take some time to get to know our project, ask us questions, help us improve, and if you like what we are doing, come join us and be a part of our community-govenered DeFi DAO 🙂 if you haven’t already, please join our TG and feel free to ask more questions there – https://t.me/MANTRADAO

Q9 from Telgram user @Fedor_Fanat

Please explain more about MANTRA DAO Credit System? If I deposit my cryptocurrencies as collateral and I get instant access to stable currency loans? What place in the modern financial system will Defi take? What fundamental problem does MantraDAO solve in the modern financial system?

Prof K @shanghaipreneur Wanchain.org | FinNexus.io: The fundamental problem that MantraDAO is attempting to solve (and all of DeFi really, if it’s a good project) is giving increase access to life-changing investments that people otherwise would be shut out of. Our initial roadmap outlines an incentivized savings system, but future products could well include more complex financial products. But it will always align with this vision. Giving the little guy a chance to do better for his or herself!

Q10 from Telgram user @Cristal1501

users who use your staking platform need to verify kyc?

JP Mullin | MΛNTRΛ DΛO: Our staking will be non-custodial, so users won’t even need to deposit their assets with us if they wish to stake on our platform. All they need to do is delegate / nomiate our nodes and take part in our staking services to earn staking rewards in your native token and in OM. No KYC is needed for this, and neither for our lending, although your KARMA score is tied to a specific account. If you want to make a liquid version of your staked assets however, you will have to “bond” your assets with us.

• 

Q11 from Telgram user @Nguyendufb

Can I stake OM ?

Prof K @shanghaipreneur Wanchain.org | FinNexus.io: Yes, absolutely! You can stake OM to earn discounts on services and earn more OM. Initially, you’ll also be able to stake DOT and KSM to earn OM with more assets being added probably weekly.

Part 3 – Quiz Results

In the final part we would like you to check your knowledge in terms of Mantra DAO. They’ve prepared 4 questions for this part.

Q1

What can OM Tokens be used for?

d. Staking, Collateral for loans, Voting and MANTRA POOL

Q2

When will MantraDAO’s public IMO offering begin?
b. 1st August 2020

Q3

How many tiers are there within the KARMA protocol?
d. 10

Q4

What is the greatest increase in interest rates for staking OM under the KARMA protocol?
d. 100%

• 

For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru

Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/

Our partners:

Mantra DAO Community: https://t.me/MANTRADAO

We are pleased to announce our next AMA on July 26th 2020 at 03:00 PM UTC Time: Satoshi Club x Ceek

⚠️Click to see the hour
⚠️Total Reward pool: $800

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Ceek Telegram group

We will have the following structure:

Part 1: $150 /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 4 Questions will be selected from our website – please submit your questions in the comments section of this post. 2 Question will be selected from Bitcointalk thread.

Part 2: $150/10 users – Open chat for 80 seconds. You can post Max 5 questions. Ceek Team will select 10 questions and answer them.

Part 3: $500 – A quiz about Ceek

For more details:
Ceek – @ceekvrtokensale
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

Satoshi Club are pleased to announce the AMA session with the next Kucoin Spotlight IEO: Bitbns
AMA event will take place on July 23th 2020 at 02:00 PM UTC Time

⚠️Click to see the hour
⚠️Total Reward pool: $500 ($400 in BNS + 100 USDT)

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Bitbns Telegram group

👉 Join BitdropletTelegram group

👉 Follow BitdropletTwitter

👉 Follow BitdropletTwitter

We will have the following structure:

Part 1: $150 /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 4 Questions will be selected from our website – please submit your questions in the comments section of this post. 2 Question will be selected from Bitcointalk thread.

Part 2: $150/10 users – Open chat for 80 seconds. You can post Max 5 questions. Bitbns Team will select 10 questions and answer them.

Part 3: $200 – A quiz about Bitbns

For more details:
Bitbns IEO – 30th of July 2020 : Kucoin Spotlight
Bitbns – @bitbns
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on July 22nd 2020 at 12:00 PM UTC Time: Satoshi Club x Mantradao

⚠️Click to see the hour
⚠️Total Reward pool: $600

⚠️Requirements:
👉 Follow Satoshi Club
👉 Follow MANTRADAO
👉Join Mantradao Telegram group

We will have the following structure:

Part 1: $200 /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 4 Questions will be selected from our website – please submit your questions in the comments section of this post. 2 Question will be selected from Bitcointalk thread.

Part 2: $200/10 users – Open chat for 80 seconds. You can post Max 5 questions. Mantradao Team will select 10 questions and answer them.

Part 3: $200 – A quiz about Mantradao

For more details:
Mantradao – @mantradao
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

SatoshiClub doesn’t stop to create opportunities for its members to meet with the most interesting projects and personalities in crypto space. Today we would like to tell you about the AMA session with our friends from RSK. The AMA took place on July 13 and our guest was Diego Gutiérrez Zaldívar, CEO IOVLabs, RSK, rif, Taringa,| Cofounder Bitcoin Iberoamérica NGO & Koibanx.

The total reward pool was 800$ and has been splitted in 3 parts.

In this AMA Recap we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&Bitcointalk community

Serg: HI! We are pleased to have @dieguitogz as a guest today. Our AMA will be about RSK. Welcome, Diego!

Ciprian Ciubotaru: Hi everyone!

Diego Gutiérrez Zaldívar: Hello Satoshi clubbers!!! Very happy to be here!

Serg: Nice to meet you 🙂 Before we start to discuss the questions of the community, please tell us a bit about yourself, your background in crypto

Ciprian Ciubotaru: Thanks for joining and thank you for your time 😊

Diego Gutiérrez Zaldívar: Happy to, I’ve got in touch with Bitcoin in 2011

But I didn’t get it :joy:, and almost a year later a good friend of mine brought me back to it

Serg: So, you are basically one of the pioneers of crypto 🙂

Diego Gutiérrez Zaldívar: You can say so 🙂 but I think the true pioneers are the Nick Szabos and Adam Backs 🙂 Even Sergio that started in 2011 and found 9 bugs in Bitcoin protecting it from some important threats

Serg: It happened to me as well 🙂 Back then in Argentina we had capital controls and my friend made me open an account at Blockchain.info, sent me 5K BTC, I sent them back to him and all happened witin an hour

Diego Gutiérrez Zaldívar: For me that experience was revealing because I had the feeling of how a truly open and permissionless financial system would work. So since then I decided to devote myself in full to understand Bitcoin and foster its knowledge in Latin America. Well as I started with 2 partners to create the Bitcoin communities accross Latin America, I was defining where I wanted to apply my efforts. And at the end of 2013 I decided I wanted to focus on solving the problem of financial exclusion. As I started some experiences in the slums I realized that Bitcoin alone was not enough. That we needed representations of the local currencies and decentralized business logic. And I wanted to have those local curriencies backed by Bitcoin, much like a digital gold standard

So at the end of 2014 after a talk with Nick Szabo that triggered the question on how we could bring all those functionalities to Bitcoin I contacted Sergio Lerner our Chief Scientist and cofounder to discuss these ideas

Serg: wow, you are in contact with Nick Szabo, some people speculate he is behind the creation of BTC. What is your opinion about it?

Diego Gutiérrez Zaldívar: Well I think he is for sure one of the intelectual fathers of Bitcoin but I think is a great thing that Satoshi is unknown, otherwise any charasterictic (bad or good) of the individual or collective behind the alias would be used to attack Bitcoin or to create sides

Serg: totally agree 🙂

Diego Gutiérrez Zaldívar: Is great that Satoshi is anonymous so we all can be Satoshi

Serg: Thanks for this awesome introduction. Shall we proceed to the questions of the community?

Diego Gutiérrez Zaldívar: My pleasure 😊Absolutely

Q1 from Bitcointalk user pedronino

Hi! Please explain why you added 2 tokens beside RIF? I have read but it is not fully clear. What is RDOC and RIFP? Are there any more tokens?

Diego Gutiérrez Zaldívar: Well those two additional tokens where not created by us, they are tokens created by the MoneyOnChain protocol, and both are backed by RIF. RDOC is a stable asset that follows the dollar price and is over collateralized by RIF. So it will always will be worth 1 dollar of RIF regardless of the RIF fluctuations.

If you have RIF you can obtain them on the RIFonChain platform rif.moneyonchain.com

It is essential for the RIF economy for the following reasons

As all services in the RIF Economy are structured around a sharing economy engine (RIF Marketplace). The Service providers need to stake RIF or RIF denominated assets as insurance if they don’t deliver their services. So for Service Providers having RDOC ensures them they can preserve their working capital.

On the user side as we designed the RIF Services to serve the mainstream audience it helps new users have a token that is connected to something they already know until the get deeper into the crypto economy

Serg: So, if I sell services worth of 10,000 USD, I have to also buy tokens woth of this value for insurance?

Diego Gutiérrez Zaldívar: Conceptually yes, the ratio of staking might not be 1 to 1 but yes, all RIF service providers need to stake RIF or RIF backed tokens

Q2 from Telgram user @bambusvero

Do you think that there might be a problem if on your marketplace you can “exchange information, value and services with full control and transparency”. What if I want my transaction on the marketplace to be anonymous? What if a governmental institution can see it and ask me to pay taxes for the transaction?

Diego Gutiérrez Zaldívar: Well as with Bitcoin all transactions on the RIF Marketplace are pseudonymous and we are designing some privacy enhancing features. I think in current state of affairs going fully anonymous would bring a level of confrontation with government that could be detrimental for the development of the RIF economy.

We should find a balance where we stop mass surveilance systems from operating but if there is a crime involved the information can be followed by a forensics specialist, that’s where Bitcoin is today and we follow the same ethos / balance

Serg: At the moment, do you have any relationships/deals with governments? is your platform regulated?

Diego Gutiérrez Zaldívar: The platform is protected by proof of work and is fully decentralized so we don’t control what runs in it. Our organization (IOVLabs) that is the original creator of the protocol is working with some governments to streamline certain areas of the government functions (drivers license)

Serg: what do you mean by bringing a level of confrontation with the government then? like they can ban its usage?

Diego Gutiérrez Zaldívar: Well I think the governments, even if they can stop a platform, can create a lot of friction. Good examples of that are happening with Zcash, Monero, Dash, etc and the IRS

Serg: that’s cool. Can you tell us which governments are those? Or it’s a secret at the moment?

Diego Gutiérrez Zaldívar: Some is public like the project we did to create secure communications channels to report complains about commercial banks to the Central Bank in Argentina or a circular economy implemented in Marcos Paz, a 50K citizens city in the province of Buenos Aires. Others are still secret

Q3 from Bitcointalk user mirsiyanova

Because RSK creates a sharing economy without a third-party, how will RSK solve cases of disputes between buyers and sellers?

Diego Gutiérrez Zaldívar: I think I answered that partially before, in the case of services that can be automatically validated (ie: storage, secure data transport, transaction processing, monitoring, etc.) the staking mechanism takes care of it. For the case of disputes that require subjective evaluation we are going to integrate Kleros and use the RIF Gateways oracle protocols to also integrate information markets or paid arbitrage in the future.

Serg: How do you know which transactions will need subjective evaluation?

Diego Gutiérrez Zaldívar: Oh that’s something each sharing economy decides the initial RIF Services we created are all self enforceable

But the RIF Marketplace is open so others can create their own sharing economies

Our roles is to provide the building blocks so others can combine it

We are in the process of turning a Social Network (Taringa!) into a Social Marketplace and we will showcase subjective dispute resolution there

My pleasure, in that sense is important to understand that our role is to create the protocols, transfer them to the community and demonstrate the potential via some use cases but final goal is to create an ecosystem where many are creating solutions around the world and make this technology their own

Q4 from Telgram user @vasekmures

What services are compatible with the RIF infrastructure? I know that if I am token hodler I can use them, but where can I find the list?

Diego Gutiérrez Zaldívar: For a complete list of services and their goal you can go to rifos.org and for a more technical view (libraries, dev tutorials, etc) you can go to developers.rsk.co

The first ones we are focusing on are RIF Identity (includes RIF Directory, and RSK Name Services), RIF Data (includes Storage and Streaming), RIF Payments (includes Lumino equivalent to Lightning on Bitcoin and other 3rd layer payment scaling protocols), RIF Gateways (oracles, schedulers and triggers outside the Blockchain) and RIF Communications (incentivised secure communications protocol)

All this is integrated around the RIF Marketplace.

RIFP is the asset that RIF holders get when they provide the collateral for the issuance of RDOC and it gets revenue sharing from the operation of the RIFonChain platform and a slight leverage on the RIF volatily so its a good option for long term RIF holders

Q5 from Telgram user @bitociok

I have a question about RIF Publish. As I understand, it is a place free of censorship. Can you explain to us why you needed to develop such a platform when we already have alternatives on the market? like steemit for example.
And what are the differences

Diego Gutiérrez Zaldívar: RIF Publish is a demonstration of what can be done combining multiple RIF Protocols: RNS for decentralized name resolution (so nobody can stop people from finding the page), RIF Data Storage (to store the data in a censorship resistant and decentrlized medium) and soon we will be able to integrate it with RIF Marketplace and Gateways for people to pay for specific journalist research on topics. RIF Publish is not trying to compete with Steemit and other although it has a bigger level of decentralization but to showcase the potential of the protocols we are building.

As the toolchain (protocol, libraries and documentation) grow creating something like RIF Publish will be a matter of weeks and that’s our objective to enable developers to deliver value very effiently.

Serg: Can you tell us more details about the storage? Is it also decentralized?

Diego Gutiérrez Zaldívar: Yes, RIF Data Storage is a decentralized meta protocol that enables to create economic incentives for service providers using different storage protocols. Currently we have integrated Swarm and IPFS but once the incentive model is stabilized other protocols can be included

Q6 from Telgram user @Lorax14

RIF OS wants to “manage to use one framework to solve all the developer’s need”, how will you be able to do that?

Diego Gutiérrez Zaldívar: Well I’m not sure if that definition is accurate.

RIF OS is a framework (RSK Infrastructure Framework) and as such it has some synergies between components for example we try to make all RIF protocols leverage on the RIF Communications protocol and the RIF Communication protocol leverages on the RIF Storage protocol for privacy, the RIF Storage protocol leverages on the RIF Payments protocol to make micro payments possible and so on and so on.

Also what all the protocols have in common is that their economies are integrated around the RIF Marketplace backed by the RIF token or derived assets.

And in all cases we build libraries in the most used languages (javascript, java, python, C#, etc) on top of the protocols so non blockchain developers can use the technology without becoming experts

So I would say what RIF offers is unified technical interface and a share economy to all the protocols needed to build fully decentralized applications

Part 2 — live questions from the Telegram community

Q1 from Telgram user @buduh11

What was your motivation for starting this project? and what is your vision for $RIF?

Diego Gutiérrez Zaldívar: Our motivation at IOVLabs has always been the same: https://www.ibtimes.co.uk/rootstock-merges-bitcoin-ethereum-help-world-bank-drive-financial-inclusion-1528902 .As you can see we are prety consistent over time.

Our main goal is to create the financial infrastructure that will serve anyone regardless the conditions they were born into.

And we decided to create that on top of Bitcoin because we wanted the foundations (Store of Value) to be as censorship resistant and solid as possible.

That’s why we choose to make bitcoin the RSK native currency and use merge mining to protect the network (stats.rsk.co)

Our vision is that we are part of a greater construction that we called the Internet of Value and that by definition is a network of networks to protect and transfer value. In our vision this Internet of Value will be built in a layered way being decentralised store of value Layer 1, agreement settlement Layer 2, P2P infrastructure services Layer 3 and above that the application level.

So year after year we go building block by block our vision and demonstrating the potential of the stack as it grows

Q2 from Telgram user @Magoy12

In looking over the whitepaper there is both “Smart Bitcoin”, RBTC, the native token for, RSK Smart Contracts, which appears to be only to pay for tx fees/gas. Is there a reason that RIF Token is truly necessary, or in theory could everything have been done with RBTC?

Diego Gutiérrez Zaldívar: The reason why we create RIF is because we envision the RIF economy serving all the smart contract crypto economies and we plan to port RIF token and the RIF Marketplace to other crypto economies like Ethereum, Ethereum Classic, EOS, Cardano, etc

We are also working on Enveloping transactions what will enable RIF applications to operate fully with RIF while Enveloping providers pay the Bitcoin miners in RBTC

That will be available for any token running on RSK so developers will be able to have single token applications while RSK remains in full alignment with Bitcoin

Q3 from Telgram user @nyo_cant

Hi, one of the main goals of your project is helping the less-favoured people, which is really praiseworthy and could be of great help for developing countries. However, you decided to establish your organization in Gibraltar, which seems to be quite the opposite. What advantages brings Gibraltar in for your project? Thanks!

Diego Gutiérrez Zaldívar: Well we choose Gibraltar for the HQ of our purpose driven organization because after evaluating multiple jurisdictions we found one where the government and regulator really understood the nature of what we were building and was willing to collaborate to also implement this technologies. Small jurisdictions have the motivation innovate faster and we found in Gibraltar a place that not only had this motivation but that also took the time to properly study the technology.

Regarding helping the less favored I think although we have them as our main focus I want to say that we don’t want to create a financial system for the poor, we want to create a financial system that is so efficient and open that is inclusive by nature

Q4 from Telgram user @CryptoZaratustra

Please share key performance indicators of the chain, such as the Number of blocks per second, time to completion of a transaction, transaction speed, cost per transaction, or something else? Can you compete with other payment networks?

Diego Gutiérrez Zaldívar: You can check most of this info here: stats.rsk.co but on average RSK validates a block every 30 seconds, has the potential of scaling to 100 transactions per second (tps) in its current state but with improvement we have in progress and reach 2000 tps preserving the ethos of Bitcoin of independent and affordable validation for an individual. Cost per transaction for bitcoin is 1 cent USD and for tokens around 4 cents USD. We are building the RIF Payment protocols in order to achieve levels on pair with Payment Networks like Paypal (190 tps), VISA (~3K tps on average) or even Alipay (85K peak tps).

Q5 from Telgram user @konditer_rolex

Is RSK Mainnet another layer for the BTC blockchain? Do you want to improve BTC or use it to secure R-BTC and your network?

Diego Gutiérrez Zaldívar: RSK Mainnet is a separate Blockchain with a different consensus protocol (DECOR+) that has currently 40% of the economical security of Bitcoin and twice the economical security of Ethereum. Given its native currency RBTC is backed 1 to 1 with bitcoin and the network is secured by the Bitcoin miners via merge mining we see RSK as part of the Bitcoin Ecosystem and as an extension to core Bitcoin capabilities.

Q6 from Telgram user @carlos3766

How are the important decisions taken on the platform? through the Federation?

Diego Gutiérrez Zaldívar: Nope the RSK Federation is only used by the Bitcoin peg the RSK platform itself is protected by proof of work and upgrades to the protocol are proposed by us or the community and independently accepted by miners and node operators in the same fashion as Bitcoin but of course without the same level of decentralization yet 🙂

Q7 from Telgram user @sangmark1

For a project development first of all main priority is having enough fund. Are RSK team financially capable to run this project? Does RSK have enough fund for it’s developement? Can you tell us that how RSK generate the profit? ?

Diego Gutiérrez Zaldívar: IOVLabs (RSK is open network) is purpose drive organization so all the revenue is invested back into Ecosystem and protocol development, it has more than 5 years of runway which is enough to fulfill its objectives. IOVLabs supports core projects in the RSK ecosystem and has revenue sharing with them so as the ecosystem succeeds IOVLabs sustainability is assured. On top of that IOVLabs has a pool of RIF tokens that will use to promote ecosystem and protocol development and also receives revenue sharing from miners transaction fees.

Q8 from Telgram user @Bit_Top

What do you think of a public chain with privacy features? Many public chains are considering adding privacy features, such as adding zero-knowledge proofs, will RIF develop in this field?

Diego Gutiérrez Zaldívar: Zero Knowledge proof are already possible on RSK and a team already implemented the Zokrates libraries succesfully. On the protocol level we are fully pro privacy and we have a couple projects that go in that direction. As I stated before I think we need to find the balance where we avoid the platforms to be used as mass surveillance systems while also avoiding full confrontation with enforcing agencies but that’s my personal opinion, as I said full privacy solutions can be build on top of RSK regardless of my point of view 😊

Q9 from Telgram user @Rifat118molla

Most platforms take a substantial cut, meaning creators only a see a portion of their rewards. So How does the RSK Platform solve this problem? Is the value that creators receive on the RSK platform always optimal?

Diego Gutiérrez Zaldívar: Yes in RSK creators only pay per use of the platform to miners and as I shared before the costs are very low and stable (http://rskgasstation.info/), around 1 cent for an RBTC transfer, 4 cents for a RIF or any other token transfer and some pretty complex contracts cost 1 USD to use. IOVLabs has no control on who uses the platform is a truly P2P platform run by the community

Q10 from Telgram user @malachi456

have been working with ETH solidity, what is the modalities involved and incentive for me to Port my Ethereum projects to RSK. WHAT’S THE competitive advantage for me,

Diego Gutiérrez Zaldívar: Well on one side you have to do zero modifications to your contracts, recently a project ported to RSK and they were happily surprised that they only had to change their private keys :). On the cost side the cost in RSK is most of the time much cheaper than on Ethereum but more important because of the fees model they are extremly stable so you have predictability on your running cost. The other key element is all the things you get solved out of the box thanks to RIF, a great example is the rWallet one of the few Bitcoin and RSK open source wallets for Android and iOS (https://developers.rsk.co/wallet/rwallet/). Finally you have the second safest network after Bitcoin and the safest more efficient way to interact with bitcoin using Smart Contracts

Serg: I think it is the longest AMA I’ve seen 🙂 It was a great AMArathon, Diego! We had a great time! Thank you for being here with us today!

PART 3 – Quiz Results

This time users had to connect to thecryptoquiz.com, the game can support the first 2,000 users that join. They saw a short countdown before the game begins. There were 3 rounds of questions on IOVLabs and DeFi. The quicker the user responded to each question, the more points they got. The Top 3 players of the ranking at the end of all questions got a prize: 1st prize $100 split beween RIFP and RDOC, 2nd prize $75 between RIFP and RDOC and 3rd $25 between RDOC, RIFP.

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