We are pleased to announce our next AMA on April 23rd 2021 at 01:00 PM UTC Time: Satoshi Club x UTU
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join UTU Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. UTU Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about UTU
For more details:
UTU Website – utu.io
UTU Telegram – @UTUtrust
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
On April 21st, you released an update to your tokenomics and from what I gathered, you decided to extend the locking duration of the 200,000,000 Team token by additional 12 months. I know this may be a way to show investors that you are staying for longer, but I still wish to know if there are other reasons why this was done. Was this fully accepted by all the team members? Also, I can see that you now have 308,545,455 tokens allocated as Growth Round Tokens while another 300,000,000 is allocated as Ecosystem Growth Tokens and these tokens are not locked. What is the difference between these two Growth Tokens? How will it be managed and for what purposes are they for?
Users can earn $UTU Trust Tokens, $UTT, by providing trustworthy reviews to the protocol. However, you said that $UTT is non transferable and has no monetary value because trust must only be earned and not be bought. But you also said $UTT can be converted into UTU Coin to spend and trade. If $UTT does not have monetary value, how then will it be possible to swap $UTT into $UTU, a monetary token? What formula will you use to determine the quantity of $UTT that will swap to a another quantity of $UTU? Also, you added that the rate of converting $UTT to UTU will equally depend on users’ conversion behavior. How will you measure this behaviour?
One of the main Purpose of your project is to generally ensure that trusted recommendations for services are provided in what you call “UTU’s personal relationship-based trusted recommendations service”. How do you incentivize users to provide trusted recommendations on your platform, and how do you ensure that recommendations on your platform will be Honest and True and avoid a situation where users provide recommendations just for incentives
In Your project, your Trust API will analyze the activity of Hypersign users (eg website logins, purchases, etc) and assign to the users trust scores based on these actions.. How secure will the data you obtain from this users be, will users have total control of all their data, How will this trust scores be assigned, and what will they be used for in your platform
The last time you were here for an AMA like this, you talked about your socially powered Taxi app called MARAMOJA, has there been any new improvements or achievements on MARAMOJA you will like to share with us…
What other new implementations do you have on your platform that also aims at advancing your Goal of Establishing a Trust Economy using Trust as a Service (Tass)
In any online marketplace, establishing trust between the parties who want to do business with each other is a prerequisite for that business to actually happen. But the trust and reputation mechanisms widely used today, such as star ratings and reviews, which are often anonymous, are flawed and easy to counterfeit. What are the tools and rating protocol that UTU will implement to provide absolute and true confidence to users? What is the mechanism that UTU applies to provide a reliable recommendation?
As we well know, people generally trust people they know very well, usually family and close friends. UTU tries to offer a different approach based on social relationships to establish trust. How does the recommendation service offered by UTU work on its platform? Will they continue to implement the so-called scores? Who has access to the data provided by the user? What happens if the user refuses to provide their data?
The version 1 of UTU Trust API went live on March 31st and you have described it as a real model of human trust which can integrate with apps and web. What type of online business platform can integrate with your API and what doest it costs (in terms of money or software infrastructure/requirements) to facilitate easy integration? How does the combination of UTU API, Artificial Intelligence and blockchain help you to provide a reliable platform that can offer personalised recommendations which can be helpful in building an ecosystem of trust among business providers and consumers?
In previous sections, they describe the need to rely on open economic systems and the vision of high-level UTUs on how to address this challenge. What are the basic properties that UTU proposes to implement to specifically and fully address user trust? What is the trusted recommendation protocol and service based on? Can you explain what are the main components of this system?
“Trust” is based primarily on personal relationships with respect to human actors (but may have additional transactional components), as well as the type of interaction (eg, requesting a certain type of service) and its context. What are the data that a user has to provide to UTU in order to enjoy the recommendation system? If the user refuses to provide data to UTU, will she still receive a recommendation system? How do you carry out the analysis of personal relationships?
I assume as any platform that to provide good quality recommendations, this service needs to know who is related to whom, but also who trusts whom to give recommendations on what type of interaction / service and in what context. How does UTU obtain all this data? Who can use the UTU platform service? Do you apply the third party service to obtain data?
I understand that UTU trust tokens will be valuable to customers in two ways. Can you expand what these 2 ways are? Among these 2 ways is that customers can convert UTU Coin into fungible token? What is UTU Trust Token used for on the platform? Is there deflation in the UTU Trust token?
UTU works as a recommendation service based on reviews from friends, or family, but this makes me wonder about how will UTU work for a person that is the first one starting this sort of chain? What kind of recommendation will be shown and how will it be different then from other review apps if there is no one near them to provide their data and a trustfull review?
I saw that If the user provides their data, they will enjoy a recommendation system based on relationships with either passive or active feedback. Can you tell us what kind of data does UTU need to provide this recommendations? Because if the app knows what friend or relative recommended something, is it because it needs to go through our contact list and other kind of personal information?
Can you explain what are the advantages of the UTU project over other alternative projects in the Blockchain field?
WHAT are your plans for UTU COIN? Release schedule, and its use, benefit for the holder?
CAN we know about the partnership and collaboration system that exists at UTU today?
…
It is not a secret for anyone that apps like Instagram, Facebook and such, tend to trespass our privacy without us even knowing to obtain more information in order to give recommendations more suitable to us. So, with this said, how will we know that UTU is not “spying” on us like those apps? What guarantee do you give us that will make us sure that the information we decide to provide you is the only one you really get?
Not too long ago, Facebook suffered an attack where people’s information was leaked and hackers were selling it on the internet. That being said, could you give us more details about how secure will UTU be? How can users be sure their personal data that is entrusted to you won’t end up being sell on the internet?
I read that UTU has UTUToken and UTUCoin, can you share more of this currencies with us? what are the main differences between them? For what is design each one of this?
I could see that the main focus of UTU is based on companies and providing innovative tools with AI to personalize recommendations and increase user sales, but it would be interesting if this could also be used by independent entrepreneurs who are public figures, influencers or artists, can UTU also be useful for this type of user?
I fund hilarious on your whitepaper that you summarize that asking thousand of people who they trust the biggest percent answered “I trust myself, my family, and (most of) my friends” so you are creating a social-relationship approach to establish trust, but what happens if the user doesn’t have many relations on their social media or doesn’t share their preferences with external servers? Are the relationships the only way to run your protocol?
Which countries can currently use the UTU infrastructure?
UTU will have its own wallet, if so, which tokens will be compatible with it. If not, with which wallets can we efficiently work with the native $UTU token?
UTU tokenomics has been updated recently, can you tell us what changes have been made, what we can expect at the launch of $UTU and what strategies you are using to make it a success?
I was researching about the project and I found that you have a token called UTU Trust Token, and you say that this token will be rewarded to clients who actively participate in the system in two ways. Can you briefly explain to us what are these ways? Can all users participate? How can you actively participate in the system to earn UTU Trust Token?
According to your website, you own two tokens: UTU Coin and UTU Trust Token. But I am intrigued to know the reason why you have two tokens for the UTU project. Can you explain the reason why you adopt two different tokens in your project? Can I get benefits from one token and not the other? Lastly, these two tokens operate on different blockchains or on the same blockchain?
I’m curious about the relationship that UTU has with Ætertniy, can you tell us about this? In the project whitepaper you say that you chose to implement the main part UTU protocol on top of the Æternity blockchain. What are the reasons why you decided this? What are the benefits you got from this decision?
In your whitepaper you say that the objective of UTU is to facilitate the analysis of personal relationships and other relevant data in order to provide a “reliable recommendation mechanism”, which can be used by mediators or directly by individuals to obtain reliable recommendations. for their peers to do business. But on what aspects is the “reliable recommendation mechanism” based to provide recommendations?
A section of your whitepaper, you talk about punishments, and you say that clients may not only profit for endorsements, but might also be punished by them. I would like to know more about punishments and penalties. What type of penalty do they receive? How are these punishments carried out? And finally, under what circumstances is it punished?
According to your roadmap, UTU is currently in the second quarter of 2021. In total, you have 4 objectives for this quarter and I would like to know which of them have been finalized and which objective are you focusing on at the moment. Can you tell me a little about this? By the way, why doesn’t your roadmap contain the future plans for Q4 2021 and 2022? You have not established concrete plans for the future?
Among the trusted solutions offered by this platform through the blockchain there is one in particular that caught my attention and it is about the care of pets and babysitting services, who is in charge of qualifying these people who certify it to be called with the trust word? Those same people who are qualified as trusted persons must also be users of UTU, how does this process work from the beginning, and thank you ..?
It has happened to me that before downloading an application from a store I always read the reviews of other users to know if the application is good or bad, and I was surprised that some applications are marked with numerous spam messages as a bad application and it turns out that when the discharge is excellent, so there is no confidence in such reviews. How does UTU achieve honest transparency between user and provider to get fair ratings that are real and inspire trust?
For Business I see that the TRUST API of UTU is found, which also uses AI to better adapt to our tastes and preferences, but in this way we are safe in terms of private data? How are we exposed with this API, is it completely trustworthy?
UTU provides two ways by which UTU tokens can be earned which are; providing data into UTU ecosystem and making staked service endorsements. The reward earned depends on the endorsers’ stakes and system parameters, bounded by a 10% service fee and also implementing diminishing returns for increased stakes. What are these system parameters and how do they affect reward distribution, also can you carefully describe how the diminishing returns for increased stakes is calculated & implemented?
In Africa, it is a thing to create a project and it is another thing for people to understand and use the project. I know you have vision globally but starting from where the project was created – Africa, how do you plan to drive mass adoption? Your project is really a great one but without people it is not complete.
We have seen in recent days that bitcoin which was meant to be a p2p coin has now become a store of value due to high transaction fees. Your system has two tokens UTT and UTU. Do you have a structure in place to preserve its value and purpose in the long run? Moreso, the UTU coin is presently operating on the ERC-20 network with high fees. Do you have any plans to migrate to other networks?
Your whitepaper is on its version 3.3 and you even said in the top right corner of your whitepaper that it is updated automatically every 5 minutes, is there a need for you to be updating your whitepaper every 5 minutes. How do you communicate to your lovers/users, letting them know that what they saw in the roadmap is different from what they will see in the next 5 minutes.
Through a careful study of your updated tokenomics and release schedule published a couple of weeks back and going through the token allocation chart, I discovered that UTU has a token allocation for it’s FNF round called Friend and Family tokens with some of its allocations already released. Therefore, who constitutes the Friend and family in the UTU ecosystem, what is the importance of this token allocation to UTU and what are the requirements to be eligible for allocation in the FNF round?
You said the UTT token cannot be bought but it is earned. You also said the token will be used to endorse and recommend service providers. If UTT won’t be sold, then how can a new user get this token. Will there be a form of distribution for user that joins the system?
Regarding the creation of the taxi app in kenya and the fact you basically compared it to uber in New York cities. You complained about how the users of your taxi app do not care about driver’s ratings but they rather prefer to use the drivers stored on their phone book. Don’t you think you got it wrong from the beginning by not thinking about security approaches in the kenya region, because basically the security measures in kenya is very poor which makes them untrustworthy to any entity. What do you think about my thoughts and do you have plans regarding security measures.
You provide the p2p lending services and what baffles me is how it is going to work because thinking of it p2p is a kind of user to user interaction community, which actively removes any third parties. I will like to know if you as a company have a role to play when users lend themselves anything. How do you go on with users that doesn’t payback?
My question is based on the endorsement of service providers. A user can provide trusted recommendations which you called staked endorsement of services. What is unclear is the staking aspect. For us to make recommendations, are we staking with a coin or token? Which token is required? You also said that A user can make repeated endorsements for the same service, where each newly staked amount is added to the existing stake. Does that mean there is a maximum amount of one can stake each time?
It is very necessary that in order to create an optimal recommendation system you can clearly know the tastes of your users, however, how can we be sure that our privacy will never be exposed? How far do the parameters and regulations of private data sharing go in UTU?
According to their whitepaper, the use cases of UTU can be infinite, however, in particular, there are recommendation systems in social networks that can be annoying and invasive, how can UTU be customized so that the recommendations are always to the user’s taste? And how do they incorporate blockchain technology with this context?
I figured out that the UTU trust token is actively different from the UTU coin. I will like to know where both the token and the coin can be purchased and as a holder of the UTU trust token can you put me through the process of using it because i can not get to understand the utility of the token.
How do your UTU defi portal work, are the oracles that decide on how trustworthy/untrustworthy a defi tools are just ordinary users or they are AI created by you. Are there any assurances given to business holders when they engage in the B2C lending platform.
Reading about your story and knowing it started from happenings in the African community, why are your goals in the african community different from your goals in the oversees community. Do your program differs according to regions because basically i did like to know why you are trying to solve the same problem of trust but with different techniques according to regions.
UTU’s mission is to become the trust infrastructure of the entire internet, replacing anonymous star ratings, reviews, and scores as the de facto trust mechanisms of our digital lives. As this mission is the bottomline of what you wanted with your platform especially to become the trust infrastructure of the entire internet,can you explain to us how will you possibly realize this mission in the near future? With this mission of yours and since the time you launch,what part of this mission is being accomplish already so far? Since the pandemic time,how does UTU brings impacts and innovation with the de facto trust mechanisms of our digital lives? Thank you
Customers buy from companies that they trust, so how UTU can help increase customer trust especially to the company that they give their full trust? How does your platform helps a company to gain trust from their customer and clients? How does UTU measures the trust score of customers towards to their trusted brands or companies? How does your platform manage the customers feedback and suggestions? Thank you
The UTU protocol uses blockchain to reward trustworthy actors and ensure reviews and ratings can’t be manipulated. How can you ensure that both the reviews or ratings are accurately given by the reviewer? Every reviews are different, how can you say who is the accurate one with 2 opposing reviews?
The 300,000,000 UTU Coins of the Ecosystem Growth allocation will be used to facilitate UTT -> UTU conversions, and the rate of release will depend on users’ conversion behavior. So the rate of release varies and depends on the users? What kind of behavior are you pertaining to that will affect the release?
Insurance companies serving only around 3% of the African population, the vast majority of Africans still rely on social insurance. Poverty is still a big problem in Africa, do you think this is one of the reason majority of Africans cannot afford insurance policies in the first place?
Hi UTU!
UTU trusted recommendation service will deliver trusted service recommendations based on users’ and providers’ social relationships. Could you please explain how this system will be shielded from the bot spam attacks aiming to discredit good services or increase ratings of scam projects.
UTU users will earn from the reviews they create and the data they share. UTU pays you for creating trustworthy reviews and ratings and for sharing your data with apps that you use. Please tell us how you make sure users submit real and trustworthy reviews and prevent bad users from farming the system by submitting fake reviews?
I read that UTU has two tokens: UTU Trust Token and UTU Coin. Why did you decide to create two instead of using UTU Coin for every action on the platform? What are the specific use cases that are required to create UTU Trust Token?
Since UTT is non-transferable and cannot be bought with UTU Coin, how will users be able to get the tokens?
UTU is trust infrastructure for the internet and have native coin UTU Coin. Could you explain what are the role from UTU Coin in your project? Is it for governance, payment, or fees? Do we need to hold UTU Coin if we want use product/service from UTU?
I read that you just launching UTU Trust API v1 which use technology artificial intelligence trust engine. Can you explain how this AI system work to increase trust or make me trust a platform? For example I want to buy something from online and use marketplace online, how the AI make sure that the shop is not scam and how the AI’s system work to increase my trust into that shop?
UTU is founded to offer social relationship based approach to establishing trust, rather than scores, aggregated reviews and ratings in order to transform the sharing economy into a trust economy. But the blockchain is built for creating trustless systems. Why did you built a trust system and why exactly we need it on blockchain?
UTU want to become the trust infrastructure of the entire internet. But how do you increase trust from user to use UTU’s service? How trusted is your platform? Is it safe to use UTU and how about audit smart contract?
I see UTU project already create great partnership with big project like KardiaChain, Hyve, Curacel, Hypersign, Oasis foundation and many more. Can you share with us what are your expectation working with great partner like them? What is the benefit that UTU project already get from these partnership, any plan for other future partnership ?
Platforms like trustpliot e.t.c are presently flooded with fake reviews. Your project uses social relationship based approach instead of reviews. But if human is still the determinant factor, fake reports is still very much possible. How do you verify the identity of every user of UTU and how the you make sure they are socially related? Is there a form of punishment or reward for any action? Do you have a way to audit each service providers outside the reports gotten from the users?