{"id":1056,"date":"2020-07-10T21:39:26","date_gmt":"2020-07-10T18:39:26","guid":{"rendered":"https:\/\/esatoshi.club\/?p=1056"},"modified":"2020-07-10T21:43:35","modified_gmt":"2020-07-10T18:43:35","slug":"unification-x-satoshi-club-ama-recap-from-july-9","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2020\/07\/10\/unification-x-satoshi-club-ama-recap-from-july-9\/","title":{"rendered":"Unification x Satoshi Club AMA Recap from July 9"},"content":{"rendered":"\n

Welcome to a new chapter of Satoshi Club AMA series. Today we want to tell you about an interesting session with Unification<\/a> project that took place on July 9. Our guest was Neyma Jahan (@neymajahan<\/a>). <\/p>\n\n\n\n

The total reward pool was 6000 FUND ($300) and it was splitted into three parts.<\/p>\n\n\n\n

In this AMA Recap we will try to summarize some of the most interesting points for you.<\/p>\n\n\n\n

………………………………….. <\/p>\n\n\n\n

 PART 1, INTRODUCTION AND COMMUNITY QUESTIONS<\/strong><\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>Hello! @neymajahan<\/a>\nwill join us for today AMA. Welcome!<\/p>\n\n\n\n

Neyma Jahan:<\/strong> Thank you for having us today, really excited\nto spread the news about FUND.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>Thanks for joining and thank you for your time\n😊<\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>We are glad to have you here. Before we start\nwith the questions from the community, please tell us a bit about yourself and\nabout Unification.<\/p>\n\n\n\n

Neyma Jahan: <\/strong>Unification is a Hybrid blockchain designed\nfor enterprises, we solve the speed and scalability issues found with other\nchains, through our WRKChain solution – \nwhich allows full horizontal scaling, while maintaining public trust\nthrough stamping to Mainchain at the cost of 1 FUND per stamp. Our team has\nbeen working on FUND for over 2.5 years and just in May released our native\nnetwork which is live now with staking.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>@neymajahan<\/a> please tell us a little bit about yourself,\nhow did you come to be involved in Unification?<\/p>\n\n\n\n

Neyma Jahan: <\/strong><\/p>\n\n\n\n

*First audio in an AMA session at satoshi club.*<\/figcaption><\/figure>\n\n\n\n

Summary\nis that our core team has run an enterprise dev shop for the past 10 years and\nfully transitioned into blockchain in 2017 to start Unification.<\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>with what enterprises have you worked? \ud83d\ude42<\/p>\n\n\n\n

Neyma Jahan: <\/strong>We have numerous clients, some public ones\nthat we can disclose are mentioned here in this article  https:\/\/www.forbes.com\/sites\/darrynpollock\/2019\/04\/26\/brazilian-medical-records-getting-blockchain-boost-may-be-the-route-to-digital-identity-adoption\/<\/a> <\/strong><\/p>\n\n\n\n

There\nis also  www.finchains.io<\/a> and www.pac.foundation<\/a> <\/p>\n\n\n\n

Q1 from Telegram user @LeHai04<\/strong><\/p>\n\n\n\n

Generally staking-based projects in 2018 went into a death spiral\nbecause it was simply earn and sell, so right now what is Unification doing to\navoid this investor behavior?<\/em><\/p>\n\n\n\n

Neyma Jahan: <\/strong>Good question –  first off I need to say that purchasers of\nthe FUND token are not “investors” that term means something else –\nit is a subtlety of the english language, but semantics are important for us. They\nare token holders or stakers. <\/p>\n\n\n\n

That\nbeing said, I understand the spirit of your question and will try to answer.   We designed the FUND ecosystem to be 0%\ninflation for this and many other reasons.   \nSo a FUND token only gets minted and put to be paid to validators only\nin the case where there is usage in the network.  So we can mint up to 10m FUND per year-  but those have to be due to demand. So if\nthere is no demand, there is no new tokens and no inflation. If there is\ndemand, we can mint and distribute.  \nThis works as a self-governing system which will naturally balance and\navoid the death spiral that you mentioned with other projects.<\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>What is the demand right now? \ud83d\ude42<\/p>\n\n\n\n

Neyma Jahan: <\/strong>Our mainnet launched May14th and so far\nenterprises have acquired over 3m FUND \u2014 all on a recurring basis.  So their orders will renew each year-  We think this is very healthy. And we thank\nour business development arm which is working hard to bring the “Real\nworld” clients into Blockchain.<\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>That is good growth giving the fact that you\njust launched.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>Does this demand include trading made by\nholders? Or just activity on the network?<\/p>\n\n\n\n

Neyma Jahan: <\/strong>Traders will be traders, they buy and sell and\nbuy and sell.  the smart ones will stake\nactually because they see the long term future. However Real demand comes from\nthe results of our biz dev arm bringing in enterprises. we have a very limited\nsupply of FUND on the market and when an enterprise purchases some, they are\nremoving and using it only for tax.<\/p>\n\n\n\n

Q2 from Telegram user @Rosane1a8<\/strong><\/p>\n\n\n\n

Unification currently has 25 validators, would that represent a\nscalability problem as adoption increases, what would be the number needed in\norder to reach mass adoption, and how would you incentivate users to become\nvalidators?<\/em><\/p>\n\n\n\n

Neyma Jahan: <\/strong>First off there is no “scalability\nproblem” but I will take this opportunity to talk about our validator and\nstaking ecosystem. 😊<\/p>\n\n\n\n

Our\nnetwork is designed to take at maximum 96 validators, to be a validator\nrequires deploying and maintaining your own node.   When you have that you can set a commission\nrate that will incentive others to stake to you.  So validators will be competitive in their\nrates to try to lure and market to FUND holders. This is the best way to\nsupport the ecosystem. We have validators from Russia, Israel, Thailand,\nPhilippines, Us, UK, Australia etc.<\/p>\n\n\n\n

So\nbeing global and distributed is very important. If you are thinking about being\na validator, the best thing to do is join our technical discord and get a good\nfeeling for the communtiy https:\/\/discord.gg\/DaYrYjg<\/a>. They have plenty of guides on how to get\nsetup. Here is one from our community member on how to setup a node for $5 https:\/\/medium.com\/coinmonks\/how-to-set-up-a-fund-validator-node-for-5-777261a72d34<\/a>. And if you just want to stake (non-technical)\nhere is a great community article as well https:\/\/medium.com\/@xsigma\/how-to-setup-the-official-unification-web-wallet-stake-and-earn-fund-rewards-with-the-xsigma-fd8d74c46983<\/a>. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Q3 from Telegram user @alice_wonderland12<\/strong><\/p>\n\n\n\n

In a video Unification CEO mentions that they\nare working in a testnet to simplify the access to the data of patients in\nhealthcare systems of developing countries by having the data in one place with\nthe blockchain technology, what is the paper of blockchain, and specifically unification\nin this use case? and to which other situations do you expect to adapt it?<\/em><\/p>\n\n\n\n

Neyma Jahan: <\/strong>Great question – let me give you some\nreference links first – one is the article that we already posted by we can\npost it again https:\/\/www.forbes.com\/sites\/darrynpollock\/2019\/04\/26\/brazilian-medical-records-getting-blockchain-boost-may-be-the-route-to-digital-identity-adoption\/<\/a>. <\/p>\n\n\n\n

The\nother is a walkthrough of the health wallet, we apologize for the sound in the\nbeginning, it gets better https:\/\/www.youtube.com\/watch?v=lBFtJ_Y-co0&t=1s<\/a>. <\/p>\n\n\n\n

But\nthe core point of this initiative is to decentralize access to health data so\nthat the end user is in immutable control of that data. So as a user I can\ndelegate access to my records to a hospital\/clinic\/insurance but I still own my\ndata and it is my blockchain record. Obviously adoption here is the key to\nsuccess, and hence starting it in brazil where there is less red tape than\nother countries.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>But being on blockchain, doesn’t it make the\nrecords public?<\/p>\n\n\n\n

Neyma Jahan: <\/strong>The data is encrypted onchain –  only the key in the user\u2019s wallet can decrypt.\nThey can actually issue a temp revocable key to the providers to access. We go\nthrough the tech on the process here http:\/\/go.unification.com\/identitypaper<\/a>. <\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>That’s nice. You said it’s on testnet. When do\nyou expect to go live?<\/p>\n\n\n\n

Neyma Jahan: <\/strong>This is not a “public” project,\nhowever if you look at on chain records you can see that there are two beacons\ndeployed for it already timestamping FUND. So it is live already.<\/p>\n\n\n\n

Q4 from Telegram user @iam12312<\/strong><\/p>\n\n\n\n

You were about to release a project called PAC\nor public accountability chain. Can you tell us about it more? What will be its\nbenefit?<\/em><\/p>\n\n\n\n

Neyma Jahan: <\/strong>Yes of course, we just released yesterday\nactually-  there were 1,2 FUND purchased\nand placed into a tax bucket. You can see the details here https:\/\/medium.com\/unificationfoundation\/public-accountability-chain-pac-a-framework-for-distributed-data-828372f64095?source=collection_home—4——0———————–<\/a>. <\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

Or\ngo direct to the website here https:\/\/pac.foundation\/<\/a>. PAC is an immutable distributed project for\nrecordkeeping. So when there are records that need to be consolidated (from\ndifferent sources) Public Accountability Chain does that and stores them in a\nway that they are “protected” against the future.  So even if we wanted to remove them we could\nnot. The first deployment on PAC is a police accountability database where\nrecords of police misconduct are stored and searchable online.  others can add to this. <\/p>\n\n\n\n

We\nconsider PAC a powerful framework which has been getting interest from NGO’s as\na way to ensure public records are transparent.   right now PAC timestamps every 30 seconds to\nthe FUND mainchain, consuming 1 FUND per stamp so it is a good 360 fuel for our\neconomy.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>That sounds like a great initiative. We need\nmore transparency, especially in the public sector. Is this project global? Or\nintended for a certain region only?<\/p>\n\n\n\n

Neyma Jahan: <\/strong>We built it as a spiderweb framework that can\nkeep expanding way beyond our team. So we can contribute so much, but the power\nis when others take the framework and localize for their areas.<\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>Oh, yes. Like where are all the billions going.\nI mean about the package of the US administration for the companies.<\/p>\n\n\n\n

Neyma Jahan: <\/strong>it is a framework – so if someone feeds it\nthat data, it will be recorded and unable to be destroyed.  😃<\/p>\n\n\n\n

Q5 from Telegram user @MsKiwi206<\/strong><\/p>\n\n\n\n

I often use telephone but Wallet unification\nonly supports chrome extensions on the PC so your team have any plan to make a\nwallet unification version of the mobile app for Android \/ iOS app?<\/em><\/p>\n\n\n\n

Neyma Jahan: <\/strong>Right now the way to store and stake your FUND\nis on our chrome extension which you can find here https:\/\/chrome.google.com\/webstore\/detail\/unification-web-wallet\/mkjjflkhdddfjhonakofipfojoepfndk\/related<\/a> <\/strong><\/p>\n\n\n\n

We are also working on Ledger support for this extension, so your private keys will be in your ledger but you can use the chrome wallet. However, we understand that not everybody has a desktop browser, so our FUND Philippines community (https:\/\/t.me\/UnificationPH) discovered that you can use the Kiwi browser on android and it runs the extension just the same. Also we are in works with other wallet integration, however we found that 98% of people holding FUND in wallets wants to stake so all 3rd party wallets don’t support that. A native Android\/IOS wallet is in our roadmap, but something for later in the year.<\/p>\n\n\n\n

…………………………………..<\/p>\n\n\n\n

PART 2, TELEGRAM COMMUNITY LIVE\nQUESTIONS<\/strong><\/p>\n\n\n\n

The\nchat was open for 2 minutes; a lot questions were posted by the Satoshi Club\ncommunity. Our guest chose some of them. <\/p>\n\n\n\n

Q1 from Telegram User @Nickkiii<\/strong><\/p>\n\n\n\n

What if someone adds illegal data will that\nget into the PAC?<\/em><\/p>\n\n\n\n

Neyma Jahan: <\/strong>Good question, pac.foundation is a website\nthat is centralized and curated by our team – ie. . We decide what does on\nthere and what doesn\u2019t. So if there is illegal etc… data we won\u2019t post it. However\nPAC is a framework – like a blockchain – people can post what they want,\nhowever it is up to other participants to accept their contributions or ignore\nit.   It requires consensus in a way like\nbitcoin.<\/p>\n\n\n\n

Q2 from Telegram User<\/strong><\/p>\n\n\n\n

The UND WRKChain is semi-private which makes\nit\u2019s not fully decentralized, how do you plan to deal with attacks from\noperators?<\/em><\/p>\n\n\n\n

Neyma Jahan: <\/strong>Good question. WRKchains are semi-private, but being semi-private means that they rely on POA- or proof of authority. So being a node operator in a WRKChain, you must be selected by the original deploying team. So they need to do curation in that regards. Where the public aspect is, is when that WRKchain timestamps to the public mainchain.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club:<\/strong> So relying on POA makes them less vulnerable?<\/p>\n\n\n\n

Neyma Jahan:<\/strong> POA is a private network, so yes. the public aspect comes when you timestamp to mainchain.<\/p>\n\n\n\n

Q3 from Telegram User @jpsarmah<\/strong><\/p>\n\n\n\n

Coinmarketcap says 34,447,402 FUND are\ncirculating and Unification website says Total Staked: 47,863,310.0282 FUND.\nWhat is the actual circulating supply and in most staked tokens, price?<\/em><\/p>\n\n\n\n

Neyma Jahan: <\/strong>Good question, also coingecko says 96million,\nso which is correct! We gave all the same info to coin gecko and CMC and they\nhave different numbers so who knows. However we have our internal stats\ndashboard here https:\/\/stats.unification.io\/<\/a>. Which shows 96m circulating supply and 47m\nstaked, so over 50% of circ supply is staked already. If you want to keep\nupdated, we recommend you follow our stats dashboard or coingecko.<\/p>\n\n\n\n

Q4 from Telegram User @mhasan7<\/strong><\/p>\n\n\n\n

What Really is the Purpose of Making an\nAlliance called UEA or the Unification Enterprise Alliance and Do you have\ncertain criterias for those who wants to Join?<\/em><\/p>\n\n\n\n

Neyma Jahan: <\/strong>Good question you can see the UEA here https:\/\/unification.com\/alliance\/<\/a>. The purpose is to give access to Enterprise\nFUND allocation for businesses needing to operate on the FUND Blockchain and to\ncreate a like minded circle, say the “Noahs ark of Data”. Where we\nhave top of industry representatives from every industry starting a web or\nalmost franchise model expanding the FUND chain downline to their industry.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>Thanks for your answer. I think if someone is\ninterested in more details, he or she can take a look here.<\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>Thank you for being here with us today!<\/p>\n\n\n\n

Neyma Jahan: <\/strong>Please join our telegram at https:\/\/t.me\/unificationfoundation<\/a>. Thank you for being great hosts.<\/p>\n\n\n\n

………………………………….. <\/p>\n\n\n\n

PART 3, QUIZ AND INFO<\/strong><\/p>\n\n\n\n

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Unification. A link to a Quiz form were sent into the chat. Participants had 10 minutes to answer. 42 members with correct answers were rewarded.<\/p>\n\n\n\n

For more information and future AMAs, join our\nSocial Media channels: <\/strong><\/p>\n\n\n\n

English\nTelegram group: https:\/\/t.me\/Satoshi_club<\/a> <\/p>\n\n\n\n

Russian\nTelegram group: https:\/\/t.me\/satoshi_club_ru<\/a> <\/p>\n\n\n\n

Spanish\nTelegram group: https:\/\/t.me\/satoshi_club_spanish<\/a> <\/p>\n\n\n\n

Telegram\nChannel: https:\/\/t.me\/satoshi_club_channel<\/a> <\/p>\n\n\n\n

Website: https:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n

Our Partners: <\/strong><\/p>\n\n\n\n

Unification Telegram Group:https:\/\/t.me\/unificationfoundation<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Welcome to a new chapter of Satoshi Club AMA series. Today we want to tell you about an interesting session with Unification project that took place on July 9. Our guest was Neyma Jahan (@neymajahan). The total reward pool was 6000 FUND ($300) and it was splitted into three parts. In this AMA Recap we […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/1056"}],"collection":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/comments?post=1056"}],"version-history":[{"count":4,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/1056\/revisions"}],"predecessor-version":[{"id":1064,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/1056\/revisions\/1064"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=1056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=1056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=1056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}