Privacy is becoming more illusory in this world, but there are always those who will defend it. And today they visited Satoshi Club. Today we would like to tell you about the AMA session with our friends from Findora. The AMA took place on 19 September and our guests were Eli, Cameron Dennis, Damien Leung, Lucca and Charles.
The total reward pool was 1000$ 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
Mary | Satoshi Club: Hello, Satoshi Club:grinning: We are happy to announce that today our guests are from Findora:grinning: @getsie @CameronDennis @damienll @e321li @charleslu welcome to Satoshi Club:+1:
Serg | Satoshi Club: Hello, dear community. Our guests today are from @findoranetwork
Welcome to Satoshi Club! 🤝
Eli: Hello Satoshi Club from Findora Team!!!
D. | Satoshi Club: hello all! welcome to Satoshi club guys!
Mary | Satoshi Club: Could you tell us some words about yourself :grinning: and how did you start with Findora?)
Cameron Dennis: Hi everyone :wave: It’s great to connect with all of you 🙂
Eli: I was recruited by @charleslu at a blockchain meetup hosted by the Stanford Blockchain Club which was founded by @charleslu himself!
Mary | Satoshi Club: How long are you in crypto?)
Eli: I’ve been in crypto since 2016. I grew up in SF Bay Area and heard about bitcoin and its potential to transform the financial industry. I got involved by going to to different meetups/events and joining groups like this one!
Mary | Satoshi Club: Nice start:grinning: so, tell us what is Findora and it’s main goals)
Cameron Dennis: Hey @madamlobster @Cool_as_Ice! I joined the team a few months ago after I met Eli at the Stanford Blockchain Conference. I help run marketing and operations at Findora and have been working in the blockchain industry for the last three years. I originally learned about Bitcoin in 2014 and currently run a 501(c)(3) nonprofit in the US that starts accredited blockchain development courses around the United States (mainly in California)
Mary | Satoshi Club: Early adopter))) so, you have your own courses?
Cameron Dennis: My nonprofit has started the first courses at UCLA and UCSB but we’re here today to talk about Findora.
Fortunately, Findora ALSO has it’s own free online course where you can learn everything from bitcoin, to consensus, to digital signatures, and more! – https://www.youtube.com/channel/UCkhY3HZViowhJC4UWxfqpJw/videos
D. | Satoshi Club: great! thank you! i have a small question: what Findora means? it’s some abbreviation?
Charles: There is no official explanation for the name Findora 🙂 The goal is to have a unique name to describe our vision of a fundamental platform for the vast world of global finance!
D. | Satoshi Club: ok. got it! thank you for answer!
Mary | Satoshi Club: Hi, @charleslu 😀
Charles: Hello Mary:smiley: thank you for hosting us!
Damien Leung: Hi. Findora is a public blockchain built with advanced cryptographic technology and verifiable computation framework. Our main goal is to help build the new global fianncial infrastructure that everyone can use.

Serg | Satoshi Club: Everyone is joining little by little 😁
Mary | Satoshi Club: Yes:joy: we have a nice party)
D. | Satoshi Club: party is not even started yet 😉
Mary | Satoshi Club: Guys, thank you for your intros and may be we will start with the questions from the part 1? That’s means questions party:joy:
Eli: sounds great!
Q1 from bitcointalk user nyosant
Findora will aim to support any kind of assets, which is a huge goal, so what measures will you implement to avoid toxic assets infiltrating your system? E.g., to avoid scams or things such as subprime lends, which were legal in their time, but caused a financial disaster.
Eli: Findora is fundamentally a blockchain technology platform and will provide a balance between transparency and confidentiality. We provide tools that enable users to demand more transparency. Our auditing tools enabled by ZKP can give users a holistic view of assets. Users will be able to assess the assets much more efficiently than on a traditional fragmented system. The Findora ledger gives people the ability to see thoroughly without infringing on business privacy.
Damien Leung: I think a 2008 financial crisis would not have happened on Findora, becasue the toxic assets would be detected easily.
Mary | Satoshi Club: In which way? For example, i am your user from the future?) How would i detect them?)
Damien Leung: Yeah. Say some irresponsible bankers wrapped subprime loans and their deravitives into a complex package of assets and sell as investment grade. Findora blockchain will make sure the underlying assets can be confidentially traced to the root. Hence, the buyers will easily understand the quality. And also, because people all work on the same platform, we will get a holistic view and much easier to figure out the wrongdoings without infringing on privacy
Mary | Satoshi Club: Nice feature :+1: When you are planning Findora network to go live?)
Damien Leung: Good question! We already have a powerful testnet live! I am hoping we can open to the entire world and be ready for business very soon!
stay tuned :heart_eyes:for our official announcement
Cameron Dennis: Newsletter: https://tinyurl.com/yyz7va94
Mary | Satoshi Club: Don’t forget to inform us before:wink:, we like to know about secrets or news)))
Eli: of course!
Q2 from bitcointalk user george.bend
I’ve seen that you have several members from the team/advisors which had high positions in big exchanges. That’s good. I will not ask if you are gonna list on them because it’s NDA 😀 to make it easier to answer: Do they still have good relationships with those exchanges? 😀
Mary | Satoshi Club: More secrets)
Lucca: we like secrets, that’s why we have the best privacy in Findora 😛
Eli: the short answer is yes, we are on good terms with various partners including exchanges both crypto and traditional as well as many other regulated financial institutions
Mary | Satoshi Club: Can you give us some names):wink:
Eli: stay tuned for more details (;
Mary | Satoshi Club: Ok, got it:+1: so, next question?)
D. | Satoshi Club: secrets secrets )
Eli: yes please!
Q3 from Telegram user @ji_sun_kor
Ethereum, monero, banks are using your technology. what technology specifically? did you partnered with them or they just bought the right to use it? Thanks
Charles: The fact that these projects and institutions chose to use our technology speaks to the amazing technical prowess of our team.
The technology used by Monero and JPMorgan: Bulletproofs, invented by Benedikt Bünz, our founding team member and head of research
A technology used by Ethereum 2.0: Verifiable delay functions, formalized by our cofounder and CTO Ben Fisch, Benedikt Bünz, advisor Dan Boneh, and peers
There’s also plenty other projects that make use of these and other technologies developed by Findora team members
Our partners make use of not just published research and technology, but also use our custom built solutions for enterprise.
D. | Satoshi Club: could you tell us a bit about ‘bulletproofs’ and how does this technology work? in simple terms
Charles: Simply put, Bulletproofs were a massive breakthrough in the world of zero knowledge proofs because they are (1) efficient (2) require no dangerous trusted setup with “toxic waste” (3) and fast. They allow you to prove something is true without revealing it. For example, we can prove a transfer amount is valid using a range proof enabled by Bulletproofs
Mary | Satoshi Club: It will look like some tx hash or… This proof of transfer?
Charles: Yes it will look just like any other random data, so it fully preserves privacy
Lucca: (a range proof allows you to prove a number is within a range, say 1-1000000, without revealing the amount)
Q4 from Telegram user @abedmahmud
You have an open zero-knowledge blockchain. It means that it will be a privacy coin, right? Do you think that we need another privacy coin in the market? what new it brings
Cameron Dennis: First of all it’s more than just a privacy coin. It supports private assets of any nature and private smart contracts. Findora also makes use of a lot of new technology, like accumulators and zkrollup, that allows us to scale way more than other privacy coins.
Secondly, Findora also has a focus on auditability and compliance. projects and individuals on Findora can prove many things about themselves without losing control of their privacy. This is a big shift from other privacy coins.
D. | Satoshi Club: Findora is faster than other private coins on market?
Cameron Dennis: This means anyone can issue their own and unique privacy coin 🙂
Mary | Satoshi Club: Which main focus do you have – on projects or individuals?)
Damien Leung: We are all in to empower financial democracy to individuals!
Charles: We are optimizing for many important factors, including transaction size, security, confirmation time, proof verification speed, prover speed, etc.
And we are targeting the optimal solution for many use cases!
Lucca: Findora is also interoperable, so large projects that use Findora will also be directly available to individuals, wether they are running their own sidechain or not.
Mary | Satoshi Club: You will have sidechains not tokens, am i right?
Lucca: sidechains have the same functionality as the main network, so they can issue tokens etc on the sidechain. the difference is that they can run with a different consensus alrogithm.
Mary | Satoshi Club: Which use cases Findora will have?
Eli: our infrastructure supports all varieties of financial assets such as, but not limited to: private cross border payments, lending services, DEX, dark pools, etc.
Mary | Satoshi Club: Oh, i see, that’s great:+1:
Q5 from Telegram user @ACMILANfanatico
Supersonic is a feature which belongs only to you. it has a zk-snark. Very tech thing. Can you explain in simple words what is this and what features does it have?
Lucca: A zk-SNARK is a type of zero-knowledge proof(ZKP). This means it’s a technique for proving a certain statement to be true, without revealing the contents of that statement.
In cryptocurrency/Bitcoin terms, this means I can use a ZKP to send somebody 5 Bitcoin, but rather than telling the blockchain directly that I sent 5 Bitcoin, I send a ZKP.
This will prove to the blockchain that I am being honest. Any observer can see I haven’t created Bitcoin out of thin air, without me having to reveal how much was sent or to who. So it allows for very good privacy.
In the past zk-SNARKs needed a trusted party to work together in order to set up the system. If the party behind the setup worked together, they could break the entire system. This is called a ‘trusted setup’. This is used by projects like Zcash.
Supersonic is a new kind of zk-SNARK that doesn’t need a trusted setup. So there is no party that can break the system. This is known as a ‘trustless setup’ or a ‘transparent setup’
Mary | Satoshi Club: And you already tested this technology? By the way, how your tests going?)
Charles: Yes—we are rigorously auditing and testing our technology since so much is at stake! First of all, Supersonic has a peer reviewed academic paper: https://asz.ink/wp-content/uploads/2019/10/dark.pdf
Since then we have made further improvements and are spending lots of resources testing and validating it
Mary | Satoshi Club: You are auditing by yourself or with the third part?)
Charles: Supersonic is a big breakthrough so many other teams and groups in the zero-knowledge research community are working on improving and testing it. 🙂
Mary | Satoshi Club: It means it would work perfectly :grinning::+1:
Q6 from Telegram user @jonahapagu
Findora platform has what is called a “Financial passport” which aggregates Informations about a user, what types of information does this Financial passport aggregate and how does findora secure this financial passports and ensure that this data cannot be compromised by third parties
Lucca: There is no real limit to the types of data you can aggregate. It can be for insurance, income, accredited investor status, etc. It all depends on the types of entities that are handing out credentials.
Users will be able to control their financial passports much like they control other cryptocurrencies. As long as you own your keys, the data can’t be compromised.
Charles: Yup! You can think of it as a wallet for your identity and credentials instead of your assets. We hope to allow users to take control of their private and personal information! We are using various technology for our implementation, including a very cool concept called “selective disclosure credentials”
Mary | Satoshi Club: Can you give an example from life where this passport may be needed? Or used)
Eli: applying for a mortgage, credit card, registering for an investment account, etc
Charles: Yes, in these cases, users could potentially prove they meet the requirements but without sharing their specific personal information 🙂 this helps preserve user privacy
Mary | Satoshi Club: So, institution which has some requirements will point them and if my passport satisfy them they will approve my needs without seen my information?
Lucca: right, for example the range proof we mentioned earlier can be used to prove you are an accredited investor without revealing your financial data.
Charles: Yes, simply put, you could generate a zero-knowledge proof to prove you meet the requirements without seeing the specific information.
Mary | Satoshi Club: Oh, now i understand thanks:grinning: Live questions?)
Eli: we’re ready
Part 2 — live questions from the Telegram community
Q1 from Telegram user @Hendrasico
DeFi is one of the trendy subject matter in the blockchain space. Can you share your opinions and insights on DeFi with us. Do you think that DeFi will disrupt the existing financial system? What is $Findora approach towards the DeFi sector? We would love to see $Findora on Defi
Eli: We believe that DeFi is reshaping the way that people access financial services in a way that gives them access to products and services regardless of their location, economic status, or identity. DeFi needs privacy to gain mainstream adoption which is exactly what Findora is providing to the DeFi ecosystem
Q2 from Telegram user @jobel4
Can you explain the reason why Findora’s libraries are written in Rust, with a focus on security, by veteran secure C and C++ experts? What will be the additional security that it brings to your network? Can you also explain C and C++ security?
Charles: Great question! Findora is being designed and implemented from the ground up for security, performance, reliability, and interoperability. Rust helps us meet all those goals. Using Rust for implementation helps us eliminate large classes of potential bugs and vulnerabilities in our code while also ensuring performance as fast as highly optimized C++ code. All our cryptography and base platform code is based on Rust
Q3 from Telegram user @chunhocxitrum
There are many public chains also integrate privacy features (zero-knowledge), so what make Findora different and unique about Security and Privacy?
Charles: Findora is aiming to go beyond other blockchain projects in both functionality and performance. In terms of functionality, many other projects using zero-knowledge only support simple operations such as single asset transfer. Findora aims to provide advanced privacy and auditability tools using zero-knowledge including multi-asset transfer, proof of solvency, private credentials, asset tracing, and more. Since Findora is also underpinned by the latest research developed by our researchers, we have made massive strides in performance and other considerations, such as eliminating the need for trusted setups
Q4 from Telegram user @Aleurich
How can Findora be auditable if it uses zero-knowledge techniques? Are transactions discovered at the time the audit is required? Or does their anonymity prevail?
Lucca: Findora’s main auditability comes from something called ‘verifiable selective reveal’. This is an umbrella term for techniques that are used for auditing purposes.
A user can selectively reveal components of their private data, instead of their entire personal financial profile. In many cases, users and projects can prove complex statements about themselves (e.g., an income range, proof that they are an accredited investor and complex combinations of several qualifications) without revealing any additional personal details at all. Findora has specifically developed techniques to achieve this, such as proof of solvency and proof of whitelisted asset, which, for example, allow investment firms on Findora to be audited without infringing on their privacy.
Q5 from Telegram user @huydo
Why do you think public blockchain is suitable for individuals and enterprises rather than private blockchain for privacy-preserving transparency?
Eli: Findora provides the flexibility to support public/private individuals, enterprises, and organizations through a modular approach to our design that allows for the operation of public and private networks. This satisfies the needs for all types of users for their required network environment
Q6 from Telegram user @Jhonathanch
One of its partners is Tencent Cloud! How does this association generate profitability for the Findora ecosystem? Besides this, what other partners support the project? Thank you!
Damien Leung: Great question! The project is to build a world class transaction-as-a-service platform that is connected to the Findora public blockchain. This platform can be used by anyone to conveniently take advantage of the most secured trtansaction processing system in the world: TRX metadata are kept locally in a decentralized way and only the zk proofs of the TRXs are in the cloud: making the system unbreakable. This transaction-as-a-service platform scales automatically when the users scale. I see this is a game changing product to seamless move financial ledgers to the blockchain and to the cloud. We have a variety of partners particiupating in the development including some international banks, DeFi projects and so on.
Q7 from Telegram user @tv100029
What Language does Findora’s Smart Asset Framework use ?
Charles: Findora is developing a special domain-specific language (DSL) called Discret, which will enable financial applications to be expressed as “smart contracts”. Our language has various exciting properties, such as being easy to audit and verify, being integrated with our privacy tools, and more. We hope to make it available for our community to begin developing apps soon!
Q8 from Telegram user @Aguacate30
We know that financial services in most countries are accessible to large entrepreneurs or business people with a lot of money. How can Findora break this barrier and make financial services accessible to small business owners too?
Charles: Great question! Traditional financial services are often limited to only large institutions and the super wealthy. Access is certainly not equal across the board. One big reason is because the barriers to auditability and due diligence are so high. Another reason is that large institutions amass data silos, often keeping and profiting off users’ personal information and engaging in rent-seeking behavior. Findora’s technology aims to meet the basic requirements of privacy while also providing additional auditability, so that the barrier to entry for financial services is low and it’s also easy for anyone, not just large institutions, to perform due diligence. At the same time the vision is to eliminate data silos so that data is interoperable and users can remain in control of their financial data! 😄
Q9 from Telegram user @boehmcarmel
I’m interested in contributing to Findora , Do you have any Global Ambassador Program, if yes, how do I apply ?
Lucca: Yes! We are currently developing an ambassador program. You can e-mail [email protected] and stay tuned to our newsletter for information on when we launch the program: https://tinyurl.com/yyz7va94
Q10 from Telegram user @clindad
What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships?Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to $Your platform and keep them long term.
Cameron Dennis: We are taking a multi-strategy approach to expand internationally that includes hosting educational meetups and conferences around the world, partnering with some of the largest blockchain and non-blockchain companies, building great relationships with key media partners, working with legitimate staking-as-a-service companies, teaching courses at universities, and much more.
We have seen that developers are very interested in building on top of Findora because they cannot seamlessly issue verifiably confidential assets on other other platforms.
As for investors, our team and product speaks for itself. Many credible investors, like Polychain, have expressed interest in participating in supporting our growing project.
Up to now, we have been primarily focused on development and strategic partnerships. We are in the early stages of executing our marketing strategy and there is a lot more to come 🙂
Part 3 – Quiz Results
In the final part we would like you to check your knowledge in terms of Findora. They’ve prepared 4 questions for this part, so everyone could be a part and answer. All the correct answers you will find at the bottom of this Recap. Enjoy!
Q1
What is Findora?
a. Findora is an open zero-knowledge blockchain-based network that enables individuals and enterprises to transact with privacy-preserving transparency.
b. Findora is an ERC20 token on Ethereum for permissionless controlling and sharing of data, while keeping user data confidential.
c. Findora is a mobile first blockchain platform that makes financial tools accessible to anyone with a smartphone.
d. Findora is an open source and non-custodial protocol enabling the creation of money markets. Users can earn interest on deposits and borrow assets.
Q2
What is a zero-knowledge proof?
a. A kind of data encryption where a user doesn’t have to know any encryption keys.
b. A technique for proving a statement is true, without revealing what the statement is.
c. A technique used to prove someone doesn’t know something specific.
d. The ability to perform an operation on encrypted data, without having to decrypt it.
Q3
What is the name of the trustless zk-snark invented by Findora co-founder Ben Fisch et al in 2019?
a. Plonk
b. Spartan
c. Supersonic
d. zkSTARK
Q4
Which of the following projects make use of research and technology invented by Findora co-founders Benedikt Bünz and Ben Fisch.
a. JPMorgan, Monero, Ethereum 2.0, Filecoin, Chia, Zcash.
b. Cardano, Bitcoin, stellar, tezos, cosmos
c. Polkadot, XRP, Algorand, iota, REN
d. EOS, Tron, NEO, Dash, blockstack
Answers
1. a
2. b
3. c
4. a
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