Every new day brings a new possibilities, as well as SatoshiClub gives possibilities to learn and earn to all its members. So, today we would like to tell you about the AMA session with our friends from KardiaChain. The AMA took place on August 12 and our guests were Tri Pham, CEO / CO-FOUNDER at KardiaChain and Anthony Vo, CFO at KardiaChain.
The total reward pool was 1500$ 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 | Satoshi Club: Hello, dear community! Today our guests are from @kardiachain , the National Blockchain of Vietnam. Welcome! 🤝
Irina K. | @satoshi_club: Hi everyone 🖖 Welcome @triminhph and @anthonyvo_KDC
Thank you for taking the time to join our AMA 😊
Tri Pham: Hello everyone. Thanks @iri_kravchuk for having us today
Irina K. | @satoshi_club: How is your day?
Tri Pham: it’s great 🙂
Irina K. | @satoshi_club: Our pleasure. Please tell us a few words about yourself And how did you start with Kardia Chain?
Anthony Vo: Hello everyone! It’s a great pleasure to get to know the Satoshi Club community
Serg | Satoshi Club: It’s a pleasure to have you here 🙂
Tri Pham: Definitely. I’m Tri Pham co-founder & CEO at KardiaChain. I was running a tech company in London for 5 years before founding KardiaChain. My mission is to bring innovative technology to the masses and blockchain is definitely an exciting industry. I build KardiaChain with the belief that we can drive mass adoption and build a better society with blockchain.
Serg | Satoshi Club: What company was it? Is it still functioning? smth related to fintech? London is a hub for this
Tri Pham: I was building apps for businesses, not really fintech but I did base the office in the “silicon roundabout” near Old Street for a while. I stopped running this company around 2018 when I decided to move on fulltime with KardiaChain.
Irina K. | @satoshi_club: It will bring a lot of efficiency and better services in the real world for sure. Fingers crossed 🤞 What about you @anthonyvo_KDC? What is your story? 😊
Anthony Vo: I’m Anthony Vo CFO at KardiaChain. My background is financial engineer and currently run a quant team at a commercial bank in the US. I joined Tri on this great business venture with the belief that this technology that we are offering will bring a unique product to market and drive a better society that is in need of more optimized payment & processing experience
Irina K. | @satoshi_club: Thank you guys for the introductions. In the first part we have collected questions from our community via our platform
Serg | Satoshi Club: Thanks for your introductions!
Q1 from Telegram user @iulya_i
By interoperable you mean that it can work across multiple blockchains? By non-invasive? What does it mean related to your product
Tri Pham: Good question. Thanks @iulya_i , interop means that via KardiaChain, smart contracts or Dapps can read and write data from multiple blockchains. Our solution is non-invasive because we don’t require changes in any of the blockchains we connect to. at first, we will focus on major blockchains, not every available chain out there.
Irina K. | @satoshi_club: How do you cover so many blockchains?
Tri Pham: the way it works is to have a group of dual nodes in charge for each blockchain, and depend on how much traffice and value of the data crossing between that blockchain and KardiaChain, we have a mechanism in place to increase the number of nodes in the group.
so more blockchains = more dual node groups
Irina K. | @satoshi_club: Ok, thank you for the explanation. We’ll cover more on Dual nodes in one of the following questions.
Q2 from bitcointalk user elissa
Please explain your partnership with Coinplug. On what are you working? Why do you need the DID alliance?
Anthony Vo: I can take this question and Tri can add more color if needed
Irina K. | @satoshi_club: We’ll have a colourful answer
Anthony Vo: KardiaChain has been taking another important step towards achieving blockchain mass adoption in Vietnam by developing a decentralized identity (DID) solution and forming the first DID alliance in Vietnam in collaboration with our South Korean partner Coinplug. Firstly, we think highly of Korean market, and Coinplug is known in the market, their solution has been widely recognized with great track record of patent holding
In fact, Coinplug is a leading blockchain solutions provider for enterprises in South Korea, having developed blockchain solutions for Korea’s largest enterprises such as LG, Hyundai and KB국민은 — Coinplug is the #1 blockchain patent holder in Korea and top in the world.
Irina K. | @satoshi_club: That’s impressive. Kudos
Anthony Vo: Our exciting partnership with Coinplug will help to accelerate our initiative to co-develop DID based authentication services in Vietnam. Vietnamese Government has been actively supporting and pushing for industry 4.0 technological innovation such as blockchain and 5G, as a leading enterprise and government blockchain project in Vietnam.
KardiaChain is uniquely positioned to be able to integrate DID solutions on large-scale across top enterprises as well as government institutions, covering a large portion of the local population. We co-found MYKEEPiN VIETNAM (first DID alliance in Vietnam). MYKEEPiN is a user-friendly identity verification and authentication service that leverages DID and self-sovereign identity (SSI) technology
Irina K. | @satoshi_club: Is it already running? Or it’s still in dev mode?
Tri Pham: It’s at production level. However, the service is still waiting for rollout. We still have to integrate with the attestation agency (AA) such as telecom
Anthony Vo: As Vietnamese government has set priority to improve the digitalized infrastructure, the DiD will be the key for optimized payment and other online services and we are quite excited about this initiative!
Irina K. | @satoshi_club: When do you expect people to start using it? I mean when will it benefit the Vietnamese citizens for real?
Tri Pham: I’m looking at end of 2020. Lots of work in getting more AA and onboarding service providers.
Serg | Satoshi Club: Thanks for this thorough explanation
Q3 from bitcointalk user nyosant
Dual Nodes seem a great solution since they allow accessing two chains simultaneously (KardiaChain plus another blockchain). However, what would happen if a company decides to move from one blockchain to another, for instance from ETH to NEO? Would dual nodes allow that kind of changes and how?
It was partially covered but there are still some things to be explained
Tri Pham: that’s true
Let me rephrase the question first. Nyosant is asking if a dual node operator can switch his support to another network. For example, he is running KAI-ETH dual node, and now want to support NEO.
For the time being, the switch from KAI-ETH to KAI-NEO is a manual process. We will provide necessary scripts and debug tools to help the switch smoothly
In the future, we will combine ESWIM (Elastic Sharding With Incentive Mechanism) so Dual Nodes switch process can happen automatically when the incentive to switch is high enough
Irina K. | @satoshi_club: Who’s determining the value of the incentive?
Tri Pham: We let the network decides. ie. validators
Serg | Satoshi Club: BTW, I have a little question :blush: Can you tell us why a project would want to use 2 blockchains at the same time? What benefit do they have? For example KAI-ETH
Tri Pham: The need of using multiple blockchains arises when a Dapp want to: 1) expose to a wider user base, like both ETH and NEO users, 2) leverage the current applications and data available in different blockchains, such as trading NFT Crypto Kitties and Crypto Dogs, 3) use each blockchain for its own advantage, like cheap fee in TRON and more stability in ETH. And there are always DEXs, but now can do crosschain settlement, like NEP5 to ERC20.
Q4 from Telegram user @antonerem
I’ve seen that you have implemented a solution for a taxi platform in Vietnam. How can a a Blockchain technology improve the taxi platform? What are the new things you brought?
Anthony Vo: Thank you Anton Erem for following KardiaChain and bring this exciting news to the community
We at Kardiachain, with the collaboration of our growing list of partners, are placing ourselves at the forefront of Vietnam’s acceleration towards a cashless society. Green Card is our Mai Linh’s most recent take on digital transformation. The Main Linh company is one of the biggest players in a competitive taxi industry in Vietnam. Our partnership with them benefit both of us. From our perspective, it will accelerate our vision to wider user base and create more business usability for Kai holders. From their perspective, our innovative tech will help the company to offer a more optimized payment experience to their riders
Serg | Satoshi Club: they will be able to pay with KAI? or how exactly does it work?
Anthony Vo: That’s correct. They can pay with Kai or fiat.
Irina K. | @satoshi_club: Is there other functionality besides payment?
Anthony Vo: as for now, an effortless payment with QR and NFC is our priority, but I’m sure other opportunities will arise
Q5 from Telegram user Crypt0M0nk3y
With your business case with Vietnam government, are you planning to expand to other countries with similar characteristics of a high percentage of unbanked population (ie. Latin America)?
Tri Pham: I got this one quite a few times 🙂 I have to say our focus is on Vietnam until we onboard most of the population to blockchain.
Some of our partners already have services in several countries like you described. I did have some thoughts about this. But I love “think big and start small” 🙂
Serg | Satoshi Club: That makes sense 🙂
Irina K. | @satoshi_club: That’s a good attitude. It’s always better when you do first, and then move forward.
Q6 from Telegram Username @alpulusoy
As far as I know, the Kardia Smart Contract Language System (KSML) – one of the unique and innovative technologies of KardiaChain. So, to deploy a multi-chain smart contract on test net, what programming skills do users need? Why does KardiaChain claim that KSML is designed to be the optimal tool for developers to deploy multi-chain smart contracts without requiring prior in-depth knowledge or experience?
Tri Pham: good question. Let me cover this. Why does KardiaChain claim that KSML is designed to be the optimal tool for developers to deploy multi-chain smart contracts without requiring prior in-depth knowledge or experience?
By using KSML, developers will only need to write smart contract codes once on KardiaChain, this code will then be automatically translated to other smart contract programming languages like Java, Solidity, C++ and deployed on other public chains like Ethereum, NEO or Tron. This significantly lowers learning curves and DApp deployment times.
As far as we know, currently there is no tool that allows Dapp developers to comprise multiple smart contracts of different blockchains (and potentially different languages) in a single Master smart contract.
For example, there is no clean way for a Dapp developer to write something like “request account 1 on ETH to send 10 ETH to account 2, AND once that transaction is confirmed on ETH, request account 2 on NEO to return 200 NEO to account 1”.
With KSML leveraging Dual Node technology, you can specify all these operations through multiple smart contracts deployed simultaneously on ETH and NEO.
Serg | Satoshi Club: That’s a nice feature btw and I guess that there is a lot of work done to make it possible
Anthony Vo: there was indeed 🙂 We are fortunate to have a great technical team with members from top tech firms in the world (google, amazon, etc.)
Serg | Satoshi Club: Great 🙂 Thanks a lot for this good answers. In less than a minute we will open the chat for the live questions part
Part 2 — live questions from the Telegram community
Q1 from Telegram Username @Nickkiii
The only way the blockchain industry will expand and grow is if we have users that will be able to use products with ease. What are some of the unique features of Kardiachain that would help attract more users ?
Anthony Vo: You are absolutely correct! Our vision of mass adoption has led us to set our business strategies to develop partnership with traditional businesses that have millions of users. Our tech helps to make blockchain transaction invisible to end users – Mai Linh, OnSport App (television), Gelemxico (RE & banking) and many more. Your observation is spot on.
Q2 from Telegram Username @SitiA09
Blockchain has practical applications for a number of industries, such as KardiaChain’s applications for data storage, but the technology is often explained in difficult terms. How do you encourage people and businesses to adopt blockchain when many don’t understand what it really is?
Anthony Vo: Great question. Our goal is to develop Dapps that are available and accessible to end users. It’s like you don’t need to know how every piece of equipments in car work, but you can still be a wonderful driver. This strategy will help us to connect more users while minimizing education learning curve.
Q3 from Telegram Username @ilham1908
Kardiachain recently (about 1month) announced their partnership with Geleximco. What’s the main reason behind this partnership? What kinds of positive result can we expect from this partnership?
Tri Pham: Geleximco is one of the largest conglomerate in Vietnam with businesses span across industries. This partnership followed our approach in working with major players to effectively develop use cases and acquire users. Results of this will be KAI and KardiaChain technology integrated into Geleximco ecosystem, such as real estate and banking.
Q4 from Telegram Username @Orrangelp
DeFi is one of the hottest topics in the blockchain field. Can you share your opinion about DeFi with us?
Do you think DeFi will destroy the existing financial system?
What’s Kardiachain approach towards DeFi?
Anthony Vo: DeFi is definitely one of the hottest topics in the field. We are having a couple of products in our pipeline but a bit premature to announce. I personally don’t think that DeFi will destroy the existing financial structure, it should be supplementary factor for the areas that need to be more optimized and there is a ton of them.
Q5 from Telegram Username @Orrangelp
I saw on your platform that one of your ecosystem products is “ESWIM”. Can you explain what is the role of ESWIM in Kardiachain ecosystem & How it work?
Tri Pham: ESWIM (elastic sharding with incentive mechanism) is a key feature to guarantee that the whole network (KardiaChain + groups of Dual Nodes) can always operate at its optimal state in terms of fee, performance, and security.
The way ESWIM works is we collect the signals from all participating chains (ETH, NEO, TRX) to estimate the transaction traffic and fee in each chain in real-time. From these estimations, we do some ML with complex computation to figure out the right amount of validators that should be in each Dual Node group to ensure the most efficient state for the whole ecosystem.
Then we can incentivize the validators to stay in one group or move to other groups through different methods like increasing staking awards for the groups with fewer validators, or increasing deposit requirements for groups already have more validators etc.
Q6 from Telegram Username @melanintrish
Marketing is a central element for every project, so that everyone knows the potential that a project can bring. What is your strategy to attract new users and Investor to Kardiachain and keep them long term?
Anthony Vo: Your observation is spot on. We are paying very close attention to the marketing aspect. Recently, we are very excited to have a new CBO Johhny that joins our team. He is a seasoned business specialist and outlined a detailed roadmap for Kardia to reach a significant number of users from now to end of 2020 as well as longer team. We shall have these information available when the time is right 🙂
Q7 from Telegram Username @CrypTo_Damiya
How do you plan to explain such technical topics to a wider audience? How do you plan to show the world that your product is not just another useless blockchain solution to a non-existing poblem
Tri Pham: We are doing exactly the opposite. We want our blockchain technology invisible to end-users, like internet and electricity. Users will only see the benefits of having control over their token and can exchange for products and services. They can earn, store, stake and use KAI without learning about blockchain.
Q8 from Telegram Username @Sadikst
How will KardiaChain resolve three major pain points for crypto investors: diversity, value, and convenience? Which specific about technology and strategy of KardiaChain that make you believe it will be successful?
Anthony Vo: It’s a great question Angel. We are well aware of these pain points and hence, our current strategies in place are to minimize / avoid them for Kai holders. Our partnerships with many traditional businesses would allow Kai holders and investors to conveniently use their Kai without technical barrier. Our service-providing partners range from television, telephone, taxi, airline, and others really help to diversify the portfolio and use cases for Kai. These two reasons along with our interop fuctionality of our core tech help to drive the value of Kai
Q9 from Telegram Username @Sadikst
There are users who do not have much technical knowledge about this whole crypto world. What does kardiachain offer these users? the platform, the app is designed with these users in mind?
Tri Pham: This is the reason why we are working with major service providers to avoiding educating the market. KardiaChain and KAI will be integrated in the background. Our partners will help onboard and guide users as they understand their users much much better than us.
Q10 from Telegram Username @Rojib_mia
Can #KARDIACHAIN give me 3 main points to connect me and other angel investors to invest in long-term?
Anthony Vo: 1) Our track record of sucesses in providing innovative blockchain-driven solutions to partners in traditional business setting
2) The company is supported by local government; hence minimal legality obstacle to bring blockchain to mass adoption
3) Kai has appreciated in value significantly since it began listing on more popular platforms and there will be more
Part 3 – Quiz Results
In the final part we would like you to check your knowledge in terms of KardiaChain. 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
Fill in the blank “KardiaChain is the world’s first …. interoperable and non-invasive blockchain platform.”
A. Fully
B. Feasible
C. technical
Q2
What does KardiaChain’s ADapp mean and what is our strategy for achieving mass adoption?
A. – Adoption Dapp, collaborate with top enterprises and government bodies to decentralize their existing products/services
B. – Advertising Dapp, collaborate with top enterprises and government bodies to decentralize their existing products/services
C. – Advertising Dapp, collaborate with SMEs to decentralize their existing products/services
Q3
What is the product that we and our partner Mai Linh Taxi the biggest taxi company in Vietnam together launch for convenient rides?
A– TaxiCrypt card
B– Blue Card KardiaChain
C– Ride Card for KAI holders
D– Green Card
Q4
What is the company name of MYKEEPin ALLIANCE that KardiaChain also partners with to build a DID alliance in Vietnam?
A. Metadium
B. Coinplug
C. KAYBO
D. LG CNS
Answers
- A.
- A.
- D.
- B.
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