QUANT NETWORK AMA: 10 SEPT 2018

QUANT NETWORK

AMA

ASK ME ANYTHING

10‑SEPT‑2018

TELEGRAM ‑ 7 MIN READ

HIGHLIGHTS SUMMARY

Q U E S T I O N (S)

A N S W E R (S)

Q U E S T I O N (S)  &  A N S W E R (S)

HIGHLIGHTS ARE MARKED WITH BLUE STRIPES

Question(s):

"With regards to the statement in the whitepaper that "Developers independently decide how much to charge for "their apps the users. A separate payment processor like PayPal will be used to help facilitate payments. The QNT token will be used to access the network through the Quant App Store as well as being used to be tie into identity.", I was hoping you could clarify that if PayPal or a similar payment system will be used, what you see will be the driving force to increase the value of each token for the investors? If the amount the developers will be charging for their apps is going to be constant in dollar value, then there shouldn't be any demand to increase the value of each token as the same value of money will just be converted to different amounts of the token (100 tokens now, but 10 tokens a year from now when the price is 10 times higher). Would appreciate any clarification. Thank you"

Answer(s):

One of the things we have been working on is a Quant Treasury function for Quant Network which will encompass alot more detail for the pricing around our solutions so not just for the developers via the app store but also about what we offer to enterprise clients. In this we will go into a bit more detail and I think it will be a lot clearer then. I'm sure you cna appreciate it's not a simple task and we have to test it out with devs and enterprise and make sure it works for all parties because you have to remember we ourselves are not only building Overledger but our own MApps too so it applies directly to us too.

Question(s):

"A member of the community found that Alchemmy consulting will be helping clients utilise Overledger, what is your business relationship with Alchemmy? What is Alchemmy's connection to the Govt (the website is .gov)? Has this seen any traction?"

Answer(s):

Luke
"A member of the community found that Alchemmy consulting will be helping clients utilise Overledger, what is your business relationship with Alchemmy? What is Alchemmy's connection to the Govt (the website is .gov)? Has this seen any traction?"
One thing I want to emphasize on the QNT Token function and utility - we expect it to be multi-purpose.

Question(s):

Any news in regards to when the Developers Portal and Investors Relations channel be open?

Answer(s):

The Developer Portal which we have named it Developer Hub will go live just following the SDK is released. We will do a bit of a launch around that and have JP and the team do a demo etc.

Question(s):

Is the SDk release still planned for end this month? I remember I think it was last week that it could have a smell delay? A lot can happen in a week

Answer(s):

Cryptorob
Is the SDk release still planned for end this month? I remember I think it was last week that it could have a smell delay? A lot can happen in a week
No we are still on track for the end of the month.

Question(s):

"A member of the community found that Alchemmy consulting will be helping clients utilise Overledger, what is your business relationship with Alchemmy? What is Alchemmy's connection to the Govt (the website is .gov)? Has this seen any traction?"

Answer(s):

Alchemmy site is a .com. THey consult with clients across private and public sector. They are predominantly private sector focused actually - so not sure what you're refering to?

@JoleenRAF Alchemmy they are a conulstancy partner who we we work with on client engagements. (Not too disimiliar to say how Accenture work with IBM as an example)

Question(s):

(No Question was found)

Answer(s):

Yeah the website was slightly delayed - I expect it live by the end of this week!

Question(s):

"Are there any benefits to switching the QNT token onto its own chain? Or do the use of resources not justify any reason to leave the current ERC-20 token structure?"

Answer(s):

Luke
"Are there any benefits to switching the QNT token onto its own chain? Or do the use of resources not justify any reason to leave the current ERC-20 token structure?"
We're agnostic, the token could in theory have been on any blockchain. but we picked ethereum and ERC20 as it has the most usage

We are however building our own blockchain to meet a gap that Enterprises have. Something to compete with Hyperledger

Gilbert Verdian
We are however building our own blockchain to meet a gap that Enterprises have. Something to compete with Hyperledger
It's a project in our Quant Labs, which we feel will help the industry as it meets enterprise requirements better than what is currently available.

Gilbert Verdian
It's a project in our Quant Labs, which we feel will help the industry as it meets enterprise requirements better than what is currently available.
We'll connect it to Overledger to have interoperabiltiy like any other blockchain

Sorry all to clarify. We saw a gap in blockchain tech for enterprise, we explored what it would take to build one to solve it. Whatever the outcome, it will connect to Overledger like all the other Blockchains. We’re not looking to force people the use if it just to use Overledger

Question(s):

Answer(s):

AA
Are we expecting 6months or 4-5 years?
The new blockchain has actually been built. It’s not production ready yet. Aiming for 1st half of next year.

Question(s):

Gilbert Verdian
The new blockchain has actually been built. It’s not production ready yet. Aiming for 1st half of next year.
Is it based on Red Belly Blockchain?

Answer(s):

Ghost of St. Miklos
Is it based on Red Belly Blockchain?
No, we’ve been playing with RB too. The inspiration was from the original source - bitcoin paper. Plus adopting it for enterprise needs. It’s focused on more data space and it’s to give people another option other than hyperledger.

Question(s):

Gilbert Verdian
The new blockchain has actually been built. It’s not production ready yet. Aiming for 1st half of next year.
Last question: will this be based on the QNT tokens? or separate token

Answer(s):

ScyTher
No tokens but connection using QNT
We’re not looking to have mining, working out the best consensus and approach. Using it is through Overledger so no new tokens

Lot to work out, still experimental and in Quant labs. Focus is Overledger this year

Question(s):

Will the new blockchain have a seperate currency then? and QNT remain erc20?

Answer(s):

Jon Strummer
Will the new blockchain have a seperate currency then? and QNT remain erc20?
No, it'll be like hyperledger with it's own unique consensus - no need for coin/token/mining.

Question(s):

Gilbert Verdian
No, it'll be like hyperledger with it's own unique consensus - no need for coin/token/mining.
but can only be accessed via Overledger, which will make QNT needed for that chain ?

Answer(s):

The Eye of QNT -NEVER PM FOR FUNDS-
but can only be accessed via Overledger, which will make QNT needed for that chain ?
yes excactly only through Overledger

Question(s):

(No Question was found)

Answer(s):

Correct. Any UK Government department or agency can now use Overledger

Question(s):

(No Question was found)

Answer(s):

Overledger is laying the foundations of building the Internet of Trust. It's a few years away but we are on the roadmap

Question(s):

Gilbert Verdian
We’re not looking to have mining, working out the best consensus and approach. Using it is through Overledger so no new tokens
There's a new schema of consensus that's very scalable and <51% attack resistant without traditional mining emerging, have you heard of hash opinion dynamics?

Answer(s):

Ghost of St. Miklos
There's a new schema of consensus that's very scalable and <51% attack resistant without traditional mining emerging, have you heard of hash opinion dynamics?
Very cool will look into this !

Question(s):

Gilbert Verdian
Very cool will look into this !
I can PM you details if you wish, just let me gno.

Answer(s):

Ghost of St. Miklos
I can PM you details if you wish, just let me gno.
That would be great, thank you

Question(s):

(No Question was found)

Answer(s):

That is also on track. Getting Etherscan total supply infomation updated might take longer (as that's up to them to update) but token burn is on track for Friday.

Question(s):

"Will there be any news regarding fortune 500 companies, is there a timeline for partnership announcements, or not really a point of concern for the time being?"

Answer(s):

Luke
"Will there be any news regarding fortune 500 companies, is there a timeline for partnership announcements, or not really a point of concern for the time being?"
We will announce everything we can with our clients and partners. These things take time and it is also all about the timing for both parties.

Question(s):

I know exchanges are a bit of a recycled topic in here - but I have had the majority of questions asked about possible listings. "You mentioned the listings will occur when the market demand rises. With the increase in IDEX volume will a fresh look at exchanges be taken into consideration? Or will the listings be held off until the SDK release and actual token utility?"

Answer(s):

Luke
I know exchanges are a bit of a recycled topic in here - but I have had the majority of questions asked about possible listings. "You mentioned the listings will occur when the market demand rises. With the increase in IDEX volume will a fresh look at exchanges be taken into consideration? Or will the listings be held off until the SDK release and actual token utility?"
Thanks Luke. We've said it in the past, we will consider looking at this when the market and demand is correct. Everything has to be done in compliance to regulation. We take this very seriously.

Question(s):

Does Theresa May understand Blockchain? Didnt she say bitcoin was for criminals

Answer(s):

Jon Strummer
Does Theresa May understand Blockchain? Didnt she say bitcoin was for criminals
In the UK Parliament committees I sit in, I can ask the PM if you really want to know

Question(s):

Mr. Verdian, some people claim about the „empty“ github/code. Can you explain whats up with this?

Answer(s):

pierin
Mr. Verdian, some people claim about the „empty“ github/code. Can you explain whats up with this?
Our current github is a small fraction of what we've done. We have our own private source code repository for our development. Once the next release is ready, we'll upload from the internal to the external public github.

Question(s):

how did the meeting went with the big financial president previeus week ?

Answer(s):

Serieus Profits
how did the meeting went with the big financial president previeus week ?
Went very well. Can't say too much on it yet.

Question(s):

Gilbert Verdian
Went very well. Can't say too much on it yet.
Hi Gilbert - I remember long back you were in India trying to get a deal with A.P State government. Is that still work in progress or moved over it ??

Answer(s):

Uday Reddy
Hi Gilbert - I remember long back you were in India trying to get a deal with A.P State government. Is that still work in progress or moved over it ??
Yep that's work in progress for us. We've got a good pipeline

Question(s):

You have a partnership with the Jiangsu Huaxin Blockchain Research Insitute in China - how is that partnership coming along and are there any other plans to move into the Asian markets?

Answer(s):

dpol lopd
You have a partnership with the Jiangsu Huaxin Blockchain Research Insitute in China - how is that partnership coming along and are there any other plans to move into the Asian markets?
We're market driven. Really have to balance our coporate strategy to meet customer's demand but not put too much strain on the company.

Question(s):

"Has the demand been more UK/Europe focused or equally globally?"

Answer(s):

Luke
"Has the demand been more UK/Europe focused or equally globally?"
We have client engagements developing in UK/EU/US and Australia.

Question(s):

(No Question was found)

Answer(s):

Treasury function details will be out closer to the MApp store release date.

Question(s):

(No Question was found)

Answer(s):

No, only that we operate strictly under FINMA compliance and regulation. We won't deviate from this no matter what.

Question(s):

One question regarding patents: Have you considered to have your patents for the overledger being approved first, before uploading any code to the public git hub?

Answer(s):

synthwave_man
One question regarding patents: Have you considered to have your patents for the overledger being approved first, before uploading any code to the public git hub?
Under patent law, the first filing date is the most important. Once it's filed you can then go out talk about it, release code, etc without jeorpardising the patent.

Question(s):

You said that you could have communications with Theresa May? Is this line of communication realistic or reasonable?

Answer(s):

Luke
You said that you could have communications with Theresa May? Is this line of communication realistic or reasonable?
I have worked in Downing St, HM Treasury, Cabinet Office and Ministry of Justice.

Question(s):

ahaha, of course, but is she really open to discussions like this?

Answer(s):

Luke
ahaha, of course, but is she really open to discussions like this?
Not how Government works. Things are decided and discussed in Committees which recommend policy changes to ministers. I'm in Parliament's DLT for Public Good Commitee and now Chair of the DLT for Healthcare Committee. We would help make recommendations to Government.

Question(s):

(No Question was found)

Answer(s):

Could be anytime really. But we're aiming for by the end of the year. This is how corporations work. Things take time.

Question(s):

@gverdian just to let you know that the admins are doing a great job!! big up for the admins

Answer(s):

Cryptorob
@gverdian just to let you know that the admins are doing a great job!! big up for the admins
Yes a BIG THANK YOU to our community admins! Keeping this channel professional and clean. Especially after 4chan influx 🙂

Question(s):

Do you think any of these governance blockchain projects will ever take off seeing as we are talking about governments?

Answer(s):

Jon Strummer
Do you think any of these governance blockchain projects will ever take off seeing as we are talking about governments?
Yes, already happening. A lot of Governments are implementing blockchain or making policy to adopt blockchain. I see that from EU Blockchain Observatory and UK Parliament work I'm involved in. Last week the Aus Government announced they are creating a National Blockchain Network for Smart Contracts for the whole country.

Question(s):

(No Question was found)

Answer(s):

We will push comms out in our usual Medium post/social media etc. Some of it may be in the mainstream media that we've already been in since last year

Question(s):

How do you guys plan on scaling to meet the demand? Surely a larger team will be needed to help nurse the incoming rise in enterpise demand and interest?

Answer(s):

We have our partners Alchemmy to help with client engagements. But we are also in talks with global system integrators like DXC, Cognizant, etc to take our technology to their customers

Question(s):

Team size comparison: Aion: 75 developers Icon : 67 developers Wanchain: 25 developers Cosmos: 33 developers Polkadot: 8 developers Blocknet: 7 developers Quant Overledger: 5 developers

Answer(s):

Krakenified
Team size comparison: Aion: 75 developers Icon : 67 developers Wanchain: 25 developers Cosmos: 33 developers Polkadot: 8 developers Blocknet: 7 developers Quant Overledger: 5 developers
We actually don't need that many developers. We have the optimal team with the right skills. Capability and Experience much more important than numbers

Question(s):

Gilbert we are such a strong community and have been spending hours every day supporting and promoting this project and helping grow the family 🙂 all looking forward to hearing more and more from you and the team. All the best.

Answer(s):

Thank you Armin! We’re so honoured to have you all part of the community. You all make us so proud !

I think bitcoin and digital assets are an innovative asset that is maturing and getting new uses and wider adoption. It still has a long way to go, more regulation for acceptance and supervision is needed for true mass adoption

Question(s):

Loucineh referred to QNT token function and utility being envisaged as multi purpose. Can you offer any colour as to what she meant?

Answer(s):

Kevin Beaman
Loucineh referred to QNT token function and utility being envisaged as multi purpose. Can you offer any colour as to what she meant?
We have bigger plans around identity and the basis for the internet of trust.

Question(s):

Sorry I'm going to repeat my question just in case he did not see mine: "Gilbert we all supported your decision of utility first before exchanges. But we want to hear if you would pursue exchanges after SDK is released this month or SDK is not the utility you have in mind."

Answer(s):

AA
Sorry I'm going to repeat my question just in case he did not see mine: "Gilbert we all supported your decision of utility first before exchanges. But we want to hear if you would pursue exchanges after SDK is released this month or SDK is not the utility you have in mind."
We can reveal the plans but can say it will be in line with regulatory compliance.

Question(s):

Gilbert Verdian
We can reveal the plans but can say it will be in line with regulatory compliance.
I can tell you that a lot of us in this group or the other want to hear more clarification about this. Could you please for once clarify if you are planning to reach a certain milestone before listing one xchanges? Would SDK be the point after which you will get listed? Or blockchain release? Sorry for long question but many people across telegram, twitter, and reddit are asking this question!

Answer(s):

AA
I can tell you that a lot of us in this group or the other want to hear more clarification about this. Could you please for once clarify if you are planning to reach a certain milestone before listing one xchanges? Would SDK be the point after which you will get listed? Or blockchain release? Sorry for long question but many people across telegram, twitter, and reddit are asking this question!
I understand the question. But can’t comment further at this time. We’re following FINMA regulation and doing it to the letter. We will of course comment further when we can.

Question(s):

Hello I've looked into this project and I was still wondering why you felt the need to inflate your telegram member numbers.

Answer(s):

Max Weber
I'm just kidding.
I remember we were so excited to have 200 people in the telegram!

Question(s):

(No Question was found)

Answer(s):

You know, when I was CTO of Treasury In 2009 I introduced the UK Government to bitcoin. We did a policy review on it and the outcome was that it will never have any material impact to the UK’s economy. I should have bought some back then at 1BTC=0.0005USD! 🙂

Question(s):

Yea, guys - think for yourself whether a project of this scale will be on exchanges, and then you have an answer. And indeed, what calibre of exchanges. The team can't be seen to refer to future events unless they are strictly utility-related. Of course they can promote their SDK and new website, no problem with that - it's all to do with QNT utility. An exchange, however, is a grey area - of course exchanges are required to circulate the token and put some life into the "ecosystem", but it's not strictly a "utility" point and so for Gilbert to shill "exchange soon, guys!" would be to promote a non-utility aspect of QNT's future.

Answer(s):

John Smith
Yea, guys - think for yourself whether a project of this scale will be on exchanges, and then you have an answer. And indeed, what calibre of exchanges. The team can't be seen to refer to future events unless they are strictly utility-related. Of course they can promote their SDK and new website, no problem with that - it's all to do with QNT utility. An exchange, however, is a grey area - of course exchanges are required to circulate the token and put some life into the "ecosystem", but it's not strictly a "utility" point and so for Gilbert to shill "exchange soon, guys!" would be to promote a non-utility aspect of QNT's future.
Thank you. Well said

AMA DISCLAIMER

This AMA were manually compiled, highlighted, and summarised for making the information easily available.

All highlight summary points are linked to the corresponding messages in the AMA compilation and all messages in the AMA compilation are linked back to their corresponding message in Telegram. To see all available information, you may want to visit Telegram directly. Keep in mind that any message on Telegram may have been edited or deleted over time, though it is probably rare. There's a possibility that you may therefore not find its' unedited version (although you would see if it has been edited or not) or you may not find a message at all

The authors have done their best to provide all relevant information as complete and accurate as possible, but like any manual task, human error can happen and how an AMA is compiled, highlighted, and summarised is open to the author's interpretation. For example, If a specific question isn’t mentioned in an answer, the author may have assumed a question to be related, based on the context. QNTunofficial makes no claim that all information on this page is complete or correct.

In the AMA compilation you may sometimes find the message "No Question was found" in place of a question. This could mean one of two things: 1) the author did not know which question the answer was referring to or 2) the message was deleted on Telegram prior to compiling this AMA.

The QNTunofficial site disclaimer is located here.

feedback_mix.png
Share This