QUANT NETWORK AMA: 25 FEB 2019

QUANT NETWORK

AMA

ASK ME ANYTHING

25‑FEB‑2019

TELEGRAM ‑ 5 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):

Information / Announcement

Answer(s):

Before we start wanted to congratulate @sonicblend who's been promoted to a community admin. We really value his technical expertise and support!

Question(s):

Information / Announcement

Answer(s):

Also we've hired our Head of Marketing and Communications. We're in the process of onboarding. She's got a wealth of corporate experience in taking brands and building them up to household names. Companies like Rightmove. Will make an announcement shortly when we've done the paperwork.

Question(s):

Answer(s):

Will do as soon as we've finished the paperwork and she's started with us. She has worked at other places too since rightmove, but rightmove was a good example of her work taking it from a small startup to a household name

Question(s):

Lets start with our first question :), What has the team been up to the last two weeks?

Answer(s):

The team have been working flat out on client work, we're progressing a very large client to potentially use GoVerify covering all of the UK. We've done a lot of updates to Overledger's backend and devops and deploying on Oracle Cloud.

Question(s):

Q1: After reading your Business paper, I noticed that the release of the team/staff/advsior token allocation is on the horizon. Is there a plan in place on how they will be released, will they be strategically allocated? Further more, what are the immediate uses of team reserve funds - regarding building out the ecosystem etc. ?

Answer(s):

Yes team/staff/advisor tokens are locked until 30th April. The company reserve has been unlocked since the TGE for listings, exchanges, liquidity etc in line with the business paper. The team's funds are part of their package as staff and awarded to them based on performance and incentives

Question(s):

Welcome Gilbert - thanks for your time again. Have you been surprised by any proposed use cases or Mapps being developed that utilise Quant in innovative ways you hadn't anticipated?

Answer(s):

We're seeing some exciting ways mApps are being built but the community and from enterprise. We have one company who's planning to build mApps to power banking gateways across many banks. That's quite exciting to work on and we can do a joint announcement in Q1 as we've discussed.

Question(s):

JPM Coin is JP Morgans new cryptocurrency which claims that "JPM Coin will be operable on all standard Blockchain networks." Seeing as Quant has done tests with Quorum (the chain that JPM Coin is created on), did Quant make this interoperability happen for JPM Coin or are these separate events?

Answer(s):

Good question and lots of buzz around JPM. As we all know, we have connected JPM Quorum to Overledger and first asked for their OK. This is to enable interoperability with different blockchains with Quorum and vice versa. The JPM Coin is a different thing but there's no stopping them utilising Overledger.

Question(s):

In regards to Quant's exclusive partnership with China’s blockchain research hub for China Ministry of Commerce, regarding the fact JBI have signed a MoU for a five-year cooperation, what has been achieved with them in past year? Many discussions? Are you expanding further into the Asian market?

Answer(s):

JBI is an ongoing engagement and we're working ith UCL on it jointly. We're testing the market for Asia and see where things go but first focus is the US as mentioned

Question(s):

How is the progress going of the US office that you are opening with Big enterprises which you spoke about in the Blockchain Brad interview. Any Idea when you can announce more about that?

Answer(s):

We have 2 large Asset Management companies in the US that we are in active talks with. They love the technology and are looking at use cases and how best to progress. We have further meetings this week with them and need to be the US again in the next month.

Question(s):

How well would Quant fit for providing the basis of a switchboard for national blockchains for the EU? Have you been approached/discussed this with the EU Blockchain Observatory Forum?

Answer(s):

I am personally part of the EU Blockchain Observatory and been to meetings in Brussels for it and other projects. I've helped with the EU Blockchain Strategy leveraging my experience and time in Government to deliver goverment services to citizens. There's more on this on the 6th March announcement coming out

Question(s):

How many other companies are being accepted in the Oracle Startup program? And do we see a public announcement from their side in the future?

Answer(s):

Not that many are accepted. It's quite a process to go through - they only select scalable businesses with innovative technology that can deliver to their 430,000+ customers. We're working on jointly amplifying partnership and have a meeting with Oracle this friday in their London office. There's more coming out on this from both organisations

Question(s):

How will Brexit impact Quant Network if it is approved? How is Quant prepared for Brexit? Thank you!

Answer(s):

Actually not that impacted as our technology is global. We've made some corporate changes to prevent any potential impact, but we don't foresee any at the moment.

Question(s):

What is Quant's progress on Stellar integration? With IBM World Wire being released and built on Stellar, and with an IBMer mentioning it will connect to Maersk, there may soon be a large network utilizing Stellar, as well for CBDCs. So, may soon be an important one to integrate as exclusive announcement by IBM/Stellar in March

Answer(s):

Stellar is a fork of Ripple. As we already have Ripple connected to Overledger, it's not that difficult to add Stellar. We have it in our roadmap along with Corda and will release as scheduled.

Question(s):

With regards to your Client engagement partner - Alchemmy, are they doing a large portion of the heavy lifting in client engagements or are you seeing a lot of organic traction, with potential clients/leads coming to you?

Answer(s):

Yes, Alchemmy help with the engagement scoping, project management and client delivery and we provide the technology and expertise. We have a number of engagements in the pipeline with large corporates in the logistics space

Question(s):

With regards to your Client engagement partner - Alchemmy, are they doing a large portion of the heavy lifting in client engagements or are you seeing a lot of organic traction, with potential clients/leads coming to you?

Answer(s):

Yes, Alchemmy help with the engagement scoping, project management and client delivery and we provide the technology and expertise. We have a number of engagements in the pipeline with large corporates in the logistics space

Question(s):

How is the development of the mApp store is going? Has there been any UI designs drawn up, etc.

Answer(s):

The current marketplace is the first version of the mApp store. We'll evolve and update as we progress. The changes will be seen live in the current versions

Question(s):

Can you give us a deeper dive on Treaty contracts and what they look like, if they require learning a new programming language, how they operate on smartcontract-less chains etc. How are they progressing?

Answer(s):

You may not realise it but Enterprise and Developers already use the base version of treaty contracts to code in business logic in their mApps to execute across chains that don't have smart contracts. The next evolution is to remove some of logic out of individual mApps and for treaty contracts to do more of the execution in something like a JVM. We're working on this for this year.

Question(s):

: I understand the final details are being worked out for Treaty contracts, but are you able to confirm whether it's the goal to be able to run the smart contracts off chain? By utilising trusttag to create a hash of the smart contract and store the Hash value on any blockchain. Then when someone wants to run the smart contract (off chain) they check it hasn't been modified by running a hash against it and comparing it to the value stored on the blockchain. Allowing you to use smart contract functionality for any blockchain (as well as the ability to code it in a number of different popular languages - Javascript, Java, Python etc) When combined with your microservices approach it will provide near endless amounts of scalability as you can just keep spooling up more cloud resource to meet the demand. (And all the cloud providers have quite a lot of cloud resource to go at 😁)

Answer(s):

Yes Treaty Contracts (multi-chain smart contracts) will be run off-chain inside Overledger

Question(s):

There was mention of a 'least cost routing' approach. Could you give us a brief description/update on this capability and how it will be implemented? Could we expect this as a rollout service?

Answer(s):

This is a new middleware brokering service on top of Overledger which will allow for Enterprise and Developers to chose the cheapest/fastest/ chains to utilise for their mApps

Question(s):

As Overledger is able to Offer Oracle services without the overhead of adding another blockchain by utilising Trusttag to ensure the data hasn't been modified (as is the case compared with other interoperability platforms). Have you any plans to offer a service where you could use a separate kubernetes cluster to create consensus when receiving data from multiple points (such as say the temporarture from multiple sensors and aggregating them together to remove any anonomlies before interacting with a smart contract)

Answer(s):

We can already do that but checking the integrity in intact by using our TrustTag technology. There can be additional features to check the integrity of smart contracts and that's something we're exploring with Data61 but the data quality is up to the enterprise to clean

Question(s):

What happens behind the scenes in the Quant Labs, is the building of Quant's own Blockchain a priority (with client demand etc), or more of a future potential gap filler? Do external Enterprises have access to the labs, or is it purely an in-house service?

Answer(s):

Labs is in house where we try out ideas and determine if they aer ready for the market or to be a product/service. We have the prototype for our own blockchain, it's to help solve the storage issue with current blockchains helping Enterprise with that challenge. It's something that we'll release as soon as an Enterprise customer needs it. There is no extra consensus, token etc. It's another blockchain that people can use to store larger amounts of data through Overledger.

Question(s):

Have you / ISO TC 307 groups had any involvement with the ETSI (European Telecommunications Standards Institute) with their "Industry Speification Group on Permissioned Distributed Ledger"?

Answer(s):

ETSI as I understand are a liaison organisation to TC307 which means they can share work that both are working on.

Question(s):

If we are not mistaken, the current version of Overledger is in Testnet/Alpha. How far off is the first full release?

Answer(s):

We are already in full release for our Enterprise version of Overledger for permissioned blockchains. The current open source version will be connected to permissionless blockchains by the summer

Question(s):

Clearmatics has been a player in the interoperability space for quite a while, and has connections to major banks in the space as well. Their ION framework seems to have several elements in common with Overledger. Q. How do you evaluate Clearmatics solution with the ION framework and do you see possible collaboration possible in the future?

Answer(s):

We like what Clearmatics are doing. ION is a JVM for smart contacts on chains. We're not doing the same thing as we're providing the interoperable infrastructure to connect chains. There could be an opportunity to have ION as a middleware service for clients. Something like Amazon's marketplace where you can use different technologies on the base platform.

Question(s):

Is there room or capability within Overledger to identify/prevent Mapp users from harmful potential 51% attacks.

Answer(s):

Yes we protect users and applications from these types of attacks if they use Overledger. There would be another cost in terms of QNT transactions and volume the attackers have to pay for to be successful which is a deterrent and shields our users and developers

Question(s):

What are the biggest risks to achieving the extended vision of the Quant ecosystem?

Answer(s):

I think we're on track. We have a lot of activity, registered users, developers and mApps that are being developed by the community. We also have a lot of Enterprise use. For us we've created the right mix for mass adoption, removing the barriers to blockchains, simplifying the adoption to get started. We just have to wait and see the results.

Question(s):

Some months back a company tried to accuire Quant, which you denied. Is this company since a client/partner ?

Answer(s):

Question(s):

Is there any news regarding the hackathon at the ADC global blockchain summit?

Answer(s):


DreadBongo
Is there any news regarding the hackathon at the ADC global blockchain summit?
We have a call tonight on that with Data61

aiming to send a team to the ADC Global Blockchain Summit for the participants to build their apps on Overledger.

Question(s):

would be nice to clarify will client announcements be this side of march 6th eu announcement or other side, or both? @gverdian

Answer(s):

We have an announcement on the 6th March. And the other ones by the end of March (Q1) as we previously stated.

Question(s):

Information / Announcement

Answer(s):

Wonderful AMA, thank you all for your time and thank you to our Admins for collating and coordinating the questions.

Personal thank you to @duncal @cryptosttwit @sonicblend

Question(s):

@gverdian Are we still expecting another cloud partner?

Answer(s):

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