QUANT NETWORK AMA: 28 AUG 2018

QUANT NETWORK

AMA

ASK ME ANYTHING

28‑AUG‑2018

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):

(No Question was found)

Answer(s):

Token Burn: As we have previously communicated, we were aiming for September to finalise the burn and we are on track. We expect the burn and the supply info on Etherscan to be fixed by September 14 at the latest.

Question(s):

(No Question was found)

Answer(s):

Tokenomics & Fee Structures: These are all great questions. Firstly, our general approach is that want the fee structure for Overledgr to flexible to give developer choice on how they want to charge for their MApps. All users and devs need to hold QNT tokesn to give them access to the platform and ecosystem and to run MApss. We have detailed a proposed approach in our business paper and will finalize the approach for the MApps store closer to its release. Regarding enterprise clients engagements - we will share some general infor around this for the broader community soon INCLUDING where and how they can access the tokens as we been considering a few different options for them. One thing to note, our fees structures and pricing essentially really depends on the client and their needs and the kind of engagement- rarely will it be the same across the board. In addition, we can’t share the details of those publicly i.e. You won’t find IBM publishing their fees for client engagements, as it’s not appropriate nor necessary.

Question(s):

(No Question was found)

Answer(s):

Re: Branding and Webstie - Yes we are indeed on track to unveil our new branding and I couldn't be more excited. We think it looks great and ZZ&D have done an amazing job. We wanted to hold off unveiling until the refreshed website was ready and I expect that by end of next week or maybe Monday Sept 10 at the latest. It will have a lot more content on our vertical, videos from our HQ -we even have a photo shoot with the whole team next Wednesday, so we all have fresh headshots of which I can share some behind the scenes pics 🙂

Question(s):

(No Question was found)

Answer(s):

Regarding Lloyds: The team have some following up meetings scheduled. Once we know more we will most definitely publicize.

Answer(s):

Re: Partnerships - we actually have just been accepted into the GLBC - Global Legal Blockchain Consortium's technical committee - we are signing the MOU and will share more details on that soon.

Question(s):

@Loucineh have you guys decided on how you update and simplify the roadmap? For example the SDK release in September could include connectors for BTC and ETH but then you could have a short term roadmap with new connections released every 2-3 weeks for example? That's a great way of keeping the comms engaged and clarity on what's to come in the short and medium term

Loucineh
Re: Partnerships - we actually have just been accepted into the GLBC - Global Legal Blockchain Consortium's technical committee - we are signing the MOU and will share more details on that soon.
When can we expect the release of the sdk?

Answer(s):

Re: SDK adn Overledger - we are ahead of schedule. We promised 2 connections to underlying blockchains earlier this year. Overledger will be out with 4 connections by the end of September.

Question(s):

Loucineh
Re: SDK adn Overledger - we are ahead of schedule. We promised 2 connections to underlying blockchains earlier this year. Overledger will be out with 4 connections by the end of September.
Wow and will developers be able to start building mapps right away?

Answer(s):

Bulle
Wow and will developers be able to start building mapps right away?
Yes. We have already started working on MApps for customers on Overledger. There are a whole bunch of infrastructure, middleware MApps we are working on in the background that will be released this year.

Gilbert Verdian
Yes. We have already started working on MApps for customers on Overledger. There are a whole bunch of infrastructure, middleware MApps we are working on in the background that will be released this year.
If you know our Cybersecurity background and experience we’re going to release new products on Overledger that cover multi chain identity-as-a-service, firewall, private devnet, and of course GoVerify

Question(s):

Afternoon Gilbert plz see my last post to Loucineh about a shorter and more focused roadmap to aid engagement etc

Answer(s):

ScyTher
Afternoon Gilbert plz see my last post to Loucineh about a shorter and more focused roadmap to aid engagement etc
Thanks Scyther, we are due to release an updated roadmap. To be honest the last 3 months we have been very focused on our September milestone and to exceed it!

Question(s):

Is Quant Labs related at all to the recent trip to Armenia?

Answer(s):

Ghost of St. Miklos
Is Quant Labs related at all to the recent trip to Armenia?
It will be related for the pure research purposes. Quant Labs is our safe place to run experiments, try new products ideas including our Cybersecurity products, middleware, etc and run private Blockchains locally to test things at scale

Answer(s):

Bulle
Would love a hashgraph connection
We have created Quant Labs this month and started experimenting with Redbelly blockchain - it can do 600,000 transactions per second! We’re always open to onboarding other Blockchains based on market need, or the community can connect it to Overledger

Question(s):

Gilbert Verdian
We have created Quant Labs this month and started experimenting with Redbelly blockchain - it can do 600,000 transactions per second! We’re always open to onboarding other Blockchains based on market need, or the community can connect it to Overledger
Wow thats amazing how close is it to mainnet?

Answer(s):

Bulle
Wow thats amazing how close is it to mainnet?
Probably get Redbelly connected later in the year or early next year.

Question(s):

How far do you think we are from a commercial implementation of redbelly with Quant?

Answer(s):

Timmy
How far do you think we are from a commercial implementation of redbelly with Quant?
Thinking 1st half of next year. Earlier the better !

Question(s):

Gilbert Verdian
Probably get Redbelly connected later in the year or early next year.
Can't believe I'm only hearing of this blockchain now hidden gem!

Answer(s):

Bulle
Can't believe I'm only hearing of this blockchain now hidden gem!
We’re quite advanced in our approach and looking at things ahead of the market

Question(s):

Gilbert Verdian
We’re quite advanced in our approach and looking at things ahead of the market
Wouldn't expect anything less. Out of interest are some serious Aussie companies and public bodies looking at red belly for use or is it still an academic endeavour

Answer(s):

ScyTher
Wouldn't expect anything less. Out of interest are some serious Aussie companies and public bodies looking at red belly for use or is it still an academic endeavour
Still academic. But we can bring it mainstream using Overledger

Question(s):

Gilbert Verdian
We have created Quant Labs this month and started experimenting with Redbelly blockchain - it can do 600,000 transactions per second! We’re always open to onboarding other Blockchains based on market need, or the community can connect it to Overledger
Yes hashgraph have a much bigger awareness and raised an eye watering amount of cash so can "bribe" people into their ecosystem. A connection to them would be a great cross-promotion avenue

Answer(s):

ScyTher
Yes hashgraph have a much bigger awareness and raised an eye watering amount of cash so can "bribe" people into their ecosystem. A connection to them would be a great cross-promotion avenue
Happy to explore Hashgraph. We like the tech

We have a priority list for Blockchains to connect, Happy to push it up on the list if that’s what the market wants. Think we had Corda and IOTA as the next two on the list

Question(s):

Gilbert Verdian
We have a priority list for Blockchains to connect, Happy to push it up on the list if that’s what the market wants. Think we had Corda and IOTA as the next two on the list
Iota doesn't really have any real world adoption yet from what I read as the code still has flaws

Answer(s):

ScyTher
Iota doesn't really have any real world adoption yet from what I read as the code still has flaws
Understood. We’re looking at IOT as we’re exploring the IOT space. The DHS wants us to connect US smart grids using Overledger.

Question(s):

Gilbert Verdian
Understood. We’re looking at IOT as we’re exploring the IOT space. The DHS wants us to connect US smart grids using Overledger.
Wow, Department of Homeland Security! Can you give us any more info on this? What stage of talks are ye at?

Answer(s):

dpol lopd
Wow, Department of Homeland Security! Can you give us any more info on this? What stage of talks are ye at?
Not any more than what’s been said. We have further meetings. We have a nice healthy client pipeline!

Question(s):

(No Question was found)

Answer(s):

Yes we’ve been quite clear on this. Every user who wants to use a MApp or a Developer or an Enterprise who wants to develop MApps needs to hold QNT tokens. Without QNT you can’t connect to Overledger and MApps won’t run. It’s the same as a license key people have to hold to access the ecosystem and run applications. Same as Apple with Apple ID - which is linked to keys on your Apple device to access the App Store and run iOS apps. Or Office365 and how they license their products.

Question(s):

(No Question was found)

Answer(s):

Yes that’s true. We’re making it as flexible as possible to let it be market driven. We’ll be closer to defining closer to the launch of the MApp Store

Question(s):

(No Question was found)

Answer(s):

As we’ve mentioned we’ve had quite a few approaches from exchanges. We’re reviewing the approach with our lawyers and regulator to ensure we are doing everything in compliance with our regulatory approval

Question(s):

(No Question was found)

Answer(s):

Yes every developer and user needs to hold QNT to use Overledger and MApps

Question(s):

Gilbert Verdian
Yes every developer and user needs to hold QNT to use Overledger and MApps
Where does the fiat gateway fit in here please? How do you envisage it would operate?

Answer(s):

Kevin Beaman
Where does the fiat gateway fit in here please? How do you envisage it would operate?
The gateway is for developers to charge fiat for their apps Like Apple

Question(s):

Gilbert Verdian
The gateway is for developers to charge fiat for their apps Like Apple
Does that mean, we could potentially see Quant Credit Vouchers being sold at various outlets like iTunes Cards?

Answer(s):

Timmy
Does that mean, we could potentially see Quant Credit Vouchers being sold at various outlets like iTunes Cards?
Nice idea! If others like Facebook, Apple, google do it why can’t we?

Question(s):

Gilbert Verdian
The gateway is for developers to charge fiat for their apps Like Apple
So as a user, I could pay in fiat. Would I also still need to buy and hold QNT tokens?

Answer(s):

Kevin Beaman
So as a user, I could pay in fiat. Would I also still need to buy and hold QNT tokens?
Yes users still need to hold QNT

Question(s):

Gilbert Verdian
Yes users still need to hold QNT
Thanks. Apologies if this has been covered already. Who will calculate the amount of QNT a user needs to hold?

Kevin Beaman
Thanks. Apologies if this has been covered already. Who will calculate the amount of QNT a user needs to hold?
Not worked out yet as they want an agile approach per customer from what I've read.

Answer(s):

ScyTher
Not worked out yet as they want an agile approach per customer from what I've read.
Exactly. We want the market supply/demand to determine this. We’re creating a Quant Treasury function which will help facilitate the approach

Question(s):

(No Question was found)

Answer(s):

Yes unless the developer wants to release a MApp for free. Users still need to hold QNT to run it

Question(s):

Gilbert Verdian
Yes unless the developer wants to release a MApp for free. Users still need to hold QNT to run it
So the developer will specify both the amount of fiat (if any) a user must pay and QNT tokens a user must hold. Have I got that right? Regarding tokens. How will a user prove ongoing holding of the requisite number of tokens?

Answer(s):

Kevin Beaman
So the developer will specify both the amount of fiat (if any) a user must pay and QNT tokens a user must hold. Have I got that right? Regarding tokens. How will a user prove ongoing holding of the requisite number of tokens?
Yes that’s the current thinking. It’s still work in progress and we’re focusing on this in conjunction with the MApp Store. We already have built the mechanism to check everyone’s wallet right now on the ethereum blockchain In real-time to see how much QNT they hold.

Question(s):

Gilbert Verdian
Yes that’s the current thinking. It’s still work in progress and we’re focusing on this in conjunction with the MApp Store. We already have built the mechanism to check everyone’s wallet right now on the ethereum blockchain In real-time to see how much QNT they hold.
Much appreciated. Understood that there are still things to figure out. One thing that strikes me is the impact of variable token price on required token holdings. I imagine you will have some ‘mark to market’ practice to revalue periodically.

Answer(s):

Kevin Beaman
Much appreciated. Understood that there are still things to figure out. One thing that strikes me is the impact of variable token price on required token holdings. I imagine you will have some ‘mark to market’ practice to revalue periodically.
Very true, we’re looking at the Treasury function to be able to help facilitate

Question(s):

With such a low circulating supply, isn’t the danger that it could be quite expensive for Devs to hold QNT tokens to run their Mapps?

Obviously a benefit for token holders but could be a hindrance for adoption, which is why for example the likes of VeChain did a coin split.

Answer(s):

QNT is divisible to 18 decimals. Good to point out VeChain. There’s lots of ways to tackle it

Answer(s):

Quant Smith
@gverdian When open source?
The sdk and connectors are all open source

Question(s):

Quant Smith
That’s awesome!
So can developers build their own connecters or will quant facilitate all the connections?

Answer(s):

Bulle
So can developers build their own connecters or will quant facilitate all the connections?
You can build your own. Our connectors will be open source. As long as it complies to the Overledger Standard anyone can create their own connectors to Blockchains we haven’t connected to yet

Question(s):

Yeah really couldn’t be more excited for of what you all are doing and proud to be with you all so early.

Answer(s):

Quant Smith
Yeah really couldn’t be more excited for of what you all are doing and proud to be with you all so early.
Thank you !

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