QUANT NETWORK AMA: 31 JAN 2019

QUANT NETWORK

AMA

ASK ME ANYTHING

31‑JAN‑2019

TELEGRAM ‑ 3 MIN READ

HIGHLIGHTS SUMMARY

This Quant Token Utility Paper V0.1 was released in the afternoon of 31 Jan. Later in the evening, Gilbert joined the Official Telegram Chat for this AMA.

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):

We’ve been following your comments and messages today

Wanted to provide some clarity. We are talking about the ‘utility of token’ and have moved away from making reference to ‘tokenomics’ or ‘token economics’. For several reasons, firstly we are “not a security token” and secondly economics is the study of human behaviour and economic predictions are based on previous behaviour. This area is so new, that there are no previous real-world working models. We can’t be expected to know or predict the demand for the platform. Any type of analysis or modelling on future demand of the token beyond the basics would just be guess work at this stage. Ultimately the demand of the token is tied to the demand and value for the platform. We believe we have come up with a way to foster growth in our ecosystem and tie it to real world usage. Our priority it continue to develop Overledger and ensure that the value of the platform is reflected in our pricing so that there is good uptake of the platform which then reflects the demand for the token. We are basing our thinking on real world usage rather than theoretical economics analysis. Our team are continuously working hard on all aspects and we’d love your help in jointly expanding this exciting new pioneering area.

The paper and thinking wasn’t “rushed” we’ve been spending months with a whole team dedicated to get this right for enterprise, developers, users and token holders. Apologies if a couple of grammatical errors were missed, we can easily sort those out.

It’s the beginning of our approach and like any economy or economic model it will be subject to change with tools to help adjust the model as it is used in practice. We just can’t predict will happen and how people, supply/demand will behave.

Question(s):

Hi Gilbert, one question that has been on people’s lips today: as users need to « renew » their licence, what happens to the tokens they bought in the first place? Thanks for taking the time.

Answer(s):

When you buy a license the tokens are taken out of circulation. We have an approach to lock them into a smart contract until the license expires, then it needs to be renewed. The other approach is to take them out of circulation and move them into the Treasury. Licenses then can be renewed each year.

Question(s):

So essentially the same initial tokens would be locked up for 10 years if a client renewed 10 years in a row?

Answer(s):

Jon Strummer
So essentially the same initial tokens would be locked up for 10 years if a client renewed 10 years in a row?
You know, it’s possible if everything stays linear. But in reality things will fluctuate and adjust to supply and demand. Think about the £10 you spend in your bank account. Is it exactly the same £10 that moves in the financial system or 1000 pennies that each one is from a different source. I have to stay I worked at HM Treasury and know the exact system and process that injects money supply into the economy. The way the economy runs is really so simple when you look into the intricate details of its operation.

Question(s):

Thank you for taking the time again, Gilbert. I look forward to what's to come 🙂

Answer(s):

Thank you. So are we. We’re excited that we’ve built an economy around Overledger with different stakeholders and a model that can help support it. This is really ground-breaking pioneering stuff that we can claim we’re one of the first in the world to have solved with real world usage, real working technology and real customers, developers and enterprise. It’s exciting

Question(s):

Gilbert Verdian
Thank you. So are we. We’re excited that we’ve built an economy around Overledger with different stakeholders and a model that can help support it. This is really ground-breaking pioneering stuff that we can claim we’re one of the first in the world to have solved with real world usage, real working technology and real customers, developers and enterprise. It’s exciting
Agree, happy to see Overledger evolve like this. Excited for the future.

Answer(s):

Grills R
Agree, happy to see Overledger evolve like this. Excited for the future.
Thank you. This is an evolving technology, marketplace and ecosystem. We’re excited to see where it goes with the help of our community, clients and users.

Question(s):

Answer(s):

Alkan
These fatbtc price spikes always confuse me
Yeah we’re not happy with it either. Unfortunate it’s out of our control.

Question(s):

Appreciate the comments Gilbert - if you have time, can you give us a hint about the developer portal showing 115 devs, 15 mApps, and roughly 1.6m QNT tokens already in use? We’re very interested in this!

Answer(s):

We actually have 84 organisations registered in our developer portal. Some organisations are working on behalf of their customers to create mApps

Question(s):

I wonder if those developers are from any large enterprises 🧐😁

Answer(s):

[removed]
I wonder if those developers are from any large enterprises 🧐😁
We know that about 10 are from VERY large organisations

Question(s):

Oh, did we ask about the 1.6m tokens in the dev portal?

Answer(s):

[removed]
Oh, did we ask about the 1.6m tokens in the dev portal?
That is the number of tokens our developers hold in their wallets.

Answer(s):

[removed]
Quite a lot of tokens 🙂
It’s just a glimpse of the utility model when the Treasury comes online.

Question(s):

Gilbert Verdian
That is the number of tokens our developers hold in their wallets.
Awesome, thank you. Oh, and we’re assuming “users” referenced in the token paper refers to anyone holding quant?

[removed]
Awesome, thank you. Oh, and we’re assuming “users” referenced in the token paper refers to anyone holding quant?
@gverdian also curious about this

Answer(s):

Sam
@gverdian also curious about this
Yes, users are mApp users

Question(s):

Gilbert Verdian
Thank you. So are we. We’re excited that we’ve built an economy around Overledger with different stakeholders and a model that can help support it. This is really ground-breaking pioneering stuff that we can claim we’re one of the first in the world to have solved with real world usage, real working technology and real customers, developers and enterprise. It’s exciting
Thanks for taking the time to clarify a few points. I suppose part of the nervousness is the fact that the token model is new territory and there is a lot of unknowns. Sorry to pick up on the grammar points but they were the first things I noticed and immediately jumped out as un-quant like as everything up to now has been on point.

Answer(s):

Gabriel
Thank you for taking the time to address concerns.
No trouble, happy to help clarify.

It will take some time to understand the workings of this model and we’re here to help support and clarify anytime

Question(s):

Are all the developed Mapps accessible to any enterprise that pay for the license, or can they be "private" as well?

Answer(s):

Luca
Are all the developed Mapps accessible to any enterprise that pay for the license, or can they be "private" as well?
Well if the application is an internal application, it will only be available to the employees of that company. Kind of like internal iOS in an enterprises internal App Store. Only their staff can access it, it’s not published in the public Apple App Store. Regardless where it’s visible, the enterprise needs a license and needs to pay for the volume/usage

Question(s):

it is almost night and you still take the trouble to inform the community?!😶 Love it.

Answer(s):

Lucas??
it is almost night and you still take the trouble to inform the community?!😶 Love it.
Actually just arrived in Brussels. Have a big meeting with the European Commission in the morning. We’re involved in a very exciting venture for the EU. We will be announcing more on the 6th of March with lots of media attention

Question(s):

Will the announcement on the 6th of march be big/significant in comparison to what other companies in the blockchain / crypto space has accomplished?

Answer(s):

BOMBASA
Will the announcement on the 6th of march be big/significant in comparison to what other companies in the blockchain / crypto space has accomplished?
It’s Europe-wide. It’s at the same level as global banks in this space. Sorry can’t comment more until then

BOMBASA
Will the announcement on the 6th of march be big/significant in comparison to what other companies in the blockchain / crypto space has accomplished?
Plus I think we’ve accomplished a LOT in the last year! Don’t know many corporates that can achieve what we’ve done in such a small period of time. And I’ve been in corporates and Government for 20 years.

Question(s):

Will Quant Network have a central/significant part in the announcement 6th of march

Answer(s):

BOMBASA
Will Quant Network have a central/significant part in the announcement 6th of march
Yes

Question(s):

Is the time leading up to 6th of march also filled with pleasant surprises?

Answer(s):

BOMBASA
Is the time leading up to 6th of march also filled with pleasant surprises?
Yep, we have many more surprises and updates coming up

Question(s):

Gilbert Verdian
Actually just arrived in Brussels. Have a big meeting with the European Commission in the morning. We’re involved in a very exciting venture for the EU. We will be announcing more on the 6th of March with lots of media attention
how do you plan to ramp up marketing efforts as previously mentioned?

Answer(s):

In it for the tech
how do you plan to ramp up marketing efforts as previously mentioned?
This is a priority. It’s time we let the world know the amazing stuff we’re developing. We’re hiring more people and engaging content writers and digital agencies to help us achieve this. Plus we’re expanding to New York. We’re working on it now

Question(s):

Would be nice to advertise the benefits to developers of creating Mapps vs Dapps - ongoing I know 🙂

Answer(s):

David Wattebled
Would be nice to advertise the benefits to developers of creating Mapps vs Dapps - ongoing I know 🙂
Agree!

Question(s):

Gilbert, do you ever expect Overledger to be used by retail users too?

Answer(s):

David Wattebled
Gilbert, do you ever expect Overledger to be used by retail users too?
Yes of course. We can’t wait to see someone create amazing multi-chain applications that are distributed across different blockchains. Like the next WhatsApp?

Question(s):

Morning from Australia @gverdian, what are your thoughts of community feedback on the token utility v.1.0 so far, and what takeaways from the feedback can we expect to impact on the evolution of future documentation releases?

Answer(s):

Hi Rez
Morning from Australia @gverdian, what are your thoughts of community feedback on the token utility v.1.0 so far, and what takeaways from the feedback can we expect to impact on the evolution of future documentation releases?
Morning! What feedback we’ve had in the last 7 hours? Don’t know, we’re listening and taking it onboard. We’ll work with our community to evolve the model especially when it’s live and we see how it works with real world usage

Also pricing is something that is coming up as the model evolves

We will have published pricing for the community usage and enterprise pricing will remain only visible to the client. We’re engaging a pricing strategy firm to do the modelling for us to get it right

Question(s):

Was the $10/month used in the model as examples arbitrary numbers, or were they strategically placed in the document?

Answer(s):

Hi Rez
Was the $10/month used in the model as examples arbitrary numbers, or were they strategically placed in the document?
An example

Question(s):

Thanks for all your answers, @gverdian . I think the biggest confusion for many was based on the fact that unlike most economies, the product is not consumed forever when bought, and there will never be any additional supply.

after wrapping my head around it for hours today, your model actually makes perfect sense for such a fixed supply economy

Answer(s):

Bokeb
Thanks for all your answers, @gverdian . I think the biggest confusion for many was based on the fact that unlike most economies, the product is not consumed forever when bought, and there will never be any additional supply.
Yes it’s a circular ecosystem. Kind of like the monetary supply the Bank of England is responsible for

Question(s):

Information / Announcement

Answer(s):

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