KardiaChain AMA review with Vite community on 09 May 2020
Krystal last edited by Krystal
On 09 May 2020, Vite welcome the special guests from KardiaChain, joining an AMA with the community at Telegram.
Tri Pham - CEO; Huy Nguyen - CTO; Son Nguyen - Head of Business Development: Astrid Dang - Head of Marketing & Partnerships
KardiaChain is the public blockchain platform focusing on interoperability and providing hybrid blockchain solutions/infrastructure for enterprise and government, not only in Vietnam but also in other countries in Southeast Asia.
They are working with major service providers (enterprises and government) to decentralize their existing solutions. KardiaChain's goal is to reach millions of users without the immense cost of educating the market. Their Dual Node technology allows cross-chain communications between any public and/or private blockchain regardless of protocol, which provides easy-to-adopt solutions for institutional clients.
KardiaChain has successfully completed IEO on Gate.io with a total of $19m oversubscription. Based out of Vietnam — KardiaChain boasts a lineup of top Enterprise and Blockchain partners, which can be named: BlockCrafters Capital, Matic, Band Protocol, Tokoin Contentos, CertiK, TOP network, VTVCab, Vietnam Football Federation, Geleximco and has formed a partnership with Vite Labs.
More information about KardiaChain be found here.
Official Announcement: https://t.me/KardiaChainOfficial
Vite admin: What are the Competitive advantages of KardiaChain & Why do any service providers choose KardiaChain instead of other similar projects?
Tri Pham- KardiaChain CEO: We aim to achieve mass adoption on a large scale in an efficient manner by leveraging our strong business acumen and local know-how and partnering with large enterprises and government bodies to decentralize their existing products/services for the general public. These hybrid decentralized solutions are called ADapps (Adoption DApps) and are unique to KardiaChain. This approach allows KardiaChain on-board non-crypto users onto the blockchain in a highly-efficient manner, while at the same time-saving costs for customer acquisition and market education. What makes KardiaChain ADapps special is that it creates real demand for KAI token and real value for our investors.
Our dapps are tokenized with many KAI use cases integrated. For example, our first ADapp ON Sports will allow for KAI token holders to play prediction games, live stream donations to their favorite football players as well as earn KAI tokens through various in-app tasks.
Vite admin: What's ON sports? Your company is in collaboration with "ON sports", could you tell in details some features about this KardiaChain 1st dApp?
Tri Pham- KardiaChain CEO: KardiaChain is building a complete KAI tokenized football ecosystem, where if you are a Vietnamese football fan, you only need to hold KAI tokens to enjoy football at its best. The football ecosystem partners will include: Vietnam Football Federation (VFF), ON Sports, Vietfootball, KardiaChain FC (our very own Futsal club).
ON Sports is the top sport app owned by VTVCab, a national tv channel in Vietnam.
There are several blockchain features
Users holding KAI tokens in the ON Sports App are eligible to make football score predictions to win exciting football related rewards such as football match tickets, meet your favorite football player in person, football merchandise etc.
Users will be able to send donations to their favorite football players using KAI tokens either during football livestreams, or even their favorite player’s personal livestream.
Users complete daily tasks such as reading articles, viewing videos or refer their friends to acquire KAI tokens as rewards.
More details of the On sport can be found here
Vite admin: Why does KardiaChain pay high attention to the hybrid infrastructure? What advantages does this infrastructure offer in terms of payment system and usage?
Tri Pham- KardiaChain CEO: Many people are interested in this. Combining private and public blockchains allows us to create highly flexible solutions that are much more practical for real world usage and blockchain adoption i.e. our ADapps. Let’s have a look at the mobile payment gateway example and how we combine our hybrid infrastructure to develop highly flexible solutions that allow for maximum scalability, security, and privacy:
Each purchase on this new channel is a single transaction. Vietnam with over 100 million population will be able to use this payment gateway to pay for various 3rd party services from independent merchants. Therefore, the number of transactions will be immensely high when moving onto the blockchain.
These transactions will, therefore, be processed on the Telco’s private Kardiachain blockchain to maximize scalability.
Sensitive information that needs to be kept confidential, such as customer information will also be stored on Telecom’s private Kardia blockchain
Information that does not require scalability, nor confidentiality but rather transparency such as 3rd party merchant information will be stored on KardiaChain’s public blockchain
**Vite admin:**It's clear that blockchain projects are striving to achieve the "massive adoption". What's your mass adoption definition? What's KardiaChain going to do to achieve this, not only in the Vietnam market but also worldwide?
Tri Pham- KardiaChain CEO: Mass adoption for me means a large enough number of users to bring meaningful interactions on the blockchain
I like the idea of “tipping point”, where enough of people use blockchain services or possess the tokens will lead to a dramatic shift of behavior.
We are working in Vietnam first because it’s our home market. I want to make a strong case for the world about blockchain adoption.
Although China is very well ahead of the rest of the world, I still believe there is more space for blockchain in Vietnam. Especially because we have no legacy system to compete with.
For example, in developed countries, they already have a system in place for digital services. Blockchainisation will be a headache due to all the data migrations and changes in workflow.
Vietnam is still opened for that, we are in the golden population structure, a Young workforce that is tech-savvy and ready to learn.
Vite admin: I've got a question from some community users.
Can you tell us more about the partnership between Vite and KardiaChain. What scopes are the two parties going to work together?
Tri Pham- KardiaChain CEO: KardiaChain is developing a mobile payment gateway to reduce entry barriers to onboard non-crypto users onto blockchain via user-friendly payment channels. We started the integration process with the largest telco in Vietnam with over 60m subscribers, and other SouthEast Asia countries, who will be able to purchase KAI tokens using their mobile balance. Vite has been working with their partner Alchemy regarding their payment network integrated with POS providers currently used in Singapore. Vite will use KardiaChain’s mobile payment gateway to enlarge its user ecosystem. The cooperation will significantly leverage ecosystem’s user base to reach a higher goal of a blockchain digital payment landscape throughout Asia.
We can support each other in DEX technology. KardiaChain is "Non-invasive" interop, which means participating blockchains (ETH, NEO, TRX etc.) don't have to make any change to their protocol and infrastructure in order to participate in cross-chain operations. Indeed, when we talk to NEO tech team, they don't even know we already cross-connect them to ETH. You can compare this with some other projects which use sidechain or atomic swap where the participating chains need to support these protocol. Another example is Cosmos, which doesn't have strong requirements, but still request other chains to confrom to IBC protocol. Since KardiaChain support cross-chain operations through smart contract, we also have an MVP in our fully decentralized cross-chain exchange.
Vite with the goal of enabling fully decentralized cross-chain asset transfer, will apply fully non-invasive interoperability “Dual Node” KardiaChain technology to enable Vitechain cross-chain transactions in a fully non-custodial manner.
1.@iam12312: What were the main challenges that you faced in these times & how do you see these Developments helping Kardiachain to Attract Investors from around the globe? & Also talk about the positives?
Son Nguyen We have a grand vision for KardiaChain and have been working to well-position our company to become the dominant player in Vietnam. So there are three points:
First, Vietnam is a great market for blockchain and KardiaChain will be number 1 in Vietnam. Second, we focus on building adoption and real-life applications for the token. Last, fixed supply and increasing demand will drive token value steadily. So KAI holders will both having great returns over a long time and become the early supporters for a decentralized future, starting from Vietnam.
2.@BintAlansary Could you give me 3 key points to convince me and other angel investors invest in $KAI in the long-term?
Astrid Dang: KAI is mainly used in staking, paying for transactions, deploying smart contract, and participating in services in KardiaChain ecosystem. KAI is good for long term holders because we focus on expanding the usage of our tokens and our user base. We are looking at 1 million KAI users at the end of 2020 acquired via a series of products and services from our partners. The longer you hold, the more places you can spend your KAI tokens. Limited supplies and increasing demand will drive the value up.
3.@rinnguyen: Can you tell me Three reason why Investors should invest in Kardiachain?
Son Nguyen Moreover, KardiaChain is proud to have many existing revenue streams by collaborating with major international and domestic strategic business partners like our first ADapp announced: ON Sports with 200,000 registered users. So how exactly do our partnerships with major organizations benefit investors?
ADapps in collaboration with major enterprises have a profit sharing model, KardiaChain will use these funds for business and tech development as well as buying back our tokens on the secondary market to reduce the total circulating supply and thus directly benefiting our investors.
Learn more about our ADapps here
4.@ashwini_Crypto: What are your plans Regarding increasing Real Value & Real demand of the KAI Token? Can we see the utilisation of these tokens in the gaming Industry?
Tri Pham We are applying KAI tokens into multiple industries. By getting more users in different market segmentations, we can increase the demands for KAI. Blockchain for Gaming industry includes several aspects: payment, single sign-on (SSO), and game items (NFT). KAI token usage will focus on SSO and NFT (but there are legal concerns). For Payment we already have a mobile payment channel with telecom.
5.@mikuranaI see on your platform, one of your ecosystem products is "ESWIM" can you explain in detail how this ecosystem product works on your project?
Astrid Dang: ESWIM (elastic sharding with incentive mechanism) is a key feature to guarantee 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 combine machine learning models with our computed formula 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 such as increasing staking awards for the groups with fewer validators, or increasing deposit requirements for groups that already have high number validators etc.
6.@Sanjuroman1992How actually KardiaChain provide non-invasive interoperability and how can able to connect all blockchains to single protocol?
Son Nguyen: "Non-invasive" interop means participating blockchains (ETH, NEO, TRX etc.) don't have to make any change to their protocol and infrastructure in order to participate in cross-chain operations. Indeed, when we talk to NEO tech team, they don't even know we already cross-connect them to ETH. You can compare this with some other projects which use sidechain or atomic swap where the participating chains need to support these protocol.
Another example is Cosmos, which doesn't have strong requirements, but still request other chains to confrom to IBC protocol.
For second part of you question, since KardiaChain support cross-chain operations through smart contract, we need to add some CISC instruction like "hold-and-release-at-certain-time" which ETH doesn’t need to support. DApp developers using KardiaChain would be able to write these command in the smart contract, whereas in ETH they can’t.
7.@Shaa93: For each project, #community factors contribute to the project's victory. Kardichain is new, so how does the project have a marketing plan to attract the interest of newcomers and maintain participants in the Kardichain community?
Astrid Dang Great question! Please check out this article to learn more about our blockchain adoption approach, it is user-friendly because our effort is to decentralize enterprises and government solutions, which are well-established with existing large userbase. Our hybrid ỉnastructure as well as non-invasive platform are useful for this: https://link.medium.com/pugfV3j9j6
For the Intangible wallet solution, please read more here: https://t.me/kardiachainofficial/177
The end of AMA. Special thanks to KardiaChain team for joining the AMA
Trade here: https://x.vite.net/trade?symbol=KAI-000_ETH-000
See the announcement here: https://forum.vite.net/topic/3822/ann-vite-labs-listing-kardiachain-kai-and-airdropping-1-250-000-kai-to-vx-holders
ViteX exchange telegram at https://t.me/vitexexchange