We had a great voice AMA (Ask Me Anything) session with prospective YFDAI LaunchPad project, KwikTrust yesterday. We hosted Simon Read, CEO of KwikTrust alongside Yasir Qayam, COO, and Christina Ashley, CMO.
To play back the AMA in it’s entirety, you can listen to it here (1 hour): https://drive.google.com/file/d/1TPgWw1EncEHvTN5bpHAGe8BZM-pTOP6g/view?usp=sharing
Here is a written recap of the AMA highlighting the questions that the YFDAI team asked the KwikTrust executives before we got into community questions:
Simon Read (“SR”)
I completed the Oxford Blockchain Strategy Programme and helped to create the We In Social Tech program, for female tech entrepreneurs, sponsored by Deutsche Bank. I regularly work as judge for startup competitions and am a mentor to tech accelerators. I am also a Director of Insanity Group, a globally diversified media company.
Yasir Qayam (“YQ”)
I have been researching blockchain projects since 2017 before hopping into the Oxford BC strategy programme. My background is in project management and delivery. Over the years, I grew my network substantially in crypto space, and first was an advisor before becoming the COO of KwikTrust.
Christina Ashley (“CA”)
I started in the SaaS Tech sector building strategic marketing plans for innovative, scalable technologies. In that field, I held lead positions within blockchain technology groups, SaaS startups, and AWS partner marketing programs. I also helped build social media mentoring program for future women in tech.
2. Tell us about how each of you entered the crypto space, shaping how your background will contribute to the success of KwikTrust.
SR — I was mentoring a tech business as part of a tech accelerator program. The business pivoted into a blockchain business. Sparked my interest in blockchain technologies, so I joined the Oxford Blockchain Strategy Program.
CA—While I was working with AWS tech partners, a colleague from a Paris tech startup I was previously at was building out an escrow platform using smart contracts. After a few back and forth my interest in the world was definitely peaked and I decided to dive in.
From there I was fortunate enough to work with a few projects that began integrating blockchain technology. My role within these has been to build out marketing, community and education strategies. It is definitely a challenge and one that we are happy to meet.
YQ — I came into the space seeing the growth in BTC and sudden explosion in the space. Did a deep dive into the tech and its applications. Then with OXBSp met like minded people and started working on building a product with application wider than just crypto space. My aim is to make blockchain application as common as using internet without people knowing they are using it.
3. Say we have a 2 minute elevator ride and you need to pitch KwikTrust to someone in the elevator. Please describe KwiRtrust with that in mind.
SR — KwikTrust records provenance on the blockchain. This can be intellectual property creation, proof of origination, photos, designs, or contracts. The provenance can be locked to the creator’s ID, using KYC processes, and then minted together into a more secure form of NFT — the Super-NFT — as a transferable asset. This enables higher value assets to be represented as NFTs and also opens up new asset classes across property, financial instruments and high value physical and digital assets.
4. Who are some other projects in your space that you would call competitors? How do you differ from them and what is KwikTrust’s unique value proposition?
SR — We compete across three categories — document validation and digital signatures recorded on the blockchain (competing with Docusign), document storage and management (competing with Google Docs) and NFT minting (competing with Mintable).
CA — In terms of document validation and digital signatures our edge lies within our use of blockchain. We don’t just provide a space for documents to be validated, it is so much more than that. We offer a method of validation that is highly secure, collaborative, and above all allows for an irrefutable record of activity.
Additionally we have integrated KYC and AML components, contract lifecycle management (traffic light system for expiry dates, etc…) and triple lock security.
On top of everything else, we offer the ability to mint an NFT. We are also introducing a new version of the NFT, the Super-NEFT which also gives us an edge over our competitors in the NFT space.
5. Can you tell us about the major milestones hit recently? and on your roadmap over the next 6–12 months?
SR — Launched MVP, successful pilot, filed patent application for the Super-NFT, recruited world-class team, sold-out initial seed round utility tokens.
YQ — The next 12–18 months are going to be really exciting for KT. We currently have an MVP which we have been testing and using over the last few months. We are embarking on phase 2 build which will include the super-NFT applications not just for Bored Ape Society but in banking, finance, legal, IP, Edutech, etc.
We are making NFTs more secure with ID and data points.
We will also be building ETH bridge for SNFT.
6. Tell us more about the tokenomics behind the project in the context of what would be interesting to know for those that are interested in participating in the YFDAI LaunchPad token sale?
1 . Mint NFT (1 x KTX pays for 1 x NFT). This price can be increased or decreased over time to maintain the value of the KTX. NFT minting cannot be paid for directly with fiat currencies.
2 . The right to integrate KwikTrust functionality into token holder’s own platforms. Platform owners need to maintain a minimum holding of KTX 5,000.
3 . The right to provide a service to others on the KwikTrust network. Service providers need to maintain a minimum holding of KTX 5,000.
4 . Discounted services for users. Services paid for in KTX receive a 15% discount.
5 . Staking. Token owners can join and benefit from staking pools.
6 . Purchase a voting identity to vote on Governance issues.
7. Who are some of your major partners that you currently work with? And those that you’re speaking to?
SR — Major partners include Startups with IBM, Founders Institute, and BlackDragon. We are also in discussion with several VC’s across the Middle East. We have team members across the globe to help build out strategic partnerships and continually bring in new interest from multiple regions.
8. What are your plans on exchange listings upon launch? And are you speaking with any major centralized exchanges that you can preview to the audience?
SR — Negotiating terms with a very large tier 1 exchange. Completed due diligence and investment committee review.
YQ — We are in discussion with one of the top tier platform, you will have to wait and join our channel for that info. We will be sharing it in coming weeks.
9. To raise awareness and excitement for KwikTrust, what marketing plans do you have in place for the token launch and in the months ahead?
CA — We have a dual marketing approach that covers both Investor marketing and user marketing. Our strategy focuses on creating brand awareness, recognition, user adoption and community engagement.
We believe in building out data-backed marketing systems that can adapt to the ever-changing trends of the marketplace.
Recently we have brought on board an international PR firm to join the marketing team and help us build out greater awareness across press and news outlets, crypto and blockchain communities and social media.
We have also grown the team to include new Community Managers to help build and engage our community through AMA’s, live events, giveaways, interviews and community events.
Other plans include:
- a social media strategy that pulls in information from not only the Kwiktrust team and influencers but also other industry leaders and the community.
- a Kwiktrust ambassador program
- Investor exclusives email marketing campaigns
- High level content production (including video demos, use case video content, and YouTube influencer
In addition to our user marketing that will overlap with launch and investor marketing.
10. Given the massive growth of both the DeFi and NFT industries, how do you see KwikTrust participating in those fields and what is being done today?
SR — KwikTrust participates in the NFT industry with an improved solution, the Super-NFT, which incorporates identity, and provenance minted together into a more secure NFT. This enables people to feel more comfortable trusting higher value assets to NFTs, and opening up new asset classes — digital and physical — such as property,
KwikTrust will participate in the DeFi space by enabling Super-NFTs to be used as security for financial transactions and to speed up the trading of financial instruments as NFTs. On the DeFi front, we have designed our tokenomics around DeFi with staking and other DeFi functions to be enabled.
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You can learn more about KwikTrust here:
Telegram 💻 — t.me/KwikTrustOfficial
Twitter 🐦 — twitter.com/KwikTrust
Facebook 📖 — facebook.com/KwikTrust
Instagram 📸 — instagram.com/kwiktrust
LinkedIn — linkedin.com/company/kwiktrust
Website (White paper request link) — kwiktrust.com
60-second Explainer — youtube.com/watch?v=Ae3uFgRNsqw
Product Review — youtube.com/watch?v=6GCcTNt5rWk
We will next be producing a governance vote to make the decision to take KwikTrust as our next LaunchPad project. In advance, we will share our due diligence report and a full Medium article on the project.
Discord — https://discord.gg/S3GRXRC
Bitcointalk — https://bitcointalk.org/index.php?topic=5295276.new#new
Reddit — https://www.reddit.com/r/YFDAI/