Zebi Updates — Q2 2018

Jul 2, 2018 · 8 min read
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Greetings to the Zebi community. As promised we are out with our update immediately after the quarter

We are excited about this update as it comes one full quarter after the ICO. It has been an active quarter, where the focus has strengthened on Sales, Marketing and Product Strategy along with Engineering.

The next two quarters of calendar 2018 are important from our perspective, as we evolve a more refined product strategy and roadmap. In the coming months, we will be working aggressively on a few technical aspects of Zebi AI Chain and developing use cases, targeted at specific verticals. Achieving the targets we set for ourselves requires a strong team, and as a part of our ongoing efforts to build a great team, we have added two senior members.

Vinod Raghavan — Vice president of Sales and Marketing

Srinivas Peri — Senior Director of Product Strategy

Both of them will be working closely with the CEO office and engineering to further strengthen Zebi’s presence and offering.

We are on track to launch Zebi Mainnet in Q4 2019. One of the issues we are addressing currently is the staking process for the nodes. We are committing to guarantee staking opportunity for anyone with at least 100,000 Zebi coins. The eventual staking number could be different, and will evolve along with the broader aspects. We are actively talking to various stakeholders and will lock down on specifics by end of this quarter Q3 2018. Similarly there have been many questions from the community on the conversion of ZCO’s to coins on the Zebi Mainnet. This is a standard practice and is work in progress and we will be updating the community on further developments.

We have been closely following the views expressed by different governments with regards to Crypto Assets. In India the government has explicitly stated that Cryptocurrencies are not legal tender, but has not used the term “Illegal”. We re hearing sound bites from the broader ecosystem, that there are multiple parties at various levels in the government and RBI, that are looking into this and we hope that there will be a very clear differentiation between “Cryptocurrencies” and “Utility Tokens”.

On this point we at Zebi are very particular in positioning ZCO not as a Cryptocurrency but as a ‘Blockchain Utility Token” (Zebi BUT). This the terminology we would uniformly communicate going forward, and avoid the word crypto to mitigate any unwanted connotations and associations, that might have an adverse impact from a policy perspective. This will also help us maintain a consistent communication across the ecosystem. As part of this messaging, our stand is clear that Zebi Mainnet, while will facilitate Blockchain transactions and the use of utility tokens, there will not be any ICO’s or money transactions. We also hope that other governments would also tow this line and formulate policies with a clear demarcation.

As a part of our product evolution roadmap, we had committed couple of milestones for Q2 2018.

  • Zebi AI Chain for education and employment records and
  • Integration with Ethereum

We are happy to share that we have accomplished both. For education records we are in the final stages of signing an MoU and will keep the community posted. We also now have the ability to post transactions onto the Ethereum Mainnet, if any client wishes to. We are also on track to meet our Q3 goals.

Blockchain has aroused interests of many state governments in India. Zebi is in the process of engaging with them and exploring possibilities of collaborating. On a national front, there have been questions about planned India Chain by NITI Aayog. We are evaluating an appropriate approach and talking to some stakeholders about this. While we would like to pursue this opportunity aggressively, this is still at a very preliminary stage. Keeping all the media bytes apart, we are awaiting clarity on multiple fronts with regards to India Chain and will proceed cautiously.

On the non-government front, we have seen interest from multiple organizations with a broad set of use cases. We have successfully signed up to execute a pilot implementation for a reputed logistics firm in SE Asia. Zebi is working on deepening this engagement and we are positive about making this a larger collaboration and a gateway to significant growth in the region.

In one of our previous communications, we had touched upon Zebi Identity solutions. We at Zebi are pretty excited about the market for overall identity solutions based on Blockchain. While we work on the broader scope, we have finalized an MoU with a China-based firm to offer a complimentary layer on top of Zebi AI Chain based Identity solution. You will get to hear about this in the next couple of days.

We at Zebi would like to thank you for the community’s continued support and trust. We are committed to work closely with the Zebi ecosystem through constant engagement. You will hear more from us in the coming weeks and months.

Below we have tried to address some specific questions from the Telegram community related to our Q2 updates.

Telegram Q&A session — 2nd July 2018

Question 1

In order to maintain a public decentralized network (Zebi public chain 2019) you need to spread private computational power actively verifying the network for immutability. ZCO will be used as payment in the Zebi Data Gateway. How will a fraction of these payments come back to ZCO holders actively verifying the public blockchain? (@ElMimioFantastico)

Zebi: Zebi Data gateway is purely a gateway to access data is completely different from Zebi AI Chain. ZCO’s will be used as utility tokens on Zebi AI Chain

Question 2

If/when there are masternodes, how many Zebi (roughly) do you envision having to stake to run a node? (@AceintheHole)

Zebi: As mentioned in the update, We are committing to guarantee staking opportunity for anyone with at least 100,000 Zebi coins.

Question 3

Will there be a token swap between ZCO ERC-20 and ZEBI on the public mainnet in 2019? — If so, how could this take place? (@hesh870)

Zebi: Yes, this is a pretty standard swap, and is work in progress. As things evolve, you will hear more about this in the coming quarters

Question 4

How is the ZCO ERC-20 Token currently being integrated with the ZEBI Blockchain? Does it have utility with current existing business or will the utility come later, possibly after the conversion to ZEBI Coin on the public mainnet? (@solidsnake2018)

Zebi: This is work in progress and as things evolve, you will hear more about this in the coming quarters

Question 5

Data operations regarding highly sensitive data such as land registries, hotel check-ins, etc. Seem to be very important but less frequent compared to other use cases such as trading and money transfers. How much data transactions is Zebi expecting to process in the future, and how will this be enough to support the ZCO ecosystem? (@anton2708)

Zebi: As outlined in our whitepaper, the total market size of data protection in India alone is more than $5 Billion per year. We potentially foresee a possibility of handling millions of transactions across different use cases

Question 6

Currently, there are a lot of court rulings debating if different cryptos should be considered securities, what are your expectations for such rulings with regards to ZCO? (@anton2708)

Zebi: We have outlined this in the Q2 update. We are confident that governments will differentiate between Cryptocurrencies and Utility Tokens.

Question 7

For customers, who would like to pay for Zebi services in fiat, is there a plan by the Zebi team to buyback an equivalent value in tokens from the market? If not, then what is the plan to keep ZCO valuable, as during these early stages in the crypto-world, new customers would always prefer to pay by fiat? (@sahirp)

Zebi: As we highlighted in our whitepaper

“ From time to time, Zebi may use some of its profits to buy back limited quantities of ZCO’s from holders, to enable them to exit their holdings if they are unable to derive utility from the ZCO.”

We are committed to this. Specific details and modalities will be worked in due course.

Question 8

Simple (1X1) Smart Contracts and transaction processing through Zebi AI Chain platform are planned in Q4 2018 as stated in the roadmap. Will Zebi be hosting second/third party (d)apps and ICO’s? (@hesh870)

Zebi: On ICO’s, no we will not be hosting ICO’s. We will be hosting other data access related Dapps on Zebi AI Chain. Some of the potential areas for Dapps could be investments, credit scoring, background checks, hospitality, travel etc. We expect to see some definite use cases and applications in the coming quarters.

Question 9

The Kerala government has embarked on a strategy to leverage the Blockchain technology to streamline purchase and distribution network of milk, vegetables and fish in the state, this project is being implemented through the Kerala Development and Innovation Strategic Council (K-DISC), is Zebi involved with this initiative? If not, is Zebi planning to get involved? (@gaboboga)

Question 10

NITI Aayog is bringing out its blockchain policy paper next month releasing the development plan for IndiaChain, a blockchain platform. While the details are not out yet, has the government invited Zebi for a discussion on the project? Since it will be a public platform and there might be a bidding process, is Zebi going to bid for the project aggressively? (@JS_M3)

Zebi: Regarding Q’s 9 and 10, we have an approach for this and have outlined it in the Q2 update

Question 11

Zebi intends to hire up to 900 employees during its development until 2022. That is a lot. What kind of functions does Zebi need to hire and for what purposes? — How many developers and blockchain specialists does Zebi have and intend to add? (@Mariuskaz1996)

Zebi: We had arrived at this number based on the broad opportunity across multiple industries. While we are committed to building strong functional teams, there is no thumb rule for the exact numbers. This will evolve and the overall numbers will adjust to the business realities as we move along.

Question 12

The Indian government still seems uncomfortable with cryptocurrencies and native tokens, what does Zebi belief is the government’s stance on tokenized platforms and are the governments aware of Zebi’s tokenized structure? (@hesh870)

Zebi: We have outlined this in the Q2 update. We are confident that governments will differentiate between Cryptocurrencies and Utility Tokens.

Question 13

What are Zebi’s plans for countries like Malaysia and Sri Lanka which don’t supply cryptocurrency. Will the ZCO Token not be utilized in this countries? (@Cryptoshef)

Zebi: Again we are hoping that these governments take a realistic approach and distinguish between Cryptocurrencies and Utility Tokens.

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