BOLT Global Community AMA
Hosted on Telegram: 26th September, 12:00 UTC
On Thursday 26th September at 12:00 GMT, the BOLT Co-Founders, Jamal Hassim & Christel Quek joined the community for an Ask-Me-Anything (AMA) session.
Davos Cryptos moderated the AMA, which was divided into pre-submitted community questions and live questions.
Davos Cryptos: Hello BOLT Community,
Thanks all for joining the BOLT AMA.
We’ve asked the BOLT Community to submit questions via the BOLT AMA, Announcement Format. Jamal & Christel have made precious time available to answer these questions.
Question: “Hi, how can I buy this token?”
Christel Quek: BOLT can be traded on Bitmax, Kucoin and Binance DEX (officially), with trading pairs across BTC, USDT, BNB and BTCB
Question: “What will happen after you have got paid with BOLT tokens from sponsors. Sold on exchanges, kept as reserves, or burned?
For token holders it would be best if they got burned to reduce the circulating supply and make BOLT more scarce.”
Jamal Hassim: Unless it’s Tokens that are burnt, other Tokens in the ecosystem will be recirculating as we would not otherwise have enough Tokens for the requirements of the ecosystem.
Question: “When do you plan to add subscription plans in BOLT+ and allow payments to be made with BOLT token?”
Christel Quek: We will need to balance this with user growth. Will evaluate with team and see what works best for everyone.
Question: “Will BOLT be available on Hisense tv’s in the near future & what is the marketing plan for olympics & rugby any ambassadors?
Also when audit done”
Jamal Hassim: We can’t comment explicitly on what we will be doing with Hisense in all of its breadth and scope, but we can assure the community that you would not be disappointed with what is coming up soon.
Olympics is in August 2020. All that we are doing right now to get the platform rock solid, the features, the staking, the building of communities, learning from our data based on user habits will inform our marketing plan for the Olympics. We will likely begin work on that in Q1 2020.
Audit will be done soon. “
Question: “When will you begin staking?”
Christel Quek: We are already testing this (internal platform , aka BOLT Stake) and we are also keen to collaborate more with ThorChain (aka BEPSwap) for this purpose. We will open up a waiting list to test this in October and do a full launch around that period.
Question: “Do you plan to transition the existing user base on your Telco platform over to the new BOLT platforms? How do you plan to do that if that’s the case?”
Christel Quek: We will indeed, together as one team and one community
Jamal Hassim: Yes we do. We have the database of users. We will work with the telcos to do so through cross-marketing, re-targeting and joint promos. There’s a lot of coordination work to be done here
Question: “Why do you need BOLT token? Couldn’t you make your app work perfectly without any BOLT token integration?”
Christel Quek: We have covered this numerous times in our whitepaper and various AMAs. The BOLT Token is a crucial glue of the entire BOLT ecosystem which now includes BOLT+ (our mobile live TV platform currently available on iOS, Android and Web) and Pegasus (our proprietary wallet which allows users to store and redeem BOLT tokens and other participating tokens from activities in BOLT+).
The BOLT Token, in short, allows us to engage users in a more interactive and value driven way without having to go through multiple billing gateways in local markets. It also allows us to scale our ecosystem where user activity on BOLT+ can be tokenised and redeemed for other items of value, such as mobile data plan top ups.
We have spent the last year and a half building up a scalable tech architecture, acquiring users across multiple sporting events, and shipping our platforms across iOS, Android and Web. Our first token utility use case will go live in a few weeks. That will just be the first use case with many more to come.
Question: “Is BOLT in talks with other mobile manufacturers to install the BOLT application in mobiles?”
Jamal Hassim: We have received interest from different partners who are looking for ways to work with us in multiple markets. Unfortunately we are unable to reveal any names for NDA purposes. Presently, our title hardware partnership remains to be with Hisense.
Question: “Is BOLT in talks with other exchanges to get listed?”
Christel Quek: We cannot comment on any confirmed exchange listings. But yes we are always talking actively to other exchanges.
Question: “What is the purpose of your audit? And how many months will tokens deposits be disabled? 2,3 6 month?”
Jamal Hassim: We are doing this as part of a due diligence process for an important corporate milestone. That is all we can reveal for now. We will look to open deposits soon as the due diligence process is almost complete. Our auditors are KPMG.
Question: “I am from the US, I would want to know what your plans for College football, NFL, NHL, NBA etc.. are. Streaming games can be frustrating on ESPN’s site as well as other cable providers. A PPV or subscription service would be great.”
Christel Quek: Thanks for this great question! yes, we will definitely look into that and make this part of our North American outreach and market strategy, likely for 2020.
A lot of focus will also be put on partnerships to distribute the BOLT+ service through cross-promotions and cross-selling. The intent is to increase our distribution reach with complimentary businesses. We are always looking to expand our range of great sporting content as can be seen recently from our content lineup and also based on upcoming events that we have promoted. We are actively looking at a few other sports including e-sports, extreme sports and some MMA.
Question: “User created content has driven YouTube to become a goldmine for Google. What are your plans for UCC in the future, and how soon would that be implemented. I believe that interest in your app is growing and the ability to add content would only increase it. You tube has become over regulated and I feel a new app with less censorship could take a huge portion of their market.”
Jamal Hassim: We are in the process of developing a partner portal where users can submit content to be considered for publishing on BOLT+. If their content gets published, we will link up their respective wallet addresses and employ a smart contract mechanism where users can be paid in $BOLT depending on the validated views their video gets.
We have already written the required smart contracts, but would need some time to develop the partner portal accordingly. We foresee to begin testing this with a small batch of content creators at the end of this year and we hope to launch it in early 2020. Feel free to let us know how we could get the community to support this initiative! We are open to suggestions of content genres to ensure a well curated, quality experience.
Question: “I know that your app will be pre-installed on phones headed to Africa. Do you have any negotiations in the works with companies like Samsung or LG as far as pre-installation on their phones”
Christel Quek: We have received interest from different partners who are looking for ways to work with us in multiple markets. Unfortunately we are unable to reveal any names for NDA purposes. Presently, our title hardware partnership remains to be with Hisense.
Question: “Can you explain when and what type of real utility we will have through BOLT Tokens other than staking?”
Jamal Hassim:
1. BOLT Stake: A game of skill and prediction where users can stake their BOLTs and participate in a football-themed game where they can predict the winners of popular football matches and key moments during the game. Winners will win BOLTs and incorrect answers will forfeit the amount of BOLTs that is staked. We have covered the progress of BOLT Stake extensively in this issue of BOLT Vault and we welcome our community to give us feedback and get ready to join our waiting list. @DavosCryptos can coordinate with our Head of Operations @lynnIM2. Sponsorships and Partnerships: Incentivising tokens to be purchased by our sponsor partners and leveraging strong cross-marketing with present Partners. We have a strong partner ecosystem. Now that BOLT+ and Pegasus have launched, we are looking to start expanding and testing that with key partners in our ecosystem.
Question: “When do you expect to add Premium Content that requires the use of BOLT Tokens to view?”
Christel Quek: We have already built the feature but we have not enabled the function. Our team will assess and get back to the community. The content needs to be compelling and interesting. Maybe for eSports?
Question: “Are there any plans of BOLT being added to higher volume exchanges? Like for example Binance?”
Jamal Hassim: We cannot comment on exchange listings but rest assured we are pleased to be part of the Binance ecosystem as part of our Binance Chain integration.
Question: “This won’t get answered but is there a chance BOLT will be integrated into Hisense TV’s?”
Christel Quek: We’ll just say it now. We are already developing something for them on Hisense TVs. That’s all we can reveal for now. We hope to surprise the community when the news is ready to be released. Please do not keep asking when that will be though. We will release the news and details as soon as we are all ready. :-)
Question: “When are we going to see real utility of the BOLT Token?”
Jamal Hassim:
1. BOLT Stake: A game of skill and prediction where users can stake their BOLTs and participate in a football-themed game where they can predict the winners of popular football matches and key moments during the game. Winners will win BOLTs and incorrect answers will forfeit the amount of BOLTs that is staked. We have covered the progress of BOLT Stake extensively in this issue of BOLT Vault and we welcome our community to give us feedback and get ready to join our waiting list. @DavosCryptos can coordinate with our Head of Operations @lynnIM2. Sponsorships and Partnerships: Incentivising tokens to be purchased by our sponsor partners and leveraging strong cross-marketing with present Partners. We have a strong partner ecosystem. Now that BOLT+ and Pegasus have launched, we are looking to start expanding and testing that with key partners in our ecosystem.
Question: “Is BOLT now running on the Zilliqa Mainnet? Or is it still an ERC token? If the latter, when migrate? Thanks :)”
Christel Quek: We are currently a BEP-2 token, most of our users have migrated successfully from ERC-20 to BEP-2. Currently all the active changes where we are actively supporting are trading on our BEP-2 issuance; namely Bitmax, Binance DEX and Kucoin. We will have a ZRC-20 Issuance on Zilliqa chain for purposes of using Scilla (Smart Contract processing). Users can then swap their ZRC-20 version of the BOLT token seamlessly for the BEP-2 version for liquidity and trading on exchanges. We are currently scoping out a partner portal which could implement this seamlessly. We’ll announce timelines and plans when they are more firmed up, likely towards the end of the year.
Question: “When will BOLT currency run on Zilliqa mainnet rather than Binance Chain?”
Jamal Hassim: We will have a ZRC-20 Issuance on Zilliqa chain for purposes of using Scilla (Smart Contract processing). Users can then swap their ZRC-20 version of the BOLT token seamlessly for the BEP-2 version for liquidity and trading on exchanges. We are currently scoping out a partner portal which could implement this seamlessly. We’ll announce timelines and plans when they are more firmed up, likely towards the end of the year.
Question: “For the Olympics is the team looking to sponsor a team or a mascot for the event?”
Christel Quek: We’re not sure yet, but we are always open to suggestions around this subject!
Who knows who we could sponsor…
Question:
“When does staking start?
When make burn and for that buyback?
Do you have hope for binance listing?
Kucoin, Bitmax and DEX. Why prices are different?
Does the team have a market maker? Are you considering listing on other major exchanges? “
Jamal Hassim:
There are a lot of questions here.
Quick Answers:
1. Read more about BOLT Stake in our edition of VAULT, released today and before our AMA. We will begin testing BOLT Stake in early October, and open up a waiting list then for users who are interested to try and provide us with feedback. @DavosCryptos and @Thomas_Alex can coordinate.2. We cannot anticipate if there will be a buy-back and when.
3. You know the rules. We cannot comment on exchange listings.
4. Market forces determine prices. We can’t comment as to why and how there are price differences on different exchanges.
5. We cannot comment on whether we have a market maker.
6. Yes we are considering and speaking to other exchanges.
Question: “In May, Christel tweeted about a potential NBA cooperation with BOLT. Is this deal going through and when will be able to watch it on BOLT+?”
Christel Quek: I will take this question. We have had a series of very good meetings with them. We’re under NDA at the moment and we can’t explicitly reveal the extent of our potential arrangement with NBA yet. We are currently evaluating the content markets we would like to distribute to and the commercial value of the entire contract. I think it is important to set expectations here — bear in mind as well that it takes a long time to source, negotiate and speak to the right partners at any major content network, let alone the NBA. We are presently negotiating directly with NBA HQ in New York.
Question: “Have you partnered with any companies based in India? If yes, kindly mention those partners”
Jamal Hassim: Yes, we are looking to do a JV with a local partner there. We foresee growing our presence and footprint more aggressively in South Asia (namely India and Bangladesh) in 2020.
Question: “Are you trying to enter the Indian market? If yes, any updates?”
Christel Quek: Yes, we are looking to do a JV with a local partner there. We foresee growing our presence and footprint more aggressively in South Asia (namely India and Bangladesh) in 2020.
Question: “Has the BOLT team sold any Tokens yet? If not when can they begin selling and do you anticipate that happening while token price is under ico price?”
Christel Quek: We have not vested our team tokens yet. We will begin our first vesting for team tokens this October. Our team wallet can be tracked here: https://explorer.binance.org/address/bnb1juj9nfe6jq9hztw0na8wqjxhcp05rhrdc56tvz
Question: “When is $BOLT coming to the USA?”
Jamal Hassim: Definitely on the cards. Speak to @ScottJackfield and @cryptothayne! They are leading the line for us in North America
Question: “If the BOLT token is no longer an ERC20 token, does this mean that BOLT can only list on exchanges that support Binance Chain?Consequently BOLT will be delisted from Kucoin, HotBit and BitMax? Is this correct?”
Christel Quek: Currently BitMax, Kucoin and Binance DEX are trading the BEP-2 version of the BOLT Token. As a business, we are flexible enough (with good reason) to adapt our model if needed to re-look supporting an ERC-20 to BEP-2 bridge again should the demand and continued negotiations with exchanges look positive. It is in our interest to also ensure that the BOLT token will enjoy strong support and good liquidity amongst more trading pairs in the market, particularly when BOLT STAKE takes off. This is the reason why we have not burnt off our ERC-20 tokens yet. Right now, all of our tokens in active circulation are BEP-2 (with the exception of trading on HotBit, which is not our official exchange)
Question: “Do you have a plan for Turkish football broadcast?”
Jamal Hassim: This is a great idea. Please let our Turkish community manager @cryptoperest and our overall token community manager @DavosCryptos know your suggestions. They will tally and filter to let our team know.
Cryptoperest: We will do a special study with the Turkish community on this issue.
Question: “What is the detail of the BOLT & TikTok partnership?”
Christel Quek: As part of the first phase of agreement with ByteDance, ByteDance would be sharing BOLT’s original content within the Helo app, and in exchange Helo would be promoting and boosting BOLT+ profile to their 100 million users.
We are also looking to expand this relationship to other applications powered by ByteDance including BaBe, which has over 10 million users in Indonesia.We have direct contact as well with people at TikTok and we are looking at the best way for us to cross-market and develop a commercial proposition together.
Question: “Advertising as a work everywhere on the Internet we will see the application of BOLT?”
Jamal Hassim: We have our in-house BOLT Marketing Team, plus we will hire other marketing agencies for specific partnerships related to the growth of BOLT and the Utility. We have had a substantial amount of coverage in the last 6 months alone and in both crypto and mainstream media and press. We have been covered by The Independent, Sky News, CoinTelegraph, Forbes and Reuters. And there is more coverage coming!
This ends the previously received question segment. Following are the open questions from the Telegram community.
Question: “Thank you for this great AMA! I’ve noticed that there are some YouTube embedded videos on the BOLT app. Roughly how are you planning to divide the percentages between original content exclusively on BOLT vs. embedded, curated content from other streaming platforms? Is the YouTube embedding a temporary solution until there is more original content available?”
Christel Quek: YouTube embeds are strategically important for us. Initially started with us testing to see what videos are resonating and what aren’t. If the original YouTube uploader embedded web embeds, we can have it in our app. So it is a win win. We can focus on quality.
So we will always allow for that to happen, but we of course want to keep the mix even, perhaps 50–50, and allow more content creators to directly upload their videos into our upcoming sponsorship portal.
Question: “How soon is this audit will be completed soon. I think there could be better answer here. Like week, month or 2 months..not asking for exact dates..but rough estimate”
Jamal Hassim: We are getting close to completion; very close
Question: “Love the stake idea! Will you be able to multiple stake? as in I put 1k BOLT on a 0–0 and say 5k on a 1–1”
Jamal Hassim: We are finalising the exact staking mechanics. But we will be keeping it simple when we start and then add more functionality as we go along
Christel Quek: You can only do one score prediction. we will also ask one final question after the match (and u need to watch the replay) in order to redeem your BOLTs 😀
Question: “Hi Christel, am I over thinking this or are you trying to secure Mr Usain Bolt for the 2020 Olympics… maybe reading too much into your earlier answer on sponsorships”
Christel Quek: I won’t say be careful for what you wish for
@JHAS_CEO_BOLT and i will say, anything is possible.
Question: “Why no fiat payment on the App to buy Tokens to be able to stake for non crypto users”
Jamal Hassim: We are working on options.
Question: “Great AMA guys, apologies if I am misunderstanding, but is there a mechanism for staking that would not imply betting? Aka could I stake a mil BOLT for example to provide liquidity for other betters on the app?”
Borna: Thorchain will have a feature that is similar to what you are describing, it is just that the tokens will be used for a swap.
Braggo: Ty, yes I am familiar with their BEPswap just wondering if this would be seamlessly integrated into the wallet. A one button click lockup or stake using the Pegasus wallet would be ideal
Christel Quek: We could do that.
Question: “Hello. Love the AMA! Are you looking into adding UEFA champions league and Europe league?”
Jamal Hassim: We already carry champions league highlights not the europa league though
Christel Quek: That would be super expensive so we need to develop on the highlights we have
Question: “Is the Pegasus app and wallet required to stake? If so, when will the iOS version be released?”
Jamal Hassim: The IOS version will be available very soon, pending clearance from Apple
Question: “When NHL hockey?”
Jamal Hassim: Not just yet. But if theres enough interest this might change
Christel Quek: step by step
Question: “We can see BOLT marketplace this year?”
Christel Quek: Our sponsorships portal — we are deciding on a name!
Question: “Staking on BOLT will be similar to 1Xbet?”
Jamal Hassim: We will have a look at 1Xbet
Question: “I’ve noticed the BOLT+ app still appears as Beta in Google Store. Do you have an estimate for when the final release will be available on the app stores? Also, if possible to reveal, are you in talks to have more live sports channels apart from Trace Sports and Channel 9?”
Christel Quek: That’s weird, we will have a look at it. It should not be beta.. unless we have actually given u the test link last time , so u always have the most updated app first :)
Lexie: It actually appears as Beta when searching for BOLT Global on the Google Store
Christel Quek: OK I’ll ask the dev team to look at it tomorrow, might be linked to your google account
Question: “One question, when staking feature comes into play, like most staking tokens for other crypto companies , of more supply is released into circulation it will pressure the price downwards. What is the company’s mitigation or plans in reducing the said selling pressure?”
Jamal Hassim: We aren’t releasing more tokens for this purpose. The Token supply is fixed
Christel Quek: [I] don’t think circulation will change unless we release more into the market
Question: “Ease of adoption and all even if utilizing tech from Rune but having it on the app would be great. Thx again for the time 🙌”
Christel Quek: Our pleasure
Jamal Hassim: Yes Lexie we shall be adding more sports tv and radio channels
Question: “Can you give details about your partnership with 2020 Olympics, it it official??”
Christel Quek: Yes it’s official we will be streaming it next year
Question: “BOLT will be on hisense E30 this Friday?”
Christel Quek: Watch out for the news, we will begin our cross marketing campaign with hisense tomorrow [Friday 27th Sept]
Question: “How will Hisense market BOLT?”
Jamal Hassim: Initial focus will be to phone consumers in the South African market and then we will expand it to tv consumers as well. In Africa and then globally
Question: “I think a shout out for the admins of the BOLT groups is needed as well good job guys, we’re not an easy bunch to keep happy! 😁”
Christel Quek: Indeed, our admins are top notch and have the full support from Jamal and myself.
Question: “BOLT needs to partner with Grab since it’s the Uber in the location”
Christel Quek: We know some guys there, but slowly yeah 😁
Jamal Hassim: Watch this space……
Question: “Live streaming?”
Christel Quek: Highlights and we may have live streaming, may.
Jamal Hassim: Selectively for some events….yes
Question: “Hope Hisense mentions BOLT on the social media platforms”
Christel Quek: look out for it ….
Closing
Thanks all for being at our BOLT AMA, we hope it was a successful experience for you.
Thanks Jamal/Christel for both of your time, we know both of you are very busy! Same for our Admins!
We’re glad to have such energetic and growing Community!
Christel Quek: Thank you everyone ❤️ We are glad to be building. we have had an amazing quarter and we look forward to pushing hard in the last stretch for this year and take on 2020 by its horns.
Jamal Hassim: Happy to share our time today and sending our blessings to all of you for your support and time.
Christel Quek: Not possible without our entire team. @JHAS_CEO_BOLT and I want to thank them and our community too.
The above content has been edited. Minor remarks not related to the Question/Answer flow have been removed for clarity, as have unanswered questions. Misspellings have been corrected.
The full unedited conversation of the AMA is available at:
https://t.me/BoltGlobal — 26th August 2018 12:00 (UTC)
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