BUILD IN BEAR : AMA Session With INERY
On Thursday October 27th At 01:00 PM UTC
Hello Everyone!
For those who are new to this channel, CRYPTO SYZYGY is a community which is committed to provide Premium crypto signals, News and Analysis, Listing information, and Breakout alerts with high accuracy and Best technical analysis tools and Assistance to our people.
JOIN US : CRYPTO SYZYGY CHATBOX | CRYPTO SYZYGY|TWITTER
We were so pleased to host our Telegram AMA session with Inery where we gave you the chance to ask the team anything you liked. And you certainly delivered!
Summary of the AMA
- Host Round
- Twitter Q & A Round
- Telegram Q & A Round
Crypto King: Welcome all to yet another round of AMA with a renowned project called #Inery blockchain. A great project with an excellent team. All set for the AMA. Let's welcome Vincent💥💥💥.
Vincent Irlweck: Hello @everyone
Crypto King: Hi Vincent good to have you here Let's begin with the Host Round I have a couple of questions for you :))
Vincent Irlweck: Great lets start.
Q1. Could you please introduce yourself, about your journey in crypto and association with Inery?
Vincent Irlweck: Hi @everyone, I am Vincent Irlweck leading Inery as the Chief Marketing Officer. I am basically from Germany. I volunteered to join the German military in November 2016. After hard-core training, I graduated top of my class for physical and mental examinations. During my military career, I underwent several different courses including for the Special Force and Combat Medic. One of my major transformations in military happened when I was deployed to Syria in 2018. Post my deployment in Syria, I left the military and got into trading crypto. For the first couple of months, I kept losing money but I kept on learning the intrinsics of trading which led me to secure my first million dollar. I wanted to pass the strategies and skills that I acquired over the year. So I started to build a community in Europe and would hold seminars and webinars and gradually more and more people started to grow interest. The community grew so big, of around 30,000 people, that there were around 10-15 instructors teaching in several different parts of Germany.
Crypto King: Awesome! Ok my next question.
Q2.Could you please describe Inery and what it's trying to achieve in the blockchain space?
Vincent Irlweck: Inery is a decentralized data system based on a proprietary level-1 blockchain.
What this essentially means is that similar to how Ethereum is programmed for securely executing and verifying smart contract codes; and how Avax focuses on delivering a scalable blockchain with transaction speed, low costs, and eco-friendliness, Inery blockchain is designed to specifically deliver database management. IneryDB is the decentralized database management solution based on its own blockchain.
It will be the way for Web3 and blockchain-based projects to be truly decentralized, while maintaining high security, low latency, high throughput and ensuring complete owner control over data assets.
Q3.Could you briefly share the roadmap of #Inery the way ahead, any cool updates we should be looking for the project?
Vincent Irlweck: We started the development of Inery back in 2020 so we are really proud of how far we have come. And in the second quarter of 2022, we’ve been able to attain important milestones that will take us a step closer to our public testnet and mainnet release. Some of these milestones include the development of API functions for sending messages in JSON format over Inery blockchain, enabling CLI capabilities on server, Wallet address generation and testing on test servers, development and implementation of the algorithm for node rankings inside the blockchain, and more.
We were also one of the very free projects to complete their public testnet launch before their listing. We have recently listed on the Huobi exchange and our next big milestone is moving towards our mainnet.
Q4.Any new top tier exchange where we can see #Inery getting listed in the near future?
Vincent Irlweck: We are in talks with Bybit , okx, bitmart and other. You can follow our social media channels to stay updated with our latest news:
💬 Telegram Community (https://t.me/inery_blockchain)
🔈 Telegram ANN (https://t.me/inery_channel)
🐦 Twitter (https://twitter.com/IneryBlockchain)
🔺 Reddit (https://www.reddit.com/r/Inery/)
⭐️ Discord (https://discord.com/invite/inery)
🔔 Instagram (https://instagram.com/inery_blockchain?igshid=YmMyMTA2M2Y=)
Crypto King: Perfect.. Alright peeps, let’s pick some best questions from Twitter.
Twitter Q & A Round
Q1.I have seen that IneryDB offers use cases for the healthcare, gaming, and aviation sectors. Could you describe how it might have an impact on these sectors?
Vincent Irlweck: For instance, in healthcare, Inery can be instrumental in giving patients control over their data, tracking and tracing drugs to avoid counterfeit activities, providing a single point-of-truth to shareholders, and ensuring data interoperability between different healthcare verticals. In addition, the solution provides e-commerce with a way to manage assets–credential management and asset tracking, for instance, and access data with complete control, transparency, and security.
Enterprises and governments may also deploy their applications on top of the Inery blockchain. Inery equips financial institutions with a modern and mature database infrastructure to enable communication and data sharing across departments, while maintaining high performance and low transaction costs. These financial institutions can also leverage the infrastructure for issuing and managing assets, secure data management, and document access, control, and tracking.
Q2.As a decentralized database management platform, how does INERY ensure that the data it manages is completely secure? How do you ensure that the data provided to the oracle is correct and accurate? What are the supporting factors?
Vincent Irlweck: Inery’s SDPOS (Self Delegated Proof of Stake)consensus mechanism ensures that it becomes expensive for anyone to attack the network with a Sybil attack. The inherent design ensures defense against Sybil attacks through a high amount of staking requirements of Inery’s consensus algorithm.
Q4.We are currently in a BEAR MARKET and we have seen majority projects dumping hard in the downtrend! Even great projects are tending to fail and hardly surviving. In such situations, what is your strategy and plan to convince us that will able to outperform in such a bear market?
Vincent Irlweck: I believe that the overall blockchain space will see a significant increase in the coming years along with the rise in huge institutional investors with increased exposure to the crypto space. This will eventually stabilize the crypto market. In my opinion, we have very interesting years to come ahead as the industry is growing rapidly. Even though things are rather slow now due to the bear market, good projects will rise up in these kinds of times.
We have build and Inery has thrived under bear market. And we have always focused on development rather than the changing tides and the market cycles.
And last I would like to say that in the bull market, everyone wants to jump on the running train but that is when most of the mistakes happen. This is the right time to invest in good projects with appropriate due diligence to gain sustainable profits.
Crypto King: Alrighty, let’s open for Community Round.
Telegram Q & A Round
Q1.Can you tell us about your team members? are they qualified and professional in their fields? what are the recruiting qualifications for team members for your extraordinary project??
Vincent Irlweck :So the mastermind behind the project are Dr. Naveen Singh and Ivan Vujic. Dr. Naveen started his career as an Olympic wrestler. He has represented India and Switzerland at international level wrestling competitions. While serving first for the Indian team and later on for Switzerland, he achieved several National medals. He has been in the technology space with my startup in Telecommunications in 2008-2009. Over the years, his company engaged with various database management solutions. This forced him to understand the dynamics of data and how data is hoarded so its value stays latent and wasted. One of the technologies that repeatedly came up while trying to find a solution for unleashing the true value of data was blockchain. So around 2015, Dr. Naveen started to closely follow the different blockchain solutions and their efforts to decentralize data. And during this study, he identified a potential drawback. While many blockchain solutions were trying to distribute data, it ultimately pointed to a certain degree of centralized control in how data is stored and managed. He found that no solutions were truly decentralized. And so in 2018, he, along with Ivan, came up with Inery with the mission to initiate a paradigm shift for data.
And Ivan, who is also the CTO of Inery has over 15 years of experience in the IT and blockchain fields. He lead his team to develop several IT projects from scratch like centralised crypto exchange, peer to peer communication App, Healthtech big data mining ecosystem etc. He has also served as a business advisor for digital assets and IT field on various companies advisory board in Germany and Switzerland.
And then ofcourse we have Simon Murray who has recently joined as the chairman. And let me share with you guys his profile real quick:
Simon Murray, well known for his leading roles in some of the most established companies worldwide, including but not limited to the Chairman of Worlds largest commodity company Glencore in Switzerland, Executive Chairman of Deutsche bank group Asia, Group Managing director of Hutchison Whampoa LTD, Founder of Orange mobile company and Distacom telecom, serves as the Chairman of Inery.
He served as an advisor and/or on the board of Vodafone, Tommy Hilfiger Corporation, Hermes, Vivendi Universal, Macquarie bank, N.M. Rothschild, General Electric USA, China National Oil Corporation(CNOOC) and many more.
Simon Murray has been awarded the Order of British Empire (CBE) by H.M. The Queen and the Order of Merit of the French Republic
Wikipedia: https://en.wikipedia.org/wiki/Simon_Murray_(businessman)
Q2.Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relatiionships?
Vincent Irlweck :So we have been doing a bunch of things. One, we have leading industry people on the board of Inery. We have David Munro Anderson, Inery’s financial advisor who is a pioneer of the futures contract trading industry, and Bally Singh, Inery’s marketing advisor who is the CMO of the Metaverse Avatar platform Metahero and Everdome.
Recently, Simon Murray who is the Ex-chairman of Glencore, ex-head of Deutsche Bank in Asia and the founder of the famous telecom company Orange has joined as the Chairman for Inery.
We have also announced our partnership with some global investors like BEl (Bharat Eletronics) India Goverment owned Company, Menas Global, one of the leading investment firms in the MENA region and Cap Lion Point, an investment bank with a target focus on Asia and Africa. In the near future, we will also be announcing some more partnerships that will bring more value to the project.
Q3.What are the competitive advantages of your project? What advantages do you have over competitors? What would be your project secure most similar contender in the market today in terms of scalability, security, features, and adaptability?
Vincent Irlweck :Sure, so like I highlighted before, Inery offers Language support and multiple libraries. Inery is mainly built on C++ code to enable the integration of multiple libraries and make the development process seamless. IneryDB offers libraries for database integration in the most popular programming language including Python, Php, Nodejs, C#. Developers can find the necessary functions and structures for integrating the blockchain database.
And also, it is Optimized for database management functions. Most protocols that exist in the market today are limited to ease of useability and graphic interface. Inery goes a step beyond by integrating query capabilities and CRUD functions on a decentralized ecosystem – a functionality that has never been introduced in projects before.
Crypto King: Awesome Thanks for your time Vincent , Great to have you here for the AMA🚀, All the best for your project.
Thank again for joining us today and informing the community about your project.
