Sep 5, 2020
AMA Coin98 Recap: English version
We’ve recently conducted an AMA in Coin98 Trading Desk, one of the most vibrant Crypto Communities. The AMA was held with Mr. Johnny Tri Dung — CBO at KardiaChain and Mr. Tri Pham — CEO and Co-Founder at KardiaChain, and moderated by the host, Jane Luis.
The AMA session took place over the community on Telegram where Johnny and Tri discussed several exciting facts about KardiaChain, especially the technology behind KardiaChain and the role Kardia is playing to develop scalable products of decentralized applications while maintaining security, with the help of Vietnamese governments and local businesses.
Some of the questions, answers, responses and sequences may have been edited or modified for clarity and readability.
We present the Recap:
Jane — Let’s welcome our AMA guests tonight @JohnnyTriDung — CBO at KardiaChain and @triminhph — CEO and Co-Founder at KardiaChain.
Tri — Hi Jane, hi everyone. Thanks for having me today.
Johnny — Hi all, thanks for introducing and having us tonight, it’s me Johnny from KardiaChain.
Q1: It’s great for me to host this AMA with you. KardiaChain is quite popular in the Crypto Community. But for those who might not know about you, could you introduce a bit about Kardiachain?
Tri — Definitely, Jane. KardiaChain is a public blockchain platform focused on Interoperability and providing hybrid blockchain solutions for enterprises and governments.
We have been building KardiaChain since early 2018 with 2 groups of members: business from London and tech Silicon Valley.
We started the relocation back to Vietnam after the event with the Minister of Justice in Sep 2018. That’s when I realised there are a lot of opportunities here in Vietnam as the government is quite supportive.
We are working with major services providers (enterprises and government) to decentralise their existing solutions. Our approach helps KardiaChain reach millions of users without the immense cost of educating the market.
Our Dual Node technology allows cross-chain communications between any public and/or private blockchain regardless of protocol. This provides easy-to-adopt solutions for institutional clients.
Jane — Very interesting!
Tri — Our main goal will be gaining more users for multiple products and services we have been building with our partners over the last year.
Q2: I see it’s quite hard to approach the government when it comes to crypto and blockchain. So How involved is KardiaChain with the government?
Johnny — Sure, let me cover this one.
KardiaChain works closely with the Vietnamese government. We have active and former government officials in our advisor board. We work with several government bodies on applying blockchain to existing and new. We are involved in multiple discussions with the government on blockchain/token/crypto policies and legal frameworks in Vietnam
We have Government officials as our advisors such as Dr. Manh Rinh Vu — Former Communist Party Chief Of Thai Binh Province and our latest advisor Vuong Duy Bien — Former Deputy Minister of Culture, Sports and Tourism.
Our projects with the government ranges from experimental to production level:
1. The Youth Union is piloting their app in Ho Chi Minh city. The app is powered by KardiaChain with KAI tokens integrated. The Youth Union is expecting to have more than 50,000 members in the first phrase. We have an experiment in Da Nang using our blockchain technology to store student academic records.
2. Vietnamese National TV (VTVCab) is a State-owned TV channel, who are using KardiaChain tech to tokenize their ON Sports mobile app.
3. Vietnam Football Federation (VFF) — Official Organisation for Pro Football players. We help them blockchainize data of players, clubs and matches as well as monetize it. We are involved a lot on the government side as well to make sure we are updated with new policies and somehow contribute to the process. Most recently we were giving a speech about blockchain and cryptocurrency to the Vietnam Deputy Minister of Justice.
Q3: I’ve seen that you have implemented a solution for a taxi platform in Vietnam. How can Blockchain technology improve the taxi platform? What are the new things you brought?
Johnny — Thanks for your awesome question about our partnership with Mai Linh. Let me cover this one.
We at Kardiachain, with the collaboration of our growing list of partners, are placing ourselves at the forefront of Vietnam’s acceleration towards a cashless society. Green Card is our Mai Linh’s most recent take on digital transformation.
The Mai Linh company is one of the biggest players in a competitive taxi industry in Vietnam. Our partnership with them benefits both of us. From our perspective, it will accelerate our vision to a wider user base and create more business usability for Kai holders.
From their perspective, our innovative tech will help the company to offer a more optimized payment experience to their riders.
For full details, you guys can go to this link to read more
Q4: Can the KardiaChain team introduce me to another function in detail: How does interoperability such as NEO-ETH-TRX work? We also know that recently Kardiachain is launching a great DEX and entering DeFi, can you shed some light on it?
Tri — We achieve interoperability by using our own invention called the dual node.
In summary, Dual Node is a bilingual translator who can speak both Kardiachain protocol and another one e.g. ETH, TRX, NEO, etc.
A KAI-ETH node can translate what happened in Ethereum to Kardiachain, and a KAI-NEO node can translate what happened in Neo to Kardiachain, thus allowing communications between NEO-ETH.
We are working with several partners who are interested in DeFi. Hopefully we can bring benefits to both crypto and non-crypto users in near future.
Segment 2: Live Chat — Community Q&A
Q1: Which area is #KardiaChain focusing on at the moment? (DeFi, Stake,Dapps..) and your goals for this year ?
Johnny — Thanks @NIco BEN, one of our key strategies in 2020–2021 is to have a mass adoption product which is coming soon next month (October 2020) which will make people install and use this Dapp without even realizing the blockchain technology behind it.
Through this, people can achieve KAI by joining activities, and later use other utilities to enjoy more benefits from being a KAI User/ Holder.
Q2: Defi is a very hot keyword at the moment, many projects have started cooperating with DeFi platforms. Is Kai planning to cooperate with DeFi projects and develop Kai towards DeFi in the future?
Tri — DeFi in my opinion should be complementary to the current financial system. Our approach is still the same: working with major service providers, in this case, there are several partners that we found would benefit from DeFi.
The current situation in the financial market is too much cash in the bank and lack of feasible projects to invest. The bank is pressured by interest payment meanwhile SME or Startup cannot get funding. Some of our next products will try to tackle this problem by offering investment opportunities for both retail customers and businesses.
Q3: As we know Scalability is a major problem in most Blockchains & Dapps. So, how the Kardiachain project solves the Scalability problems and allows Dapps to scale?
Johnny — Thanks for your great questions, let me cover this.
As you all might know blockchain technology will take some time for normal users to understand and believe in using it.
At KardiaChain, we believe in our vision that Users should just enjoy our Dapp as other normal apps in the market without having to understand deeply about the technology, like we are using electricity in our normal daily life.
That’s why we decided to make it fun and enjoyable by downloading our future Dapp coming in October 2020, and earn benefits from doing some simple actions, rather than making it a complex solution from the beginning.
Q4: The Vietnamese government is yet to have regulation for crypto currency. Why do they allow you to work and promote Kardiachain strongly in Vietnam?
Tri — KAI is a utility token and it’s possible to convert into some products or services such as evoucher and mobile data top up. Basically there is no rule for KAI to pass at the moment regarding the services we offer. We are even in talks with several payment companies and banks to help utilise KAI in microlending products, which sounds very sensitive yet feasible.
Q5: “MARKETING” is the GREATEST STRATEGY for a PROJECT SUCCESS, one of the marketing strategies is “BUILDING A STRONG and BIG COMMUNITY”
What are your Strategies in building a strong and big Community?
What countries does your GREAT PROJECT focus or target right now?
Johnny — Thanks Selena. Let me cover this one.
As I have experience in doing growth hacking in scaled platforms such as Youtube/ Facebook/ Tiki … At KardiaChain, not just me but we believe a GOOD PRODUCT with a STRONG GROWTH MARKETING combining both BRANDING/ ACQUISITION channels together to RELEVANT AUDIENCE will make a big impact.
For example from my previous startup named BIG CAT, we did built Ghien Mi Go/ La La School from Day 0, not to mention FAPTV (the biggest Youtube channels in VN right now, is under our family since 2015–2017) with a minimal marketing cost and great contents delivered to the right audience at the right time.
With our upcoming exciting Dapp this October, one of our key ACQUISITION channels is through referral, as you can refer your friends to download KAI Dapp and earn extra KAI rewards by shipping this happiness to your circle of friends.
Q6: Can you explain in more detail the system of lending in KardiaChain ? What kind of investor or consumers are you looking for?
Tri — As far as we are exploring the options with partners, KAI can be used as collateral for microlending. The ratio is still in discussion and will vary by different providers. The general idea is that holding KAI will increase your credit score, extend your credit limit.
Q7: Most users only care about immediate benefits rather than the real long-term value of the project. How can KardiaChain convince users to invest in your platform in the long-term?
Johnny — As we believe in long term value, yet we understand that we have to have the support of at least 1,4m users/ believers in H2 2021. This is why we have divided our marketing strategy + Dapp into 2 clear funnels: Acquisitions Dapp, and Retention/ Long term Dapp.
With this strategy, we can convert those acquired users in Acquisition Dapp to real believers/ holders in our Retention Dapp.
For example: we can have a simple gamification Dapp with the theme of Play and Earn and converting those users from the Acquisition Dapp to other Lock and Earn features to retain them.
Q8: What is your strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally? What services do you provide to the community?
Johnny — Thanks Paula for your excellent questions.
We do believe in growing both users and our believers in community, not just short term but long term ones. To do this, we are building and rolling out our upcoming program for the beloved KAI community such as:
- Ambassador Program for each region/ relevant communities globally.
- Lock and Earn Program that is tailored to each region.
- Other Premium Features that a certain members of our community can acquire by actively contributed while in the community.
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