At 8pm on December 27, 2019, the VBC community had the opportunity to interact with KardiaChain, the guest representative was Mr. Pham Minh Tri — CEO of the project.
Mr. Pham Minh Tri is a founder and consultant for Tech Startup in London with over 10 years of start-up experience in various fields such as mobile applications, finance and services, focusing on bringing disruptive technology to the masses. He has extensive experience in research and application of new technologies, as well as in mobilizing and managing funding for businesses, a recipient of the Entrepreneurship Grant Award from Santander.
Here are some typical questions that the community has raised:
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Part 1: Previously asked questions (before AMA)
Question 1: I used to be a user to experience KardiaChain’s Archi 1.0 testnet. Not to mention the minor bugs that are about to be improved in Testnet Archi 2.0, KardiaChain has surprisingly fast transaction processing speed and is almost instant after sending test tokens. That is the demonstration of Scalability that KardiaChain mentioned in its feature. So, can the KardiaChain team tell me more about another feature: Interoperability including NEO — ETH — TRX how does it work on the Archi testnet? Is the KardiaChain team confident that the project’s cross-chain interoperability platform will be an essential solution in the blockchain industry for DeFi — one of the prominent areas in 2019 and perhaps many years later?
“These 3 are the leading public blockchain projects that support smart contracts and have growing DApp communities. The main strengths of KardiaChain are non-invasive interoperability and multi-chain smart contract deployment.
The first reason why we chose NEO-ETH-TRX is because our non-invasive technology would allow any DApp on any blockchain to perform cross-chain communication with each other regardless of their protocol. Hence, our technology is capable of unifying the whole blockchain ecosystem in an efficient manner, as any participating blockchains are not required to adhere to any protocols or sets of rules to perform cross-chain communication with other blockchains on the network, enabling for real blockchain mass adoption to take place.
Second, Kardia Smart Markup Language (KSML) is the second reason we opted for these 3 leading projects. KSML is the ultimate tool for DApp developers to deploy multi-chain smart contracts by writing the code only once using KSML. The code is then automatically translated to other smart contract languages like Solidity, Java, C++.”
Question 2: Kardiachain’s idea is quite new with very few projects in the same field being able to implement. Therefore, Kardiachain faces many challenges and takes a long time to develop. Is this a difficult point for Kardiachian?
Ever since our project started over 20 months ago, we have faced many different challenges. Our entire team both developers and business development works restlessly round the clock to not only address current challenges but also, to innovate.
One of the biggest challenges for us and the whole blockchain space is blockchain adoption, because the technology is still very young.
Regarding this challenge, we are very satisfied with our progress. KardiaChain is continuously gaining new large-scale, real world use cases. Our partners include top enterprises and government bodies. For example, right now we are working with ON Sports to decentralise their mobile phone application, which has a user base of 150,000 people. Users will be able to utilise KAI tokens to make prediction games, player donations and more.
New technology always takes time to prove. Thank you for your interest and support.
Question 3: After reading the overview as well as the roadmap of KardiaChain, I feel that the process as well as the ability to perform requires technical knowledge in this field quite a lot, whether human resources is enough to attend and enable the project to run on schedule for the most perfect product and is most positively accpected by both Vietnam and other countries in the world?
This is a big question for all technology projects in general 🙂 especially new technologies that need a lot of R&D resources.
Fortunate for us, our core developer team consists of senior Google engineers, Our CTO — Huy Nguyen is a level 7 Google engineer, he has several patents under his name, he has also led the Google Fiber project.
We are constantly proactively recruit talented developers to continuously improve our technology. Believing that Vietnamese market possess a highly qualified human resource and leading software developers even when compared to the world, this is one of the foundations that KardiaChain relies on for development of technology and its applications.
There will be many new projects in plan and development process, we are also seeking resources for both technology and business side.
Question 4: What are the core features that create the value of TestnetArchi2.0? Can you say some highlights from them? What are the true values of TestnetArchi2.0 to the community?
What lessons have you learned from TestnetArchi2.0 and earlier versions? Does this help Kardiachain improve? Can you share briefly with the community?
The main highlight of testnet 2.0 is the newly added smart contract feature, users are now able to deploy smart contracts on KardiaChain. Additionally, we have fixed numerous bugs as well as improved UI. For the full testnet update please check out this LINK. (https://medium.com/kardiachain/kardiachains-archi-2-0-testnet-is-live-along-with-a-major-blockchain-use-case- 2f2b9fe8098f).
The first Dapp this is already soft launched on Archi Testnet 2.0 is Prediction games on blockchain for ON Sports. ON Sports is an existing news and sport streaming app by VTVCab Sport — subsidiary of the largest national TV channel in Vietnam. ON Sports chose us as the blockchain platform for the current 150,000 users to offer new features such as polling reward on blockchain, tokens donation for football players and prediction games on blockchain for millions of football fans in Vietnam.
The real value that Archi Testnet 2.0 brings not only to the community but to the blockchain space as a whole is the fact that with this real world use case we are showcasing the fact that enterprises are willing to adapt blockchain technology and that there is a real demand for this technology.
Many more applications will be released by partners. Please stay tuned everyone.
Question 5: There are many blockchain start-up projects in Vietnam, through raising capital like Shark Tank, but it seems that the interest of investors in this field is very little, so for Kardiachain, what opportunities are there for blockchain startups?
Shark Tank also cannot represent investors’ interest in blockchain to a certain extent. This platform has been and will be based on the strength of the community 🙂
We at KardiaChain take a different approach to development and blockchain mass adoption. Instead of developing a solution that addresses a certain problem from scratch, we instead leverage our business acumen to partner with top enterprises and governments to decentralise their existing systems. This gives us access to existing large user bases and by decentralising these existing systems, we are able to seamlessly bring these users on blockchain without them even noticing. By doing so, we also spend much less time and costs on educating the market and customer acquisition. This strategy combined with our unique non-invasive interoperability technology gives KardiaChain unique blockchain mass adoption capabilities.
Therefore, if there is a leading unit that helps to penetrate blockchain technology into life like KardiaChain, the community outside of blockchain will receive a large number of people accepting blockchain as daily life technology, thus paving the way for a completely new perspective of traditional investors.. The blockchain start-up ecosystem in not only Vietnam, but Asia and global scale will be set to thrive.
Question 6: Deploying and interacting with smart contracts on Testnet Archi 2.0 enabled by Kardia Virtual Machine (KVM) will be a preparation step for the release of Kardia Smart Contract Language System (KSML) — One of KardiaChain’s unique and innovative technologies. So, in order to deploy a multi-chain smart contract on test net, what programming skills do users need? Why is KardiaChain insisting that KSML is designed to be the optimal tool for developers to deploy multi-chain smart contracts without requiring previous in-depth knowledge or experience?
On the occasion of this question is also regarding KardiaChain’s testnet 2.0 in terms of technical improvements, we reaffirm that users can now deploy smart contracts on testnet, enabled by the Kardia Virtual Machine (KVM). One of the main goals of the KVM release on Archi 2.0 is to prepare for the release of the Kardia Smart Contract Language System (KSML).
KSML is one of KardiaChain’s unique and innovative technologies, developers will only need to write smart contracts once, then they will be translated into byte code and into other smart contract languages (Solidity, Java, C ++).
Question 7: I read the Kardiachain whitepaper saying “KardiaChain’s technology is widely used by government and business”. But cryptocurrencies in Vietnam are still not completely legal and some countries see cryptocurrencies as not legal. Does this have an effect on Kardiachain? If so, are there any remedies? Have any really big partners used your products and what would you like to send to everyone through the AMA held at VBC today?
This is a great question that I am very glad to answer. A very common misconception is that cryptocurrency = blockchain. However, this is far from true. I myself and the project government advisers have also tried to communicate this when working with government departments. Clarifying the concept of blockchain, tokens, digital currencies, cryptocurrencies is very important. KardiaChain is an open blockchain platform with KAI token as the system’s fuel source, assisting in ensuring the security of the blockchain platform, paying the cost of using the platform and applications on KardiaChain.
We are well aware of the legal system and proposed frameworks for blockchain application in Vietnam. Specifically, KardiaChain is one of the projects participating in the Dialogue on blockchain-based application legal framework, held by the Ministry of Justice in October (you can see here https://t.me/kardiachainofficial/14), right here I presented my presentation and made practical suggestions for the KardiaChain blockchain application, as well as receive comments from ministries about this technology.
When it comes to the big partnership, we are currently working with many businesses and government agencies, such as VTVCab Sports, Vietnam Football Federation, Vietfootball … the application of tokens to businesses. can help change the business model, increase users, increase engagement and revenue. Please wait and try it out.
Question 8: Hi KardiaChain team. It is undeniable that the current status of Vietnamese projects is of very little success, without leaving a lot of imprints and scams, which makes the confidence of investors in Vietnam as well as international become wobbly and often don’t take projects seriously in Vietnam. What are your strategies for raising awareness and eliminating the skepticism of investors, partners, and customers? Why should we trust and follow Kardiachain in the long run and not a “one to two day” project?
The question is very legitimate in the current market context. Thank you
In addition to the points about the team as well as the technology that you can easily learn about KardiaChain, the short answer here is the practical application of KAI token.
By cooperating with both private and public entities, KardiaChain confidently introduces the application of KAI token into products and services in daily life.
In 2020, you will see a lots on the media. The point I always want in blockchain as well as crypto, is that the user who uses them doesn’t need to know the underlying technology, but simply enjoy the benefits it brings.
Question 9: As a leading project in Vietnam, what does KardiaChain feel the opportunities and challenges in connecting not only businesses in the industry but also narrowing the gap between blockchain technology, transmission enterprises system and public sector?
One of the great opportunities for blockchain technology in Vietnam is that the government and leading corporations in many fields are actively promoting the development of industry 4.0. KardiaChain believes that blockchain technology will become one of the key technologies in the coming decades.
KardiaChain is providing advanced blockchain application solutions, solving problems in security, operating costs, productivity or the ability to share information between businesses and governments through products such as
*Public-Private blockchain Platform* also known as a Public-private blockchain hybrid platform: KardiaChain with Dual Node technology can connect any blockchain from public to private, increasing flexibility and ease of application for traditional businesses. Allowing data to be stored securely on a private blockchain platform under the complete management of the enterprise, at the same time providing the ability to bring the information that needs to be exposed to users on the public blockchain system. This is still an area that needs much attention next year. Thanks for your interest.
Question 10: On the KARDIACHAIN website, you are cooperating with the Vietnam Football Federation (VFF) and Vietfootball to digitize the data of players, planning to apply blockchain in donations and prediction games. So is this system useful for Vietnamese football and do you consider the plan to be used by the bad guys to bet illegally?
Currently, blockchain can help reduce VFF’s paperwork and management work by storing together in a ledger the information that needs to be cross-checked on players, clubs, matches, punishment cards, goals. etc.
In addition, it also brings revenue to the players, the club and the league in a transparent way through image copyright management in games, for example, Fantasy football game — next year maybe Vietnam will be able to have the Vietnamese version.
As for betting, one should note the distinction between prize-winning programming and sports betting. Although betting is not official in Vietnam, there have been legal documents guiding. I also personally know one organization holding a pilot license of this type.
This is a very welcome direction in the spirit of “recognition for management” instead of banning all the things you cannot control.
There will be more interesting information involved, I will share more when the situation allows.
Question 11: Like other projects I know, they are prepared to sell ICO, IEO, … to list on the exchanges. After listing successfully, the time they start to produce products, testnet, mainet, …
Kadiachain is different, the project quietly works day and night, constantly updating, upgrading, testnet, … a lot. But there is no information on how the KAI token will be sold, information listing the exchange.
Why is that? Is KardiChain cherishing the opportunity or is this a project-specific strategy?
Raising funds before project implementation is a relatively common form, especially new technologies such as blockchain, because it takes time to research and develop, and it is completely possible to fail.
For KardiaChain, the founding team has calculated very carefully when starting the project, with personal capital and support of relatives, we want to build a real product, a token that can be used. Indeed, instead of listing for everyone to buy and sell.
It can be said that KardiaChain has finished nurturing the ecosystem. By 2020, regular users can also buy KAI by phone 🙂
And of course, after buying it, they can use it for gaming, football predictions, travel vouchers etc.
Question 12: In a positive view, the development of Dapps on KardiaChain platform will bring great benefits for both sides: reducing time, effort, cost for developers; expand the ability of influence and applicability to the platform. On the negative side, however, the incentive to build Dapps can be a double-edged sword when many of the current Dapps are useless, do not have real users, do not work effectively. So, in order to prevent such DApps from appearing and become a burden to the platform, what are the ways KardiaChain team will have? Does KardiaChain consider building DApps on Archnet 2.0 testnet to prepare a solution for this on the mainnet?
Also, the sport prediction feature on the blockchain platform will be integrated into Archi 2.0 testnet KardiaChain. This is a practical application to reach ordinary users when football is considered the current king sport. So, how many users, teams and seasons does this feature of Kardia currently reach? With the launch of this feature, what does KardiaChain want to bring to the development of the KardiaChain ecosystem, to building a community that supports the project and to reach mass users of a blockchain project?
The fact that KardiaChain already has an ONSport Dapp running on KardiaChain testnet 2.0. Users can experience the new features in the testnet Archi 2.0, along with that, the first practical application to reach ordinary users will be integrated in this testnet version, which is the sport prediction feature on the blockchain platform. Vietfootball, the largest semi-professional football community in Vietnam, has partnered with KardiaChain to build and launch KardiaChain’s testnet-based sports prediction platform. Currently, users can make their predictions for the most impressive goal or player of the HPL Premier League football tournament hosted by Vietfootball.
Not only receiving support from Vietfootball, the HPL tournament is also being broadcast on VTVCab’s ON Sports — a platform providing sports content with a large number of users in Vietnam with about 150,000 users. ON Sports, with more than 650,000 members on Facebook, has contributed significantly to the number of users participating in predictions every week. After total 11 rounds of the HPL tournament, more than 3,000 users made predictions on the KardiaChain testnet.
Question 13: Who is the main partner of KARDIACHAIN? Have they had any positive effects on KARDIACHAIN? What is the 2020 plan and does KARDIACHAIN intend to expand the ecosystem?
The main partner of KardiaChain is the service providers (VTVCab, ON Sports, Creatory,… (will reveal more)
They have in common a large number of users, good products and services. So when they apply blockchain and tokenization, they will get good benefits. KardiaChain innovation is changing both the business and technology models of our partners because of the KardiaChain platform benefits:
- Increase user interaction
- Increase user retention rate
- Increase sales
- Create new business cooperation opportunities
For example, users are encouraged to interact with reward tokens, spam less when commenting or voting which must consume tokens.
The model for KAI token in each case will be modified to fit the applicable unit.
We are ready with the 2020 Grand Plan. We can’t wait to share with the community when the new year comes.
Question 14: In the future, what is the main goal of KARDIACHAIN? What does KARDIACHAIN do to increase the value of the network? What are your views on the future of smart cities, online cities?
As noted, KardiaChain is a public blockchain platform focusing on interoperability and providing solutions / infrastructure for businesses — the Vietnamese government and other countries in South and East Asia.
Building blockchain infrastructure is extremely important and essential, similar to real-estate corporations planning roads and bridges.
To add value to the network and KAI token, our orientation is very clear. Reduce total supply, increase applicability (many products and services use KAI) and increase users.
Regarding the future of smart cities, the use of tokens to encourage and manage the city’s entire network is inevitable.
For example, when you install an air quality meter, you will be rewarded with a token for contributing data to the whole city. Conversely, tokens can be used to access other information.
This is a fairly long and interesting topic, also related to the secret projects of KardiaChain. I’ll see you next time.
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Part 2: Freely asked questions (During AMA)
Question 15: Can I earn free KAI tokens?
There will be many airdrop activities coming up. The easiest is to use the ON Sports app to receive KAI.
Question 16: KardiaChain has cooperated with the Vietnam Football Federation (VFF) and VietFootball to build a Dapp for football fans and football players. In this application, you have introduced a football / coin point to encourage the community. Coins can be used to rate, review, buy merchandise, give to players, etc. So what is your marketing strategy to build a reliable blockchain ecosystem for users and long-term investors?
Continually increasing KAI products and services, actively expanding to different segments, such as football fans, music fans, gaming fans, livestream communities. The goal is to cover 80% of Vietnam’s population in the shortest possible time.
Question 17: As far as I know KardiaChain focuses on developing the Korean market. So why did KardiaChain choose Korea and not China? Thank you sincerely!
This market is quite similar to Vietnam in the next 10–20 years. Korean people’s culture and way of thinking are very similar (even more than China). In addition, they enjoy watching Vietnamese football, an advantage to win the hearts of Korean investors.
Question 18: What are the great achievements that Kardiachain has achieved so far? What dramatically and risks did you encounter during project implementation and what factors helped motivate you to overcome increasingly?
Our greatest achievements so far is to bring blockchain to over 200k users in non-crypto world. What keeps us going is the vision of building the blockchain infra for the whole population of Vietnam.
Question 19: In your opinion, what is the best value that KardiaChain brings to investors as well as users? What are the projects that KardianChain wants to cooperate in the future?
It is the practical and widespread applicability of KAI token. The partners we would like to work with are the service providers with a large set of users, bringing value to the community.
Question 20: As I know KardiaChain has a good relationship with the government, especially having a Vice Minister and a former Minister in the advisory board. So in the future, KardiaChain will collaborate with other government departments on health, school and recruitment?
Currently KardiaChain has been researching with a number of ministries and agencies to apply blockchain. We are also advising the government on tokenization in Vietnam.
Question 21: How can the Vietnamese blockchain community benefit from the project?
We bring non-crypto people to crypto, expanding the market for blockchain projects in general.
Question 22: How does Kardiachian appreciate the importance of the community? In addition to organizing community-based AMA sessions, what is Kardiachian’s marketing strategy to attract more users?
Community is the most important factor for KardiaChain. Currently we are going through partners to reach as many users as possible. For the crypto community, AMAs, and conferences and games in KardiaChain apps will be some of the ways I choose to reach users.
Question 23: Tell me 3 reasons why choose KardiaChain? What role does the KAI token play in the KardiaChain ecosystem?
Token is used in many applications, a large number of users from both the non-crypto community, technology applied by businesses and governments. KAI tokens are used to pay for transactions, to secure networks, and to guarantee other activities.
Question 24: Is Kardia recruiting employees?
Still looking for talented people.
Question 25: In the future when countries start accepting Blockchain technologies, which way will KardiaChain develop? Is that a great opportunity for KardiaChain to grow?
KardiaChain focuses first on the home market, then spreads to neighboring areas. We have now started a technology cooperation with two major blockchain units in Korea, Coinplug (Busan) and LG.
Question 26: Cryptocurrency is not recognized by the law in Vietnam. How are you going to overcome legal issues?
KAI tokens are not cryptocurrencies. We are in contact with the Ministry of Justice and have made a presentation on the issue of tokenization in Vietnam.
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Part 3: Quiz
AMA VBC Testnet 2 QUIZ
Q1. What is the most correct answer for the KardiaChain’s approach “Integration without assimilation” to connect blockchain? (fill in the blank)
Have Dual Node to connect multiple blockchains without requiring them to change any of their protocol: …….. in cross-chain technology’s approach
Answer accepted: non-invasive
Q2. Users are now able to deploy smart contracts on the testnet, enabled by Kardia Virtual Machine (KVM). The KVM is one of the main purposes of releasing the KVM on Archi 2.0 to prepare for the release of … (4 words) (abbreviation is KSML)
Answer accepted: Kardia Smart Contract Markup Language
Q3. Which are the functions that KardiaChain’s testnet Archi 2.0 has? (Fill in the blank)
Smart contract interaction, Public testnet with bug-fixing, UI/UX maximizing, transaction history and single address instantly searched, … games on ONsports application
Answer accepted: prediction
Q4. Which are the sites that you can join Sports prediction game built on KardiaChain Testnet “Archi” 2.0 (partner’s site as well as project’s site)? (Fill in the blank)
Vietfootball (vietfootball.vn/voting), Onsports.kardiachain.io, and …
Answer accepted: Mobile App ON Sports
Q5. What is the KardiaChain Football Club’s name? (Can answer by text or Facebook fanpage link)
Answer accepted: Kardiachain Saigon Futsal Club
SEE MORE ON VIETNAMESE VERSION HERE