AMA with Co-Founders 10th March 2023 RECAP
GREETINGS
Thien — Hi Kardians! The AMA will begin in 3 minutes. We will be muting the chat for all members in 3 minutes, then it will be opened for everyone during the live Q&A, which will be the last part of the AMA.
Thanks and see you in a bit!
Thien — Good evening from our side of the world, Kardians!
Welcome to our 1st AMA of 2023 to catch up and share with you the updates from us.
I am Thien will be hosting today’s AMA.
Joining me today is Mr. Huy Nguyen and Mr. Tri Pham KardiaChain’s Co-founder & CEO.
Mr. Huy — Thank you Host for the introduction and thank you all for taking the time to attend this AMA. How about we start a brief intro for everyone, and give everyone the recap of what is new after our last AMA ?
After the last AMA, we said our goal was to moonshot and acquire 100,000 more users for KardiaChain. Eventually, after Q4 2022, we reached as many as ~65,000, 65% of what we aimed for. While the hard result is not 100% as intended, we are still very proud of what we have accomplished, and how the team has worked tremendously hard to seal multiple significant partnerships and clients benefiting our future development
The most notable partners and paying clients on top of my mind are: Cốc Cốc — the national web browser in Vietnam, The MunchLab — Our 1st client in Philippines, Telesign-the world’s leading digital identity and communication. Now, moving forward, we are very confident at the new direction to make it work even better in 2023, after going through a significant amount of experience and lessons
As of today, I am also glad that Mr. Tri, my friend and co-founder of KardiaChain, is also by my side in this AMA. He will explain to everyone in more detail about our progress so far, the upcoming plan, and all things Kyokai related
Mr. Tri — Thank you, Huy. And hello everyone in KardiaChain community. Although I don’t often speak with you all or join many AMAs, I’ve always followed the community closely and knew very well how things were going while I’m mainly focusing on the development of KardiaChain in all aspects.
From my point of view, true blockchain mass adoption is not just about infrastructure or about creating a blockchain layer. It’s about touching all the layers that can be connected as a unified unit comprised of multiple layers and functions. This is not just something I thought about just in 2022; even back in 2019, we were scouting for opportunities and experimenting to see how blockchain can be practically applied in daily life. After the testing phase, we knew that collaborating with partners and finding alignment with the government/ lawmakers were absolutely must-do on our to-do list.
Finding that common ground with everyone takes time and effort, but we manage it.
Today I’m bringing the good news that we finally figured out how to communicate our technology and deliver the right messages to our 3 main segments: The General Public, The Government, and Businesses. And I can share more details with you in the coming days.
Thien — Thanks for that Mr. Tri!
Today’s AMA will come in two parts:
We’ll answer a few questions submitted from our community.
We’ll be opening the chat for a live Q&A. We’ll try to answer as many questions as possible, so please use this time to ask or raise any concern you may have.
Let’s begin!
AMA
Thien — To start things off, we have received many questions from the community, some revolve around the same topic. So we have accumulated them into 5 main questions that should address most of the concerns from everyone.
Question 1
How did Kyokai happen, and how will Kyokai help with KardiaChain goal of mass adoption?
Mr. Tri — The Kyokai concept was incubated and first applied around the mid of 2022. Kyokai embodies our strong belief in a future of online-offline convergence when the physical and digital worlds exist simultaneously and enhance one another.
We saw the demand for a platform or a tool to make that future a reality, so we, along with our core partners, were laser-focused on creating applications fitting the 4 physical worlds aspects mentioned in the M.A.P letter.
As you may know, we’re working with our core partners, such as Raramuri to provide tools for runners to stream their activities onto a virtual space, live ranking, and interactions, or Ortho to produce both physical and digital fashion items, linked by NFT and NFC chip
We knew that there were times our commitments were put in question, why we were so quiet, or with little updates to the community. Apart from the building, R&D, and testing, etc., we also put time into finding new partners, presenting our ideas to particular sectors, while working tirelessly with the government. All those efforts seem irrelevant at first sight, but when put together, all converged into the creation of Kyokai — The bridge between two worlds- powered by KardiaChain
KardiaChain is the vital part of the plan, playing the infrastructure role. And Kyokai, KardiaChain V2, will be an evolution. Evolving from our original mission of interoperating between the chains, we now will bridge the verses, starting with the physical-digital boundary
In the coming days, The KardiaChain Whitepaper 2.0 will be introduced in Q2 2023
1. New roadmap, by end of March 2023
2. Kyokai White Paper, by 15th of April
3. New personnel structure for the ecosystem, by end of April
4. Release Marketing & Community plan, by end of April
Thien — Wow, I can say that the Whitepaper 2.0 is absolutely promising and worth waiting for!
For the next part, this is something the community has been raising a lot of questions, so let’s get to it.
Question 2
How will your relationship with Vietnam government look like from now?
Mr. Tri — Our relationship with the Vietnamese government is going really well, thanks to how we constantly deliver new technologies and solutions to the key areas aligned with the national digital transformation movement. Over the course of time, we have presented the M.A.P in front of The Minister of Information and Communications along with other government officials, and gained huge support from them. All are very excited with the idea of a truly digitized future, and we plan to be a crucial part of that future
At the moment, we have been discussing with several government departments in many provinces and cities like Đà Nẵng, Cần Thơ, Hồ Chí Minh City, Hậu Giang,…
All are very open about the possibilities of blockchain applications being used in their model. And last but not least, our products constantly get mentioned and promoted on many credible news sources in Vietnam, which you can find here:
https://thanhnien.vn/dua-hang-hoa-that-vao-the-gioi-metaverse-185230228105823072.html
Thien — It’s great to hear that the relationship between KardiaChain, Kyokai, the government and partners are only growing stronger.
Let’s move on with the next question:
Question 3
What is going on in Vietnam? Why is KardiaChain not part of VBA anymore?
Mr. Tri — I’m happy to be transparent about the situation with VBA, as I know this concerns many members
First, I need to clarify that VBA is not part of the government body; it is just an entity approved by the government, so VBA itself does not exercise any government power or authority, and does NOT represent the Vietnam government. The main functions of the VBA are
1) to manage their registered members (which KardiaChain no longer is) and
2) to communicate with the related ministries on issues regarding the member companies
We co-founded VBA with other groups to build an official communication channel between the government and the blockchain companies in Vietnam. And we always appreciate our time working with VBA and want to help VBA be the best means of communication between potential blockchain companies and the government
However, during our time in the VBA, while we have nothing against VBA as a whole, we certainly start having an ideology clash and conflict of interest with certain members. Namely:
1. They do not allow us to represent KardiaChain openly, which was partly why we could not openly mention KardiaChain in some of our activities affiliated with VBA. They also want to put KardiaChain under VBA, which we are extremely bothered with
2. Some of the founding members want to create a centralized control environment over crypto and blockchain for their own interest, which goes against the decentralized nature of blockchain that we believe in.
3. They have misalignments in technical directions with other associations, which we are a member of.
Our dismissal process from the VBA was done improperly, so we continue to fight and debate for our rights and what we believe. And we still have other means and channels to increase KardiaChain exposure, where we gain support in what we do and worry less about matters like this
Thien — That’s very detailed! Your perspective and insights are valuable, and hearing them can help bring clarity and understanding to the community.
Let’s move on to the next question:
Question 4
How is the progress going with the dual node technology? What will the user experience look like when there is a fully functioning product?
Mr. Huy — The Dual node has always been the technology we constantly build behind the scenes. Since the last AMA, I have mentioned that the dual-node technology is serving to bridge KardiaChain’s private and public chains, and it will continue to be the core technology for Kyokai
To make it simple, let’s think about the dual-node in the past. Five years ago, we had thought of dual-node as a technology to connect multiple blockchains. For now, dual-node technology will be more important than ever; it is the backbone to connect the physical world with the digital world, which could be built from multiple chains. By saying this, I mean we are introducing a new definition: it’s not only about bridging chains, it’s about bridging the verses
Kaisers, please wait for our upcoming Whitepaper 2.0 to explore more detail about the next-gen of dual-node technology
Thien — Surely! I believe that we all excited for the Whitepaper 2.0.
Question 5
What happened to all the old partnerships (Geleximco, Mai Linh, the big Telcom company, Fado, etc.)? And what kind of partnerships can we expect from Kardiachain in the future with different projects/platforms/protocols ?
Mr. Tri — To be short, most of the major partners are still working with us. Yet, due to the bear market condition, few partners left this space and no longer collaborated with us. Besides that, we have numerous senior partners and customers working hand in hand to build solutions as collaborating partners or paying clients, such as Fado, Mai Linh, Hưng Thịnh, etc.
On the Kyokai journey to merge the phy-gital world, we are open and willing to collaborate with every company with the same vision and aim to bring their products or services to the digital world. Here are some great industries to begin with: agriculture, fashion, manufacturing, luxury goods, education,etc
From now on, we wouldn’t focus on announcing news on partnerships like how we did before. Since we already have products, customers, and a new direction to follow, we want to focus more on the impact of products, services and the mass adoption of our technology. Having said that, we have already established some valuable business partnerships, and we are optimistic about forging new ones in the future. In the coming days, you should see soft launch announcements from our business partners
Thien — The community is really interested in what you have said, Mr. Tri! That was a lot of questions — and thank you for taking the time to answer them all.
ENDING
Thien — That’s all for today, everyone!
Great questions, and thank you also, Mr. Huy and Mr. Tri, for your time today to meet up and answer questions from the community.
I hope we were able to address your concerns. And if not, feel free to reach out to us through our social channels.
Twitter: https://twitter.com/KardiaChain
Telegram Announcements: https://t.me/kardiachainofficial
Facebook: KardiaChain | Ho Chi Minh City | Facebook
We can’t wait for 2023 and what KardiaChain has in store for everyone.
Mr. Tri — Before we say goodbye, I just want to say I’m really excited that we can finally showcase the vision of Kyokai to all of our community members
As I said, blockchain mass adoption has always been our end goal; it was about finding the right approach, one way or another. We have been working tirelessly to achieve our mass adoption goal, through these steps: Find utility fitting the mass, Build the right awareness, and Alignment to get full support from the government and our core partners. And now, we finally have our “eureka” moment with the Kyokai solution
We’d like to send the warmest thank you to all Kaisers who have trusted and accompanied us through all this time, and we can’t wait to head into the new direction of the journey ahead and see the fruitfulness of our effort in the years to come. TOGETHER!
Mr. Huy — Thank you again for the great conversation and hope you all enjoyed it.
We know not everything went out as smoothly all the time, but rest assured the team is building tirelessly and are super excited about what awaits us.
We are grateful to have you in our journey.
I’m more available to the community recently so feel free to ask questions and I will be here to answer!
Enjoy your weekend Kaisers and wait for many more new annoucnements to come!
Thien — Thank you for joining us today. We hope you learned something new and continue to support KardiaChain!
Make sure to follow and join our official accounts on Twitter and Telegram to get exciting updates.
Good evening and be safe!
the AMA is END here
Live QnA
Question — How does the restructuring of the team going to look like?
Mr. Huy — Please wait for our official announcement, but on the high level, we will have people in charge of different segments that we are targeting for, for example: VN business, VN government, SEA region, Asia, global etc. so we will cover more indepth in each section.
Question — What are the advantages of dual node technology compare to other bridges such as multichain?
Mr. Huy — After 5 years of dual node introduction, there are many other players in the field that have implemented different methods to cross the chains, so we feel the need to evolve and use our technology on a whole new level, hence the birth of Kyokai and the bridges of the verses.
Remember that each verse can be built on different chains so dual nodes to bridge chains are given. We will go one dimension further and bridge not only chains, but also verses. Think of 2D to 3D transformation.
Question — Is Lew fully back into the project developing the tech?
Mr. Huy — Lew is partially back but still in family emergency.
We are doing our best to support and get him back as soon as we can.
In the mean time, we have more ex-Googler tech leads coming back to Vietnam that we will intro to the community soon.
Question — I believe there should be 2 different teams for Kai — high-level professionals who are knowledgeable regarding blockchain development to solidify government/enterprise deals & web3 professionals who can assist in building out network usage in DeFi.
Enterprise/government adoption has been attempted, but has never really fully succeeded in the crypto ecosystem except in very niche cases such as El Salvador. The reason this is a very niche case is because the person who created the adoption (to use Bitcoin as the country’s currency) is the President.
That being said, that does not mean adoption of crypto at an enterprise/government level isn’t fully possible — but it will take time! Although it’s not ideal for the original goals of KardiaChain — the majority of network usage comes directly from DeFi which is at the moment a main target in the crypto ecosystem. This is something we need to take advantage of & build on to grow the KardiaChain network & community. Lightning fast transactions at a fraction of a penny should not go unnoticed! What do you think?
Mr. Tri — Hi Moto, you got a sharp observation. What you suggest is a good approach that we have taken since the first mainnet 2020. There are notable achievements in network usage during the GameFi movement in 2021. We believe that our new solution Kyokai can bring the activities from non-crypto space. Applications from our partners such as RRMR and Weepaz are already ramping up the network usage. Hopeful you will notice the increase in near future.
Question — This being said — if Kai did decide to create a separate team focused on DeFi, would this team focus on deploying projects solely on Kai ?
Mr. Tri — Bringing activities onto KardiaChain network is indeed a priority. The future of blockchain as a whole is multi/cross-chain, so projects should have a choice to operate on different chains simultaneously. However, there are certain advantages for projects that work solely on KAI, such as simpler operations and more dedicated support for users.
Question — Are there any other steps taken to increase communication and the bond with the community?
Mr. Huy — Please check out our “What’s next section”.
We will announce the community and marketing strategy in the next month.
Question — Will a new dex and bridge be built for the new Kyokai solution or is there still plans to continue developing Kdx and its partnership with MultiChain?
And is is the patents for dual node technology still pending?
Mr. Huy — We will definitely need the DEX/bridges for Kyokai and Kaidex is the default solution.
As in KDX token, it was owned by another team, not KardiaChain. We will work with them to collaborate to the best of our ability.
The Dual Node patent is still pending, yes.
