Recap AMA: KardiaChain, Tokoin and angles of the partnership
The AMA was successfully conducted in Tokoin Global group at 8:00 pm GMT + 7, when KardiaChain CEO, Tri Pham visited Tokoin global and Indonesian community. KardiaChain and Tokoin used to meet each other in meetups and conference, but now we had a chance to visit each other's community and shared about our partnerships. Mr. Tri Pham, CEO KardiaChain and Mr. Eddy Christian Ng, COO Tokoin, have given a series of informative answers from audience.
1: Could you introduce yourself and Kardiachain in brief?
Mr Tri Pham: I’m Tri Pham co-founder & CEO at KardiaChain. I was running a tech company in London for 5 years before founding KardiaChain with my co-founder Huy. My mission is to bring innovative technology to the masses and blockchain is definitely an exciting industry. I build KardiaChain with the belief that we can drive mass adoption and build a better society with blockchain.
About KardiaChain, we are a public blockchain platform focused on Interoperability and providing hybrid blockchain solutions/infrastructure for enterprises and governments in Vietnam and other countries in South & East Asia. 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.
2: That’s a great background upon founding Kardiachain, and we admire your belief on mass adoption to build a better society through blockchain. Here’s the first question. What are the Competitive advantages of KardiaChain & Why any service providers choose KardiaChain instead of other Similar project?
Mr Tri Pham: Good question. We aim to achieve mass adoption on a large scale in an efficient manner by leveraging our strong business acumen and local know-how and partnering with large enterprises and government bodies to decentralize their existing products/services with large existing user bases.
These hybrid decentralized solutions are called ADapps (Adoption DApps) and are unique to KardiaChain. This approach allows KardiaChain t onboard non-crypto users onto blockchain in a highly efficient manner, while at the same time saving costs for customer acquisition and market education. What makes KardiaChain ADapps special is that it creates real demand for KAI token and real value for our investors: ADapps in collaboration with major enterprises have a profit sharing model, KardiaChain will use these funds for business and tech development as well as buying back our tokens on the secondary market to reduce the total circulating supply and thus directly benefiting our investors. Our ADapps are tokenized with many KAI use cases integrated, which increases demand for KAI tokens. For example, our first ADapp ON Sports will allow for KAI token holders to play prediction games, livestream donations to their favorite football players as well as earn KAI tokens through various in-app tasks. Hope it covers your question.
3: Kardiachain first Dapps is in collaboration with “ON sports”, can you please some features about ON sports Dapp?
Mr. Tri Pham: I’d love to share. KardiaChain is building a complete KAI tokenized football ecosystem, where if you are a Vietnamese football fan, you only need to hold KAI tokens to enjoy football at its best. The football ecosystem partners will include Vietnam Football Federation (VFF), ON Sports, Vietfootball, KardiaChain FC (our very own Futsal club).
- Prediction Games
Users holding KAI tokens in the ON Sports App are eligible to make football score predictions to win exciting football related rewards such as football match tickets, meet your favorite football player in person, football merchandise etc.
Users will be able to send donations to their favorite football players using KAI tokens either during a football match or their favorite player’s personal livestream.
- Daily Rewards
Users complete daily tasks such as reading articles, viewing videos or refer their friends to acquire KAI tokens.
- Future Applications
The above usage cases are only the beginning, We and our football partners will continue to develop new use cases for football fans in Vietnam in order to create a complete football fan ecosystem with KAI tokens at its heart.
To learn more about ON Sports: https://medium.com/kardiachain/what-is-adapp-kardiachains-first-adapp-onsports-and-kai-token-use-case-46075d639e8c
It’s a long answer :) I’m always excited when talking about this subject
4: We’ll be sure to check that later, and I guess Vietnamese really loves football. 😁 For the next question, why does KardiaChain care about its hybrid infrastructure? What advantages does this infrastructure offer in terms of payment system and usage?
Many people are interested in this. Combining private and public blockchains allows us to create highly flexible solutions that are more practical for business usage and blockchain adoption. Let’s have a look at the mobile payment channel and see how we combine our hybrid infrastructure to develop highly flexible solutions that allow for maximum scalability, security and privacy:
Each purchase on this new channel is a single transaction. Our first rollout in Vietnam will be with a 60-million subscribers telecom company. This huge use base will be able to use this payment gateway to pay for various 3rd party services from independent merchants. Therefore, the number of transactions will be immensely high when moving onto blockchain.
These transactions will therefore be processed on the Telco’s private Kardiachain blockchain to maximise scalability.
Sensitive information that needs to be kept confidential, such as customer information will also be stored on Telecom’s private Kardia blockchain. Information that does not require confidentiality but rather transparency such as 3rd party merchant information will be stored on KardiaChain’s public blockchain.
5: What are the use cases of KAI token in Kardiachain ecosystem and how you will increase the use cases of KAI token more?
I will list here some products/services that we are able to disclose:
First announced ADapp ON Sports in collaboration with Vietnamese National TV (VTVCab); 200,000 registered users and 800,000 ON Sports fans
Mobile Payment Channel in collaboration with Vietnam’s top telco, that will soon allow the Vietnamese population to acquire KAI tokens with ease using their mobile balance
Strategic business partnership with Geleximco, one of Vietnam’s most powerful multi-billion dollar conglomerates. Our technology and ADapps solutions will be applied to the wide range of industries that the conglomerate encompasses, including but not limited to: Banking & Finance, Agriculture, Real Estate, Commercial Services, Hospitality & Tourism
More will be announced and launched in coming months
6: What is the meaning of “non-invasive” interoperability? Taking in count that a translator is used in the Dual Node operation, what remains ‘not invaded’ and what benefits find in that the projects involved? What would it benefit Tokoin and KardiaChain partnership?
Mr. Tri Pham: “Non-invasive” interop means participating blockchains (ETH, NEO, TRX etc.) don’t have to make any change to their protocol and infrastructure in order to participate in cross-chain operations. Indeed, when we talk to NEO tech team, they don’t even know we already cross-connect them to ETH. You can compare this with some other projects which use sidechain or atomic swap where the participating chains need to support these protocol.
Another example is Cosmos, which doesn’t have strong requirements, but still request other chains to conform to their IBC protocol.
For the second part of your question, since KardiaChain support cross-chain operations through smart contract, we need to add some CISC instruction like “hold-and-release-at-certain-time” which ETH doesn’t need to support. DApp developers using KardiaChain would be able to write these command in the smart contract, whereas in ETH they can’t.
7: KardiaChain project looks very Futuristic! But, Could you tell us The main role of $KAI Tokens in KardiaChain Ecosystem? And as a crypto investor, What’s the main reason behind why I should Buy & Hodl $KAI in my portfolio as long term Investment?
The future always comes sooner than we think :)
Let me get to the KAI usage
KAI is mainly used in staking, paying for transactions, deploying smart contract and participating in services in KardiaChain ecosystem.
KAI is good for long term holders because we focus on expanding the usage of our tokens and our user base. We are looking at 1 million KAI users at the end of 2020 acquired via a serie of products and services from our partners. The longer you hold, the more places you can spend your KAI tokens. Limited supplies and increasing demans will drive the value up.
For more confirmations, let’s wait and see how our products coming :)
8: Massive adoption, it is every project strives to achieve. How is Kardia and Tokoin going to achieve this? do you have any plans to reach worldwide attention to KardiaChain?
I think both projects have the similar direction in getting more adoption. What we can do together is helping each other on market penetration in each of our home market.
Secondly, our technology can actually combine and provide more complete blockchain infrastructure.
For KardiaChain, at the moment, we will be focusing on Vietnam market. We aim to achieve mass adoption on a large scale in an efficient manner by leveraging our strong business acumen and local know-how and partnering with large enterprises and government bodies to decentralize their existing products/services with large existing user bases.
SouthEast Asia region is definitely the next goal
9: It’s good to hear that you have similar goals along with Tokoin which is also targeting the SouthEast Asia region. How Do you stay active in terms of marketing developments during this PANDEMIC? Because I’m sure you’re very excited to promote more after this settles down.
It’s unfortunate for the world and the economic in particular. But we can still manage to work from home, get more exposure online, and try best to get more business done remotely.
We just released the 2.0 version of ON Sports with so far another 10k new users. I onboarded some senior blockchain players as advisors (Ryan Fang COO of ANKR, and Richard Yun COO of Coinplug)
Also we reached partnership with some good projects and big business as we announced recently
So mostly what we did is to communicate these good news to our supporters and see the organic growth.
We grew a full wechat group in few days around our IEO last week.
It’s a few notes on our activities during lock down :D
10: Well that’s alot of accomplishments considering that we are working remotely.
What is your business model? Who are your potential customers? What is the mutual development between Tokoin and KardiaChain? Will you share users or business value.
Mr. Tri Pham: KardiaChain business model is to provide enterprises and government bodies blockchain infrastructure. Basically we offer our private-blockchain platform to them, and also provide tokenisations to help them make new features, new products and services.
TOKOIN: as mentioned previously KardiaChain, the world’s first fully interoperable and non-invasive blockchain platform.
Both Parties desire to co-market our products to their respective communities of developers, token purchasers and cryptocurrency enthusiasts across multiple channels. Both Parties hereby expresses their intention to integrate the key message to build brand and product awareness
In consideration of our mutual promises and covenants and conditions in this Memorandum, the parties agree as follows:
Both Tokoin and KardiaChain have an enterprise background and are now jointly look into offering a joint solution to tap into both parties’ strengths: Tokoin’s presence can bring in prevailing institutions and market adoption and KardiaChain’s presence and connections in Vietnam/South-East Asia. Both can also provide consultancy/technical support for enterprises, such as advising them on blockchain integration and providing the required manpower to build platforms/systems for them from scratch., after mutual discussion and agreement between KardiaChain and Tokoin for the better effort estimation and assignment allocation.
Mr. Tri Pham: I’m personally interested in Tokoin products. Your approach is creative yet practical. I can see the benefits of introducing Tokoin business ID to Vietnam.
TOKOIN: in conclusion we believe in each other’s vision with each strenght so might as well focus on working together mutually in two different market
11: Thanks for your answers gentlemen. Kardiachain provides hybrid blockchain solutions/infrastructure for enterprises and governments. Is it possible to implement your solutions to all sectors? Which sectores are potential field for Kardiachain and Tokoin? Which of them are you primarily targeting on? And additionally, there are many countries that are technologically inadequate. Is it possible to implement Kardiachain and Tokoin solutions in these countries?
Mr. Tri Pham: There are specific sectors we are targeting, based on certain criteria such as 1. store sensitive data/ personal data 2. need transparency to earn trust from users/clients. 3. complicated and costly process to validate/verify/reconcile internally. Right now, we are working with banks, telecom companies, education institutions and media companies.
Right now I can think of integrating Tokoin into our mobile payment channel, where users and merchants can choose to share transaction data.
Not many countries are suitable for blockchain as of now. Vietnam is among the best countries for this technology and for KardiaChain. This is our home market, we have personal and professional networks as well as local know-how. Vietnam doesn’t have any legacy system to compete with blockchain. The country is still in the middle of digitalisation and we can leverage that to onboard directly on blockchain.
12: What is Kardiachain and its technology? Is Kardiachain a separate Blockchain like Ethereum chain or other chains?
Mr. Tri Pham: Yes, KardiaChain can operate as an independent public (or private) blockchain similar to Ethereum. But more than it, KardiaChain can use Dual Nodes technology to build the “bridges” to other blockchains like ETH or NEO or TRX to create a blockchain or blockchains, or you can imagine the universe with many planets and satellites.
13: Here’s my last question before we give our participants here the chance to ask their questions.
Tokoin has already been listed on Bitmax and Kucoin. Why did you decide to implement IEO on Gate.io? What benefits does Gate.io bring to KardiaChain ? Are you planning also to enter the Chinese market?
Mr. Tri Pham: Our IEO decision at this time does not rely too much on the market in general and crypto in particular. Listing is a necessary requirement for the project to be able to put products and services of partners into use. In April it was ON Sports, followed by Streamer donation platform with Creatory, and a whole host of other services that we would give details as appropriate.
China market is quite attractive at the same time very competitive. We will try our best.
Great! Thank you for accomodating all questions and I think our community have learned so much, but I think there are still questions that they might want to be answered. I’ll be opening the chat now for their chance to ask their questions.
Q: What are KardiaChain’s marketing programs? KardiaChain has thought to use the national television VN VTV or not?
Mr. Tri Pham: We and VTVCab have prepared the advertising and ready to live. Due to corona, all state-owned media channels must focus 100% on the pandemic and corona-related communications.
Q: As far as Ive know tokoin relies on EVM! But kardiachain has it’s own VM .. So this partnership will help tokoin build their own Virtual Machine too?
TOKOIN: the good thing about Kardiachain is they have a cross chain capability where two protocol can speak to each other so we are actually building the best of both world
Q: As far as Ive know tokoin relies on EVM! But kardiachain has it’s own VM .. So this partnership will help tokoin build their own Virtual Machine too?
Mr. Tri Pham: As long as a blockchain supports smart contract, we can provide non-invasive cross-chain connection for them.
Q: How long will KardiaChain projects be used in businesses, private agencies and the state in Vietnam? What will these projects be?
Mr. Tri Pham: We already being integrated with VTVCab Sport app called ON Sports. More products are coming this year in different industries such as telecommunications, entertainment, and payment.
Q: The both projects have the support of Vietnamese Government, so how Tokoin and Kardiachain Will do the same With the Indonesian Government? How this association can improve the adoption for both projects to a new market territory like the Philippines?
TOKOIN: Tokoin have a strong footprint in the governemnt, that is why we partner with Kardiachain to build solution for the government, as for TOkoin we are actually trying to have a footprint in the Philippine
Q: For any projects perfect journey, partnerships are the essential component, so which type of the partnership does kardiachain already have attained?
Mr. Tri Pham: KardiaChain focuses on partnerships with only practical projects (highly adoptable) such as Tokoin, Matic and Coinplug Korea. We have done many business collaborations with revenue sharing with non-blockchain companies like VTVCab and telecoms.
Q: Can you tell us some Key benefits of investing in KAI coins? Why do you think that Demand of KAI will increase in Future?
Mr. Tri Pham: KAI value will increase eventually because of limited supply and increase demands: new use cases and new users from non-crypto world coming.
Q: On top of doing AMA’s, are there any programs that we can expect from @KardiaChain this 2020 that will possibly change the way user sees the project?
Mr. Tri Pham: There will be many, most of them includes the use of KAI. If you have any idea please don’t hesitate to tell us.
How do you expect to expand together in SEA? What market do you focus on? How would you guys expand into countries with regulatory complexity?
In which areas do you have higher expectations for growth and development? How both KardiaChain and Tokoin is going to tap into each other’s strength?
Certainly, this alliance supposes advantages in aspects of growth and development for both projects, but what about the community? What does it hold for users? How do you hope to attract more users?
1. We start with expanding to Vietnam for TOkoin and to Indonesia for Kardiachain. Regulation is good so that we actually follow them and build solution that can add value to the society
2. We believe in adding value to the society we will do whatever it takes to build products that are suitable for the society
We focus on DAPP and Kardiachain focus on protocol
3. We certainly believe with our collaboration where we build product for the community, it will attract users, say for example, we are currently trying to build tracking system for healthcare where Kardia also have some experience in the healthcare area
Q: There are many Blockchain projects which have D-apps but how D-apps of Kardiachain differs from them?
Mr. Tri Pham: Our Dapps are coming from applying KAI tokens into existing applications. That’s why we called it ADapps. The differences are ADapps already have many users and business models.
Q: Mr. Eddy
As Tokoin, how do you help small and medium-sized Businesses grow their businesses and gain an innovative philosophy, in which areas do you support them?
Mr. Tri Pham
How do you evaluate the interest in KAI tokens, the easy payment system in Vietnam, and how does the Vietnam market contribute to the development of your project?
TOKOIN: i believe in helping MSME scale and sustain, how can they sustain and grow if they are not supported financially, that is the reason why TOkoin is here to build credit scoring based on their identity and connect them to financial institution.
Q: Hi kardiachain, Vietnam gorvement do not have rule for crypto currency. How do you pass them and promote kardiachain strong in Viet Nam?
How about speed when we send KAI token in your chain?
What is the business model of the Project?
Who do you view as your current competitors/peers?
What is your project’s competitive advantage over existing or potential future solutions?
What are the main markets that is focusing now? What is your strategy to access to these markets?
Mr. Tri Pham: We are involved a lot on governemt side as well to make sure being updated with new policies and somehow contribute to the process. Most recent I was giving speech about blockchain and cryptocurrency to Vietnam Deputy Minister of Justice.
Q: Entering the Tokoin page is like entering a house of mysteries. The little details that are though it really intrigues. We found 3 race cars with different logos. What did you want to represent with them?
TOKOIN: Those 3 cars are actually representation of our products, you will see our new rebranded website coming very soon. you should try to download our wallet, the link will be shared at the end of this AMA
Q: Why do you think that demand & use of KardiaChain will increase in Future & all governments & Enterprises will adopt & done partnerships with KardiaChain Blockchain Project?
Mr. Tri Pham: Blockchain is inevitable. This technology offers opportunities for business and governments to build trust with their people. What we are doing is to speed up that process and use our tech and local know-how to provide the adequate model.
I think most of the questions had been answered and its been a long AMA with an hour and half. Let’s wrap it up guys! On behalf of Tokoin team, we would like to thank @triminhph of KardiaChain for giving his precious time participating on this AMA.
Thank you very much for the opportunities!
ECN: Thank you @triminhph for the awesome AMA and all your explanation about KardiaChain, thank you @heygeorge for being a super awesome host