QLC Chain Q1 2020 Reddit AMA recap
Host: Allen Li
On May 2nd, QLC Chain Chief architect Allen Li was featured in a Reddit AMA reviewing QLC Chain’s recent updates in the past quarter of 2020. Check out some of the most up-to-date progress and informative replies, in case you didn’t get to catch the live session.
The Q&A list below has rounded up the AMA highlights, and we have outlined the several most valuable questions addressed to give an overview of this recap content.
AMA recap overview
- Blockchain adoption
Q: What is the product that QLC Chain delivered to the client? Any details to share about the client?
Q: My question is, what role do the operators play in the ecosystem of cartesi and what benefits do they have for being in the ecosystem?
Allen: The product we delivered is a platform to help operator billing and settlement of their network resource exchange. It is very similar to the marketplace of global bandwidth and A2P SMS. The customer is top 5 subsea fiber operator worldwide, HQ is based in HK
Q: Can you give me a example how qlc private layer work’s qlc-ptm
Allen：QLC-PTM is used for customer data privacy protection . We are responsible for the operator network resource exchange and billing settlement. So the traffic data is very sensitive to customers, that is the scenarios of qlc-PTM to use.
Q: What is the TPS performance of the QLC Chain?
Allen: TPS of QLC chain can reach 2k now without any sharding technology.
Q: In your letter, you mentioned ‘stable coin’, could you elaborate in what way the operator plans to use stable coins and how it could benefit QLC Chain/which opportunities it creates for QLC?
Allen: The stable coin is a good example of blockchain adoption for the telecom industry. From the QLC Chain perspective , it means we have the opportunity to integrate QLC wallet into the operator’s BSS/OSS system. The stable coin for payment is possibly issued on QLC Chain in future. I believe it is a good benefit for QLC holders
Q: Will this stable coin be issued on QLC Chain or do they consider to do this?
Allen: I would say it is possible in future, however now we will collaborate with Paxos or USDC to support the solution at an early stage.
Q: Does this implementation mean the client is using QGas for this product?
Allen: No, this implementation means it is feasible that QLC Chain Node can be owned by operators and QLC token can be staked by operators. However, the payment process uses a stable coin, and Qgas needs some method that bridges with fiat. For example buyback campaigns.
Q: Will qlc create a stable coin and how this will be used by people?
Allen: A stable coin can be issued on the QLC chain, or at least support the PAX/USDC cross-chain staking with ETH. The stable coin will be used for the service exchange settlement across different operator networks.
Q: Do they run a mining/voting node to support the network? If yes, how many QLC are they staking for longterm?
Allen: Yes, they will run mining and voting nodes to support the network. In terms of how many QLC staking, it is under negotiation because the business model is revenue share based on how many transactions QLC chain nodes settled.
Q: What are the key factors to become the leadership of the telecom industry in the 5G era
Allen: For QLC, we think the adoption scenario is the first step to keep leadership of telecom in the 5G era. Now we found it, the network automation and network. It is a fundamental requirement for the network infrastructure share and management.
Next step, we will enhance QLC chain performance and support the data and transaction protection. Through this strategy, we can bundle to network operators more closely, then grow up with clients.
After that, we will have the telecom capabilities exchange marketplace based on the QLC chain. This marketplace can serve both to B and to C, We call it: network as a service.
We will talk with them, and give community feedback as long as we have a conclusion.
Q: What are the most difficult challenges setbacks you encountered during the development of QLC Chain what are the plans of qlc chain for the 2020 year from tech and adoption point of view？
Allen: For QLC team, the challenge is how we can bridge decentralized community value and centralized market adoption. At the same time make the adoption growing as fast as possible.
Q: Checked Q-Wallet today and no anti-fraud calling and also no token staking for phonebook contacts. Please clarify if these goals are completed?
Allen: The phonebook contact feature has been delayed a little. Because most developer resources are arranged to develop the customer product.
Q: Could you tell more in what capacity the client is using QLC chain? What amount of transactions and how much QGAS is being used by this operator?
Allen: This customer has 1 billion USD revenue every year. And settlement/payment service cost roughly 1%e~2% of revenue. That is the basic information we can provide.
Q: As per my first View, QLC Chain is working on SMS, Telecom related services ! But, Can you tell us What’s the main Role Blockchain Technology in the Telecom industry? Which problems of SMS, Sim or Telecom are solved by QLC Chain project?
Allen: Network resource exchange and billing/settlement is the pain point to operator inter connection worldwide. besides, network and cloud resource exchange is growing faster and faster, that is also what we are resolving in QLC chain adoption.
Q: I see in the website, you mentioned eSim & Decentralized SMS ! So, I have a question, for Hacking & stealing Money, the main trick Hackers recently use is Sim Swapping & getting OTP for Transfer ! So, Is that problem that can be solved through QLC Chain’s eSims & Decentralized SMS Services?
Allen: Yes, traceable SMS platform is a counter telecom fraud product we delivered last year targeting financial institutions, operators, etc. to provide authenticity verification of the SMS sender service to their users.
Q: How will QLC Chain be more beneficial & secure tool for any Users for being safe & secure in Online world especially for crypto users?
Allen: Trustability, traceability and transparency lie in the nature of blockchain technology. In the design of all QLC Chain products, user privacy comes first, as in Q-Wallet, the ownership of assets is of top priority, Confiant itself is a privacy protection tool that safeguards the user’s accounts, messages and emails. QLC Chain solution for our clients also provides privacy protection service as the commercial business data is highly sensitive.
Security and privacy always come first in blockchain-based solutions.
Q: How do you feel about the introduction by the Chinese government of its stable cryptocurrency, and whether the QLC project will have a place in this ecosystem?
Allen: In China, we are watching the progress of Chinese government stable coin DC/EP, currently it is for the M0 , so it is not suitable for the B2B market.
Q: For online platforms that already have profitable, efficient revenue models, transitioning to a new system makes little sense. How can QLC Chain solve that problem?
Allen: Yes, you are right, actually, what we are doing is integrating qlc chain based billing/settlement service into customer’s legacy BSS/OSS, and we will try to use the API visiting based pricing strategy which means settlement as mining. Hope this can bridge the customer value to community value.
Q: How Can Confidant secure my emails? Also, Is Confidant a Hardware device or software which can be installed in any Device? and what’s the role of QLC Chain Blockchain platform in Confidant Product?
Allen: Confidant is a decentralized privacy management and protection platform with which you can send encrypted messages and emails to any Confidant contact. It can store your contact list, SmS and emails on a hardware named Confidant Station.
You install the Confidant app on your mobile, now all the features are accessible for all users for free, as you can use a shared Confidant station, by logging in remotely from anywhere.
Q: How do you stay ahead of the competition with companies that already offer the same services?
Allen: So far we are the leadership of this service because our team has both the telecom and blockchain capabilities. We offer competitive products and solutions to customers.
Q: Do you think that QLC’s solutions bring new problems like privacy and data protection because of the open and transparent nature of the blockchain? How do you deal with privacy and data protection issues
Allen: Yes, you are right, privacy and data protection is very important to us. We will support the privacy protection solution in May. It is compatible with Ethereum privacy solutions.
Q: Can you tell us about the QLC chain DID and Decentralized Pubkey Infrastructure and what they are built for?
Allen: DID and decentralized PUBkey is about the SASE(secure access service edge) solution. In the past, companies built their dedicated network based on the VPN technology. However it is very expensive and less scalable. In the future many companies can build their own private network using cryptographic and DID management technology on the public internet. So you can see blockchain is really changing and evolving the network technology . Google has launched the SASE solution based on centralized PKI.
Q: Can you give me an example of Defi usage in the QLC Chain ecosystem and what part of decentralized oracle can help enterprise companies and create new kind of jobs in meta coronavirus era .
Allen: Defi product ranking is the first product in the QLC Chain ecosystem. QLC Chain can provide trust network access after we collaborate with operator while oracle needs a trust network to prevent attacks.
2. Team operation
Q: Hi Allen. Do you have enough money to continue developing?? Are any collaborations possible?
Allen: Yes, we have enough money to support development including adoption and public chain, besides the revenue from customer service is also growing.
Q: How many employees work in the QLC team, are you going to increase marketing?
Allen: So far the QLC Chain team has 22 staff. Marketing for 2020 will increase for the operators market.
3. Operator cooperation expansion
Q: How your progress in Europe is going, do you have any negotiations with European telecommunication companies? How long before the adoption of QLC in the world. Will existing partnerships help?
Allen: Yes, we are pitching some European telecom companies in London, Netherlands and Germany. and are preparing PoC with them at the same time, such as DoD (Data on Demand), SASE(secure access server edge) with DID on QLC Chain. We are also a European telecom organization MEF/CBAN member and have contributed some blockchain proposals.
Q: Do the QLC staking rules for running Representatives and Mining Nodes will be the same for the telecom companies? They need to buy 3M and 100K QLC, respectively, right?
Allen: It is a very critical question about the staking rules for operators who complete the settlement service on QLC Chain. To be honest, it is still under calculation procedure, it is very similar to the business model based on API visiting . We will try to design the settlement as mining business model to connect customer value and community value.
Q: Collaboration with Neo?
Allen: We are thinking about the DID collaboration with NeoID in the telecom industry.
Q: We want some things to affect the price. you say that a company will buy a $ 2 million qlc. When will they buy a purchase?Do you have any other livelihoods?
Allen: It is quite a challenging question. Yes, we have the contract of buying $2 million QLC, the contract is a collaboration framework for QLC chain-based A2P SMS anti-fraud and settlement service platform. The revenue generated from this platform will be used for buyback QLC. It is slower than expected but still undergoing now.
Q: It also shows that there is no one else beside MontNets in the radar?
Allen: No, Montnets is just only one of our A2P SMS customers. We have a contract with another customer who is the leading subsea fiber IP network operator worldwide with HQ based in Hong Kong. Our position is to provide the marketplace that can support the communication resource exchange and billing settlement.
4. Future plans
Q: Are you planning to buy QGas again? On what terms
Allen: In 2020, we will continue the buyback program of QGas.
Q: What do you feel is the biggest challenge for QLC moving forward in order to reach greater adoption?
Allen: I want to say the biggest challenge for QLC now is the support from the community. In most cases, the internal factor is more important than the external factor for success. That is why I think it is very significant that we have continuous support from the community.
Q: Have you changed your roadmap?
Allen: About the roadmap, we will adjust a little the priority arrangement regarding settlement platform and Q-Wallet.
Q: Do you have any plans for raising the value and utility of QLC such as increasing/decreasing the supply,partnership, burning plan,staking or buyback program..
Allen: Yes, doubtlessly the largest driving force of QLC price would be various adoption scenarios of QLC and QGas, our revenue from business clients has been steadily increasing. Once QLC further consolidates its leadership as the telcom-focused public blockchain, more commercial usage and operators are expected in the near future.
Secondly, we will further explore the gas qlc adoption and consumption within products in the QLC Chain ecosystem, which is at best integrated into the client’s network resource management platform.
QGas buyback and burning program will be conducted regularly , and the team will buy back QGas for a rate better than the public market to give back to the QLC Chain nodes — the network resource operators.
We expect to see further growth in the staking volume of QLC through diversified campaigns, which serves as a critical strategy of QLC value.
Q: Will there be any changes to the development and marketing strategies?
Allen: In Q2 2020, we will arrange the marketing resource for more operators in China and EU, more detail will be disclosed in the roadmap. We plan to bridge the customer value and community value in Q2
Q: By the end of 2020, what do you hope the QLC Chain team will have achieved?
Allen: Our short-term goal would be to deliver every single product to our client in accordance with their highest standards, on top of which further expand our cooperation with various industrial partners, it is important to maintain our superiority in terms of adoption with operators.
For the QLC Chain products, as Q-Wallet has been gaining East Asian, U.S users rapidly, we hope to seize the opportunity to develop and work with local sales agent partners to give our users more access to defi products, top-up services with full crypto payment. Same for our privacy protection tool Confidant, our team is allocating resources to expand its traffic channels.
Any references and suggestions in this regard will be more than welcome, please drop an email to email@example.com.
Jasper from Telegram
Q: Has the team set up any targets to achieve before listing to an exchange or is there any plan to stick to in this development? If so, what are the requirements for the team to decide for any listings?
Allen: Yes, we are in contact with several exchanges for listing QLC, although it is not the proper time to disclose the names yet, but they are all the top-tier exchanges spread in several countries. To enhance the liquidity of QLC has always been one of our goals and one critical way to give back to our supportive community and attract new investors.