Krypital Group’s CEO Maggie Wu: Decentralized Exchanges Are Becoming Increasingly Vertical, Big Data Will Unfailingly Be the Cornerstone of the Blockchain
On the evening of May 8, Maggie Wu, CEO of Krypital Group, was invited to participate in the “Injective China Debut — Defi Breaker, A Revolution in Trading” live event. Co-founder and CEO of Injective Protocol, Eric Chen met with Injective’s followers in China for the first time on a large scale through the live broadcast of the chain node CeFi and Defi. They made reforms regarding the matter of “transactions”.
In the first round table session, in addition to the invitation of the CEO of Krypital Group Maggie Wu, Damai, a representative from the RealSatoshi Community, Pan Zhihong, the research director of Lianwen, and other guests participated in the discussion with Eric Chen. Helen, the head of Babbitt Beijing Station, served as the host. Krypital Group’s Maggie Wu and Eric Chen had an in-depth discussion and exchanged various viewpoints with each other regarding service and profit issues. A conflict from solving existing DEX problems to complementing the security and fairness of centralized exchanges has begun. Users are looking forward to whether or not the ideal Roman Road for finance will be realized.
During the guest question and answer session, Maggie Wu was concerned about how a good product should form a closed business loop and possess a continuous profit model. How does Injective consider this issue in this regard? Can it yield profit? Eric Chen replied that in the design of the token economy, the entire value of the ecosystem was converted and integrated into the token. There are two points here. The first point is the repurchase and destruction link. Injective is to periodically repurchase INJ through smart contracts and then permanently destroy it. The second is that if an individual does not have INJ, then he or she can become a node and the node can be charged a 40% transaction fee.
When Babbitt Beijing Station leader Helen served as the round table host and was looking at the trading trends and patterns of DeFi, Maggie Wu said that history never repeats itself, but it rhymes. From the development of traditional stocks to the current centralized exchanges, in DeFi’s industry, it is not hard to see the development trend of decentralized exchanges. She looks forward to financial derivatives, possible future innovative portfolio products, and wealth management products. She believes that decentralized exchanges will go from taking care of the big picture to refining the more detailed aspects and will become more and more vertical.
To access the live stream, please click: http://dwz.date/a5kD
On May 9th at noon, the 12th issue of Nova Superstar Dialogue focused on GeoDB, one of the best startup companies in Europe and the UK. Special guests Luis Gelaodo, GeoDB CEO and Co-founder of GeoDB, and Maggie Wu, CEO and Co-founder of Krypital Group, and Ren Zheng, founding partner of Consensus Lab, were invited to discuss the development plan and investment value of the GeoDB project.
Maggie Wu admitted in the roundtable dialogue that as an institution focused on value investment in the field of blockchain investment, she has seen countless investment opportunities come and go. However, the direction of big data will always be the cornerstone of the blockchain. There are three main reasons: 1. The decentralized nature of the blockchain solves a fundamental problem, that is, data confidentiality; 2. The immutable nature of the blockchain provides legitimacy for the data on the chain; 3. Individuals can now profit from the data they contribute.
Maggie Wu concluded that there are a large number of practical cases in all industries, and that blockchain will bring big data to another level.
The following is a record of some questions from the guests:
Maggie Wu asked: if the blockchain project has enough user traffic, and whether it can have stable cash flow in the future to ensure the continued stability is the cornerstone of the project. We understand that the GeoDB project has excellent advantages for landing and application. After getting online, more than 10 million users and partner resources can be imported. Do these users need to be re-educated and what is the cost of that education?
Luis: It is true that many application users do not really understand the cryptocurrency field. Here we have two strategies. The first strategy is user education, like you mentioned. We will hold webinars, Q&A sessions, provide 24/7 support and other educational channels. These educational activities will not increase the company’s overall operating expenses, because this is included in the daily work of the customer support team. Our team has many outstanding experts in these areas. The second strategy is that we do not want users to treat GEO as a tool for cashing out. To this end, we are cooperating with different online services and retail service companies to obtain more discounts. Given our large user base, these companies are happy to offer discounts to attract new customers. By increasing their methods, users will be able to convert GEOs into discount coupons or other free services, thereby reducing the risk of users selling GEOs in the market and having a strong impact on GEO prices. Therefore, I think we have put together a comprehensive strategy based on our past experience in dealing with all of these issues.
Maggie Wu asked: From your white paper, I saw that you started with location-related data. Can you share with use why you chose this field?
Luis: All of our data is anonymous. Location data, comprehensive device data, connection data, and phone usage data. Among all these types of data, location data is one of the most valuable in the industry. Location data combined with other relevant information can enable companies to make better business decisions and better understand their markets. Of all the big data projects developed in 2019, over 80% of those projects used location data as a key element of their analysis.
Maggie Wu asked: What are the advantages of GeoDB technology compared with big data competitors?
Luis: In the past few years, big data in the field of blockchain has mainly been established at the protocol level. Many good agreements have emerged, such as Ocean, Enigma, or IOTA. At GeoDB we do not develop agreements. As an investor, you may also see that today we have hundreds of unappealing agreements. GeoDB is an end-user solution that combines all the advanced technologies in the field of blockchain and big data. We not only use one type of technology, instead we use the fusion of various technologies. The execution ability that greatly brings early appeal and user-friendliness is our competitive advantage.
Maggie Wu asked: The GEO token represents the market value of big data in the GeoDB market, and the token written in the white paper will continue to be issued within 21 years. Are your products and tokens aimed at B-end users or C-end users? What is the design logic of the token release within 21 years? What are the application scenarios of tokens?
Luis: First of all, let’s clarify that 21 years means that it will take 21 years for the data generator’s reward pool to be distributed. It is irrelevant with the tokens that are now available for investors to buy.
The allocation of GEO for a full 21 years is to maintain a good balance between user rewards, token prices, and circulating supply. This logic is very similar to Bitcoin’s distribution. At the beginning, we had fewer active users, but more rewards. As the number of users grows, the number of rewards per day will also decrease. This will be resolved through smart contracts. As a result, users can have full confidence in the future reward mechanism. Of course, we will have different coefficients to allocate rewards on a certain day. Because different data corresponds to different needs, we need to consider this.
The core idea is to build a model that can reward early users while generating more data. Buyers who need to purchase data will buy GEOs in the market in order to ensure that our tokens will have more and more value.
In 21 years, we believe that it can satisfy users, and at the same time, the demand for GEO in the market can grow well so as to maintain the balance of a rise in currency price. We are a B2C2B company. We provide services for consumers and businesses through smartphones and data connections to every user in the world.
Our target customers can range from 15 to 45 years old. From a business perspective, after 10 years, 95% of company decisions will be based on big data, so the market is huge, and we will basically have potential customers in all types of companies.
Maggie Wu asked: Is there any plan to expand into ecological partners in the Asian market? Who will be a potential partner?
Luis: We have plans to launch GeoCash in Asia in our roadmap plan, and we will also form a business development team to work with big data buyers and sellers. Asia is a very large market, and there are many talented people who love and understand technology. This is why we are here now!
To access the live stream please click: https://play.yunxi.tv/livestream/18df4ef4b99b46e6b1f5efb22d18
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