Transcript from Sparkster’s AMA (April 11th 2019)

This week Sparkster’s AMA welcomes back CEO Sajjad Daya. This has been a difficult journey over the last few weeks with the loss of Sajjad’s Mother, both Shabeer and Sajjad thank the community for their prayers, kind words and support. Shabeer has received an overwhelming amount of messages conveying thoughts and prayers and would like to publicly acknowledge that Sajjad is here.

Some of the community have been asking have been asking to hear from Sajjad, this AMA is a step towards that, Sajjad is here in the flesh! It is important to remember that Sajjad has been back in the office, he just has not been present at the AMAs.

Sajjad begins by thanking Shabeer and the entire Sparkster team for giving him privacy and support. Sajjad has been in constant contact with Shabeer, they have been navigating the ship together and are excited about what this month brings.

1. What is the use of doing marketing 3 days before unlock?

Let’s address what is the intention with our marketing and why our deadlines are so close to unlock. In the crypto space, as many of you will know, sentiment is fleeting, that’s why having dates so close to unlock helps to generate buzz and the marketing you are looking for.

2. Is there a good chance that Sparkster will participate in an iEO?

We have spoken to various exchanges regarding this, we do have a short time frame, given this time frame with unlock, this seems unlikely, but we are having the conversations. It is still discussion but the challenge is can it be done within a 3 week time frame.

3. Are market makers still in place on unlock?

Yes, we have the intention to have liquidity available when we unlock, at the same time we are not involved in any type of market manipulation, that’s not how we operate, no, we try to stay towards the highest ethical standards. To add to this, to answer the question, do we have liquidity partners that are going to be participating in the unlock progress, the answer is yes. But we are making sure those liquidity partners have the same ethical standards and values as us.

We will work with firms that are on a similar ethical basis as us and making sure we achieve our goals.

4. Any progress on securing exchanges?

Yes, certainly, several in fact, the answer is yes and yes.

5. Can the official SPRK coin be registered as the legit token etherscan

We have tried this plenty of times. We are going to be working with exchanges to address this. There is a process that occurs and you sign a form with a private key etc, but for some reason it is not being updated. We are hoping the exchange can help solve this problem for us.

6. Any news regarding fake SPRK tokens on Blockfolio.

I have reached out to Blockfolio to let them know we have not listed our token on any exchanges, the one they have is something they need to address.I am in contact with them to make that happen. Hopefully we will hear back.

Thank you for bringing that to our attention.

7. How are all the fake SPRK coins going to differ from the legit coin and what is stopping exchanges from accepting fake coins and causing a deflation in price.

They can’t cause a deflation in price because the only ones that will list us are those with contractual agreements in place. That should not be a concern.

The way this works is, the exchange lists a contract, an Ethereum contract, all these other fake coins have a different contract, the exchanges that we are contracting, will be listing our contract and not someone else’s contract, they will have no impact or interference at all. In-fact, whenever a transfer occurs from one token holder to another, weather that’s on an exchange or direct transfer, all of those transactions are occurring against their originating contract from where the token was generated. That is why you can go to the contract and see all those transfer etc, because they are all occurring through and via that contract. What this means is if somebody is trading a fake token of any kind, it has no bearing on that particular contract because they are not related. Since the exchange is listing our contract and only our contract, therefore there is no possible interference. These things are mutually exclusive.

8. Could you provide clarity on how tokens will be used.

This has been discussed several times, in previous AMAs and tech talks etc. We intend to have immediate utility when we unlock our tokens. We are working very hard to make this a reality. That immediately utility means it is a medium of exchange on the no code platform. Which we are working very hard to launch by the end of this month.

What that looks like is if people want to trade something they have created on the Sparkster platform, let’s say someone has created something for the medical industry and they want to sell this product to other people in the medical industry, the medium of exchange for that will be the SPRK token. The token will immediate utility.

But in addition to this, the token is integral to the functioning of the network itself, the decentralized cloud. It serves several purposes. One of those purposes is, as many of you know, we have implemented proof of stake. What this means is: to be able to participate in the network, you have to stake tokens. Anyone who is found acting illicitly on our network or acting in a way to attack the network or anything that comprises it in anyway their tokens will be taken from them. This has been compared by some to burning down a mining farm, when someone is found or caught cheating. If proof can be submitted that this person is cheating and you take away their stake, you are taking away a substantial amount of money they have staked to participate in the network that is like burning down their mining farm.

The tokens are a mechanism for rewarding participants in the network and for contributing their devices. There is a mechanism in place to allow us to grow the network and scale the network. As you know the TPS, the network can achieve, is a function of the number of participants in the network, as the number of participants grow so does the performance of the network.

9. How is Sparkster relationship with Ian Balina at this moment?

It is very good. We have never had a problem with Ian. I have addressed in previous AMAs. Ian is an investor in our project, he is entitled to a view and opinion just like any other token holder of the Sparkster project. He has the right to say whatever he wants and he done that. 90 -99% of the time we see eye to eye, there have been a few times where we have seen a difference in opinion and nonetheless, we are on great terms and in communication.

There is no concern there.

Ian is in constant contact, he did send his condolences to Sajjad, we are grateful for that. Yes, we don’t have any problems with Ian contrary to what some might want you to believe. We have a very good relationship with Ian and his team.

10. Saj has always promised us to do everything in his power to ensure we will have a good ROI when we unlock that is the reason why Sparkster delayed the unlock. Can you tell us exactly what Sparkster has done the last year to ensure we will have good ROI when we unlock.

We have been doing what we always promised to deliver great technology in particular, the decentralized cloud, the no code platform and our marketplace.

This is what we have been focused on predominantly. That is what we are delivering, we are focused on our road map and the various deadlines for the end of the month. You will see the fruits of that labor.

It is also important to note that market conditions are quite different now then when we concluded our token sale. We were in a declining market at that point in time. People would say the sentiment is quite different today. We agree it is a reasonable, in our opinion, time for us to consider unlock. We have used the time wisely to build technology, we focused on building relationships, we have been demonstrating the technology to various companies around the world and we got a lot of positive feedback about the direction we are going in and how we might be able to apply this technology to solve specific problems. From our vantage point it has been a success, what is really good about this is we are able to release the tokens on an exchange and those tokens are backed up with immediate utility. That is our intention and we are doing everything we can to have that be the case by the end of the month.

11. Will bounty tokens still be distributed one month after unlock.

That is still the case, and to receive bounty tokens you will still need to go through KYC.

12. Is there any clearance that will talk about Sparkster before unlock.

We are on conversations with YouTubers. We are just trying to sort out times and dates etc. We are definitely in communication with YouTubers. It is just a question of when we can schedule them out, obviously you can imagine they will want to announce that on their terms.

13. What is Sparkster going to do to attract masses from now until unlock.

We are very well known, from what we have understood, when speaking to exchanges, collaborators within the crypto space and lots of other people in this space, we don’t have a problem about being known. People know about us, that is one thing that comes with this if you remember the way we started off the project there were no large holders, we have one of the most vibrant communities. From what I can remember we have been listed as one of the most active telegram groups, period.

We have an active community, people know about us, but nonetheless to get the masses you have to deliver results. That is what we are going to do.

That is why we have lined by in succession, the release of our platform, videos and all of those together and that will address the concerns about getting to the masses, and we are confident we will get there.

In terms of awareness, the fudders and those that have spread these lies about our project have helped us with awareness, not helped with sentiment but they have certainly helped us with awareness. We are probably one of the most well known projects in this space. From that perspective what we deem as most important is demonstrating the value of the technology we have created. That is what a lot of what we are doing is focused on right now, being able to show how is this valuable and useful .

Hopefully you will be seeing some videos that will be coming out that will show this.

14. What is the listing strategy the team is adopting

The listing strategy is highly important, this is something we will be announcing in the next AMA.

15. Even after a repeated demand from the community, no technological update from the team.

We have made it our point to try to be the most communicative project from the get go, weather that was our tech talks, or AMAs, we have been very meticulous in trying to convey, our ideas and technological developments, I highly recommend you try to go back and go through our previous tech talks and AMA to see how much we have been trying add updates. Some of the stuff that is coming out in the next few weeks will show you the value of what we have created.

16. As of now, how many exchanges will Sparkster be listed on.

This will be addressed in the next AMA.

You will get your answer then.

17. When we will see any marketing directed at private investors like the community and the space in general.

We are talking to YouTubers and make sure they will get the word out.

18. How many established partnerships and future customers are under NDA?

There are a lot, probably over 10 under NDA. You don’t make the collaborations we have made time and time again with the institutions and caliber of institutions that we have made it with without serious power under you engine. From what I can tell you, we are excited.

With those that may have forgotten we are partnered with ARM, everyone cell phone has an ARM processor. If you have a car you are driving around with a product being controlled by an ARM processor. We are an official partner of ARM. We were the only Blockchain company to speak at their conference. We have demonstrated that there is clearly something substantial, tangible and valuable in our technology. We don’t control the process of delivering this news, they do. When they do decide to announce these partnerships you will see more of a magnitude.

19. What contingency is there in place to ensure we do not go under our initial price.

With the improvement of market conditions that we are seeing should help. Obviously we can’t predict the future, we are not involved in any way in interfering with the price of the token. With that being said, we have used this time wisely to build technology and then to be able to release that technology in advance of the token release demonstrates substance of value to token holders.

20. Is there any anti dumping mechanism in place?

We are looking in to this and having discussion and will some more information for you.

We have an exciting few weeks ahead of us, with the pending release of the technology and demonstrations. This is the time for us to come together, I have always said, to quite Abraham Lincoln: “A divided house cannot stand” at this time it is important to come together.

Final message from Sajjad and Shabeer:

I want to thank you as a community for your tolerance, it has been a challenging time, for you all too, to go through all the FUD, with the egregious claims made against us which were proven baseless and proven to be false. For myself to not appear in AMAs etc, I can understand this would have raised some concerns, like I have said, I have not gone anywhere, I have just been dealing with a personal tragedy.

Thank you for your tolerance, as we have gone through this. There have been some benefits, due to the FUD, we have become a very well known project. There is some value to the level of scrutiny, it has been very challenging on us personally, as many of you know the team has received death threats, which is completely unwarranted, in fact, such behavior is beneath many of you.

Some of the stuff is so toxic, it is ridiculous to say the least. We have contemplated taking legal action, we will never compromise the safety of our team, that includes our Telegram Admin team, our marketing team and our developers, Sajjad himself and Shabeer. We will not compromise the integrity and safety of our teams. Some of the claims were really unwarranted, the vast majority of our community where highly supportive, we have thick skin and tolerance, but claims like what we received will not be tolerated.

Let’s look to the future.

We have been the most scrutinized project, I don’t think any other project has had the level of scrutiny Sparkster has had, yet I can, to me, we have operated ethically, morally and with principle, with good faith and honesty. There has not been anyone who has been able to uncover anything. This is time for us to heal any divides we may have. Let’s come together and succeed together. Our goal at Sparkster has always been to democratize access to technology and to be able to enable people to unleash their creative potential, and manifest their ideas to reality. We think that is more important and necessary today than ever before, We as a community should keep that in mind, this is what we are here to do. Everything we do is to fulfill this mission and goal. That is why we come in to work, this is why I am here, and this is why I tolerate all this stuff, it is because the mission is bigger than that. It is bigger than me, it is bigger than money, it is about impacting humanity and making a difference, this is why we are all here. That is every single person on the team.

Let’s stick together and make this successful.

Thank you everyone for your time.

You can view the full AMA here.