QLC Chain Community AMA — October 18, 2020
This past week, we have asked our community to submit their questions about the QLC Chain project, though our Reddit page (https://www.reddit.com/r/QLCChain/comments/jak86b/qlc_chain_community_ama_with_allen_lee_october_16/) to our team. We are finally happy to bring you the responses!
Q: Can you give a general update on enterprise adoption: the SMS billing platform, recent developments with decentralized oracles, etc?
Team: During September, there were roughly 3k～5k SMS billed on QLC chain everyday. The transactions were processed on the alliance node. It is not a large number, but we ARE growing.
Q: Why do we see many hints in articles and Github on partners you work with but no official announcement? Are telecom companies scared to announce they work together with blockchain projects like QLC Chain or is there another good reason that the QLC team can’t announce this?
Team: NDA is the main consideration. All the operators we are collaborating with require signing of NDAs, so it’s not possible to make announcements without their prior approval. Also, tech solutions that converge telecoms and blockchain are relatively new and we want to be careful not hinder our adoption plans, because of any potential competition between telecom operators.
Q: I want to ask about Quickswap development; in what phase it is at the moment and what key features will it bring to DeFi space since a lot of defi platforms have already been released.
Team: Actually, we have made a lot of progress. The AMM protocol is amazing and Quickswap will support not only crypto tokens like WBTC/ETH swap, but also stable coin swap for enterprises like USDC/PAX. We are planning to launch the platform in November!
Team: I would like to know what QLC team’s plans are for releasing a product. As I can see QLC team is only realizing some versions of MVP, but not something that utilizes the QLC token on the enterprise level. You also mentioned QLC will expand into the European market this year but we didn’t see anything regarding European expansion. Have you had pullbacks in this area?
Team: That is a good question. QLC is launching a platform product with MEF for global operators. We have completed many PoCs with operators, Now we can build the SaaS platform. In the European market, we have three operators collaborating with QLC.
Q: When will we hear more about which 2 mobile operators are going to implement the A2P SMS settlement platform (mentioned in late 2019)? Will we soon hear more about collaboration with some operator on the qlcchain based settlement service?
Team: Yes, we have mentioned it in the previous AMA. QLC will launch a platform bridging several operators in Europe, China and Singapore. Please stay tuned for more details.
Q: Has development of Confidant stopped or are you planning to share something with us soon?
Team: Confidant development is currently on halt, as more resources have been transferred to enterprise service development.
Q: When will the QLC stable coin be issued ? Is the stable coin going to be a NEP5 token or QLC Chain based token?
Team: The sable coin on Ethereum can be mapped on QLC chain. It is backed by ERC20 on Ethereum stable coin.
Q: NEO already has Flamingo DeFi, so why create a separate NEP5-ERC20 Token bridge? Isn’t it better to collaborate with Flamingo? Are our DeFi product Smart Contracts going to be based on QLC Chain or Neo based?
Team: Flamingo is built for NEO/ONT and Ethereum asset exchange and management. Future collaboration with Flamingo is possible.
Q: In your last medium article you mentioned that QLC Chain will use Chainlink data feed for two solutions: tokenizing telco infrastructure and (2FA) over OTA/SMS for its telecom and banking partners. I would like the explanation of what the term “tokenize telco infrastructure” means, by using a simple example as most people could not understand the meaning of this. Also, when will the 2FA product be available for use to banking partners?
Team: ”Tokenize telco infrastructure” means that the communication network service can be billed and settled on QLC chain according to the network capacity. 2FA adoption service will be included into the A2P QoS assurance product on QLC chain.
Q: Can you provide more info about how QLC Chain 2FA works?
Team: Our 2FA solution uses a method in which the SMS authentication process can be completed by the multi-signature tech on QLC chain smart contract. In this way, SMS messages can be check by both SIM card signature and private key signature on the server.
Q: I would like to know how long, approximately, will it be before we start to see noticeable , adoption-driven demand for the QLC and QGas token? Could it be years still, or perhaps sometime next year? Some of us have been around for quite awhile and are patient as we believe QLC Chain will be successful, and we understand this is new technology and a new paradigm. But, sometimes it feels as if in the end the strategies change often, and we worry that although the chain will be successful, the actual QLC and QGas tokens will not see the demand needed for natural value increase. How can you assure us that we will be rewarded for our patience, our support in various social media, and our investment in these tokens? Thank you!
In the telecom area, QLC chain is very competitive compared to the likes of Ethereum and Hyperledger. To be honest, it is not easy to persuade operators to buy QLC token as payment for QLC chain service. However operators are open to adopting ie. USDC/PAX as payment. We are building the DeFi product supporting QLC/USDC, QLC/PAX liquidity, through which the QLC chain service future income can be distributed to the community.
Q: Qgas doesn’t hold major value now around use cases. What’s the plan to add more value to it?
Team: QGAS will soon be used in the AMM protocol on qlcchain.
Q: What are the long term plans and benefits for QLC holders regarding NFTs?
Team: NFTs on qlcchain are not planned yet.
Q: Buy back and burn. It looks to be abandoned. Please confirm and if it’s still in plan how much tokens are staged to burn?
Team: Yes, QGAS buyback and burning is still planned.
Q: Regarding MEF forum LSO sonata APIs; Is QLC Chain the sole provider of these APIs or these standards are being worked on by other solution providers as well. Does the underlying implementation for Sonata use DLT and does it benefit QLC or QGas?
Team: Yes, we are developing the QLC chain as a service with MEF to expand the standard coverage to global operators.
Q: What’s happened to qlc based oracles why are we using Chainlink now?
Team: We have announced the collaboration with Chainlink, the next step is we can share the data feeding capabilities with Chainlink.
Q: 2020 will end soon. What are the QLC team’s plans and roadmap for 2021? Will you post milestones for 2021 before the end of 2020?
Team: The primary goal is to launch our platform supporting billing/settlement/reconciliation /payment service for global operators. We will give a complete overview of our goals for the coming period, before the end of this year.
About QLC Chain
QLC Chain is to resolve the data trust and security problem in the communication industry, it provides network automation of billing/reconciliation/settlement/payment/custody to telecom operators utilising blockchain technology.
QLC Chain offers telecom operators with inter-carrier connection and financial consultancy services as well.
From the ledger structure perspective: QLC Chain supports each account to have its own chain of ledger integrated with telecom service capabilities, named the multi-dimensional block-lattice structured ledger.
From an adoption scenario perspective: QLC Chain’s mission is to create a secure and trusted environment for communication services and to narrow down the digital divide by leveraging Distributed Ledger Technology, enabling everyone to operate and benefit from network services.
QLC Chain solution suite includes:
- A blockchain-based DoD (Data on demand) platform to process inter-carrier settlements in a trustable, auditable and automated manner and enable frictionless on demand commerce and federated network for information and communications service providers
- A blockchain-based A2P SMS settlement platform with its product suite including an A2P SMS settlement solution; Anti-SMS swap solution, and QLC Chain soft-sim identity for IoT devices.
- A blockchain-based DID (Decentralized ID) communication authentication solution which is intended to authenticate, authorize, and access blockchain identities and security properties in network service such as SD-WAN/MPLS/cellular network/5G slicing network.
- A solution that enables enterprises and operators to use crypto wallet and stable coin payment for supply chain.
Learn more about QLC Chain https://qlcchain.org/
