AMA Recap-SimpleChain Global Branding Upgrade
On July 1st, SimpleChain announced global branding upgrade. CoinEx held an AMA with Leo Yu, founding Council member of SimpleChain Foundation. Leo answered questions from the CoinEx community and explained the branding upgrade and more of SimpleChain’s global marketing plan.
Q1. The SimpleChain Foundation has recently made an announcement of global branding upgrade, changing the token name from SIPC to SIMPLE on CoinEx. Why is that?
We made this decision in order to meet the regulatory requirements of U.S. Securities and Exchange Commission (SEC) and Securities Investor Protection Corporation (SIPC), which happens to have the same acronym as our token SIPC.
To avoid confusion and misunderstanding, we’re changing our token name from SIPC to SIMPLE on CoinEx.
In the future, you can refer to SimpleChain’s native digital asset as either SIPC or SIMPLE. Both SIPC and SIMPLE will represent SimpleChain’s native digital asset.
Q2. How will the SimpleChain project and the usage of SimpleChain digital asset be affected by this name change?
This decision is solely for the purpose of meeting regulatory requirements. It will not affect any current or future usage of the SimpleChain digital asset, and it will not change any of the settings and functions of the digital asset on the chain.
SimpleChain’s digital asset, SIPC or SIMPLE, will continue to play a key role in connecting community developers, application users and other participants of the SimpleChain ecosystem.
In terms of marketing, the name SIMPLE will allow us to present SimpleChain to the global audience as an innovative and trusted solutions to simplify the blockchain for business, and make blockchain a simple, open and efficient tool for all.
The SimpleChain Foundation is registered in Singapore as a lawful non-profit foundation, and the SimpleChain digital asset has been classified as utility token by Dentons Law Firm.
This name change shows our continuous effort to be compliant with laws and regulations in different countries/regions, and it will provide us with more leeway when expanding into the global market.
Q3. After this global branding upgrade, what are SimpleChain’s plans in terms of global marketing and expansion?
The SimpleChain Foundation held an election to add Council members earlier this year. We now have 14 Council members based in different locations around the world, including Poland, Middle East, England, and Singapore and Africa. These Foundation Council members have local resources and connections, which will help us launch applications in these areas.
We’ve already had successful applications in judicial system, copyright protection, gaming & entertainment, charity, social e-commerce, tracing and tracking and offline payment. With global resources and connections, we aim to promote more applications integrating the SimpleChain technology with various kinds of local businesses.
Other than that, we are developing training courses for colleges and universities in China, the Middle East and potentially more areas. With SimpleChain as infrastructure, they will learn to develop their own distributed applications, and eventually contribute to the SimpleChain ecosystem.
In terms of community, we have launched the SimpleChain Community Ambassador Program, recruiting ambassadors worldwide to promote awareness, and to grow and educate local communities. We now have a Vietnamese community and a Japanese community, and we hope to see more talents join us in building a global SimpleChain community.
Q4. What performance should we expect from SIPC in a possible bull run? Also How do you handle the issue of risk of the community breaking up when SIPC price falls?
As the application is growing this days, more players would join the community, and the SIPC or SIMPLE we would see them become the real digital resources. The price would certainly become higher than last peak which was 1USD. The falling will only be periodically, the growth will be consistent in a long run. As a team in blockchain for 7years we have seen so many cycles and the believers will make the future together.
Q5. Take goods for quarantine, is there any way one could mark themselves permanately for their donations instead of cracked by someone else?
Sure, by combining the IoT with the blockchain your goods would be traced all the way with the blockchain record keeping system, for us we even have the jurisdiction endorsement for our system. On the other hand, if the token is used for donation, the full record would be trackable and people will not worry about their donation been cracked or intercepted.
Q6. Do you got any plans to issue a stable coin based on SIPC?
We have already issues a stable coin for some special usage. for example the GTC is the one for e-commerce and serving the social e-cermmerce since last november. so dose the BQC for Baoquan.com, and GWC for the Gameworldcoin. For regulatory reason, the replacement for fiat currency in most of the country and region is illegal so those stable coin are only liquidated within their industry realm.
About SimpleChain
The mission of SimpleChain is to simplify the blockchain for business.
SimpleChain is a PoW main chain with flexible sub-chains. Different sub-chains can adopt different kinds of consensus and block data structure as needed, to enable a variety of applications and use cases on blockchain. Sharding is also implemented to improve performance. This double-layered structure of one main chain and multiple sub-chains can fuel various applications while ensuring the consistency of the network.
Built on VeraxChain, SimpleChain’s first sub-chain, Baoquan.com provides record keeping services which serves to keep records of online data and authenticate electronic evidence. In June 2018, Hangzhou Internet Court of China judged a case of copyright dispute based on data stored on Baoquan.com. For the first time in China, the legal effect of the electronic data stored on blockchain is recognized in the judicial system. (News link: https://www.coindesk.com/blockchain-can-legally-authenticate-evidence-chinese-judge-rules)
Find SimpleChain at:
— -Overview — -
Website: www.simplechain.com
Whitepaper: www.simplechain.com/ims/chain/download?spm=1922.1381.010729.122&language=english
Github: www.github.com/simplechain-org
Blockchain Explorer: www.explorer.simplechain.com/
— Community — -
Twitter: www.twitter.com/SimpleChain
Telegram: www.t.me/SimpleChainEN
Medium: www.medium.com/SimpleChain
Reddit: www.reddit.com/r/SimpleChain
Facebook: www.facebook.com/SimpleChainOfficial
— -SIPC Mining & Trading — -
Mobile Wallet-Chainbox (English & Chinese): download available at www.simplechain.com
Browser Plug-In Wallet-SimPlug (English & Chinese): guide available at https://medium.com/simplechain/simplug-guide-sipc-wallet-in-your-browser-c2440843decb
Mining Client on PC-SimpleNode (English & Chinese, can also act as a wallet): download available at www.simplechain.com
Mining Pools
1. SimPool (Chinese only): www.simpool.vip
2. MATPool (Chinese only): www.matpool.io/
3. DXPool (English & Chinese): www.dxpool.com/
Mining Guide with DXPool: https://www.dxpool.com/help/en/sipc-mining-tutorial
Mining Machine: SimpleNode X1 USB mining machine: 2M hashrate, 5W power use. Please contact @Laurenxy on Telegram if interested.
Trading
SIMPLE/USDT: www.coinex.com
SIPC/CNT: www.ztb.com
(Both SIPC and SIMPLE represent SimpleChain’s native digital asset.)
