The AMA Room
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The AMA Room

RioDeFi AMA with JamesAnderson

Introduction AMA

Eric: Welcome to the AMA room, James!

James: Thank you for having me! Based on your previous guests, I feel honored to be here:)

Eric: Thanks! curious username, are you really a Buddhist?

James: I am! I believe in creating positive value in the world. When you harm others, you harm yourself. When you help others, you help yourself. The basics of karma run through nearly every religion and ethical philosophy, so I try to generate positivity as much as possible.

Eric: Right on! really cool to see principled leadership in any project.

So can you introduce your role in Rio Defi to the group and tell us how you stumbled upon crypto.

James: Sure, I’m the CEO of Rio DeFi. Rio DeFi is a Blockchain technology company. Our mission is to accelerate the mass adoption of digital assets by bridging traditional and decentralized finance.

Our vision is a world in which everyone has access to decentralized financial (DeFi) services.

I got into blockchains through my interest in economics and my research of gold, silver, and alternative currencies after the financial crisis of 2008. I believe it was 2012 that I really started looking into Bitcoin, and I met Vitalik Buterin and Erik Voorhees back in 2013 at a conference called Porcfest in New Hampshire.

I invested into Ether in 2014, into The DAO in 2016, and over 40+ different cryptocurrencies since then. I believe there are so many different ways of creating value in this rapidly evolving digital economy.

Eric: So what exactly is Rio Defi. Why that name and what does accelerating the mass adoption means in terms of the nuts and bolts of it?

James: Rio DeFi is developing applications that connect people to digital assets, mobile payments, and DeFi services such as savings and lending. Our solutions enable lower transaction fees, faster confirmations, energy efficiency, secure storage, and global reach.

We have Rio Chain, a Substrate-based blockchain that’s interoperable with other chains and the Polkadot ecosystem.

Rio Wallet, which will have an OAuth system to allow users to easily create a digital currency wallet using their Gmail, Facebook, or other social media logins. It will also come with some free RFUEL to use on transactions for our ecosystem of third-party dApps.

Rio Pay is a technology allowing merchants to accept cryptocurrencies to instantly convert and receive fiat currencies.

And Rio Exchange is creating an end-to-end fiat to crypto gateway.

Eric: What is the role of RFUEL in this?


RFUEL is like ETH in that it’s the native platform (gas) token of Rio Chain. It’s spent every time any on-chain interaction occurs.

We intend for our gas fees to always remain very low so as to allow for many different types of microtransactions and scalable businesses to be able to operate effectively over the long-term. We’ve found that some of the businesses on Ethereum basically break when the gas fees or network congestion get too high.

Eric: So Rio Defi runs on Polkadot, why did you choose that platform for the whole project as opposed to Ethereum or Cosmos?

James: We believe that Polkadot offers the best solution for cross-chain interoperability, scalability, and security. Based on their parachain model, it’s possible that they could achieve 1 million + TPS within the next couple years. This would definitely change the entire industry and finance in general.

Using this same model, Rio Chain could have a similar TPS in the future.

Eric: As I understand, the fundraising is ongoing right now. How is the team gonna be utilizing the funds once its closed and done?

James: We’re planning to expand quite rapidly to build out our ecosystem. First we’ll be focused on finalizing and launching the Rio Chain main-net, which is currently planned for the end of September. We’ll be hiring Country Managers in the Philippines, Vietnam, Indonesia, India, Thailand, Japan, Korea, Turkey, and a few other countries, because we really aim to expand the reach of our ecosystem and get everyone familiar with our financial solutions.

Eric: Good targets. digital payments are much more green field in those places.

James: We’ll also be increasing our development team to help support the many companies who’ve reached out to us seeking to build dApps on Rio Chain, or bring their existing dApps over from other blockchains.

Eric: Who would be your main competitors and why are different or better than them?

James: Our main competitor is We both offer a digital wallet, payments, merchant services, an exchange, and a blockchain that interact in a fluid manner. Where we think we can add more value is with our end-to-end fiat to crypto back to fiat gateway that will provide users with access to both DeFi and CeFi in a secure manner. Our chain is also open for other third-party dApps to come build on it to grow the ecosystem together, whereas their chain is primarily focused on supporting their own applications. offers fantastic products, but we think that being built on Substrate and operating within the Polkadot ecosystem will enable us to grow beyond them in the coming years.

Eric: Yes! and the Asia focus would be good differentiators.

James: It’s all about interoperability, compostability (“financial legos”), and scalability.

Eric: A chance to invest early in a very expansive business like this would be very exciting for anyone.

I am gonna open the floor for community questions. Please allow 4–5 minutes then you can start answering the good ones!

James: Sounds great, thanks Eric!

Community AMA

Q: With mission as a bridge between Traditional Finance and Decentralized Finance, So what are the problems of TradFi? In your opinion, what should we do to build a solid infrastructure for DeFi development?

A: Traditional finance has a number of issues, such as slow speeds, high costs, low interest, opaque governance, poor accessibility (many people can’t get bank accounts), and ultimately it’s powered by fiat currencies that can be created by those in power to benefit the few at the expense of the many.

In order for DeFi to challenge the traditional financial system, it needs to achieve better usability, scalability, security, and trust. Every product and service of the Rio DeFi ecosystem is designed with these factors in mind.

Q: Trust is very important in business, what makes investors, customers and users feel safe when working with #RIO?

A: Rio is partnered with Hex Trust, a licensed Hong Kong Trust company that offers bank-grade digital asset storage services for its institutional clients. These assets are also insured. From the moment we start accepting money to build our business to when assets are stored on Rio Chain and eventually withdrawn back to their native chain, we operate in a secure and audited system that uses Hardware Security Modules (HSMs) and multi-sig cold storage solutions to ensure the safety of all digital assets.

Hex Trust | Digital Asset Custody for the Banking Sector

Institutional adoption of digital assets requires a fundamental shift in the way banks and financial institutions…

Q: I’m a white hat hacker in internet, do you think Rio Defi system is secure enough from hackers? Does your project have a program that rewards individual vulnerability detection of the system?

A: Yes, we’ve had our blockchain and key runtime modules audited by CertiK, one of the leading blockchain security firms. We will soon be releasing an announcement about the results of our audit report. Additionally we will provide bug bounties for white hat hackers like you to help improve the security, usability, and efficiency of our entire ecosystem.

Q: I heard that you also launched Instant Loan Programs? Can you explain the benefits and advantages over similar programs in the traditional banking system?

A: Sure! One of the things we’re really excited about it the ability for users to be able to instantly take out a loan using their assets as collateral. MANTRA DAO is a dApp built on Rio Chain that will be offering these kinds of loans. While it does have some similarities to MakerDAO, MANTRA DAO will enable assets from many different blockchains to be used as collateral for instant loans, rather than just ERC20 tokens.

Q: Rio Wallet provides access to payment systems and allows users to withdraw fiat off their crypto accounts. Will I be required to go through KYC for withdraw fiat online or do you restrict with any amount? What is the strength of security/privacy at Rio Wallet?

A: Yes, KYC will be required when dealing with fiat currencies in order to comply with global Anti-Money-Laundering (AML) regulations. We will also be offering debit cards where users can convert cryptocurrencies into fiat currencies at the point-of-sale in order to spend their cryptocurrencies in the real world, both online and offline.

Alongside that will be Rio Pay, which is a mobile payment version using QR codes (similar to WeChat Pay, Alipay, Apple Pay, etc.) or NFC technology to easily make mobile payments.

Q: The current cryptocurrency market involves less than 1% of the global available market, and Rio DeFi said it will help bring the other 99% of the world into cryptocurrencies. How do you aim to achieve this objective of yours and how soon will it be possible?

A: We aim to achieve this by making cryptocurrencies so easy to use that even a grandmother can use them. This happens by massively simplifying the user experience and having integrated services so that the blockchain components happen in the background. With our OAuth wallet creation solution using a Gmail or Facebook account, and free RFUEL pre-loaded into every mobile Rio Wallet, we think our users will find Rio Wallet to be a refreshing experience compared to what’s come before.

Q: Rio DeFi’s vision is to create a world in which everyone has access to decentralized financial (DeFi) services. Which products have you built to help FastTrack achieving this vision of yours?

A: MANTRA DAO and Rio Wallet are the first pieces. More will be coming soon. It’s all about the integrated, end-to-end fiat <-> crypto gateway.

Q: Why should existing blockchain foundations introduce the RioChain Technology into their business, Why should developers choose to build Dapps using RioChain, can you list the benefits?

A: One key reason to build on Rio Chain is that we give 20% of all RFUEL fees back to the dApps that generate those fees. We reward developers for bringing value to our ecosystem. Additionally, we have grant allocations that can encourage people to build on the superior technology offered by Rio Chain, which is a scalable, interoperable, fast, and secure blockchain that can interact with the Polkadot network, as well as directly with other blockchains.

Closing Remarks

Eric: Ok thanks for taking the time James!

Can you invite everyone to your TG and twitter?

Also when is the public sale?

James: The pre-sale and public sale dates have yet to be announced, but will be in the coming weeks. Stay tuned and follow our discussion in our official Telegram channel:

Eric: Awesome. thanks again!

James: Thank YOU for hosting me with such a fantastic community!

Also be sure to subscribe to our News & Announcements channel to catch our important updates —

To join in on the discussion feel free to join our group @amaroom



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