SparkPoint and FlowCom AMA Session: The Recap
Get to know more about the FlowCom Project and its partnership with SparkPoint
Cheers to the AMA Series last month! And as we move forward to the upcoming ones, let’s have a recap of the AMA session that completed the list of guests for June — the AMA Session with FlowCom Project.
SparkPoint hosted the event last June 26, 2021, with FlowCom’s Co-founder, Mr. Wayne Huang as the guest.
Just a recall, FlowCom is a project that aims to bring 5G to the mass and beyond. Their native currency token, FiG, is now available on the Pool-based Staking and Liquidity Staking of SparkDeFi’s platform.
Now, let’s proceed with the recap.
The AMA session started at 7:00 PM SGT and was held at SparkPoint’s Official Telegram Community Channel, hosted by Mr. Karan, the Partnership and Outreach Manager of SparkPoint.
Karan: Hi Community! It's time for another SparkPoint AMA session-
This time for the AMA, we have FlowCom Project — FlowCom.io is a project that brings free 5G to users.
Today we have Wayne from FlowCom.io.
Hey Wayne, welcome to the SparkPoint AMA session. Please share a small introduction about yourself and what made you start FlowCom.
Wayne: I actually started out in blockchain sphere back in 2015. I was with Blocko helping projects undergo tokenization of their business. So I spent 2 years in Korea and another 2 years in China doing advisory work and public speaking.
Last year, I joined FlowCom because of the niche market in 5G development. What inspired me to join the founding team is the principle that rewards should be shared with users who become part of your big data.
“A sustainable and healthy business in my opinion has to be a 2 way street and I’m very much against exploitation of data. And the main driving force for me to be fully committed with FlowCom was that an actual use-case for its token was already established well before the presale”
Karan: That’s a nice introduction! Are you ready for questions? Let’s go community.
Q&A with the Community
Q: Where does the latest technology your project uses come from? Are you afraid that one day your project’s technology will be obsoleted by other projects’ technology if that happens, How will you solve it?
Wayne: We operate as a Mobile Virtual Light Network operator, as such, we rely on the local Telcos in each countries to ensure fulfillment.
The initial stage for integration with different Telcos was the most difficult and resource-consuming part of the growth of the project, it is however very necessary to ensure a working product and business model. The most important main feature is the deployment of an actual use case that is already completed. Our users can currently swap their FiG points or FiG tokens for 5G data in 8 countries. The stand out factor is that all the utility aspect of our token and tech infrastructure has been built using our own resources and funds prior to the Presale Stage. The onboarding of users are FREE TO USE.
Q: Can you move the FlowCom into another blockchain in the future for example if gas prices get lower for Ethereum?
Wayne: Yes, this is very possible. Whether or not we take this action is entirely up to the community. Over the past year, our key developments are mostly community driven. I personally see that each community member are key stake holders in the project irregardless of the amount of tokens they own.
Q: What are your plans in place for global expansion, is FlowCom focusing on the only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this?
Wayne: Right now we have completed the first stage of Telcos integration which allows FlowCom users to swap FiG tokens for 5G data over 8 countries. Besides making use-cases in the telecommunications realm, we are moving to collaborations and partnerships with reputable DeFi projects to give community members more use-cases for FiG tokens.
“And I must say I’m absolutely impressed with SparkPoint. It’s one of the first partnerships we onboarded. Personally I’m not only a fan but also a Hodler of SRK tokens. The team is ecstatic about our collaboration because we truly see the potential in SparkPoint as well as the current things in which Spark is developing. Our main principle is to do collaborations with project which are tech-focused, getting the key things done instead of just blind hyping. I believe this is a strong and win-win marriage.”
Q: Explain the relationship between SRK and FiG? How will SRK help develop FiG?
Wayne: The opening up of SRK/FiG cross collaborations allows users from both communities to stake and farm for a different asset class. This actions contributes to the removal of circulating supply of the current SRK and FiG tokens, and further establish demand for both native tokens. In a healthy partnership, both projects gets to increase the community members and built a healthy symbiotic relationship. Lesser circulating supply + more demand = _______( you know the answer I bet).
Q: What are your main goals in 2021? Do you plan to list on other exchanges?
Wayne: We are on track for our listing on XT.com in July. Furthermore, we are also listing with BinaryX soon after. Besides CEX listings, the most important segment of growth comes from user adoption of our apps that they continue watch ads from merchants to earn FiG and they continue to grow in strength. We are targeting to incorporate more telcos in more countries to better increase take up rates. We are also launching FlowCom.finance to further give users a basket of reasons to own FiG tokens.
Q: Free 5G for the user. How?
“ 5G free for users but paid for by merchants and advertisers. In short, you watch an ad from the advertisers, they pay for the ad, we share the profit with the users. You get FiG tokens from watching ads or answering quiz questions, you swap the tokens for 5G data in our app.”
Q: In your opinion, can DeFi come into the mainstream of the financial industry, and how does it accelerate the transformation of the traditional financial industry?
Wayne: DeFi will not come into mainstream traditional finance. They are fundamentally different and mainstream traditional finance is all about governmental controls. What’s going to happen is that DeFi will form a parallel economy on its own and do what CeFi can’t. Watch out for CeDeFi it could be the next trend.
Q: Many projects have died because of the bear market and COVID-19, how will you survive this?
Wayne: Use-cases generates demand, generates activities, generates revenue. I cannot emphasis enough on the point of real deployment and use-cases if you want sustainability in a project. You can have a huge meme community and live on the hype for 1–2 years, but with no real applications in place, death is a matter of time. We just have to keep building and building and building. It takes time, people are impatient, community sometimes want to see fast development.
“Remember: Real development takes time, fake developments are instantaneous.”
Q: What makes FlowCom special? How do you bridge the DeFi ecosystem and what future do you build??
“We are special in the telecommunications realm because we bridge 5G with blockchain. We are not the EXPERT and go-to guy in DeFi but SparkPoint is. This is the true spirit of a win-win partnership. You do not need to know everything, you just need to know how to get the right partnerships for the betterment of both communities.”
Q: Many Project talks only about their Strengths, can you talk about the weak point that you project is currently dealing with?
WH: I am happy to be honest about this. One of the main challenges we still face is Telcos integration in some countries. As you know, blockchain/crypto is welcomed in some countries but shunned in some. When we speak with telcos about blockchain integration, some may have a misconception that crypto is bad, speculative and bla bla bla.
“Our job is to make them understand or see that we are coming from a tech deployment level and creating services that benefits ultimately the users.”
The #SparkCommunity and FlowCom Team had a great time sharing the details about the FlowCom Project and its recent partnership with SparkPoint. We’re looking forward to interesting conversations like this with our community!
More AMA Sessions are happening in the upcoming weeks! We’ll see you there again, #Sparkies! 🥳
Learn more about SparkPoint and SparkDeFi from the following links:
Telegram Announcements (SparkPoint): https://t.me/sparkpoint
Telegram Announcements (SparkDeFi): https://t.me/SparkDeFiOfficial
SparkPoint Community on Telegram: https://t.me/SparkPointOfficial
SparkDeFi Community on Telegram: https://t.me/SparkDefi
SparkPoint Twitter: https://twitter.com/sparkpointio
SparkPoint Facebook: https://facebook.com/sparkpointio
SparkPoint Instagram: https://instagram.com/sparkpointio
SparkDeFi Twitter: https://twitter.com/SparkDeFi
SparkDeFi Facebook: https://www.facebook.com/SparkDeFi
SparkDeFi Instagram: https://www.instagram.com/sparkdefi/
SRK on CMC: https://coinmarketcap.com/currencies/sparkpoint/
SFUEL on CMC: https://coinmarketcap.com/currencies/sparkpoint-fuel/