Wolfonaire Chatbox : AMA With Solidus AI Tech(22nd December, 2021)
--
Hello! Wolfonaire Family & Crypto Enthusiasts
We recently hosted an AMA With Solidus AI Tech 22ndDec, 2021 at 01.30 PM UTC. This session was phenomenal. If you have missed then here is the precious AMA transcript, for those who missed the live session this will enlighten you for sure…
Guest Speaker :
Mr. Paul | CEO, Solidus AI Tech
Mr. Will | Head of Business Dev, Solidus AI Tech
(Note: This is the transcription of the event. Please note that the transcript was edited for comprehensibility and coherency, while the content was not changed.)
INTRODUCTION
Liam : Hey I’m Liam I was the business and strategy advisor for the parent company Solidus Technologies during the inception stages and also advised on Solidus AI Tech. I helped raise the initial capital to get Solidus Technologies started.
Im from London, England and My back ground is finance and structuring financial instruments to raise capital for marketing and business growth.
I have been involved in the crypto scene for many years after my good friend Paul introduced me to the market, I became hooked on the possibilities of blockchain.
Will : Hi, Im Will Dyer and have worked with Solidus from 2018 to now and am now heavily involved with Solidus Ai Tech mainly on the marketing side. My core skills are business development, marketing and client retention.
Our other core team members who are busy today include:
Paul is a born achiever and has very high standards in everything he does. He is a passionate entrepreneur and established himself as a successful investor very early on in his career. His main focus was on Property & Fine Art until he was introduced to Bitcoin in 2015 and since then has never looked back. During his career Paul has built a solid network and was instrumental in securing the partnership between Solidus Technologies and Soft Galaxy international. Paul is a forward thinker and identified very early on that Ethereum will be moving from proof-of-work to proof-of-stake which means that mining would no longer be the future for Solidus Technologies and began his research into Artificial Intelligence. Since then he has studied Artificial intelligence at the London Business School and has identified key areas that will be significant for Solidus AITECH in the near future. Paul also owns a Fine Art Company who are taking a serious look at the NFT space. Paul also oversees the overall Marketing efforts of Solidus AITECH.
Liam : The parent company of Solidus Ai Tech Limited, “Solidus Technologies” were founded in December 2017 as a cryptocurrency mining firm with a particular focus on mining Ethereum (ETH) via GPU-based mining rigs.
Before Solidus Technologies launched they teamed with software development company Soft Galaxy International. Soft Galaxy assisted the establishment and maintenance many large-scale cryptocurrency mining projects throughout Europe.
Solidus Technologies raised around $5.7 million via their network of investors during the cryptocurrency market downturn of 2018. The bulk of the investment was used to GPU’s to mine Ethereum.
During the financial crash of April 2020, the demand for AI services rose significantly due to COVID-19 restrictions. Across every industry, the adoption of AI has exceeded predictions for growth. AI is creating new products, boosting revenues, reducing costs and drastically improving efficiencies. The inexorable evolution of technologies has reached the point where there is an urgent need to solve problems with high computational requirements, the solution of which cannot be provided by a single computing unit. To meet these requirements, Solidus Ai Tech has implemented heterogeneous distributed systems of unparalleled computational capacity and has secured a number of partnerships with governmental authorities and corporate entities.
Solidus Technologies’ joint venture partner, Soft Galaxy International have been approved via the European Union for a $3.5 million grant to help towards completing the existing data centre infrastructure and to scale up operations.
Solidus Ai Tech Limited were established in January 2021 as the Artificial Intelligence arm of the parent company Solidus Technologies.
Solidus Ai Tech is building an Eco Friendly High Performance Computing (HPC) Data Centre & an Infrastructure-as-a-Service (IaaS) platform where Governmental Authorities, Megacorps, SMEs and Professionals will be able to purchase Artificial Intelligence services seamlessly via the worlds first Ai utilities token AITECH token.
Wolf : How do holders of the #Solidus Tokens benefit in the ecosystem? What power within your model do individuals hold? Why is it so attractive and what are the basic requirements to participate?
Will : The AITECH Token is the primary way to get access to most of the core services on our platform by holding the Tokens. These benefits are otherwise available to general users. So, in essence, the Utility Token unlocks a lot of value for its long-term and loyal users. In addition, the Platform will offer Staking Rewards.
We incentivise clients to use the AITECH token rather then use Fiat by offering discounts on the price of the services they purchase using the AITECH Token.
We also plan on burning a proportion of tokens every quarter until our I-a-a-S platform is live
We’re building a Deflationary Token Economy, one of our main objectives is to limit and reduce the Token Supply long-term. Towards that, we’ve planned to take several steps. Key being using 25% of our Quarterly Profits to Buy-back and then burn tokens. This process will go on until the Total Circulating Supply comes down to 5 billion Tokens. We’re also, of course, going to offer Staking right after we finish our Token Sale Campaign, once again limiting the supply and supporting the price.
The token is Deflationary in nature and therefore the Price increase benefits, among others will accrue to the holders.
We have a total token supply of 10 billion, out of which we are selling 4 billion in our crowdfunding campaign. The remaining tokens are dedicated to the project with the majority being development, marketing, community building. Tokenomics incorporates a deflationary mechanism and includes buyback and burning to support the overall token growth with time.
So, there is a multitude of benefits for the token holders.
Our mission is build solid community who will support us throughout our journey to success. Our community will be rewarded with the following:
Staking
Following our successful launch we will offer a staking pool which will pay token holders and estimated 7.5% per annum in our AITECH utility token which can be used to purchase AI services when our Infrastructure-as-a-Service platform launches or alternatively the tokens can be held or sold on an exchange for liquidity.
Lottery Air Drop
Stakers will be entered into a lottery each quarter and the winners will be airdropped AITECH tokens until our platform launches
Burn program
Tokens from our launch that have not have been purchased will be burned. We will then burn additional tokens from the circulation supply every quarter untill our platform launches. In addition to this we will burn a percentage of the AITECH tokens that are used to purchase services on our platform to further decrease the circulation supply.
Lock up
The team & developers token allocation will be locked in a smart contract for 4 years with a small proportion being released each year on the anniversary of the launch date.
Wolf : Have you met all your goals in the roadmap till now? And were there any difficulties that you didn’t expect and were not prepared for?
Yes, all goals have been achieved
Covid-19 set us back but only in timing of finishing the electricals and water cooling system
Our Data Centre build is now complete and we are raising funds to purchase and install our AI infrastructure
Wolf : Can you please give us a short tutorial on how even a nontech guy can easily use and enjoy your platform?
Liam : Great question
Our Infrastructure-as-a-Service (IaaS) platform is not yet built but we understand the importance of being user friendly so its easy for someone non technical to request AI services
Simple requests will be plug’n’play whilst with more complex requests we would communicate with the end user. If your looking to purchase the tokens which I’m sure you are I will give you the tutorial below.
You can visit www.Ai-tech.io now
Click the buy tokens tab at the top of the page and follow the really simple steps
Please read all the information as people miss silly things like having the pop up enabled and a lot of people forget the gas fees, the total amount you need to send is calculated on the last page of the payments section.
Simply follow the steps, you will need to upload some identification documents as part of the AML process
Lets move for the Twitter Round
Q1. Can you list 1–3 killer features of Ardor that put it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Ans. Solidus is also a strong supporter of the ‘Crypto Climate Accord’ which is focused on decarbonising the cryptocurrency industry by 2040. Our data center will also run 40% more efficient compared to industry standards due to our IP & evaporating cooling methods, evaporating cooling is 80% cleaner then traditional air conditioning methods. The electricity costs in Bucharest are also cheaper & internet speeds are faster than most countries in the EU meaning we can operate at lower costs and also in a more Eco friendly way then our competitors.
We are the worlds first AI utilities token to be used to purchase AI services via HPC centres like we have built. Our IP allows our hardware to operate not only faster but also more efficiently by using less electricity — this is patent pending
Crypto Climate Accords main objective is to decarbonise the global crypto industry by prioritising climate stewardship and supporting the entire crypto industries transition to net-zero greenhouse gas emissions by 2040
This will be highly beneficial for the entire crypto industry as we can do it faster, cheaper, cleaner and greener.
Q2. Thanks to their significant efforts, Solidus AITECH’s existing hardware operates with 40% less power consumption than the industry average. How do you achieve such enviable efficiency? Does this influence the rates paid by your users on your platform?
Ans. Yes we have designed an algorithm I mention it in the answer above, we also pay one of the cheapest rates for electricity being in Romania with extra incentives being we are located in lazy valley. We pass these discounts on to our end users yes
Q3. Typically, investors buy tokens that are likely to increase in price in the future. I saw that, total supply of the token is huge. So, do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?
Ans. Great question, we have mention burning in the other questions but in short we will burn 50% of the total supply! This will undoubtably support the price and gain further interest to acquire the token on listing which is planned for Q1 of 2022 with Uniswap.
Q4. Solidus AITECH is building an infrastructure as a service (IaaS) platform but I would like to know what kind of customer is interested in the services they offer? Do these customers have to pay in their native token or could they pay for their services in fiat currency?
Ans. We hold letters of intent from various governmental authorities, they will use our service for things like voice recognition, face recognition, smart cities, border controlled suspicious packaging alerts and many more as explained on the videos.
Romanian Space Agency
We will be downloading satellite imagery to conduct geothermal earth imagery along with helping to predict adverse weather
Sanofi — top 10 Pharmaceutical giant
They will use use our AI infrastructure to analyse medical data to find anomalies to help find new cures and vaccines
We will also attract SME’s and professionals, all of which can use fiat or use the AI token for a discounted rate.
Q5. During the 2021 I got scammed a few times, rugs, exit scams etc. — how can we investors be sure that this will not be similar? Do you have reliable team members?
Ans. Yes, there are many scams so you have to be very careful
Our Smart Contract is being built and will then be tested and Audited
We are in contsct with both CertiK and QuantStamp and will be audited by one or possibly both.
Management tokens are locked for 4 years (25% unlocked yearly) which is a sure sign we are looking at long term.
Please checkout:
Our website
Our 3D video:
Our Whitepaper
(Link on website)
See our team members
You will soon see how we are different to 99% of projects in this space — we have real assets already in place 👌🏼
When you have checked us out you should then feel comfortable to come onboard
Here is an overview of our core team members:
Paul Farhi
Paul is a born achiever and has very high standards in everything he does. He is a passionate entrepreneur and established himself as a successful investor very early on in his career. His main focus was on Property & Fine Art until he was introduced to Bitcoin in 2015 and since then has never looked back. During his career Paul has built a solid network and was instrumental in securing the partnership between Solidus Technologies and Soft Galaxy international. Paul is a forward thinker and identified very early on that Ethereum will be moving from proof-of-work to proof-of-stake which means that mining would no longer be the future for Solidus Technologies and began his research into Artificial Intelligence. Since then he has studied Artificial intelligence at the London Business School and has identified key areas that will be significant for Solidus AITECH in the near future. Paul also owns a Fine Art Company who are taking a serious look at the NFT space. Paul also oversees the overall Marketing efforts of Solidus AITECH.
Adrian Stoica
Adrian is the President of Optoelectronica and founder of Soft Galaxy. He has the mission to combine the expertise from two different worlds: hardware and software and deliver a new generation of computing and data processing to the World. This will boost the world’s technological progress into the future, opening new doors for R&D, smart devices, changing the way we are currently interacting with technology.
He is well connected within the AI industry, and works closely with government entities. He works as a Managing IT consultant with international experience and a combination of consulting experience, general management experience, leadership skills as well as entrepreneurship and business development skills. Valeriu-Adrian has broad industry exposure with a special focus on Artificial Intelligence, Cybersecurity, Military / Defence Systems, Blockchain Technology and e-government. He specialises in techno politics and alternative models of governance, with a focus on applications and decentralised architectures for Public Administration and e-government. He is also a founder of an international software engineering company, focusing on Artificial Intelligence and working on solutions for Blockchain Technology. This makes “Adrian” a vital part of the team.
Alexandru Galusca
CHIEF STRATEGY OFFICER
“Retired Brigadier General (Romanian Air Force), squadron leader in Air Force Staff operational units, Chief of Military Intelligence, Deputy Military Representative to NATO and EU. “”Ducu”” has the mission to assure the technology transfer and share his knowledge into Artificial Intelligence applied in the Defence field but also to promote the HPC capabilities within NATO, EU and the Romanian MoD. He is reponsible in implementing NATO standard cyber security policies within the company.”
Marius Opran
TECHNICAL ADVISOR
Marius is a member of the Board of Directors, Chief Scientist Defence, Security, SSA-Romanian Space Agency / Member, EU Economic and Social Committee, Expert NATO-SPS, EDA-EOST His mission is to promote worldwide state-of-the-art projects and new frontier technologies developed by Romanian scientists using his experience and knowledge.
Our board members have either worked or still work for governmental authorities such as Nato, The EU and Romanian National military we use military grade cyber security on all our systems.
Please see our team members above
We take Security very seriously, for your peace of mind our Smart Contract will be audited.
When our AI infrastructure is live they will implement NATO standard security measures.
We have regular quarterly token burns to reduce inflation and whrn our infrastructure is live a % of tokens utilised to purchase services will be burned.
AITECH is a deflationary token 👌🏼
Lets Move For The Community Round
Q1. While you build your project, do you take into account community feedbacks and demands?While you build your project, do you take into account community feedbacks and demands?
Ans. Yes we will always listen to feedback and recommendations as we strive to get better and better.
Q2. What is PROJECT’s revenue model? In which ways do you generate revenue/profit?
Ans. Revenue is generated in 3 ways one is rent our hardware which is what Microsoft are doing, 2nd is via the IaaS platform 3rd is we can build a specific program depending on your requirements , this is mainly for big corporations.
The lowest rate is about £60m pa.
Q3. Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
Ans. We are the worlds first utilities token to be used to purchase ai services vi hpc centres. We already have a shell now raising funds to complete, the contracts are already in place once we are complete the internal build.
Q4. Do you guys feel satisfied by seeing your progresses and achievements till now, when you look back to the day when you have started this project?
Ans. Great question
Yes, when we started our parent company in 2017 there was a plot of land in Bucharest which our now Joint Venture partners Soft Galaxy said this is where your Data Centre should be built
Today there is an 8000 square ft Data Center built and we are launching AITECH to combine AI services and cryptocurrency together
AITECH
We are the Worlds first AI utility token so yes we are very satisfied with where we are and are excited by where we are going
Q5. IS this Your project only for elite investors, how about others with small funds, is it open to everyone?
Ans. Yes it’s open to everyone.
Q6. What is your top priorities in 2021–22 ? Could you share some plans for the upcoming year? Which part of the project are you most focused on right now?
Ans. For us it’s completing the internals of the centre as everything else is in place.
Q7. What are the attractive features in your project? What is the vision and goals in your project that you want to achieve in 2021 and beyond?
Ans. We aim to be a global top 10 HPC, by becoming one of the largest in Europe this will automatically happen for us.
Q8. COVID 19 has slowed down many economies around the world but as a crypto business, does it affect you negatively or positively? Are you still on track to achieve your goals or are you planning a new development?
Ans. It slowed us down slightly on the build bur also attracted more clients who want to use our services like Sanofi.
Q9. What’s your main focus right now, are you focused on the community or market/Exchange or the products?
Ans. Good question
Our main focus right now is getting eyes on our project
We have a substantial raise and the only way we are going to swiftly reach our targets is by marketing
You will see that our content is top notch but without eyes on us this means nothing
Private Sale
We have raised over $3.5m so are 75% to target so everything is going very well 👌🏼
Q10. Audit is important for both trust and security. Have you done any audit of smart contract?
Ans. Our smart contract is being built, will then be tested and audited
Auditing will be via CertiK or QuantStamp or possibly both.
Q11. The idea of project is really unique and incredible, how did this idea come about?
Ans. Great question we started out in 2017 as a eth mining company, we soon realised POW would be outdated on POS and we looked at other avenues are core members work in AI and have ex’s isit of contracts for software development so it made sense for us to leverage those contacts abs make a positive move in the AI space the token was born to serve a purpose of the first token to purchase ai services in the world.
Q12. How can I do my research about your project? Do you have any whitepaper released and can you provide me all the social media links and blogs?
Ans. SOLIDUS AI TECH SOCIAL MEDIA LINKS
*Facebook:*
https://tinyurl.com/Aitechfacebook
*Twitter:*
https://tinyurl.com/aitechtwitter
*LinkedIn:*
https://tinyurl.com/aitechlinkedin
*YouTube:*
https://tinyurl.com/aitechyoutube
*Telegram:*
https://t.me/solidusaichat
*Instagram:*
https://tinyurl.com/aitechinstagram
- Reddit:*
https://tinyurl.com/aitechreddit
Q13. “Stacking” is one of the strategies to attract and retain usersusers. Sir, do you plan to stack the Great Platform?
Ans. I think you mean ‘Staking’
Yes we will be launching a staking platform where quarterly stakers will be entered into an Airdrop Lottery
The APY is variable and we expect it to be around 7.5% APY.
Q14. Increasing Token price 2- make Token Valuable 3-Building Community Trust From 3 aspects above,. I want to ask,. Which one the most important for you?? If all above are important for you,. Which one that Will you do first?
Ans. Number two has already been done! Building the community we are doing now and the price will increase over time with its popularity and the burn program.
Now the session ends with lots of thanks to our Guest Speaker…
Here are some important links of Solidus AI Tech
Website | Twitter | Telegram | Wolfonaire Family Chatbox | Wolf
