Crypto

Lennix Lai – OKEx Exchange Transcript

Lennix Lai - OKEx

Note: This transcript was automatically generated by artificial intelligence (AI) and therefore typos may be present.

Rob McNealy – RobMcNealy.com
Hey folks Rob McNealy here. And today, I’m pretty excited. We are talking to Lennox law. He’s Director of Financial markets of the oke x exchange. And they’re one of the biggest exchanges in the world. And I’m really excited to see what they’re up to. So Lennox, how are you today?

Lennix Lai – OKEx.com
Hi, Rob. Yeah, sure. I’m really appreciated as we on the call. We were happy to see you folks here.

Rob McNealy – RobMcNealy.com
Well, so, um, let’s just jump right in here. And, you know, tell me a little bit about Okay, x hat, and how did you get involved with the crypto exchange world?

Lennix Lai – OKEx.com
Yeah, my other background, the traditional finance background. So basically, I was a quon trader in Hong Kong for around 10 years. So I’m, I’m also kind of like compliance and regulatory guys in Hong Kong. So, like three and a half years ago, that’s where we’d like to join. Okay, yes. Because Because the okay group back in the time, would like to expand the exchange business internationally. back in time we are, we’re actually very big in China already. We overing Bitcoin Exchange servers for local currency, that becoming one of the best one of the biggest crypto exchange in China already, and we would like to expand to the international market. So that’s the reason I joined and starting to build and branded as the name of Okay, yes, the Okay, x name, actually very benchmarking Hong Kong exchange is also called H key x. So we will lie to branding, our exchanging expertise, and also the traditional financial knowledge, so to brand in the world to bring crypto to traditional finance. So that’s how it gets done for Okay, it’s like three and a half years ago.

Rob McNealy – RobMcNealy.com
So what would you say some of the biggest challenges are of running an international exchange right now.

Lennix Lai – OKEx.com
So we are actually one of the earliest player in the field. So back its time we gather a lot of good player like pinole nacer, but Phoenix, Khan base already in place cracking, that’s all the big we’re, we’re accurate, very, very small compared for we’re the biggest player back in the field. So good. So we think we we are facing several challenges. First, we are primarily and very, very Chinese based exchange. So everything in terms of the team in terms of the product, in terms of the gods are all very, very Chinese. So we have to change the entire organization style, the language or the culture within the organization. So if you think about it, every every, every anyone will ever run come in your thing that would actually agree that changing the culture changing how an organization work, can put upside down use agile for football. So bringing the international value and international culture back to your very China exchange is the most complex and complicated task that we ever engage. And also, we we do have a lot of problem on our product. So so we have to SM be a team with the financial known edge cells to completely redesign for every single aspect of all okay, yes, from all across all our products, spot derivative, so everything else from the gods. So I think that might be yourself a big challenge we we come across, but at the same time, we are facing regulatory challenge all around the world. So that we have the assembly of really big compliance teams to tackle regulation everywhere, and apply proper licensing and getting the proper sandbox in crypto. So while we’re talking to regulators, we have splaying of this as well to convince that we are trying to be a good guy. So we have to, I think, in general, we, we are actually building a rocket, but at the same time we are driving a Ferrari. That’s, that’s the whole that’s the summary.

Rob McNealy – RobMcNealy.com
Well, you know, I like Ferrari, so that’s good. But so what would you say the, the biggest challenges from a regulatory standpoint, at least geographically, which countries are the hardest ones to work in?

Lennix Lai – OKEx.com
Yeah, I think back in time, like 2017 2018 our, I think all the Gulf Money can’t like being skeptic or some, some of them are actually quite hostile to, to crypto or to virtual currency. They have no knowledge at all to what’s going on in Bitcoin area. They are actually interest but they think that virtual currency or crypto actually engage a lot in unless it activities, anti money laundering. There’s some of the areas that regulators are mostly very concerned. And at the same time they’re trying to fit in, they’re trying to bring crypto try to explain crypto in a way that the current regulation that they’re already implementing, they’re trying to fit and crypto onto their current regulation, which is very difficult. So. So back in 2017 2018, most of our job is to explain to our regulators, to all those regulated, hey, this is crypto, this is just some kind of digital xx. And this is some kind of a digital asset that we would only allow KYC people to buy or sell, and exactly like a meeting your financial standard that your AML standards, so to explain all those stuff to all kind of regulators. So we starting to see some progress. So we see the US come over digital as a framework. We see some of the government like multiskilled, Malta government to have a virtual currency framework. We see Korea and Japanese government, they do endorse and have some kind of regulation related to cryptocurrency after after the industrial of commitment for around two years or more.

Rob McNealy – RobMcNealy.com
So would you say is there a particular jurisdiction that’s been harder to work with?

Lennix Lai – OKEx.com
I think there’s no jurisdiction that is hard to work with as long as they they are open to talk about are they’re not being hostile companies shut the door. Most of the jurisdiction I would say they would eager, eager to learn were, were very eager to learn from the biggest player in the field. They will like to understand they of course, they will raise a lot of question. But each of us have the jurisdiction of particular friendly, like a Singaporean governments and the Korean government. And even the Maltese government actually quite proactive to want to draft local regulation or specific regulation just for crypto. The other jurisdiction, I think they are very interest, they would like to bring in the crypto, the crypto xx into debt, the security law, or the derivative law, they are interest, but at the same time, they were actually very difficult for them to to actually blend in the current regulations.

Rob McNealy – RobMcNealy.com
How do you see things like the travel rule affecting your operations?

Lennix Lai – OKEx.com
I think the travel rule did actually spend spent a lot of effort for us to completely redesigned out how the how the AML KYC would be implemented into into the current operation. So before that is accurate, we don’t need to, we only need to worry about the global standards update our KYC AML AML. But travel rules actually means that we have to specifically design our checking procedures for all the European biggest customers across the field. I don’t think that is a trouble a big problem to our operation. But it’s just caught one of the costs of the business if you want to play the field with the big boy, we want to be a global platform. That’s just part of the cost of operation. We’re happy to pay for that.

Rob McNealy – RobMcNealy.com
So do you have much of a footprint you would say in the United States at this point?

Lennix Lai – OKEx.com
We don’t have we don’t allow us customers at the moment that is fun. It’s fun time.

Rob McNealy – RobMcNealy.com
Is that something you’re going to do in the future? You think you don’t have to look if it’s proprietary you don’t have to answer but I was just curious is that on your roadmap?

Lennix Lai – OKEx.com
Actually we do have a partner exchange as you belong to a similar group is called okay con. So a ready get up basically orderlies in in us say over the open to the US customers. So it’s really completely different platform is that is basically a partner with Okay, yes. But only that the product that available on Okay, Khan platform is very very different than OKEx, but the technology and the and and the matching engine is using similar technology OKEx.

Rob McNealy – RobMcNealy.com
Actually got the one of their marketing guys is coming on my show on Wednesday. This week.

Lennix Lai – OKEx.com
That’s awesome.

Rob McNealy – RobMcNealy.com
Sure. So yeah, it’s gonna be fun. And so I think, you know, that’s always fascinating to me is, you know, how, you know, the regulatory piece of this looks from the inside. Like I always say, when I’m when you know, I’m kind of mixed, are kind of in a weird position, because I also have a project, but I’m also you know, and you doing a podcast and things. So it’s like, when I see crypto from a very different angle on because on the project side, you see, you see the world very differently in crypto when you’re working inside of it. And, you know, you see all the warts, and, you know, the good and the bad all the way around. But I always like to hear, you know, what does it look like on the exchange side, because, you know, there’s a lot of there’s a lot of, you know, unscrupulous exchanges out there. And I can tell you, having dealt with several of them in the past myself, and so that’s why I’m always interested in you know, the more legitimate exchanges like okay, x in what they’re doing and how they’re handling it. So let’s shift gears a little bit. You know, there’s, there’s a lot of exchanges out there. That seemed to be dodging regulation as part of their business model. I’m not gonna name names. Mm hmm. But there’s some exchanges that you don’t even know where they’re where they’re domiciled.

Lennix Lai – OKEx.com
Mm hmm.

Rob McNealy – RobMcNealy.com
In the row, and so since you don’t know where they’re domiciled, and it’s even interesting, even with smaller exchanges, you know, you go look up try to look up information on the exchange. And on coin market cap, it says they’re based here, and then you go to their website, and it says, their base there and you never know where they’re really located. And, and so that’s always kind of a red flag for me, is, especially at the centralized exchange, because they’re not you don’t know where they are. So there’s supposed to be a centralized routing, that correct, there’s no central location to go. And I’m not saying you should go after people, but, you know, you don’t know who these people are, in some cases or where they are right. And it seems like some of these exchanges are doing it deliberately to avoid complying with you know, international regulations. Again, not going to name names but how do you guys compete with that?

Lennix Lai – OKEx.com
We don’t need to compete wave the wave this some the exchange was smaller Sykes Chang that’s trying to doubt regulations, okay. He exists 1000 people group already so we cannot doubt any regulation, we actually equally comply to the jurisdiction that we allow to surface that we offer our service, we cannot we have to we have 1000 people to be responsible. But for all the other smaller sigh exchange, they have the reason maybe they have the reason to, to try and get up regulation as much as they can, because some of the really small sites chain is kind of like us using hidden ranch approach. They just want to open a small exchange trying to grab the users based on can’t if there’s some trouble there’s as close down and reopen Yeah, in another one using similar technologies. And so, so, so, of course, I would like to invite other users to be aware of the of the of the of the really, really small size exchange, and they you and you basically apparently you cannot find where they are they do they do not have a register overs, or they do not have a property you may you don’t need to know where they base, they don’t show up on time. So, and some exchanges do not have a long history with short history you you have to be be aware of that because talking about central exchange, meaning that all the crypto acts act as an custody with the with the hand of the founding team or the wallet team. So so so actually, you carry a lot a lot of counterparty risk, if you will lie to trade with them. So girl someday, some of this most exchange also do not have a high priority or high high scrutiny of the project that allowed it to list on the exchange. Most of the exchange mode most of the project is required to pay a huge sums of listing fee in order to get listed two bonds of small exchange that grabs exposure users, traders as they can and try to win the way in in a relatively short period of time. The the opening exchange in terms of module cars is relatively easy. But running an exchange operation with proper cyber security Republic compliance team, the proper operation team is take the years of years of efforts. So I would also always to emphasize the SSA only focus on the major exchange in the world because they already there they have the history and and and protecting your crypto execs from millions of millions hacker in the world is not an easy task. It’s a date and day by day commitment. So we we care a lot about our reputation, we care a lot about regulation, we have to comply everywhere in terms of regulation. So it’s I don’t think it’s the as a direct competition with us, compared with the other smaller exchanges.

Rob McNealy – RobMcNealy.com
So right now the the best I can see there’s at least probably, I don’t know, 500 exchanges out there right now floating around. And there seems to be more popping up, you know, every single day. And there also seems to be a lot more decks is kind of in various, you know, stages of development. Oh, how do you see the market for exchanges in the future? Do you think centralized exchanges are going to be you know, the most popular? Do you think dex is going to become more popular? Do you think there’ll be more exchanges out there fewer exchanges, what do you think your? What do you think the future is gonna hold that way?

Lennix Lai – OKEx.com
Yeah, I think I think that the potential with DAX is actually for interesting. So that’s can be the only problem for DAX maybe before or, or for this few years, as people have been talking about. It’s mostly related to the capacity, the technological capacity of whatever chain, whatever blockchain that you’re implementing. So but we see silver these years that we see a lot of breakthrough in the under underlying technologies that have a huge promise on on the TPS, that transactional per seconds, right now, per blots. So those look like that DAGs, if they can manage to handle a search even a certain portion of the trading volume, that’s currently our central exchange is currently trading per day, I think that would give us an interesting use case potential to crypto so that everyone will would able to trade universally. And also everyone collects their own token universally, and that technologic technology is free. It’s open source. So everyone would have the capability to operate to open it DAGs and, and and eventually, everyone can compete with each other with a unique event age or unique appetite to different tokens. So tasks can be can be very interesting. Can I think if somehow, if the technic tech, technical side, transform your technical side becoming really promising, like the TPS reaches certain thresholds, and it’s safe enough to be trustable to two to four traders, and the UI and UX the user experience side of using das has been substantially improved it the tags in terms of trading volume and the size can could be grows exponentially. But while the central exchange, I think that’s still play a very important a crucial role. In in crypto in crypto x RP uses carry a lot of expect in in, in, in in define. So for example, like center central exchanges do are happening to having a lot of products very complex product that’s basically right now cannot cannot able to cannot able to undertake by the tax for now, for example, like derivatives of perpetual swap, we’re talking about millions of millions of borders or of thousand thousand trade per days, but it cannot be executed with our proper high frequency matching engine at this point moment.

Rob McNealy – RobMcNealy.com
So essentially, as the technology improves, and maybe you start getting these non custodial cross, you know, chain indexes, those are probably increase over time, but it’s just not quite there yet, I guess.

Lennix Lai – OKEx.com
Yeah, I think I think it’s getting a lot faster right now, but per lepromatous standing, we’re talking about some of the Kings don’t care about thousand TPS compared to 20 or 30, TPS in one or two years ago. So if it is go around two or three times more, I think we can handle probably on spot exchange ready. And some of the really, and, and I’m talking about some of the DAX, that’s able to manage derivatives, if they are able to manage the liquidation engine of the derivatives under this certain time of DAX under that under, under, there’s a dow around 1000. TPS, that will be so interesting because because read when you’re talking about highly leveraged Chang, when the market is move, you have to execute and use, you have to send your orders in the blink of a second otherwise, otherwise, you’re you’re you you would trigger Casa de liquidation or you create, you create problem of trouble in onto your problem, I’ll do a platform. So that I will be very, very interesting to see that how does handle highly leveraged instruments?

Rob McNealy – RobMcNealy.com
It’ll be interesting. What’s your take on the latest sushi sandwiches and hamburger de fi products that are out there?

Lennix Lai – OKEx.com
Yep. I think that everything is everything is looking to be right now is having having an insanely high yield for some of the token, I think, in general, I think is an other way for distributing token or distributing newly the newly minted token to user this looks exactly like the another way of the Ico or default token in 2017. Or, or or or the ieo. That that changed initial offering is a new or or B. I think it does vary because airdrops so whoever carrier one token you got, you got a candy. We’re called airdrop tokens free token from the token. So similar mechanism. The ultimate purpose is is also a sales of my own newly minted token. But what defy or sushi or hamburger was over sashimi is actually having a mechanism in place, meaning that you have to stick one token first, for for an for an odd token in order from any other token. So that would that actually the sticking components normally is over collateralized, meaning that you have to deposit more token first, in order to in order means or farm, relatively smaller size of token. So the risk compared to other risk compare if the other the other? The other mechanism dies? The other distribution mechanism? I think that would be a lot a bit a bit more healthier to token holder. And I think that define innovation would last for really a long time. I think. I think I agree. The the either inflation rate or youth right now is insane is not sustainable. But the way that how we understand defy the way that people are interesting participant divide a project that allowed it or that we would be perfectly to participant divide would be becoming a really, really hot trend for for upcoming years.

Rob McNealy – RobMcNealy.com
I think the future is going to be very interesting in this space. I you know, I’ve haven’t been shy. I’ve been saying that this, in many respects is Ico 2.0. And, and I just hope that the fallout that comes out of this is good innovation. But it’s gonna crash back down. Right? I think you said it too. It’s not sustainable. What we’re seeing out there, but what I’m hoping is that there’s new innovation in the technology is and I’m hoping that’s what comes out of this. But I’m afraid we’re probably gonna get a lot more regulatory scrutiny from this, as well. So it’ll be interesting to see how it plays out.

Lennix Lai – OKEx.com
Yeah, you’re you were there. You cannot deny that every new maybe new technology or new money or new new way of thinking has to be crazy from chaos. So So these kind of define chaos, this might not be sustainable. The river market corruption. Now were they there Painful correction to their way might be a rousing, regulatories good knee, as you mentioned, but eventually these kind of token distribution method would be an interesting insight for the upcoming define development. So people will actually think about, hey, that’s going to work. But if we want to do it sustainably, I think we have to change it to certain matter. And that will become a healthy growth order for the industry.

Rob McNealy – RobMcNealy.com
Totally agree with that? Um, so where do you see crypto changing in the next couple of years? What What do you think will be the next big innovations coming out and say the next three to five years?

Lennix Lai – OKEx.com
Wow, that’s Sir, I would. I would, personally Personally, I would the very exciting dad’s similar model as in Filecoin, that people can actually share data on chain and tray, that data on chain with the development of fire codes so far gone, it just might be a spark of the entire fire. So, so similar project lifelike on even what your tablet data privacy, your personal data that can be exchangeable, or, or your physical might be stuck with storage, you can just tray, or buy, or sell your own personal storage within every kind of computer that can be traded or transact, via on trading. But these economic and trading mechanism would be an interesting insight or interesting. Hence, for the other data driven industry. So people can sell everything if they carry a data. So fire icon might be the success of the fire gone, hopefully, would become a very interesting development for crypto for the next three and a half, three and five years because right now, if I can sell my idle storage, either virtual drive online, like like a cloud based server, but but so that I can basically sell everything I can using the exact similar mechanism, or similar blockchain or similar token omics to say everything that have data currently available. That’s might be the beauty the very first through adoption for blockchain technologies.

Rob McNealy – RobMcNealy.com
I think that’s very interesting. And, and I think there’s gonna be a lot of interesting use cases. For instance, I really have a library, you know, library credits, I like bat is doing the brave browser, where you actually are developing ecosystems that are using the crypto. And I think that’s important. And even with our TUSC project, that’s what our focus was, is is, you know, getting people to use the coin, not just speculative hype. And and I think that will be the future. And I think the big or most, I think some of the the products that are most likely to be mass adopted in the future are going to be ones that you don’t even think about right now. They’re they’re going to be ones that just slowly start building up an ecosystem where people are using their coin for a practical purpose. And to me, I think that’s really important. So I guess that one last question for you kind of wind down? Do you think there’s too many assets? Do you think that there’ll be more assets in the future, like more blockchains more coins? More tokens? Or do you see that that over time, that’s going to consolidate down?

Lennix Lai – OKEx.com
Um, I would say, bro, for To be frank. So I think the the barrier of cause of issuing or maintaining or creating tokens for hype or speculations, whoo, still be there is this part of the crypto ecosystem, but but when you when you get speculate more people will lose money. And people getting smarter and smarter, when it gets smarter. And when they get the a lot, a bit more cons cautious, a lot a bit more conservative, they were looking to they would be tend to be looking for the true nature, the true adoption of certain tokens. So that money will be will be really concentrating back into 1% of top 1% of the token to actually bring the value of the world that we’re starting to look at fundamental. So I think I would say New token was still there. There were a lot more, getting a lot more sizes. But but growing, so going from yours, right took about one two years or more. I think the capital, or the capital that all catered to crypto access will be mostly or heavily concentrated to a real project eventually.

Rob McNealy – RobMcNealy.com
Yeah, I think so as well. I think what I’ve said I’ve said this in my circle of friends is that the first kryptos does start getting a real adoption even, you know, Nish adoption, not even mass adoption, but just niche adoption are gonna eventually change the way the speculative part of the market values those projects

Lennix Lai – OKEx.com
Right , correct.

Rob McNealy – RobMcNealy.com
How I see it is you have billion dollar market cap projects that don’t have any customers.

Lennix Lai – OKEx.com
Correct. You’re right. You’re actually you absolutely right. I think people right now is like looking for answer right. If you can save a spark to fire and you provide true answer. You got all the you got everything. You get all everything that’s pay people for speculate money. We’re just crunching and advice to your own projects.

Rob McNealy – RobMcNealy.com
Exactly. Linux Ly, where can people get ahold of you? Sorry, how can people find out how can people reach you?

Lennix Lai – OKEx.com
So I think you can basically reach out now traitors and my email is Linux at okay yes.com You can find my traitors that us as well. So you can reach out anytime. I’m happy to answer all the questions.

Rob McNealy – RobMcNealy.com
Thanks. Thank you so much for coming on the show today. I really appreciate your time and I’ve learned a lot.

Lennix Lai – OKEx.com
Thank you, Rob appreciate, talk to you again. Thank you. Thanks so much,

Rob McNealy – RobMcNealy.com
You have a great day.

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Joe Roets – Dragonchain Transcript

Joe Roets - Founder and Chief Executive Officer of Dragonchain

Note: This transcript was automatically generated by artificial intelligence (AI) and therefore typos may be present.

Rob McNealy – RobMcNealy.com
Hey folks Rob McNealy here. And today I am super excited. I am talking to Joe Rhodes he is one of the founders of Dragon and coin. They are project been around for some time and i think it’s it’s gonna be a really fun show. So make sure you listen to the whole show because I know you guys out there. He listened for five minutes and then you shut it off. You got to stop doing that stuff, because I can tell that you’re doing that stuff. All right, I really can’t. I’m just guessing. But anyways, Joe, welcome to the show. How are you today, sir?

Joe Roets – Dragonchain.com
Thank you. Thank you very much. I’m great.

Rob McNealy – RobMcNealy.com
So, let’s let’s just jump in here, man. You know, typical questions for a podcast like who is Joe rotes? Tell me about yourself.

Joe Roets – Dragonchain.com
Okay, um, I’m..I’m I grew up in the Midwest. I’m a 25 plus year, software architect. I’m all about software all about open source all about scaling software. And I’ve worked for Lockheed. I’ve worked for Disney. I’ve worked for a lot of interests. firms that that had interesting projects that attracted me. And I came across Bitcoin, one of my guys brought it into the team in 2010. And we looked at it started playing with it, experimenting with it, doing a lot of different interesting things, some stupid, some fun, you know, we’re really early stuff. And this is the only time of namecoin and and you know, way before aetherium and way before much else was out there and ended up jumping around between a few different startups, you know, because I was very interested in the tech and and specifically in its philosophical value, you know, where, why, where it came from, why it was even there. And then ended up at Disney to build what became dragon chain and the Disney released from you know, from in its its own in in enterprise to the world and You know, after that we commercialized.

Rob McNealy – RobMcNealy.com
So tell me about that. So it was initially a Disney projects that got spun out. So did they just open source it? Or was it you know, something that was always kind of that open source community kind of thing? What’s the relationship there now?

Joe Roets – Dragonchain.com
We originally built it, it was very much an experiment is very, you know, very much a bunch of us that were interested in the tech and how we could use it inside of Disney. Um, but I, I knew because we were in, we were working inside a W three, see their blockchain group two, you know, basically explore enterprise applications, and you know, what can be standardized and everything else and we, we ended up realizing that, you know, all these other entities, you know, IBM, Microsoft, a lot of the other groups, some of the banks that were in there, were interested in how we were doing it because what we were describing was stuff that they hadn’t been able to do Because we started from scratch, we didn’t work, Ethereum we did aetherium didn’t exist when we started. We didn’t work Bitcoin or Litecoin, or anything else, we literally started from the beginning. And we had you know, I’m, that’s the reason I even say that I’m primarily a software architect, I’m a software guy. And these things that are patterns in all systems, that’s that’s what I focus on. So I find the, the abstractions inside of a software system that can either make it more flexible, make it more scalable, make it more secure. And I applied that across the board to know basically blockchain and crypto that’s what dragon chain is. And when they realized that we were using devs, that that weren’t blockchain devs they were the devs we already had and that they were able to come in and just build stuff. When we were able to show them that we could actually scale in a radically different way than what they had seen. If I was able to then take some of their questions that we couldn’t answer, because it was all in the inside back to Disney and say, Hey, can we, you know, go through a process and you know, try to source this and you know, they had they already had a process in place. And so it just, it made sense. It made sense for Disney, it made sense for the project, and it made sense for, you know, our working with these other groups. So, that’s how it kind of ended up and yeah, they basically we went through and it’s, it’s now you know, we’ve made it public the process we went through, but it’s, it was a pretty intensive and interesting process that was involved legal involved patents, trademarks and involved the code itself security. And you know, making sure we pulled out proprietary code and things like that, but they just open sourced it and part of that they have a really interesting process that they they have to hand over the code To the person on the outside, and typically, it’s somebody who’s still working at Disney, and who, whose manager or VP sponsor has basically said, Yeah, you can spend every Friday working on this or, you know, something like that. And with with our team, we had a team that was cross a whole bunch of different business units. And so our sponsoring manager didn’t have anything on my time. So we had to, like broker deals between the groups and stuff like that and on Viet on the way out, when they’re going to hand it over to me personally. I asked them, Hey, can you guys approve me to create a foundation so we can, you know, say that will own the IP will own the code? So won’t be Joe, you know, and it worked out. So it’s pretty interesting.

Rob McNealy – RobMcNealy.com
So what did you intend for your blockchain to do was there like a specific problem you’re kind of trying to solve with it?

Joe Roets – Dragonchain.com
Um, enterprise adoption. If that were the Specific because core capabilities of blockchain and cryptocurrency being proof that something happened at a particular point in time, you know, and that being the core of what even Bitcoin actually gives, is used to, you know, in Bitcoin is that is used to prevent double spend to, you know, to provide scarcity, but it’s all related to the fact that that block can with with a measured amount of security, you know, that’s an actual measurable amount of security that’s been applied to whether you trust that these transactions occurred between these two points in time. And so, you know, we basically were looking okay all of the core, abstracted cases capabilities of the technology itself blockchain. We wanted to to leverage in ways that you know, you couldn’t do with time with Bitcoin and you couldn’t do when aetherium came out, which is, you know, any any reasonable business is not going to put customer PII on chain. They’re not going to, you know, there’s HIPAA data, there’s, there’s all types of things they can’t do. And we wanted to make all of that possible. And to make it much, much more straightforward for a real business to use.

Rob McNealy – RobMcNealy.com
So how did it end up working out?

Joe Roets – Dragonchain.com
Um, we did. We also want on the inside. I mean, we did over 20 different use cases. We did a lot of different things. Some of them were, you know, internal hackathons and things like that. But there were a lot of groups that were that were using and building and when we open sourced, we went for a year, fully on just straight open source. You know, managing Community Education trying to, you know, figure out what we needed to work on most. And in that year, we realized that the actual rollout and scaling, you know, it was, it was missing, the ease of use factor, the, you know, the architecture is very simple, it’s easy to code to, but to deploy it on, you know, the model that came out of Disney was a large, very large organization that can run all of the nodes themselves if they wanted to, because they have enough business units that you have the diversity, you know, so that all of the enterprise can see, okay, these are the transactions going through everywhere and all that. But we very much needed it to be a situation that if someone wanted to build something, they didn’t have to worry about the verification network, right? That that it would be provided for them. And so that’s why we commercialized and we, you know, created an entity and, and really decided to, you know, build an network and to build the infrastructure to allow people to deploy more easily.

Rob McNealy – RobMcNealy.com
So you build something from scratch which you know which in blockchain is kind of weird right everybody just kind of forks an existing code base that’s been vetted and beat up a little bit. How would you say dragon chain is different than say the base the code base for a theory amor, the code base for you know, Bitcoin or some of the, you know, graphene based block chains.

Joe Roets – Dragonchain.com
Um, it is it’s an interesting thing because like all of the pho policy would have for saying, Okay, I’m going to create my own are not necessarily clickable because we are definitely not coding our own encryption or coding or you know, any any of the cryptography is all, you know, used for outside. So I wouldn’t want to say that it is more than anything a structural peace, where we, for one thing, there are a lot of different things about it. That it is primarily just software and that at every level of our consensus process, we are actually working with independent nodes where every node has its own blockchain. And the consensus is not it’s a hybrid network. So the consensus is not universal. That is, I own my own business I haven’t I have a business node that I’m either ledgering transactions on or I’m running smart contracts on and I can keep that you know, by default is fully private on and the only thing that moves up through consensus is the the protocol elements, which are the you know, basically the wrappers. So my payload itself is fully controlled by me I can expose it publicly if I want, but I’m for a regular business. It’s very fitting all the the same models apply that it’s as if I’m working on a on a server, and I’m storing my stuff there. I’m using it but the difference is that the wrappers around what I’m doing are all going through a six six separate dragon that nodes and then a combined security of aetherium and Bitcoin and aetherium Classic and whatever else we’re entertaining with the time on, which is for the proof so now I can basically show vendor or you know, later the courts if I’m getting sued, I can show somebody, this is exactly what happened and you don’t even have to trust me, you can actually you can actually do the math all the way up to Bitcoin and aetherium. And, and, you know, we we really, from the early days, knew that we wanted to leverage the tremendous hash power of Bitcoin and at any other network, but also the utility that is, um, you know, especially early on when we knew that You know, the ability to entertain with stores or with saya coin or any, you know, any of any of the other important utility networks that we could add as well as traditional that, you know, we’ve done plenty of integrations with RESTful API, very traditional systems that because of our model, it’s remarkably easy. And they are our time to market or most of the projects we’ve been on are really short, really fast build outs. So it’s pretty cool. And it also help with scaling. Because then the fact that every node has its own chain means they can all be independently scaled. They can they can run in with full cloud environments. And Gosh, yeah, is this a really long answer, um, the good the other. The other side of that is when you get into that, one of the other very unique pieces that most people Don’t don’t get yet is our actual scaling is based not on hardware because we’re, we’re cloud based. So we already knew that we could have ended up if we’re trying to incentivize people to run nodes that we have diversity there, that you could have a race to the bottom. Because, gosh, I’m just going to deploy it to Amazon, I’m going to throw up enough nodes to handle 80% of network and undercut everybody on my, my, what I’m going to accept you charge for fees, right? And in order to prevent that, we flipped the scarcity on its head and said, okay, instead of saying hardware scarcity, where you know, most blockchains out there, if you have more transactions coming through, there’s hopefully more fees usually, and therefore more people will procure hardware and put it in place and build a network, right. And you hope that it’s sustained traffic, so that If the person doesn’t know, the fees continue and the traffic continues. And the issue is the time between the traffic start, and when people can actually deploy hardware, which, you know, if it’s in cloud, it can be pretty quick. But, um, it’s not immediate, right? And in particularly, you know, if it’s not something that’s easily done in cloud because of your requiring hash power or anything else, it’s even more difficult. So, what we did is we took what was called DDS s, which was a slumber score, which is a time based component to our token. So if you hold a one dragon for one day, you get one time. If you hold a million dragons for one day, you get 1 million time for that day. And we take that time and that’s the scarcity. So all the nodes in the network competing based upon how long they’ve held how many dragons And they get more of the cut but on the other side the the the radically in at least to me interesting part for for adoption of scalability is the fact that the more time I have as a business that I want to apply to my node, the lower my fees are right and so it but it’s a deterministic fixed price fee for every transaction I sent through and the token price inside the system adjusts every month based upon market but to the general business user, they don’t really care they’re basically I’m gonna pay my you know 5000 10,000 a month for my node or nodes and I know that I have at least this many transactions and I know that the transactions will not go up in price that I won’t have trouble getting a transaction on chain or anything else no matter who else deploys on network right the you know, crypto kitties comes out, it doesn’t kill me. You know, defy comes out. Kill me right cuz right now it’s it’s really hard on aetherium to do business um, and it’s really unpredictable you know minute to one minute to next but with with Dragon chain you know that if you lock in the feed the fees and your lowest fee right now is 2510 millions of $1 per transaction and so you can lock in that number and you know when you have these you know you have the 500 million transactions you’re going to have this month that is absolutely going to be at that fixed price you don’t have to worry as a business you don’t have to worry about getting lunch chain all that’s cooked so..

Rob McNealy – RobMcNealy.com
So would you say it’s so can you launch a token on your your platform on dragon is there is that part of that or are you do not do smart contracts the same way.

Joe Roets – Dragonchain.com
Um, we do smart contracts and we do have tokens and we have something that we’ve termed a wormhole tech. It’s basically Consider something as, consider a theorem as a different, different universe and a theorem classic is a different universe. And maybe I don’t know what other preferred, you know, maybe EOS or somewhere else that I might have a token that we can map them back and forth. We do that with Dragons. That’s how dragons operate already where we use aetherium for its ecosystem, its token standards and security, right. And it means that we didn’t have to build our own hardware wallets. We didn’t have to do a lot of things. We were leveraging Ethereum for that utility. And you can do that already. We’ve had quite a few people do it. And we’ve we’ve helped out a lot with that. But it’s a it’s a, it’s a scaling question for that right where, you know, there’s no reason instead in many cases for every single transaction to be on aetherium instead If you put it on dragon chain it’s secured to a theorem and secured a Bitcoin and so you can prove all that but then when you’re actually integrating like say is a game that you know the game can be played you could you could roll this into a normal game where there’s no blockchain sold as part of it, but when people realize, Oh, I have this, this device this sword this, you know something that that I have accumulated enough of and maybe I don’t need this one or something else that I can realize at that point. Oh, this is crypto. You mean I could sell this somewhere? How do I do that? And they say it’s an adoption question because then you can get people to play your game without them already being crypto people which is such a you know, nice have a nice have a nice to get normies to play it but then to attract normies into your token, where they’re like, Oh gosh, I’m gonna I was already having fun. Now I realize I can make money doing this right where that At that point, that’s when you integrate with the crypto side and the others cost involved where people pay fees or whatever else. But at that point, it’s it sets its own threshold. Right that you know, right now, you’d have to have a lot more value in a theorem to exit in order to make it worth the fee. Right. But kind of depends on how much is sitting there.

Rob McNealy – RobMcNealy.com
Well, I know I’m going back to when with our project with TUSC. When we started out, we weren’t eath token and it for us the nail in the coffin to build our own blockchain and move away from a theory was the F coin debacle two years ago, where they were just spamming the Ethereum blockchain and like it is right now. The cost to move tokens costs more than the tokens people wanted to move because of the transaction fees, which makes no sense to me and I have a lot of strong opinions but because I’ve been in as a project for a couple of years now as well, and, and I just It doesn’t make sense to me the way his theory was designed From a usability standpoint, and it’s like it, there’s, it’s baffling to me how they came up with the system the way it did. But, you know, it’s, it’s fascinating. So I always like to talk about what I when I talk to people that are developing projects and stuff and how, how do you get adoption? What is your strategy to get people to use dragon chain to build things on?

Joe Roets – Dragonchain.com
Um, well, we’ve gone through a number and some of them were, you know, you can get into libertarian side of things with, you know, we our initial piece to the engine was to have what we call the incubator or early on became dragonscale, which was supposed to be a very clean way to get incentivized input from people on the outside as to which projects should be moved forward. Right. And so there’s some funding to that, but there’s some selection to that and attention and and had a lot of really key features where it would have flatly solved a lot of the problems that the SEC is concerned about or other regulators were, you know, how do I avoid people? You know, how do I avoid exit scams? How do I avoid you know, and we had all that cooked in where it’s very clean way to be fair on both sides, where you know, early information, if, if it is correct, could be well rewarded, right. So, you know, people are incentivized to not lie, people are incentivized to end in on the other side, the projects are incentivized to actually deliver, because they don’t deliver, they don’t get their, their distributions of, you know, whatever the funding is on. And we had to pull back for some of that for us based on which was sad because that was clearly an advantage for adoption between a lot of interested parties. And we’re trying still to find we have a new take on it, that we think we could launch in the US but It’s not a top priority right now. And we we, we are actually actively looking actively looking for partners to do it internationally, you know that whether it’s for grants or other selection, but you know, VCs would be kind of primary. But right now what we’re working on is simply scale, you know, to be the the the system that can actually compete against traditional systems for scale. And definitely Trump them on security, and various other features that, you know, blockchain makes, you know, it’s pretty obvious and in that world, and so, you know, we’re really focused there and you know, we just launched a new pricing table where you know, we’d wanted it updated for quite a while. We’re now at transaction fees anywhere from $1 on the high end to, like I said, the 25/10,000,000 of a dollar and we’re getting a lot of interest because of that, and a lot of people are starting to realize what’s possible. And we’re also trying to do a lot of things that might to some seem a little bit you know, like they might not understand but you know, we launched launched on den den dot social and that’s basically a community forum that is native blockchain. So everything on the back end and there’s mining, and we really are trying to build out stuff that people can use both normal people and enterprises, right. So, you know, we just launched dragon factor my five which is a decentralized identity system that the back end has been operational for over two years. And you know, we’re just now Okay, we want to productize this now. We want other people to be able to use this like we have and and we have some really interesting aspects that we found a partner that could help us with some of the integrations that, you know, frankly, were more, you know, banking focused, you know, the typically things that banks do with identity were needed. But we were rolling in the ability to do it in a decentralized way where the user holds their own identity factors and can’t expose them as they wish, right? They don’t have to expose everything, they can expose just the smallest bit of information that passes whatever the business wants needs. And, um, you know, we’re basically, I mean, our strategy overall is very fundamentals based where we build and build and build and we figure out, you know, what does someone need we build it, we figure out okay, what would be a good demonstration of that capability, we build it and we’ve done it enough. I mean, we have a couple of systems that really are well used. You know, we get a lot of Transactions on eternal as an example people saving tweets and saving out various arbitrary information that they want to be able to prove later, you know, make some prediction on bitcoin price. I’ll put it there. And I can prove to you that is not just a screenshot that I photoshopped, you know, it’s this is literally data proven to, you know, hundreds of millions of dollars worth of security, you know, so interesting stuff like that. I don’t know. It’s hard to cut through noise though. There’s so much noise out there right.

Rob McNealy – RobMcNealy.com
And it’s only getting noisier isn’t it?

Joe Roets – Dragonchain.com
Yeah. Yeah. And all the all the speculation and all of the that that I you know, sometimes that’s a big complaint that I have.

Rob McNealy – RobMcNealy.com
Right, I hear ya. No, opinions, right? What do you think of DEFI?

Joe Roets – Dragonchain.com
I don’t want to, I don’t want to say anything early. Right. I mean, I saw the Fenton. We always played the Fenton thing yesterday on our show, because it’s so well done. If you haven’t seen it explain DEFI, you know, but my take is I think that there has to be, and I’m too busy to really research projects, like I used to, I used to know everything about everything coming out, but, you know, there weren’t as many then either. There have to be, I would make, I would put money down that there are at least a handful of amazing projects in that space, right. And stuff that’s really needed. That’s really well done. And it’s an amazing future. But somehow, they get cut, you know, they get they, they lose attention to, you know, 10 Ds and yams and stuff, and it’s just, it’s crazy, and it’s not good for the industry. I don’t think that stuff, right. Um, and, you know, it’s always the thing where money is such a powerful driver to all of this. And the reason I even got into this, I’m a software guy. So the reason I got into this is this was frankly, the most exciting place to be in software forever, right? That’s the next near the next closest would have been, you know, Linux and open source itself. And you know, that’s very general thing but it’s funny because Linux is very much about liberty. Right? And whether you talk to Stallman or you know, it’s very much about Liberty This is such a key component. And basically Bitcoin embodies that Bitcoin is radically so you know, I’ve talked before about how the fact that it has I say this it basically enslaves humans it incentivize humans to such a level that it’s the most massively focused on processing in on earth is Bitcoin mining it you know, blows away supercomputer metrics and everything else because there’s a money driver. And so the key that, that the world missing is at least that this industry is missing is keeping a balance between that and the fundamentals. Because it’s so easy for something like defy to come along with like, Oh, it’s a way to make money, it’s going to go up next week. All it matters is a green bar. It doesn’t matter what it does at all. And there’s, there’s, you know, there’s value to that, because it can drive people to be interested. But the problem is when people are lazy, and they don’t actually research or they buy tokens, and don’t actually try to, you know, the real incentive should literally be if you hold a token. And based upon your holdings, really, you should be focused on how can I help those projects? Because literally, that is the best thing. It’s not good to say I bought this token or what are you guys doing? Right? Why is this token not for real? Why is this token price not going up? as well? It’s so backwards. It’s like, people shouldn’t be lazy. You You hold it,in our case, our tokens, our software licenses, literally they are modeled from the beginning. We even have a patent on that, on that the token model as a software license that it was supposed to be the answer the licensing answer to what happens right now with commodity compute, you know, with Amazon, you shouldn’t be paying monthly still, you know, it you should be paying as part of and you know, the fact that you are paying for however much CPU use on fits, and we just tokenize that and so if you’re holding dragons, you should be actively seeking integrations business, even marketing, whatever your talents are, right? Um, but a lot of people get lazy and you know, it happens on all projects, you know, where people just want it to go up and you know, it’s, yeah.

Rob McNealy – RobMcNealy.com
Well, I always say you can’t bank on people not being lazy. In fact, I think the reverse I think you have to build systems. That is assumes that and then tries to figure out how to incentivize those people. Because I mean, we’ve run into the same thing right telegram group, why not go up or whatever it’s like it’s it’s pretty interesting. I do agree with you, I think, you know, people should do their research should do homework and, and should be more active and supporting. I’m just I’m not sure that’s realistic.

Joe Roets – Dragonchain.com
It’s like, I could see that, um, it’s the weirdest thing though, because you think about it. Most businesses, they have customers and the customers have their products and they don’t care otherwise. Right. But, um, you know, Apple and a few other few other companies have had something where it’s almost like a cult where people will actively promote for for no money, right? So there’s some there’s something psychological there on the intent, though, of, of crypto is that the the incentive is built in you hold that you actually own the token. Nobody can take it away from you. You You should literally be as incentivized as possible to actually try to promote, and sometimes you can see it, but it’s not maybe fun. focused, right, anyway.

Rob McNealy – RobMcNealy.com
Well, it’s interesting because, you see, I say success breeds success, right? Like if it’s starting to become popular that people want to be a part of that and talk about it. It’s that’s that tribal mentality, I think, and even with us when you know, our project, I mean, we’re not anywhere near where you guys are, but it’s like, you know, we can see when we have an announcement or you know, something cool really happens. It just gets people excited and they talk more about it when things are boring or low or not going the right direction. People get quiet about it. And I think part of that with crypto, you know, it’s it’s about that tribal identity and people want to associate with the winning team. They don’t want to they want they don’t want to associate with losing teams. That’s why it’s like you know, Bitcoin maximalist right I mean, you know, I’m not a big fan of Maxis on any project but if you look at Bitcoin maximalist it’s like okay, well you just like went to the number one football team and then you signed up for them and you’re there chiller. Well that’s that’s lazy, you know that, you know, it’s just like, okay, just sit there yay, yay great number one team keep going, you know and it’s like there’s more to it than that. But I do I mean I do appreciate your time and I think this is it’s good stuff and I and I you know I I’m gonna be doing a little more research and dragon I haven’t, you know, you in you know, inspired me to kind of do my own research here and and spend a little more time looking at what you guys are doing because you are doing some different things. And I think I hope the listeners here will take a look at dragon chain as well and see what you guys are doing. And you know, I hope in the future, you guys can come back or you can come back on and let me know when you got some cool, you know, projects happening or some cool announcements. I’d really like that. So, Joe, where can people find out more about you and dragon chain

Joe Roets – Dragonchain.com
Dragon chain.com primary we also do various things on den Deus social. And you know, you can reach out to us on telegram. I mean, there there are multiple official and unofficial telegram groups and multiple languages we have. We even have multiple language layers now and dim dot social so people can at least read about and ask about dragon chain in their own language with their own, you know, people that can answer directly so it’s pretty nice. And there are a lot of places I guess.

Rob McNealy – RobMcNealy.com
Joe, thank you so much for coming on the show today. I appreciate your time.

Joe Roets – Dragonchain.com
Thanks Rob.

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Nicolas Hernandez – Fantasy Gold Transcript

Nicolas Hernandez - Fantasy Gold

Note: This transcript was automatically generated by artificial intelligence (AI) and therefore typos may be present.

Rob McNealy – RobMcNealy.com
Hey folks Rob McNealy here. And today I am talking to Nikko Hernandez. He is developer out of Columbia, South America, or Central America, wherever that is. And today we’re talking about their project, which is pretty cool. It’s called fantasy gold. So welcome to the show. Niko. How are you today?

Nicolas Hernandez – FantasyGold.io
Good. Good. Thank you very much for having me. doing very well. Thank you.

Rob McNealy – RobMcNealy.com
Unlike most Americans, unlike go like most Americans, I’m geography independent, or geography illiterate man, I’m having a bad day today. So, where are you in Colombia?

Nicolas Hernandez – FantasyGold.io
This is South America and Central America.

Rob McNealy – RobMcNealy.com
You know, it’s like I’m having a long day.

Nicolas Hernandez – FantasyGold.io
It happens, it happens. So, we’re in those channels, about two hours outside of Bogota.

Rob McNealy – RobMcNealy.com
So when you think of crypto and tech hubs, you don’t normally think of South America. Am I right?

Nicolas Hernandez – FantasyGold.io
Correct. So although meta gene is becoming a really big tech hub actually met again is considered one of the most tech advanced cities in South America. There’s actually a couple of blockchain companies there exchanges and other other types of projects, no coins or tokens that I know of. But there are some some blockchain companies that are doing wallets and exchanges and things like that.

Rob McNealy – RobMcNealy.com
That’s very cool. It’s interesting, because I go to a lot of conferences, and I talk to a lot of people. And it seems like South America and Africa are like the two regions, then you don’t hear a lot about crypto from yet. And I do think that there’s a lot of potential in those different markets. But before we kind of jump into all that, kind of tell me a little bit about who you are, how did you get into the space? What do you up to how did you first hear about crypto and what got you into doing a project?

Nicolas Hernandez – FantasyGold.io
Sure. So let them doing things on the internet since 96. So back when AOL was the thing, and it was just started trying to creep out and getting to the mainstream before DSL, and all of this other stuff. So I was doing network setup, server rooms and that sort of thing. And later on, I got into, you know, doing some purchasing and selling of source codes, you know, closed in source codes, like, maybe there was a, I would look for projects that were marketable, but maybe the developer had kind of lost the passion for the product, something that I might see a market for. So I started buying and selling source code to things like Facebook apps and you know, other websites and things like that. So then, later on, we also started a security company. So we started security company here in Columbia. I was running for quite a number of years, doing a lot of network and access security control for big corporations, government installations, that sort of thing. And then there we kind of decided to close that business. I started looking at, you know, I wanted to do a fun project. And one of the fun things that I learned to do in the States was actually fantasy sports. So I hired a team of guys and we took about a year year and a half to, to develop a fantasy sports platform. So if you think like fanduel or DraftKings, you know, we were modeled basically after those those sites and became a successful business in terms of white label actually had a lot of companies approached me and licensed software from me and they would throw on their front ends. Then use my back end. Later on, I decided I want to launch my software, the software that I that I had built, and I want to show it to people. And you know, at that time PayPal and the other traditional type of processors were really getting, you know, stringent on who they will allow in. So and they were even freezing some accounts. So I didn’t want to have to deal with that. And I had studied a little bit about blockchain already. At that point, I had already bought some Bitcoins. I had some masternodes from a few coins, like small coins. And so I was always already interested in it as an investment for myself. But then I thought and I said, Well, if I can’t use PayPal or one of the other mainstream, you know, credit card processors, you know, this is a perfect use for this. Then anybody can play this play on the site. You don’t have to have a PayPal account or credit card to play if you have some digital currency you can play and, and, you know, enter into contests and tournaments on the site. So that’s how we that’s how we kind of started it out. So we initially launched in July 2017. So we’re running out three years now on the blockchain.

Rob McNealy – RobMcNealy.com
So where do you see it? going? What is your ultimate kind of goal for this project?

Nicolas Hernandez – FantasyGold.io
Well, my goal always has been to build a full ecosystem for anyone wanting to do fantasy sports eSports, any type of gaming because the way that I see things going is I feel like there’s going to be these small niche industries that have their own coins, right. So you don’t need it doesn’t have the same type of coin. You know, there’s there can only be one won you know Bitcoin or Bitcoin cash whatever camp you belong to there. You’ve got, you know, your aetherium, which has its its use case, of course, great model. And, you know, coins like dash and pivots. You know, I see those is like the umbrella type of currencies and then everything down below there should have some sort of ecosystem some reason to, to want to, to have that coin right, not just to buy it and oh, I hope it 10 X is next week or next month. You know, you’re going to buy a token and Okay, what can I do with this token? Now? Can I play a video game? Sure. Can I bet on fantasy sports? No problem. You know, can I do eSports? Absolutely. So, you know, we’re trying to make something that’s use case oriented, not just hype, and, you know, we’re gonna have this great stuff sometime in the future, you know, so That’s that’s kind of where I see us going. And hopefully, we’ll be able to track some additional developers since our chain supports smart, smart contracts and tokens. So we’re hoping to showcase some some good products and that we’ve made here in house. And hopefully that will inspire some other developers to say, Hey, you know what, maybe instead of Ethereum or Tron, maybe I should think about making a token on fantasy gold. Because, you know, that’s where, you know, maybe they have, you know, an audience that’s already going to appreciate what I have to offer, you know, the product or the app that I’m building.

Rob McNealy – RobMcNealy.com
You done some innovative things compared to a lot of other smart contracts platforms, I think namely with interoperability with other block chains. Can you talk a little bit about that?

Nicolas Hernandez – FantasyGold.io
Sure. So So obviously, we have, you know, the important component there is going to be the Ethereum virtual machine, right so in our chain, there Also in a theory and vote virtual machine running on the network, which supports the contracts. And the we didn’t do anything to the protocol other than rename it for a naming convention on the chain from ERC 20 to FGC 20. So you can basically decide, well, I have a Tron token. But I also like to have a nfdc token, you can copy paste your, your your smart contract into the compiler, grab the byte code and paste it into your FGC wallet and submit the contract and now you have a token on on both chains.

Rob McNealy – RobMcNealy.com
So are those tokens and would they be a duplicate token on each chain? Or is that just meaning that your ERC 20 token is now completely compatible on the fantasy gold blockchain?

Nicolas Hernandez – FantasyGold.io
Yeah, it would be essentially two separate tokens. But for example, if you have a Tron token or an aetherium token and you’re worried about things like gas network times. You know, it might make sense for you to just say, Hey, you know what, instead of a theorem, I’ll just, I already have my code done, I can just copy paste and, and, you know, create my my token on the on the FGC chain.

Rob McNealy – RobMcNealy.com
So if I was gonna say swap from an ERC 22 and FGC 21, how easy is it for the exchanges to adopt that and then track that.

Nicolas Hernandez – FantasyGold.io
So basically with a swap for the exchanges to do that. If they support FGC chain, if that’s already listed on that exchange, all they have to do is add a single line to their configure file. And they’re able to support FTC 20 tokens, right? So it’s not a complicated thing for the exchanges to do. And the the address that in exchange gives you. So your typical FTC address that you generate, whether it’s in your wallet or on an exchange, that same address is also you can also be used for tokens to send and receive tokens. So for the exchange for an outside exchange, this should be a fairly straightforward process. And then we are also right now we’re in closed beta, and we are adding FTC 20 tokens to our own exchange. So if there was a swap, we would also you know, be willing to help to help people facilitate those swaps on the exchange.

Rob McNealy – RobMcNealy.com
When is your exchange launching?

Nicolas Hernandez – FantasyGold.io
Well, like I said, right now we’re in closed beta, I have some UI issues that I’m not happy about, you know, I want things to to update in real time without refreshing. So we’ve got most of the market parameters doing that now. And so I think right now, we’re just looking at finishing up the CFTC 20 tokens, hoping that this week, we can finish that and start testing those. And hopefully we can also clean up the UI a little bit, and get it ready for the initial public launch. So hopefully, one to two weeks, we might be able to open up to public beta and start, start seeing some transactions going on there.

Rob McNealy – RobMcNealy.com
So is your project a centralized project or a decentralized project?

Nicolas Hernandez – FantasyGold.io
Decentralized, very decentralized. You know, we didn’t sell the big Ico and hold back a lot of coins. You know, team members, that current team now that’s holding coins, they own coins, because they purchased them, they weren’t giving anything in an Ico. And so there’s not, you know, a centralized control over those things, you know, 99% of the tokens that are in production now or out in the market now or owned by the community. So and we also So in 2018, we received the letter of opinion that we are a decentralized utility, not a not a currency, not a coin.

Rob McNealy – RobMcNealy.com
So is there a foundation or any kind of Corporation behind this? Or is it just completely on chain governance?

Nicolas Hernandez – FantasyGold.io
Just completely on chain governance. You know, at, at some points if we get some, some commercial success in some of our projects, you know, corporations will have to be set up, you know, to pay in any legal taxes required and, you know, whatever jurisdiction we’re operating in at that point.

Rob McNealy – RobMcNealy.com
So, how does your blockchain play with others in the sandbox?

Nicolas Hernandez – FantasyGold.io
How do you mean?

Rob McNealy – RobMcNealy.com
So, you know, how do you deal with for instance, you know, with Bitcoin, I read somewhere, you guys have some, you know, functionality crossed chain that can work with the Bitcoin blockchain. Can you talk about that a little bit?

Nicolas Hernandez – FantasyGold.io
Sure, well, the coin is essentially Bitcoin using the unspent transaction, and it has the aetherium EBM sub module. So there’s a sub module in the chain in the code that handles all of the Ethereum type of virtual machine requirements in c++ so that it works with our Bitcoin Bitcoin based blockchain. So it’s basically Bitcoin but with an added instead of, you know, doing your typical proof of work mining, it’s proof of stake. So the nodes the the users out there who are staking coins, they’re they’re the ones that are processing and verifying transactions. And then, you know, the block reward is handed out to 10 people in the staking pool who’s ever staking out That time individually, you know, when a block is created, it gets sent out to 10 people for for the block reward.

Rob McNealy – RobMcNealy.com
So where are you in your roadmap outside? I know you said you’re in your beta right now closed beta for your exchange. Where are you at the blockchain in the crypto community piece of this? Or do you have any kind of integrations right now or any partnerships of note? That would be interesting to hear about?

Nicolas Hernandez – FantasyGold.io
Yeah, I don’t know which names I can mention. We are speaking with a, an Esports group that has a pretty, pretty large following. They have a token on another chain, and they, you know, they’re looking at switching over to us, we’ve been in talks with them quite a bit. I’ll actually help them put their token together, the way that they want it to be done, and they’re, they’re hopefully going to swap over from their token to an FTC 20 token here shortly. Where Have the partnership with FTC arena, which, you know, they’re getting some some things worked out on their end, both internally and with the site. But once they do that, you know, FTC arena will have its own token. And so other than that there are some partnerships with potential partnerships with, you know, other developers who are either thinking about or already have done something in blockchain and are are considering looking at us for for their chain to run their tokens on.

Rob McNealy – RobMcNealy.com
So in your ecosystem, I mean, it seems like you got a couple things going on and just help me understand. So you have your own crypto that is traded already on exchanges and things and you would like that to be used for say betting or in sports game, you know, in sports eSports you know, in game purchases and that kind of thing. But then you also have this separate, you know, smart contracts platform where other people can build the Their own tokens on the back of your network. Is that correct?

Nicolas Hernandez – FantasyGold.io
Kind of Yeah. So FTC, the base currency, as, as I guess I would call it the base currency, the base coin is FTC. And so if people would like to adopt FTC and use FTC on the website directly they can. So we’re trying to provide those tools, you know, the necessary JavaScript libraries and web three libraries to do all of that stuff. A lot of that stuff is in our GitHub already. But, you know, essentially, if they don’t want to use FGC, and they want to create their own token, then they have that option to do so they can very easily and very simply just, you know, make their own token and deploy it and use that instead of the, instead of the base token, it’s the base coin itself.

Rob McNealy – RobMcNealy.com
Would you expect that people that are building tokens on your network would be like Largely also used in the esports arena? Or are you thinking that they’ll just be used for anything? I guess what I would think about is like, Is there a risk of cannibalization between your existing base currency and these other tokens if they’re both kind of focused on the same space?

Nicolas Hernandez – FantasyGold.io
Not really, because so for example, we have draft daily that was running successfully for quite some time, we were actually the first crypto that had an actual functioning and working daily fantasy sports sites. Even before the others while they were still in planning. We came out with the product first. That was actually working. So let’s say we decide okay, well, we’ve got a little bit of time too. And we have sports back Of course, we will need sports to come back. So if sports comes back and we relaunch draft daily, we’ve already have our draft dollars token on the chain for that site. If another fantasy site wants to come in and make their own token, that’s fine with us. Maybe they provide a different user experience. Maybe they provide a different way to play the game different rule sets that they like better different sports, you know, anything that they want. That’s different. The, the fact that there’s two coins, two tokens, they’re on the same space, trying to compete for kind of the same customers. not that big of a deal, because at the end of the day, just like a theorem, you, you have to pay a gas, right? So in our chain, if you’re doing transactions with tokens back and forth, you’re paying a gas, but in this case, the gases FGC and that gas that’s spent on those transactions, whether you know, you have Rob’s fantasy token and draft dollars token, if I’m doing transactions and playing on one or either of the sites. The user still have to have some FTC in their wallets to pay for those transactions. And those those fees, those transaction fees that are in FTC, actually hundred percent of that go back to the staking pool. So for example, our block reward is five FTC per block. Well, if you have some transactions mixed in with that block, that block could be seven or eight. And it’s going to go out be divided up to those 10 people that are up next for the staking reward. So you know, you’re creating an ecosystem that benefits everybody, the holders, the takers, and at the end of the day, the individual apps, it’s dependent on them to make the user experience that the users want to play with, you know.

Rob McNealy – RobMcNealy.com
So are your transaction speeds are they pretty fast? How fast is a confirmation on your blockchain?

Nicolas Hernandez – FantasyGold.io
So block time is approximately two minutes right now, but The transaction speed is very fast. It’s almost instantaneous. So, for example, in beta testing the exchange testing withdrawals was obviously very important. I would say, in less than five seconds from you clicking the Submit withdraw and it being, you know, allowed through the admin. You’re going to see it on your desktop wallet. Nice. Yeah. So it’s, it’s um, I mean, I don’t I don’t want to use words like instantaneous but it’s it’s pretty close to it.

Rob McNealy – RobMcNealy.com
So gas I we were with Tosca originally and eath token and then we built on blockchain. And in gas was a pain in the ass on a theory and in fact, gas is one of the main reasons we left a theorem. Have you done anything to differentiate how you guys treat gas then say aetherium is doing or is it the same kind of, you know, same kind of complications.

Nicolas Hernandez – FantasyGold.io
No, it’s um, well in aetherium, you know, you have aetherium, which is the base coin, you have your token, and you have your gas. So they’ve introduced this third thing into the equation. So we in our system, get FCC is the gas. So there’s no, there’s no third piece to the puzzle. Which, which helps things quite a bit makes things a little bit more leaner and, and a little, a lot less complicated. So you don’t have to have a theory of mind gas and your token you have just your token and your FGC.

Rob McNealy – RobMcNealy.com
Well, that’s how it is on a theory. I mean, you just a theory is the gas on the Ethereum blockchain. So..

Nicolas Hernandez – FantasyGold.io
Right but on a theorem, can you also collect gas separately? You can separate your gas now Okay, then now it’s a

Rob McNealy – RobMcNealy.com
Yeah, so yeah, it’s a theorem is the gas that It’s interesting. gas is really complicated. Like if you go like, like that. I mean, it really is, you wouldn’t believe how many developers don’t understand gas. And I’m not a developer, but I understand gas. It’s like pretty funny. To me. And that was one of the reasons I don’t like a lot of smart contra. I’ll be honest and nothing. I haven’t even looked at your stuff yet. So as far as your blockchain, but I think that’s one of the things I think from a usability standpoint about smart contracts platforms is you need a separate gas. And or, you know, you have to use this underlying base currency to run tokens around. I think there’s a usability issue. And I don’t know what the solution to that is. You know, I always thought it makes more sense to me if the tokens could be moved across the blockchain in their own currencies so that users and users don’t need to buy two kryptos to move the one token, for instance. So if that, to me, I think there’s a huge barrier to adoption out there with smartphones and this is not just a theory It’s most of the smart contract platforms either have the same issue, right. But we thought that it would be a lot better if the gas was built into the native token. And that somehow, then the token could settle out with the base blockchain for paying for the transactions. So that end users didn’t need to buy the additional coin to run the grass. I don’t know the solution to that. But it just that was one of the problems we hated about a theorem. And even our own developers. It’s amazing when you get into the people that are developers don’t understand how a Ethereum gas works.

Rob McNealy – RobMcNealy.com
Yeah, timeout transactions and things like that, especially with when you’re building the app. So we built two D apps. When we were a token, one to distribute our tokens and one to swap our tokens on a blockchain and the gas was a big hang up for most people like trying to deal with that piece of it and setting it and make sure you have enough gas and but making sure you’re not spending too much gas and Things like that. So I don’t know, I don’t know what the solution is for that.

Nicolas Hernandez – FantasyGold.io
But well, when the difference, then between us and Ethereum would be the cost of the coin and the gas fee. So we try to keep the gas fee pretty low. It’s actually 40 SATs is I think it’s well, we have it out right now. And in the gas fee itself for for these transactions. So 40 SATs in aetherium versus 40 SATs and fantasy gold, you’re looking at quite a price differential there in a fixed fee. Yeah, no, you know, it can be adjusted. So for example, part of the decentralized governments of the chain is we can actually change things like gas fees without having to do any sort of soft fork or any any sort of major upgrade.

Rob McNealy – RobMcNealy.com
That would that’s I think that’s I think that’s a smart move personally, because the value of the token goes up, you’re gonna want to keep that fee low.

Nicolas Hernandez – FantasyGold.io
Right? And you can in within the wallet itself, while you’re while you’re sending tokens, you can change the gas fee, you know, you can pay a little bit more, you can pay the absolute minimum, you know, all depending on, you know, what the user needs to do or accomplish for that transaction.

Rob McNealy – RobMcNealy.com
So, how many tokens have moved over? So far from say, a theorem to fantasy gold,

Nicolas Hernandez – FantasyGold.io
So far, zero? So right now, we’re just in talks with a few people. You know, the last 12 months for blockchain, of course, has been pretty, pretty, pretty, pretty brutal for some people. So I think right now, we’re just kind of regrouping after that. After that, that that 12 month period that a lot of us have gone through, and we’re starting to get the name out there again, you know, We didn’t since we didn’t have a huge marketing budget or Ico for marketing. You know, we don’t have a huge amount of followers like, like some other coins. So, hope hopefully once that starts to take off and more and you know, through things like this great podcast here. You know, we can attract some more developers that will that will consider using it.

Rob McNealy – RobMcNealy.com
Well, I hope that that works out. So Nikko where can people find out more about fantasy gold.

Nicolas Hernandez – FantasyGold.io
So we have our main website, which is fantasy gold.io. And that website, just off the bat is actually in the process of being completely reworked. We have some things that we want to add to the roadmap update the roadmap and the overall design, away from fantasy sports specific genre over to a more generalized fantasy sports eSports gaming, that sort of thing. And from there, you know, our discord kind of great community right now, the mods, they’re very nice and pretty nice tip bot going on going around. So anybody that wants to join our discord, you’ll find the link on the website. And, you know, just come in, hang out and you might get some free FGC from people throwing around rain tips.

Rob McNealy – RobMcNealy.com
Wonderful. Niko, thank you so much for coming on the show today, folks, we’ll have all those links listed up at Rob McNealy calm. Make sure you hit that subscribe button. As always, it’s been great talking with you and thanks so much.

Nicolas Hernandez – FantasyGold.io
Okay, thank you, Rob.

Episode Links

Audio Interview
Video Interview
Interview Transcript

David Liebowitz – Everipedia Transcript

David Liebowitz - Everpedia

Note: This transcript was automatically generated by artificial intelligence (AI) and therefore typos may be present.

Rob McNealy – RobMcNealy.com
Hey folks Rob McNealy here. And today I am super excited we are talking to David Leibowitz, he is the Vice President of Business Development for ever pedia. And ever pedia is this new online not so new anymore, but it’s an online encyclopedia similar to Wikipedia, but it’s built on blockchain. And that’s what really gets me excited about these kind of new applications. So, David, welcome to the show. How are you today?

David Liebowitz – Everipedia
I’m doing great. Thank you for having me, Rob. Really excited to be here.

Rob McNealy – RobMcNealy.com
Well, I’m excited to have you here too, because I’ve been a big fan of your project now and tell me a little bit one. Let’s go I always like to back it up. Yeah, who are you? And I’m not gonna ask you how did you get into bitcoin? But how did you get into tech? How did

David Liebowitz – Everipedia
How I get into tech? It happened really by accident really, very naturally. So I’m originally from New Jersey. I grew up in the northeast went to school in Massachusetts, and I’ve always been a writer I got really good at writing in college, and that’s what originally led me to ever pedia. So I wrote a different blog. I’ve always been on the internet and stuff. And then ever pedia kind of came out to me out of nowhere. And I just started writing ever pedia pages, the encyclopedia entries. I’ve never pedia so I write about, you know, current events, you know, you know, I would call them evergreen pages. So I wrote a lot of like about up and coming musicians. I like I was doing a good enough of a job. They’re like, Hey, why don’t you move out to LA? I’m like, sure. like four years ago, I bought a one way ticket to LA. just sent it in September 2016. And I was there for four years. You know, I was just a writer. I was just making pages on stuff. We all live in this apartment in LA outside of UCLA. It was really like the Facebook movie. You know, everybody was living in that house. It was like that in an apartment. You know, the living room was the office. And then we kind of got pulled into crypto. We saw this opportunity in 2017 2018. You know, aetherium was getting hot. You know, smart contracts. We’re getting interest and we’re like, hey, like why don’t we make a decentralized transparent A mutable version of an encyclopedia if you want to really be a next generation encyclopedia, so I kind of hung around for the ride, as we know, we raised money. We got like a new office. And as ever pedia grew, I grew along with it. And so I was, you know, I’ve always been a social person, I’m really, you know, love talking to people meeting people. You know, we met, we only met like, on Saturday or Sunday as Friday on Twitter, and then we went shooting the other day, and it was a lot of fun. So I’ve always been a networker like that. And so, you know, I slowly got into more business stuff. There’s partnerships than exchanges, I got partnerships with anybody ranging from brave browser to a few years ago, I got partnership with the biggest teach in the world excision. So I’ve always been really good at that. And then, you know, got to work on exchanges. And now I’m doing PR, and it was really like, really a, I feel like it just happened so fast from being just an executive editor to being Vice President of Business Development. So it happened very naturally and very fast. And that’s how I got involved in tech.

Rob McNealy – RobMcNealy.com
So all those functions that you’ve been doing all those different kind of roles that you’ve been growing into which was your favorite so far and which was your least favorite so far?

David Liebowitz – Everipedia
My favorite I think has to do with PR cuz I you know, I love telling stories and with PR you’re really telling the narrative of ever pedia and what we’re doing and you know, so that’s been my favorite so far, partnerships is up there too. It’s always partnerships. I’ve what I love about partnerships, it’s a lot of work, but it pays off so much in the end like it took you know, it takes you know, time and patience and you know, it’s just the same thing you’re trying to construct a narrative so you know, how is this partnership you know, mutually beneficial to you know, who you want to work with and to you know, who I work with every pedia so you know that’s definitely up there to me when you get the partnership I remember when we got the brave browser partnership. I was in Las Vegas up watching we can it’s just like such like a is definitely one of the crowning achievements of my career so far. probably my least favorite. I still like it, though, is dealing with exchanges and stuff just because you know, it’s just you have a cryptocurrency you understand what it’s like to do, and whatnot. But you know, I actually even though it’s my least favorite, I got like a ton of experience in there between, you know, dealing with people in negotiating standing your ground, knowing your worth. So even though you know, you learn a lot dealing with exchanges. Yeah.

Rob McNealy – RobMcNealy.com
And you and I talked offline about that, the trials of tribulation. And you know, one of the things that I thought was interesting about crypto is that, you know, I’ve been in business a long time, I’ve been an entrepreneur for a long time. And it’s like doing dealing with crypto. It’s like different than a normal startup, like, especially a decentralized project. So it’s like this weird hybrid mash up between being a nonprofit. This is how I always kind of describe a crypto decentralized project. It’s kind of like a nonprofit, kind of like a co op. And then you’re a publicly traded Company basically, at the same time, your global company, and you got all those things in the mix. And even as someone who’s, you know, done a lot of startups and stuff, all that a lot of that stuff is new to me too.

David Liebowitz – Everipedia
And it’s funny, we don’t need it. This is my first time really in business and stuff. And so this is what this is what I’m used to, and it’s such it’s such a nexus of all these different things that you were saying, you know, and it’s just really you know, and the thing was crypto evolves so fast, it’s so easy to get left behind and even if you don’t pay attention for a few months, hell like I was I wasn’t really paying attention this weekend because I was just, you know, driving down here and I felt like I missed so much over the weekend. So you always have to be on your toes and crypto.

Rob McNealy – RobMcNealy.com
Oh and stuff is definitely changing. So you said when you first went to ever pedia they weren’t blockchain based.

No we weren’t we were just the normal website. You know, I’ll give you a little bit of background ever pedia. However PDS start in a little bit before that. So I don’t know if your listeners know but early And Wikipedia is history was a lot more egalitarian site, you know, there were a lot more open. So you know, pages being made about different kinds of subjects, they definitely had exponential growth over those first 10 years. And you had two camps of editors develop, develop. So you had your inclusiveness, which lead, Hey, everybody can have a page, if it’s a stub, it can be improved. And then you had your delicious, which we’re like, No, we got to be restrictive, we have to have requirements, they want it, you know, they want it to be that, that kind of way. And so around 2010, the Jewishness went out, and if you noticed, you know, kind of the editors, you know, cats off around 10 K, their pages capped off around 6 million, they had much slower growth, and pages that were being included on Wikipedia. And so they became a lot more strict and they had these notability requirements. And you know, there’s a lot of, you know, different complaints about their community and being toxic and all that you can look all that up on Google. So there’s definitely like an opportunity for an alternative to arise. And so that’s really how every pedia is came about in 2015. As you know, more inclusiveness, friendly, open minded version of an encyclopedia, a new way to do knowledge. And Paul Graham said in in 2010, there’s room to do to Wikipedia. Wikipedia did Encyclopedia Britannica. So I see ever pedia in that same element right there.

Rob McNealy – RobMcNealy.com
Well, it’s interesting, and I am not an ego test. But, you know, I’ve done a lot of things in my life. I mean, I was even a congressional candidate back in 2010. And, you know, worked on a lot of different projects and

David Liebowitz – Everipedia
..so much stuff, honestly, like you told me the other day, “I owned a liquor store, I did that.”

Rob McNealy – RobMcNealy.com
But I could never get a Wikipedia page like I wasn’t and it was funny because I was never notable enough by their standards, like, it was like, and not that I cared like, it wasn’t a big deal to me, but it was like to me though, it’s like, and I’ve met a couple Wikipedia kind of editors, and they wield a tremendous amount of power over that.

David Liebowitz – Everipedia
Oh yeah, yeah, no they do. It’s it’s pretty abdurd how much power like these, uh, not me, not these unknown anonymous people have. And they’re, you know, Wikipedia is one of the top 10 websites in the world.

Rob McNealy – RobMcNealy.com
Right. And so there’s, there’s a lot of power in that. So you could you can change narratives with that. You can control narratives with that. And then there’s no accountability. And, and so to me, I’ve interacted with, like, you know, the founder of Wikipedia, on social media over the years and stuff and, and it’s clear that there’s a huge left leaning bias, not only by the founders, but the editors. And so and so to me, it’s like, you know, and again, it’s not that big of a deal to me, but I do see that as a problem is that if because they are such a powerful site? I mean, if you get a wiki page, that’s one of the first, you know, that’s one of the first pages that comes up

David Liebowitz – Everipedia
that is one of the best. Yeah,

Rob McNealy – RobMcNealy.com
Right. And then in you know, a lot of the search engines also we’ll do a, you know, they’ll do a little excerpt from Wikipedia. And so to me, it’s like, you know, it’s what I just frustrates me. And and, you know, I, you know, we’ve talked a lot. I mean, I’m socially very tolerant, and you know, on some things very liberal, some things very conservative. I’m an independent minded guy. And it’s like, even but the conservative side of me goes, you know, it’s not right, that they’re there. They’re basically stifling opinions. They just don’t like. And so, yeah, so that’s what excites me..

David Liebowitz – Everipedia
The way they frame certain people and it’s undeserved. And they and the problem is the people that are framed a certain way, they can’t go in and change it because they’re not allowed to edit their own page.

Rob McNealy – RobMcNealy.com
Right. And that’s, that’s part of the problem. You know, I know I’m not gonna say who it is, but I do know, a crypto editor for Wikipedia. And he is about his left leaning is it Can you come and I’m like, why are you in crypto because crypto seems like the whole nature of crypto it seems a lot more libertarian to me. I mean that that at least that’s where I think you know that whole cipher funk you know, you know passed that drove a lot of this was very libertarian and cap, you know, kind of in that war world and then I’ve definitely seen like over the last, you know, three, four years as crypto becomes you know, really entrenched with the more Silicon Valley software world that whole left leaning thing is coming in and really kind of you know permeating so anyways it’s not supposed to be a political thing but you know, telling stories can be political so ever pedia How are you different from Wikipedia when it comes to that kind of notability and things of that nature?

David Liebowitz – Everipedia
Yeah, I like to think of ever pedia as the up and coming wiki and culture. So you know in what happened in 2010 between 2010 and now get a rise of influencers and YouTubers and all these people As you know, either millions of subscribers or hundreds of thousands of followers and whatnot, you know, people are searching for these people. But there isn’t a good scholarly wiki, maybe, you know, you’ll get like a click Beatty like wiki page that’s just for SEO, but you won’t really get a good quality page. And so that’s where we’re really ever pedia thrive. And for a long time, like that’s where we got a lot of our traffic. We also imported all of Wikipedia as well. So, you know, we had we had Wikipedia, I sometimes I like to think of every PDS of supplements in Wikipedia in a way. And now recently, we’ve been really doing a push to focus on cryptocurrency and blockchain content. So how you were talking about TUSC with me the other day, and you want to focus on just the gun industry. And really now that vertical like we decided for the best way for us to grow is to focus on cryptocurrency content, because that’s where we seem to get, you know, a lot of engagement on social media, you know, that’s where we get a lot of like new visitors to your site. That’s how we attract a lot of new editors as well. And so that’s where we’re really focusing on right now. But I’ve always thought of us as you know, up and coming with the culture instead. That.

Rob McNealy – RobMcNealy.com
So tell me about the economics?

David Liebowitz – Everipedia
Oh yeah, the token economics. So Ivor pedia runs on the IQ token and I really consider that the skin in the game for ever pedia. So in order to create a page or edit the site, you have to put up IQ. That’s the name of our token. So you put up 50 iq. So let’s say Rob, you want to edit your own page, you see the mistakes. And so you know, you edit your page, you make your changes, you submit the IQ and then there’s a 12 hour voting period where people vote with their IQ tokens whether to approve an edit or reject an edit. If it’s approved, you know, then you actually get rewarded newly minted IQ tokens if it’s rejected, then those IQ tokens are locked for a period of time.

Rob McNealy – RobMcNealy.com
And are they traded somewhere?

David Liebowitz – Everipedia
Yes. So if you want to edit the site and get involved and also we have predict as well as our prediction market platform, which we can get into later, were traded on binance trade on okay x we’re traded on Bitcoin next up it in Korea. some pretty big exchanges if you want to get involved.

Rob McNealy – RobMcNealy.com
So where do you see the possibilities in the future? What like what is the roadmap look like forever PDF.

David Liebowitz – Everipedia
So we’re really doing a big defy push, we see that, you know, in 2019, we actually launched our prediction market platform with predict. I call it the augur of iOS. And you were like, oh, but it’s a prediction market have to do with, you know, Encyclopedia, I think, you know, there are two sides to this same coin. Well, every pedia you know, is to circle knowledge and past knowledge, you know, people using the knowledge to contribute to these pages that are, you know, on the record, predicted future knowledge and people using you know, that what they know, to kind of anticipate future events and get, you know, reward if they’re right. And so, I see with a future push where, you know, we’ve been really building predicts out it’s a super clean platform. And then we want to add like a few new defy primitives and slowly evolved that out. So you know, we’re looking into Oracle’s as well having on Knowledge like that all this has to do with on chain knowledge. So Oracle’s and then possibly having, you know, synthetic assets, leverage, we’re, you know, we’re trying to explore all these different things, we actually have a, you know, we actually have a fund dedicated to funding these projects. So we have our IQ fund, where we committed over a million dollars worth of tokens to funding projects that have to do with everything I just said. So if any of you listeners are interested, they’re welcome to reach out to us.

Rob McNealy – RobMcNealy.com
So you said that you’re based on iOS 10? Is that correct?

David Liebowitz – Everipedia
Yes, yes, we’re based on iOS.

Rob McNealy – RobMcNealy.com
Why did you choose the EOS blockchain?

David Liebowitz – Everipedia
A few reasons: One at the time, you know, to edit, you know, the problem is that they’re going back in 2017 2018. And so to this day, are the transaction you know, you know, everybody that deals with uniswap now, didn’t notice like the transaction fees and you know, the, you know, all the problems with their fees, you know, transactions and whatnot, speed and fees and whatnot. And so if you were to make an edit and every time you had to pay like a few bucks and make an edit, that’s doesn’t make economic sense. Both As you know, it’s you know, free, you know, free transactions and, and it just made much more sense for a consumer products like everipedia to be built on iOS than it would be to be built on it there. But there isn’t there yet for for that kind of debt. And also, we just got support from within the EOS community. They’re really excited about it from you know, people that are EOS token holders to like people high up in the EOS VC world. So we actually raised $30 million from EOS VCs and 2018 from galaxy digital. They were super excited about the project. So between, you know, the technical capabilities and the support we got, it just was only logical for us to build on iOS.

Rob McNealy – RobMcNealy.com
So right now, you mentioned that people can go through and vote on you know, whether or not to approve and edit or things like that. Is there a way that people can make money doing that kind of thing and breastfeeding on the platform?

David Liebowitz – Everipedia
Yeah, so the tokens are, you know, they have a monetary value. So we’ve had a few editors that are some power editors that have made it You know, hundreds, if not thousands of dollars worth of IQ tokens, especially if they held on to it over, you know, over the past year, we’ve been live since 2018. And so which is really cool. Do you think think about all the blockchain projects that constraints have in 2018, they were just a white paper and just never launched a product like we’ve been live even, you know, kind of, we’ve been through the store in the valley of the bear market. And, you know, now we’re just attracting more editors, there’s people like that want to get involved.

Rob McNealy – RobMcNealy.com
And you know, that’s really fun. I like the the platforms that I see now that are starting to evolve like ever pedia in library and some of these, you know, hives, were in brave browser and to me, personally, other than what I’m doing with TUSC those apps right now, to me are the shining stars in crypto.

David Liebowitz – Everipedia
I couldn’t agree more.

Rob McNealy – RobMcNealy.com
And the market, I don’t believe is fully appropriately valuating those projects that are valuing those projects yet. I think that’ll come But to me, I see that as the future and the fact that you have users and you have a product and you have sustainable built in economics on the platform. That, to me is a winning combination. And I hope that with our own product tests that we get to that point, we’re definitely working on that. But I really like what you guys are doing with your tokenomics. And I think that that’s going to be the future. And I think ultimately, projects like ever pedia are going to be major major block chains and major major projects. I would expect it you’ll be in the top 20 next year in the next couple of years. No doubt about that, in my mind.

David Liebowitz – Everipedia
Yeah, I think the same way between what we have built the killer scene that we have, like we wouldn’t have been able to gone this far if we didn’t have just, you know, such a great team all around that everybody’s just so committed to the project and development and you mentioned brave browser before I would love to talk about our partnership with them. It actually fits really well with our ethos. So you know, I was thinking like, Well, you know, we’re We really fit well a with pages, you know, that are not novo enough with Wikipedia, but these people still need to be recognized. And so with brave browser, we have this partnership. One part of it is we have our brave creator of the day. And so you know, brave browser has all these different Yep, hundreds and thousands of people signed up accepting praise tips. But a lot of people in the bat community don’t know who to tip they don’t know where to start to, like, find people to support. And so with our brave creator of the day, we provide that so every, you know, every Tuesday and Thursday, will tweet out a brave creator of the day. And, you know, they’ll, you know, we get tons of streamers as they’re very creative. They, you know, we get, you know, analysts we get all kinds of different people become a very creative the day it’s got, you know, the brave community really likes it, the bat community, you know, they always hype when they see somebody on Reddit like, Oh, this is something new that we can support. So, you know, the brave team has really liked it. It’s been really beneficial for us, so far is beneficial to them as well. They really see it as a tool to help you know, promote their community within their community. And with us, we’ve been able to, you know, get free advertising some brave browser. And so we’ve been able to recruit editors that way as well.

Rob McNealy – RobMcNealy.com
Perfect. It’s really good stuff and I’m glad to see somebody really taking charge in this space. David, where can people find out more about you and ever PDF?

David Liebowitz – Everipedia
Yeah, so you can find out about me I’m on Twitter at at Dave said that underscore on Instagram at doing things underscore forever PDF, you can go at every pedia on Twitter, definitely join our group at everipedia. And, you know, no, come say hi. You know, we’re always you know, we’re always looking for new people. We’re very welcoming computed community, make a pacer yourself make a page for you know, somebody you look up to you. You know, we’re here.

Rob McNealy – RobMcNealy.com
David, thank you for so much for coming on and spending time with me today. Appreciate your time here. Thank you so much. No problem. Hey, there’s Rob McNealy here. I will have all of David’s so And all those links up at Rob McNealy calm make sure you mash that subscribe button. Review us on iTunes. let your friends know how great we are. We really appreciate it. Let him know. Alright guys, you have a great day. Thank you.

David Liebowitz – Everipedia
Thank you

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