Here’s our 123th AMA recap!
Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with KWIK TRUST September 23, 2021. This guest star,
- Christina Ashley — CMO
- Yasir Qayam — COO & Head of Product
- Simon Read — CEO
Introduction
Simon :
Hi, everybody, lovely to be here. thanks very much for joining us today. my name is Simon Read from KWIK TRUST. hmm, i’ve been with the project since.
the very start since about two years ago, when we first came together as a group, we have our origins in the oxford blockchain strategy program that i did. my colleague yesterday didn’t quite a few people actually on the project.
trace their roots back to to there. so that’s how we we came together as a group. um, my role is a ceo. we have a team of about twelve people right now across.
twelve different countries. i think sorry, twelve people across six different countries, so so super busy.
Christina :
Hi Everyone, I’m Christina- CMO of KwikTrust 😊
QUESTIONS MODERATOR
1. Could you provide a simple description KwikTrust for our community? What is the vision and mission?Simon :
The origins of KWIK TRUST are really as as a due diligence platform. so the way that we’ve put this together, we have providence.
at the heart of everything we do. so the functionality allows you to upload onto the platform, a contract. an audio file, a video file, whatever it might be.
anything that needs to be checked and validated by a third party, so having that functionality is very useful for, you know, due diligence entering into the contracts and a very simple.
and very secure way. the other thing that we’ve done with Kwik Trust, which is is very unique, is we’ve combined that with two more things, one of those is the ability to identify.
by yourself. so within that process, we’ve introduced the kyc process. so anybody who’s creating a contract or or a document on Kwik Trust can identify.
by themselves and can prove their identity. which then links to the contract, so that adds another layer of security. of course, the other thing that we’ve done is we’ve provided.
functionality to mint that into a non-fungible token, which is is is really important for us, because then if you create a piece of intellectual property, maybe the design drawing.
maybe it’s a new.
piece of code. whatever it might be. you can connect that to your identity, and that’s proven, and then you can mint both of those things onto a non-fungible token. at that point, it then becomes a transferable asset.
so we see that as being very different, i think for us, which is quite exciting, is that, that opens up new asset classes for nfts, because one of the limitations right now.
with a non-fungible token.
it’s very much limited to the value that people might trust putting onto it. you know. an n f t, you can be lost or or stolen. you know that might be fine for a digital artwork that you might buy and sell.
um, but if you were to put something of significant value on there, you very much want that tied to your identity, so you have another layer of security.
and just adding to that last points by combining these three things, we feel that we can open up new asset classes for for nfts. you know, maybe that’s.
property, maybe that’s the recording ownership of a physical asset as well as a digital asset, so that can extend into into many, many different asset classes.
financial, you know. assets that people might might trade, so we we think that having what we’ve now called the super n.f.t.is a big improvement on an ordinary.
n f t. and that’s what we feel is our our secret source in this this situation, so you know the the super NFT is very much part of our our core offering.
and that’s what we feel sets apart from what other people are doing. the other thing that’s quite exciting for us is quick to us because we’ve invented some new technologies. you know, there is a pattern.
within there that we’re taking steps to protect right now, so we very much want to make this available to to the whole world to use, of course, and for this to become the new.
effective standard for for recording nfts and trading n f t s, but having the pattern in there should hopefully put up a company in a good position where there’s really push this out without too much, too much difficult.
2. What challenges does KwikTrust face now? How is KwikTrust’s current progress in terms of NFT? What solutions are offered?Simon :
Our challenges right now are building the next phase of the technologies, so if i talk a little bit about where we’ve come from so far.
we built the team. we’ve built an mvp product, which is out there in the market and is being tested by pilot users and several actually.
which is is great. let’s give them a great feedback for for the next stage. so you know, building the mvp, designing the the the next stage of the process for the super.
NFT that i just just touched on is sort of, you know, great to have those ticked off, but we do recognize as many, many challenges ahead of us. of course, i mean, the next things that we’re working on the next phase of the.
element, of course. we’ve got a product roadmap, which is on the white paper. yes is leading. the products building is doing a fantastic job. of course. the other challenges that we’ve got really.
building the brand of kwik trust, you know it’s it’s there. it’s no into a very small group of of people. we only started our marketing activities about two weeks ago, we engaged a pr.
company luna who’ve been fantastic, so that’s that’s great. so you know, building the brand getting out there is is super important for us. the market that we’re tackling initially is the the legal market.
we solve a real problem for the for the legal community. so that’s the that’s the initial focus of where we’re going with our marketing, so that’s our next big challenge.
and then building the community, you know. getting people to understand what we’re doing, why the super n f t is is different and and is a big leap forward from a a traditional.
and f.t.and the new exciting things that we can do with the super n f t. so you know, we really want to get that community built, let people know what we’re doing. you know, engage users.
have people take some of our tokens, of course, you want those out there being being used, and we’re talking a little bit more about that later on in this discussion. um, so those are our challenges, so you know, a big roadmap.
to deliver, we do have a great team, but you know. we’re we’re very much aware of those things, so really building the brand, build in the community and then and then getting kwik trust out there, so people can get familiar with it.
start using it. start talking about it. and then i think of what the makings of a very, very interesting business.
3. Can you tell us more about the $KTX token utility on the KwikTrust platform?Yasir :
Hello, everyone. so um, the Kwik Trust token utility token, one of the most important features in a platform is that situated token. and what we have done is to.
the utility of the token so that it benefits the token holders in the long run and also adds value.
when you’re using the platform itself, there are six listed on the white paper.
one of the one of the first ones is to mend n.f.t.so purely to mend the s and f t on the platform one quickest platform. you will need the quick.
is token. so that’s one of the utilities. if you are looking to integrate the functionalities that are defined within the quitters platform.
we have uh the holder need a minimum of five thousand crystal tokens to integrate the quickest functionalities.
system. so this means that the legacy systems that people are currently using, they can easily upgrade using crystal platform and using quickness apis just, but you know, one of the things is holding.
the crystal.
the third utility is that you can provide.
the services within the quickness platform of and and use the quickness network by holding the the tokens also for day to day users for maintaining for using the same.
signatory service for minting s and f t s.
for a k y c a m l s and to request the information from the quickest platform, you can use, the token holders can use those services.
by having those tokens, the other thing is discount that we have, so you have a if you have a Kwik, just token holder and you have a minimum token held within your wallet, you can.
so you can get a discounted services.
the the other thing and the most important thing for people right now in this whole default space is taking, so we definitely have good staking plans coming up.
you know, look out for that, um, and then the last but not the least. is is you’ll be able to purchase a voting identity.
uh, when we move towards more doubt type organization and we can see these coming up and coming now a lot of onwards is going on to how do you manage it, and how do you.
and so on and so forth, and one of the features that are built within the utility of the crystal token is that you will be able to bolt the purchase identity.
avoiding identity on the governance once we moved towards down, so that’s.
so that’s the utility key utilities of.
correct.
4. Who are KwikTrust current partners and backers?Christina :
Thank you so much for this question. it gives us the opportunity to share some love to our partners and backers and who have been fantastic.
so from the beginning, we’ve been very fortunate to have the backing or at least for a while of startups with ibm and also the founder institute.
and we’re really lucky to be able to have their support. we also are excited to say that we’ve partnered with black dragon. and they’ve been fantastic, and we are in.
advanced talks with y f i, who have also been really great to work with. and finally, we also have been in discussions with a few vcs in the middle east.
and we’re really excited to see where those go.
5. What are the major milestones KwikTrust achieved so far? What are your further plans for KwikTrust that you can share with us here?Simon :
The major milestones we’ve achieved so far are getting the mvp built, and i think that’s one of the things that makes Kwik Trust a little bit different.
from some of the projects that are out there now, we very much wanted to put something out there to prove the concept before we went into the process of, you know, creating tokens.
started to sell those tokens, which which we’re doing, of course. but we really want to have something that’s tangible and real before we got there. so you know for us, that’s that’s really, really important.
the other thing that is really key to to what we’re doing is the is the superb n f t. you know, i think having that combination of of the providence, the history of of creating something.
tied with somebody’s idea and then minting that into a non-fungible token creates a a transferable asset, as i touched on it, and that’s that’s really important, and then also.
you know what we’ve we’ve developed with that having the ability to um to record that as a patent application is key to valuation.
credibility in what we’re doing as well, so that’s that’s really important. i think the other thing i’m really proud of that we’ve done so far is the team.
and we’ve put together, we’ve got a team of twelve people. and we’re across several countries and several time zones. you know, we got people in canada, the u.k..
the u.s.asia, pakistan, so we’re operating across five time zones. somebody told me this morning, and we’re very much a sort of twenty four hour.
in that sense of having this kind of global spread is really important because you want to get into different markets, connect with with different groups, so i’m really proud of what we’ve done with the team so far.
you know, looking ahead, what we can share with you is we’re going into a very intensive build face right now on the run up to christmas. so you know, we’re not going into sort of a.
closed door situation where we deliver something in three or four months, we’re going to be building and delivering things every every two weeks through this period, so you know it’s it’s a rapid build. it’s it’s a very well planned out and thought out build.
but we’ll be delivering in little bite size chunks, so there’s always something new coming off, so that’s that’s our plan.
TWITTER QUESTIONS
Q1. According to your website you have incorporated blockchains Hyperledger on KwikTrust. However, other popular ones like Tron and Binance are not have. Why haven’t they been taken into account from the beginning and when do you plan to incorporate them?https://twitter.com/Lidiamga/status/1440577258922512393?s=19
Yasir :
So we did consider different blockchain technologies when we started building the product out the that that we currently have um in the future, we do have plans to.
bridges um, so one of the things that we are currently working on is to bridge, to theorem, and of course, you guys know that ethereum scott bridges were different blockchains and.
more projects coming every day now that. that are working on building bridges crock across platform utility um. so as long as we work on building a bridge to theorem the other, we can utilize the existing technology.
to do to do that onto the other blockchain. ah, the the reason why we incorporated high pleasure is because from a security point of view, when you’ve i’ll give you an example of nfts being lost, installing.
the hacks and so on and so forth uh, we want to avoid that the industry needs to be mature, and we are taking it in that direction, maturing that so that people feel safe.
in creating nfts in the holding nfts in trading nfts and and you know and and the platform is there for them to have that, and that’s what we come, and that’s what we looking to provide.
so at the moment, we are working on a bridge between a platform and ethereum, and then moving forward. you know, we’ll we’ll there’s more news to come. so like i said.
you know, give us a follow and keep an eye on our socials. there’s there’s a lot more.
Q2. Can you tell us how do you verify that the contracts, identities or any other document are real and not a fraud trying to obtain trust through your services?https://twitter.com/ZamoraJoana/status/1440861886757490695?s=19
Simon :
And the way that we validate the agreements is we provide the functionality to undertake that, so you know what we can’t prevent is somebody creating a.
vigilant.
contract and then uploading it onto Kwik Trust what we can do, however, is if there is a genuine contract that’s entered into by somebody.
because we can link that to their identity, it becomes a lot more secure than a normal digital signature solution that, that might be out there today, so that’s that’s.
very much.
part of this. i mean, fraud will always exist in some form, but if you look at fraud that happens today in in any environment, you know, even in a court.
scenario different parties will present different versions of a contract, and both will say this is the the original what cryptos can do that, that, that can’t happen in a in real world scenario is that we can have.
a verification of that contract being signed on the blockchain and because it’s on the blockchain, it can’t be changed. it can’t be changed by Kwik Trust. it can’t be changed by the people who uploaded.
the contract, it’s it’s there forever. it’s a permanent record, so that’s that’s what gives the the credibility and the security and the and the trust in the anything that’s loaded onto Kwik Trust is much more secure.
and and can be can be trusted more than the document might be presented in in another form. hopefully, that answers the question.
Q3. Will Kwik trust be held responsible for any tampering of documents. What security can you give the users about the safety of their assets? Can you also share the audit details?https://twitter.com/Albertjaison2/status/1440589622216589318?s=19
Yasir :
You can always trust twitter users to ask difficult and pressing questions, and that’s what one thing i love about the community, um. the the answer to that this is that uh.
you know, we provide a platform for users.
ah.
upload the documents of the data on onto blockchain. the blockchain by nature is you can temper with it, so the u.s.’s longest day.
they upload the authentic data and the correct data to the best of the ability and knowledge the document is stored on blockchain, and that’s the key.
nature of you know our platform.
the document is hushed, so now if the document is tempered or they’ve been changes to it, the hash will change. that means instantly, the user finds out. yes, there’s something wrong with.
and that’s the audit trail that we provide using quickness platform. the security of the users of the assets we have included. you know, your user and password, so you log on to the system.
yeah, you’re using an impostor plus also you have a two f a authentication by default, so that is not an option that you can opt out of that two f a any user that goes on to our platform.
ufa by default with the you know. with the email address they registered with um, so that’s a security feature even before you get on into the platform, and once the asset is created, it’s there.
uh the k y c is there and people who come onto the platform who use the platform who interact with the data onto the on the platform, they are they will be k y c. they held them up to fa using the impulse rate into f a process in place.
so they’re all known parties, they’re all.
known in in that environment, the people are all known, and that’s the safety feature that we have the audit details. we are still developing the smart contract because we are.
good few features in in in the on on on the platform. so once we complete that uh that the build all the smart contracts are built and they are in place, we will get.
or it is to audit the smart contract, and these will be independently audited by trusted names in the industry, and we are already engaging with those.
uh, and those organizations who will order the the smart contract, so you know, we want this system to be safe to be secure for anyone who’s and everyone who’s within within our environment of Kwik Trust.
um, and then that’s that’s what we are. we are aiming for.
and like the name says, we don’t want to stand up to the to that.
Q4. Community is most important keys to the project success. Most projects have social programs that interact with their community such as plans, Airdrops, MEME contests, trading contests or other. Does KwikTrust have a plan like this, to attract and expand community outreach?https://twitter.com/MochaLatte441/status/1440922642278612992?s=19
Chirstina :
What a fantastic question because i could not agree more with the sentiment. that community is the most important key to project success at one hundred percent is.
um, and so is community engagement, which is why we have started working really hard on building out our communities and bringing in different roles to help with those engagements.
and as simon mentioned, we just started picking up marketing really at the beginning of the month, and we’ve brought on two amazing community managers that if you head over to our official channel.
to get the chance to meet, they’re fantastic. we’ve also started building out different plans to really bring in some engagement across the community, and that includes things like upcoming contests and giveaways, but also providing, you know a source of information outside.
what we’re doing at Kwik Trust and all the amazing upcoming things that we have so that you can get kind of a holistic view of what our community is, what we do, but then also the added value that we bring to.
Q5. According to the KwikTrust roadmap, it’s explained this October 2021 the IDO event will be launching soon, so can you give us a little information about it? like where will it take place or the requirements to join IDO?https://twitter.com/VictorZacTX/status/1440914313884045319?s=19
Christina :
Great question, so we actually are going to be pushing the idea to november of twenty twenty one, but solely for the reason that we.
have now incorporated. you know, the super n f t, we’ve got some amazing things that we really want to make sure are on board and ready for the ideal. so as soon as we have that information, it will be posted on our official channel, we would love if you’d give us a follow.
um, because we’d really like to keep you in the loop for there’s some exciting news and things that we’re doing, and we can’t wait for the idea to happen, so we will put all of the information on the official channel.
done over and to give it a follow.
TELEGRAM QUESTIONS
𝗙𝗼𝗿 𝗮𝗻𝘆 𝗰𝗿𝘆𝗽𝘁𝗼 𝗽𝗿𝗼𝗷𝗲𝗰𝘁, 1% 𝗼𝗳 𝗶𝘁𝘀 𝘀𝘂𝗰𝗰𝗲𝘀𝘀 𝗰𝗼𝗺𝗲𝘀 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗶𝗱𝗲𝗮 𝗶𝘁𝘀𝗲𝗹𝗳. 99% 𝗰𝗼𝗺𝗲𝘀 𝗳𝗿𝗼𝗺 𝗲𝘅𝗲𝗰𝘂𝘁𝗶𝗼𝗻. 𝗜 𝗵𝗮𝘃𝗲 𝘀𝗲𝗲𝗻 𝗺𝗮𝗻𝘆 𝗽𝗿𝗼𝗷𝗲𝗰𝘁𝘀 𝗳𝗮𝗶𝗹 𝗱𝘂𝗲 𝘁𝗼 𝗹𝗮𝗰𝗸 𝗼𝗳 𝗲𝘅𝗽𝗲𝗿𝘁𝗶𝘀𝗲 & 𝘂𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗼𝗳 𝗵𝗼𝘄 𝘁𝗵𝗲 𝗰𝗿𝘆𝗽𝘁𝗼𝘀𝗽𝗵𝗲𝗿𝗲 𝘄𝗼𝗿𝗸𝘀. 𝗗𝗼𝗲𝘀 𝗵𝗮𝘃𝗲 𝘁𝗵𝗲 𝗾𝘂𝗮𝗹𝗶𝗳𝗶𝗲𝗱 𝘁𝗲𝗮𝗺 𝗻𝗲𝗲𝗱𝗲𝗱 𝘁𝗼 𝗳𝘂𝗹𝗳𝗶𝗹𝗹 𝗮𝗹𝗹 𝘆𝗼𝘂𝗿 𝗴𝗼𝗮𝗹𝘀?Christina :
To be very blunt. absolutely, our team has what it takes. it’s one thing that i personally and i know pretty much everyone in the team is very proud of is the team that we have built. they are incredible experts in their field.
everything from the tech side and development right on through to marketing, and we’re passionate about what we do. we love it, and the other thing about us is.
that if there is an area that we aren’t experts in. we are more than willing to ask for help and to find the expert and bring them on our team. and and with that’s what we’ve done. you know, that’s what we’ve done across legal. that’s what we’ve done with tech. we’ve thought of the people that are about this.
that are willing to go the extra mile, and that really know what they’re talking about. because as you said, execution is ninety nine percent of it. and it is crucial that we get that right, so we’ve built an amazing team.
um, and if you would like to know more about them. check out our socials we’re doing currently and meet the team, and you know, hop on our telegram, we’d be happy to answer questions about different team members there as well.
Non-crypto user is very important for mainstream adoption. How you are planning to attract non-crypto users towards your project? Is there any upcoming partnership that will brings non-crypto user and real-use case?Simon :
Im gonna pick up on this last question. i really appreciate we’re running out of time. so thank you very, very much for joining us today. the question that the answer is about non crypto users.
being important for mainstream adoption and how we’re planning to attract non crypto users towards our project of first target market as we touched on earlier.
is the legal sector, and we’re giving the legal sector an opportunity to pay for our services, both in the KwikTrust ktx token.
and and in fear as well, that might sound as if it lacks directional clarity. but it’s a very deliberate decision. the reason we’re doing that is.
feel that those markets aren’t quite ready yet for a full scale crypto utility token adoption, but they will be in the future. you know, i think in two years time.
the situation is very different, and so we’re approaching this from a hybrid model strategy so we can on board some of these big big markets that around that the legal market.
financial services, many. many other industries, so we feel that by offering a fiat option alongside alongside the k_t_x token, we can really appeal to the non cryto.
uses as well. and then as as the world moves on and more people become familiar and comfortable using crypto, they will always already be a part of the quick trust.
platform. so the the conversion is is a lot more simple. so we’re not we’re not sort of starting from scratch, will already be there will have market share. so that’s why we’re taking that approach.
yes, we really want the non crypto market, and that’s how we’re going to approach that sector.
Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?Christina :
This is another great question. a lot of project projects do promise big, flashy, showy things, and then never deliver on them. the great thing about Kwik Trust is we’ve already started to deliver, um. we have an amazing product. the platform is live.
it’s got over three hundred registered users. it works, fantastic. you know, we use it internally. we also encourage others to use it, and so there is that kind of proof of product already there for you.
and in terms of the things that we’re building out, we are incredibly driven, and you know, we’re a team that loves a challenge and loves to succeed, so no matter what that end product is going to happen for us, because.
we can’t accept a challenge and not finish it. it’s just not in our nature, um.
so we also have an amazing team that builds on what they do, and that’s also what gives our product. our product and our project, the edge that we will keep looking for new things to build on, so we’re going to keep developing.
and keep moving forward.
Where i can get all the latest news about ? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?Yasir :
Hello everyone!
Welcome to the KwikTrust Community! 🙌🏼🥳
KwikTrust is THE next generation e-validation platform! We enable users to create a tamper-proof record of important information on the Blockchain⛓🔒
Our platform is LIVE with a growing number of users in professional service sectors!
Now let me help you on your way to the next generation of digital signing!
Visit our beautiful 🤩 website
- https://www.kwiktrust.com to:
👉🏼Get To Know Our Incredible Team 🦸♀️🦸🦸♂️
👉Download Our White Paper
😻📃
👉View our roadmap to Tokenisation!! 🛣🪙
And last but certainly NOT least!
👉Access our app and enter the new age of digital signing!
Keep An Eye Out! Big Things Coming! (Kwik)Trust me 😉
🗓 September 2021
Building NFT module👷👷♂️
+
User dash board for $KTX token management 🔨
🗓 October 2021
IDO and $KTX Utility Token Launch 🚀
🗓 December 2021
Version KT2.0 with extra functionality 🤌🧂
BIG ANNOUNCMENTS COMING
To make sure you’re up to date with everything KwikTrust! Join Our News Channel!
And don’t forget the socials!!
Twitter 🐦 —
twitter.com/KwikTrust
Facebook 📖 —
https:// www.facebook.com/KwikTrust/
Instagram 📸 —
https://instagram.com/kwiktrust/
Say Hello to Your KwikTrust Community Admins!
@Reza0x
And myself
@SpencerWells
While you build your project, do you take into account community feedbacks and demands? While you build your project, do you take into account community feedbacks and demandsChristina :
Wow, you guys are really coming in clutch with these questions. they’re fantastic. and so for this question, in particular, absolutely, we take on board different feedback from the community.
it’s how we’ve gotten to the point that we’re at currently. you know, we started with an initial idea. and every layer has been built based on different feedback that we’ve gotten functionalities that are needed.
gaps that are missing in the marketplace that we could potentially fill, we are always listening to what people have to say because you can’t better yourself if you don’t listen to the voices around you.
- Telegram Chat : https://t.me/joinchat/eqjfolpdhuQ4ZGE0
- Twitter : https://twitter.com/kwiktrust
- Website : https://www.kwiktrust.com/
- Linkedin : https://www.linkedin.com/company/kwiktrust/
- Instagram : https://www.instagram.com/kwiktrust/
Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about KwikTrust.
Join our Telegram Group and you can talk directly with other Communities and enjoy some of the events that we created. We are always here to support.
