Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with PRIVATEUM September 26, 2021. This guest star,
- Alex Shtern — CEO & Co-Founder
Having an honour of leading on Privateum Initiative as a CEO, I am currently enjoying support of my fellow professional team-mates and willing to introduce our project to the maximum extent to Infinity Chain Community.
Alex Shtern here, in a short )))
I hope, I am able to talk further on in details during the upcoming Q&A.
So, I am eager as well to continue with replies to the questions.
Can you tell us simple description about Privateum? the idea, how it started?
As it is mentioned on the forepage of our website, https://www.privateum.org,
Privateum is the ONLY Private, Secure, Global, and Sustainable FinTech Crypto Platform.
Generally speaking, we are focusing on several directions to improve the situation with crypto
First is the SECURITY and PRIVACY of operations.
Second one is the EMPOWERING of crypto-communities worldwide through integration via our technological and legal infrastructure.
Third one, providing the community with the opportuinites unavailable for separate members one by one.
As a corollary of all the abovementioned, we came to the concept of PRIVATEUM INITIATIVE several years ago.
During that time we tested and developed several models, made appropriate publications and even published a separate book.
I can talk really too much on the issue, but my most important advice is to take some time and read our whitepaper, providing key answers:
So, let’s consider the first question DONE for now.
Could you please give a brief intro of Privateum salient product? What solutions are offered?
Thanks, interesting question
The most outstanding issue is the combination of existing several approaches and solutions, resulting in new level of quality.
As a result we are able to offer unique Infrastructure as a Service opportunity to all the members of our cooperatives.
We are currently doing big amount of background work in order to make the services work smoothly, securely and fast, ensuring privacy, safety.
Taking the opportunity, I would really like to convery our team special thanks to Gevorg Airapetian as CTO and Nona Movsisian as Head of Business Analytics for their ongoing great job done of shaping out the details and bringing business process management to our concept on a real working platform bases, including translating that into IT solutions.
The Wallet, the Vault, other solutions — they are mentioned in the updated version of our WhitePaper 2.0. Follow our official channels to get notified in time about specific products and functions we open for our members.
I can currently only say, that much is being done in background, like interconnecting several licensed cryptoprocessing companies and financial institutions in order to meet our project aims and goals. Follow us for more timely information.
Can you tell more about PVM tokenomics and tokenutility? how much supply is available? And where tokens allocated?
Quick reply here, out of our WhitePaper.
80mln public PVM tokens are deployed via Binance Smart Chain, as external utility for becoming Privateum cooperatives member, as well as interchanging with services and products of Privateum Initiative externally. Circulating supply is 5.6mln currently.
Who are Privateum current partners and backers? What effect does the partnership have on the Privateum platform?
I would like to refer everyone to our partnership official page —
Currently we have 2 official partners: ENKE systems and LUNA PR agency, doing really important supporting activities, greatly adding to the success of our PRIVATEUM INITIATIVE
The rest of partners, currently working with us in testing mode, will be announced later on, upon finalization of all the techy, legal and interacting clarifications in order to start working jointly and publicly.
So, we have almost all the basic infrastructure created already in key regions. Just wait some time to get notified officially about enlargement of our partners network worldwide step-by-step.
What are major milestones Privateum achieved so far and what are next 100 days plan?
Tough question… too much to tell, but should keep it short….
I would like to talk about already publicly achieved visible metrics more
The best indicator is almost 10x growth since the beginning of the year, the $PVM price achived $2 level (almost) from initial $0.2 one.
It made possible thanks to our community — both private and legal persons.
So, we rely on wide public approval as well.
I cannot tell officially too much yet, but we expect in quite soon times announcement of external partnership with several well known entities basing upon our newly created cooperative infrastructure.
So, as I mentioned previously, step-by-step we will be publishing notices about new partners, new achievements, new functions and detailed legal framework to support and protect our community fellows.
Speaking for 100 day perspective or even longer term, I would love to refer to our RoadMap and WhitePaper
Referring recent space programs achievements of Elon Musk, Richard Branson, Jeff Bezos, we, at Privateum, are used to say, that The sky is not the limit!
The most pleasant moment for me was the update in our CoinMarketCap page, which
substituted our project evaluation in dollars with…
the share of overall global cryptomarket in general!
Yes, it’s really a small number now, wavering in between 0.01% and 0.03%, but I am more than sure, that in it’s proper time it will grow as well. And may the Lord bless us again with the ten-fold growths of that numbers as well.
Once again — I can talk about Privateum for ever as a proud parent can talk about own baby. ))))
Privateum is currently using the Proof-of-Authority consensus mechanism in its Ghost network. Can you tell us the advantages and benefits of using this type of consensus compared to those most-used ones like Proof-of-Work and Proof-of-Stake?
I like it, the question has very good reasoning to asked for ))))
Too much issues can be mentioned here.
I will just point most evident ones.
PoA networks are considered to be faster and cheaper for users.
Best public known example is the Binance Smart Chain itself.
The solution we utilise internally is providing some extra functionality and advantages, non existing in public markets currently.
I would love to mention here our Green Blog, led by my fellow Co-Founder Gevorg Airapetian:
We are implementing the very Green Technology approach to lessen the global carbon footprint.
Further details can be assessed via our WhitePaper, as well as I would like to recommend following our Twitter page:
I see that Privateum is based on technological and legal solutions that allow the management of private assets. Do you plan to adapt your entire platform to the assets of the public network? In that case, would you have the same level of security and the same quality of assets?
Tricky question ))))
It has some misleading moments )))))
Yes, we are intending to work with public blockchains as well and via the public blockchains too.
The specific algorythm (and algorythms) are to be kept secret, as this is in the core of our solutions, ensuring safety and privacy. )))
The majority of all the solutions are to be implemented internally and for the members of Privateum cooperatives.
For the rest — I would prefer to talk nothing on public blockchain part, as it will be visible in it’s proper time in accordance with the Roadmap.
I am trying to find the proper balance now about the plans and real job done from the point of view of information available for public official release.
SO, let’s consider for now the question answerred. For the rest — keep an eye on the official news channel ))))
Privateum launched the Cyber Security Bounty Hunter Program,managed by third party cyber security team. Can you tell us some details of Cyber Security Bounty Hunter Program?How to participate the Program?Who is the third party cyber security who will help you manage this program?
Ok, good one, techy one ))))
We have announced it all officially previously.
Here are the links:
So, the details are published already and some progress is achieved.
Taking the opportunity, I would like to thank everyone, participating in the above mentioned programs.
Just as a sample of the very first findings — I would thank especially all the early stage testers, and Vishal Singh particularly:
Should you have extra technical questions, feel free to ask them in our Telegram chat.
During your project development period, did you consider community feedback or requests to further expand on new ideas for your project? And many projects fail because they don’t understand their target audience, So I wanted to ask who is the most ideal customer for your product?
Definitely we are on live chat almost 24/7 to support our community members. WE DO hear our supportes, WE DO consider the ideas being discussed.
Can you tell us where $PVM is currently listed? Has your current contract been audited? And how do you see the current market? Any there plans to add a new exchange?
1inch, PanCakeSwap, XT.com
You can take advantage of our help bot for auxillary information in our official Telegram chat
Yes, we have our core contract audited by CERTIK
The market overall is unstable, but we are more than confident in the upcoming success of PVM token.
There are some exchnages ready for listing our token, all the necessary preparations are done.
We will announce in advance about new markets on that very exchanges.
The time will be decided by our Sales and Marketing teams in accordance with global cryptomarket trends in order to protect interests of our existing and upcoming investors.
That’s it for now. Some extra details to be announced later publicly.
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?
I am agree with the success coming from the devotion of the team.
Our leading team members are listed on our team page:
Their qualifications are visible publicly.
A lot of team-members at junior levels are not mentioned yet.
We will give the opportunity to talk to our staff members during the upcoming offline events for sure.
The rest — community can judge the team and staff qualifications by the public success Privateum achieves.
The NFT is a popular topic right now, what are your views on the NFT? Is there any plan to add NFT to your project in future?
Gevorg Airapetian previously mentioned it publicly, that we are going to launch our own NFT products as well. Some hints were done through our Twitter page:
Follow the feed to get updated ))))
Covid-19 has a bad impact in almost every sector. So, as a crypto projects how did it affect you?How you and your team have done the work in the pandemic?
In the times of pandemic, community support and online facilities get bigger importance.
Contrary to health situation in the world, all the online initiatives, and the PRIVATEUM as well, enjoyed higher attention as a result of such shift into virtual world.
We as a team are working in accordance with the appropriate WHO recommendations and encourage to follow the guidance. Health is the top priority to our community.
One of the internal projects of cooperatives is related to internal medical services within the community. Details to come later on.
Thanks again for the question, as it currently has really vital importance for the World.
The most different feature that you have other typical projects is the fact that you use the Ghost network, so can you explain us why did you chose this network to operate?
It’s in the core of our PRIVACY and SAFETY approach. Do please read our WhitePaper about the PRIVATEUM WALLET and the VAULT. You will find too much improvements in comparison to similar public attempts.
The techy team lead by Gevorg Airapetian is really genius with new upcoming solutions and products. Just follow the news, so you yourself will be able to feel the advantages and evaluate the platform products.
Regulation is very important. Many projects were closed in many countries due to failure to use the correct regulations and permits. In order to go global how does your team deal with these issues?
We have several legal teams and well-known legal companies to be united in the legal partners network, so PRIVATEUM is able to provide “legal umbrella services” to our community members.
The harmonization of internal procedures, policies and rules of cooperatives is currently in progress for meeting the very expectations.
I would recommend folllowing the links:
I can tell much more on that issue, but let’s keep it short for now.
- Telegram Chat : https://t.me/privateum_official
- Twitter : https://twitter.com/privateum
- Website : https://www.privateum.org/
- Whitepaper : https://www.privateum.org/wp-content/uploads/2021/04/whitepaperfinal.pdf
- Medium : https://medium.com/@privateum
- Reddit : https://www.reddit.com/r/Privateum/
- Linkedin : https://www.linkedin.com/company/privateum
- Github : https://github.com/Privateum
Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about PRIVATEUM.
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