AMA summary of 21/08/2018
Below you will find the AMA summary of 21/08/2018. Do you want to join the next AMA? Please join the AMA Telegram group (https://t.me/SilentNotaryAMA) and switch the Notifications to on so you are notified when it starts.
Bremcakes ~ Can we know what countries you guys are currently working with?
We are working with several prospects for worldwide projects.
Most active interest is from the USA, LATAM, EU and Africa.
~ Dmitry
Bremcakes ~ Did any of those countries Give a confirmation or all still in progress?
We have agreed about main points as for now. We can disclose more information when the actual operation starts (and when our partners confirm that it is possible, as here NDA starts to work.
~ Dmitry
Bremcakes ~ I think one of our communities biggest concerns is that lack of advertisement. For me it’s not that I don’t think you guys are doing it on the bigger scale its just that, we don’t see it. Can you tell us what your doing to promote SN?
We plan to start campaign when we will have something solid to show/test/use. In this case our advertisement will be much more effective.
~ Max Breus
Also we are mostly focused on large B2B and B2G projects now, they can promote us worldwide (and deliver sound proof of concept). After that extended advertisement for B2C segment will be more effective.
~ Dmitry
Eduardo ~ What is the amount of CIL for the masternode?
We are building a non-standard model with self-regulation based on competition and balance between validators/users. We plan finish it in 2 weeks approx.
~ Max Breus
Muratcan ~ Are you thinking of selling some of the SNTR to private investors in large bulks from the tokens that you keep aside for future development and PR, or anyone wants to buy a stack like that must use exchanges.
We use this fund in case we need to pay in tokens, we have enough funds for dev&pr, it would be better to hold it as a reserve.
~ Max Breus
Bremcakes ~ We keep seeing things like Big partners, Big exchanges, etc in telegram and “soon” seems to be quite the powerful word now there. Can we get any incite on partners or are the partners the countries you are working with?
We can share information only when our partners approve this sharing. We are bound with NDAs. As our product covers some juridical cases, we should behave in accordance with laws :) And business ethic also. Be sure, we will announce big results as soon as we get such approval, we love to see evidences that SNTR is implemented!
~ Dmitry
Vishnu Audi ~ If cil comes to exchange, will value of Sntr drop??
No, both CiL and SNTR work together.
~ Nikola Begovic
ダニエル ~ Can you name/give some company names that you are dealing right now about partnerships? And how about new wp ? When it will be released?
We plan to announce in mid September, but it can be shifted earlier or later a bit. We are aware that we can share such news when everything is 100% in operation (and when our partners approve it)
~ Dmitry
Jamie ~ What’s now preventing the white paper from being released guys? It’s been SO long. First it was waiting on the graphics then further proof reading and then the devs changed how something worked… but even that last issue was a few weeks back now.
We were promised we would see it soon after MainNet but still nothing. Can you please update us on this and tell us why it’s still not available?
We have a “problem” with our new wp. We found a really cool devs and they add too much new crazy features to our concept, so we have a choice to focus on development or rewrite our wp.
~ Max Breus
Bremcakes ~ So you’re expecting national governments to obtain SNTR via exchanges?
No, our clients do not touch crypto assets at all. They even don’t know that there is a whole world behind SN interfaces)
~ Max Breus
Jamie ~ So you will not release the WP for now and then after development it will be completely rewritten?
How can investors know what this is, without any technical documents at all?
Actually we have a deadline of course. Everything must be published at least 2 weeks before swap.
~ Max Breus
Vishnu Audi ~ If cil comes to exchange, will value of Sntr drop??
We can’t predict but I see no any reason.
~ Max Breus
Bremcakes ~ I thought CIL is how they are going to pay for the system.
SNTR and CiL are in the core. But the core processes work between us and partners/resellers/etc. The end users should not think about going to crypto exchanges and other stuff, they should use our services. We and partners will cover the basics, and here crypto is in action.
~ Dmitry
Jamie ~ That’s months away though. So we can forget being able to properly understand this project for the time being? Do you not think this is a problem for attracting new investors to the project? How should they understand what this is at all now?
100% agree with you. We will try to publish it sooner.
~ Max Breus
Bremcakes ~ I thought I understood the purpose of SNTR and CIL but now I feel like there isn’t even a purpose of owning these two coins if consumers don’t need them to use.
The customers will definitely use it (every customer!). But not everybody in the world knows about crypto exchanges etc. This is where our business partners come in action, and they will be the most active consumers of SNTR.
~ Dmitry
Blake ~ There are some allegation as you might know
I have notified you about the website
Some guys are claiming that There is a strong possibility that you own more than 56% of the tokens. Only the operational fund itself has 2,1 Million Dollars market value today.
“Frozen tokens have 2,12 Million Dollars and the swap fund has 152 Thousand Dollars market value. (1 SNTR=0.00000015). If we add the money they raised, you have around 8,2 Million Dollars”
If you be clear on some allegations these fudders would not have any chance to write again.
Sure, it is a really simple math. We have frozen the tokens for 3 years with a vesting schedule. Everybody can check this smart contract. All other funds (development and Byteball swap) are public and we can use them only for declared purposes. Our lawyers started investigation today about the website, I think we will see result very soon.
I really do not want to waste this time, but we must respond to such attacks
~ Max Breus
Ernesto ~ Hello I have a few questions the first one is
Is sntr going to partner up with a token like ETN electroneoum to me it seems like it would be a great idea they are aiming at Mass adoption and this could help sntr
In fact, we originally started with partner relationships with other platforms (since we use blockchain as a service), but after immersing ourselves in legal aspects we started CiL
~ Max Breus
CoinEx preliminary confirmed listing of SNTR after the voting. We should go through some procedures. One of them is to make an application with all project and token details (applied, accepted on August 7th, can take upto 30 business days for evaluation). So we expect news by the middle of September.
We also arranged dedicated Telegram channel with CoinEx team to help with listing questions ASAP.
We totally understand the importance of listing on various exchanges for development of the project.
And we also understand that the conditions from exchanges should be relevant to their volumes and options to work with.
That leads to detailed evaluation for the offers from exchanges.
It just cannot work in a simple way.
If we got an offer for paid listing for XYZ thousand Euros, we must evaluate what can our international community achieve from that.
And requests from a lot of exchanges are often rediculous. They require several thousands of Euros that can be spent on project and product development. And if we spent everything on exchanges instead of project developmen that would lead to dramatic decrease of token value (the projects without any products are just useless).
We consider a balanced approach, when we spend enough for project development and add exchanges that are good to work with in foreseen future, not only immediately.
That’s why we are focused on CoinEx now, and also thanks a lot for community for this process. I know some of you were actively involved. CoinEx seems to be very good options. They have some procedures to cover, and we should respect their conditions. But we got preliminary confirmation and led some discussions, so I can say that the process goes smooth.
~ Dmitry
Bremcakes ~ Can i ask how many companies or countries you are negotiating right now?
5 regions are under active negotiations.
~ Dmitry
Ernesto ~ My second question is will sntr consider in getting the list of the many people who are registered notary in the USA to encourage them to become master nodes?
We have a special proposal for NP to use SN + CiL masternodes, it can be our main business actually. So yes, we plan to attract them.
~ Max Breus
Bremcakes ~ I completely understand why you wouldn’t pay a stupid amount of money for an exchange and your right, its just for pump and dump groups. It’s just unfortunate that so many exchanges are exclusive to certain markets and only some of the bigger names are available everywhere.
Yes, moreover most of them have fake volume with zero community.
~ Max Breus
Bremcakes ~ So you disregarded KuCoin?
No, we are still considering this exchange. But conditions should be relevant for project development, that will lead to organic growth.
~ Dmitry
Visnu Audi ~ How soon we can expect partner confirmation?
We are EXPECTING this confirmation in September. But please take into consideration that we should get partner’s approval before sharing.
~ Dmitry
Blake ~ @Grafskii any deadline for KuCoin?
It has been promised before coinex
We have official negotiations. We are ready to negotiate everything, but we will definitely not agree on EVERY offer, if it is not applicable for the project. When (if) we come to agreement, we announce this deadline.
Marlo ~ Someone else suggested this and I think it would be superb… can someone from the team produce some demonstration videos of the MainNet in action? Show us what it is, exactly, how it works? A bit of a tour?
I think in the absence of other technical info, this would be of great benefit to most of us.
Good idea, I will discuss with our devs. they are testing BFT consensus atm, it would be interesting to record it for history.
~ Max Breus
Matt ~ Can you tell us more about lightstamp please? Sounds awesome!
We found an opportunity to certify a timeframe of any evidence using special video processing with feedback with blockchain. So we have a timeframe now but not a single timestamp. In addition it is impossible to fake this video so it will be also interesting for any ID.
~ Max Breus
Marlo ~ Someone else suggested this and I think it would be superb… can someone from the team produce some demonstration videos of the MainNet in action? Show us what it is, exactly, how it works? A bit of a tour?
I think in the absence of other technical info, this would be of great benefit to most of us.
Good idea, I will discuss with our devs. they are testing BFT consensus atm, it would be interesting to record it for history.
~ Max Breus
Matt ~ Can you tell us more about lightstamp please? Sounds awesome!
We found an opportunity to certify a timeframe of any evidence using special video processing with feedback with blockchain. So we have a timeframe now but not a single timestamp. In addition it is impossible to fake this video so it will be also interesting for any ID.
~ Max Breus
Marlo ~ Can I add to this question and ask when we will see Lightstamp in action anywhere? Could this form part of the video demo?
We plan to add LS to the next (second commercial) version of our mobile applications, we expect that WIPO should complete the processing of our patent application by this time.
Karl (Beluga Capital) ~ I have a question about the CiL swap. Have you considered doing it as an airdrop with an amount of CiL per token? If it is done as a swap will this not effectively dilute the value of our holdings because the amount i hold as a total % of the coins in the project will be reduced by x2 or more?
Sorry, but since we use PoS consensus, we can not airdrop our coins, they should be valuable to holders.
~ Max Breus
f t ~ That technologies are awesome. But we have a any date about white paper for CIL?
We have a deadline about 1 month as it was calculated before, we will try to finish it asap, this is our priority now,
~ Max Breus
Karl (Beluga Capital) ~ They will still have a value, but the value will be added to sntr instead of diluted from it. Lets just for easy calculations say i have 10% of sntr supply, after swap i will have 5% of sntr and cil supply (or less depending on ratio) but by doing it as an airdrop my % in your project will remain the same.
We assumed such situation and we have a special mechanism for this case. You can find it in sntr WP in token model section.
~ Max Breus
f t ~ Why I am asking wp because you are talking about new technologies but we don’t understand fair enough. And my another question is swap processing. Do you have any work for swap exchange? In my opinion, Idex could not be success for swap.
We will not use exchanges, we will have our wallet before swap. (btw you will be surprised, it will differ from standard wallets)
~ Max Breus
Ernesto ~ Could you guys create a website where we could become registered SNTR affiliate to sell the notary service to transportation companies the cab industry Uber drivers so they can be protective evidence in case of an accident there the recorded evidence could be stored.
A good idea! We need to complete the platform, interfaces, wallet, explorer, and then we will begin to develop such functions. If there are any partners, this will help us start earlier.
Bremcakes — Sorry if i missed this answer but did we get a date for line and Wechat integration?
Will update with devs, they were almost finished a couple of months ago.
~ Max Breus
Marlo ~ Is the timeframe for this around the time of the swap?
Will update with devs, they were almost finished a couple of months ago.
~ Max Brues
Matt ~ Can you give a sequence of events to look forward to? Approx dates would really help as well.
I would like to inform you (our community) first, we need some time for stabilization. too many things that we solve in parallel.
~ Max Breus
Karl (Beluga Capital) ~ What question are you hoping someone will ask so you can reply with some great news or positive insight to the future of cil / sntr?
I need to clarify this issue, I’ll describe in our Tech & Legal group later, ok?
~ Max Breus
Daniel P — When your regular clients use the commercial products, do they pay with fiat (guessing that since you wrote earlier they don’t need to know about crypto) ? Will this fiat be converted into CiL / Sntr tokens for accessing the features?
Yes, they will pay in fiat, and part of this cash flow (about 20%) will be converted into crypto (for the purchase of tokens, payment for gas, etc.)
~ Max Breus
Blake ~ All in all
Mainnet will be ready after 2 months
and there are lots of great partnership is coming right?
Right, 2–3 months.
We will start tests soon, we expect to have a very interesting numbers. DAG is a very scalable tech without architect limitations.
~ Max Breus
Ernesto ~ You know max we like tangible things a debit card would sound great with a QR code if needed for easy access and really I want to say one more thing to you the youth understands the technology but most cryptos are forgetting that you need to integrate a person into the new ways and you have to make user friendly that idea about allowing future sntr affiliates to sell the notary and teaching the old timers the ways would be very beneficial because by doing so you are creating an army of people who believe in the project and actually utilizing it for their own gain and sntr gain just telling people about not in a Youtube video is just not enough this needs action just like an insurance salesperson they get a cut from selling the insurance and builds a clientele of faithful customers they pay monthly for many years but a salesperson told them how great the Service is I think you have something here beyond your initial intention well I gotta get back to work and I admire the fact that you took the time to do this hopefully we see this more often and we can see this project go global.
I need to think about it calmly, you have interesting ideas! Thanks!
~ Ernesto
Blake ~ Partnerships, Mainnet and PR who could stop this project?
Seriously, I do not see a lot of risks. We have the funds for all of the above (in fiat, not in crypto), we have completed our core of the platform, so we just need time and some luck (for example, to find additional cool developers).
~ Max Breus
f t ~ At the same time, maybe you can publish test results (that’s your opinion of course)
Yes, as we discussed earlier, with some videos.
~ Max Breus
Matt ~ Your own exchange! Just wow. Any info would be amazing.
We have a serious proposal for creating a dex on cil. I’ll think about dex later, we need to focus on the basic things.
~ Max Breus
Message from our founder (Max Breus):
Thanks guys for the interesting questions! We will repeat a AMA on a regular basis, say every month or two weeks.
