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AMA - All Things Partisia Blockchain
Recorded: May 28, 2025 Duration: 1:56:15Space Recording
Short Summary
Patizia Blockchain is making significant strides with new partnerships, upcoming token launches, and a focus on grants to foster ecosystem growth. The collaboration with IDOS and Topan highlights their commitment to innovation and market expansion, while the emphasis on yield opportunities and community engagement signals a robust growth strategy.
Full Transcription
Hello, hello.
We'll do the usual bits and pieces, get our speakers up here.
So bear with a few minutes and obviously let everyone roll in.
So Peter, I can see you're here.
If you can request, I see the request.
You have been approved.
Welcome.
Others from the team as well.
So we're expecting Matthias and Mark.
So if you can request when ready to be a speaker, that'd be great. I guess you should be able to hear me now, right?
I can indeed. I can indeed. Thanks, Peter.
Matthias, I can't see you again. I think we had this problem last time.
I don't know what you did to resolve that, but if you can do it again, if you remember, that'd be great.
Yeah, if you can join from another account that'd be perfect too testing
can you guys hear me?
Let's not answer him because it's much more fun to hear him going yada yada yada.
Basically, yeah.
No, I won't do that to you.
We can successfully hear you.
You are in.
You've landed.
And Mark is here up as a speaker as well.
So good stuff. Manny, good to see see you we've not spoken for a while um good to see you here pitbull has just arrived joyce is here as well
uh good to see some familiar faces hassy at crowd snap thank you for the time uh we will wait a
couple more minutes just to let people roll in and get settled and then we'll kick off.
So to manage expectations, a bit of an intro, a couple of small updates, but no, not the monologue you guys have referenced before.
We've dived straight into questions. Give it another minute or so
welcome cryptid as. Good to see you as well silence is painful painful for me, anyone that has spoken to me or knows me well.
So I'm just going to hop into Yikubi.
Great to see you too.
Yikubi is someone I've worked with for years.
Yeah, silence is painful, so I'll start.
Peter laughs because he feels the pain on the other side of me speaking.
So welcome, everyone.
Thanks so much for joining today's Community AMA.
Some of you may know, some of you may not.
I'm Youssef Fanous, Chief Commercial Officer here at Patizia Blockchain,
and I'll be hosting and guiding us through this conversation today.
Joining me on the call, we've got Peter Franson,
co-CEO of both Patizia Blockchain and Patizia,
what we refer to as Patizia Infrastructure, but Patizia.
Mark Boongard, Chief Product Officer at Patizia Infrastructure.
And last but not least, Matthias Glimborg, Head of Product at Patizia Blockchain,
and also spends some time on God's Network.
So he's joined actually from the God's Network account today. We'll keep
it simple. You all as a community have been asking for, well, thoughtful, fair questions, well, for
the most part at least, and you wanted a proper space to engage openly. So that's what this is.
I know previous AMAs haven't always lived up to the mark. I've seen your feedback, raised it internally, and this
conversation is hopefully the result of that. So a few ground rules. Most of this, frankly,
should go without saying, but history on other calls has made it necessary. So I just wanted
to be upfront so we're all aligned. Let's keep things respectful and mature. We're all
here for a shared goal, which is hopefully progress of PBC.
Like any business there are things we can't speak on fully so confidential
discussions and early stage plans are examples of some of those reasons but
we'll try to be as open as possible. Let's avoid too much repetition. You may
not love the answer, you may love it, but once something's answered, we'll just keep it moving.
Above all, let's enjoy this. Ask the questions you care about. We're here to answer. Just to
set expectations, I'll be rotating between pre-submitted questions and live ones to keep
things fair, balanced, and inclusive for all. Before I jump into that, just a few highlights and updates for new listeners
or for those who may have missed them. So let's start with IDOS. An identity layer project in Web
3 is using Patizia's key management solution, which demonstrates the strength of our tech,
our ability to find product market fit with a real use case that IDOS couldn't find elsewhere in the market.
They've also got some incredible traction that we're a part of,
with a seat at the table for their IDOS consortium,
alongside the likes of NIR, Ripple, Circle, and a few others,
which is a big step for us in our digital identity or DID ambitions.
Topan, or Topan, I always pronounce it different ways,
is a major Japanese player in the printing and identity space
with over 100 years of history valued in the trillions of Japanese yen in market cap
and another big win really for our DID ambitions.
We'll be rolling out pilots in Japanese universities for student credentials, accesses and potentially some financial use cases as well.
Maybe a chance to give an exclusive but a long awaited one.
Weekly and automated reward distribution is now live on Mainnetnet so we'll be sharing more comms on
this and we were recently recognized in a massari report alongside other data privacy first projects
the importance of confidential compute is growing and massari is obviously a beacon here for pushing forward new and interesting
narratives as we all know data is the lifeblood of the modern world and using npc and these other
types of privacy enhancing text to be able to store and collaborate on this data securely and
compliantly not only breaks down borders and allows for innovation, but most importantly allows users and businesses to have more ownership
over their data. And probably, well, it won't be the last time I mention this, but drum roll for
the last one, which is Luigi is gone. Many forms, many aliases, many endless loops over many years.
And I'll be fair, some important questions were asked,
but the approach can only really be explained using your own eyes to see it.
It's been refreshing to see the shift in tone across the community
with real dialogue happening again.
And I just want to share that here because jokes aside,
it is a really important environment to build.
And it's actually how we get the most
fruitful, productive conversations going amongst all stakeholders. So updates are pinned in the
TG community, with some added bonuses of Luigi being cemented in history as a meme.
That is the housekeeping done. Before I carry on, is any think anyone else uh from the team wants to add
to some of those updates before we we jump straight into questions
i hope the rest of the ama has more dialogue
Peter, please.
peter please
That was an interesting update.
I'll just get straight into it then.
No strict format here.
I'll keep it flowing.
A mix of live and pre-submitted questions.
And really the goal is to hit a broad mix of topics so we can keep it interesting and inclusive.
Given that you guys have spent the time to be here i'll
start with live questions so if someone does have something to ask please raise your hand
and we'll get you up as a speaker we have a request
We have a request.
That was just Peter requesting to be back.
I think he's experiencing some issues on the spaces.
I'll give it...
Ah, we have Manny.
Hey, Manny. Welcome. Good to see you again how you doing
i'd rather listen to the ame and the team first before i ask my question so you all let people up
after you've done done all that and answered all the questions yeah i'll mix it i'll mix it between
the two just to keep it interesting i'll come back on later then okay okay sure sure thanks manny thanks man
anyone else if not i'll hop into a few uh pre-submitted questions if you have submitted
a question it's just hear from you direct too so um i believe crypto factor you may have submitted
a few crowdsnap sahasia crowd snap cryptid you definitely have a few questions so feel free to
step up um if not i'll just hop straight into some of the submissions
and an un-shy audience today okay um i'll just hop in no particular order i'm just saying what's straight in front of me so this was actually from hasi uh pbc is chasing commercial
partnerships which is good but most of those big companies are
too process and process oriented and deliveries are slow uh why not invest in the ecosystem builders
uh with fair grants like stable coins to encourage development i'm going to read into some of the
intention behind these questions as well so maybe mark um on on some of the commercial partnerships that I know you've been working on,
and then we can hop into the grants and more Web3 native adoption as well. Maybe going on to
Matthias after that, because I know you've been working with a bunch of projects on bringing
them to delivery. So Mark, please go ahead. Yeah. Cool. And can you hear me? It works.
Mark, please, go ahead.
Yeah, cool.
And can you hear me?
It works?
It works, it does.
IT is hard, even though you potentially are dedicated in it.
All right, right.
Well, I think there's, you kind of, first of all,
saw some of the strategic partnership on Toppen, right?
And other things that is coming in the mix.
And I think that the reason why it also gives importance,
and I think it is important, even though it takes time,
and I fully, fully understand that.
Toppan has also been a year in the making for getting there.
It's also about having something that stays in a sense,
so value-given approach to creating projects
that actually sets a solution in the market
that gives value.
So for someone like Topan,
a lot of this is around identity first,
as you said at the beginning.
And this is a core product for them.
This is a core market for Topan.
They're doing not just 33% of the core market in Japan, but providing identities of users in Singapore,
Taiwan, Indonesia, South America, Africa.
And what we're really trying to provide here is a standardized solution for this, I'll quote it a bit if I could,
solutions for this, I'll quote it a bit if I could, but interoperability of identities, where
they would be not just dependent on PBC and the technology around it, but also really utilizing
it for having a solution that could scale, and especially into some of the European discussions
also. And I think our focus on enterprises is not the only focus that should be.
And Matthias will pick it up right after here.
But the focus with enterprises is also for having stable solutions that keep existing in the market.
And provide solutions that you are able to scale upon. And I think it's insanely important and also an insane commitment
to get from large enterprises that here we are able to build something
that actually provides some guarantees for a common solution.
That is unique.
And that's also why we need to keep those discussions going
and create more value.
And I don't mean it in any negative way, but more value than necessarily just swapping an NFT always.
We would like to have real value behind it.
And that's what we see in the discussions we are doing on the enterprise side also.
on the enterprise side also.
I'll add something there,
which is enterprise solutions mean a less rocky
and volatile environment that just meet the Web3 cycles.
And as the space in the industry is maturing a lot more
and bringing in, let's call it Web2 or non-Web3 natives,
it's an important component to focus on,
but rightly so, not the only component um i'll i'll go over actually before i segue in there's
there's also overlap and alignment right like i've mentioned topan and idos at the beginning of the
dama and they both focus on a did solution So they aren't mutually exclusive and there's benefit to be had and compounding
benefit to be had in doing both.
I'll leave that as a segue into moving to Matthias,
more focused on the PBC ecosystem builders or Web3.
Thanks for the question. It's a good one.
And I think it's a very good point that enterprise is moving rather slow in comparison to what we call Web3 native, broadly speaking.
And we already invested in not an argumential stable coin, right?
So within the DeFi ecosystem, we already not invested, but we provided grant support to some of the fundamental
categories within DeFi, so namely DEX, which is already live now, lending protocol and
liquid staking.
And the liquid staking is also a project where we see a lot of traction that are coming fast
now.
Hopefully, we can share some good progress around that soon.
And we've been speaking to a lot of DeFi builders
because they're very interested in our privacy technology.
So you can build these, for example, order books style Dexas
which preserve the privacy of the order books
that can be used for certain type of markets
like private auctions.
Specifically, again, for stablecoin, we already have the bridge to various blockchains
where you can bridge over the stablecoin.
We spoke to some of the major stablecoin providers before, so think Circle, Tether and so on.
us before so think uh circle tether and so on the thing about bringing these type of um
projects on board is that they will mint something natively on on partition and it's a
rather big engagement that makes more sense when when d5 is actually flying in in in my opinion so
um device comic we have these three um core uh DeFi and we are actively speaking with other DeFi protocols who want to build these order book style DEXs.
They want to build full reserve minted assets, so thank stablecoin there again, and also CDPs.
Yeah, I think that was pretty much it.
Yeah, so I guess to summarise there, both enterprise and what we are calling Web3 Native, for one of a better term here, are important and there is traction and focus on both.
I don't want to overlook part of the question, though, to skirt it, but why pbc not invest in ecosystem builders through grants um
i'll add a bit of context and i don't know who i hand it over to next but someone can just step up
grants are interested right because there's a trend in the industry which goes for pretty much
everything but as well as with grants where people just grant
farm and and hunt for grants to get a bit of cash but aren't really aligned necessarily
with the project or the protocol and we want to make sure that we're looking at particular
metrics or focus areas when we're doing this so what does it align with the strategy does it have
some npc use case does it it drive transactions on chain? Is it
a core part of our infrastructure strategy? Can we expect some kind of users as part of this? And
it's about selecting the right projects that add value to the whole ecosystem. As you know, Hasi,
we offer grants and we already have a grant program in place.
So they're just a bit of added color, I guess,
on some of the context.
I don't know if anyone else wants to add to that
in terms of grants.
Let me just add on a bit.
So yeah, we had a grant program before
and we supported some projects with our building
and they're coming out for example the DeFi projects
I think one of the interesting thing we've seen in cases like Eidos is that
they're actually coming to us because they couldn't find this type of
technology elsewhere in the market and they were excited that we as a team
support them with development and help them build up the case and technology.
And that's kind of the approach now. We still have the grant, but we are talking to some larger DeFi players now who also tells us that grant is probably not the right approach for them.
They see a business here and they like the tech, the privacy tech,
and then they rather come in and let us help them build up the tech
and they want to go out to, for example, fundraise based on this.
Perfect. I think we've given a lot of context there.
I just want to make sure we get around to a few other questions. I'll try and segue them in where they make sense to each other as much as possible. it becomes a destination for builders value and users not just another overlooked ghost blockchain
network particularly as capital rotates through the ecosystem i guess a couple of routes to
potentially go through there and kind of build on what we said around how we're building out the
ecosystem um who wants to take that first maybe matthias, building on what you've said. So how are we ensuring that PBC is the destination for builders?
So one of the things that we focus a lot on from the product side
is to deliver products that runs in mainnet production,
which is superior on a lot of the privacy,
but also decentralization, performance and scalability.
So then when we get them out to the market, along with marketing and BD, we see teams like EIDAS coming and saying, hey, we tried a bunch of things, we couldn't find what we need.
You guys, it looks like you have the solution.
And then we turn that into an engagement.
So I think that's the approach and one of the exciting things that we are coming out with now is a product called Execution Engine where we've seen a lot of interest and we believe that will drive a lot of leads and adoption that will convert into on-chain activity.
and adoption that will convert into on-chain activity.
Actually, I'll take this from a marketing perspective as well.
I mean, the values, project builders come to us
because they're building a business, right?
Let's massively simplify this.
There are many components that build into the success of that.
Matthias has touched on product.
From a marketing perspective, it's, is there a community?
Are there users that are willing to contribute? What does this mean to elevate my business
effectively? So I have been working on some initiatives that probably aren't right to speak
about here, but are nearing an end where we've been working with some builders to build up more use cases, play around with our tool in, get familiar with
the dev docs and the ecosystem and start to produce some POCs. This allows them to better
understand the ecosystem. It allows them to also be, let's call it the 12th man for anyone that
watches football, where they could be external counsel they can support with workshops they can give feedback to our developer and the products that we're building and and then start
to build some use cases against our strategy and and really for me another focus going forward
would be to build more consumer facing dApps or use cases so the community have more to get
involved with I know we've touched on enterprise at the moment, but that's not, although great improves our tech at the highest level,
it doesn't give much for our community to test, play around with, get educated on.
So I just wanted to build out a bit more because it is a very broad question.
Mark, Peter, I don't know if you want to add anything to that.
Well, there's a reading of the question saying that
how do you ensure that you're going to be a success?
Because effectively, the success of this blockchain
is correlated one-to-one with the amount of people actually building on it.
That's the broadest version of this question, which is actually...
That's the broadest version of this question, which is actually...
I don't know if you want to add to that, Mark.
I think I lost the last sentence. Could you repeat that one?
Yeah, same.
maybe we lost him we lost him we lost the guy again yeah in the cave somewhere you never know
uh no i think oh please mark yeah but kind of what i i'm uh putting is uh maybe taking your
words out so so agreed i think the the success of this is getting people building.
And let's be upfront here.
There's definitely been mistakes on the road to figuring out doing this correctly and learning experience from this.
But from the perspective of one thing is enterprises that's brilliant.
But another thing is, I think we're, as Matthias also said,
But another thing is, I think we're, as Matthias also said,
getting very much closer on getting a better understanding,
a better tool set, a better environment for actually, hopefully,
being there where you could sit down and say,
I'm just going to build something, and I want to be able to build something.
It's not there yet, absolutely.
And we are also working and trying to listen all we can on
the community side of things uh but i think there's there's a lot of nuances that we are able to do
now and and a lot of good challenges out in the market also that can be solved uniquely from the
position we're at right and and this is really really the work we look into right now, making sure that that becomes more, let's call it more seamless, easier to do and navigate.
And actually, I want to build on another point that markets and regulations typically, I mean, regulation in particular dictates what a business needs.
dictates what a business needs. Sometimes it's actually not driven by the business itself.
Sometimes it's actually not driven by the business itself.
No. And when we look at data, I mean, big data
has been the conversation for the last decade or so at least. And it's the lifeblood, like I said,
of many businesses. And MPC provides many use cases and solutions to allow businesses and
web-free native projects and folk to own their data data in different ways be more innovative collaborate in
different ways ensure they're compliant across borders i mean the solution is is also a necessary
one um which is driven by external forces too i don't know if anyone wants to build on anything
there i've seen cryptid has requested to come up so i think that let's let's
hop over to him after this but is there anything else on on the question we were just discussing
oh that's that's good cryptid up i think that'd be nice cool that would that would that words
bear with cryptid nice to see you uh fire away
if you're up
ah can you can you try again if it oh no you're here you're a speaker please go ahead hey cryptid
hey hey you see thank you for inviting me up uh i had a very general basic question because it was, I guess, positive to hear that we've got weekly staking rewards.
My general question was, I think there's a lot of concern in the community about the amount of funds left, that there may only be two years of funding left.
And given that we're several years now beyond token generation, beyond launch,
and we still haven't got, I think even being generous,
we still haven't got across many aspects a very basic level of things,
so a basic ecosystem, basic marketing, basic trading volume,
all these things that you would expect several
years ago, and considering we've only got perhaps a couple of years of funding left,
have you got any timescale when we can expect to see like a basic layer of things operating in Partizia? I will...
Thanks, Cryptid, firstly. I think very fair
question. I will
pass to Peter
to begin with, and then I'll give my lens, I guess,
from a marketing perspective
after we're relevant.
I would say
over everything, so basic
developer relations,
a basic browser that works basic marketing
basic communications basic trading volume all these it doesn't even need to be an advanced
level it just needs to be the the very basic the very sort of meat and potatoes that you need to
even get started?
No fair question, one I would say that there is certainly development so I want to
not make this a binary or polarised view but for sure we've not met the mark in a lot of those areas. They've definitely been talking points I know because I've been part of those talking points
but I'll refer to Peter to begin with because i think there's a more
important high level strategic view and then we can we can hop into some of the details it's fairly
good thank you please thanks cryptid yeah i'm gonna hope that my connections are sufficiently
stable but you can actually get what i'm saying so so i i is wrong i think the question is wrong. I think the question is very fair in itself.
As a trajectory for future.
I think that we...
Peter, you're breaking out again, on my end at least.
Yeah. Peter, I think the connections are challenging
maybe i can jump in for a second then yeah please because kripp thanks for the question right you
mentioned something very specifically like these these basic things like a browser.
So over the time, we improved the browser a lot.
I think it's in a...
I spent like the last eight, nine years in Web3.
I agree.
The first version was very different from, let's say,
Etherscan or any Cosmos stuff.
I think we improved it a lot.
And we still have initiatives on the roadmap to
improve it and there was a very large strategy and sort of minimizing the friction for for
web tree users to search the transaction see what's coming in and out uh do the delegate
stake and so on i personally think we got far uh there's a banking view uh phase three coming
out soon uh there's additional uh support on on the platform features um other components like rpc
api is something we worked with i think we got in a pretty good state as well
we even have a smart contract id the playground where you can go in and
deploy and invoke functions so what i'm saying here is that i think this feedback is valid i
think we got far and in my opinion we're very close to get to a a pretty good level uh as for a web3 platform
um i'll i'll just build on that i don't know if peter's got his connection back yet but i'll just
build on that from a from a marketing perspective i hear when marketing and actually a question from
you earlier in the community cryptid was exactly that there is marketing firstly um community management is marketing content creation is
marketing do you mean ko wells do you mean paid do you mean seo do you mean co-marketing with
partners there's i mean it's broad and diverse right and i'm happy to get into specifics probably
later in the conversation but i'll loop it back into the the comment you've made around updates
and upgrades we all know or at least the people that have been in the Patizia community for long enough,
know the challenges and the struggles and the difficulties of managing the community
and some of the details, which I won't go into now.
But we've reached a better space where, actually, I want to bring in more tooling
and introduce more involvement from the community whether that's
just day-to-day dialogue and feedback that i pick up and i always feed back to the team which
happens currently through to i mean the visit that you had to the offices in denmark through to
workshops that we can have with different teams that I want there to be clear feedback loops as well,
because if we hear your opinions and thoughts,
like I said, in a mature, not just you, Cryptid,
but everyone in a mature, respectful way,
we can take it on board, we can respond to it.
We can either make sure that development goes ahead
or give reasons for why it won't or when to expect it.
So I guess from a marketing perspective
but i want to hear your thoughts and and it's why i've kept the community open despite some of the
the challenges um i don't know if peter are you back yet if not i'll probably go to mark on this this as a council member.
I will take that as a no. So Mark, please. Can you hear me?
Yeah, we can hear you.
I can hear you, thank you.
I don't know. So I'm struggling with the connection because I can't be on the better place right now.
so so i'll try this and then you you can kick me out if it's too horrible can we do that yep
So this is the best network to have a big problem in America.
yeah we can hear you now it sounds clear thank you okay good no but uh we want to do things
differently and we're also pursuing a lot of uh these uh different venues as as as we're doing and
just today we had a very interesting discussion use of
mark and i about some of the different ways that we can do things so so i think we're not trying
to actually we're trying to learn from the past not trying to repeat that's actually our aim here
and you also have to uh i'm hoping that you kind of want to respect that because what we have done
in the past has not worked.
That's clear.
And we're not arguing that.
So we're definitely trying to do something different to achieve better results because
what we have had done has not worked sufficiently.
I'm not gonna regale you guys with the learnings that we have, but we're definitely also learning
from the past because the past is only a trajectory that we want to avoid, not a trajectory we want
to repeat.
Okay,
thank you.
The large part of my question was
when can we
sort of see this, all
this progress coming to a point where
when people will have different
interpretations about when we
reach this point but i think when can we roughly expect to sort of finally say right now we've got
everything in place we should have had four years ago and now it's in place now everything is working
on a basic level i mean i want to jump in there again it's quite polarized and binary
there has been progress the fact that a multi hundreds of billion dollar
company has been around for a hundred years wants to use our tech is massive progress
i don't think we should overlook that. It demonstrates the test. I'm not talking about progress like that. I'm talking about having all the basic things in place
so that people are no longer having these conversations.
But tell me what that means.
Sorry, give me one example so we can be specific.
Give me one, just one.
Okay, so a basic ecosystem with like a basic DEX
that has liquidity on it.
Basic communication.
So if there is an announcement, it's followed through into different mediums.
It's on CoinMarketCap.
It's on Reddit.
It's on in different areas.
Their basic trading volume.
So let's say, let's look at a basic volume of 100K, a million.
Just anything like that that's on the basis yeah that's three that's three examples let let me take two of them so marketing we we do put
announcements in tg we pin them they're thorough there's a blog which is a different medium which
everyone can link to we share it across linkedin we share it across tg we share it across discord
to we share it across linkedin we share it across tg we share it across discord um we make sure
that there's active dialogue from community members so we're hearing feedback live we get
that feedback we give it back to teams internally um i mean look and i'll be candid here at the
moment the team on the marketing side comprises of me and my content lead so yes there will be
mistakes and yes there will be prioritization in certain areas.
So we won't capture everything.
But I'll be candid.
There's a lot of straw man arguments here around when marketing is just false.
I'll get on to liquidity.
So liquidity, a lot of projects, as you know, wash trade, they, I'll call it, engage in the dark arts. So actually,
a lot of what you're seeing in the industry is fake. It's
nonsense, this regards it doesn't make sense. It's complete
fallacy. The fact that we're doing things by the book through
a Swiss regulated foundation, and we're not, we're doing things by the book through a Swiss regulated foundation and we're not just wash trading or creating volumes out of thin air should be a positive thing.
You get a real stasis on where we're at.
Yes, it needs to improve.
Absolutely.
But liquidity and volume should really be driven by users and organic methods, not us making it up just to appease you guys.
And I've probably been told I can't say this,
but we do have the right token infrastructure in place.
We do speak with market makers, some of the best in the industry.
But our job is to provide a trading environment
where there is liquidity that people can trade in and yes it's it's not enough in many
instances and i've been having that conversation internally but again a binary or off-the-cuff
remark that actually has a lot of nuance uh i can go into all of the details around what market
making means if you need but it's just not true that we don't have infrastructure in place
so yes it needs to improve it's not true that you don't have it in place i said about reaching a
basic level well it is at a basic level there's a market manager on exchanging perceptions about
what sure yeah i mean i'm curious on a serious serious question how much experience have you
had in in web3 how much experience have you had in Web3?
How much experience have you had in marketing?
How much experience?
And it's not to be defensive.
I've been in Web3 since about 2017.
Professionally or personally?
Personally, I don't work in the industry.
In communications, in marketing, I started out as a vice president communications
uh i've now been in the industry about 20 years uh working in different aspects in
in visual media now yeah visual media yeah so again merit to what you say but i think not the
complete picture in terms of how it all works but no fair points though i don't want to i don't
want to dismiss i don't want to dismiss what you've said we do need to improve things on the
liquidity side we do we can do much more on marketing for sure from my perspective i just
wanted to make sure the community environment which is bottom of funnels is in appropriate
shape because even if i had spent 20 million dollars and it was the best marketing campaign
in the world and then it got driven to bottom of funnel in a community where one it was quite
abrasive and difficult to have real conversation and two you've touched on it we need more adoption
I wouldn't spend dollars until we're in a better environment to actually maximize our marketing efforts.
So that's some of my opinion there, but all fair points,
and we do need to do better.
Sorry, what was the first point in crypto?
I'm not going to say any more points,
because there's many points about basic levels.
Sure.
I mean, under any sort of
measure of my measure i wouldn't say that we've achieved that yet maybe my standards are higher
i don't know but i wouldn't say no no i'm not sorry no i'm not sorry sorry but particularly
i mean i've got 20 years in communication. Sorry, I get that.
I'm not going to accept your standards are higher.
My standards are extremely high.
And we've had dialogue one-to-ones.
And you know what I've been doing.
And so do other people that have worked with me.
So that's a cop-out answer.
But I do think we do agree that things need to improve.
We're all aligned on that
me peter matthias mark you others in the community so appreciate the sentiment agreed we need to
improve please keep firing over feedback we'll take it on board and look we need to do better
um i'm gonna go to another speaker so cryptid thanks a lot for
hopping in but we do have some other requests thank you take care
Naeem I believe you were first and then over to Manny hey how's it going
I can't hear you Naeem
if you are speaking so I'll go over to Manny
Oh I didn't know I was
I got the mic
Can you hear me now? Yeah I can
Go for it
Yeah I mean I kind of lost my train of thought
in the thingy but I mean
there's been a lot of interesting discussions
up until now and a lot of interesting discussions up until now
and a lot of what I've wanted to hear to some extent and the questions that I've put forth are
broad on purpose to see what kind of responses come back and for me identification of the problem
is the most critical part of identifying a solution to not repeat what we've been doing for the last four plus years.
And all I'll say is, I guess, I'm bullish that Yusuf, you're able to identify these problems
and the things that Cryptid's mentioning is more superficial.
It's not the actual fundamental at all.
Like you said, there's no benefit in wash trading volume or satisfy those requirements of his
in terms of volume being at 100,000 or 10,000,
some arbitrary number.
In reality, there's the core things that we talked about earlier
in terms of that first question that I had,
in terms of adoption that's critical,
which needs to be worked on.
That's what I'll say at the moment.
Yeah, thanks, Naeem.
Peter, one for you.
I think the crux of that question, and correct me if I'm wrong, is you mentioned lessons learned.
It'd be great to get a few specifics.
I know we talk broadly sometimes, but even if it's two or three, I think that'd be a good start.
Peter, please.
That puts me in a bit of a bind to be honest uh learn because
some of quite a lot of those are personal and and i really in in in the place where i grew up we have
the saying that if you can't say anything nice please shut up so so some of the lessons have
also been that type of lessons and i really don't want to dive too deep into that
and that's also why we're doing it's very easy to do things differently because we're
we're trying to avoid the reliance of the same uh thing the question is um so in in
i think what i think the project is as a state right now
we're thinking that we need massively to to fund uh funnel find ways of getting
transactions on chain and and this is crystallizing as we speak more and more every day that that this
is actually the most important thing to get so So I think that's the biggest single lesson.
But honestly, I don't want to give any specific details about it because
it's not fair to the people involved.
So look, I'll push on.
Go on, please.
Sure.
Naeem, go for it.
Yeah, I mean, for me, that's a bit of a cop-out.
While I really respect the character of the saying that you mentioned,
I still believe you could still say we failed on adoption.
We failed on bringing any tangible applications or utility to the network
in four years where every project I've ever experienced
that this sort of calibre has launched with a basic,
let's call it a starter kit.
The other things that you mentioned earlier that's upcoming, the liquid staking protocol,
which some believe may be a blue chip project, which I do not believe.
You've got a liquid staking protocol on ICP worth about 20 million market caps.
That is not blue chip, right?
So you have three D-
No, but I mean, if you want a generic uh failure
statements i can provide with that yes we failed in adoption yes uh we failed to launch uh that's
critical to understand that you guys understand what where the failures are and but i think the
public may not see that because of the saying that you said and I understand why you're doing that but that is music to my ear there's a yeah sorry you sir no no but I just want to I want to jump in
to be fair on both sides there are a lot of there are a lot of issues that I'm aware of that involve
personal names which is why Peter's being respectful and professional around that but
what I was going to say is I do think that I would push on an answer of
where we failed on adoption whilst removing the names for example we don't have
that starter kit DeFi starter kit that we're working on now for sure we've made progress on
but it should have been sooner so even something like that for me i think would be a reasonable overview naim am i
correct okay you're showing love hearts absolutely spot me i'm i'm i'm smashing the emojis because
everything you're saying is what i want to hear and that's why my campaign is yousef for ceo
no offense to you for peter and kirk but like uh you guys are covering a lot oh but i i really want
to relinquish that pattern it is oh we said that. Is this the announcement of Yousef?
No, it's not. This is the announcement of Yousef, the CEO.
I'm joking.
Sadly, we do have some sort of governance in place, so there's a bit of paperwork that
we need to go through. But let's talk after this.
Yeah, for sure.
Maybe I'd like to add a thing on top of that.
Oh, please, Mark.
Yeah, go for it.
I think I fully agree there is a failure, and there's quite a few failures and quite
a few hard learnings also.
And as you mentioned, your starter kit is definitely one thing that needs to be there.
But also a thing we're seeing now is also it's brilliant coming out kind of first.
And first is a bit in quotes and saying we have the most brilliant MPC tech in the world.
And we do. I fully believe that.
But part of what you do, right, is you start educating first because people will look at you and say, oh, that sounds really interesting.
But how do I use it? educating first because people will look at you and say oh that sounds really interesting but
how do i use it right what how oh that's smart that argument stands in 2022 but not in 2025 come on no argument we are going we are going back here we're going back in time and i think
over time now you also see we're seeing sorry Sorry, Mark. Peter, I think there's noise coming.
Sorry, sorry.
That's what I'm saying here.
Take the name, the story backwards, right?
In 2022, you're starting educating and saying that.
And I think there was a good learning experience understanding of when I go out, if I needed to go to you now, if you were a tech, full-on tech builder, I'm sure we could nitty-gritty and make cryptographic proofs on a whiteboard and we'll all be happy.
But practically, what we actually need to discuss is being very, very good at understanding this is the cases that we can run, right?
Look at this.
This is what you're actually able to do, right?
And taking down in an order where it makes sense, where it's more digestible.
I think all of us with with some type
agreed but that that you kind of did that back to front because you focus on the enterprise front
which is more uh yeah longer lead time yeah and we're now starting to see flouritions of that but
in reality you could have displayed precisely what's called case examples that demonstrates
and then build upon the learnings from that because like again the issue for me is are we learning are we actually learning from things because ultimately when uh zk and i understand
like lorenzo's nova mining verse didn't provide feedback but then we have people like hasi there
we have zk cross people who are actively willing to provide feedback is that actually being really
listened to and actioned or is it just passing away like in the wind and another forgetting thought
and then we get some disillusioned developers that think,
why are we even here?
Yeah, but I think that's a...
That's my question.
Sorry, but I'll hop in.
I'm going to boot you from speaking, not for any other reason,
apart from I want to give other people another space.
But Mark, go for it.
I've got some comments around it.
Brilliant question. And I would say But Mark, go for it. I've got some comments around it. Brilliant question.
And I would say, yes, we are listening
and the developers are listening too.
And if we don't,
I would much rather have people poking me right now
and then we'll be even better at listening for this.
So the feedback is the most important thing we have for this.
And I am fully open for even listening more into this.
I would go, and I hope I'm not overstepping the mark here,
but I think it's able to be public.
But we are, I mean, we've heard some items from NodeOps
and other feedback that we've taken action on.
So we are stress testing the system as
we speak which allows us to understand scale what we can do on the enterprise side and kind of
showcase that which is a another tool in the armory for adoption as well as a byproduct granted but
of sufficing some of the requests on the node-op side which i won't go into
detail of now but that's a specific example of feedback that has been heard and i mean i could
go through a long list from my side because it's name as you know from working with me
process and feedback loops and everything is what i live and breathe so it's definitely happening
i can't speak on the
history of the last four years because I've only been here a few months, but it's important. And
that should happen across all audiences. On the community, I have controlled air and I'll make
sure there's the right frameworks for you guys to give feedback. Similarly, we need to do the same
with builders and devs and a few other types types of stakeholders which when i'm involved i certainly make sure happened so um thanks naim important
and then mark was was there anything else from your side before manny sorry go ahead perfect
thank you thank you uh manny we are bringing you up so how are you? Can you hear us?
Hey.
Yeah, good then.
Questions, and I've got a little bit of feedback to leave.
So my first question really is to you, Yusuf.
Yusuf, how long did it take you when you came in to get a basic understanding of the tech?
Honestly, longer than I would have hoped.
I've made sure that there's better onboarding.
We had the materials in place to give credit.
So around our use cases, certain documentation around how we're working with partners
and other key components.
But frankly, it could be improved.
And I've already made sure that when people join my team,
those things are in place as a lesson learned from my own direct experience.
Look, I haven't learned everything, and I wouldn't profess to,
regardless of the organisation, because it's a very technical product and project.
And there's a lot that goes into a whole ecosystem,
but it took longer, without specifics,
it took longer than I hoped, frankly.
But those are things that we've worked on in terms of,
when I mentioned frameworks, processes,
and other things which are quite broad in community,
that's a key example, but good question.
So would you agree with me,
because I said this to ads back in the day,
would you agree if it took you,
but you would agree that you're quite intelligent.
Now for a basic person coming into Web3
and quite a lot of people in Web3 are quite smart,
but a lot of people aren't,
but a lot of people don't have a high memory span
wouldn't you agree that we really need to get basic tutorial videos that they're explaining
the text to people so people actually understand how amazing this technology is like it should be
really one of the main focuses of moving forward like getting the basic right so if you agree on that okay good no no firstly i'll
agree i'll i'll agree i'm intelligent i think we can we can go for that first but no in all jokes
aside i think um you're right uh when i and to give more context around some of my comments in
the community when i say foundational content spot on it's educational content not only for
existing users within our ecosystem or memory prompts or for people that don't necessarily always spend each of their days in our community.
It's also when we do co-marketing, right? a common partner or stakeholder in place.
But it's also to make sure that we can maximize the content there
because educational content can be shared across partners.
It can be shared in our existing ecosystem.
It can work at all levels of the marketing funnel.
So, yes, it's important.
And actually, it's one of the areas I'm focusing on at the moment.
So we agree.
Sorry, the next question.
My next question is, you do agree that a lot of people have invested money into Partizia
and nobody likes to see 99% of what they invested go to zero. And when it comes to investing,
emotions are involved. So people do get angry and people do get pissed off, especially when
the teams are earning six figure salaries and they're watching what they invested go to zero and no real movement is happening.
Now, we can't fix the past, you know, you have to move on and learn on.
And I take it you're taking responsibility and everything else.
But there is some people that might want to leave and they're always going to stay in this community
and just create food and everything else, no matter what happens, unless the project was to Zoom,
which I don't see happening in the foreseeable future right away it's going to take time to rebuild why don't you just release
the tokens of people and let people that want to leave get out because people are still locked up
and i don't know why you just don't release people's tokens and let the token actually
let the token actually find his bottom and then build from there.
find his bottom and then build from there so why won't you do that
So why wouldn't you do that?
Thanks, Manny.
Question for Peter, I think, on that occasion.
Yeah, really it isn't.
I think I have a check-in with people and crypto tonight,
and I'll give more details about it.
But it's really not our decision.
It's the network's decision.
Whenever we're talking about changing things that is fundamental to the network we we
if they want to do it so so it's not for us to design really
well i hope you think consider that guys you know like um the god's network i don't know
why you didn't put this gods you know you know, it should have just been one. That doesn't make sense.
But one of the things I would like to ask is, like,
as you can see, I think there's quite a lot of people
in this community that have stuck around,
and there's quite some intelligent people in here.
And one of the reasons a lot of people have stuck around
is, Peter, because of your credentials.
If this was some other people out there,
most people would have left a long time ago.
You guys on paper
are some of the smartest people I've seen
in the crypto Web3 space
right now. And I still
believe that you can deliver,
but obviously you need the right help
moving forward. So like, you need
to rebuild the community spirit
and reputation. Like, I said this
to Adriel, you know, I don't understand why you
just don't once a week just come and hang out in your discord jump onto VC you know get builder build a relationship
with your community you know start rebuilding the the damage that's been done moving forward
and you know like I I witnessed people that have got no coding experience jump onto chat gpp fork a dex and um launch dexes on um various chains what we've
only got two places mixy and i think it's bitfinex that has got npc token why can't the team who have
got so much credentials just create a dex and put some liquidity into it and let that patasia own it
and have some um what do you call it, transactions coming in and any volume
and any percentages it makes go back into the token. Why can't you do that?
The legal consequences of deploying a text. Sorry, I'm just going to jump in. Manny,
thanks for the questions. I'm just going to allow someone else to step up after and hand over to Peter to answer. Thanks, Manny.
Yeah, the legal consequences.
That's one of the reasons we're working together with CAA.
You probably all follow the collaboration with them on the site, dive too deep into that. But my point is that there's
a point of origin, you are seen as a bank.
So you actually have to have live up to the same sets of regulation as a bank.
It's not simple for European entity to just deploy this even outside of the foundation.
Again, I think there were technical issues there,
but the summary I got, and from my understanding,
is some of it from a
from a foundation building perspective is around compliance and legalities particularly when you're
dealing with what could be deemed financial product um but but that doesn't i mean that's
the reason the grand program exists and that's the reason why zk for, is one of the partners who have deployed their DEX.
Yes, liquidity needs to be provided.
And just because I don't know the legalities around it, I'm not going to speak on specifics.
I'll let Peter do that if he's back.
Mark, I don't know if you've got anything to add there.
And then we'll go over to Oz Dave.
Before we do, Matthias has a hard stop now.
So thanks for your time.
Mark and I will hang around at least
for a few more questions
as well. Thanks, Matthias.
Peter, I don't know if you heard anything
else.
No, I really hate Twitter spaces.
Can I say that? I really, really, really
hate Twitter spaces.
No, what I said
is that the foundation cannot deploy the debts that's outside of the regulation.
And if you're doing it from Europe, then you are effectively deploying a bank.
So you have to live up to the regulation.
So that's also why these things are mostly coming from Dubai.
I don't know if you heard that. Yes we did. Yeah we heard that, that was clear. I'm gonna bring up Oz Dave again, sorry not
again and encrypted again after that as he's requested to speak. Oz you first. hey how's it going hey i can't hear you you can hear us yeah can you hear me okay
oh wow um i think you're you're in the same connection as peter
i'm in australia so it's a long way away. Oh, no, you're back, you're back.
No, Twitter's just a bit of a mess.
Go for it, please.
I just want to double-click on something you said, Peter,
before on this token unlock.
It's related to the ability to create proposals.
You mentioned that it's up to the network to decide this,
but do we even have a mechanism for proposals to be created
by NodeOps or anybody else for such a thing to be voted on?
Or can they only be ransed by the foundation?
There's a mechanism.
You probably need help, but there's a mechanism,
and I'll be happy to route you through it.
I'll be happy to do it.
I mean, the foundation can serve you if you need help.
This is just a technical proposal, so I'll be happy to route it through to you, you need help. This is just a technical proposal,
so I'll be happy to route it through to you, not a problem.
I think it'd be interesting because I know that there are lots
of these sorts of things that NodeOps would probably
like to create, but the process was a bit opaque on how to do it.
Yeah, but happy to route in.
OK, great.
I'd ask if that can be shared out to the wider
Node.op community as well once I start.
I think it would be appropriate.
Yeah, sure.
Absolutely.
Perfect, perfect.
OK, great. Thanks, thanks odds was there anything else
i see nothing more from me oh oh is your name oz dave because your name is dave and you're from
oz is that uh your powers of deduction are amazing
good to speak to you live outside of TV.
Take care.
I believe it was cryptid first, so fire away.
You're up now. No, you're up now. I had a question. It's not my question, so I don't want to be accused of hogging the space.
It's for someone who can't be here.
And their question was, whose idea was God's Network originally?
And when was it first conceived?
Ah, I know who exactly that was. originally and when was it first conceived?
Ah, I know who exactly that was. Yeah and it's a bit of a shame that Matthias is not here because it really is. The legal registration that happened this year
where we founded the company and that's where we started building the i mean some of these ideas
around not only in particular context but also in blockchain and what i mean a lot of these things
has actually been around so a lot of it is breaking the combination of it and then all of these things
were settled in late 2024
and that's why we wrote the white paper and founded the company.
Sorry Peter, connection issues again. Mark, are you able to add a bit more clarity there?
If I can find the unmute button, I think I succeeded. As Peter said, 2024, founding and part of writing white papers
and everything else coming into that structure,
and then going over there.
I think that's very simplified.
Everything came from that perspective up until now.
So from 2024 and forward.
I can't remember the month, to be honest,
and I'll need to go back and look for this.
And that includes white paper writing also. Beginning of the year, middle of the year,
end of the year? I'm playing devil's advocate here. I'm going to my calendar. Just a second.
I'm going to my calendar.
Just a second.
Just a second.
I have
2024.
What was
Mark's looking? Was there anything else on top of that
cryptid, or can we bring Manny up?
I think the other part of the question was
and whose idea was it
as well, as far as
I'm aware.
I'm going to'm i've been fed a whole way through yeah anyway i won't i won't comment on that i'll
wait for marketers come back by the way i'm not involved in god's network by any means and my
only involvement is with the foundation and the public chains just to just to be clear um go for it mark if you've got any yeah september october more or less writing out and going forward i don't know if if my connection
i i have really poor connection currently so i don't know if you can hear me uh i i think
defining whose idea was what is hard uh there was a collaboration and the finalised white paper is the sum of
everyone involved and all that and that has been reflected into the funding structure of the company.
Thanks Peter, that's where I was going to play devil's advocate, trying to
pinpoint an exact idea.
So it sounds like the answer is multiple people at multiple points with ideas that probably spanned multiple years of experience.
And process is not unimportant here.
There was a process where we did things together and at the end we had a final value offering.
And that process is not irrelevant when it comes to developing ideas.
Okay, perfect.
That sounds as though it's been encrypted.
Correct me if I'm wrong, and then we'll hop over to Manny.
Yeah, thank you.
I'll leave the question asker to decide.
I was just a conduit.
Thank you. No, you are the question asker to decide. I was just a conduit. Thank you.
No, you are the question answer.
I'm purely divested to make sure the questions get heard.
Thanks, Cryptid.
Manny, you're back.
It's been a while.
How are you? OK, thanks for letting me back up.
I've just got one, two quick questions.
I asked Peter and I spoke to Peter and he said he was going to get me a pitch deck for the tech
so I could give it to other projects who might consider using MPC, using the blockchain.
I just want to know when that's coming.
Bruce was added to the chat. I just want to know when it's coming. Bruce was added to the chat.
I'm so sorry.
I'm so sorry.
Please note this, Yusuf.
I have forgotten about it, and it's my fault.
I'm sorry.
I've noted.
It's the feedback loops across the business
and NodeOpt proposal for Dave from Australia. And we're going to share that more broadly, too. So they're the key things across the business and node opt proposal for Dave from
Australia. And we're going to share that more broadly too.
So they're the key things at the moment. Manny,
was there anything else on top of that?
Yeah. So look guys, we need to obviously move forward.
The real for me, it's just, let's get this token sorted out, you know,
release it to people and just let it go. Or, you know, if you're going. I don't know if you've seen EOS, they've
just done a rebrand and they raised 4.5 billion in the last 2017, but we obviously need to
find some sort of stable ground here moving forward. Let's have these AMAs every couple
of weeks in the Discord, or it doesn't even need to be an AMA, just have a hangout with
your community and let's move forward as a community a community it's going to take a road to come back and you've got all
these people in web 3 you know if you have a pitch deck they can they can take that over and try to
get projects to come over here and have have use case you know use the people that have you've got
in your community to help you grow you know like i'm not um i can't say too much but i've just helped
three projects secure um funding
and they're going to be launching on avalanche and it was it was very easy to do you know it
was just simple meet up with the foundation the people i know get them in have a few meetings and
that's them they're going to be launching in the next six months so come on guys it's not it's not
rocket science in web3 but you but we can do so much better.
But don't be so disenfranchised from your community.
Work as one and we'll have disagreements, cool.
But if we work as a project and a community together,
I think we can be a success.
So I really hope I see that moving forward.
No, thanks, Manny.
I think that key part at the end is super important.
I mean, Naeem can attest this and he's more vocal now. He's not with the team, but we just had the conversation earlier between Mark, Peter and I, where I mentioned more community involvement. people there who understand the industry well and have their own skill sets and value they can bring
and actually I don't say this lightheartedly it's it's a big reason of why I joined yes there was a
lot of noise but actually I saw the talent and potential within the community and that's the
backbone and the foundation of any successful web3 project so no agree just just one thing before i quickly jump off
i did ask peter peter when as i asked you when are you going to go and debate and this tech
against other um devs out there when is that going to happen when are you going to be able to
debate this on a level outside that's i'm waiting for that because you said it to me, your tech is the best.
You should be running debates right now. You should be speaking at conferences right now
and challenging other people. Yeah. So maybe I can give a bit of context on this just for a second.
And we are actually challenging quite a bit in the market. And I know we can speak Nillion, we can speak Fireblocks.
There's other things going on on that.
I think that it comes in two stages.
So personally, I think there's always a combination of understanding
of when do you go to a conference and necessarily just pay money for being there.
And actually, what is the return on investment.
I don't necessarily think always it's the most best
or the best idea actually going there.
But at the same time, you also need to show,
what do you call it, show your wings, so to say, right,
at the right places at the right time.
I think that is one consideration.
The second thing is a lot of the if
we go deeper into the tech we we do a lot of conversations and actually challenge in a lot of
the both research articles and and some of the conversations that exist out in the market on
we don't either we don't say it's necessarily secure or there could be an optimization challenge
for for what we do i think some of it definitely can be more public, if that is a thing, absolutely.
But at the same time, we also try to focus on saying that the tech in itself is very valid,
and there are some very valid cases that you can run where you use the tech directly.
I think going out with that gives better conversations and more conversations
based on this and we do also release a large part of if we find something new or if we
we do any new research right you you saw part of this a quantum thing right it is actually taking
exactly what we do here and actually showcase, well, there already exist
structures that is post-quantum secure, that is dependent on primitives that exist in the world
of this quantum threat that actually out there. On the AI space, you're looking into federated
computation, you're looking into potentially doing something around this DID consent mechanisms on on AI agents,
right? There's other things happening in this, but we, I hear you and we can definitely be more vocal.
And I think there's a broader piece to this, which is, it's about boasting around our tech
and our achievements, which is more than just conferences and debating it's amas it's content creation it's co-marketing it's actual development um and working with these
enterprises and projects to to showcase that so i actually think it's broader but a valid point
nonetheless thanks mark um naeem you have been patient in waiting but I'm gonna go to the Fennec first of all because he's not had a chance to jump up yet so hope you don't mind hey Fennec
how are you hey you're you're up I believe so how are you Fennec hello
hello everyone I hope you are well I just wanted to talk about releasing
the token of the vested token.
I don't think it's a good idea.
First of all, because if you release the token,
everybody will sell. I would sell as an investor
because we know that that will create a sell pressure
and the token will look like a rush pool.
Yeah, and I don't think it's a good
idea to do that i think the the the step forward is to work on the project show that we are the
project is working is progressing and people will change their mind and we are holding i can send my
tokens i have no no vested token here I could send all of them tomorrow now.
But I'm still holding because I believe in the project. I'm sure there are people who believe in the project.
And by doing the right things, those people that have their token vested and they're not happy, they might change their mind and keep them.
That's all I wanted to say. change their mind and and keep them.
No, no, I appreciate that. Thank you. I'll bring Naeem up in a second. I want to address, I don't know if there's typing, maybe Peter from you, if you can mute please.
I want to address that actually because there's a fundamental discussion point off the back of that
which is I see it a lot in the community.
And it's what I meant earlier when I said, let's not be binary or polarized.
People keep referring to, quote unquote, the community.
Fennec, you're active.
Cryptid's also active.
Manny's active in many ways.
Naeem is.
The list goes on and on and on and on.
There are different opinions and there's nuance
and there's different opinions on different topics.
So at one point, community member one, two, three
may all agree on a subject and then it's only one and two.
So yes, we receive a lot of feedback and information
and there's nuance to it, right?
There's also partner considerations,
internal considerations,
a whole bunch of other things that go into what running a business and project is.
What I would say, though, as a tangible kind of thought or thing to leave is this is why voting and the right governance mechanics need to be in place.
So this is exactly what it's for in a decentralized world and I want to put it out there openly
without being prompted.
It's actually a really important consideration and topic to bring up.
So Fennec, thanks for joining and giving your opinion, not just a question.
I think that's important too.
Was there anything else from your side before i bring up naeem
i will take that as a no and boot you but um thanks a lot for your input and thanks
for supporting the community when you do too naeem you are up and I will open the floor for others as well.
There aren't any other requests to step up at the moment.
But if there are, or you're interested in asking a question or making a comment like Fennec, then please hop up.
Naeem, over to you.
Thank you very much.
Yeah, I've been hearing, for me, it's been good.
I've heard what I need to hear.
But like obviously, as others can attest to to that's just all words and not actions um and for me uh four years
have gone and anybody who is remaining at the foundation who has been over there for over a
year or two should be under scrutiny as a foundation that's uh you know purposes to maintain and build this public blockchain you are doing
uh the project and as as early supporters a disservice by maintaining uh or you're not
changing things radically it sounds like things are happening behind the scenes from
sort of between the lines uh which is great to hear but ultimately that's critical for me to see like going forward
and then I guess I'll end with the I think the last question of what I'd submitted in my little
epilogue to some extent which was what in your guys opinions is the single biggest existential
risk facing Patricia blockchain right now and what is your i know i know it's broad but i just like
usually if you answered the other broad question well this is what like for me do you guys know
the problem and are you guys do you guys have a plan to address it because a lot of stuff that
i've heard over this conversation without mentioning any names have been stuff that
are like yes we have amazing tech yes we deserve attention but no we're not going to
fight for it and I'm generalizing there a lot of the statements have been to the contrary of what
you've said Yusuf specifically but otherwise that's what I've gathered from some of the other
answers to the other questions which to me is not good enough and it points towards what I think Manny was trying to allude to is when are
we in a position to now you know be able to speak with confidence about the technology and I think
we're getting to that point like Yusuf's outlined for various reasons. Yeah Naim I'll take that less
of a question and more as your thoughts. The last question was, what do you believe the existential challenge
or risk is facing Patizia Blockchain right now?
Where do you believe it is?
Is it in the tech? Is it in adoption? Is it in marketing?
Is it in business development? Is it in finance?
Where do you believe that the fundamental issue that needs resolving is
with all things considered, based on all the knowledge you guys have of where we are after four years in terms of where the final financial situation is, in terms of the model of what is generated as revenue?
As far as I understand it, no transactional revenue is actually going to benefit the foundation in terms of sustainability.
So where do you guys see that existential risk or
that fundamental issue that needs resolving?
Wow, there's a lot going on here, right?
Go on, Peter, please.
So I'll try to answer some of it. So just pointing at one specific thing, the fact that there's no transactions on chain
makes it really, really poor choice
to start thinking about taxing.
So we are not thinking about taxing transactions,
but we intend to do it as soon as there's transaction.
So there's sort of a chicken and egg.
There's no point in building,
no point in focus on building the taxation of it.
We have quite a lot of treasury,
which is harder to activate right now,
and that will bring us beyond the two years of a couple of hundred million tokens
that can be sold when need be.
I think there are a few fundamental risks,
and you're asking about what the fundamental risks are.
The key thing we need to do is get transactions on it.
That's beyond any sort of doubt.
The key thing.
There's multiple ways of getting there.
And so one of the risks could be that the blockchain space really doesn't care
about privacy and it doesn't become caring about privacy.
As a European, That would surprise me.
But it is a risk and it's a significant risk because if we just come to do what people do on public.
But change and just transact in the open, then we don't have a lot to offer because then all this privacy really doesn't make.
And then we left with only bringing on.
And I don't think that's enough. We need we need more value propositions on the table uh
so that's one place where we need to uh where which and that that's sort of uh harder for us
to single-handedly defeat we need we need to be there we also need to be seen and quite a few of
you have mentioned that we need to be
visible out there and it is a risk that we are not being seen, that we are somehow invisible.
That's a huge risk and we need to address that. And then we have a strong play on enterprise. If
we can't get enterprise to use proper blockchains and then that's also a risk but that's not as fundamental as the two former i think i think the two formats are two biggest risks
right now perfect okay um thanks peter mark is there anything to add to that from your
perspective and i'll go to one other question from the tg? It's a brilliant question. Thank you.
I think adoption is one thing.
It's also, of course, node ops and having a network that is consistently good
and finding that absolutely necessary for that adoption to also work.
It's also, for me at least, and i'll put the product hat on for a second is
also create the understanding of that that it's brilliant tech but we also need to make it
seamlessly building tech so you can you can build and get into this uh even better and i think
there's there's a lot of good info from the ones that are building, and
yes, also from the enterprises. But being very observant from this, and for everyone
here, also taking care of taking that input in and making sure that we make it easier
in this. Yeah, I think that's my two cents for now.
Yeah, perfect.
Thanks.
And I'm just going to add the marketing.
I mean, marketing and when marketing,
it's such a stereotype.
That needs to be sorted in this industry
and grow up a bit.
But the nuance on that is something
I'll always discuss and talk about in the in the
community for one but the kind of catch-all or overarching pieces marketing is an amplifier
yes you can be clever with terminology and positioning and everything else but ultimately
it's an it's an amplifier right so if some of the other fundamentals need to be prioritized then that's that's what I think
the right approach is before actually doing bigger marketing pushes so you're preserving treasury and
focusing it in the right areas which is around the product around the tech around the adoption
before you're amplifying in that amplifying that and bringing it to new users and audiences.
Just an overarching piece,
because I know when marketing always comes up.
Fenwick, if you don't mind,
I'm gonna take a question from TG first.
So Dr. Anon has asked,
will the team consider a buyback?
a buyback? I don't think it's something that I'm comfortable discussing here. If we were to connect
back then I definitely wouldn't be discussing it. It would be confidential. So I think that
what we really want to do is make sure that the token price goes up.
If a buyback makes sense for some people,
then maybe you should just send me an email
what you think reasonable conditions are,
and then we can work on that.
But I think it's hard to just do a generic buyback.
But it's definitely, I mean, I know this
because I've kind of raised some of this internally too,
that there are definitely different options
around the token economy that we've discussed
and are open to.
More broader than just a buyback too.
But thanks for the question.
Matthias isn't here, but I will ask the other question.
Yes, I have a question if you don't mind. Just a couple of them real quick.
Sure. Yeah, so you thanks for taking my question as a first one uh appreciate that i
know you guys are working a lot in behind the scenes uh just one thing that i see uh in
partition blockchain particularly compared to other networks that uh the develop activities
are quite less right so we have to uh i think we have to agree on that, like a lot of developer workshops,
adoption programs, targeting emerging markets are happening around the world, right? So why not we plan something like that soon as possible?
Because there are a lot of developers, especially like young developers who like to, you know,
approach blockchains, particularly things like, you know, multi-party computation is
very attractive for them.
So why not we are having developer workshops that targeting the outreach?
That's number one.
And number two, partnerships are great, commercial partnerships.
And I also agree like enterprise adoption is more aligned with partition of blockchain's vision.
That's cool.
But can we see the progress updates,
like frequent progress updates, like what are the solutions being given and what is the status of
them? Some sort of things that the people can understand, like what's going on with them.
So these are a couple of questions I have. So thanks. Yeah. Thank you. I'll take the developer one.
It's not actually my domain, but something I obviously ask and I'm curious on myself.
So we have brought on some partners.
I don't know how early on the call you were.
I think the whole way through.
But we have been working with some external developers and dev houses around how they can build out new POCs, deliver some workshops themselves.
We can also do some of this internally.
And then obviously the comms channels directly with our developers are going through Discord too.
I think an important component was raised earlier around feedback loops.
So what goes into those workshops?
What are the frequently asked questions? What are
the main challenges? How impactful or not are they? So we can prioritise effectively. I think
making sure that you're feeding back some of this to Bruce, for example, or whoever else is working
with you on the adoption side and the dev team is important too, because it will help feed some of
these initiatives. But there are definitely some underway.
It's just a step-by-step process.
It's not all at once.
And then the last, the other question,
I don't know if anyone's got anything to add there,
first of all, either Mark or Peter.
And then the other question was around progress updates.
So developer workshops to begin, or education.
I definitely hear you. And I think we can definitely do better on that.
We have done some work on the Japanese side,
with one school, one university doing something,
and I think there could be other good possibilities,
and any suggestions would also be appreciated on this.
any suggestions would also be appreciated on this.
Perfect, so a few other examples I guess, but more needs to be done like mentioned. The
the other question was around updates on development, progress updates on development,
is that right? Yeah, exactly yeah exactly perfect perfect um okay uh
well from my side i'm feeding through any communication that i'm updated with at the
opportune time um so pin messages uh social posts uh blogs and there will be more around that so
it's not just partnership announcement there's, but there's more depth to what the use cases are,
different case studies, how we're working with projects,
and like you've mentioned, some status updates.
Mark, I'm not sure if there's anything you want to add to that,
but important question to ask.
Brilliant question, to be honest.
I definitely think we can do that.
There's always, now me ending up sounding a bit
secretive here, that on the enterprise side, there's always sometimes when you can't really
say anything except, yeah, it's going well, then moving forward. But on the Topan side,
the first part that comes out currently is that we'll do a demo with Okinawa University,
or a pilot, so to say, to be honest.
Here, the expectation is it starts at the start of July.
And that will be ongoing for a couple of months, proving the ID
and ownership of that information.
And the next step from there is then looking at this
in what we call interoperability of identity into Europe
that is targeting a lot of this
on a more kind of raw public blockchain field.
That's one part of the discussion.
The second part of the discussion is around the classical idea
of what blockchain calls soulbound tokens.
And then we can always discuss what does that mean.
But there exists a lot of market around understanding
how can I create, a bit like the IDOS,
how can I create something that proves that I'm me
and have it in a decentralized way where it's still signed by a party that actually knows that I'm me?
The example is I go out and tell all of you I'm 20 years old and say you can verify it here with this DID.
And you get that's true because there's nothing backing my statement.
There needs to be some entity or something else that's
actually backing that information.
So that's the next thing coming into that.
There's a few other elements around RWA,
some around some AI thing also with your kind of biometric
and the DAD structure where you're kind of binding those two together
that it's slowly being worked on.
I think we can take the trust type example.
And just for making that clear, it's kind of a two-fold building.
There exists identity on PPC where we look at providing structure
around storing your key, so to say storing your key structure of your identity in a decentralized way
with the possibility of reconstructing your identity and potentially even do part of the facial recognition inside an MPC structure.
inside an NPC structure.
And then there is taking that, when that is done,
into a more generalized version where you actually
are able to reuse the identity across multiple chains
in this interoperability, where I'm actually proving
it could be a gaming example.
I need to prove I'm over 18 to game a horror game
or something else.
That is also ongoing into this.
And then there's a couple of more I can't speak so much about right now.
So I would love to give updates.
And I think it's also a community thing around doing this.
And I think we can also do more on it.
And yeah, sorry, I'm blabbing now.
But of course.
No, you went on to give some status updates, which is important.
But I think the key thing there, just cycling it back slightly, is yes, there are updates.
And if you want to see specific types of updates, please just let us know directly or in the community. And if it's relevant and beneficial at mass or at least for a certain subset of people,
then we'd make it happen.
So thank you, Hasi.
We do, well, one thing, Peter has a hard stop in 10 minutes.
So if anyone has questions that probably relate more directly to peter then it'd
be a good time to ask now fennec i've seen you've been waiting so let me get to you before i do
there's another question from dr anon in the community which is uh will the team consider
for the time being god's network suspending the 25%
I assume that relates to the fee until real value is brought back to MPC and
the reasoning is it shows trust between community and team and positive for
node ops, stakers etc etc. Peter? I mean I mean this is one of the questions
there's a simple answer then there's a deeper answer.
And I'm not going to go into the deeper answer because we are talking to different entities
to deploying the software and this is our starting point.
The easy answer is there's no transactions right now to tax it.
So yeah, we can send all the 25% of it's sincere uh nothing and and both would
be true because it it we're we're discussing something fictional uh i the the the money from
this uh revenue so once there's revenue and uh and if that revenue is very skewed towards one or the
other i think it would make sense to consider how the split is.
But right now, I think it's premature to have the discussion.
I'm not fundamentally against it, but I'm also not just saying yes.
I think I need to have some data and some structure around it to make it sensible.
Okay, the important part, I guess, is it's on the table.
What I would say on top of this actually is, yes, people are more fixated on the fee,
which is understandable given all of the context and history behind PBC.
but this is it should be seen as a tool for for adoption and the success of god's network does
But this is, it should be seen as a tool for adoption.
bring success back to the public chain so i don't want to overlook that part but understand why
the fee topic does come up um so as as peter said options are on the table and probably too
premature at the moment given the status of development
and partnerships of God's Network as we speak.
I think there's potentially another question from TG, but what I'll do is go to Fennec
to begin with whilst I check that out.
Fennec, welcome back.
If you can hear.
Hello.
We can hear you.
Okay, perfect.
I just want to talk about the on-chain transactions.
We have been talking a lot about this,
about having projects building on the chain,
which is definitely a good move, to be honest. We have many project building on the chain,
but on the crypto world, on the Web3,
it obviously is good what we are doing as a project,
but to ramp quickly, we need the proper DEX,
and we need a proper like launchpad, all the tools for
someone to create a token and trade it on the network.
If you look at Solana, how Solana took the light from Ethereum, it is because of the
low fees.
People didn't want anymore to buy a token and spend 60 quid only on gas fees or more,
depends on the conjecture of the network.
And we don't have that.
We need a proper DEX liquidity,
and people can easily create a token on the chain
and trade it and send a link on X, for example,
create a new token.
And this is about MEM tokens or even the project
that have built on Partizia haven't launched any token
on the chain.
If we look at, I don't know the names of the project,
there is no project who has launched their token
on our chain, on Partizia chain.
That's ridiculous.
I mean, if we want to have transactions on the chain, we need to have this simple
tool that all networks have, like a proper DEX where to trade, liquidity, and tools to
launch new tokens easily for people that don't have much knowledge. Because that's what will bring, that's what is bringing Solana the volume,
is not the project, only the project.
The projects are good because they are reliable,
they give that aspect of the project,
which is a blue-tip project
with many good projects launching on it.
But the transaction, the volume, doesn't come only from that.
It comes also from memcoins, from any kind of small project
that want to launch on the chain.
And we don't have that. Are we doing something about that? That's my question.
Thanks, Finning. I think that's a good question and just then just for summarizing so i'm sure i
just have it in so so it's really about uh it should be easily for for a dex of course liquidity
and easily being able to uh create uh new tokens tokens on it.
I think that's more or less what you stated.
I think we are in the process of doing some of it.
Dex side is one.
I think absolutely, and that's kind of reiterating
some of what's said before, that there is this,
I'll call it, seamless development
that we would like to have, making it easier.
And whether that is tutorials like to have, making it easier.
And whether that is tutorials,
whether that is making it potentially just easier,
actually writing the right code for getting something online,
is definitely something we are targeting in this.
And it also requires the feedbacks of the ones building already.
And that is definitely a process. On the liquidity side, we are definitely looking at it too, and also on the DEX side. Give us a bit of time, but it's heard for this.
And yes, and then...
But there are also the likes of Crowdmap and CryptoS of crowd yes and a few others that are soon to deploy who are actually here but want to hop in and even give your opinion it's not just all about questions
noted i'm i'm i'm just aware it's quite broad as well so uh some of it may have been covered
elsewhere but but fair question and noted and some of our builders are actually here with us with with Hasey and Crypto Factor.
So no pressure, but do raise your hand if you're interested.
Yeah, trust swap and a few a few others.
But no pressure, but Hasey or Matt, if you want to put your hand up and contribute, you're welcome.
If not, you're also
welcome just to listen in
thanks Fennec
can't see
another hand up
I will get shot down for saying something
like this because the last time I said
we went over
there was a bit of a meltdown.
But we are 40 minutes over.
Peter has to leave soon, and I'm happy to hang around longer, but I just want to make sure there are appropriate questions.
Naeem, if you don't mind, can we handle some of this in TG?
An emoji is a sufficient response.
A LARP in one is also fine.
Okay, thank you.
We got three ones, so we're assuming it's all right.
Three laughing emojis.
He could just be laughing.
Yes.
On that, thank you.
We got a thumbs up.
On that note, look, I want to wrap this up.
I want to leave by saying this isn't the the only
the only opportunity to ask questions anyone that's been in our tg will see i've been in there
weekends evenings early mornings not that i want brownie points but i'm available i guess is the
point and so has mark so has peter um also on feedback although small this is an example one and i know it's basic so again don't
shoot me down too much when i hop off but we've left this as an open forum and and wanted questions
and haven't preempted them or or or try to navigate it in a certain way so more of this as manny said
and uh crypto facts are i think matt i think you pad your hand up if you
want to come back up it's disappeared now um but i was just saying it it's it's a positive step
forward and and as manny mentioned yes we can dwell on the past but we should really be learning
from it as opposed to um dwelling on it too much and going
forward we need to make improvements we acknowledge that from the top and we need to do more
Matt you are up can you hear me
I can indeed that is a solid connection over to you Yeah, thanks. I just wanted to respond. I mean, first of all, thank you for taking the time here.
I mean, it's we're rolling into well into the second hour.
And it was just really in response to FUNEC really in terms of it links also to what Cryptid was saying about sort of baseline activities on the chain.
And effectively, that's exactly what CryptoFactor is aimed at.
If anybody doesn't quite know our background, we've been sort of node ops for right from
the start.
And it was only partially way through last year, really, that we decided to expand our sort of web-free architecture
onto Partitia. So which includes the generation of tokens, asset-backed tokens, all sorts of other
DeFi in terms of staking and liquidity mining, all that baseline stuff. I don't want this to be
sort of a description of what we are doing. I'm a little bit surprised that we're not a little bit sort of better known. And that
sort of question does arrive. But that's probably on us to make it a little bit more sort of
public to socialize what we are doing and the capabilities. In our defense, I would say it has taken us about six or seven months to build the necessary connections.
And I'm talking about our interchain bridge, which brings in our CFR token, our client tokens, and allows us to deploy properly.
It's not the easiest place to build, but it's not the hardest.
And, you know, we've experienced delays, but, you know, we've had the support that we've needed.
It's just been time.
I agree that we now need a baseline level of transactions on all three hats that I wear as an investor, as a node of and as
CryptoFactor, we need this now.
I always consider Partitia from experience to be segregated into these enterprise use
cases, which are fantastic, but they're long term, five, ten years.
And those items are developed and nurtured half of them may not come
into fruition 90% of them may not come into fruition you only need one in ten to work out
but on the flip side and what I really want to concentrate on is just getting up those transaction
levels because as it stands at the moment we've we've heard a lot of
um positives negatives frustration we've we've heard it all in this call um but as it stands at the moment from a no dot point of view you know we're expecting sort of heavy infrastructure
they're providing for the network that isn't cost effective. And that's the right to the foundation, right at the core,
we're expecting, you know, entities from all over the world,
we've heard from Oz, Dave, you know,
these guys are running the network.
And at the moment it's running at a loss for node operators.
And that is unacceptable.
And that is one of the primary reasons why we're like,
what is it that we're gonna build here?
How are we gonna help with this? And that's why of the primary reasons why we're like, what is it that we're going to build here? How are we going to help with this?
And that's why, you know, when we're moving CryptoFactor, allowing people to raise tokens on chain, basic DeFi operations.
It doesn't really touch MPC just yet.
And we don't proclaim it to be.
We've never said that we're going to be utilizing MPC based solutions.
I would expect in the next year or two, we're going to be utilizing it mpc based solutions i would expect
in the next year or two we will start to look at um those items but we want to concentrate first on
you know allowing as an enabler allowing people to come along make it easy for them there's no code
with us you know when we when we first arrive it will be a matter of just working through on calls, understanding what is required.
It is top quality, but we don't actually have the platform
as in a self-serve platform just yet.
So it's just about really talking through requirements
and that sort of thing.
So we're growing, but our eyes are really on trying to help
with that problem statement.
So don't be, you know, please do just hit me up
with anything, any ideas, we're here to help.
No, thank you for coming up.
Actually, this is incredible to get Node Ops,
builders, community members, colleagues,
ex-colleagues, all in the space.
So thanks for the context.
I don't want to, I'm not going to address some of it because I think it's been addressed throughout the last two hours or so.
But thanks for talking about what you've been building and your experience in the ecosystem and also with the team.
I'm going to use that as an opportunity to bring Hasi up as well from CrowdSnap.
I think it's actually good to get you guys a spotlight.
I mean, we've got community members here and a decent turnout.
So that's the first step in getting a bit more awareness.
So thanks, Matt.
So thanks, Matt.
Hasi, I'll bring you up now.
Hasi, I'll bring you up now.
You should be able to speak.
Hi, Yusuf, can you hear me?
I can indeed.
Welcome back.
Yeah, thanks for the opportunity.
So just a couple of things.
I think someone in
in the community mentioned that there's no token uh launch yet on partition blockchain and uh we
actually planning to launch a one in in couple of months time so we are just uh think we are ready
to launch but i'm just waiting uh to make some some utility before the token launch.
That's one thing.
And the other thing is our platform,
our product looks like more enterprise and more B2B space,
but it's about the data.
So when it comes to data,
it's not always where it comes from and where the data is required,
but also where the data is generated.
So I'm also looking for some community use cases.
Like I see there are lots of things that we can do
with MPC, particularly using our platform
with our integration.
So if you have any sort of idea, some past experiences,
so if you are any sort of idea, some past experiences,
or if you are working with something related to research data, data analytics space,
please just direct message me on TG or in Twitter.
So I'm really happy to hear
and see if that use case can be integrated
into our platform and make a useful MPC-related use case.
So, yeah, happy to get more involved.
And also, I'm experimenting a lot of things these days.
So I really appreciate you guys can get connected
and help our participate in our community activities to support building the ecosystem together.
Thanks. Thanks. Thanks, yourself.
Thanks a lot, Hassi.
I think actually the last point you made
is something I was noting as you were speaking,
but the ecosystem, well, the success of the ecosystem
and any ecosystem is just the success of those that build on top.
So please do support Hasssy at crowd snap and matt a crypto factor um although it's on us as a team to drive
the success you all do still have a hand in this and and i understand the history i understand the
frustrations i understand the emotions and all of that but if we are to turn over a new leaf which is where i'm looking to get
to is um support support our builders here as well support the ecosystem in in other ways and we'll
keep doing what what we need to do on other fronts to make sure it stays success as well um perfect
thanks a lot hasi i i'm probably going to up there, but please don't see this as a final
AMA or the end point. Like I've said before, we wanted to get to a place where we can have these
conversations and this dialogue in a mature way. It doesn't mean we all agree. It doesn't mean
we'll all ever agree. It doesn't mean there all agree. It doesn't mean we'll all ever agree.
It doesn't mean there's no emotion involved,
but having these kind of spaces is super important.
To wrap up, thanks first and foremost for everyone involved.
We've had Node Ops, Builders, community members,
a fair representation from a few members
of different areas of the team.
We will be following up with audio and a write-up of the AMA as well.
And please be sure to participate in the TG Discord other channels
with the link tree in our bio.
We've taken on any feedback because I've been making notes as time's gone on.
And hashtag Yousef for CEO. Let's get it trending. we've taken on any feedback because i've been making notes as time's gone on and um hashtag
you step for ceo let's get it trending uh the last part is a joke but no one can respond so i
just have to awkwardly sit here uh but thanks a lot for your time and um we're in tg so if there
are any other follow-ups or questions or comments then let us know and have an amazing wednesday Thank you.
