Infinito x IOST AMA: “Perfect Blockchain experience and mass adoption” RECAP – Part 2

On August 8th, 2019, Infinito and IOST team hosted the first joint AMA on Youtube LIVE to celebrate our official partnership. During the 45 minutes of this AMA, Infinito’s Business Director, Mr. Fedor Bushlanov, Marketing Director, Ms. Ellena Ki and IOST’s Marketing Director, Mr. Mei took parts answering various questions from crypto community on the topic: “Perfect Blockchain experience and mass adoption

To see a text recap of the answers we addressed in the live AMA, check out part 1 of the recap. In this 2nd part of the recap, we will go through all the questions that were not covered during the 45-minute AMA. Please enjoy!

View the full AMA via Youtube here:

 

Questions That Were Not Covered During the AMA

Q1: What is the main reason for that Infinito will great success in the near future?

Fedor: We believe that Infinito will achieve great success because our focus is set on the right pain point of the whole blockchain industry: solving the user experience issue that’s stopping it from being widely adopted by everyone, without compromising on the technical prowess that blockchain is revered for. Infinito provides a robust ecosystem of products that allows users, developers, & businesses to utilize the powerful blockchain technology in any way they like in an easy & convenient manner through simple, intuitive UI/UX design. Our win-win ecosystem serves to connect people with great blockchain technologies and services, giving them compelling reasons to join the blockchain world thus developers to start/keep on creating apps.

Q2: Can you share with our viewers some exciting progress of your projects?

Ellena: As you know, we formally announced our INFT token recently, and we’re extremely happy to be reviewed as “having a stable outlook” with the rating “BB” from TokenInsight! We’re also launched round 1 of our Infinito Point Sale on 2nd August and have received support from so many Infinito Wallet fans, which we’re so thankful of.

Our team is currently working to have the first public release of InfinitoPAY. This is our universal payment platform for users & businesses to make & receive payments in both crypto-fiat which comes with advance payment features such as: subscriptions, escrow, shared payments, & more. Along with new support for BEP2 tokens, XLM, & TOMO, we are also finishing up the final version of Premium Hub to let users use their Points & tokens. You will be able to enjoy these new features very soon this month, so please stay tuned!

Mei: Recently we are launching a new project named as Emogi, which was initially incubated by IOST Foundation, and developed based on IOST Mainnet. Emogi is the token based on a short video application. As Emogi’s product has really excellent performance in Latin American countries, this can be seen as a massive adoption of blockchain technology. The launch of this project can greatly help IOST gaining more users and diversify IOST’s ecosystem. We do believe this project will make IOST have better performance later.
We are also releasing new project roadmap, which includes not only technical developments but also commercialization.

Q3: What are the benefits for users to own Infinito Points aside from premium features inside Premium Hub and airdrop reward?

Ellena: Infinito Point is designed to serve Infinito members and of course, your benefit does not stop at premium features and airdrop rewards. Points can be used throughout our whole Ecosystem to deduct payment fees and get discounts on any DApps and services by Infinito and partners.

Point owners can also take part in deciding Infinito’s roadmap by joining our voting programs for the next supported coins, DApps, or wallet features. We are very excited to be one of the first to have this community governance feature, making us a top wallet choice for users worldwide.

Q4: Will the demand for IOST Token increase in the future? What are the steps would you take to increase the demand? What makes IOST better in the future?

Mei: The demand will increase with the diversification of IOST’s ecosystem which includes DApps, Defi tools, DEX, etc. Simply say, when there are more users that use IOST’s products, there going to be more use of IOST tokens.

Q5: User can swap coin directly on Trust Wallet and Midas Wallet. What about Infinito Wallet? Will Infinito plan to enable swapping on your wallet once you support BEP2 token?

Fedor: Native instant exchange aka crypto swapping is one of the key functionalities that our team is targeting this year. We’re currently working with many famous exchange partners to implement this with a “best-rate” feature where users can choose from a range of exchange rates, provided in real-time by our service partners such as Changelly, Bancor, Totle, Kyber Network, etc. This allows for a truly personalized financial experience with crypto!

Q6: It seems that IOST is available on certain cross chains wallets currently and is allowed for users to vote/stake for rewards as mentioned in your POB consensus, is IOST planning to use these wallets such as Infinito wallet as part of the nodes for POB consensus at large?

Mei: Of course, we welcome all kinds of collaborations when it comes to staking economy. For having further development in staking economy, we need to lower barriers for users to get easier access to staking pools. And each staking pool has its own features and competitive advantages that users could benefit from.

Q7: What are the competitive points of IOST which can get more awareness from the community?

Mei: For users, DApps and staking pools can be the products that they can directly get access to. IOST is focusing on offering playable DApps, many of them are developed based famous video games. On the other hand, staking tools with high annual yield also helped us to get more users.

Q8: What policies do the team have to help investors trust and stick with the IOST project for a long time?

Mei: Recently we released new project roadmap, technical development and commercialization of blockchain technology are both considered. Our goals on project development are clear and the team is devoted to realizing all these goals. Delivering value and benefits to community users is important to us.

Q9: Can IOST create your own exchanger for their token be listed with minimum fees?

Mei: No, we are building a Mainnet ecosystem instead of developing other products.

Q10: I know the current crypto market is causing everyone to FUD, but I just wanted to say that you guys are doing a good job of keeping to your dev schedule. Would you be able to tell us what your plans are beyond the release of the new platform? What can we expect in the next 5 years?

Mei: It is hard to predict things that could happen in the next 5 years in blockchain as this technology is too new to be predicted. Every project is exploring, trying new business models. But one thing we are quite sure about is that, blockchain technology’s future is promising. For keeping the mainnet more dynamic, we need to keep a fast growth of users.

Q11: Will Infinito Wallet create its own hardware wallet and will there be any fee to use the Infinito Wallet in the future?

Ellena: Infinito Wallet is free for everyone to use and will stay a free wallet for crypto community worldwide. The only fee you will be paying is the blockchain transaction fee respective to each type of cryptocurrency involved.

Regarding hardware wallet feature, we are working with Sofitto Tech to bring the Sugi NFC card on Infinito Wallet. This is a PIN-protected crypto “payment card” that allows anyone to seamlessly use crypto in a manner similar to conventional bank cards. This is a very much anticipated feature by our user community and we hope to be able to announce it to you soon so please stay tuned!

Q12: Why most used or ranked DApps always about gambling, do blockchain technology code only limited for gambling? Do you consider to add other coins to Iostdex?

Mei: Most DApp users themselves are gambling game players. Comparing with other games, gambling games can get a considerable transaction volume. Of course blockchain technology can do far more things than it currently does. Gambling is only an adoption on a small scale in the domain of decentralized applications. Take IOST mainnet as an example, as the mainnet’s is of high scalability, the blockchain technology of IOST can be applied to many other scenarios like charity, finance, data etc.

Decentralized exchanges can be a very important part in IOST’s mainnet ecosystem. But IOST does not have any official IOST DEX. These decentralized exchanges were developed by community developers and third parties. The DEX can help to increase the liquidity of digital assets on IOST mainnet. In this way we can make IOST more beneficial to users. I saw some DApps already worked with IOSTWin on asset being listed on this DEX.

Apart from IOSTWin, we are also working with OnBlock and Dex.top on asset digitalization for these IOST DApps.

Q13: Can you briefly explain what are the top three milestones that your team aims to execute before the end of the year that will help Infinito succeed?

Fedor: This year is a big year for Infinito and we will be seeing great developments and updates but for sure our 3 most prioritized items are:
InfinitoPAY: Our universal payment platform to let users easily and safely make and receive payment for any DApps and services inside Infinito Ecosystem.

INFT token: Staking feature and Ecosystem rewards to let holders of INFT earn back massive rewards and enjoy endless benefits brought by our global partners.

Enhance user experience for Infinito Wallet and Infinito App Square to bring more crypto users to Infinito and let everyone enjoy useful blockchain innovations everyday.

Q14: How are the plans shaping up for marketing and building a strong, core community which is essential for any new project in the crypto industry?Can you talk a little light about the partnership with infinito and what advantages does this bring both of you ? thank you !

Mei: Building communities can be important for all projects. Good marketing, clear vision, frequent project updates, engagement etc all will help a project to build a good community.

As we would expand to more markets and reach more users, and Infinito is doing quite well in building communities and have many users in different regions, we would like to work with this team to get IOST project more exposures. We are a public chain project, and Infinito wallet will work with us on mainnet integration, DApps, staking etc. These are all important to us.

Q17: In your moon shoot plan for IOST, you did mention of DApp contract security construction, what is the current security vulnerabilities regarding DApps in crypto space currently, that IOST seeks to improve and make it better for IOST DApps. Also, how do you intend to solve that? 

Mei: We noticed that public chain can easily get attacked as they are not protected. Smart contracts are often attacked by hackers and caused loss of users. We attach importance on mainnet security.

Now we are working with security solution providers on ensuring the security of smart contracts. We see this can be an extra offer to our DApp partners, because we don’t want to see any accidental loss of our users.

The most important thing is, the DApp developers themselves need to make sure that every detail of their project is confirmed before launching the DApps.

Q16: What is Infinito plan to build a strong crypto community as this is an essential aspect for any new project?

Ellena: At Infinito, it is always our main goal to be the number one Ecosystem of product for crypto community worldwide. We understand one of the most important aspects of blockchain mass adoption is to be supported by a strong and loyal community. Therefore, it is our priority to designed community-driven programs and events to collect and understand their wants and needs and keep on improving and advanced our products. In the next quarter, users of our Ecosystem will be able to enjoy voting features on Infinito Wallet app and for the first time, community most favorite coins, DApps, and wallet features will be supported by Infinito team.

We also take part in hosting and participating in various global and local blockchain events and meetups with industry leaders and partners to meet and connect with the community in Japan, Dubai, Korea, Japan, Finland, Vietnam, Turkey, Uzbekistan, Hong Kong, Malaysia, and more. Please don’t forget to follow our latest news and join Infinito team in upcoming meetups and events.

Watch the full AMA now:

See Part 1 of the Recap

Together, Infinito team and our partner IOST, would like to sincerely thank everyone who has been supporting and submitting your questions for our AMA. Thank you so much for your support and we hope our answers were clear and helpful for you.

Please stay tuned for the next AMA: Infinito and our technology partner NEO, featuring Infinito Director, Mr. Jack Nguyen and NEO Founder, Mr. Da Hong Fei!
Join Infinito Telegram channels to receive notifications on Infinito news and upcoming events!
– Infinito Community: http://bit.ly/Infinito-Telegram-EN
– Infinito Announcements: http://bit.ly/inf_announcements
Follow Infinito Youtube channel to see our product tutorials, introductions, and join our AMA!

About IOST

IOST is an ultra-fast, decentralized blockchain network based on the next-generation consensus algorithm “Proof of Believability” (PoB). Led by a team of proven founders and backed by world-class investors, our mission is to be the underlying architecture for online services that meets the security and scalability needs of a decentralized economy.

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