AMA with Authrail
On the 1st of March, 2022 at 13:00 UTC, Decentralized Club had the honor of hosting Metjaz Sobocan from Authtrial for an Ask-Me-Anything session on their Telegram page with a community of over 70,000 people. It was hosted by DC Admin, Alvíss Andorr .
The session was divided into three segments. Introductions were made in Segment 1, questions from the Twitter community were answered in Segment 2 and live questions from the community members in attendance were answered in Segment 3.
If you missed this event and would like to know what Authtrail is all about, you can find a recap of the interview here. Information here should be researched and should not be taken as investment or financial advice. Also note that slight edits have been made for clarity, and links in this recap lead to images, documents, or other media.
Segment 1 - Introduction
Hello, สวัสดี, 大家好, नमस्ते, Selamat!
My name is Alvìss and I am delighted to be hosting the AMA with Authtrail.
Today we have a special guest from the Authtrail Team.
Hi everyone! :) Thanks for having me
It’s a pleasure to have you here.
Welcome to Decentralized Club - our community
How’s your day going?
Thank you! All good! Fingers are warmed up and the beer is cold :)
Good to see that you're pumped!
Let's get the session underway.
let's go ;)
Can you briefly tell what Authtrail is about? We would like to know more about it and the inspiration that birthed the project.
happy to do so!
Basically, Authtrail is a platform that connects the value of enterprise data to the power of blockchain technology. It works as a simple add-on to all the imaginable legacy systems that organizations use. The onboarding into blockchain is very seamless and easy - it doesn't require the customer to have good blockchain knowledge and they don't need additional staffing.
It's an additional security layer, a so-called trust layer, on top of the data without displacing any incumbent products inside their organizations.
Keeping data’s integrity intact is crucial for making much more informed business decisions which leads to bigger growth and transparent and trustworthy partnerships.
The project started as a spin-off of Kalmia.
They are a software company that actually came across the need on the market that Authtrail is focusing on right now. The initial idea was sparked as a response to an RFP where they were looking for a solution that would implement Blockchain into the supply chain and we developed it from there. We all fell in love with the idea and here we are now, offering to bridge the gap to Web3 for the enterprises and bringing the growth to their doorsteps.
I was very happy when the team asked me to take over the role of the CEO at Authtrail to create the next big thing in crypto but to also show the old economy how blockchain could be used to their advantage. We are one of a few projects who actually have a product that can be used by enterprises of any scale without them having to understand the complexity behind DLT. They can simply hook on their legacy systems and are already a part of the new Internet :)
We have come a long way, yes :)
That's amazing to see!
What are the innovative solutions that distinguish Authtraill from other Blockchain-based projects and what competitive advantages do you have?
I think having competition is healthy, it shows that we are on the right path - we are not building something the market doesn’t really need. We've seen a lot of projects since 2017 from the ICO craze – where projects were utilizing blockchain to get more exposure but blockchain was not needed at all. The majority of the competition does similar things, but they are very vertical-specific whereas we fit into broader aspects. The difference is also that we are building on a public blockchain – from what we've seen so far, our competitors are using either proprietary or in-house-built blockchains and not leveraging the public blockchain at all. We want to make it as decentralized as possible and as fast as possible.
We are B2B oriented so we know that crypto and blockchain are still under very careful consideration when it comes to enterprises - they don’t want to get too much exposure to crypto or blockchain but they are slowly tapping into it. We want to showcase that blockchain is a great technology and that it can influence their business dealings for the better.
That's why we’ve done a “split-brain” approach
on one side we have the end customers (enterprise customers) who are using the platform and will most likely never get in touch with AUT token itself because they are using our so-called anchor credits. Those anchor credits are used on the platform to anchor the data to the blockchain. We have a built-in mechanism into the platform where those anchor credits can only be purchased with AUT tokens. And those tokens will then be used or will be bought from the market to fuel the anchor credits on the platform. That way the enterprises will not have to deal with the whole universe of DLT-related tasks and knowledge, but they will be able to leverage all the advantages blockchain has to offer.
All of this combined makes it an easy entry point for businesses who want to take the next step, but don't know how and where to start :)
Just a moment for the community to read through.
sorry, the words flow when you are excited :D
Reading through and I must say, Authtrail has really put in the work. Impressive.
I can relate 😃
Moving on now
Does Authtrail have any partnerships lined up?
But due to the nature of business, I am unable to disclose them right now as we have several NDAs signed
What I say, however, is that for building those partnerships, my experience from previous jobs in IT will come in handy
We are already in talk with several larger GSI (global system integrator), local SI, VARs (value-added resellers), distributors, who will be helping us in building the sales channel.
We have the skills when it comes to blockchain, but the channel partners are the ones talking directly to the customers, they already have an installed base, system engineers, and existing relationships
We are also tightly working together with other parachains in the Polkadot ecosystem apart from Moonbeam and will share the news very soon :)
How do we acquire your native project tokens and why is it important to hold them from an investment point of view?
The tokens can currently be acquired through our community round, which we will be launching soon. It is an invitation-only whitelisted round, which will have some price benefits before we have our TGE.
As for the token, I would refer to our blogpost about tokenomics, I believe it explains the whole structure nicely :)
Last question for this segment!
What are the 2021 highlights from Authtrail and should we look forward to this year?
For once, the TGE and Community round for sure, I suggest following our Social Media Handles to get the latest updates, but the Community round should commence in the upcoming weeks.
Apart from that, a lot of new partnerships are being formed as we speak which will put Authtrail into the top spot when it comes to bringing the Polkadot ecosystem to enterprises
Additionally, as we can build all of it by ourselves, we will be launching our so-called Launchub, a business accelerator, which will fund 3rd party developers to leverage our platform and build new applications on top of it
Amazing! Looking forward to these milestones
we are as well :D
Let's now take questions from our Twitter community.
Segment 2 - Twitter Questions
Due to their popularity, the BSC, ETH, Solana, and Polygon Networks are the most used networks that project devs use to deploy their project. Why did you choose Moonbeam among all of the available blockchains in the market? What makes Moonbeam compatible with your project?
Twitter Username @0jeanwayne
So the original offer was built on Ethereum and back in 2018. This was still feasible - I mean the gas prices were kind of low but it was the go-to network when it came to enterprise data. But with the growing demand and more and more adoption of Ethereum.. the example I’d like to say is that when a customer asked why we are going to the Moonbeam I said “Look, imagine there's an airdrop coming on Soccer Crypto Titties on Ethereum which is clogging the network - are you really willing to wait two days for a business-critical transaction to go through or pay 10x amount of fees or would you rather be on a secure highly secure network that is meant for enterprise business - like Polkadot - and to have the peace of mind to understand that your data is in a stored in a secured way?” So basically, when we started migrating our code from Ethereum to Moonbeam the transition was seamless. I think it just took us one hour to migrate the whole code to test it and we were up and running on Polkadot basically.
I want to emphasize as well that we are starting on Moonbeam and Polkadot - we want to stay blockchain agnostic. If there are companies who have different needs or approaches or have some partnerships whatsoever and want to go on to Solana, Avalanche, or whatsoever, we are open to connecting different blockchains in the backend as well. But given the fact that we started on Ethereum, the seamless migration was to Moonbeam. And at the moment, for us this is the most secured network there is - we're staying on Moonbeams and we won’t pivot for now.
Do the token holders have the right to participate in the governance of the project? On what kind of decisions can they vote on about the project?
Twitter Username: @SejanHosean
a straight and honest answer
not for now :)
it is just not on our priority list right now as the focus is on the enterprise adoption
but this is for sure not a final decision
Straight and honest ☺️
it wouldn't be fair to bullsh** and promise something to hype the project :)
The deal is real and the hype is bigger with the other functionalities :)
Moving on now.
Does Authtrail have any plan for launching staking programs? Will your project have Burn Token or Token Deflation per buy/sell in near future?
Twitter Username: @VINITSH50269612
it basically goes the same way as the previous question,
no staking/governance built-in for now
and the token burn mechanism is explained in the link I have shared in one of my previous answers, but happy to do so once again :)
Is your project a community only for English-speaking countries or for users not of other languages?
Twitter Username: @SejanHosean
not at all!
Our official Telegram channels are👇
However If English is not your first language and you prefer one of the unofficial channels, you are free to join. please note❗️, we are not monitoring those groups and anything that is discussed there is unofficial.
These are our unofficial channels👇
➡️Authtrail Turkish 🇹🇷
➡️Authtrail Russian 🇷🇺
➡️Authtrail Français 🇫🇷
➡️Authtrail NL|BE 🇳🇱🇧🇪
For the last question of this segment.
@authtrail platform offers blockchain which holds data and funds of crypto investors, can you explain how strong your blockchain security system is? Do you have a guarantee for your investors?
Twitter Username: @Yujiu212
The Authtrail platform deals only with data hashes and anchors and not the actual data, meaning that the data itself remains at its native location. Authtrail never stores data on private servers, which means no GDPR issues or risks of potential data breaches whatsoever.
in regards to the funds, the majority of funds are stored in a multisig cold storage and we only have funds for the upcoming 3months in our hot wallet for funding the development and operations
It's time for the most popular segment of the AMA.
In this 3rd segment, I will open the group for some seconds for the live community to shoot you some pressing questions.
Please pick five original questions to answer.
Try to ignore generic, vague, and copy-paste questions 😊
I will give my best :D
You have given very concise yet impressive answers! We are convinced beyond a doubt that Authtrail is a solid project that will be here for a long time.
We are working towards this! :)
Lovely to hear
What's your favorite sport?
Since I am 1.92cm tall or 6.3f I love Basketball and Volleyball :)
Haha. That's great
Dear community, please include the guest’s answer in your questions.
The group will be unmuted shortly
but to be honest, lately, I have been more watching NBA than playing any basketball 😅
That's fine really. ☺️
---Chat was then opened for the live community to send in their questions—
Segment 3 - Live Questions
Dear guest, as a measure to deter bots and reward hunters, the word 'volleyball and basketball' has been included in the questions so you can tell original questions apart!
Please prioritize such questions 🙂
What are your top 3 things for priorities in 2022? Could you share some plans for the upcoming year?
build a solid foundation for web3 enterprise data, build a strong ecosystem and bring as many enterprises to the blockchain as possible
I noticed that you are preparing for a community round that will go live in the coming weeks. Can you tell me more details about this? What are the requirements to participate in this community event?
All the details about the community round can be found on our website https://authtrail.com/community-round/
My question is about your long-term marketing plans. How, or through which big partnerships do you plan on utilizing to pass your product onto the normal - especially non-crypto people?
We have partnered up with Market Across, a leading PR agency that is helping us to bring this project to a worldwide recognition
Basketball and volleyball
I love the name of this Project "Authtrail" sounds cool. How did you come up with an interesting name like this and Please can you explain to us how Authtrail provides DI?
It is a combination of Authentic Trail - Authtrail, and if you like the name, you might like our logo inspiration as well. https://authtrail.com/blog/keeping-the-vision-refining-the-authtrail-brands-look-and-feel/
How will Authtrail help customers to understand this platform easily? Will there be support to assist users? And are there educational materials?
Together with our contributors, we are building educational content, to bring the topic of data integrity to a wider audience. And thanks to AMAs like this, it also gives us more insights on what the narrative should look like, to make it easier to understand.
Where can we briefly study your project?
Basketball and 🏐 volleyball
Our whitepaper is available on our website https://authtrail.com/wp-content/uploads/Authtrail-Whitepaper-v1.0-1.pdf
Basketball & volleyball
When would you be launching the "Authtrail LaunchHub" and how can one keep up to date with you guys??
We are in the final phase of launching the Launchub, but most likely it will happen after our community round.
Basketball and volleyball
What is the motive behind starting Authtrail on your own, what is your background experience in IT, and how long have you been into Crypto?
And then I want to know why you went from Ethereum to MoonBeam?
I have been in the crypto scene for the past 7 years, starting with the Ethereum ICO as I was introduced to Ethereum. This is when I first started looking into crypto in general and quickly saw that there is big potential in it. I have also been in IT for the past 20 years and am constantly looking for innovation in that space. That's why I was happy to take over the role of the CEO at Authtrail to create the next big thing in crypto but to also show the old economy how blockchain could be used to their advantage.
Aaaannddd it’s a wrap!
Such a concise yet detailed interview! Too impressive!
Any closing remarks for our community?
I would just like to take this opportunity to invite everyone to follow us on Twitter and Telegram, as we are currently running a Giveaway promotion :)
Thank you Sir for your time with us today!
Our warm regards to the rest of the awesome team at the Authtrail HQ working tirelessly to make this project a success!
Thank you for having me!
Until next time, do have a great day
You too :)
The AMA with Authtrail is now over