AMA with KwikTrust
On the 17th of December, 2021 at 14:00 UTC, Decentralized Club had the honor of hosting Simon Read (CEO) Christina Ashley (CMO), and Yasir Qayam (COO) from KwikTrust for an Ask-Me-Anything session on their Telegram page with a community of over 73,000 people. It was hosted by DC Admin, May.
The session was divided into four segments. Introductions were made in Segment 1, questions from the Twitter and website community were answered in Segment 2 and 3 respectively, and live questions from the community members in attendance were answered in Segment 4.
If you missed this event and would like to know what KwikTrust 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, 大家好, नमस्ते, Selamat!
My name is May and I'll be hosting the AMA with KwikTrust.
Today, we have with us three guests from the KwikTrust Team.
Hi, thanks for inviting us here today!
Hi all. How's it going!
You're welcome to the Decentralized Club. It's great to have all three of you here.
I'm so excited to be here!
I'm excited too!
How's your day going?
Happy to be here!
Not too bad! Thanks
so much better now that we are about to dive in and get to connect with your community!
Great. Really looking forward to today's AMA! 🙌
Let's get right into the session!
Before we do, could we have our lovely guests tell us a bit about themselves and their roles at KwikTrust?
Hi, I’m Simon Read and I’m the CEO of KwikTrust.
My background is tech. I’ve built and sold businesses previously.
I’m also a mentor and a judge to some tech accelerators, and I helped to set up the ‘We In Social Tech’ accelerator in London for female tech founders, which is sponsored by Deutsche Bank.
I first became interested in blockchain technologies and its potential when one of the companies I was mentoring on a tech accelerator decided to pivot to blockchain.
After that, I did the Oxford Blockchain Strategy Program, which is where many of the KwikTrust team first met and started working together.
Hi, I'm Christina Ashley, CMO of KwiktTrust.
My background is in tech, SaaS, and Blockchain.
My interest in blockchain peaked while I was working with bchannels and AWS partners. A colleague brought a project to me for marketing advice and I was hooked.
Simon and Yasir introduced me to KwikTrust and their enthusiasm and energy were too infectious. I couldn't say no 😉
Hi everyone! I am Yasir, I am the COO of KwikTrust. I have been in the blockchain space since 2017, researching and studying blockchains, analyzing various projects and its application. I met Simon in 2018 when I was at Oxford Blockchain Strategy Programme. And I knew this was a very special project which had wider application not just in the crypto community but also outside of the crypto ecosystem. KwikTrust is a bridge between the crypto community and the real-world applications of blockchain. And I am now looking at ways how KwikTrust can take over the Metaverses.
This is an amazing introduction, Mr. Read
Thank you! 🙏
I can imagine! This is impressive! Well-done!
Hi COO! You and Mr. Read have come a long way!
Looking forward to the KwikTrust takeover! 🥳
The KwikTrust project has a solid team! I believe the project is in good hands!
and Ms. Ashley has helped us immensely
along with the rest of the team
Thank you, Ms. Ashley 🥳
Let's take the first question now
Can you tell us about KwikTrust and the inspiration that got it started?
Yes, happy to!
KwikTrust is the next-generation e-validation platform and the home of the SuperNFT.
The platform provides more secure file validation and management, by enabling files to be uploaded and validated.
This can include contracts, intellectual property, and proof of ownership of digital and physical assets.
We can also lock together the asset and owner’s validated identity into an NFT to create a transferable asset.
This increases security over ‘old school’ NFTs.
We call this the SuperNFT.
We’ve also filed a patent application for the SuperNFT.
We’ve already built our MVP which has active users in the legal, financial, and accounting sectors.
The inspiration was experiencing difficulties in due diligence and file validation processes.
We designed the KwikTrust platform in conjunction with legal practice and also tested the concept with other businesses across finance and property.
As you can see, KwikTrust solves real-world business problems.
This is mind-blowing!
When did you start building this project?
We started building the MVP last year. It launched in June of this year and currently has around 350 registered users.
Such a short time! I'm impressed.
The project origin goes back further, but we wanted to be sure we had addressed the problems before we started building.
Thank you! 🙏
You have created a great project! Well-done.
What innovative solution is KwikTrust bringing to topple its competitors with similar offerings in the FinTech and NFT sector?
In terms of competition, our largest can be grouped into 3 areas: document validation and digital signatures (competing with Docusign), document storage and management (competing with Google Docs), and NFT minting (competing with Mintable).
A key differentiator lies within our use of blockchain. We don’t just provide a space for documents to be validated, it is so much more than that. We offer a method of validation that is highly secure, collaborative, and above all allows for an irrefutable record of activity.
Additionally, we have a multitude of incredible features that allow us to truly stand out in this space. Integrated KYC and AML components, contract lifecycle management (traffic light system for expiry dates, etc…), triple-lock security, API Integration.
Another strength is definitely our team. We have built an incredible group of individuals that are highly specialized in their area and have a passion for the project. We also regularly incorporate feedback from our community and users.
We also have an outstanding community that we are very grateful for and proud of!
And then of course there is the patent-pending SuperNFT. This truly sets us apart and cracks NFTs wide open.
These are very necessary features!
You found a void and you filled it! Nice!
What is a Super-NFT?
I'll take that one!
The NFT market is still in its relative infancy and we haven’t seen the true potential of NFTs yet, beyond the digital artworks that we are seeing today.
As a store of value, it has much more potential. In the future, we will see more assets - Digital and physical - represented as NFTs.
The Super-NFT locks together the owner’s validated identity with the asset.
This increases security over ‘old school’ NFTs.
We feel this will open up the NFT market to new asset classes.
In the future, we will see more assets - Digital and physical - represented as NFTs.
We’ve filed a patent application for the SuperNFT. This will enable us to provide the technology to other platforms and marketplaces.
It's an exciting time to be a part of the NFT market!
How does KwikTrust work and what types of file formats are compatible with KwikTrust?
KwikTrust provides data provenance, traceability, and transparency. Users can upload data on the KwikTrust platform and elect a party to verify/authenticate the data uploaded within the KwikTrust environment. This is then stored onto blockchain along with other information such as name and organization, etc. It is the digital signature of the parties involved!
Within the KwikTrust ecosystem, the users and the organizations are all verified and this is important to providing provenance, authentication of data in a trustless manner.
The verified ID is important to create a secure and authentic NFT which we call a SuperNFT as @Simon_Read explained above. We have patented the SuperNFT tech and it is blockchain agnostic. We are working with organizations that are interested in SuperNFT and the security it brings to the whole ecosystem.
Regarding file formats, pretty much all file formats work within the KwikTrust ecosystem - word, excel, PDF, ppt, video, audio, and picture – we have you covered.
Wow! I believe the community has so many questions about KwikTrust.
We'll take them after this question.
What major news should we look forward to from KwikTrust by the start of 2022?
I got this one 🙂
We have so many incredible things in the pipeline that we are really excited about. We are currently working on developing partnerships with a major broadcaster in the UK, a major sports organization in the US, and a few charities that are doing incredible work.
We also have our upcoming token launch set for early 2022- which is really exciting and we are gearing up a lot of press beforehand to keep building the KT hype.
We will also be launching our ambassador program in the new year and have a few upcoming community events to keep rewarding and building out our incredible supporters
This is great!
Could you please share your social media links with us?
We'd love to stay updated with KwikTrust
here you are
we would love to have you join us!
Let's now take some questions from our Twitter community.
Segment 2 - Twitter Questions
Instead of binding the ownership of NFTs to a private key, your project supports that a blockchain should tie these rights directly to someone’s identity. Is this feature available on @KwikTrustOfficial and can you also make the NFTs future-proof and ensure that control is never lost?
Twitter Username: @TadesCorner
I'll take that one!
We have designed the SuperNFT so it's future-proof.
By linking the owner's validation to the asset we create a more secure form of NFT.
This solves one of the key challenges in the NFT market today.
That is that people aren't comfortable trusting higher value assets to NFTs because, as we all know, NFTs in an anonymous wallet can be lost or stolen.
The SuperNFT solves this problem.
In the future, both digital and physical assets can be stored on SuperNFTs. The outlook in this market is very exciting!
We are also building functionality so SuperNFTs can be moved across to different chains.
We also have a custodian service for people who want to keep their SuperNFT super safe.
I would like to know if KwikTrust will hold community events such as raffles or Airdrops to motivate the community to actively participate in the project?
Twitter Username: @itzabhi69
I've got this one 🙂
We are always looking at new ways of including our community in the KT journey. We recently just concluded a hilarious meme competition and will be introducing a few more competitions in the new year.
We also will be picking back up with our weekly drop-ins and polls that allow the community to participate on multiple levels and get some great dialogue going.
We are incredibly fortunate to have a really supportive and positive community that is managed by some amazing mods. We would love for you all to join us 🙂
We will also be introducing our ambassador program which will give community members the chance to spread the KT love far and wide to keep building an engaging and informative space.
Looking forward to this especially!
We too-- it has been a long time in the making!
The utility of the token is one of the factors that evaluate the credibility and potential of the project. So what is the use and role of the $KTX token in the ecosystem? How can users earn more $KTX through the incentive program? Can you share its tokenomics?
Twitter Username: @Cryptocurran7
I shall take that one
We have built a strong utility within the KTX token and the platform. The use and role of KTX tokens within the ecosystem are:
1 . Mint SuperNFT
2 . The right to integrate KwikTrust functionality into token holders’ own platforms.
3 . The right to provide a service to others on the KwikTrust network.
4 . Discounted services for users. Services paid for in KTX receive a 15% discount.
5 . Staking.
6 . Purchase a voting identity to vote on Governance issues.
In addition to the above, as @christina_ashley mentioned we are working on an Ambassador program. Community is vital to KwikTrust, we run competitions, like last week we had meme competition, and we will be running more in the coming weeks!
We have a huge chunk of the tokens allocated to staking and loyalty programs! over 10%
The public sale was changed to Q1 2022. Do you have to have to be whitelisted to participate?
Twitter Username: @RonnieFranchise
The public sale of the KwikTrust KTX token will be on a CEX/DEX so anyone can participate.
For Strategic Round 2, in Q1 2022, we have a dashboard ready to be deployed so people can purchase tokens with USDT, USDC, or on Matic before the public sale.
Please look out for announcements and opportunities to get involved by joining our telegram channel.
How compatible and integratable is KwikTrust with and into corporate life? Do staff of a company have to undergo rigorous training to understand KwikTrust or is it plug and play?
Twitter Username: @theyasflower
I got this!
Blockchain tech is a new space and there are a lot of organizations that would like to leverage the beauty and functionalities of blockchain within their existing processes. We are cognizant of the fact that these organizations don’t necessarily want to replace their existing system and we have built Kwiktrust with that in mind. We are working with organizations and defining where and how KT could be incorporated with minimum disruption. We are also working with them and helping them understand the tech! So it's learning, taking them on this journey as well as the implementation of the tech within their ecosystem.
This is great!
It's now time to take questions from our live audience.
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 😊
Sure thing! I only take difficult questions!
We have a special task to tell them apart!
What's your favorite sport?
I like to watch F1 and enjoy playing cricket! Does this count as the first question?
No, the questions will come in now 🥳
Dear community, please include the guest's favorite sport in your questions! 🏏
---Chat was then opened for the live community to send in their questions---
Segment 3 - Live Questions
So many good questions!
As a measure to deter bots and reward hunters, @yasir_qayam's favorite sport (F1 & Cricket) has been included in the questions so you can tell original questions apart!
Please prioritize such questions 🙂
You can answer now 🥳🏏
Please tell us what is a SuperNFT and how it will solve the issues of ownership and provenance? F1 and Cricket 🏏
There is more information about the SuperNFT here.
As I dug more into the project, I discovered that the platform had a plethora of use cases, the majority of which tackle real-world problems. So, how can you get started with education, use cases, awareness, and developing a strong brand consistent with real-world trust and confidence? 🏏
We have started with the legal sector as KwikTrust solves a major problem in this sector. Document authenticity is key to the legal process. Sometimes different parties in a court case present different versions of the same document and the Courts have to spend time working out which one is the original. KwikTrust solves this problem.
Working with the legal sector is also a great way to increase adoption. Lawyers have to work collaboratively with their clients, with other law firms, and with the Courts.
From here we can step into the financial services sector, which also has great use cases.
As you say, education is key, and we will be publishing the results of real-world use cases as we go.
As regards the last question where Mr. Qayam talked about working with organizations, are there online videos or tutorials in that regard?
F1 and Cricket 🏏
We are working on short videos on the functionalities of the platform which we will be sharing. As we build more functionalities we will be putting out more material to make it easy for the users.
Keep them coming 🥳
Nowadays most users only care about immediate benefits rather than the real value of the project in the long term. How can our Project convince users to invest in your platform in the long term? thank u so much hope u answer.
F1 and Cricket
Great question. The KTX token is used to mint the SuperNFT. Users can also include SuperNFT functionality into their own platforms by purchasing and holding a minimum balance of KTX. This will create demand for the KTX in the future. For this reason, we encourage people to buy and hold KTX tokens for the long term.
Let's go, let's go! 🥳
I saw that #Kwiktrust is powered by IBM which is the largest technology corporation. What is the form of this empowerment? Is it only limited to funding support? or the entire technology system is handled by IBM? What benefit can be given to us by this great cooperation? 🏏
Our relationship with IBM is really important to us. We joined the IBM global startup program two years ago. This gives us access to great resources and expertise.
The KwikTrust platform is built on Hyperledger fabric. This is a true enterprise-level solution and KwikTrust can process over 11,000 transactions per second.
We also use IBM-managed servers which are super secure and managed for maximum uptime.
IBM also has a great global reach and in the future, we plan to work collaboratively to roll out the KwikTrust platform to new markets.
🏏KwikTrust is combining 3 different genres (document validation, document management, and NFT minting ) and there isn't a single project that has combined these three to date. Is it an advantage or a disadvantage?
The number of SaaS software an organization uses is over 80, we are trying to reduce this by combining different features along with onboarding customers in a seamless way. It is most defo a good thing and a unique selling point
Dear guests, can you please take some more? 🥳
Sure. Let's do it.
Glad to see your project and that's a good way to solve e-validation problems. My question is, what makes you different from other existing validators like AdobeSign, Hellosign? What makes you more valuable?
F1 & Cricket
This is a great question, we are blockchain-based and the signatures are tied to verified Identity, this is more secure than what we currently have in the market. Also, in the future, we will incorporate AI to check on digital signatures and users at the point of signature so the ID is always verified! We have seen a huge growth in working from home and remote working, so this will provide that to all parties involved.
Can projects from different countries use KwikTrust products and technology? And what is KwikTrust's global expansion strategy?🏏
Yes, absolutely. We have a global team situated across North America, Europe, and Asia.
We also have internal language skills and will be launching versions of the KwikTrust app in both Mandarin and Spanish.
We are starting in the legal sector, so we have a clear focus on our marketing strategy, and don't try to spread ourselves too thinly at the start. Later we will expand into the financial services sector as there are some great opportunities there!
Thanks so much for inviting us today, and a million thanks to the Decentralized Club community for joining us. We’ve had a blast!
Aaaaaaand it's a wrap! 🥳
Thank you so, so much for your time with us today!
Thanks for having us! :)
Looking forward to seeing your community join us and if you guys have more questions, feel free to ask on our official channel!
KwikTrust might just be the highlight of my 2021 crypto projects!
It was an amazing session!
A big thank you to our guests for the very detailed answers!
We’d love for some of you to join us on our journey! To keep up to date on our progress please do join us at the KwikTrust Official telegram channel at https://t.me/KwikTrustOfficial
Ms. Ashley, Mr. Read, and Mr. Qayam
Thank you to the rest of the team members at the KT HQ working to make this project happen!
We see you, and we appreciate you!
Everyone, please have a great day.
See you soon in our community for more good news!
The AMA with KwikTrust is now over.