Data Matrix AMA Summary with Decentralized Club ✔️

Decentralized Club
7 min readMar 6, 2021

Dear, Community,

Welcome to the recap of our AMA with Data Matrix.
Our vibrant and enthusiastic community had a lot of questions to ask. To those who want to know quickly what Data Matrix is about, we are sure this recap is gonna help you. So without further ado,continue reading 😉

✔️Introduction with Data Matrix : 👉

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
First question of Introduction :

Q1. Can you provide a brief introduction of the founding team of Data Matrix?

Andrew Schnider (CEO DataMatrix):

I’m Andrew, DataMatrix CEO . I went to Melbourne University got IT degree.

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Wow, amazing👍

Andrew Schnider (CEO DataMatrix):
Then started working at tech companies. Got introduce to the crypto around 2014.

Our team has a total of 9 members including me. With 2 dedicated Dev’s 3 crypto influencers and others

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Very Impressive👍👍

Andrew Schnider (CEO DataMatrix):
Thanks ☺️

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Next question 🙋

Q2. Can you talk a bit about the entire Data Matrix ecosystem?

Andrew Schnider (CEO DataMatrix):
Well there’s a lot but let me try to give some highlights😜

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Sure 👍

Andrew Schnider (CEO DataMatrix):
While I was working, me and other founders notice the problem in the centralization of data layers inside of blockchain. Thus came the idea of DataMatrix.

Datamatrix is an open contract that facilitates the governance of data used in decentralized blockchain systems. It functions as an open standard for data handling and data management.

Datamatrix is comprised of Dataset, TCR and cross-chain linking.

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:

😎 It shows a lot of transparency

Andrew Schnider (CEO DataMatrix):
Well trying the best for the community

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Next question 🙋

Q3. How do you ensure the accuracy of data while closing the gap between dApps and real world data?

Andrew Schnider (CEO DataMatrix):
Using DataMatrix, Data providers do not need to change their core business model or backend infrastructure to become accessible to smart contracts because Datamatrix can handle API password keys in an external adapter.

So, they can pay for access to authenticated APIs in the fiat subscription models used today, and then simply place their API password key in the external adapter and immediately start delivering that data on-chain.

Data providers prefer this model, especially initially, as they can capture more revenue without expending any time, resources, or money on complex blockchain integrations.

This makes us intersting

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Thats a lot of work and by your words it is clear Data Matrix is well on track to achieve its goals.

Andrew Schnider (CEO DataMatrix):
Yes surely we are working hard to get it done asap

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Last question of the Introduction :

Q4. What is Data Matrix’s plans for this year ?

Andrew Schnider (CEO DataMatrix):
Currently we are focusing on developing the delivarable product to our Clients, Consumers and Community.

The roadmap already gives you a brief introduction of our upcoming goals.

Plz visit our website and roam around to get a great overview of the upcoming events😜

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Sorry for that

Andrew Schnider (CEO DataMatrix):

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Please share the link now🙏

Andrew Schnider (CEO DataMatrix):


| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Community need to check out👆

Thank you @andrewDMT, super insightful and very easy to understand.

Andrew Schnider (CEO DataMatrix):
Well the concept is great and the working is easy as a slice of butter.😋😋

🌍 Community ask question by Twitter 👨‍💻

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Twitter Question no 1.

From : @HendriA11938225

When will the Public Sale and Private Sale take place? What is the target DataMatrix wants to achieve with these sales?

Andrew Schnider (CEO DataMatrix):
Private Sale investors are our trusted partners and believers who would help DMT to list on CEXs and Marketing. Some of our investors are from traditional finance industry and getting licenses for crypto business, so we don’t want unnecessary exposure.

Public sale will be announced soon Mid of this month.

90% of the total raised funds will be used to provide liquidity on Uniswap, CEX exchanges, Datamatrix development, Marketing, Audit and for Staking. 10% will be kept as a reserve for a further expansion of DataMatrix

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Twitter Question no 2.

From : @Victoria20kBTC

Data protection is the foundation of Data Matrix, How can Data Matrix ensure the security of user identities? and Can Data Matrix explain in simple terms How does the Data Matrix Ecosystem work?

Andrew Schnider (CEO DataMatrix):
The term MATRIX came from that only as the algorithm used to store the data provided by users is only accessible to them and even DataMatrix wouldn’t have access to them.

We will be using the IP address and unique identifiers stored in your device’s cookies to help us authenticate your identity.

And for ecosytem working

The most effective way to improve data quality, and avoid the associated costs of bad data, is to institute better data management practices.

DataMatrix Data Governance Working Group will create policies based upon the program goals in the Governance Groups.

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Twitter Question no 3.

From : @Poyrazyesill

How important is the DataMatrixToken community in your vision? How can they help you widen your audience or participate in the development of the project?

Andrew Schnider (CEO DataMatrix):
Well DataMatrix is totally community driven project. The community plays key role in dataset creation and in the TCR section and in return the community members get rewarded for their valuable votes in the whole process. It is not possible to get a valuable and quality data without the community. The rewards the community gets is a self driven enthusiasm for widening of DataMatrix to more consumers.

That will be all for the above questions😅😅

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Cool 😎

Thanks for the quick and prompt answers!

🌍 Community ask question by Website 👨‍💻

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Website question no 1.
From : @meml97

From what I read DataMatrix is built on Ethereum, but we all know ETH has problems right now, especifically its high gas free prices. So, my question is, do you have plans to migrate to other blockchains later on and expore them or will you stay on ETH?

Andrew Schnider (CEO DataMatrix):
Ethereum being the backbone of so many projects. It’s best in my opinion and that’s why we choose it. The dev community is very strong, it has good leadership and once they figure out their layer 2 scaling solutions it will be unstoppable.So wewon’t be launching our own blockchain because we won’t need to.


We envision DataMatrix as a blockchain-agnostic protocol, with DataMatrix token available on every suppored blockchain, including cosmos network and EOS.

To enable that, DataMatrix token will support cross-chain linking between blockchains, albeit with decentalized data Oracle powered by DataMatrix itself.

With this enabled, we can effectively interconnect different blockchains and empower a wider range of decentalized applications.

| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Website question no 2.

Datasets inside Datamatrix are split into multiple Dataset Governance Groups. Can you tell us a little bit about Dataset Governance Groups?

Andrew Schnider (CEO DataMatrix):
Corporate Governance

Business information.
Patent and Trademark Information.
Legal Information.

IT Governance

Real-Time & Historical Cryptocurrency Market Feed.
Fundamental Exchange Rates for each Cryptocurrency Pair.
Implied Volatility Data.
Merger & Acquisition Data.
Core Financial Data.
Financial Entities Data.

Social Governance

Public Social Data.
Economic Data.
Trading Data.
Fund Data.

✍️ Telegram live Questions answered by Data Matrix ✔

Annabel Dickens:
why should every user do KYC? Can users still use the DataMatrix platform without doing KYC? No. KYC is not mandatory for using DataMatrix . Users can use our blockchain without KYC. KYCs might be required by the applications bonded with regulations.

Andrew Schnider (CEO DataMatrix):

Ok so there is no KYC in the dataMatrix sysytem. That’s what makes it fully decentalized.

Delores Smith:
Can you name some of DataMatrix ‘s key achievements and what milestones are you currently working on?

Andrew Schnider (CEO DataMatrix):
1) Concept finalization and technical documentation is complete

2) Front-end interfaces release in 2 months

3) Community is launched and growing

4) Audit is coming soon

5) Partnerships are ongoing

The whole DataMatrix ecosytem depends on DataMatrixToken. Each function requires you to have $DMT for it to function. Also the TCR function helps community people to earn just for a vote😜😜. So DMT will be a highly valueable asset in the coming future.🤫🤫🤫

Patsy Bednar:
Can you explain the Tokenomics of the DataMatrix , how it is Distributed ? How many tokens Will be minted and how many of those will be held by the team and for what purposes ? Also how experienced is the team behind the token?

Andrew Schnider (CEO DataMatrix):

Total Token Supply — 21,000,000

📌Private Sale — 5% (Reserved for Early Investors)

📌Public Sale — 20% of DMT (Reserved for ICO Sale)

🔐Staking Rewards — 25% of DMT (Staking APR of 24% year on year)

📌Marketing and influencers — 8% of DMT(To promote DMT for mass adoption)

📌Listings and Liquidity — 12% of DMT (To add liquidity on DEX and listings for CEX)

🔐Development — 10% of DMT (Funds to be locked and vested for 12 months and used for DMT Eco-system development)

🔐Team and advisors — 20% of DMT (Tokens will be locked and vested for a course of 50 months with 2% release per month)

🖋Name: DataMatrix

🖋Contract Address:

🖋Symbol: DMT

🖋Decimal: 18

, Where is listed your token ? Where can i buy ?

Andrew Schnider (CEO DataMatrix):
Well we are not listed anywhere.

But will start with Uniswap

And yes u can buy DMT soon after we start our public sale

✔️Thanks to all of our Community Fans✔️

Have a Great Day

Edited by : 🌿DK✍️



Decentralized Club

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