gotEM AMA Summary with Decentralized Club ✔️
Dear, Community,
Welcome to the recap of our AMA with gotEM.
Our vibrant and enthusiastic community had a lot of questions to ask. To those who want to know quickly what gotEM is about, we are sure this recap is gonna help you. So without further ado, continue reading 😉
✔️Introduction with gotEM :👉
BILLY:
Q1. Can you guys please introduce yourself and also tell us a bit about gotEM?
Tawei Chang:
So before gotEM, I founded a marketplace called MeetMySpy, basically a traditional marketplace for people to hire detectives, private security, even psychics. Eventually the marketplace focused specifically on investigations. GotEM is a rebrand of this original platform and looks to address many of the issues that currently exist in the private investigations industry by utilizing blockchain and smart contract technology. I studied Economics at San Francisco State University. Have a very multi-cultured background and lived in several countries as a kid. Taiwan, China, South Korea, Japan, later the SF Bay Area in California and now I am back in Taiwan. I have a strong background in tech and began as an entrepreneur in highschool.
BILLY:
You travelled places man. That I must say. Hehe
Tawei Chang:
Yes my parents were in a missionary when I was a kid. I was a Missionary Kid.
Karma GotEM:
I’m an entrepreneur.
Tawei and I met in 2018 at Startup Thailand 🇹🇭where MeetMySpy was showcasing with a booth at Thailand Startup Tech Convention. So we got chatting and that’s where probably the idea of Meetmyspy to GotEM started.
BILLY:
Ahh the start of a cool partnership
Tawei Chang:
Yes, Karma was intrigued by the idea but felt that we weren’t thinking big enough. So we took a few months to get a more holistic view on the industry and how we can really make a difference rather than create a platform for people to detectives for infidelity and petty curiousity, which is what a lot of the cases we were getting on MeetMySpy.
BILLY:
Q2. What are some of the key features of gotEM?
Tawei Chang:
GotEM looks to make it extremely easy and fluid to source help from either an investigator or individual (we call them sources on the platform) while also minimizing the risk associated with hiring these people. We eliminate the risk by adoption BC and SC tech.
Blockchain and Smart Contract tech.
Karma GotEM:
Good features is the ability to CROWDFUND your missions/investigations.
Another feature is that we allow voting for all people that fund mission
Tawei Chang:
What I found to be the biggest issue was people lacking funds for their investigation. Which is why we are implemented Crowdfunding for investigations. It also works well because the token can also act as a governance tool allowing people who contribute to an investigation to vote on the evidence and milestones achieved by the sources.
BILLY:
So using crowdfunding one can hire detectives even though not having enough funds?
Tawei Chang:
Yes, you open a crowdfund and get people to participate in your mission.
A lot of people dont have enough funds to hire a detective to successfully close our their case.
A lot of this is due to the elitism in this industry.
in the US the average hourly rate for PI is $75 USD
BILLY:
That’s really great.. People helping people via your platform
Tawei Chang:
Most have a 20 hour minimum and require a deposit
Yes, it solves the funding issue also issues related to trust
trustless!
BILLY:
Yay!
Q3. Can you elaborate a bit on the solutions or enhancements that gotEM has brought to the table ?
Tawei Chang:
Hooray
Traditional method of hiring a detective, or just anyone to get information is a huge risk. When you have your funds sitting in a smart contract, you can rest assured knowing some third party or even a centralized gotem team wont be able to manage or determine what happens to your funds in escrow.
We do not allow more than 20% of an investigations total balance to go towards a deposit.
When a mission is concluded, users can leave a rating, which would be binded on our native token, and published to a public blockchain, which cannot be altered.
Our ratings will all be going on a blockchain and would require a smart contract to deploy, so it would be difficult to game, such as what you see on google maps
BILLY:
One question. In case of poor investigation is there a penalty?
Tawei Chang:
Yes, the user can vote “NO” and a third party random Detective with a positive rating partakes in reviewing the evidence also voting for a “NO” would result in the funds being reversed. Also the penalty being that their rating would be permanent.
This is the basic 3-party voting.
For crowdfunded cases, only the users that funded the case can vote (delegative)
BILLY:
Okay, 👌👌
Q4. Finally, what does gotEM plans to achieve by the end of this year?
Tawei Chang:
We hope to raise enough funds from our presale, crowdsale, list GTX on Uniswap (lock in liquidity from our presales, crowdsales) and then Probit Exchange with listing to Probit and a couple other exchanges.
GotEM has so far been privately funded by me and also dozens of friends and associates of mine. We need more funding to gain market share and really reach out to everyone in the world about our platform.
Our dynamic platform is live right now, but we are still finalizing the payments, which is currently using Coingate and also Stripes credit card API, though we hope to replace Stripe with Simplex before the year ends.
Why simplex? No more fraudulent chargebacks from customers
BILLY:
👍👍👍
Awesome
🐧Community ask Questions by Twitter ✔️
BILLY:
Now let us move to the next phase of our AMA which is Twitter round
BILLY:
Twitter Question no 1 (Etereo)
Username : @Deathmente
I think a lot of people here are pretty interested in the $GTX token, both the utility and structure… How does $GTX work as a utility token for the network and how does it benefit both the network and holders?
Tawei Chang:
Awesome. The token has multiple functions. Its main utility is to open a smart contract between the user and the sources they choose to hire. Funds whether fiat or crypto would be converted to our native erc20 gtx token, held in escrow, and users would vote to approve or disapprove evidence within the milestones. There is a basic three party voting system if cases are privately funded. For cases that are crowdfunded, they were require governance from those that contributed to the investigation. We would eventually implement node staking onto the platform so to keep certain features decentralized, so that SIG’s or government cannot tamper with the platform. As more funds flow through the platform, so will funds going towards our native token, which would intrinsically have an effect on the growth of the marketcap and also its value.
BILLY:
Twitter Question no 2 (Bismillah Moon)
Username : @untillthemoon
Solving Crime, terrorism, fraud, and anarchy issues are the duty of police, army, and state government. What is the role of Gotem on that mentioned issues? Is Gotem have a function like mass media?
Tawei Chang:
Because the world we live in has become increasingly decentralized, it is difficult for governments to source for digital related crimes and terrorism. Some governments have no interest to solve certain types of crimes related to digital fraud, and some countries have deep seeded corruption. The platform is dynamic in that users or government factions to utilize the platform to source for help on a global scale. They can hire people securely to source for localized or confidential information. One of the issues with search engines is that the information you find on it can be manipulated. And people forgot that information has a source of origin from an actual person. The platform isn’t so much to take over the role of the government, but instead to provide people and governments a deep layer and ability to source quickly to aid in issues related to crime. Modern policing actually heavily relies on crowdsourcing, but this method is messy and it requires the use of different social media platforms to gather information. The platform can act as a source of mass media, because now you can crowdsource your information, your evidence all into one place.
BILLY:
Twitter Question no 3 (mohit)
Username : @mohit_10_
Can you brief about the Governance on your system please? You have different types of voting systems, such as Peer-to-Peer, Ethereum DLT in terms of providing different Democracy models, Delegative and Liquid. Why is both needed for governance,Are they complementary to eachother?
Tawei Chang:
Governance on our platform works for when someone opens a crowdfund for their investigations. People that contribute funds to an investigation or mission have complete voting rights, hence token governance and delegative voting. The token enables peer to peer interactions between you and your source because you are opening up a smart contract between you and the source over the Ethereum blockchain. Your funds sit in a crypto escrow, and voting determines whether or not a milestone was met or if evidence gathered is accepted or not. With governance managing every mission and investigation, it makes the the process extremely fluid, efficient as opposed to the traditional method of hiring someone over or original platform — where you upload funds with your credit card via stripe, going through the financial banking system. In the even that something goes wrong, a deposit was made or there is a dispute, it takes months for the 3rd party company and the bank to unlock funds or issue a refund.
Karma gotEM:
This also touches upon how can we make staking relevant. So node staking is a path forward. With the inequality we see staking can help build reserve funds that serve the people.
Probably like a fund that is governed by everyone that contributed to it.
BILLY:
Twitter Question no 4 (Lakshitha kaushalya)
Username : @Lakshithakaush7
What’s the main Business Model of #GOTEM platform and the biggest barrier for DeFi is that of interoperability, providing cross chain interactions and multiple blockchains, how does your Unique solution solve this?
My telegram:@Laka55
Tawei Chang:
Interoperability isn’t something that we look to fix with our business model, though Polkadot headed by Gavin Wood looks to solve the issues of interoperability. Solidity language and Ethereum was essentially invented by him so this is something we can look forward to. We do have plans to implement node staking as mentioned earlier, but some more interestingly a DeFi Reserve funds which allocates 5% annually to any global mission relation to investigations or humanitarianism and fully controlled by governance could change the investigations and humanitarian landscape for good. Imagine what can be done with a global reserve fund that is fully governed over a DAO, used to source for help from people anywhere in the world. The possibilities are endless with this and it would eliminate the need for a centralized government to help (in many cases they choose to not help).
BILLY:
Twitter Question no 5 (Princess K)
Username: @molestika
I find your model of work wonderful, but I am concerned that in empowering investigations into corruption, abuse of authority and human rights abuses, how do you plan to preserve freedom of expression and the integrity of all involved?
Tawei Chang:
The purpose of the platform is to counter the issues relating to corruption, abuse of authority and human rights abuses, not to empower the people committing these acts. The platform, first and foremost abide by all regulations / laws related to investigations and private security. Freedom is precisely what gotEM looks to address. We lack freedom due to information we receive being manipulated, social media, search engines, news media. The platform would allow people, journalists to get a better understanding of the facts by getting their information directly from a source in a decentralized ecosystem without traditional restrictions. Something I’ve always been very passionate about addressing is the issue of police brutality and corruption that exists in the US. Too many people that have been effected by police corruption lack resources, are silenced, murdered, or pressured into admitting to something they never did. With GotEM, people can unite to collectively open investigations into corruption and abuse of authority. The platform sheds light on the darkness that plagues our society.
✍️ Telegram live Questions answered by gotEM ✔️
Диего | Diego | ディエゴ | Satoshi Club:
Your system seems different than any other existing projects. Do you have any competitors? If yes, what are the competitive advantages or distinguishing features of your system? If no, is this an advantage or disadvantage?
Tawei Chang:
No competitors, We are first to market and the only existing platform that looks to address the severe issues within the investigations and private security industry. This is good because we have first market advantage, it sets us apart, makes us obvious to spot and the platform looks to address a real and evolving issue within our society. Bad because the idea is innovative, scary, and risky to traditional investors such as VCs.
Manugotsuka:
Gotem is have so many services to provide, so to handle all of this features, have you considered the developement and launch of an Mobile application?
Gotem is an NON-PROFIT organization, but from where obtain the funds to keep growing successfully everyday?
Tawei Chang:
gotEM is a for-profit business. And I’ve personally raised funds through my network of friends. Some have come in as angel investors, while some have supported us by buying our GTX tokens. Funding is important, and we look to raise funds with our presale, crowdsale, then list our token on DEXs / CEXs. As more traction is gained, more traditional sources of investors and people in my private network will get interested to invest funds to keep us moving forward to pay for advertising dollars, human resources. Yes, an app is on the way. We currently built out our platform using Laravel framework so pivoting into IOS / Android APP is quick.
Dimas | Ali🎑:
What is your plan for global expansion? At present, which market does Gotem focus on, or is it focused on building and growing to gain customers, users and partners?
Tawei Chang:
Our target markets for user base are: 1) USA 2) UK 3) UAE — As adoption picks up from here, naturally it would spread to nearby regions as trust in the platform picks up. We’ve tested the market previously with meetmyspy, so we have a strong understanding of where demand is needed, and which countries have strong crisis zones.
Sergio:
Vast majority of Crypto projects are built just for the sole purpose of amassing wealth for themselves. So, I want to know the value you aim to add to crypto industry that will bring greater abundance to the industry?
Tawei Chang:
The agenda for gotEM is very clear. We hope to bring transparency not only to the crypto industry, but also to the general population. Amassing great personal wealth is the least important target on our agenda. We just need enough funds to bring this platform to the world so that we can change the system for good.
artist skyler:
how do you attract investors to be interested in #GOTEM ? because some investors only focus on short-term prices rather than long term?
How can the Gotem Platform provide an opportunity to invest in a global support system for the application of blockchain technology in many areas at all levels of business?
Tawei Chang:
For people looking from a profit POV, its pretty obvious that if they take some risk and participate in our presale / crowdsale, our listing on DEX and CEX would results in a price variance where they subject to profit. Long term staking would yield profits, especially for node staking and Reserve fund. Our plans are to list our token to DEX and CEX before the year ends, so in the short term people are subject to profits, but long term, there is a lot to look forward to if you can grasp our vision and use a little bit of imagination.
Avangator:
You plan to adopt your services globally. How do you plan to find private investigators throughout the world and especially attract them to use Gotem’s platform?
Tawei Chang:
This is extremely easy. Many detectives are not able to find consistent work due to how inefficient Google is as a platform to source for information. Just go to google and type in a search for a local detective and you’ll find hundreds of thousands of pages of random detectives. Many of the PIs you find on the first few pages are scammers. Real detectives need our platform because it means they would finally have a means to provide a service to people actually looking to hire them. Detectives need a webpage, marketing dollars, sales team to even get business these days. 99% of them have no business expertise. Which is why hundreds of detectives from 60+ countries signed up to meetmyspy during 2017.
Copid:
Typically, investors buy tokens that are likely to increase in price in the future. I saw that, total supply of the token is huge.
So, do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?
Tawei Chang:
We have a very long term vision and strategy which looks to get NGOs such as the red cross to use our platform for their humanitarian mission. We have token burn programmed into our smart contract, so burning excess isnt an issue. We would be limiting available supply to 70 million to that we dont have similar issues that you see with XRP (where value barely grows).