CryptoFun X Findora AMA Recap

19 Dec 2020 14:46
CryptoFun X Findora AMA Recap

Hello, We had an AMA with binance on January 20, 2000. For those of you who are late to follow or watch, you can read the following AMA recap.

Guest 1. Matt Arney (Head of Marketing)
2. Ken Berniklau (Director of Product Management)
Moderator Crypptofun Team
Online participant 3276
Live Question 368

Segments:

  1. Introduction
  2. Twitter Questions
  3. Live Questions


INTRODUCTION


CRYPTOFUN:

Welcome to the CryptoFun Community, thank you for taking the time from your busy life to attend the AMA today!
We are glad to meet here
We are really appreciate your coming to AMA today to tell CryptoFun Community about FINDORA

Matt Arney:

Thank you and hello CryptoFun - so great to be here!!
I also wish to intro my colleague Ken Berniklau - program manager at Findora

Ken Berniklau:

Hello - my name is Ken Berniklau. I'm Director of Product Management at Findora. Some background about me, before joining Findora, I co-founded an enterprise wireless company, launched services organizations within fortune 1000 companies, and embraced transformative technology. My expertise is in launching early-stage start-ups, product development, leadership, and managing in a growth environment. In my free time, I enjoy motorcycles, golf and off-roading.

Matt Arney:

Gee thanks - my name is Matt Arney. I am an active cryptography theory aficionado and outspoken proponent for transforming traditional technology through blockchains. Before joining Findora as their Head of Growth, I co-founded and successfully exited from three international startups in the enterprise language & technology space. My expertise is in corporate development, partnerships and revenue generation. In my free time, I enjoy hiking, mountain biking and playing tennis.

CRYPTOFUN:

Allright, We will go to first segment i will give a little question about FINDORA

CRYPTOFUN:

Q1. Starting out, can you please provide us with a simple description of FINDORA ? @mattarney @ziggyb7

Matt Arney:

Sure. Very simply, Coindesk has recently described us in the media as a decentralized finance (DeFi) public blockchain project.
To go a bit deeper, Findora is a globally trusted financial infrastructure owned and democratically secured by a decentralized network of worldwide organizations and economically incentivized parties. Findora was created to enable the creation of financial services that are transparently operated while preserving user and institutional privacy.

CRYPTOFUN:

Q2. Could you please give a brief intro of FINDORA salient features? How FINDORA is better than other platforms?

Matt Arney:

Privacy-preserving Transparency… The Findora blockchain doesn’t make trade-offs between confidentiality and auditability. Users can choose to selectively reveal only what they want others to know.
Significant Innovations…The Findora blockchain incorporates some of the latest groundbreaking innovations in cryptography and distributed systems. The renowned Diffie-Hellman Key Exchange sets the foundation for modern cryptography and blockchain. Its recent paper on Supersonic described the most efficient transparent zk-SNARKs to date (btw - Turing award winner Dr. Diffie is one of our Senior Advisors)
We have vibrant communities and partnerships - Findora was built to solve real world problems. We have attracted thousands of users and developers to participate in our testnet, resulting in a wide range of partners building business solutions across industries as well as global supporters’ community.
You can also build private Defi apps on Findora - The Findora public blockchain can host confidential and anonymous assets and smart contracts, allowing for privacy-preserving DeFi applications and more with rock solid security.

CRYPTOFUN:

Q3. What is the functionality of the FRA token of FINDORA? How much supply is available and where will be allocated?

Matt Arney:

This is a timely question. Just Tuesday we announced our pre-registration phase for our public token sale and you can find more info at info.findora.org We plan to open the token sale on Dec 28th and it will only run until Jan 11th. FRA is the native token of the Findora platform and is required for access to its core features and functionalities, including staking, governance, payment for transactions, privacy-enhancing features & access to advanced financial application building tools and other services. I believe info regarding supply and allocation can be found on our lawyer approved website here: info.findora.org

Matt Arney:

Just Tuesday we announced our pre-registration phase for public sale and you can find more info at info.findora.org We plan to open the token sale on Dec 28th and it will only run until Jan 11th. FRA is the native token of the Findora platform and is required for access to its core features and functionalities, including staking, governance, payment for transactions, privacy-enhancing features & access to advanced financial application building tools and other services. I believe info regarding supply and allocation can be found on our lawyer approved website here: info.findora.org

CRYPTOFUN:

Q4. How does FINDORA maintain the security and privacy of user data? how strong and trusted of FINDORA?

Matt Arney:

First, Findora is decentralized in the sense that no single party can manipulate and censor the network transactions. Second, unlike the most transparent blockchains on today’s market such as Bitcoin and Ethereum, there are no transaction data at all on Findora blockchain - sound strange? Please let me explain: Findora is a zero knowledge blockchain. The Findora blockchain nodes process and verify the zero knowledge proofs of the actual transactions. These proofs are secretive, so that no nodes and 3rd parties can read into the content. Because no actual transaction data is on the chain, a users’ data privacy is fully protected. If you transfer 100 dollars on Findora to your friend via confidential transfer, no one can see this transaction through a block explorer. So to answer the question directly, not just Findora, literally no one can monitor a confidential transaction on Findora without a users’ permission.

CRYPTOFUN:

Q5. Could you tell us about FINDORA roadmap for now? How far has this project been developed? And what are target FINDORA for next year?

Matt Arney:

We invented a very unique DAO, DeFi fund management system that support privacy preserving asset operations with voting/on-chain governance. We believe such blockchain based organizations will change the world
We are responsible for discovering one of the most efficient trustless Zero Knowledge Proof systems
We completed one of the world's most comprehensive cryptography libraries - ZEI
as for 2021 and the future lets look at a visual
Testnet with confidential multi-asset operations and anonymous transfers
Address Identity layer implementation

Phase I asset policy language and restrained virtual machine; Planning for end of this year/next year! - Launching mainnet!
Also in 2021, we will focus on the phase II mainnet (RSA accumulator based storage optimization) and the DeFi infrastructure. We will deploy ZK Rollup, Accumulator based storage, confidential liquidity bridging and Dark Pool Dex. Due to the significant improvement and reorg of our research, we will be able to pool more resources to optimize ZKPs for different use cases, hardware acceleration and MPC for blockchain use cases.

CRYPTOFUN:

Thanks @mattarney for answering our introduction questions first segment
Let's move to second segment
And In this second segment we will send you some pre-selected questions from Twitter, I hope you're ready for second segment.


SESSION 2: QUESTION FROM TWITTER


CRYPTOFUN:

Q1. From: @StradicC14

I understand that the "ZkLDB" Findora database is mandated to carry out ongoing tests and reviews for privacy protection, but how often are they done? And in case an anomaly is found, how will it be resolved?

Matt Arney:

Does everyone know what ZkLDB means? It's zero knowledge ledger database.
ZkLDB is one of Findora’s enterprise friendly products co-developed with Tencent Group, one of the world’s largest Internet companies. This is a Transaction-As-A-Service cloud and all types of enterprises can outsource their transactions to ZkLDB without worrying about cloud-based issues such as data leakage. The ZkLDB is cryptographically connected with Findora’s public chain so that the interoperability is all about it. The revenue from this ZkLDB will also flow into the public chain constituents.

Q2. From: @ClownsKnight

Recently, Findora has announced that it's partnering with Injective Protocol. Can you provide us with more information about the partnership with Injective Protocol? why has Findora partnered with Injective Protocol? how does the Injective Protocol help the Findora ecosystem?

Matt Arney:

This is a very important partnership. Injective Protocol is using VDF (Verifiable Delay Function) to make a better decentralized derivatives market. Because we are experts at cryptography and blockchain we plan to collaborate to tap into a huge future market of on-chain derivatives with trillions of dollars of nominal assets. We are looking forward to working with decentralized financial application builders, stable coin issuers, and DAO creators, to name a few.

Q3. From: @Cleitoclo

On your website it says that the middle layer of Findora provides "financial passports". What are these financial passports, how do they work and what requirements must users meet to obtain a passport from these?

Matt Arney:

Our passports get information about a user, such as a user’s accreditation status, financial identity, credit rating, AML whitelisting, etc.; the technology utilizes selective disclosure credentials which allow users to selectively disclose pieces of information.
All the information in a user’s passport is verified and signed by at least one authority and can be brought in by confidential oracles from the out-of-the -blockchain world. These signed statements are presented in the form of cryptographic selective disclosure credentials. This means the information is authenticated in such a way that users can selectively reveal components of their identities without unnecessarily compromising the privacy of their entire personal financial profile. Furthermore, users can demonstrate complex statements about their authenticated profile (e.g. an income range, or threshold conjunction of several qualifications) without revealing any precise personal details at all.

Financial passports function much like the public key infrastructure of the Internet. There are a set of root authorities who are able to issue credentials to users and also endorse other sub-authorities with the privilege to issue credentials. Users can then store and manage their own credentials just as they would manage their cryptographic keys, and they may also elect to share or store their credentials with a third party custodian.

Q4. From: @Pamoeto

I presently use ZCOIN as my privacy blockchains. Why should I stop using ZCOIN and migrate to Findora? What are the advantages and salient features of Findor compared to other privacy currencies: Zcash, SERO? What is your strategy to attract user and make #Findora popular more?

Matt Arney:

Currently, we have zcash & monero as the main privacy coins. What we can issue using Findora is quite different: Tokens on Findora are auditable while the others are not (which has raised some concerns); Privacy preserving coins on Findora support smart contracts (while the others do not). This is significant: you can do whatever etheruem can do with these coins. In the future, every token should have privacy features. Even Vitalik from Ethereum has agreed.

Q5. From: @elvie3193

How do you see the future of the Findora ecology of the community economy? Is this a Findora model full of opportunities or what?

Matt Arney:

We view the community as the key to our success. We divide community into several sub segments: general crypto community; developer and researcher's community and enterprise users as a community. We believe these communities should be equally strong and benefit each other. On the general crypto community side, we have teams around the world to raise awareness of Findora brand and services, deploy all kinds of growth programs including incentivized participation, gamified application experiments, bounty program. We also have a privacy preserving stable coin project that is designed to help solve lack of banking access and cost efficient international remittance issues.
On the developer and researcher's community side, we have Advanced Findora Research Institute consisting of established researchers, economists and computer scientists. We have specialized funds to sponsor and support research projects for both private and public domain especially cryptography. We are willing to invest and build out a developer community, and an ecosystem fund is being set up to invest in Defi and other applications.

CRYPTOFUN:

All right. we can go to the last segment
In this last segment there is a direct question and answer session. You will choose the best 5 questions from the community to be the winner.


SESSION 3 LIVE QUESTION


@kintrzis:

Findora and Tecent Cloud partnered to offer World’s First Zero-Knowledge Ledger , could you please tell us how it is going and what major milestones have been achieved?

Matt Arney:

The relationship with Tencent is strategic. Together we are creating the world's first zero knowledge Transaction-As-A-Service clould, a direct answer to AWS' QLDB. The TAAS we work on is an auto-scale zero knowledge transaction platform deployed on Tencent's clould. Global small to medium businesses and fintechs can skip the costly infrastructure building and directly outsource their transactions to us with no worry of security. The amazing part to our Findora blockchain constituents is that the revenue generated from this service will flow back to our public blokchain as Findora TAAS and ZKLDB are structured as side-ledger/subnetwork of the Findora main chain!
Findora is responsible for R+D. And we expect to step into gaming and other industries through co-sale.

___________________________________

@beccaka:

Why did you name your project FINDORA from ? What does this mean ?

Matt Arney:

Actually we came up with Findora during an internal brainstorm meeting - many have said it means we are the "Pandora of the Finance" What do you think?

___________________________________

@zzcuna:

What is the ultimate vision that Findora is trying to achieve within the cryptocurrencies market? Obviously the whole space will experience huge growth in the upcoming years, but what role would you like Findora play in this?

Matt Arney:

From the Day One, Findora's founders, set a goal to leverage blockchain technology to revolutionize financial services. We firmly believe the financial infrastructure has a long overdue change. We envision an open, fair and transparent financial infrastructure that can serve billions of people, providing financial democracy. Today, we still feel the freshness of this goal. In the future, we would wish Findora's technology and its democratically run network will be the backbone of Web 3.0, providing the necessary transparency and protection to everyone. Our future plans rely on developments in the following areas: 1. General community’s awareness and adoption of Findora utility assets; 2. A happy and healthy developer’s community that is sustainable; 3. Major breakthrough in enterprise business applications and adoption. The real financial infrastructure will be boundless and seamlessly bridge the crypto and conventional world.

___________________________________

@bluefacebaby07:

when will mainnet / testnet be launched in findora? Could it provide a feature key feature that makes it different from others of Findora?

Matt Arney:

We have testnet and mainnet is launching very soon in 2021

___________________________________

@Spott:

Do Findora have plans for HACKATHON so as to check the security of your ecosytem periodically and also invite developers to build?

Matt Arney:

I love this idea - we are discussing this now and will send out details


More Details About Findora 

Website
Whitepaper
Twitter
Medium
Reddit
Instagram
Telegram Announcement

End
Oezank
Oezank is a Crypto enthsiast who has more than 3 years of experience observing Crypto projects and strongly believes in blockchain technology in Indonesia.
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