CryptoFun X SmartKey DeFi AMA Recap

10 Oct 2020 01:15
CryptoFun X SmartKey DeFi AMA Recap

Hello, We had an AMA with SmartKey DeFi on October 03, 2020. For those of you who are late to follow or watch, you can read the following AMA recap.

Guest SzymonFiedorowicz
Moderator Ahmad Rifai
Online participant 3745
Live Question 543


  1. Introduction
  2. Twitter Questions
  3. Live Questions

Session 1 - Introduction

cryptofun :

Q1. Could you please describe what is SmartKey in few simple sentences?

szymon :

SmartKey is a digital key stored and secured by blockchain technology. SmartKey is also a connection between physical world object and virtual world with thousands of Applications.
Using smart contracts rules you will be able to set up your own rules who how and wen be permitted or restricted gettin access to your car house office , parking place etc. that give us opportunity to build together Smart Cities ecosystem with marketplace rules setup in smart contracts. that give us opportunity to build together Smart Cities ecosystem with marketplace rules setup in smart contracts this give an opportunity for developers to build their own decentralized Apps. This is whole new market created by us. It's like public internet. Everyone can connect to the internet and place their their own website. In that case everyone will be able connect their own physical door and use it in secure and standardized way.

Cryptofun :

Impressive knowing it is very easy to understand, thank you

Cryptofun :

Q2. What is the name of the token that SmartKey has? How much supply is available? And where will the token be allocated?

szymon :

Token name is Skey. There is one billion tokens. In 3 phases we will sell 300 millions of tokens for early investors/future users. Rest will be allocated for partners and team.
About team tokens. Our tokens will be locked for us for 3 years. And we will unlock a part of this pool every quarter. You can read about this rules in our white paper at Website

Cryptofun :

Q3. What are the advantages of SKey tokens over other tokens? What benefits can be obtained by holding it?

szymon :

First. System already working
Important thing is that Skey will be used to activate hardware devices in blockchain network. And creating smart contracts by owners with accessing rules. That's mean if partners want to activate one million devices in SmartKey platform They must allocate almost 10 million tokens in smart contracts at today token price. Every partnership will decrees amount of circulating tokens. Our long term strategy is to connect millions of cars, houses, gates, Parking places, smart home devices. That's mean all today Skey holders will be able to sell them tokens that future users will need to activate platform features. That how all of us will be rewarded for supporting SmartKey in early stage. If you know Korean. You can see it. On our YouTube channel you have other movies.

radek :

Smartkey Youtube Channel

Cryptofun :

Interesting, hopefully many investors who join today with SmartKey and see all this

Cryptofun :

Q4. Now that the community has adapted to the DeFi project, what is SmartKey view on this, and how can SmartKey tackle this to stay ahead?

szymon :

Physical economy are also somehow decentralized and need a simple tool without paper contracts. That's why we are next generation Oracle between decentralized finance and physical economy. We are talking about modern Smart Cities and Sharing Economy. In this days this is not real sharing economy. Because in lots of cases we have only one company that serve us their services. Those car sharing company and maybe even Uber they are big companies. There is no way to connect my own transport Services. There is no way to build my own application and serv this data to my clients. Only blockchain and SmartKey could give us a chance to free sharing economy marketplace.. Cool, interesting to know more about SmartKey, you are very excited tonight sir. thank you

Cryptofun :

Cool, interesting to know more about SmartKey, you are very excited tonight sir. thank you

Cryptofun :

Q5. Finally, what are the major milestones SmartKey achieved so far & what are in future pipeline?

szymon :

The most important is that our technology was tested by big partners and they want to build their own products compatible with SmartKey. New partnerships are coming. That's the proof that SmartKey will be useful. In next weeks we will inform about new partnerships and usecases. Our goal next year is to launch mainnet and go to market with products compatible with SmartKey technology. In that case we can reach top 100 marketcap with 10% of Chainlink evaluation.

Cryptofun :

Alright thanks for your answers i hope SmartKey will be a great project in the futures


Cryptofun :

Okay, first segment is over I will continue to the second segment. In this second segment we will send some questions that have been previously selected from Twitter.

Q1. From Twitter: @Kanzonkfamz

All knows the DeFI project is gaining attention in Cryptocurencies world. How do you see DeFi potential for Smartkey now? What role do you think Smartkey will play in making DeFi better for global use? and attract more non-crypto investors to the DeFi world?

szymon :

We have already talked with many of partners about market needs. Defi could be used as payment for accessing to the physical goods or services. Also using defi rules users can make a deposits or even rent or lease physical goods. I'm also can imagine that defi deposits can be somehow using to financing for example a car. This car will be share between users and smart contracts will spread incomes between those depositors automatically. I'm Sure that community and developers will find even better ideas. SmartKey will give them a tool to make it easy. In that way we are also making partnerships with DeFi projects. SmrtKey Oracle will give opportunity to use value collected in Crypto with real business use-cases. This is even bigger than Crypto alone.

Cryptofun :

Thank you for the very detailed explanation and easy to understand non crypto. nice to know 😊👍

Q2. From Twitter : @mylhe

In your website,Smartkey is compared with Chainlink and I see that the main edge of Smartkey is the level 2 services. So can you elaborate more about the features of Level 2 service of Smartkey? Why do you choose to compared to Chainlink?

szymon :

Everyone knows that Crypto space need to be adopted in masses. Chainlink is a well known example about Oracle role to connect information to the smart contracts. That's give additional value. It easiest to tell people who we are when we use an example. We are next generation Oracle because we are connecting real devices into smart contracts directly. We called this technology Blockchain of Things. That's give us opportunity to build smart contracts with two way communication. When smart contract will execute, door in real live could be opened. There is also second reason to compare with Chainlink. Chainlink have billion of dollars evaluation with no real physical economy cases. Now it's easy to understand how much space to grow evaluation of SmarKey is. You can decide yourself to supporting our project?

Cryptofun :

Glad to hear. for investors and the community I hope you understand all this explanation and join SmartKey, Thank you

Q3. From Twitter : @Witch_doubt

What security features will be implemented in SmartKey to prevent hacking due to errors in smart contracts. Are they audited frequently to identify vulnerabilities?

szymon :

In that stage we are strongly cooperate with device producers. Gsm providers and blockchain community. We have developed kind of two factor authorization to execute smart contracts. Such of big companies like KIA or Teltonika. Must be sure that everything is secured. They have theirs own security rules. In next year we will publish our Code on Github after first implementation on the market. Till that time this is our know how and main advantage against future competitors.

Cryptofun : Q4. From Twitter : @Ontortk

Yeild farming is a new trending so do you have any plan to yeild farming system development?

szymon :

Good question. We are seriously considering to implement this feature to bring more value for Skey holders. We can't told you everything wright now but you will be seriously suppressed.

Cryptofun :

And last question segment 2

Q5. From Twitter : @TonyMon253

The Smartkey token is so close to be able to obtain by Uniswap, so After that have you plans to create a incentive program to increase the Liquidity of the token and, by consequence gain more market value?

szymen :

We are preparing main marketing activities till that time. We will also reviled some big news about partnership and real use-cases that is now testing in real world. Everyone one will understand how big revolution it will be.


Q1 from @kiznyd :

I think you guys are doing very well! I just have a question related to the financial situation: Considering the bear market that has now lasted for some time, and might continue to do so for even longer; how is the Smartkey doing in terms of funding to be able to keep up the development of the product and introduce new partnerships for years to come?

Szymon Fiedorowicz :

We want to show our value implementing our technology in real business
We don't won't to speculate about token value on bear market.
We have opportunity to make a real business that's why we are not afraid market.

Q2 from @gaito :

What is your,SKEY opinion on adoption ? Can we see token burns or buy backs in future?

Szymon Fiedorowicz:

We don't want to burn any tokens. This tokens will be used for making more partnerships. Personally I prefer to make a deal with new device producers and allocate tokens to activate SmartKey features for their customers

Q3 from @Alexhuk1 :

I read that SmartKey enables integration at two levels of advancement. What is the main function of each level?

Radek Krzycki:

Hello, I'm already translating.
Level 1 is passive integration, you collect information or combine it as a whole, display the data connected from the traditional database and add it to the Smart Contract.
This level of ChainLink.
Level 2 is value contagion - activation of external sensors + payment, clearing and deposit systems.
When you watch the animation, you will learn the value more easily. The keys are the result of the equation.

Q4 from @rioliandaro :

You integrate your project with a Mercedes vehicle. It sounds good. Have you received approval from the Mercedes internal homologation team? will it be installed in the factory or on the market after following the bodybuilder's instructions? Could you tell us more about this part of the project?
@SzymonFiedorowicz @RadekBCC

Szymon Fiedorowicz:

Our solution could be integrated with Internet of Things devices already installed in cars. But also. You can buy device alone and install it to any car you want. That's why we are cooperating with for example Teltonika. This is top 3 in the world car device producer.

Q5 from @Rivaills14 :

Can you share details about Unique use cases of Smartkey , not Defi and decentralization but something unique where only Smartkey fits no other blockchains?

Szymon Fiedorowicz:

I can't say in details but I can say that we will inform about case where SmartKey will save human lives. And it's not case with cars.

Q6 from @Agz18 :

Who is Chainlink for SmartKey? Your competitors or your milestone to passed?????

Radek Krzycki:

Hello. Sorry but there are so many questions we have trouble answering quickly.
ChainLink has set the trend among investors ... Now the value is not only the empty token but giving it real functions. Our Smartkey closes contracts, but also is the currency you pay for operations. The SmartKey must be attached to a device or sense device to be identified on the network ... this gives value to the unit.
And the growth strategy is to show ChainLink investors that there is an investment alternative. ChainLink may grow + 100% to 7 billion but not more.
SmartKey has the potential for large growth because the valuation is low.

Q7 from @DdMHNDra :

Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is a SmartKey like this? If not can u tell us, What makes SmartKey different from other projects?

Szymon Fiedorowicz:

Personally I have over 20 years experience to build real products with wireless communication. We have other companies like. where we build such of solution for big corporate clients. We are not young startup. Our experience and knowledge is beyond many of project. We have this knowledge.

Q8 from @kartika84 :

What is $Skey plan to gain adoption fast enough that the market will not be saturated with other similar project by now and what advantage could you offer? @SzymonFiedorowicz

Szymon Fiedorowicz:

70% of our budget will be spent to make partnership and building trust on the market. We know that is long road. But nobody do it. We will try hard.

Q9 from @alamin1999 :

@SzymonFiedorowicz In 2020 Defi is a hot topic, Lot's of defi project have in crypto space so why i select Smartkey Defi? What's spacial have in Smartkey Defi? What's the facilities have in smartkey for investors?

Szymon Fiedorowicz:

We are not compete with DeFi. SmartKey is a oracle. Cooperation with SmartKey will bring additional value and use cases for every DeFi project on the market.

Cryptofun :

Alright, you are on fire. So i think most of the important questions have been already answered.
Lets end it it here @SzymonFiedorowicz @RadekBCC
Thank you for spending your time with us today, it is really a fun session. @SzymonFiedorowicz @RadekBCC


Website : Smartkey Platform
Telegram Group : Group Smartkey
Telegram Channel : Smartkey News
Twitter : Twitter Smartkey

Zaenal Arifin
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