Thanks a lot for actively participating in the SparkleCoin AMA held on 4th February 2021 at the Game of Bitcoins Channel. We really appreciate all your support. This post is a recap of the entire session held with SparkleCoin
We have with us Victor Wong
I have been an inventor, entrepreneur, and futurist since a child. I have founded a number of successful companies that have fundamentally changed the world. The first company was one of a handful that was authorized by Apple to make Mac OS compatible computer systems. We produced the most powerful Mac OS computer ever back in 1997 and was the first company to offer a “bare-bones” configuration whereby the end-user can add their own RAM, hard drives, and other components. On the software side, I also founded a company that used Web Objects from Apple to create one of the first web-enabled business management software applications. This software powered online commerce for companies like Lucent Technologies and even the LBJ Presidential Library and was marketed by Apple to its enterprise customers.
After this I founded Open Labs, which was the first company to create a complete all-in-one music production station powered by a computer and Windows, which was integrated into a musical keyboard. Our products included the NeKo, MiKo, and DBeat and was used by many artists and producers to compose and perform music including: Prince, Madonna, Faith Hill, KoRn, Maroon 5, Timbaland, Polow Da Don, Lil Jon, Michal Jackson, Linkin Park, Teddy Riley, and many others. One use example is all the keyboards on stage for the Super Bowl performance by Prince were from my company. We were instrumental in introducing the world to music production and performance using computers, which is now the norm.
Currently I run several technology-based companies including Music Computing, a maker of large format touch screens that are used by companies including Capital One and National Instruments, and government agencies like DARPA, and in boardrooms and trade shows worldwide. We were the first to produce multi-touch capabilities for Windows based computer systems as well as the first to produce any touch capable screens for Mac OS. Another company I currently run is Victor Racing, which makes Smart Active Aero products for cars. Our latest line of products won a Best New Product Award at the SEMA show in 2019 and is currently being used exclusively by the U.S. Touring Car Championship racing series.
In 2016, I also founded SparkleCOIN, a blockchain and cryptocurrency technology company, which is about to make some large announcements as it is being rebooted into the new Cryptocurrency Era. Our goal has always been to help cryptocurrencies...
Q1. What is the main reason you built Sparkle Coin which provides transact-ability between virtual assets & real-world economies? How easy is it if we use Sparkle Coin?
SparkleCOIN is unique because we are not just a blockchain technology company like many others. SPRK, the token, is only part of the solution that we have created. Around SPRK, we have developed sophisticated transactional software and platforms that are designed to seamlessly move values from the virtual world to the real world and back.
We were able to resolve the biggest issues with using cryptocurrencies for daily transactions that has to do with the volatile prices and the fact that cryptocurrencies are too slow because of the confirmation times. The SPRK Awards Platform is a turnkey end-to-end solution for the exchange of virtual assets and fiat currencies by means of a stable token valued at $1 and any number of cryptocurrencies with constantly changing values, governed by the SPRK token. The solution includes business methodologies, software technologies, integration, a blockchain, and direct real-time transactions with the world’s largest cryptocurrency exchanges. The SPRK Awards Platform can be utilized by any company that has a virtual economy such as gaming, company loyalty rewards, and even brick-and-mortar businesses.
The SPRK Awards Platform is very easy to use. Our first client partner in this is a music download company with normal revenues in excess of $140M annually ($36M last year during Covid-19). They will be using $SPRK in their transactions for their sweepstakes, which amounts to approximately 2/3rds of their annual revenue and will directly drive demand for $SPRK on the third-party cryptocurrency exchanges by placing buy orders for $SPRK. There will be a ramp-up to this amount as they will be transitioning a number of locations and customers over time...
Q2. You are currently trading on the Southwest Stock Exchange, will we see new exchanges in the near future? What are the future plans for the "DEX & CEX" exchange?
Yes, we are currently traded on an exchange called SouthXchange. We are about to announce we will be trading on one of the largest exchanges in the world. For those who knows what this means, there could be something there...
Yes, we are very excited. Many more people and much higher demand on the bigger exchange...
Q3. Can you tell us about your partnership with SKChainAdvisors? What do you expect from this partnership? and what are the long term benefits of my SPRK dollar?
SK Chain is one of the best marketing companies out there and they are helping us spread the word about our project and also building our community. We have had hundreds of new followers join our telegram and twitter in just the last week or so. They have been very effective. As you know the bigger the community and wider spread of news about the project, the bigger the demand is...
Q4. Sparkle developed a high-performance trade execution engine that supports plug-in matching algorithms, where out of the box, the engine supports FIFO, Pro Rated, and hybrid FIFO + Pro Rated algorithms. What algorithm criteria can be categorised FIRST IN and FIRST OUT, and how?
FIFO (First in First out) is a standard method of accounting that is important in trading. Our trading engine can use that or others so that exchanges and operate as intended by the company using it and to be flexible to be able to change with changing market conditions...
Q5. Could you give an overview of SPARKLE COIN Token tokenomics? Will the design of the token rise and fall with the success of the platform, does it include any scarce paths, such as equity, storage or burning?
There are about 59,301,491 total tokens at this time, but only about 9,300,000 are in true circulation from our Pre-ICO, ICO, Mining and Minting, and Open Trading. (A) About 250,000 were from mining and minting, (B) 2,200,000 were from our Pre-ICO / Private sale where the prices were $0.45 to $1.00, (C) ICO tokens sales were 300,000 and sold between $5 to $35, and (D) the rest from $35 to $68 in open trading.
We conducted the Pre-ICO and Private sales before our ICO in 2017. We are not conducting any more token sales at this time. There are only the 9,300,000 =/- tokens in circulation and are currently traded at SouthXChange.com. We will be listed on much larger exchanges within the next few weeks. We deliberately designed our tokenomics to have great scarcity.
The cost of the tokens was much higher back in 2017 before the big cryptocurrency crash, so even with 9,300,000 $SPRK in circulation, not many people want to sell at the current price of about $1.25. Only the tokens that were produced by mining and minting are really for sale. That is only about 250,000 tokens total...
Q6. Is your target audience gaming companies, sweepstakes platforms and gambling casinos? If so... How do you think your project will help this area achieve greater adoption in the crypto world? Taking into account that many users prefer traditional methods.
There has been a need to move values from the virtual economies of these types of businesses to the real world and fiat for a long time now. Regulations and the lack of a seamless, easy to use platform has kept that from happening. The SPRK Awards Platform solves this problem. Also recently there have been a lot of new wealth created that these companies cannot access because it's in cryptocurrencies, The SPRK Awards Platform also helps with this.
Q7. While you build your project, do you take into account community feedbacks and demands?
We operate under the mantra that we know a lot but not everything so our community is very important to us. They provide us with important feedback and also help us to get the word out about the things we have created and offer. We recently hire SK Chain, one of the best marketing and community building consultants for the cryptocurrency market out there. In just the last week, we have had hundreds of new people join our telegram group and engage the company actively. We are very excited at this and will be expanding this program to grow our community even more.
Q8. I’m a developer, and I’m interested in contributing to your project alongside earning, Do you have any Bug Bounty to check for vulnerabilities ?
Yes, please contact us at [email protected]
Q9. It is great to be able to connect virtual and traditional economies, but what are the rates and conditions that these deserve? And in addition to also requiring gas from your creation chain?
The SPRK Awards Platform automatically locks in the rates per transaction between the stable token of $1 that is used in the virtual economy and the price of $SPRK. We designed our blockchain and $SPRK for large volume transactions, so the network fees are very low. We don't have the same gas prices problems as Ethereum.
Q10. What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?I wanted to follow your project for the long term. Where i can get all the latest news about your project? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?From your website , we can submit problem, suggestion, idea or bug report and get reward, where we can submit that?
Our top priorities for 2021 are: Roll out the SPRK Awards Platform, Get more large volume companies to use it. Engage and grow our community. Increase uses for $SPRK and demand. You can find out more about SparkleCOIN and download the SPRK Awards Platform at: http://www.SparkleCOIN.com Our twitter is: Twitter.com/sparklecoin
Q11. What is really the mission and vision of Sparkle Coin? is it simply being a bridge between the Cex (traditional banking) and Dex economies? allowing users to change them for the real world whenever they want?
Yes, and that's a big mission with extremely large dollar amounts and is something we feel will be extremely to the entire world.
Q12. What is really the mission and vision of Sparkle Coin? is it simply being a bridge between the Cex (traditional banking) and Dex economies? allowing users to change them for the real world whenever they want?
Yes, and that's a big mission with extremely large dollar amounts and is something we feel will be extremely to the entire world.
Q13. I really think I've heard of other projects that manage to connect virtual and real economies through blockchain, do you know who your competitors are? Could you tell us your advantages and disadvantages with them?
We provide a complete solution and not just the blockchain part. Also the SPRK Awards Platform is a standalone so it can be used by any company with very little to no additional development so deployment is fast and inexpensive.
Q14. Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?What really MOTIVATED you to bring such a great PROJECT into existence?
We self-funded all the development of our technologies and we are a mainnet, so we don't have to use smart contracts which can be hacked.
Q15. What really is the long-term vision of SparkleCoin? is it simply to make it easier for users to contercar and change the assets that they have virtual to traditions and vice versa as well? or is there much more?
Everything we do is to increase the uses of $SPRK so there is higher and higher demand for it.
Q16. Really where can I get my first $ SPRK tokens? And when can I trade with it on my favorite IEO platform like Binance? and in futures with Binance Futures?
You can purchase $SPRK at SouthXchange at this time, but we will be listed on one of the biggest exchanges in the world very soon.
Q17. Today, New Collaborations & Partnerships are very Important for the Growth & Developments of any Project Especially for Crypto Projects ! So, Can Sparkle tell us some Recent Major Partnerships of Oraichain Project for project Expansion & Future Plans?
One has already been teased as being the music download company with normal revenues of over $140M. There are several more even larger companies we are talking to now and hope to be onboarding to the SPRK Awards Platform after we officially launch it.
Q18. Please explain what is the advantage of Sparkle over similar projects? How can you capture the most value from this nascent market for data governance, among others? How will that benefit your token holders?
Please download and read the SPRK Awards Platform white paper here: http://www.SparkleCOIN.com
Q19. Ambassadors play a very important role in every project, Do you have an ambassador program? If yes, how can I be one ?
We will be developing more programs like that very soon. Please keep up with us on twitter to be the first to know and be able to be accepted into these programs first. http://www.Twitter.com/sparklecoin
Q20. How does SparkleCoin really manage to combine totally different algorithms one PoW and PoS? And what are the advantages of using this technology for SparkleCoin?
SparkleCOIN (SPRK) is a hybrid token with both POW and POS. We designed it this way so it can be sustainable. With POW only cryptocurrencies, the increase in cost to mine the tokens may eventually make mining unprofitable and thereby dissuade miners from providing the needed processing power and security for the blockchain. With a combination of Mining and Minting, the SPRK blockchain can be assured of the processing power it needs. Furthermore, since we designed the SPRK blockchain to conduct high volumes of transactions, we set the network fees very low so that won’t become an impediment to people and businesses using the SPRK token to conduct their business transactions. Finally, it was important that we created a MainNet blockchain and not an ERC20-based one. Virtually every company we have spoken to about our new SPRK Awards Platform insisted that we had control over our own blockchain so that if something needed to be changed or added, we could do it ourselves and not be at the mercy of another company.
Q21. Who is your investor? How do you generate revenue to sustain the project? What are your goals to the end of 2020 and beyond?Security & User Interface are the Most Important Aspect that Users see on a platform. How has Your Project worked on this? Is Platform suitable for Newbies in the crypto world?
We have funded the development ourselves. We recently invested anther $500K within the last few weeks to reboot the company and develop the SPRK Awards Platform, pay for exchange listing fees, hire consultants, etc. We will probably put in another $500K within the next 90 days to keep ramping up this new effort.
Q22. Can you tell us about your "payment Gateway service"? Who can use the services and how many payment methods do you support until now? Will you add local currency too?
This payment gateway can be used by any company. We can support any cryptocurrency in addition to credit cards and fiat. How the solution developed from our technology depends on the uses and the regulations around those uses.
Q23. Most new DeFi projects are just copies of existing ones, they are just useless. So, what's unique about your project & what makes $SparkleCoin trustable as a long term project for users and investors?
Please download and read our white paper. We are not just a DeFi project, which in some respects you are correct as being useless. We are the bridge between virtual economies and the real world economies. We don't care if any of it is DeFI or not, we can connect everything no matter what it's nature and structure is
OK Thank you to everyone! If you want to learn more about SparkleCOIN and the SPRK Awards Platform, please visit: http://www.SparkleCOIN.com If you want to know more about me please visit: http://www.TheVictorWong.com. Follow us on Telegram and Twitter: http://www.Twitter.com/SparkleCOIN.
