On 30th of March Paid Network conducted an AMA in Crypto Revolution Community. Our guest were Kyle, CEO of Paid ( who stopped to say Hi ) and Mark Rittmer, Head of Business Development for PAID Network! Interest was near explosive for this AMA! Paid Network is TOP Crypto Revolution Project for 2021 and as well in my opinion Number 1 Crypto Project for 2021! Let’s take a look at the most interesting points from our Conversation! Btw this was my best AMA since I own Crypto Revolution Network. Mark was an awesome guest!
Danny | Crypto Revolution: Welcome Mark! And welcome Kyle!
Mark | Paid Network: Hi Danny, thanks for the introduction, great to be here
Really like what Crypto Revolution is doing for the industry!
Danny | Crypto Revolution: Really an honor to have Paid team today here. A lot of hype is going on around Paid all the time 😁 Thank you for the kind words. Appreciate them! Could you please introduce yourself to the Community?
Mark | Paid Network: Sure. My name is Mark Rittmer and I am the Head of Business Development for PAID Network. I’ve been investing in crypto since the beginning of the last bull run in 2017, and have been working with PAID since last summer. I’ve seen PAID go from concept to reality, and it’s been amazing. I got involved with crypto during 2017, when a friend informed me that his DASH node had risen in value from $4000 to $330,000. I was on the phone, and nearly dropped it onto the street. I immediately ran home to discover “crypto” and have been obsessed ever since.
Like a lot of you, I’m living and breathing crypto, especially in this bull market. Its the last thing I think about when I go to sleep, and the first thing when I wake up. Can’t get enough.
Danny | Crypto Revolution: Noicee. So this call was kinda Life Changing for you 😀
Kyle Chasse | CEO PAID Network: Hello everyone :)
Mark | Paid Network: Absolutely, it was transformational. I had another career at the time, but spent a lot of my working hours researching crypto instead. Should have taken that as a sign, haha
Danny | Crypto Revolution: Yoo Kyle. Welcome 😁
Mark | Paid Network: Hey Kyle!
Danny | Crypto Revolution: Thank you for taking off from your Valuable time to be here 😀
Kyle Chasse | CEO PAID Network: No problem!
Danny | Crypto Revolution: We’re experiencing now really good unstoppable Bull Run..Till when in your opinion? 😀
Kyle Chasse | CEO PAID Network: I have call in a few min! But you’re in capable hands with Mark! Just wanted to say hi! And thank you for hosting us!
Mark | Paid Network: Hmm good question. A lot of people are saying six months, as they are likely measuring it against the last bull run. Seeing as how we are experiencing a lot of institutional adoption, we may be entering a supercycle. That might last longer. My optimistic side says at least 12–18 months.
Danny | Crypto Revolution: Hopefully you are right 😁
Mark | Paid Network: If we make it one year in this bull market, it would be amazing. It’s likely to last that long!
Danny | Crypto Revolution: Definitely. Will change our Lifes for sure!
Could you please introduce Paid Network in Layman’s term to the Community?
Mark | Paid Network: Its alraeady been life-changing. Working for PAID is one of the most meaningful experiences of my life up to this point. Couldn’t be happier. Sure, let me introduce PAID.
Danny | Crypto Revolution: 💪
Mark | Paid Network: So, PAID is a decentralized protocol offering users easy-to-use web and mobile apps, enabling them to do business with anyone anywhere, without the need for expensive legal services.
To expand on that, with PAID’s proprietary SMART agreement templates, users can quickly fill in terms and execute simplified business contracts from their desktop or mobile phone. PAID removes the unnecessary complexity of creating and executing documents, as well as breaking down the borders that complicate arbitration. Through the community-governed arbitration system, disputing an agreement will be insanely easy and efficient compated to legacy systems.
What you are all likely familiar with is our project launchpad, Ignition. We are doing IDOs for the best Tier-1 projects in the space.
We’ve launched Shadows and Blind Boxes so far, and this week we have Splyt and AIOZ. Very fortunate to have these projects on our platform.
Danny | Crypto Revolution: Now really important Question: We all know what’s happened with Paid few weeks ago with the Hack. This turned away some Investors, also there was some Fud on Twitter especially from Waronrugs. But a lot of people stayed behind Kyle and supported him through this ( including myself ). So what steps did you take to prevent this for happen again in the Future?
Mark | Paid Network: Absolutely, that is a big question in everyone’s heads, I am sure. In short, we’re doing everything we can to prevent a recurrence of the hack. We’ve implemented multisig for our smart contract, and have hired some of the most respected security firms in the industry to audit all of our our security processes and all of our internal management processes. We are implementing enhanced security features in our development team. Going forward, we will continuously be working with these firms to ensure we stay secure.
Danny | Crypto Revolution: Thank you Mark. Really important for Community Trust!!
Mark | Paid Network: We’ve been working overtime since the hack, to try to undo the damage that was done. We continue to work toward regaining the support of our community, and intend on powering forward with security at the forefront of our agenday. So far, our community has been largely supportive. We are grateful for that, and moved.
Danny | Crypto Revolution: What is your take on the Fud keep going from Waronrugs about Paid. They even fuded one of the Projects on Ignition — Shadows!
Mark | Paid Network: Right now we are focused on learning from our mistakes and building one of the most secure platforms in crypto. The hack highlighted some areas where we needed improvement, and we have tackled those issues head-on, with transparency to the community. Waronrugs tends to get attention by questioning the hard work of others, and this situation is no different. As far as Shadows goes, we feel its a fantastic project, and we offer them our support for any concerns they may have.
To keep a clear focus, its necessary to ignore trolls. Yes, take their message into consideration. But don’t give them more attention than they deserve.
Danny | Crypto Revolution: Thank you Mark. Great response :+1:
Mark | Paid Network: Thanks Danny, appreciate it. It’s always tough to answer these types of questions. There were some mistakes, but we hope to be defined by our successes, and not our failures.
We will work toward that. Tirelessly.
Danny | Crypto Revolution: With the continuous work you guys do all the time Fud will totally stop near future 🙂
Mark | Paid Network: Haha lets hope so. Fud is fud, it comes and goes, But its better to see it go, haha
Q1 from @pvanstrauss
How do you see IGNITION’s positioning with the profusion of new launchpads on the market? What do you think will be the key factors that will determine leadership on this market as demand increases and lottery may not be suitable anymore?
Mark | Paid Network: This is a great question. There are a lot of competitors, it is true. Given the extensive experience the PAID team has with the crypto industry, we are able to offer more than just a launchpad to our IDO projects. We are able to incubate and advise on every facet of project development, if it is needed. We are selective about which projects launch on Ignition, as we wish to deliver only the best projects to the PAID community. We also have a massive community of token holders and social media support, and every project launching on Ignition gains access to this community, drastically increasing exposure. We feel these distinct advantages set us apart from the many launchpads now coming online.
I think maintaining quality is really important, in terms of determining which projects to launch. We want to build a name as a top tier launchpad for top tier projects.
The launchpads that excel are the ones who can offer full service offerings to top quality projects.
Danny | Crypto Revolution: Yeap. I totally agree. BLES ans Shadows are both awesome and are doing very well. I can’t imagine the future ones 😁
How many confirmed IDOs coming on Ignition. I heard April will be pretty busy 😀
Mark | Paid Network: Haha, well you know Splyt and AIOZ, those will be massive. We are very pleased to bring this to our community. And we have so many more in store, just you wait! haha. Well I can’t give too much information, as announcements need to be planned and scheduled, and so forth. But can say, we will be consistently busy this April, and its going to be good. Our PAID community will really benefit from what is coming.
I’m getting goosebumps thinking about it, and resisting the urge to spill the beans, haha
long story short, get ready for more excitement!
Danny | Crypto Revolution:
Nice. 😁 Looking forward for it. A lot of people don’t like the Lottery System for the IDOs. Are you planning any changes? And could you please tell us for people who don’t know what are the Conditions to participate in Ignition IDOs?
Mark | Paid Network: Kyle is always on the phone with new projects, and he is a very astute evaluator of the potential of projects. Its amazing to see him work. We all learn a lot.
The lottery system did change a couple of times, and that was primarily because we needed to adjust the requirement for participation. We first said you needed at least 2500 tokens to participate, but as that became less accessible to the community, we lowered the requirement to 1000 for one ticket. We understand the system is not perfect, but we are always open to suggestions from the community. We just want to make sure that as many people can participate as possible.
you have to hold at least 1000 paid tokens to receive one lottery ticket. This lottery ticket gives you a chance to win an allocation in an upcoming IDO. Youll have to go through the whitelisting and KYC process to be able to participate.
Danny | Crypto Revolution: Thank you. 1000 is pretty Affordable in my opinion.
Mark | Paid Network: If you hold 75k paid tokens, you can get a a guaranteed allocation!
Yes, 1000 isnt too ridiculous. If that becomes too cost prohibitive in the future, we are open to modifying it. But for now, we feel its the right system, and will continue to evaluate as the situation changes.
Danny | Crypto Revolution: And guys some of this $500 Allocations can turn into $50 000 believe me 😉
Mark | Paid Network: 🔥
Q2 from @svriegoo_
1.What do you consider as your biggest obstacle for long term success and how are you trying to overcome it?
2.What are your current plans to onboard new clients and what market are you targeting?
Mark | Paid Network: Good questions.
In my opinion, I think our biggest obstacle to long term success for PAID Network the DApp is synonymous with many projects in the space today, and that is mainstream adoption. With the many legacy enterprises now getting increasingly involved with cryptocurrency, the public opinion is swaying more in the direction of crypto as a viable method for transforming antiquated systems. We feel this obstacle will shrink, as society increasingly adopts crypto. We look forward to our PAID DApp taking a larger and larger role in improving the quality of doing business for people.
Building emerging technology is always a challenge, and we will certainly run into obstacles. The key is being able to understand how tech works from a macro perspective, and to reverse engineer solutions based on available functionality.
As for question 2
We currently are onboarding new clients for our Dapp in the crypto industry, and in the short term we are targeting crypto firms to use our Dapp. We’ve been able to secure some great partnerships with crypto projects so far. As head of BD, I am constantly on the phone with other crypto projects and sending outbound communications to legacy businesses, to give them a taste of what we offer.
Danny | Crypto Revolution: I’m sure you are a busy person 😀
Mark | Paid Network: As our tech matures, we will spend more time onboarding legacy businesses
Haha insanely busy. My girlfriend is quite understanding but I’m sure she would like it if i took a weekend off once. in a while, haha
Danny | Crypto Revolution: What are conditions to call one Business “Legacy” in your opinion?
Mark | Paid Network: I’d say a legacy business is one that doesnt have any use of crypto in their current operations, with no strong plans to adopt. I think we can agree that most of these more traditional types of businesses don’t yet understand clearly how the blockchain can enhance their operations. We hope to onboard the tech sector at the outset, as they are more likely to learn how to use the tech faster.
Danny | Crypto Revolution: Definitely good targeting 😁
Mark | Paid Network: With the PAID Dapp, I really feel the sky is the limit. I’d love to see a legal council formed on behalf of PAID, to help us communicate our message to broader society.
This is something I hope to pursue once we get out of the startup phase, ideally in a quarter or two. I feel it would legitimize our vision quite a lot, and bridge the gap between crypto and “regular life”
Danny | Crypto Revolution: Btw any CEXs Listing coming soon 😀
I’m sure you get this question quite often 😅
Mark | Paid Network: Hahaha. maybe. a solid maybe 😉
Q3 from @mylhe
As the world’s first borderless, civil legal system powered by Polkadot and Defi, how does Polkadot being utilized by Paid Network ? Can you explain more about how your platform become first borderless civil legal system?
Mark | Paid Network: Initially PAID Network will port to Polkadot, using Plasm. Polkadot offers the interoperability which PAID will need for broader adoption of its DApp. Our DApp will also need to have cheap transactions in order to sign our SMART agreements at minimal cost. The ultimate goal of PAID is to secure a parachain slot on the Polkadot network, to handle large transaction volumes at an ultra low cost, and give us the ability to run on many chains at once.
Danny | Crypto Revolution: Niceee 😁
Mark | Paid Network: Lets take an example, you are a web developer in Panama, I am located in England and I want you to build my website. For some reason, we don’t agree that the work was done correctly. We have arbitrators come in and decide who is right. The person who is in the right will receive compensation according to the decision of the arbitrators. This will be done seamlessly across the ocean, across international borders and jurisdictions. We want to have our platform spread equality to everyone, regardless of the laws of their country. We hope that our platform will allow poeple from all corners of the world to do business as effectively with one another, as they would do domestically in their own country.
This is how we plan to realize the vision of a borderless legal system
Danny | Crypto Revolution: Oh well I can say that I love that!
Mark | Paid Network: Fantastic. When i first learned about PAID, i was extremely excited to work here. Can’t get enough. Shamelessly biased for PAID haha.
Danny | Crypto Revolution: Btw what is your personal take on Uniswap V3 Release and on the hype we have recently on BSC Network 😀
In other words. How this will affect Paid? 😀
Mark | Paid Network: From my understanding, Uniswap v3 is intended to improve the user experience and reduce risk for involved parties. We can look at this as benefitting the community as a whole. I am sure our community would love to see less slippage and lower risks for LPs
Besides, “if” we list on a CEX soon, our community will have a variety of options in terms of where to procure PAID :wink:
Danny | Crypto Revolution: Oh yeah and lower fees 😀
Mark | Paid Network: Absolutely, that too. The fees are insane. I personally think that this is a deterrent for smaller purchasers. Hoping that we can soon have more accessibility for our community, its painful to see fees comprise such a large percentage of a purchase price.
Q1 from TehMoonHunter
It is interesting how the incubators are becoming popular and now there is a competition between all of them, especially to offer marketing to the IDO client and the user who is the consumer, PAID decides to launch a V2 version in full transaction to improve what aspects In particular, both for the performance of the UI / UX platform and the benefits of the aspirants lotteries, whitelists and other things, then among all the mentioned what is the strategy for their IDO Parther and the user to have, as I said, the performance of the attention and generate a solid status to continue consolidating high-rise projects that are not only detailed in the price but also in the characteristics that each one offers, what PAID looks for, , what PAID does, which makes it flexible in the face of so much competition now to achieve the adoption and approval of the client that take your product and also your token?
Danny | Crypto Revolution: Long, interesting question 😉
Mark | Paid Network: Haha yes thats a complex one, let me see if i can address all the elements of that, one sec!
As i mentioned before, we feel that the Ignition launchpad has the industry experience behind it to offer genuine and substantial value to any IDO project wishing to launch on Ignition. We offer a full suite of services, including marketing and marketing strategy, business development, tokenomics, investor network, and social media network and experience. We’ve advised and invested in multiple projects including Kraken, Coinbase, Ripple, Abra, Bitstamp, Bnktothefuture, Bitfinex, Circle, and many many others. We have the ability to evaluate each project on an individual basis, taking into account their technology, team, vision, and stage of development. It takes a trained eye to recognize what’s important in this space, as there is a lot of noise. Thankfully Kyle is a pro, and picks them well.
Danny | Crypto Revolution: All you mentioned are pretty solid ones!
Mark | Paid Network: We feel we already have quite a head start, with over 20 IDOs set to launch on Ignition in the coming weeks, and we are in talks with even more which are solid. I think April will be an extremely exciting month for us and the community. May is also looking pretty awesome, as well. Its almost mind blowing, how things are just lining up so beautifully!
Danny | Crypto Revolution: So with April and May being massive ones we all can go on Vacations in the summer. Lol 😃
Mark | Paid Network: Personally, I’ve never worked so hard in my life, and my team are some of the most hardworking people I’ve ever met. The work culture is relentless. And my colleagues are brilliant. Its been surreal, in the best way.
Haha, whats a vacation?
Danny | Crypto Revolution: You know hard work always pay off 😉
Mark | Paid Network: It sure is shaping up to be that way! We’ve come quite far already, and at the same time, just getting started! When work is so engaging, its less tiresome!
Danny | Crypto Revolution: Btw I see some guys who are kinda Paid Ambassadors in your Telegram Community. Do you have something like Ambassador Program where people can apply and be Paid Local Ambassadors?
Mark | Paid Network: We are really grateful for the community members who are extra supportive of us, and we are always watching to see who is advocating for us. If someone wants to be involved as an ambassador, its fairly straightforward, you’d just need to be quite supportive of us and show that. We don’t really have a formal structure for being an ambassador, but if active and supportive community members reach out to our CMs, or the existing ambassadors, we will talk with them.
Q2 from Crypto Investor
In the DeFi market there are a lot of lending services and it’s hard for the users to choose especially if they are new in crypto. Could you please give me three qualities of paid network??? Why i need to choose it over other famous lending DeFi services?
Mark | Paid Network: Great question, let me ponder that a moment!
Danny | Crypto Revolution: Always 🙂
Mark | Paid Network: The all-in-one nature of our platform allows you users to borrow and execute any relevant business services associated with a contract in one place. Furthermore we will have some of the most competitive rates in the industry with the nature of our peer to peer lending marketplace. Gathering startup capital for your business will also be done through the platform, with your interest rates tied to your reputation score.
Lending services will be offered in Q4 of this year. By the time we are ready to launch this feature, we will have an extensive network of users for our DApp. The lending pool available to users will offer a number of additional advantages which will become more apparent as we near the launch of our lending feature. At the end of the day, its all about the community of users. The larger the community, the more flexibility we can have in terms of lending.
Danny | Crypto Revolution: Can you tell how many people are using Paid DApp at the moment?
Mark | Paid Network: We’ve recently completed work on our MVP, which is essentially docusign on chain. In order to deliver the full SMART Agreement framework, we still need to develop and implement the DeFi features needed, such as escrow, insurance, and lending. We are designing a complex product here, and that takes time. All that being said, we have immense support from the crypto community, with many partners planning on using our Dapp once its ready. We are still polishing the MVP on the front end, and plan to implement it soon. Our goal on the commercial end now is to increase awareness of our product, so that when it’s ready to launch, we will have a community ready to receive it.
Danny | Crypto Revolution: Got it. Thank you!
Mark | Paid Network: Crypto is a fast moving industry, and tech is not as fast, haha. That is the paradox here.
As developers say, “You can’t have 9 women make a baby in one month” lol
Danny | Crypto Revolution: True 1 day in Crypto is probably 1 month in real Life 😂
Mark | Paid Network: Haha the time distortion is insane!
Q3 from Jay Mat
What do you think of the fact Danny (owner of Crypto Revolution) supports you like this? Can we expect something extraordinary between Paid and Crypto Revolution?
Mark | Paid Network: Ah my favorite question! haha
Danny | Crypto Revolution: May be Answer will be surprise for me as well. 😀
Mark | Paid Network: I feel that this conversation we are having right now is extraordinary, its amazing to bring together two industry giants in a collaborative way. We sincerely hope to do more of these collaborations in the future. And we feel that creating this connection with Crypto Revolution will bring so many benefits that we havent even considered yet! The possibilities are endless.
We really appreciate your support, Danny, Kyle speaks highly of you!
We are open to whatever ideas you got!
Danny | Crypto Revolution: 90 minutes flew away. Thank you for covering all this Questions. Btw before we move to Live Questions from Community are you based in Thailand as well? 😀
Mark | Paid Network: Haha, seriously it went quick! That time distortion we discussed, haha. I am currently in Thailand, yes, and its amazing.
Danny | Crypto Revolution: Bear with us. Still didn’t finish. Haha
Nice. Planning to come visit and see all the dudes from Paid Team :grin::grin:
Mark | Paid Network: We are building a crypto coworking coliving space here called house of DAO. It’ll be an innovation and incubation center for blockchain. as well as a lifestyle.
Yes come stay at House of DAO with us!
Danny | Crypto Revolution: Oh well. Definitely I will 😁
Mark | Paid Network: Community members will be able to stake PAID tokens to stay there! But i can’t say more just yet 😉
How does Paid Network assess the risks associated with market uncertainty and volatility? Is there a market risk hedging mechanism to ensure user safety?
Mark | Paid Network: The nature of crypto is such that these things are largely out of the control of individual projects. I think it’s more about broader sentiment in the market. For our project in particular, we are focused on delivering value. Whatever happens to the token is a result of that. We really try to zero in on our goals and don’t spend our time worrying about the value people assign the token, simply because we firmly believe that when we deliver on our promises, the community will inevitably benefit.
I think there is too much hype in this industry and that more projects should focus on delivering, instead of these short term concerns which won’t return long term value for holders.
Would you agree with EVERYONE that community is everything? How important is the community to you? How can we collaborate or help you to develop the project?
Mark | Paid Network: Absolutely I agree the community is everything. If the community loses faith and us and dumps their PAID, where does that leave us? I’m also heavily involved in customer support, and we are building a system to make sure that the community feels heard at all times. We are a startup, But our goals are to deal with the community like a mature company, like seasoned professionals.
What is the strategy to attract more paid investors for the IDO launches, do you have any additional strategy with the NFTs that are currently engulfing the market or are you planning to launch paid in the future as well?
Mark | Paid Network: So we feel that our platform already has considerable traction, and in order to continue to maintain this momentum, we will stay vigilant about making sure the lotteries are accessible for participants. Again, we want to deliver value. So , going forward, we plan to continue this. As for NFT’s, we’ve actually got some surprises in store from PAID. We understand the potential, and are definitely making strategies to take advantage 😉
Danny | Crypto Revolution: This was really great Conversation!
Final Words for Community?
Thank you Kyle for showing up as well 😀
Kyle Chasse | CEO PAID Network: Hey everyone!! Thank you so much for your time!
Mark | Paid Network: Thanks as well! I really enjoyed this. Thank you all for participating in this AMA, I hope you have a better understanding of PAID, and are as optimistic as we are about our future!
Kyle Chasse |CEO PAID Network: Make sure you pay attention to our annoucements tonight!! Big ones coming!
NOTE: 2 major Announcements after the AMA:
Danny | Crypto Revolution: Thank you so much for your time!
As you said Mark is a great guy!
Mark | Paid Network: Ah thanks guys, appreciate that!
Danny | Crypto Revolution: I personally listen to everything coming from Kyle. Lol 😀
Mark | Paid Network: You guys are great as well, appreciate this chance to talk to the community
Me too, I have learned so much, its been amazing
Danny | Crypto Revolution: Looking forward to meet you and Kyle personally 😁
Mark | Paid Network: Same here! come visit us soon!
CRYPTO REVOLUTION SOCIAL MEDIAS:
Telegram group — http://t.me/crypto_revolution1
Twitter — https://twitter.com/revolut20
Telegram group: https://t.me/paidnetwork