Hi Folks!
This is a recap of another great AMA on the UniLend Finance TG channel (https://t.me/unilendfinance). This time, the guest is Bluzelle, that was one of the first projects to partner with UniLend. Bluzelle's CEO, Pavel Bains, participated in this AMA. Below a recap of this event.
Segment 1: Introduction and basic questions
UniLend:
Hello UniLenders! Welcome @pavelbains from Bluzelle for the AMA 🥳 Welcome to the UniLend Finance Community Pavel, it is great to have you here! Bluzelle is one of the 1st projects we partnered with and our community has grown huge since then.
Pavel Bains:
Good day! What a crazy day for Crypto!!! Bravo to all the people in this group who have been in this space.
UniLend:
haha.. indeed it is! So lets start the AMA with introduction about Bluzelle and yourself Pavel and your journey so far.
Pavel Bains:
I have an interesting background. Started in video games. Worked for EA, Disney. Then moved to digital books for kids. Had a company called Storypanda. We did stuff for Batman, Snoopy, Universal Studios and others. Then discovered Bitcoin and went down the rabbit hole. We started Bluzelle in Canada, moved to Singapore. Did some projects for banks. From there we discovered the need for a decentralized database for the future. Then we began working on what we have now.
UniLend:
Great Journey so far! So the first question that comes to everyone's mind who read about Bluzelle is what makes your Oracles different from ChainLink?
Pavel Bains:
Ahhh. Good q. What makes us special is Bluzelle has a decentralized database at its core. This means we can store data in a decentralized way. But also we can keep a history of it. Because data can be store for a long time, projects can do things like run analytics. This allows security triggers to exist. This lowers the attacks that can happen. You've all heard the multi-million dollar hacks out there. Chainlink cant offer we can because they dont have a decentralized database. This is major.
UniLend:
This is interesting! Now what are your plans with other chains?
Pavel Bains:
Right now we are running on Tendermint/Cosmos. That opens us up to all Tendermint projects to store with us. We're also building the bridge to Ethereum for all those projects. Next big one is our Polkadot Integration. We've already partnered with several top Polkadot projects to use our DB and Oracle. Ethereum, Cosmos, and Polkadot are the chains with the most developer activity. We will have them all running in 2021.
UniLend:
Thanks for this great insight, a lot of our community members are developers too, I am sure they will love to explore more here. So moving ahead, censorship is a major problem now. What will Bluzelle do about this?
Pavel Bains:
Yes. Everyone is seeing what big tech is doing. I was very surprised at Discord for shutting down Wallstreetbets. Once you pick and choose what you censor, its a slippery slope. All ends in disaster. Bluzelle's database is censorship resistant. That means no one can tamper with your data. Or take it down. All apps will stay up. On Tuesday we will be announcing a initiative that will help propel this forward bring innovation to the industry.
UniLend:
All the best for the announcement, this is a very pressing issue. My next question is why do you think Defi need decentralized infrastructure?
Pavel Bains:
You are only as decentralized as your weakest stack link. If one part is centralized on the tech stack, then everything is in danger. We need to move away from using centralized infrastructure like AWS. Otherwise it can be shut down. Like we are seeing right now. Finance is at war and apps like Robinhood are doing unright things to investors. If Defi wants to be the new financial system, they need their databases to be on Bluzelle. Or else governments or big companies can shut them down.
UniLend:
Nicely stated! Defi is already on path to be the new financial system and days like today are stepping stone in that direction. My next question is what would Bluzelle compare to in tradional world?
Pavel Bains:
Closest would be AWS Dynamo DB and MongoDB. Both are the types of database we are. Both are large public companies so all those customers are up for grabs.
UniLend:
This is a huge opportunity right there. We can see Bluzelle is placed well for this. So how do you look at partnership with UniLend and how decentralized database with greater speed can play a major role with permission less listing?
Pavel Bains:
Unilend we want to support woth BLZ tokens. Its a great platform for us. And for Unilend, Bluzelle will provide its oracles services that will add another level of security for all Unilend users.
UniLend:
Amazing! We are excited to support BLZ tokens already! This is great interacting with you Pavel, now its time for us to open the floor for community questions.
Segment 2: Live Questions
Q1. Which Polkadot projects use your oracles?
Pavel Bains:
Reef and Equilibrium for Oracles. Tidal, MantraDAO, RioDefi, Stafi for storage
Q2. What is the Benefit for Holding tokens for Long term?
Pavel Bains:
Dentralized Storage is the next thing rising. You want to be on the right side of history. As more projects use infratructure like us, tokens gain utility. Plus we are adding Oracles and other uses.
Q3. How will the problem of manipulation and tampering be solved in Bluzelle ?Is it possible to completely exclude human influence and fully use a smart contract?
Pavel Bains:
Any change to the database of apps can only be done by the private keys holder. Every change is is validated by our whole network. This prevents any outsider from doing anything.
Q4. How do you plan to develop the developer community? What incentive programs for developers exist in Bluzelle?
Pavel Bains:
Next week we are making a MAJOR announcement for this.
Q5. Marketing is a central element for every project, so that everyone know the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and investors to your project and keep them long term?
Pavel Bains:
Aside from an amazing product and mainnet coming on Feb 3, we have a new roadmap for 2021/22 coming on Feb1. That will show all the reasons why users and investors need to be with us.
Q6. What is main potential threat do you see in blockchain technology currently? What is the real life problem Bluzelle is aiming to solve with Blockchain?
Pavel Bains:
Biggest threat is user adoption. We need more people educated on this tech so that they will use more Dapps. Then we all win.
Q7. Are you a global project or local project? Can anybody anywhere use Your project without any restrictions?
Pavel Bains:
We are global. Our goal is to have thousands of nodes around the world.
Q8. What plans do you have to help drive demand and scarcity for the token?
Pavel Bains:
A superior Oracle product that all of Defi needs. This increases utility of our token BLZ>
Q9. Are you planning to burn or buy back any tokens from the market in the future? Do you have such programs?
Pavel Bains:
No burns or buybacks planned. We dont see value in them working for us. We see staking and driving utility with our Oracles as a better way.
Q10. What are the major milestone for BLUZELLE in 2020? Can you share with us the short-term goals and long-term goals of BLUZELLE ?
Pavel Bains:
Stay tuned for Feb 1 for this major roadmap release. Wow so many great questions!!! Hard to type so much. LOL
UniLend:
This was a great session, absolute pressure to have you with us! Thanks again for joining us today, have a great day ahead! So here we conclude the AMA with @pavelbains CEO of Bluzelle, do check out their community for more info.
Pavel Bains:
Thanks UNILEND community. Looking forward to working with you all. Remember our Mainnet Launch is Feb 3. You can stake with us and get >20% APY. BLZ is on Binance and Huobi.
