For those who unfortunately missed our AMA with Apache Traders on Monday 3rd of August you can now catch up on the entire session here. We would like to open by thanking Apache Traders for hosting us! Look forward to the next one.
Good evening. Thanks for joining us here at Apache Traders. Before we begin the AMA, I would like to give you a moment to introduce yourself and other teams members to let our community know what your roles are with the project.
I’m the CEO at Numio and have been working primarily on product management and research on our products for the past 18 months. We have always sought to incorporate the best technologies on the market, along with our proprietary tech into both Numio Pay and Numio Vault. This is why we have partnered with the PhoenixDAO team using their Identity and Authentication protocols in both Pay and Vault.
Hello everyone! Excited to be here, thanks for having us. My name is Tim and I am the CTO of Numio. I run the engineering and architecture strategy for our company. I deal with lots of code our blockchain and full-stack engineers are creating for our core products Pay and Vault! Looking forward to your questions today.
I am Clement and i am the Director of Product Design and Marketing at PhoenixDAO. I help the foundation with intuitive product design, development and marketing strategies. When i am not doing some of these things, i work directly also with the developers in setting up server side integrations and UI development. Happy to be here!
Once again. Happy to be here. I’m Monte Thomas, Partnership Director PhoenixDAO Foundation. You can find me with anything partnership related around the project. Basically I look out for opportunities to increase the frontiers and reach of PhoenixDAO suite of protocols usage across Blockchain verticals and horizontals. I’ve had over 5 years academic and field experience in the Blockchain and Data Analytics industry covering Marketing/Sales/Biz Development.
Thanks. To start with we will now post few questions from our twitter feed.
PhoenixDAO has partnered with Numio! How do the PhoenixDAO Identity and Authentication protocols influence Numio Pay and Numio Vault? What benefits has this association brought to its investors and PhoenixDAO ecosystem? Are there plans to join new projects together?
When it comes to authentication, Numio team has built out a 2FA solution directly into Pay that allows you to login to Numio Vault by scanning a QR code from Pay. This auth process uses on-chain identities/addresses, and allows for people to authenticate themselves in the most secure manner digitally without having to search through Google Authenitcator codes, or get phished typing a code into a phishing site.
Numio products also use Phoenix Identity which allows users to verify their identities on-chain and get on-boarded instantly onto partner crypto exchanges without have to complete multiple KYC processes.
What’s NUMIO, what problems does it solve that existing solutions are not solving?
As a company Numio is a global team of passionate blockchain and product development specialists from across the globe, dedicated to simplifying and fast-tracking blockchain adoption. Numio is a digital identity-based mobile app and web wallet for the unbanked to connect with DeFi services.
Numio Pay is a mobile app featuring identity management, blockchain based 2FA, and digital payments both peer to peer as well as paying for items at merchant locations. It has quite a lot to offer under the hood.
Numio Vault is an advanced crypto storage solution featuring private keyless security and blockchain based 2FA not present in other decentralized solutions — which will be used by merchants to collect payments from customer’s Numio Pay apps at registers in unbanked markets.
What will the recent partnership with BarterTrade bring to PhoenixDAO’s growth and development?
I’ll get on this. With BarterTrade looking to utilize the PHNX protocols, this not only brings additional credibility to the PHNX tech but also an extremely strong partnership which is hopefully going to lead to additional token utility and exposure. BarterTrade see security being paramount and that is where among others PhoenixDAO Authentication, Identity, and payment protocols come handy. As awareness grows, we are already strategizing and putting plans in place for more of such partnership to be announced in the coming days.
I read on your twitter that next week you will unveil the first $PHNX flagship application, can you give us a preview of this and tell us about any particular feature the application will have?
Getting PHNX into the hands of our community is paramount to us. What we have built is a sustainable way to do that which encourages community growth, token utilisation and so much more.
The PHNX Flash staking dApp will give anyone who wishes to stake PHNX their rewards instantly. So if we were to set the rewards to say 5% APR and a user stakes 10,000 for one year, they would immediately receive 500 PHNX.
Initially we will be phasing the launch so we would be offering invitations to join the beta program however, before long we will open this to a wider user base.
Something we are also excited about is that we have developed the platform in such a way that other projects will be able to participate, that will come later though :-)
Lastly, i would love you all to take a look at this very short video, it typically shows in summary some of the features we look out for $PHNX to have, also kindly subscribe to our channel and share. Thanks!
By using Phoenix Payments, can I pay using fiat money? Are there any kind of commissions? Do you have a debit card in mind?
This looks like the next big thing in the space. I mean ability to buy crypto with your fiat DC/CC. Right now the Phoenix Payment is a layer 2 protocol. What you’re asking here refers to a layer 3 dApp or application. Our partnership with Numio will enable users to purchase PHNX directly through Numio Pay and Vault using a debit or credit card. Numio are close to launching their products. We will also be actively looking at companies and tech to make the purchasing of PHNX easier and more accessible to the masses.
Phoenix storage is built on intelligent file storage contracts #IPFS, how do you handle the main disadvantage of this which is: the impossibility to delete the information from the network?
This isn’t something that can necessarily be inherently solved at the protocol layer. These types of functionalities are a great tool-set for integrations at the application layer — for instance with a Numio integration
For example, companies/apps can implement some creative UI where you can have something stored in a central DB initially, and then stamped on-chain after a certain period of time; giving users the time to edit, or make changes. However, when it comes to the protocol layer, you can’t necessarily “delete things” entirely since it’s a shared database. You could just have a front-end that hides these things or keep them encrypted forever. Getting in the weeds a little bit here.. :D
With the phoenix identity contract, there is a “Destruction” function that can be called to permanently disable the identity- you can think of this as making the on-chain identity becoming “nuked”. This only occurs when you lose access to the keys, or you can’t recover it.
These protocols allow companies like Numio to integrate state of the functionalities into apps without reinventing the wheel or getting too into the weeds at the application layer. Pretty neat.
This is the last question from twitter, we will unmute the chat after this to take questions from our community.
Telegram Question 1
Hey. Its so good to have this ama and you guys have been wonderful about explaining the system pretty well. One of the projects i have followed so long and have trust in is the civic project and it is very much similar to what you guys are bringing to the platform as well. So can you let us know how the phnxdao would be a better solution? How is erc 1484 or a Dao protocol better than an erc 20? And finally how easy it is to integrate phnxdao into an existing identity framework like that of a govt?
Interoperability is one big issue needing answer in the space and we offer that, which is one reason why we are unique. A project such as Civic focus on just one part of what PhoenixDAO offer.
Something that makes PhoenixDAO quite unique is that we used Ethereum at the layer 1 level to build into layers 2 & 3 adding $PHNX utility throughout.
Also we’re actually releasing usable products ourselves and with out key partners which still is quite a rare thing in the space.
- Layer 3 — APIs, Apps, & dApps (e.g. Numio Pay, Numio Vault, Events Marketplace, Cryptokitties, dApp Store, and basically any other product on Ethereum)
- Layer 2 — Smart contracts & protocols (e.g. PhoenixDAO, Uniswap, Link, MakerDAO, DAI)
- Layer 1 — Blockchain Network (e.g. Ethereum, Bitcoin, etc.)
Telegram Question 2
Who is the team behind this amazing project? What is the background?
Telegram Question 3
What is the Phoenix Events Market dApp? How will it work and when will it be available? Thanks
I can touch on this one — the Phoenix Events marketplace is pretty remarkable dApp. Users can create events and sell them in $PHNX. It’s an open-source flagship dApp from PhoenixDAO and you can expect to learn more about it soon from the PhoenixDAO team. In the meantime — you can check out some screenshots here.
Telegram Question 4
I read about the PHNX flagship Dapp and am excited because I am an ETHICAL HACKER AND EXPERIENCED DEVELOPER.
Do you have plans for HACKATHON so as to check the security of your ecosytem periodically and
What programming language does you employ to build your Dapps, I know SOLIDITY, Java C, KSML, EVM
Telegram Question 5
What’s your greatest threats going forward and what plans are in place to overcome them?
We are building something quite new or improved. For now we don’t see any threat, although as it is when you thread a new path you expect to see challenges.
Telegram Question 6
How to GUARANTEE the AUTHENTICITY of a DIGITAL IDENTITY and avoid that A SINGLE USER has MULTIPLE IDENTITIES?
Numio uses advanced AI 3D face scanning technology to verify identities. This ensures a bad actor will not be allowed to steal another’s identity. This is essential in keeping your accounts secure.
Telegram Question 7
Comparatively, with regards to speed, precision and,accuracy, how does you differ from the many payment solutions existing today?
All things payments are plagued with security threats, how do you overcome the security issues associated with DeFi and payments.
I can jump in here from the Numio perspective — these are all great points, speed, precision, accuracy & security — if you miss one of them there can be lots of issue. Some of this can be enhanced or even solved by a a few things — one in particular is enhanced Blockchain based 2FA, strong and fine toothed comb audits on the application and protocol levels, and really native and comfortable user experience. All of this is just a piece to the puzzle and without one piece it can be incomplete.
Telegram Question 8
What are the uses of $PHNX and what role does it play in the ecosystem? How can we get it? Could you also share your current tokenomics? Thank you!
What is the Phoenix Events Market dApp? How will it work and when will it be available? Thanks!
$PHNX has so many use cases, one major use case would be for the DAO, the token would be use by the community to make decisions and for voting on the DAO system. There are several exchanges the $PHNX is currently being listed on, Bittrex, Coinex, Probit and Uniswap respectively. Our white paper has details of the tokenomics and much more information are right in there to keep you abreast. The Phoenix Events dApp is also an amazing one that allows users to create and manage events, something more like Eventbrite but this time it’s powered by Blockchain and DeFi! This should be available for the public in few weeks from now.
Telegram Question 9
How is the PhoenixDAO project financed and benefits from all the services it has built on the blockchain?
We were not funded from start, but the ecosystem we’re building will be self sustaining as it’ll be able to generate funds from different products like the DAO platform, flagship dApps, Phoenix decentralized store, Phoenix events and more to come.
Telegram Question 10
As a developer I Know SOLIDITY, Java C can I build dApps on NUMIO
That’s fantastic! Some great languages for sure — this space is buzzing with innovation and Solidity/Java/C are a skill set which can definitely advance this space.
I would check with the PhoenixDAO team about ways in which you can contribute to their ecosystem especially as more news of their DAO platform evolves — it allows projects like Numio to use some state of the art protocol layer tech and cool dApp integrations.
Telegram Question 11
What method or actions does PhoenixDAO implement to expand its community?
Some of the attractive features of PhoenixDAO that will help to expand the community fast
1. All spending will be voted on by the DAO and every PHNX spent posted on our running budget page.
2. The Phoenix DAO does not rely on donations; it is self sustaining through the Phoenix dApp Store.
3. By participating in governance, you can earn PHNX.
4. Open framework for participation, and enables anyone around the globe to push the ecosystem forward.
5. By staking your PHNX into the contracts, you are able to earn rewards.
With this we will close this session here.
We want to sincerely thank everyone for joining us tonight especially the PhoenixDAO and Numio team. For more questions and discussion about project you can join the team in their Telegram.
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