Hello, Satoshi clubbers Another AMA took place at Satoshi Club and we would like to introduce to you the AMA session with our friends from VAIOT. The AMA took place on 20 November.
The AMA session was divided into 3 parts with a total crypto reward pool of 1000$
In this AMA Recap we will try to summarise the most interesting points for you.
Part 1?—?introduction and questions from the Telegram&Bitcointalk community
Mary | Satoshi Clubadmin
Hello again, Satoshi Club! We are happy to announce our AMA session with VAIOT! welcome to Satoshi Club:grinning:
D. | Satoshi Clubadmin
hello everyone!
Mary | Satoshi Clubadmin
@daniell1337 @szachnom , @ba1ciu @APawelVAIOT welcome to Satoshi Club :grinning:
D. | Satoshi Clubadmin
@daniell1337 @szachnom @ba1ciu @APawelVAIOT hello guys! nice to see you here! :grinning:
APawelVAIOT
Hello! Pleasure to be here!
Michal Szachno
Hello everybody
Jakub Kobeldys
:wave:
Daniel
Hey everybody
APawelVAIOT
Good to have you here mate!
D. | Satoshi Clubadmin
hello! good to have you here:grin:
Mary | Satoshi Clubadmin
Hello, everyone again, happy we are here all:joy:
D. | Satoshi Clubadmin
and we can start our AMA! :blush:
Mary | Satoshi Clubadmin
And guys, please, introduce yourself and VAIOT project to our users:grinning:
APawelVAIOT
Sure. Me name is Pawel and I’m the COO at VAIOT. I’m a Project Manager by training and experience. I’ve worked for big companies in Poland and in the UK managing IT projects in the areas of network infrastructure, app development, infosec etc. I also managed an Infosec department for one of the polish IT companies. Worked for BNP Paribas, Atos, Royal Mail, Aviva and few more. Happy to lead the operations and project management activity for VAIOT now!
Daniel
I will keep it short and simple
My name is Daniel and I am leading all marketing efforts at VAIOT. I manage all our social media channels, growth efforts and community related activities.
Mary | Satoshi Clubadmin
Oh, you have a lot of work to do and do it perfect :+1:
Great background, sure it will help a lot for VAIOT development
Jakub Kobeldys
Cheers everybody. I’m leading development team at VAIOT and I’m happy to be of service if you have any technical questions about our solutions
Ah..and my name is right above the post
Mary | Satoshi Clubadmin
Jakub, you are that guy that make magic:joy: and everything works)
D. | Satoshi Clubadmin
yeah, in Satoshi club you can find all sorts of questions:smile:i think we will have technical questions for sure today
Michal Szachno
Hello, good to have you here! I am the co-founder and Lead Blockchain Expert at VAIOT.
On daily basis I focus on the research and development of our solutions. Will be glad to assist you on any blockchain and token related questions
APawelVAIOT
Regarding VAIOT there are few important points you need to take away from this AMA. First VAIOT is developing a portfolio of Intelligent Virtual Assistants for both business and consumers within three business lines (more in our WP). Second of all we combine AI with Blockchain do delvier our solutions. Third, we are the first ever project to be regulated as a Virtual Financial Asset in Malta -a fully regulated crypto offering supervised by Grant Thornton and Malta Financial Services Authorithy. We are now in the process of developing our first business line, the AI Sales Assistant, with beta already distributed for closed testing (we have around 50 testers from the community now). We have designed a proper token economy to support our solutions and incentivize users to use them. We worked togheter with IBM on our PoC for business line 1. We invite you to view our website, see the explainer videos and consider our main goal the AI Legal Assistant!
Mary | Satoshi Club
He definetly have magic hands.. no matter how it sounds
Jakub Kobeldys
I guess you know it firsthand :japanese_ogre:
Mary | Satoshi Clubadmin
You’re like a father of this project, sure you will explain a lot of things today:+1:
APawelVAIOT
shouldn’t open this pandora box…my bad :joy:
Mary | Satoshi Clubadmin
Lol :joy:
Thank you, guys for this great intros and i think we can start with the questions from our community :+1: :grinning:
APawelVAIOT
Let’s do it
Mary | Satoshi Clubadmin
Prepare your fingers
D. | Satoshi Clubadmin
let’s gooo!
Q1 from Telegram Username @reinleoken
How do we get VAI token? Or is it only users of the platform for that are given VAI token as rewards?
a small question but so important:wink:
Michal Szachno
VAI Tokens are offered through IVFAO (Initial Virtual Financial Asset Offering) meaning it needs to be officially distributed to the broader audience in form of a Public Sale by design. You’ll be able to buy VAI Tokens in the Public Sale that is planned for Q4 2020/Q1 2021. Tokens are also distributed to the community for their engagement e.g. ongoing support for the beta testing of our AI Assistant. :stuck_out_tongue_winking_eye:
Mary | Satoshi Clubadmin
So, you will have just Public Sale or Private Sale also had place?
Michal Szachno
We already have had Seed Sale as well as regular Private Sale. Currently we are preparing a Public Sale for the community.
D. | Satoshi Clubadmin
can people get your token doing some social tasks? like writing articles for you, for instance?
APawelVAIOT
We consider beta testing a social work
and we have something planned in the Marketing Department as well, but Daniel will elaborate on that
Daniel
the marketing department is planning a social rewards program for the future. Meaning that we will reward people for engagement and certain taks?—?this could also be writing an article for example
D. | Satoshi Clubadmin
very nice!
Mary | Satoshi Clubadmin
Thank you guys:grinning: i see all have opportunities to get VAI tokens!
Ready for the next question?
APawelVAIOT
Sure
D. | Satoshi Clubadmin
Q2 from Telegram Username @dustyllanos
How much of an assurance that the VAIOT’s AI Lawyers will not fail or will not be manipulated by a human intervention?
Michal Szachno
In VAIOT, AI algorithms are depolyed on-chain, it guarantees the immutability and does not leave the room for the unnoticed manipulation. The only human intervention in the process takes place during supervised learning. Blockchain is all for transparency and not let any manipulation go without a notice. That’s one of main reasons why we combine those two technologies together
APawelVAIOT
Well, first of all, we base the AI Legal Assistant on the verified legal database, delivered by our partners and law firms (known globally and locally). And as you know AI requires huge amounts of data to be properly trained and developed. The assurance you seek lies in the professional knowledge of our partners delivering data and the learning capabilities. The AI Lawyer is only as good as the data it has received and we make sure the training data sets are of best quality we can deliver. When it comes to manipulation by a human intervention?—?well as the contract code is created by the AI through highly automated processes based on quality data we minimze the chance for manipulation. And since the AI always can be manipulated in a way we had blockchain to fill in that part and do its job.
Mary | Satoshi Clubadmin
Can you give us your partners names?:grinning:
Yes, it’s a good reason :+1:
APawelVAIOT
Sure we work closely with Grant Thornton which a renown consulting company with huge legal and compliance depertments globally + we work with smaller law firms locally like for example Hance Law Avocats in Luxembourg. We also work with research bodies such Maltese University. We have few other partnerships in negotiations right now.
which is*
Daniel
A detailed list of our partners can also be found on www.vaiot.ai
Make sure to check it out :point_up_2:
D. | Satoshi Clubadmin
solid partners! :+1: thank you for answers! very informative! are you ready to jump to the next question?
APawelVAIOT
yes please !
Michal Szachno
YES
D. | Satoshi Clubadmin
Q3 from Telegram Username @PaoloMonte87
I know that VAIOT is now undergoing the beta testing phase and interested people can ask for beta access. How can I request to be part of the beta testing? Are there any requirements to join? What kind of feedback will you require from beta testers? And finally what are the other advantages for beta testers, other than the exclusive, full hands-on preview on VAIOT’s inner workings (which I believe will be already an extremely rewarding experience) ?
APawelVAIOT
That is true. We have selected a group of people from our community to test our solution’s beta. We have some researchers, blockchain experts and enthusiasts, business-oriented people, and people working for different companies that want to implement VAIOT into their business operations testing the app. There is still a “Request ACCESS” button at www.vaiot.ai but we currently closed the first round of applications for beta testing. We still encourage you to sign up as we are planning to reopen the application process in the near future as new functionalities will come alive and they will require testing. In terms of feedback we have a BETA TESTERS MANUAL ready which shows exactly how you should give the feedback. We are looking for bugs, ideas for potential improvements and potential, future functionalities. Other than being able to play with VAIOT and get to talk with the guy as a Beta Tester you’ll get rewarded with VAI Tokens for participation and best testers are rewarded with some decent rewards in VAI Tokens.
Mary | Satoshi Clubadmin
How your testing is going? Did that guys you already selected help you?)
APawelVAIOT
Oh a lot. We already had two rounds of feedback and retests. We have a old-time xls file shared with beta testers community that shows the progress on their ideas and suggestions (and bugs that they found of course:)). We already got some decent feedback regarding the app + we already have some good sugesstions for future development, and we really appreciate that !
Mary | Satoshi Clubadmin
Amazing! It shows that you are moving in a right direction!
Ready to go forward to the next question?)
APawelVAIOT
nothing better than the feedback from the community
sure
D. | Satoshi Clubadmin
Q4 from Telegram Username @Jonahapagu
VAIOT happens to be the first company regulated under the Maltese Virtual Financial Assets Act and you also carried out an IVFAO (Initial Virtual Financial Assets Offering) in adherence to the provisions of Malta’s regulatory framework… This shows that VAIOT is highly committed to being regulatory compliant.. what other regulatory compliances will VAIOT be pursuing and for the IVFAO you carried out can you tell us how the involvement of regulatory compliance has affected the outcome of the initial offering of your Tokens.. in other words was the success of your Initial token offering impacted positively or negatively by this…
APawelVAIOT
Highly commited. Right from the start we were looking for a regulatory framework. We know how important it can get these days, especially with AML/CFT matters. Well we are actually still in the middle of the IVFAO?—?so it is far from being done;) The Public Sale is ahead of us, planned for Q1 2021 and IVFAO is not done until Public Sale is done;). We invite everyone to join and get your VAI Tokens which are now Virtual Financial Assets. What we know already know is that through the regulation we are put under a lot of pressure in terms of proper KYC for AML/CFT, we are closely monitored, watched and audited. We have the AML watchdog looking at as all the time! This affects the sale processes operationally but it ensures that we are crystal clear in terms of AML/CFT and we offer credibility to our investors. All our actions are closly watched so we need to deliver what we promise. We already see a postive impact of beging the first regulated VFA project, we get a lot of postivie feedback from the community with people saying “that’s something I’ve been waiting for”. We also get more interest from institutional investors and private investors as they often require a degree of regulation and control.
To add to that the regulation required a professional business plans, including long-term financial forecasts; it required security audits, both ISO 27001 and code audits, it requires financial audits as well; and it also means that our Whitepaper was closely analyzed from every possible angle by MFSA and our VFA Agent Grant Thornton
Mary | Satoshi Clubadmin
On which stages KYC for your users, members will be required? For Sale, for testing to get tokens, right?
D. | Satoshi Clubadmin
great! looks like you doing everything right in every possible way :smiley:great work!
APawelVAIOT
Sale only and then in the application itself when you want to make more significant transcations
basically when we accept funds in exchange for VAI Tokens we have to do proper KYC
both for Private Sale and Public Sale investors
Mary | Satoshi Clubadmin
Thank you:grinning: ready for the next question?)
APawelVAIOT
Sure:)
Michal Szachno
:ok_hand:
D. | Satoshi Clubadmin
let’s continue!
Q5 from Telegram Username @cattlewhat
From what I’ve seen on your platforms (Telegram, Twitter, Youtube) you look like a pretty organized and well-managed project. I didn’t like though that you give very little numbers. Can you tell us how many people are testing now your platform? What is the feedback they give? Are there any customers that already use your assistant? Some real figures would help. Otherwise looks like a great project!
i think this question was partially covered:smile:
APawelVAIOT
Partially yes
let me cover the rest of it
APawelVAIOT
First of all, this is noted
we’ll definetly try to show more numbers
We have around 50 people from the community testing the app in the first round of beta testing + we have both internal and external professional testers that do the job. The feedback is that they like what they see but there are some sugesstions and ideas for improvements and new functionalities which we analyze. Really good ones to be honest?—?that is why the strenght of every app dev project lies within user feedback. We have a pilot implementation for one client in Europe initially planned for early next year (I can only say it will be a VCommerce) + some ongoing coversation with two companies from insurance and HR sector. We will look more into giving you more numbers with future project development
Mary | Satoshi Clubadmin
Great:+1: i see that you are not going to stop!
APawelVAIOT
lots of Duracell batteries attached to our backs
D. | Satoshi Clubadmin
by the way, when do you approximately plan to reopen next round for testers? when new testers can join your program?
APawelVAIOT
Planned for Q1 2021, after the public sale
Mary | Satoshi Clubadmin
Thanks, let’s go to the 6th question?)
Michal Szachno
Can not wait
D. | Satoshi Clubadmin
the last question from this part!
Q6 from Telegram Username @olivvc
I saw that you are putting forward a lot your affiliation with IBM (which makes sense). Are you an official partner of IBM or you’re just using their IBM Watson technology?
APawelVAIOT
Well, it is not just a logo on our website. We did a joint Proof of Concept project with them, our development teams worked togheter for few months. We worked on two examples of VAIOT AI Assistant, first one C2C transcation for selling a car between two consumers and the other one was the one that we develop further so the Assistant for an insurance company acting as an Intelligent Sales Channel. We were invited to some IBM conferences as speakers and we are now preparing a joint approach to clients (IBM Sales team will approach clients with VAIOT AI Assistant). But yes of course, we are using Watson technology as well.
Daniel
@olivvc
you can also check out @APawelVAIOT speaking at the IBM Data & AI Virtual Forum
He is talking about our cooperation with IBM there as well.
YouTube
VAIOT speaking at the IBM Data & AI Virtual Forum
VAIOT and IBM talked about our partnership on 23.06.2020 at the IBM Data and AI Virtual Forum Poland, where our COO?—?Pawel Andruszkiewicz?—?was inter…
[Video]
D. | Satoshi Clubadmin
thanks! another great youtube channel to subscribe :+1:
Mary | Satoshi Clubadmin
I am collecting such videos to watch:+1: thank you!
D. | Satoshi Clubadmin
and now guys are you ready for the second part of our AMA? :grinning:
Michal Szachno
Let’s get it rolling!
Mary | Satoshi Clubadmin
Let’s go :rocket:
Part 2?—?live questions from the Telegram community
D. | Satoshi Clubadmin
@daniell1337 @szachnom @ba1ciu @APawelVAIOT we will open chat for 120 seconds, our community will ask you some questions, after we close the chat, kindly select 10 questions from Satoshi club members!
Q1 from Telegram user Jake Micheal
The beta version of VAIOT is done. We can request access and join our closed beta testing community.
We can send you our comments, remarks and ideas and most active testers will be rewarded with VAI Tokens!
Who can we contact so we can become one of testers and get reward for doing it and can you explain what can be reported so people don’t do fake reports?
Daniel
Hey Jake, thanks for asking.
You can simply request access to join the beta on our website > https://vaiot.ai/
We will review your application and send you further instructions via e-mail.
Feedback is collected in a joint telegram group.
More information can be found in our medium article as well > https://vaiotltd.medium.com/closed-beta-testing-is-live-9d8ee3f34bd1
Q2 from Telegram user Jones Kene
We are a company with real business models, offering solutions that answer real business and consumers’ needs” What consumer need is your models solving? What real life solution does VAIOT aim to bring?
APawelVAIOT
Our business line 1 consists of the portoflio of Intelligent Virtual Assistants designed on a case-by-case basis for companies to offer it as an Intelligent Sales/Communication for their customers e.g. insurance companies for sales of their insurance products or HR companies for onboarding and recrutiment processes. Our business line 3, which is a B2C/C2C solution, the most important thing for the crypto community, aimes at develiering the increased availability of legal services, especially contracts created by AI. Nowadays when you want to rent an apartment, prepare a will or testament you either take a free template from the internet that lack quality or you go to a lawer which makes the process expensive and long. VAIOT will allow people to generate contracts immedietly, and especially when there is a transcation in place it will have its digital representation on the blockchain. You can rent a flat with AI preparing the agreement on the spot, and you can finalize the transcation within the app with the landlord, you can even schedule your monthly payments. Moreover we strive towards our AI Legal Assistant to be able to analyze various agreements for the users highlighting possible threats, actions to be done according to the contract etc. If you look at it from a wider perspective we basically answer the global trend that pushes people towards obtaining products and service through digital channels?—?especially important in the COVID times. People want to do more via digital channels and we allow companies and consumers to get things done via intelligent channel using AI. + we add another digital, intelligent service distrubtion and communication channel for our clients in the B2B solution; a way to reduce operational costs, automate and optimize processes, increase sales and UX.
Q3 from Telegram user 0$4l
You have planned the presale in Q1 2021, ?How can you participate in it?.
Daniel
We will release more infos soon. In general I can say that it will be like any other regulated community sale! Same procedure and experience.
Do you want to be the first to get updates on the sale?
Make sure to join our telegram group https://t.me/VAIOT_Community and follow us on twitter as well https://twitter.com/VAIOT_LTD
Q4 from Telegram user Paolo Monte
I went through the Whitepaper and when, at page 94, I noticed VAIOT employs the ERC-777 standard for developing on the blockchain, I have to admit tears of respect almost came down from my eyes.
To make a long story short and comprehensible for anyone who might read my question (if selected): one of the biggest issues an ERC-20 Token has is that it lacks event triggers that notify users of the transfer of that token from a wallet to another (such transfer does not actually occur instead what’s changed is simply the owner of the token inscribed in the blockchain).
While the ERC-777 manages to solve this issue, to my knowledge it has an inherent drawback related to this same event trigger functionality and the way a recipient’s smart contract is designed: as you know the recipient smart contract mostly lacks the function to listen to such transfers and almost no-one designed smart-contracts contemplating this functionality. On top of that, ERC-20 smart contracts aren’t upgradeable either, meaning that up until today most of them can’t be ERC-777 compliant.
So, here’s my question: given the common call for interoperability and composability, and the widespread utilization of the ERC-20 standard, will you still manage to integrate ERC-777 with the existing legacy ERC20 contracts and protocols? And do you think the benefits of this choice will be captured by users and reflect positively on VAIOT as well?
Jakub
Technically speaking, ERC777 is implementing ERC20 standard, so our token can be used by calling both IERC20 and IERC777 functions. Your doubts are probably related to IERC777 send method, which indeed needs recipent to implement tokensRecevied function, which in turn is not possible with legacy ERC20 contracts as you stated. Still, we can use IERC20 approve and transferFrom functions to use our tokens with ERC20-only compatible contracts. So yes, we’ll be able to use our token just fine with every ERC20 contract
As for the benefits of using ERC777 over ERC20?—?you already explained them
I think it depends on the user?—?techy ones just as you will surely appreciate our choice and others who don’t dive so deeply into technical matters will still benefit from increased security of ERC777 :blush:
Q5 from Telegram user Ho-jin
How do you feel being the first startup to be regulated under the Maltese Virtual Financial Assets Acts, how were you able to achieve this?
APawelVAIOT
Oh man. That process took us nearly a year. Exhausting with all the checks on multiple levels by multiple organizations. KYC checks on the Team and the company. Whitepaper reviews and approvals, audits of all kind. Lots of preparations of various business plans and forecasts, but we feel really happy now as we did it as the first company. It was celebrated by many people from Malta on twitter, including their Minister for Financial Services
We feel really good as it opens up a new quality in crypto projects in Europe with the big EU regulation coming in soon. So we are actually a bit ahead of the competition, and our investors love it
Q6 from Telegram user Tuvalunia
Is your AI system still learning by user interactions or is it finalized?
APawelVAIOT
The fact with AI systems such as VAIOT is that learning never ends
the development process is a constant process
Our dev team is constantly looking to improve the models. We are constantly looking for new data sets. We need more and more users to test and interact with the technology as VAIOT is getting better with each user. That is why we invited people for beta testing and that is why we are planning to get more people from the community on board, and all we can offer are VAI Tokens right?
Q7 from Telegram user Nick Deon
Is VAI a high-priced token to buy or is it still affordable for new crypto users?
Daniel
The VAI token price is 0.1€ at the pre-sale.
The initial marketcap will be below 800k EUR.
So it is definitely affordable for new crypto users.
We will also release an article on the vesting schedules / lock-up periods for private sale investors, team and advisors.
Information on the VAI token distribution and different allocations can also be found on our website www.vaiot.ai (also answering @Sefirot998’s question here)
Q8 from Telegram user ??Ayhan
What does “VVAS” actually mean in your ecosystem?
Michal
VVAS is VAIOT Value Assurance System. It allows for the safe payment in VAI Tokens for the service required. Meaning the price peg is set for the time of transaction/contract so the user is not prone to the price fluctuations. That is usually the case with crypto payments as cryptocurrency prices are really volatile in comparison to the FIAT. We mitigate the risk of undesirable changes in price during the execution of the transactions if user decides to use VVAS, cheers!
Q9 from Telegram user Md Shahid
COVID-19 is one of the biggest problem in this time.did COVID-19 effect VAIOT also? If so how did you guies overcome the situation or still trying to solve this problem?
APawelVAIOT
COVID-19 is changing the way businesses and consumers accross the world. It changes the way we buy products and services and how we interact with companies and institutions of all kind. It actually strenghtens the need and expectation from the society to get more digital, intelligent channels for service acquisition and communication. This trend, which already existed pre-COVID, is now getting stronger. VAIOT actually brings another Intelligent Service Distrubtion Channel for the business and the consumers, we actually get more inquiries about our solutions now as some of the companies need to quickly adapt to changing market requirements and customer expectations. We work remotly so we didn’t have any operational issues. Our dev is 100% rolling
Q10 from Telegram user Gutierrez04
I understand that initially the VAI tokens will belong to the ERC20 chain of ETH, and that they will soon be reflected in the cosmos chain, right? but can you really pass all the tokens of a project from one chain to another without any problem? or will there be some tokens in ERC20 and others in Cosmos?
Jakub
So, VAI tokens are part of the Ethereum network, just as all other ERC20s. The thing with migration to Cosmos is that we’re gonna deploy a permanent relay between our chain and Ethereum, so yes, we already got reflecting of tokens on other chain covered
There won’t be any imbalance between chains. All the operations made on Ethereum will be mirrored on Cosmos and vice versa. Of course making transactions directly on our chain will be more profitable than on Ethereum, because we have mechanism ready to reduce fee when you use our chain’s dedicated interface, instead of Ethereum’s
Daniel
I have seen many questions that can easily be answered together.
What you can find on our website www.vaiot.ai :point_up_2:
– access to the BETA
– download our whitepaper
– why invest reasons
– infos on the token distribution
– general infos on VAIOTs technology
– list of our team
– list of our partners
Our sale will take place in Q1 2021!
Updates and more infos will be first released on our social media channels
Twitter: https://twitter.com/VAIOT_LTD
LinkedIn: https://www.linkedin.com/company/vaiot-ltd/
Facebook: https://www.facebook.com/VAIOTLTD
Telegram: https://t.me/VAIOT_Community
VAIOT (@VAIOT_LTD) | Twitter
Part 3?—?Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru
Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/
Our partners:
Twitter: https://twitter.com/VAIOT_LTD
LinkedIn: https://www.linkedin.com/company/vaiot-ltd/
Facebook: https://www.facebook.com/VAIOTLTD
Telegram: https://t.me/VAIOT_Community
VAIOT (@VAIOT_LTD) | Twitter
