In this Telegram AMA recap, you’ll find insights about the DEVITA project. In an event hosted by Iris from MEXC, you will meet Eric Choi, Co-Founder of DEVITA.
Eric: To start, let me give a brief introduction about myself.
I’ve been in the crypto space for about 7 years now. I’ve consulted for over 50 projects and currently sit on the advisory board of about 5 projects.
My previous experiences include consulting in product development, market entry strategies, blockchain technical artchitectures for large and small scale projects.
If i can add more, I’ve co-produced the first 2 seasons of the world’s first blockchain survival TV show Blockbattle: who’s the next Satoshi?, which was partnered with OKEX, Huobi, Neo Global Capital, Ontology, Bitgo (Will Obrien) and so on.
Questions about the DEVITA project:
Iris: What is DEVITA? Can you share with us more in detail?
Eric : Sure sounds good
Well, DEVITA Global can be described in many ways… But the identity of DEVITA is found in its name. De Vita literally means ‘about life’ in Latin. So DEVITA is a project about life.
Our vision stems from the belief that all humans are driven by and have a right to the preservation of life. Our team members come from a myriad of backgrounds, from developed to under developed nations around the world. One thing we saw in common was that the legacy healthcare system has been suffering from systemic inefficiencies for years. These are inefficiencies which were made even more apparent during the global pandemic.
I’m sure we’ve all had experiences in the current physical infrastructure of healthcare, which lacks the ability to reach a greater number of people, potentially missing the opportunity to save lives or preventing debilitating illnesses. With the advanceement of technology we see today, these inenfficiencies in data mismanagement and data inaccessibility are simply unacceptable.
DEVITA aims to be the first economically sustainable solution to these issues globally in pursuit of providing people one more tool to pursue LIFE.
HOW we do that is by tackling several sectors..
- Global Healthcare Infrastructure.
- Data Privacy.
- Data Access.
- Data Democratization.
- Private Health Information.
- Financial Literacy.
If I can elaborate more, DEVITA is a digital health services platform amalgamated with a decentralized health record management protocol.
The core functions of that platform are
- Telehealth services with end-to-end encrypted messenger, including voice/video call functions
- Decentralized identification (DID) through ONE ID
- Decentralized health record database
- Decentralized data marketplace based on an auction system
- Fully on-chain governance to decentralize the entire ecosystem
Iris: What triggers you to launch DEVITA? What are DEVITA’s unique selling points as compared to other similar projects in the industry?
Eric : I would have to say the exciting thing about DEVITA is that in addition to our vision, DEVITA, when viewed from a different angle is A LOT more than just a healthcare infrastructure project.
DEVITA is actually a Data Sovereignty play.
Our DID infrastructure that relies on DLT tech allows users to have true data democratization.
These componenets fortuitously fall into healthcare, where data is most heavily regulated and most valuable.
Due to the covid pandemic, the global markets were slapped in the face with a need for vast improvements in healthcare infrastructure by existing technologies.
Our stars aligend also with our partners at Gerege Systems, who have 91% market penetration in Mongolia, where they have a monopoly on PCR testing databases and vaccination systems for the government.
It became crystal clear that we could take an immediate problem by the horns. So, instead of doing the classic ‘product-market fit’, we found our position as a ‘market-prodcut fit.’
In terms of our competitive edge in the market against other projects, We have many. DEVITA launches as a functional product with an iOS and Andorid App, which is currently in closed beta testing. Our global team is based in over 5 countries spanning Mongolia, South Korea, India, Canada and the U.S. Our core development team consists of 27+ developers with gold medalists in national programming olympiads, 3 medalists in mathematics olympiads and the brightest minds in Mongolia. We have 7 business development and operations managers as well as 10+ global marketing team, all experienced in the crypto market. DEVITA officially listed on Flybit, one of the few FULLY licensed centralized exchanges in South Korea since stringent regulations and processes have been enforced by the Korean FSC. We were reviewed by an officially designated board of reviewers which included members of the Financial Investigation Unit along with the Flybit Listing Committee. We are extremely proud to be the FIRST project to have successfully passed this vetting with flying colors. Needless to say, we have also listed on MEXC, and have successfully completed trading competitions and are continuing to grow our partnership! MEXC x DEVITA FTW!!
Iris: What is the role of the $LIFE (listed as LIFEX on MEXC) token in DEVITA? Would you tell us more about its tokenomics?
Eric : The LIFE token is a utility token with many in-built features that can be transacted outside of the DEVITA platform ecosystem. This is the digital asset that would be listed on any centralized or decentralized digital asset exchanges.
The LIFE token has numerous utilities such as tokens that may be collateralized to mint ecosystem stable-coin in order to transact with-in-app services or payment transactions.
- Fully on-chain protocol governance
- Delegation of votes
- Inter-ecosystem transactions
- Cross-chain bridging
- P2P payments
- DAO Participation
In addition to these, we have a fully decentralized on-chain governance known as the DEVITA DAO, which is set to launch within the next few months.
Our UIUX and dev team has created an extremely beautiful user interface and experience.
Its user-friendly functionalities allow for governance to control virtually every part of the token ecosystem from lock-ups, grants, marketing budgets, various ecosystem funds, staking pools and even product updates.
The governance protocol is run through proposal and approval processes which were inspired by the Metacartel Venture DAO and Compound’s governance systems.
Frankly, we unabashedly aim for what we see to be the digital continuity of true capitalistic democracy at a global scale on-chain.
Iris: Are there any exciting news or updates with regards to DEVITA that you would like to share with the users?
Eric : Absolutely.
There are many we cannot wait to announce. The team is extremely happy to see all our hard work and sleepless nights finally come to fruition. Although we cannot share all our upcoming news currently in the pipeline, there are some we are excited to share.
The most eminent event is that in a few days, DEVITA will be attending the World Blockchain Summit 2022 in Dubai as the Official Platinum Sponsor.
Be on the lookout if you’re there!
Eric :In terms of the roadmap ahead,
We are planning to launch the open-beta of the DEVITA mobile app within Q1 of this year which is available to support Android and iOS devices.
We will also announce multiple partnerships and co-developments with companies like Bodi Insurance (the #2 insurance company in Mongolia) and more partnerships with legacy institutions.
In the crypto community, co-developments with Polygon, Chainlink, and much more are upcoming. We are also set to onboarding at least 4 million users to our ecosystem before this time next year.
We have been operating in stealth mode, but to draw back the curtains a little, our community governance is also set to launch in the next coming weeks.
But To answer what most of our members here would be curious about
We have lined up 5 more CEX listings within the next 6 months.
Included in these are two Tier 1 Listings.
As usual, details cannot be disclosed, but there are definitely exciting news brewing.
We are also in the process of bridging our ecosystem to at least 4 other layer 1 infrastructures before the end of the year and launching our staking pools in Q1 as well.
Iris: If you were to summarize your project in ONE word, what would it be? Why?
Eric : That’s a hard question
But if i had to, it would be DEVITA ^^
As mentioned, none of what we are doing would have any meaning without the preservation of life. By pursuing a singularly meaningful vision, our global team, which is a motley crew of vastly different individuals, is providing a platform for individuals to enrich their personal lives.
In the end, we are creating a simple tool, using what we know best and believe to be the best solution, which we hope can provide at least a chance for people all over the world to better their lives just a little bit.
This, simply put, is achieved by the Data Sovereignty DEVITA provides for our users along with the tech stack it is built upon.
In the grand scheme of things, we were fortunate enough to have all the right tools, people, timing, and technology to embark on this great endeavor.
That is what DEVITA Global is all about.
Q1. Many projects have problems with UI / UX and this one turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?
This is actually a great question. As you pointed out, the threshold for utilizing blockchain technology is still extremely high.
Ultimately, the UIUX has to be welcoming and seamless. That is why we focus on the design and UIUX of our products A LOT more than other projects on the market.
Q2. Do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?
Our transaction fees and taxation systems have an automated burn feature which make our tokens a deflationary supply. This feature is automated of course.
Q3. Staking, NFT is very hottest, do you think you will apply NFT technology to your products in the achieved future?
Yes. The ONE-ID feature of DEVITA is a DID service in the form of an encrypted NFT. The current market only understands NFT’s in its most simplest of forms. But NFTs such as the ERC-1155 token standard is much more complex and sophisticated. We are utilizing NFTs to their full functionality.
Staking will also be available through our Governance in a few months time through the DEVITA DAO.
Q4. On your website you don’t mention that you have done any internal or external audit of your smart contract, so can you give us details if you have done any audit before? And in case you haven’t, would you plan to perform any review of your smart contract in the near future?
Certainly. CERTIK has audited our contracts.
Data sovereignty for the user means we prioritize data privacy and security more than anything.
Q5. I am interested to invest in your project. When and where can I buy your tokens? Is it already listed exchanges?
At present, we are listed on Flybit and MEXC.
For our global community, LIFE tokens can be purchased on MEXC as (LIFEX). We are on track to list on 5 more centralized exchanges in six months.
As mentioned, included are also one or two TIER 1 listings.
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