In this Telegram AMA recap, you’ll find insights about the Concordium project. In an event hosted by Mia from MEXC, you will meet Sigal Biran-Nagar, VP Marketing of Concordium.
Introduction:
My name is Sigal and I am VP marketing here at Concordium
I joined Concordium about 4 months ago, mostly because we all know about blockchain, but I think Concordium is doing something really special in this domain, and I wanted to be part of that.
Thank you for joining me today.🙏
Questions from community:
Question 1:
Mia: What is Concordium? Can you share with us more in detail?
Sigal: Oh wow! How much time do you have? 😄
So we are the first layer-1 blockchain with ID layer built in at the protocol layer. What does that mean for you?
Well it means 2 things really:
1) that we can harmoniously balance between privacy and anonymity in the metaverse
and
2) we can help those apps running on top of us to be regulatory compliant. Which is so important as regulations and compliance requirements increase.
As we all know, compliance is coming to cryptocurrency – it is just a question of time.
So if you are looking for longevity – I suggest you build on a chain that can ensure compliance going forward.
Or else …..
But that isn’t all
We work hand in hand with some of the best cryptographers in the world ITU, India University, Copenhagen university and even the University in Zurich…..
We have a 2 layer consensus mechanism which prioritizes finality alongside transaction speed – which means that when a deal is done it’s done
No roll backs
We are great believers in stable, predictable transaction fees. We got a system to ensure that no matter what, for the same types of transactions you will pay the same. In euro terms
Last but not least we are probably one of the most sustainable proof of stake blockchains out there
Question 2:
Mia: may I know what triggers you to launch Concordium? What are some of the real-world problems/ pain points that Concordium aims to solve?
Sigal: So the backstory is actually interesting.
….. So Concordium was set up in 2018 -2019 by Lars Seier Christensen who was following blockchain but couldn’t find what he was looking for😜
Story has it Cardano invited him to dinner and offered him to join their network.
Lars said – no way Jose. Bless him🙈
Lars came home from dinner and wrote a manifesto. He asked himself : 😳 What was missing he thought in this world of layer-1 blockchains?
1) Regulation was coming. Uh huh! That he knew from his time at Saxobank. Yes it was coming and regulators worldwide would not leave blockchain alone – too much at stake. Too much money to lose
2) Science needs lay the foundation for all the developments in the blockchain. Funnily enough there was a big division between cryptographers/phy and the blockchain industry.
3) Sustainability is key!
4) Those transaction/gas fees need to be more predictable, and stable!
From this he wrote his manifesto and the rest is history!
Mia: Thank you telling us the story! it helps us know more about the history of Concordium~
Mia: just curious, how is the relationship between cryptographers and the blockchain industry like today?
Sigal: yep
Well I think there is still a bit of a gap. Lars Seier is known as saying that it is distressing just how little the science is laying the basis of the blockchain industry. He of course, has more insights than I into this. But according to him… well you would be appalled. 🧐
Question 3:
Mia: What is the role of the $CCD token in Concordium? Would you tell us more about its tokenomics?
Sigal: Ah yes, our token…… $CCD!!
Sure so CCD is the native token of the Concordium platform, it is key to interacting with the blockchain. It can be used to pay transcation fees
baking and validator fees
For us, we believe that having stable, low and predictable fees is key to interacting with our network
That is why a basic transaction is priced at 0.01 Euro
With an emphasis on Euro
Yes folks our transaction fees are pegged to the Euro
So anytime you ar interacting with the network, you know how much it will cost you in fees.
The CCD token will also power the vibrant ecosystems built on Concordium, with a special focus on Regulated DeFi, Decentralized Fintech, and innovation….. So imagine the world of DeFi taking off with a bunch of CCDs in it
We have just listed this year, and our token is tradable on a number of exchanges, including here at MEXC! yippee!!!
Question 4:
Mia: Are there any exciting news or updates with regards to Concordium that you would like to share with the users?
Sigal: Hmmmm… so let me think…..
To be honest, we are a relatively new blockchain. I mean after launching our MainNet less than a year ago, it’s been an absolute wurlwind. Or however you spell that word😆
We established our community within that time, and today we comprise a group of near 300K worldwide. Not bad for such a new player in the market I think.
As I mentioned, we listed for the first time in February this year, and today we are listed on four exchanges – with some big names and exchanges to come!
We continue to invest in building our our blockchain capabilities including partnering up with some of the best cryptologists in the world, as I already mentioned those universities in India, Denmark and Switzerland.
We are working hard to continually expand our community and ecosystem
In terms of news: 1) We are on the brink of our next tech release which is called Sirius. Which will add a number of important capabilities to our chain, including delegation. You can find out more about our roadmap here: https://www.concordium.com/roadmap
We continue to invest in building out our community, because we understand that community is key.
So if you know anyone who wants to be an ambassador – let them know to keep an eye out on SoMe
We are continually adding new use cases to our portfolio. I mean our ID is our wedge. To use our blockchain the user need to be IDd first.
Think of all those places where you need to know who it is you are transacting with. There are so many places
where knowing who is behind the transaction is important.
But the ID information is not stored on chain.
Wo we uniquely balance between privacy and accountability
Think about all those use cases where this might be important. Think DeFi, think digital IDs, think B – I – G!!!!!!
Last but not least, we continue to add additional exchanges which will enable us to be traded wider and farther than we are today….. So more can trade, utilize and build on our blockchain
Question 5:
Mia: If you were to summarize your project in ONE word, what would it be? Why?
Sigal: Hmmmm…… 1 word is hard. Can I do 2?
How about an enabler of trust?
Oh no, wait that is 3😞
But we are. I mean just think about it.
Everything in our lives requires trust.
Buying, learning, talking.
In the past, we could look one another in the eye and, well understand, who it is we are interacting with…..
Now, with digital, web3, and the metaverse – we can’t.
We meet people on line.
Using their name, or a psudonym. And we have absolutely no idea who is behind them.
I don’t have to tell you haw people act when they think they cannot be found out.
I mean – accountability – out the window.
We’ve all heard about people taking over other peoples identity. Right Tiger Woods any one?
And what about cyber bullying? Fake news, and all the rest?
What about the Tinder Swindler? Must I go on?
In our world – we have scams and scammers in every group. Ever have a scammer ask your audience for money?
What about NFTs? How many have been scammed there?
And the list goes on.
We must have accountability.
Even @ElonMusk talked about that this week.
The need to authenticate twitter users.
Of course he was worried about the bots
But I am worried when I provide my details. Aren’t you?
With our unique IDentity stamp – every user can be held accountable for their actions.
If ordered by a court of law, a users identity can be revealed
I know that
You know that.
And they know that.
Studies have shown that it is enough for users to know that their identity can be revealed to act differently.
And we need that
Wo our network?
We bring trust, responsibility and accountability to the metaverse.
And B – A – M! Done
Free-asking Session
Q1. I am interested to invest in your project. When and where can I buy your tokens? Is it already listed exchanges?
Sigal:
Hi @StarPaulsen you can buy or trade our tokens here: http://www.concordium.com/ccd-overview#where-can-i-buy-ccd
Q2. @SigalBiran 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐏𝐑𝐎𝐉𝐄𝐂𝐓’𝐬 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 𝐦𝐨𝐝𝐞𝐥? 𝐈𝐧 𝐰𝐡𝐢𝐜𝐡 𝐰𝐚𝐲𝐬 𝐝𝐨 𝐲𝐨𝐮 𝐠𝐞𝐧𝐞𝐫𝐚𝐭𝐞 𝐫𝐞𝐯𝐞𝐧𝐮𝐞/𝐩𝐫𝐨𝐟𝐢𝐭? [2552]
Sigal:
Hi @kaceybobo1991 our revenue model, is simple:1) Baking the foundation also bakes, but out of the hundreds of bakers, we run only ~10 nodes. 2) transaction fees.
Q3. [2552] Do you have any plans to attract non-crypto investors to join your project? Because the success of a project attracts more investors who haven’t yet entered the crypto world. What are the plans to raise awareness about your project in the non-crypto space.
Sigal:
Ooh – I like this question. So beyond allowing our dApps to be compliant with increasing regulation, another thing our ID layer does, is ensures that all those corporations or businesses thinking about blockchain, but worried about anonymity can also use our blockchain. That means we have a business-grade tool, that companies sitting on the side lines up until now – will be able to use. So yes, absolutely. And I think the team we have in place – is the perfect one for such ventures.
Q4. How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?
Sigal:
Lots of ways to keep up with what’s going on….
Twitter: https://twitter.com/ConcordiumNet
Telegram: https://t.me/concordium_official
Discord: https://discord.gg/xWmQ5tp
Reddit: https://www.reddit.com/r/Concordium_Official
Developers Hub: https://developers.concordium.com/tech
Learn more: https://concordium.com
Q5. Currently a lot of people are looking at NFTs, metaverse, and games. Can you tell me what advantages will you have in this field future?
Sigal:
Hi. Yep big questions. 1) you know that the people you are interacting with have been vetted.
2) Everyone using the blockchain, can be identified, this will enhance accountability.
3) 1 digital identity to rule them all – from cradle to grave, in all your apps, all your creditcards, all your wallets
4) regulatory compliant.
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