CryptoBasic Podcast

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And so do you guys have an estimated date?

Karim:

More or less or a quarter? Should we see it this year?

Karim:

That the minute launch?

Mathias:

Yes, yes, it will be okay.

Karim:

Hello, everybody, and welcome to this edition of the crypto basic podcast.

Mathias:

My name is corinne baroque.

Karim:

And while you're listening to now is a part of our crypto convo siri's, i am very happy to introduce our guest for this evening.

Mathias:

He is the global development manager for ontology.

Karim:

Mathias.

Mathias:

Going for thank you so much for joining us today. How are you?

Karim:

Thank you, karim it's. A pleasure to do it. I'm very good. I'm very excited. Tio participate in this. I had a chance to listen to pre resembles short, which was a great stuff. So yeah, awesome.

Mathias:

So you know that the audience already has a general idea about what ontology is, but hopefully here will get to discuss, um, extra details. Eso why don't we start? You know, give us a general basic introduction about yourself and how you got interested in crypto currency and maybe how you ultimately ended up with ontology?

Karim:

Sure. Okay, so education wise, i have a masterpiece in mechanical engineering and finance business, so i'm not from i t background. But immediately after graduation, i jumped into a a in american fortune five hundred company where i was heading up in the practice in the nordics hall is located in in denmark, then started to explore bit the luxury and technology inside the company, and i had a change to build up some collaborations with universities and some small ideas about how to do assessments and potential proof of concepts and pilot projects. I was able to allocate resources to spend up like spin up resource is on the cloud and tried to utilize some of them for small consortium's off block change to see how it was really working and get my hands dirty, which notes consensus and so on. So i got really interested into that and i wass relocating to china with my current my period's company, and then i stumbled into some guy from ontology, and i wanted to go full time on blockchain, so it was kind of a perfect match, and, yeah, i left and joined ontology to go full time on election that's ah, fascinating shit, yeah it's quite recent, so i joined around three months ago and i'm big in shanghai everything's go teo so you went from artificial intelligence toe blockchain have you always been interested in game breaking technology or that was a coincidence you ended up in these fields those were pretty interesting fields to ah to be working in s o it wass definitely off interest that i jumped into it because as mechanical engineering, mechanical engineer and finance background you would expect me to going to some new product development maybe some financial engineering stuff like that but i really saw some interesting stuff going on in the space especially i yeah andi i think the first thing which called mind my interest was the whole idea about robotics then later on i jumped into machine learning a bit more into the new networks, which is really some off the underlying ideas off yeah that's ah that's pretty fascinating stuff, man.

Mathias:

All right, so you're exposed to pretty cool technology so all right, the audiences you know has got a general introduction to the project, but why don't you give us a description from your perspective?

Karim:

Maybe possibly describe one ontology is trying to accomplish and what sets it apart.

Mathias:

Okay, so often when i have to describe what is scientology, i call it a public block change with a new architecture and a public platform for distributed trust ecosystem so that's like some off the the sentence is you'll find in a white paper on enough and so on, but i think it's it's quite spot on and what what is really important to see here is that we have blocked change instead ofthe rock chain, so we're not running on a single change.

Karim:

We are running several chase ourselves what we also give the opportunity for organizations, industries, people, teo, really build their own chase and connect into the network.

Mathias:

So that's also why we talk a lot about the on the trust ecosystem, because while we have our own chain and people, they will start to build their own change, we will kind of see ontology as the umbrella reaching out to a very diverse sets off chase, which will make of this.

Karim:

And things were important to say that in ontology, we don't try to solve it particular business problem, we are the provider off the foundational infrastructure.

Mathias:

We are also that the provider off tools, modules and protocols for all the participants in this infrastructure to connect with each other to verify identities across the chain also transferred data for the change.

Karim:

So, again, one off the hot franks with say, is we want to build a reliable connection, and we really believe that we do that by allowing this high level of the customization, and they're easy framework where people easily can get on board.

Mathias:

So, mathias, why don't you actually explain why ontology has decided to take this approach of customizable and multiple block chains? Or, you know, why does ontology believe that a single public blockchain is not going to solve the problems that a lot of businesses air going to look to solve?

Karim:

Okay, so i would say this kind of two parts to this one thing is, when you operate on a single chain, you will face as certain you've a certain limits off customization. So let's say that you want to build a dia. When you really try to build low level customization, you will feel face on limitations on a single chicken and that immediately do to to the architecture and some standard fritz is written into these. The second thing is that we want to while operating on a single team is not you don't always have the opportunity to to do these custody since according to your compliance, so are your rules. And you know, it could also be your code of conduct in a certain business, so when we give them the framework to build wanchain himself, it could be a country or industry they can be compliant by applying their own law regulations s o alright.

Mathias:

That's ah, i think that explains it pretty clearly, and i did have a few questions that are somewhat related to neo. But before i do that, i just want to clarify again that ontology and neil are partners, but they're completely different projects. So why don't you define the relationship between neo and ontology for the audience? And then i'll follow up with my knee a related question.

Karim:

Okay, so we published an announcement around way worked to get up, and i think based on that it's, a bit more kia. I do understand why there were some confusions around it previously s so that the collaboration iss that way share some resource is for research, and we also share one manager. I would say so so dong is going across, which is very new, and wanchain and he's, also a bit advisor to ontology. But i prefer them, tio said, from the technology projects which complement each other where we have the new smart economy and we have the ontology ego system and mentality could reach out to a new and you're aware of all.

Mathias:

Right, so then the question that i was going to ask you and i don't know how much insight you have into this but one of the interesting things that ontology took from neo was two to token model where you are going to have a no anti token which produces oh and g can you tell us a little bit about maybe why you guys shows that model or what some of the benefits of that model are yeah so when you have a dual children model you have the security token which is twenty us and then you have the utility children which is twenty on ontology yes s o the idea about this is that then you have the security toe twenty in order to participate in the governance off a network so that would kind of be you you you share off this whole network and with that you could override the note you could also participate in in voting voting's which will go on in the network where's the mentality guess it's really that token that you used to perform the operations on the that well, so if you want to do some transactions you will pay twenty two do that and section i could also be to deploy your smart contract it will cost some some guests to deploy it will cost some guests to run the contract if it's off a certain size so for example, if a gn employer wanted to use ontology to verify my identity or if i wanted a idea sure i would usually pay them in on nong correct?

Karim:

Yes.

Mathias:

Okay that that makes a lot of sense and the no auntie would be reserved for like you mentioned governance bigger picture ah decision making about the ontology project itself.

Karim:

Yes.

Mathias:

All right, so meth i says we are talking about governments one of the few reservations we had during the ontology episode wass the possibility of centralization based on the structure and selection of d o nt counsel and we couldn't really find a lot of information.

Karim:

Do you have any information about how the council has chosen or how it operates since it's the foundation no governance of the project so so i don't have much information and it around that at this point and i think something which will be much more clear after the minute lunch oh, so it's something we might get more information on once ontology has actually launch is still in like the pre project stage absolutely on and it also goes a bit back to the that the twenty on the the governance idea because when you have a steak off twenty eventually you will participate in the governance and if there's some voting mechanisms for potentially a council or some council members, you could do it that way oh excellent and since you did mention the main net launch i know a lot of people are excited about it they're waiting about it.

Mathias:

What can you tell us about the progress that's being made and when we can expect to see that launch yes so just yesterday we had an external organization to do some testing i'm sitting here with the document us as we speak because he just got it yesterday that the translation from chinese twinkies when interested i v b ft algorithm i think that that's one of the key things off you are all mean it it's running and it's performing the translation for seconds that we wanted to do and the results they're quite good also had a i spoke with the detective and i know on the take side we are we are on time on just the one thing from this report i see that the test was three million transaction purse agains they send six thousand seconds over five hundred seconds they headed for the blocks and the transaction for seconds is just around five thousand five hundred oh so this apartment quick yeah that's going to be pretty big and so do you guys have an estimated date more or less or a quarter should we see it this year the minute launch yes yes it will be third if you and of you too so it's just around the corner fantastic.

Karim:

And i know one of the questions for a lot of people regarding the launch is going to be how to handle the migration of omt tokens into the main.

Mathias:

And i know a lot of people, maybe god, ontology during the air drop, and they want to know what they're going to have to do or what you know.

Karim:

What should they follow?

Mathias:

So what can you tell them?

Karim:

Yeah, sure, you're just one note.

Mathias:

Today.

Karim:

The main net launch way will do some some pre launch presentations around, but in generally we don't make too much noise around wth this minute, but it will be in effect, you two.

Mathias:

So about the talk you talk about the talking swap from correct.

Karim:

Twenty, which is currently on any p stand up, and you will have to convert it into anti native.

Mathias:

So we were published some announcement with a structure out to to do it.

Karim:

But really, what it's all about is that we have this twenty, which is on any people which is under the new chain, and now we want to convert it into a wen t on the maintenance.

Mathias:

So how you do it is that you take your children's, you won't see any p childrens and you transferred to a migration adverts, and then that migration efforts will make sure that it gets mapped to the minute and on the men, that it will be the same address.

Karim:

It will be the same.

Mathias:

Keep here so you'll have the same address and the same private key just resting on the minute it's done, and it will automatically get destroyed on the unit.

Karim:

Oh, so it's the same physical address that is currently being used for the token that's going to be the actual physical address on the ontology.

Mathias:

Boxing?

Karim:

Yes, cynical.

Mathias:

Okay so is that's what is also going to be used and because i believe that the people that got an air drop from neo still have unequal match of that coming for the ontology may net correct so if you have if you got ten ontology tokens from neo as an airdrop that means you have another ten tokens coming once you actually migrate correct so it will be sent directly to that address it will not be sent directly you need to send it yourself to the migration address and then once you send it it will be destroyed from the right here and it will be deployed on the intelligence aion ontology attacked you will still only have tio they just be on ontology native country instead ofthe ontology knew okay yeah that part definitely makes sense i thought that there was an extra air drop coming from the initial neo snapshot but i could be wrong about that my idea next everybody i'm not entirely aware about that theo but the main process itself will be a simple as sending your ontology to an address that will look identical to yours and that will burn them on the neo sign and they will be existant on the ontology sign and you are yes because we'll be ready to go that's a beautiful way i figure explaining because sometimes he's talking swaps they get a bit complicated it's often written in a bin cryptically language so, right, we're just explained it, that that's bottom.

Karim:

Okay, perfect, perfect that's going to make it pretty easy for people.

Mathias:

And i know what you're right when the steps get too complicated.

Karim:

It's.

Mathias:

Scary, you know, because you're moving around money, so all right, so one of the things that becomes a parent, as you start learning about ontology, is that the project really embraces air drops as a method of distribution and community building.

Karim:

So i was just wondering if you could talk about that a little bit, maybe.

Mathias:

Ah, what?

Karim:

Why you guys use them, or how they can help build the project.

Mathias:

Just air drops in general, since ontology seems to utilize them very well.

Karim:

Yeah, so i don't have a schedule foot for the upcoming andrew i know we did a huge one before which were very much minded on getting the technical community going and i think why we used it isthe a line to the philosophy had the project and the philosophy ofthe legion are co father he believed that the technical community and in general that the community around ontology will be one off the key successfactors too into this project.

Mathias:

So as we are ontology it's not our job to build the whole network, we will simply and maintained that the infrastructure and then the rest should be developed by the ecosystem.

Karim:

So we want to distribute some tokens out in the community in the system for them to get the interest of the project, and start to develop the eppes and tools.

Mathias:

And we call the enhancement proposals which could be some some contribution to the protocol itself.

Karim:

So that's kind of the philosophy which do that way make these efforts yeah that's ah, very interesting and i think we have seen that in this space ah lot of power comes from the community and even neo itself i think has gained a lot of value from the city is eye on and, you know, community driven projects such as that so it's definitely good to see that you guys were focused on that aspect and that that's actually my role in ontology currently to build up the technical community.

Mathias:

So after this add drops, i see that people, they they took their time to understand the technology, and now a lot of them live on our project interesting, and they're starting to contribute their starting to build small, independent groups, and that is really cool to see how how it has affected it that way.

Karim:

Yeah, it does seem to grow organically once there is a spark, and it could go in any direction, and they know that we have allocated a huge proportion off our tokens community.

Mathias:

I honestly believe, it's, one of the biggest allocations that we have seen in the reasons projects around that sounds like a good place to put your resource is, um all right, and then another major question again, i know you're more in the community building side, so you may not have the answer to this and that's fine.

Karim:

But another strategy for ontology seems to be partnerships with major financial investment firms like falsone and sequoia, and just wanted to know is that is a strategy here to use thes companies as pipelines to put aion team to multiple businesses and sectors kind of from the top down.

Mathias:

So the idea ofthe importing this veces is that they have the connections out in the industries so they will be able to help us unfold some institutions could be financial institutions they could also raise all the to farmer life science governments and so on so that the idea is that we don't i wouldn't say we're looking for money we're looking for like pieces who can connect us out too valuable institutions with and be the first ones to participate in the network because trust ecosystem will not arise before we have some institutions which are going in to be what we call trust angus so so it has to start somewhere right once i probably killed him then it's probably more easy for to convince the other ones to participate yeah that seems like a pretty engineers strategy honestly and especially if you can convince these vc cos if you can show them that this is ah product that's going to improve the businesses they're investing in it's a you know a positive feedback loop for everyone involved all right and these are questions that we kind of tend to ask everybody that tend to be a little more put you know fun or lose but one of our favorite questions is if you had to pick a portfolio five coins for ten years you couldn't trade him five projects in the cryptocurrency space okay aah ee aah and you are allowed to pick ontology i'm not a lot of big told you you are you are you are a lot of ontology pivx would be one of them obviously otherwise will not work for the company i believe second, i think i'll go for ethereum i would probably also go for iphone and maybe open, which is a very new projects open platform where they tried to build an infrastructure for for payments and last one i'm trying to come up with for one for the last one probably i guess it would be new it's not a fun one but area near it's not a fun one but it's a solid choice ah your your selections would be very popular with the crypto basic staff.

Karim:

So so what i'm often trying to look at me when i'm getting my points is to look at projects with are delivering enterprise level solutions and not trying to solve a too narrow particular business problem already provide some infrastructure which is applicable to today life larger orgy audience off the industry so mathias is based on what you've seen personally since you're in touch with the industry and you get to have a lot of communications with ease businesses and the actual crucial points of adoption how do you see the timeline of mass adoption for crypto currency if, like i know it's a just a gn opinion but just based on where you stand sure so so, it's, very interesting these days, because when we go out to visit some off off potential partners and people who request information, we're starting to see that some off them they are beyond the step off.

Mathias:

What is blocking, they are starting to do and beauties and pilots, and they're looking for for projects.

Karim:

Tto help them do that.

Mathias:

So that's one off the the crucial steps, i think way we're starting to torture and but in terms ofthe mess adoption, i would say, if i have to give a number, i would say tellus, probably, in my opinion, then we will really start to see the technology in a very mature stage, and business is really seeing the benefits off utilizing it.

Karim:

S o so i think at some stage, the businesses they will see.

Mathias:

Okay, now we can autumn eyes face, we can streamline processes, and we can eventually save cost, and then they will start.

Karim:

I probably couldn't agree with you more.

Mathias:

I do think that we tend to overestimate change in the short run and underestimate change in the long run.

Karim:

Ten years sounds like a like a very reasonable curve and another question.

Mathias:

I mean, i know you told us why you got into cryptocurrency after a ah, you had an opportunity, and it was kind of serendipitous how you met with auntie, but personally did you have a particular ah ha moment with crypto currency that really sparked your interest or a particular project or event that really got you interested in this world?

Karim:

Yeah, definitely.

Mathias:

Ethereum wass my my entry into the black sea in space, i started follow them back and be i don't know that would be around two thousand fifteen, i guess something like that.

Karim:

Yeah, i just saw this this idea coming up about blockchain, true point, zero hour pulling on the second generation off because obviously i was a bit interested in bitcoin and here to be a caste system and so on.

Mathias:

But once we showed this idea ofthe making programmes on the blockchain, it really caught my attention because now we can implement business like into a distributed system and so that this is not a new idea.

Karim:

It's kind of old idea, where we suddenly had someone who were able to execute project at the right time where the computing resource is.

Mathias:

They were capable enough off doing some time, some tragic, surrounded.

Karim:

All right.

Mathias:

And then i have one more impromptu question for you that i didn't know i was going to ask you.

Karim:

But once you told me about your background, ah, from what you saw in the artificial intelligence world, and now you're experiencing blocking, do you see a merger of these two technologies?

Mathias:

That may be a lot of people aren't seeing coming of how the developments in artificial intelligence might end up interacting with the blockchain or those two worlds.

Karim:

Do you see them as staying separately for a while?

Mathias:

I see some parts off a definitely going into a lodge in our hey isa very, very loose concept these days, i would say, and some off the they say management ideas off a i i could see and in blockchain like way will see a lot of data coming into the bloc.

Karim:

China are being handled in the systems it could be from a i ot off a man, organizations who are protesting a lot of transactions. And to handle this data, i could see some cognitive agents coming in, which is, i would say, like a set off machine learning algorithms, which learning based on data, and they're able to handle certain scenarios and situations with these so that you can leave mustard into management to a internet agents instead of many that i think that's, some good case that's going to be a fascinating to watch.

Mathias:

All right, mathias, if, if there's anything, we missed here, anything you want to let us know about ontology, anything that's upcoming, any message you want to give to the audience, you have the floor here.

Karim:

Tto close out the show.

Mathias:

Stay tuned for for our minute and he's going and join our discourse, and maybe our telegram, they say a lot of things going on in there right now and that's really replace teo, check out the project and see all that this excitement around it.

Karim:

I'm also from ontology side, we will publish some men guidelines regarding a community and their contributions on how to engage with us and being compensated. So, yeah, go check that out and check out our project. I think it's it's definitely a cool project.

Mathias:

You know, i can say that with full honesty, i was we had a couple of our very active community members push for us to cover ontology, and i'm very glad they did, because the more we learned about the project, the more we liked it. So, mathias, i really want to thank you for your time for coming here to speak to our audience about ontology and thank you so much for listening. This is going to wrap it up for this crypto convo, as always, don't forget to check out our other episodes of the conversations rate is an itunes all that good stuff, but with the crypto basic podcast my name's current baru kau is here was mathias glam pork your room, thank you so much for tuning in

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