RECAP AMA IDCRYPTO X Findora
Speaker : Lilly (CEO Of Findora)
Date : monday, Nov, 30th 2020
THERE IS 3 SESSION FOR AMA
1. PROJECT INTRODUCTION
2. FORWARD BEST QUESTION
3. FREE ASKING
Hello everyone, welcome to AMA ID Crypto with Findora
Today we have a distinguished guest, Mrs. Lilly Chao (CEO Of Findora)
who will explain the AMA theme and answer some of your questions.
hello Mrs. Lilly Chao @lily52099
welcome to our community, we are glad to be with you here.
My great pleasure to be here today!
thank you for joining here today, But before we start, can you please introduce yourself and your background to us first?
My name is Lily Chao. I founded the Findora organization along with John Powers, the former CEO of the Stanford University Endowment Fund. I am quite well connected as a young entrepreneur and investor active in Silicon Valley and Asia Pacific Rim. - Before founding Findora, I have a successful track record of investing and advising in early stage tech businesses and providing financial advisory to growth stage tech companies both in the US and in Asia. My expertise is in privatization, SPAC, merger & acquisition. Being tech-savvy generation who seeks to disrupt and improve legacy businesses, as opposed to following their lead, I am the original thought leader, along with the late John Powers, that devised the strategic and product vision of Findora Foundation. With one foot in Silicon Valley and another in the broader Asia-Pacific rim, I have seen the ways technology can create real world solutions across all corners of the globe. In my leisure time, I enjoy cooking, shopping and off-roading.
SESSION 1 PROJECT INTRODUCTION
Next, can you introduce about Findora to the IDCrypto community?
Findora is a globally trusted financial infrastructure, owned and democratically secured by a decentralized network of worldwide organizations and economically incentivized parties. Findora was created to enable the creation of financial services that are transparently operated while preserving user and institutional privacy. Created by a team of Stanford academics and entrepreneurs, including John Powers, former CEO of Stanford’s USD $25 billion endowment fund, Findora will be accessible to anyone in the world, whether individuals, small and medium enterprises, or industry giants. Our team has extensive collaboration with leading cryptographers in the world and our comprehensive cryptography library includes implementation of state of the art Zero Knowledge Proofs such as Plonk, Bulletproofs an Supersonic. For more information, visit www.findora.org
Transparency with Privacy and Scalability are what we bring to the community.
Findora is being operated by a decentralized network of operators. But the software stack can also be deployed and operated by a variety of interoperable networks. It can be used by a traditional bank to replace the infrastructure they currently run on, deployed in the cloud, or It is a platform for issuing assets of any nature, including cryptocurrency. Findora's mission is to address the challenges necessary to support this broad class of assets and diverse financial use cases. One of the primary challenges is providing confidentiality while retaining the transparency and public accessibility of other blockchains. Achieving this privacy-preserving transparency is Findora's major focus and product differentiation.
very good, I hope our community can understand it😁
Next, what is the best achievement that findora has got so far?
Our main achievements so far: 1. invented a very unique DAO, DeFi fund management system that support privacy preserving asset operations voting/onchain governmence. We believe such blockchain based organizations will change the world; 2. be responsible for discovering one of the most efficient trustless Zero Knowledge Proofs systems; 3. has built an entirely new blockchain based on the newest ADS technologies from the ground up purely using Rust + WASM; 4. completed one of the world's most comprehensive cryptography libraries- ZEI. Planning for end of this year/next year! ---- Launching mainnet! We are ready to go!!!
Don't worry. Basically Findora is a very technically advanced blockchain. We use a lot of reliable cryptography tech to help protect users.
And make a more available and easier to use platform.
Launching Mainnet, that would be a very good achievement for a project🥳
I think that’s enough for the introductory session, can we go to the second session?
SESSION 2 FORWARD BEST QUESTION FROM TWITTER
on the findora testnet, what kind of results do findora expect before the official version of findora is launched?
Our testnet was live since the past January and we launched it to community in August. We have admitted a lot of community enthusiasts, developers and enterprise users. We received a lot of great feedback to make the testnet a better platform.
So far we fully support confidential assets, from creation to transfer. We also support some of the advanced features like confidential asset tracer and there are also a lot of standalone building blocks helping developers build their own.
We are happy for the status quo and wanted to make sure the stability is wonderful!
I can list some of the features in our cryprgraphy library:
High-level Features Supported by Zei: Confidential Transactions , Anonymous Transaction, Coin Mixer, Selective Disclosure Credentials, Asset Tracer, Proof of Solvency, Proof of Whitelisted Assets, ZKRollup, Authenticated encryption.
Exactly. Community is the real hero.
Zero-knowledge proofs allow Findora to be publicly audited, while data remains confidential. Is it working as same as survey mechanism? We know not all of survey's questioner are valid. By considering its Zero-knowledge proofs, how does FIndora filtering these invalid data?
Totally different. There is no invalid data issue. Zero-knowledge proof is a method by which one party (the prover) can prove to another party (the verifier) that they know a value x, without conveying any information apart from the fact that they know the value x. I call it privacy preserving single party computation. A user can prove a transaction and its correctness by posting a zero knowledge prooof on the blockchain and anybody can quickly (in milliseconds) verify (it to be true) without revealing the metadata. Zero knowledge helps achieve provable privacy. The actually inputs and outputs are not stored on the blockchain.
We can develop privacy-preserving applications on the Findora, but it still for testnet version. If we develop it on testnet version, can we move our data to the full version when its coming? When will the full version be launched?
Yes. I think it is possible to move the data, especially when the applications are built on open testnet with testnet tokens.
Findora has done many AMAs in various telegram groups, can i know, what do you get from all the AMAs you have done?
We benefit a lot from these AMAs. I wish I could have done more. We always try to answer new questions (besides those classic ones). And we view the AMAs as a great opportunity to meet with and know the communities. The global pandemic limits our abilities to travel. We wanted to meet community. It looks to me the AMAs are one of the good ways to meet with new communities. We have already received the research and incubation grants applications from thr communities. We also received a lot of applications and enquiries about the Ambassador programs. I think we are building a fantastic Findora community!
Findora is a Zero knowledge blockchain. So, it means we can do Anonymous transaction on Findora blockchain. Right? If yes how regulation will be handled?
Yes. You defenitley can create, issue and transfer anomynous assets. Any unauthorized third party cannot find out a lot of your trasactional information through block explorer or validator's data storage. However, different from Zcash and Monero, an anonymous asset on Findora is auditable:
Here is why and how: the anonymous transactions on Findora is realized with ZKSnarks. The validators can verify these transactions are true. Although third party by default cannot see anything, the transacting parties can issue special viewing keys to auditors for different level of auditing.
In addition, they can also generate other types of ZKPs to prove a statement such as the amount range etc to satisfy an audit.
Alright, the second session is over. We will continue to the third session.
SESSION 3 FREE ASKING
As I know a strong community is very important for every project. Do you plan to be a local or global project? What strategy will be used to expand the community?
Findora is a class of its own. And we are defintely global project. This is a commitment. We view the community as the key to our success. We divide community into several sub segments: general crypto community; developer and researcher's community and enterprise users as a community. We believe these communities should be equally strong and benefit each other. On the general crypto community side, we have teams around the world to raise awareness of Findora brand and services, deploy all kinds of growth programs including incentivized participation, gamified application experiments, bounty program. We also have a privacy preserving stable coin project that is designed to help solve lack of banking access and cost effective international remittance issues.
On the developer and researcher's community side, we have a Findora Research Institute consisting of established researchers, economists and compuer scientists, we have specialized funds to sponsor and support research projects for both private and public domain especially cryptography. We are willing to invest and flourish a developer's community, an ecosystem fund is being set up to invest in Defi and other applications.
Finally, enterprise adoption is huge for blockchain. We firmly believe, practically, a large portion of the world's totla transaction will be moved onto the blockchain. And we are already working wth partners like Tencent Group to help move small-to-medium sized enterprise onto clould hosted blockchain based transaction systems. Such systems are configured as Findora public blockcain's side chains and the more adoptions, the more support to our Findora main chain and token utilities.
what are the ways that generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ?
Great question! We build great blockchain and great tokenomics. We believe blockchain is very different from the traditional TMT startups. However, decentralized protocols still need to have a revenue model. The revenue should come from utility and asset transactions. Findora plans to act as the blockchain transaction hub by leveraging our expertise in cryptography. Not only serving the applications on Findora, our ecosystem play includes providing cross-chain ZK Rollup to Ethereum, helping lower the GAS fee while making revenue for Findora. We also provide side ledger services to the business users that are willing to pay. Such services will require staking and pledging Findra tokens and will also contribute large revenue streams to the public blockchain. Onchain L2 liquidity mining and cross-chain asset transfers are also part of the business revenue generation plan. I am confident our token holders will be happy to see the Findora tokens are providing increasingly valuable utilities.
Can you tell us the distinguishing features of Findora that keeps users to stick with your platform in the long run? How will assure to the community that Findora is a best platform to engage with?
We have so many features: Findora represnts the cutting edge of the blockchain technology: we are aiming to bring breakthrough to Web 3.0 rather than incremental improvements. The problems we solve and the technology we use make us unique: we use a variety of the newest trustless and efficient zero knowledge proof techniques to bring efficient confidential/anonymous asset operations/transactions to an open blockchain; we use the similar technology to create confidential identity and credential for open blockchains; we use the best in the class zkSNARKS to create optimized ZK Rollup services to help scale up the entire blockchain sphere; we innovatively use a variety of authenticated data structures to make a highly efficient new blockchain. There are a long list of features. I would like to skip it for now as I believe a lot of them are not in household English. But I can guarantee these great features are the most desireable ones for asset security and scalability.
Findora will aim to support any kind of assets, which is a huge goal. What is measurement will you implementing to avoid scam assets infiltrating Findora system?
Findora is fundamentally a blockchain technology platform and will provide a balance between transparency and confidentiality. We provide tools that enable users to demand more transparency. Our auditing tools enabled by ZKP can give users a holistic view of assets. Users will be able to assess the assets much more efficiently than on a traditional fragmented system. The Findora ledger gives people the ability to see thoroughly without infringing on business privacy. For instnce, synthetic ZK tools like proof of solvency, proof of whitelisted assets and proof of current ratio etc can provide consumers an holistic view of the key auditing parameters without disclosing raw financial data. Ponzi Schemes and fraudsters will hate these tools!
Is Findora a fully decentralized project? How do you avoid being centralized more?
Yes it is. We aim to take steps to fully decentralize the Findora public blockchain.
The steps are multifauceted. But essentially, based on our consensus model, we are optimizing our token distribution strategy.
We prefer Findora tokens distributed in an even way across jurisdictions, allotment sizes, demographics, industries and partnerships.
We also spare no efforts to run community based incentive programs to make sure Findora digital asset is a true public utility and they are in the hands of people who will use them.
the third session is over,
before we officially close the event, is there anything you want to share?
I so much enjoyed the time spent with you! The hosts are super nice to me!
Thank you Mrs. Lilly 😁
Yes. We will have a lot of exciting news coming during this holiday period. Please stay tuned and build the faith with us!
We declare AMA's Series IDCrypto with Findora is Done. 🥳🥳🥳🥳
Thanks to Mrs. Lilly Chao
who gave us the time to share this knowledge, I hope we will understand more about Findora
Thank you to the participants who have attended this event to the end.
the winners will be announced soon🥳🥳🥳