AMA Recap Crypto Library with Privateum


On 31st August 2021, Privateum conducted an AMA in the Crypto Library Community. Our guest is Gevorg Airapetian. Lots of questions as usual from the Community about Privateum progress. The Privateum team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into Privateum.

Let’s take a look at the most interesting points of our conversation. 

Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?

Gevorg A (Privateum) : Hi everyone, hope you are all having great time. I'm Gevorg Airapetian, CTO and Co-Founder of Privateum.
Crypto Library Team : What is Privateum? and how does it work?

Gevorg A (Privateum) : FinTech Crypto Platform. We are building a legally protected Fintech platform based on a Cooperative Business Model and Consortium Blockchain Architecture. The main idea of Privateum is to integrate global businesses, services and communities together. It’s the only Financial platform where bright minds and highly motivated individuals can start their local businesses and integrate with a global partnership network to quickly grow, whereas it usually takes huge investments for businesses to start. Thanks to the Privateum legal partnership network, all our platform members will pass KYB and KYC to keep the ecosystem safe from scams or criminal business schemes.

Crypto Library Team : What are the special features and advantages does Privateum want to offer?

Gevorg A (Privateum) : Privateum will strengthen our community to support local businesses and help them to expand globally within our global business network. From Special features are easy integration and quick grow, our tech team will take care of each business partner. Advantages are free transactions within the network and profit sharing within Privateum members. Legal umbrella for all our Privateum members.

Crypto Library Team : Please tell us about $PVM token! What are the token use-case, distribution, and where we can buy it?

Gevorg A (Privateum) : PVM token is required to get access to our internal platform services. Distribution is performed via open market supply. We currently have only 5,600,00 PVM Tokens in circulation out of the total supply of 80M. You can purchase the PVM token on the exchange, PancakeSwap, and 1inch exchange where we have been whitelisted, and more exchanges are coming. You can find the smart contract here:
Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?

Gevorg A (Privateum) : Q3 2021: We had already alpha testing release of Privateum wallet and collected feedback from our community. Planning to release our mobile wallet with public features, and add more features incrementally. Q4 2021: Private wallet with platform Alpha release to get valuable feedback from our community. And also planning KYC and KYB platform release to start onboarding partners and platform members. 2022, 2023 …. Continuously adding more Financial services into the platform (Merchant client, Payment and Business Reporting systems) and Fintech partner solutions integration with our platform
Crypto Library Team : This will change the World?

Gevorg A (Privateum) : It WILL! Being part of Privateum ecosystem, next generations will get access to trustworthy investment sources, business partnership opportunities, high quality products and services. Due to its Cooperative Business model Privateum solves the biggest gap between the rich and poor, boosts the economic growth by helping small and medium-size businesses to grow and helps with experts’ knowledge sharing within the network. Privateum always keeps its members motivated, improves the quality of their life and provides huge support.

Crypto Library Team : Can you tell me what is the ghost network? How it helps in the enhancement of privateum? And, is there any specifications to acquire privateum's ghost network? If so, can you tell me who are permitted to utilize the privateum's ghost network?

Gevorg A (Privateum) : Privateum’s architecture is based on the Proof of Authority (PoA) consensus algorithm. In order to provide maximum security to cooperatives, the platform utilizes a (PoA) algorithm along with the Privateum Ghost Network. PoA can be used either in private networks or in some additional staking modes, however in some cases it’s being modified as PoSA because the only control algorithm it has is ‘’Staking Authority’’ though in some cases the deposits seem within the authority. But it doesn’t guarantee a network from tampering attempts. Our Ghost Network is a product which will monitor and control network nodes and make sure they are not tampered. Ghost network will be a packaged solution/service which can be shared with our partners in the future.

Crypto Library Team : Recently you have listed $PVM on XTexchange & also we can buy $PVM through PancakeSwap V2. So what is the current status after being listing on Pancakeswap & XTexchange? Which exchange will be the luckiest one to list $PVM?

Gevorg A (Privateum) : We are currently considering only top 10 exchanges with the most market coverage which will help us to grow our global community faster.

Crypto Library Team : Is there a plan to expand to any other chains ? and curious about security and audits how do you protect users and them funds?

Gevorg A (Privateum) : We are always open for partnerships and we are constantly monitoring new projects and platforms. Regarding security and audits. We have Certik certificate for our smart contract (I mentioned earlier), also working with 3rd party security testing team and we have security bounty programs. Security is the top priority for us.

Crypto Library Team : How profitable is #Privateum sustain your project? What is your business model? How can you bring mutual benefits for both your investor and your project?

Gevorg A (Privateum) : It’s the only profitable crypto platform for both business and community investors and partners. Demand for token will grow incrementally with extending our cooperative members globally. And the Cooperative business model is the only democratic and profit sharing model to benefit our members, partners and investors.
Crypto Library Team : Talk about the correct information, do you have a token burning plan to increase the value of key tokens and attract investors to invest?

Gevorg A (Privateum) : We are thinking about this and our decision will be announced in our public channels which can be found in our website.

Crypto Library Team : What is your plan for global expansion? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?

Gevorg A (Privateum) : It will be expanded quickly, we have a lot of interesting partnership offers to join Europe with Asia and America and continue non stop growth.

Crypto Library Team : What is the structure of this project , is it decentralised or a open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?How do you plan to spread awareness about your project in different countries where English is not spoken well?

Gevorg A (Privateum) : It's decentralized but it's not available publicly to everyone, all members should pass KYB and KYC in our legal partnership nodes and then they will get access. We are highly motivated to keep our ecosystem safe for our members and partners. Our platform business model gives equal opportunity to everyone to grow local network and join to our ecosystem.

Crypto Library Team : Users often care less about technology, but rather the value of the token. How do you manage to strike a balance between developing the technology and also improving the value of the token?

Gevorg A (Privateum) : Project main platform and business model requires some financial knowledge, but we are using the best UX expertise to keep as simple as possible during our products development.

Crypto Library Team : Do you consider community #feedback/requests during the creation process to expand on new ideas for your #project? Many projects fail because they do not understand the target audience and customers. So I want to know who is the ideal consumer for your product?

Gevorg A (Privateum) : Most of the projects in crypto space don’t have a real business and revenue model and as an investor there is no reason to buy or invest there if you don't want to donate or support idea. Our project has a real business and revenue model and is going to be an example for the crypto ecosystem. Crypto world is now in a romantic phase. I call it romantic because they are like couples when they just met and love each other and they are excited, everything feels great, nobody cares about the future. When couples get married, everything becomes real and they need to generate income to cover their family expenses. We also hope crypto investors will start asking why I should invest in a company which is not organized/registered to have profit. Ideal consumers are highly motivated individuals to make their and others life better and make the world the best place to leave.