AMA Recap Crypto Library with Forint Finance

                                       

On 14th October 2021, Forint Finance conducted an AMA in the Crypto Library Community. Our guest is Forint Finance Team. Lots of questions as usual from the Community about Forint Finance progress. The Forint Finance 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 Forint Finance.

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

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

Jacopo (Forint Finance) : Hello everyone, I’m Jacopo Neroni, the Chief Technical Officer and the full stack engineer of Forint Finance.

Giuliano (Forint Finance) : Hi everyone. I’m Giuliano Neroni, Chief Innovation Officer of Forint Finance LTD, back-end developer specialized in blockchain technology.

Gabriele  (Forint Finance) : I guess I better introduce myself as well... I’m Gabriele De Propris, Chief Operating Officer at Forint Finance LTD.

Davide (Forint Finance) : Hi All. I’m Davide, the latest addition to the Forint Finance Team, super excited about today.
FIRST SEGMENT (HOST)
Crypto Library Team : What is Forint Finance? and how your team begin the process of creating this project?

Gabriele (Forint Finance) : It all started in December 2020 when Giuliano Neroni had an idea around creating a Token on BSC. At the time, he only knew that, having had many years experience working within blockchain technology, he had the technical ability to create a token easily, but he still needed a use case for people to buy it. Eventually Jacopo Neroni joined the team, and, taking stock of their combined business experiences, they decided to address the issue of fiscality in the crypto world, as it is an issue that we will all have to face at some point in the future. All the products currently in development have the final aim to be compliant, and help, with all regulatory returns in many different jurisdictions, whether is for private investors or major corporations. Once the final goal was clear, the development could be done in house, and the team started to expand to incorporate different professional figures. Eventually our mission evolved to what it is now, to create the safest and most complete portal for all your cryptocurrency needs, and Forint Finance LTD was established.

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

Giuliano (Forint Finance) : Our roadmap has been designed to keep adding value to our investors for many years to come. We foresee that our first product, without counting our token, will be ready very soon, as we are finalising the banking arrangements but the technical development is finished. This is Dexy, a user-friendly intermediary interface that will allow you to connect to decentralised exchanges and buy/sell just by entering your card details on the virtual POS on our website. Following this, before the end of Q4, we will have our ICO launcher platform that will allow third party projects to launch using our platform. Users will be able to buy in presales with full confidence that their money is safe and that the project has gone through our KYC checks. We already have 2 tokens ready to launch on our platform. Following this we will have the first physical Dexy ATM in Q1 2022. If you want to know about our future projects, I would suggest you look at our website, forintfinance.com, because I could keep talking for another hour :-), but just to give you an idea, we will have our marketplace for NFTs, goods, and services, as well as Forint Fiscal Assistant. 

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

Jacopo (Forint Finance) : Forint Token is what fuels our whole ecosystem. Whilst in BSC, you can benefit from our tokenomics, 7% weekly BUSD redistribution - 2.9% towards marketing and development - 0.1% to charity, but the real use cases are the advantages that the holders will gain by using our platform, especially after the Polygon migration in Q1 2022. On Dexy users will have a discount on fees based on the number of tokens held. Our marketplace will support various cryptocurrencies, but there will be lower fees for transactions in Forint. On our ICO launcher, Forint Token holders will be able to have early access to presales, stake their incoming token,and more. Above all, by buying Forint you’ll be investing in our Company and this team; we are here to gain a seat at the table of the big Cryptocurrency projects, not to just create a small token and make a bit of money. So far we have reinvested 100% of our income into the project without taking any money for ourselves, we believe that this is the only way to grow the project organically. As far as were you can buy it, at the moment is only on pancakeswap. If you go to http://forintfinance.com/token.php there is a “buy forint” button that will redirect you on pancakeswap.

Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?

Gabriele (Forint Finance) : Coming very soon you will see our intermediary decentralised exchange interface (Dexy) live on our website. This will allow you to purchase selected cryptocurrencies directly with your local fiat currency with very low fees, especially if you are a Forint Token holder. This will be our second milestone, the first being the launch of the token itself. Moving forward, our ICO launcher will be ready soon after Dexy, and we already have 2 tokens lined up to launch with our platform. Going into 2022 we will need to develop our marketplace and fiscal assistant, in order to close the circle. Other future plan are to expand what our products will do: Dexy will be able to create “favourites” crypto, alerts based on your transactions, packets of multiple cryptocurrencies to buy based on risk appetite; The ICO launcher will feature presales alerts for coins that are not part of our ecosystem; the Forint Fiscal Assistant will need to expand to more and more jurisdictions; The marketplace will need to add more and more services. The sky's the limit, really. We do not like to sit still, hence we will always look at new ways to add value to our users.
SECOND SEGMENT (TWITTER)
Crypto Library Team : Has ForintFinance conducted any audits? How safe is it to use your platform? Can you tell us about the security measures you've implemented? What precautions will you take to ensure that your security is long-lasting?

Jacopo (Forint Finance) : FORINT has been audited by Techrate and SCAC, and it has passed all the tests on the functions implemented in the smart contract without finding any major critical issues; we are also waiting to be able to audit our DAPP Dexy. Our portal Forint Finance provides access through an asymmetric encryption protocol https in order to prevent possible interceptions of the contents during the operative session. The login happens through the inclusion of an email and a password encrypted with a 512 bit hash algorithm. Additionally, we implemented further security measures in order to prevent further problems, such as SQL Injections, Session Hijacking, Network Eavesdropping, Cross-site Scripting, and Brute force attacks (let me know if you want to know more about it). We also store all login attempts, both successful and unsuccessful. In case of unsuccessful attempts, it is possible to delay the next login attempt by a number of x seconds, in increments of each incorrect login. For example, if I try to access the portal and enter an incorrect password, I can try again after 30 seconds, if I continue to enter incorrect credentials I can try again after one minute, so on up to 5 incorrect attempts after which the user will be suspended and only Forint Finance LTD can rehabilitate the user after a verification procedure. 

Crypto Library Team : What method does #ForintFinance plan to use to keep $FORINT volume, supply-demand and value in check? For now, which projects are you most focused on?

Guiliano (Forint Finance) : In order to ensure that our investors can enter the cycle of the token at any point during the development of the platform, we have devised a roadmap where, at different stages, more reasons to buy and hold Forint Token will be unveiled. Dexy, the first product on which we focused, intended both as a token purchase/sale system as well as a pivotal part of the ICO launcher, it is closely related to the volume of exchanges and to the use of the currency, going to directly benefit the holders. The ICO Launcher, as Jacopo mentioned earlier, will allow Forint Token holders to have early access to presales, stake their incoming token, and more. Basically, for every product launch there will be a further reason to enter the ecosystem. Obviously it’s no use to have great products if nobody knows about it. That’s why we have LunaPR taking care of our marketing campaign. For those of you that might not know LunaPR, they are a marketing agency based in Dubai, highly known in the Crypto world, lead by Nikita Sachdev. They have successfully promoted a number of projects, both low cap in their infancies, and more established projects. If you want to know more about them, you can find them on LunaPR.io. It was a great result to be able to partner with them, that shows the strength of our Company and project.
THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team : How strong is your team? who is the team behind this Project? is your team planning to reach other Countries with potential crypto markets and big teams and investors want to work and cash in on crypto?

Gabriele (Forint Finance) : I like this question as it resonates with me. I was not part of the project from the beginning, I was just an investor. After following the Token and the Team closely, I had the opportunity to meet and get to know the team, and I realised that, Giuliano and Jacopo in particular, are capable of achieving great things. I had the privilege to work with them for a few months now, and every day I am surprised by their professionalism, work ethics, and technical ability.

Crypto Library Team : What is the security features that implemented in ForistFinance to ensure the platform is safe and prevent from hackers?

Jacopo (Forint Finance) : These are the features that make our platform secure:
  • Against the SQL Injections
It is an attack aimed at targeting web applications that rely on a SQL-type DBMS. This attack exploits the inefficiency of data input controls and inserts malicious code into an SQL query. The SQL injection allows the attackers to authenticate themselves with wide privileges in protected areas of the site even without being in possession of the access credentials and to visualize and/or alter data in the database.
  • Against the Session Hijacking
The term session hijacking refers to the exploitation of a normal work session to achieve unauthorized access to a computer's information or services. Specifically, it involves the theft of cookies used to authenticate a user on a remote system.
  • Against the Network Eavesdropping
Network eavesdropping is a network attack that consists of intercepting small packets transmitted by the network to any computer that requests it.
  • Against the Cross Site Scripting
Cross-site scripting allows a Cracker to insert or execute client-side code in order to implement a varied set of attacks such as: collecting, manipulating and redirecting confidential information, viewing and modifying data on servers, altering the dynamic behavior of web pages, etc. According to a report by Symantec in 2017, 80% of all breaches are due to Cross-site scripting attacks.
  • Against the Brute Force Attacks
Brute-Force Attack attempts to detect user and password to access the portal. A program is activated and then endless password attempts are made until the correct one is detected.

Crypto Library Team :  Forint Finance cannot store any confidential information about the wallet or private keys of the holders, but in the same way the personal information of KYC is processed by an accredited third party, who is that third party that has access to our information, which are the projects incorporated into Why does the Forint Finance platform link holders with so many external parties?

Guiliano (Forint Finance) : Forint Finance relies on the third-party service offered by Get ID with regard to KYC/AML verification. British law requires that for every ICO, even on decentralised exchanges, the token issuer registers its users, but not only that, all European and other regulations are moving in this direction, so Forint Finance is completely at the forefront in this regard. In addition, for every transaction involving the transfer of FIAT denarius (EUR/USD), the KYC/AML procedure is mandatory in order to prevent denarius recycling.

Crypto Library Team : How will the demand of Forint Finance increase in the future? Or what steps will ForintFinance take to increase the demand of the project?

Davide (Forint Finance) : As said earlier we have a plan (whitepaper that you can find on our website Forintfinance.com), We know each step and the importance of them. Our roadmap has been designed to keep adding value to our investors for many years to come!

Crypto Library Team : How many team members do you have? Do they have enough experience in the blockchain field? Do they have any experience on working in crypto and non-crypto project?

Jacopo (Forint Finance) : Our team is composed by a mix of different experiences and strong personalities, but with the same objective. Giuliano and myself are the developers and between the two of us we have enough blockchain experience to make this successful! 

Comments