AMA Recap Crypto Library with KwikTrust

   

 
On 18th November 2021, KwikTrust conducted an AMA in the Crypto Library Community. Our guest is Simon Read, Yasir Qayam, and Christina Ashley. Lots of questions as usual from the Community about KwikTrust progress. The KwikTrust 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 KwikTrust.

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?
 
Simon Read (KwikTrust) : Hi, I’m Simon Read and I’m the CEO of KwikTrust. My background is tech. I’ve built and sold two businesses previously. I’m also a mentor and a judge to some tech accelerators, and I helped to setup the ‘We In Social Tech’ accelerator in London for female tech founders, which is sponsored by Deutsche Bank.

I first become interested in blockchain technologies and their potential when one of the companies I was mentoring on a tech accelerator decided to pivot to blockchain.

Yasir Qayam (KwikTrust) : Hi I am Yasir, I am the COO of KwikTrust. I have been in blockchain space since 2017, researching and studying blockchains, analysing various projects and its application. I met Simon in 2018 when I was at Oxford Blockchain Strategy Programme. And I knew this was very special project which had wider application not just in crypto community but also outside of crypto ecosystem. And I am now looking at ways how KwikTrust can take over the Metaverses.

Christina Ashley (KwikTrust) : Hi, I’m Christina! KwikTrust’s CMO. My background lies in SaaS, tech, and of course Blockchain.

I first came across the space while working alongside the AWS partner program. A colleague asked me to join them in a new venture and I never looked back. From there I have spent time building out marketing strategies and programs for various different enterprise and blockchain solutions.

Simon and Yasir (our COO) reached out for the KwikTrust project and they had so much enthusiasm and passion for the project, there was no way you could say no.  It has been a whirlwind and an incredible one at that. We have a truly fantastic team and we can’t wait to share KwikTrust and the SuperNFT with you today! Thanks so much for having us.
FIRST SEGMENT (HOST)
Crypto Library Team : What is KwikTrust? and how does it work?

Christina Ashley (KwikTrust) : KwikTrust is the next generation e-validation platform, and the home of the SuperNFT. The platform provides more secure file validation and management. 

It enables files to be uploaded and validated.
This includes contracts, intellectual property, as well as  proof of ownership of digital and physical assets.

We can also lock together the asset and owner’s validated identity into a NFT to create a transferable asset. This increases security over ‘old school’ NFTs.

We call this the SuperNFT. and it is game changing! We have filed a patent application for the SuperNFT.

By linking the owner’s validated identity to the asset people will be able to trust higher value assets to NFTs. This will open up the NFT market.

The KwikTrust KTX token is used to mint the SuperNFT so demand for the KTX will increase over time as the market develops, and we feel that the NFT market potential is huge!

We’ve already built our MVP which has active users in the legal, financial and accounting sectors. Finally, We have a really exciting product roadmap ahead, and we will be releasing new features regularly over the next few months.
 
Crypto Library Team : What services are available on KwikTrust? and how secure is this platform?
 
Simon Read (KwikTrust) : At the heart of KwikTrust is the file validation process.

This enables users to upload a file - a contract, design, intellectual property or a digial asset - and have it validated with a date and time stamp on the blockchain.

This creates a tamper-proof record. We have also included, in our designs, an identity validation function, or KYC. This enables a user to lock their valdiated identity together with the asset they have created.

This can then be minted into a SuperNFT. The SuperNFT is a more secure form of NFT that enables users to store higher value assets with increased confidence and safety.

There is a huge amount of potential in the NFT market that hasn't yet been realised. We also have an exciting product roadmap ahead of us and we'll be making regular product releases over the coming months.


 
Crypto Library Team : Please tell us about your Super-NFT and $KTX token in more detail?
 
Yasir Qayam (KwikTrust) : I have more on SuperNFT, and also on KTX token. SuperNFT is NFT but on steroids. SuperNFT is here to unlock the real potential of NFTs and bring them mainstream. So what is SuperNFT?

SuperNFT is ANY digital asset with the creators ID is attached to it. This is what SuperNFT does. This is important because in its current form, if we were to buy a Bored Ape NFT, we are not able to tell if it is authentic or a jpeg someone saved and reminted on marketplace

Marketplaces such as OpenSea put the onerous on the buyer to do their due diligence. It is just like saying that the buyer of Mona Lisa will have to prove if its real or fake you are buying. If you are paying 1000s of $$$ to opensea then it is a service you would expect, that is not the case. With SuperNFT the provenance of NFTs will be made simpler and prevent "fake" NFTs!

@Simon_Read  and @christina_ashley touched on patent, other applications of SuperNFT and the role of KTX within the ecosystem!

Regarding the token:
We have a limited number of tokens, 100million. We won’t be creating any more tokens. We won’t be burning any of these tokens. Regarding token unlock, the plan is to have all the token issued over a very long period, a period of 5 years. 100% of the team tokens are locked for 12 months from IDO.

The uses of the KTX utility token are:
1 . Mint NFT (1 x KTX pays for 1 x NFT). This price can be increased or decreased over time
to maintain the value of the KTX. NFT minting cannot be paid for directly with fiat currencies.
2 . The right to integrate KwikTrust functionality into token holder’s own platforms.
Platform owners need to maintain a minimum holding of KTX 5,000.
3 . The right to provide a service to others on the KwikTrust network. Service providers
need to maintain a minimum holding of KTX 5,000.
4 . Discounted services for users. Services paid for in KTX receive a 15% discount.
5 . Staking. Token owners can join and benefit from staking pools.
6 . Purchase a voting identity to vote on Governance issues.

So we have an element of DeFi and DAO built into it.
 
Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?

Simon Read (KwikTrust) : We've already launched our MVP back in June and it's currently being used in the real-world by commercial organisations.

It was important fdor us to launch the MVP before embarking on the KwikTrust KTX token launch. This enabled us to validate the business model, and prove that our team has the ability to build and roll-out a functioning product.

We have also filed a patent application for the SuperNFT. This will enable us to provide the technology to other platforms and marketplaces.

Looking ahead, we’ll be launching a KYC – Know Your Client component for professional services firms to be able to onboard new clients in a regulatory compliant manner. We are also launching the SuperNFT into the fractional ownership space, with an exciting partnership that we will be announcing soon.

The IDO is slated in for early December, and we are really positive about the IDO as the markets are favourable. We are also working on a listing on a major centralised exchange.

This will give great liquidity for the KTX token. There are exciting times ahead, and we'd love for some of you to join us on our journey!
SECOND SEGMENT (TWITTER)
Crypto Library Team : Can you explain what #SuperNFT is? In the NFT market the most common problem is plagiarism, what is #KwikTrust's plan to solve this problem?
 
Simon Read (KwikTrust) : The NFT market is still in its relative infancy and we haven’t seen the true potential of NFTs yet, beyond digital artworks that we are seeing today.

As a store of value it has much more potential. In the future we will see more assets - Digital and physical - represented as NFTs.

The SuperNFT locks together the asset and owner’s validated identity into a NFT to create a transferable asset. This increases security over ‘old school’ NFTs.
 
By linking the owner’s validated identity to the asset people will be able to trust higher value assets to NFTs. This will open up the NFT market.
 
This has many applications including combatting plagiarism and intellectual property theft.
 
Every file that is validate on KwikTrust has a date and time stamp linked to the creator's identity.As you know a record on the blockchain is a permanent record that can't be changed by anyone.
 
There are many use cases that we have identified across the legal sector, financial markets and for the storage and transfer of digital assets.
 
Crypto Library Team : In #KwikTrust Roadmap Q1 2022, you plan to launch the 2nd version of your app. Can you give a sneak peek of what features will be added there? will the KYC module be included at launch?

Yasir Qayam (KwikTrust) : We have been open about the dev roadmap of the product and are constantly looking to build on it and delivery on it.

Our aim was to have a core product out before token sale which we did in June of this year. Since then we have been working on improving the functionality of the overall product.

Along the way, we added SuperNFT to our product, in addition to the already committed roadmap. We are very agile and will add functionalities as the market grows and the needs change! Like @Simon_Read mentioned, the NFT market is still fresh and we are here to SuperCharge it!
 
In the new year, we will have some big news coming out on our build partners, so watch this space. When we launch phase 2 of the product, , we will have multisig, payments and KYC built into the product.
THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team : I was exploring the social media platforms of Kwik trust and I realized that Kwik trust will launch a "SuperNFT" to change the NFT game for better, so can you give us information about this New type of NFT?

Christina Ashley (KwikTrust) : We have some excellent answers to this already above, but for more information you can also take a look at our newest papr-- centered around teh #SuperNFT. You can find it here: http://bit.ly/ktsnft 
 
Crypto Library Team : For any blockchain token to be truly successful, it must have real utility. So what uses and functions does your token have, what roles will it play in the #KwikTrust?

Yasir Qayam (KwikTrust) : The uses of the KTX utility token are:
1 . Mint NFT (1 x KTX pays for 1 x NFT). This price can be increased or decreased over time
to maintain the value of the KTX. NFT minting cannot be paid for directly with fiat currencies.
2 . The right to integrate KwikTrust functionality into token holder’s own platforms.
Platform owners need to maintain a minimum holding of KTX 5,000.
3 . The right to provide a service to others on the KwikTrust network. Service providers
need to maintain a minimum holding of KTX 5,000.
4 . Discounted services for users. Services paid for in KTX receive a 15% discount.
5 . Staking. Token owners can join and benefit from staking pools.
6 . Purchase a voting identity to vote on Governance issues.

 
Crypto Library Team : What are your plans to support other languages apart from Enlgish? Do you support non english languages?
 
Simon Read (KwikTrust) : Making the platofrm truly international is really important to us, and we are building versions of the app in both Spanish and Cantonese. We also have internal launguage skills in these languages so we will be able to fully support users.
 
Crypto Library Team : Where can I buy it? also all the links to all your social media platforms if possible?

Christina Ashley (KwikTrust) : Currently we are running a lottery for the pre-sale on November 29th-- but there are only 4 DAYS LEFT to join! you can sign up here:
bit.ly/ktlottery
 
 
Crypto Library Team : Successful projects are the result of an experienced team ,the project will not develop without being managed by an experienced team,whatever it is good. So, how about your project? does your team have good experience in the cryptocurrency world?
 
Simon Read (KwikTrust) : We have in-house skills across tech, blockchain, finance, marketing and commercial skills. We also have an intellectual property expert, and an in-house legal team so we can keep on top of legislation and ensure we are regulatory compliant. Our team is also well connected geographically. We have team members in the US, Canada, UK, mainland Europe and Asia.

In terms of qualifications, we have an intellectual property law professor and a qualified in-house full time lawyer. Several of our team completed the University of Oxford Blockchain Strategy Programme. We also have strong skills across marketing, tech, finance and commercial skills.

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