Hi, our dear community. Thank you very much for such wonderful participation. It was really amazing how many questions we got from you. It was really difficult to select from all these questions, but I had to. I will try to now be as transparent as possible and actually go through these questions and let you know firsthand what I think about them.
The blockchain field requires some technical knowledge, doesn’t it? Don’t you think it will be difficult for non-crypto users/customers to operate in this new field?
I totally agree with you. Actually, I think that until we get blockchain simple enough that anyone, even your grandpa, can understand it, we will not get a breakthrough in adoption. We really need to make it as simple as Web 2.0 applications so people will not even notice that there are blockchain private keys or whatever under the hood. Its user experience really needs to be enhanced. Also, with the whole communication, we should really try to come up with something simple. For example, tell people that the DAO is similar to virtual organisations or whatever. We need to come up with something like simple analogies for everything we do in crypto. I believe that our mission as well is to bring this adoption, and that’s why we focus on the creator economy. That’s why we focus on building real use cases for real industries, for music, for art, for science, for inventions, and for patents. Real people will then be getting value from Web 3.0 industries because they will be able to use these tools in their daily work. Then maybe even if it’s a little bit more complicated than regular website usage or regular web application usage, they will at least have enough motivation to do so.
How do you go through disagreements between the founders? If we imagine that you and your co-founders split in the next year, what will be the most likely reason? — Talking about conflict management, cohesion, and collaboration.
It’s a great question. I think we’ve already gone through so much with our co-founders that we will never split. Just to give you an idea, we were living together for a year in the same apartment in Warsaw. It really bonded us together a lot, and we started to make decisions really fast. Then what could be a reason is a lack of communication. This is only reason which I can imagine. But that’s why we are constantly trying to come up with something on how to enhance communication, not only between us, but also within the company. It’s a very good question. Thank you.
What is the story behind the creation of DEIP project? How did you come up with the idea? What was your vision? How did you establish the core team?
There are two questions. How I came up with the idea, I think we were working together with Yahor and Alexey on similar things for a while. We were participating in hackathons. This is what brought us to this stage when we started DEIP. We already had a lot of experience working together. We already knew that we had high competencies in the things we do. We also knew that we got along together really well. I think this is the number one reason why we’re so successful as a founding team. How did we came up with this idea? Basically, we were thinking how we could help the world to realise human potential and talent. We realised there should be some new metric, and this metric should not be just money. It should be something closer to social impact. This is how we started to think in this direction. At some point, I just came up with pretty simple models. This was one of the first ones. That’s when we started to work in this direction.
How do you plan to promote your project? Do you have a local community or a benefit to better understand your project?
Okay, so this is actually really, really important. How we plan to promote our project, how we plan to promote DEIP as a creator economy protocol, is we need creators. We need influencers in every industry, like in music and movies, and we’re looking for people who already have done something in their industry, who are really eager to explore Web 3.0, and who really want to bring their industry to Web 3.0. We empower these people, and we give them all the resources, all of our support, and basically, we want to make them a portal operator in the DEIP network.
What kind of rights DEIP grants to musicians regarding their creations? And also, how does the authentication of IP within the DEIP network protect creators’ rights? If a legal case becomes a necessity, will the network records be sufficient for protection?
They’re similar questions which basically go into the basket of questions like legal compliance, IP rights, copyright, and how to put it on NFT. We create the framework, and we call it two-way legal binding. When you have a smart contract of NFT and you have a legal agreement, they can look into each other. The legal agreement references the NFT through a chain ID, and through a NFT ID, a contract ID, and NFT references the legal agreement through the hash of this file through this agreement. Portal operators basically have both an entity in Web 3.0 DAO in our network, and it also has a legal entity. This is basically the way in how we incentivise the portal to establish this link between NFT and legal agreement and basically legal rights. These things work for any industry. Basically, musicians keep their rights on the music they produce, and the same goes with filmmakers, makers, artists, and so on. They just transfer their rights from their legal framework to a blockchain framework. Now they own it in some country or in a legal jurisdiction, and in the blockchain, they own it with their account, owning the NFT. Okay, so that was a pretty hard one to answer, but I hope you’ve got some idea.
How you think DEIP can help achieve the protocol to attract new users and entrepreneurs during the adoption of Web 3.0?
Yeah, so we are launching our accelerator. We will be basically giving grants and investment to people who want to become Web 3.0 entrepreneurs, who want to build Web 3.0 businesses on top of our ecosystem and infrastructure. This is how we will be bringing in people who don’t even have experience in Web 3.0. Especially people who do not have experience in Web 3.0, we will be teaching them all the necessary skills. All the necessary knowledge will be transitioned to these people so they can basically be an extension to our team. We want to bring these entrepreneurs to the Web 3.0 industry in general, and into our protocol specifically.
Given that there are many competitors for DEIP in the Web 3.0 segment, how is it different from other projects? What is its uniqueness?
Basically, our main differentiator is that we’re really focused on creators. We’re really focused on how to bring value to creators. Another one is that we provide full end to end infrastructure and really help to create projects and applications on top of our protocol. We have all the necessary tools and resources within our ecosystem to help people, even with zero knowledge about Web 3.0, zero knowledge about programming, to become a Web 3.0 entrepreneur.
What will be the risks/opportunities for being deployed on NEAR protocol? Are there any future layer 2 solutions for creators?
So, risks and opportunities, basically, we’re technically we’re not deployed on NEAR. We have our own chain. We just bridge with NEAR through a relay chain protocol, Octopus Network. It gives us a lot of opportunities, because first of all, Octopus provides us with validators, so we don’t need to worry about this. But secondly, all the assets which are issued within our network, they’re immediately bridged to NEAR. You can really bridge it immediately. This gives users of the DEIP network and platforms built on the DEIP network access to the whole NEAR ecosystem and all these beautiful projects already created in the NEAR ecosystem, like DeFi projects, NFT projects, DAOs, and so on. That’s basically collaboration between two ecosystems, our ecosystem and the NEAR ecosystem, and this is a synergy between us. Yeah, and what are the risks? There’s obviously risk because we’re kind of dependent on the NEAR ecosystem, because if it stops, for example, if something blocks NEAR chain, our validators might have some problems. But it also can be mitigated. And so far, NEAR is the most reliable blockchain on the market.
Do you think that blockchain technology could be adopted by governments to protect sensitive data like the identity of intelligence officers or to develop technology/other information which, for example, the military wouldn’t like to share?
It’s an interesting question. First of all, blockchain technology definitely can be adopted by governments, and it’s already being adopted by governments. Governments are building CBDC, and governments are building national blockchain infrastructure. You can take a look at the European Blockchain Services Infrastructure. Basically, governments already are looking into this industry. Unlike some people from blockchain industry who do not like it, I really like it, because it will also bring adoption to blockchain in general. It could be a bridge between public blockchains and permissioned blockchains of governments. But anyway, this will help to transition regular users to a new blockchain based infrastructure. Then it will be easier to also bring them to public protocols like NEAR for example, or the DEIP network. Yeah, and definitely there are a lot of things on how you can protect sensitive data with blockchain technology. Actually, self-sovereign identities and verifiable credentials are really great technologies for this.
Do the token holders have right to participate in the governance of the project? What kind of decisions can they vote on about the projects? Do you have any plans to create other features like yield farming, staking, or NFT projects? Can you explain in more detail?
Okay, sure. With the DEIP token, you already can vote for council members, and you already can participate in some steering of Ecosystem Funds. Also, this year, we will be launching yield farming, and you will be able to stake DEIP tokens on specific industries and basically earn profits from this industry, but also steer capital redistribution within the network, and basically increase the proportion of specific industries in which you want a stake in. Also, we will be introducing different ways of participating in the governance of the network. For example, in our Portals-builder Program, we will be selecting projects whom we will allocate funding to. Basically, we have plans to also let the community vote, either with their DEIP token stake, or maybe just the one person who wins the vote, or maybe a combination of these two models. We will see. But we definitely want to give more and more and more governance rights to the community, because this is basically the whole idea of decentralisation, and the whole idea of giving control of the network to creators and to the users of this network.
Okay, once again, thank you for your questions. We will definitely be doing this again because I really enjoyed reading through all those questions. Some of them were really, really sophisticated. I needed to select the top three questions. It was a really hard choice, but I did select the questions about how the blockchain requires technical knowledge, about disagreements between founders, and also about the authentication of IP assets within the DEIP network. These are the users who will receive the rewards for their questions and receive the top three places. Congrats, guys. Keep it up, and participate in the next challenge and the next Q&A as well. Also, I want to tell the whole community, I know that you are really, really waiting for when the IDO will be and when we will announce the date. I want to tell you that it’s really, really soon. We’ve already fixed in the date of the IDO. We will not hesitate and will not keep you waiting anymore. So, really, really soon, you will know the date and some details about the IDO. Just follow us on Twitter, on Telegram, and you will be among the first who will receive this information. Again, thank you for participating. See you in another video and another interactive video conference with our community.