August AMA Transcript
Eric : Hello Matrixians , it's 29th of August. As usual, we are holding this AMA on the regular basis with our CEO, Mr Oven Tao.
Since we have some deliverables and that we would like to make use of this AMA to announce we have achieved and particularly for the topics that interest most of the Community members. Then the second part we will go on to the question and answer sections we have for this month. We have over 90 questions from our community. Some are I think the reason that we have this many questions.
There was some newcomers and they raised many questions which are they can find from our website and but still I am select some of them and then to be asked in this AMA. And in this AMA as usual we have questions and for our CEO Owen to address.
So let's start with the first session which is about the progress that we have made according to our road map.
Owen are you ready to start ?
Owen: Yeah. Hi our community!
Eric : OK, good. So would you like to give us an update about the deliverables according to our roadmap. I think you have some exciting stuff that’s going on there and we’ll just like to hear that. Owen, over to you.
Owen: OK, Thanks Eric.
In the past months we have finished almost all the work in our old road map. And most important work in this matter is to put the MANTA onto our main network. After this work have been finished and we will start to connect all kinds of GPU machine to our main network. Rent our their computing power to gain their rewards such as MAN. And this work has been almost finished and we have already made a list who will be invested to our close testing who will be the first group of partners can use our GPU computing power in our MANTA system. Besides that, and the most important thing in August is as we have roadmap. We have finished the the most of the work of the our completions with the TBEA. Yeah and this project has been testing over nine months and we have already fixed most of the bugs and in the next month the this program will be officially launched. And that’s the most important things happen in the August, I like share to all of you, yeah.
Eric : OK, great.Owen you have many exciting stuff going on. So before I have a summary about this progress, I would like to point by point according to roadmap and see what we have achieved so far. So point one is, actually for the first week report for August it is %99 work with matured platforms for NFT trading. Do you think this will be %100 by end of August ?
Owen: It it won’t be 100%. Because I think they will stil add some details to make it beter, yeah. So in functionally we have already finished all the all the work of this project.
Eric : OK, so the %1 is kinds of fine tune, the functions in case some bugs happens. Am I right ?
Owen : Yeah, until now we can use the all the functions in the the first part.
Eric : OK, great, great. And then second point is an ecosystem of NFT for the trading of computing power and algorithmic models and data. Which is 98% by 15th of August. Can we assume 100% for this by end of the month?
Owen : Until now, in fact, the NFT trading of the algorithms and models and the the data. We have already all of them. And for the computing power, we stil have some space. We can improve our performance. Yeah, such as we can connect all kinds of the GPU computing power to our main network, so we have already finished. You can use it right now but in the future it’s stil be on a long time work. We will improve it and we can make more of most of the details better and better. And also and I think, this project will also be a very important part in our next roadmap. And we will offer more functions and the details about this part
Eric : OK. So can I say that for this roadmap. This function is kind of 100 % finished. Just because we have to upgrade on regular basis and even include in the new roadmap. So we want mark it as 100% because we have some new things to be on, right.
Okey Good. And then next point is about the generalized automatic machine learning, which is 94%. So this part I think most of the community members are most interested at. So could you, do you think we can have 100% by end of the month ?
Owen : Yeah.
Eric: OK. So the main tech can be deployed to the main network by end of the month.
Owen : Yeah I think in the beginning of the next month we will start it to our partners to study the testing work after all of them and we will open it to the public and for the business running.
Eric: And also this included the GPU mining, I mean to rent computing power and get rewards this will be also be on mainnet right ?
Owen: Yeah, and I think in the operation process and they should be lots of improvement work where we need to do in the future such as the money rewards you will get when you rent our your GPU computing power, yeah, It will be a process and I think that the market will give us the the the best price for this service.
Eric: OK, so Owen, are you saying that we can deploy the MANTA to mainnet by end of the month or early next month. It just just because we have to continuous upgrade it. So you may expect some bugs or things like that and also some optimize of functions on an ongoing basis.
Can I say that is my assumption right ?
Eric: OK, good. So to Matrixians I think the answer is clear and to keep more context to this question is because there was a crisis of COVID-19 in Beijing.
There was a crisis of COVID-19 in Beijing. In june, july, these months and that caused the delay of the deliverables of the reverence stage, I think the stage five. So that's why that we have some sort of delay because we have to close the office because of the crisis of COVID-19 back then.
Yeah and now as Owen said we can say that 99% finished because it's ongoing basis we have to keep upgrading it and all the items that we listed in the roadmap have been delivered. Particularly we will have the MANTA deployed to the mainnet by end of the month or early next month. And also there will be GPU mining in the format of renting the GPU power and then get rewards MAN. And there will be improvement towards that.
So I think that concludes the first part of the progress update from Owen and thanks Owen for that.
OK Owen, shall we go on to the second part of this AMA Please?
Owen : OK.
Eric : Do you need to answer the call later?
Owen: No. J
Eric: OK, good. Alright, OK, so 9 questions. The first question is from @chilldiem
“ There are many platforms with the same idea as Matrix AI. So, what great Technologies and features will you offer the community that sets iy apart form other platforms ? What strategy did you use to make Matrix AI worth in the market ?
Owen, I think this is an old question and @chilldiem can refer to many tech talk series that we have, I think on this was one of the questions that I asked in.
AMA last year and then we have a series of articles elaborating this, and you can refer to that part.
To show respect and I will again ask Owen to answer this question, Owen?
Owen: Yes, in fact, I don't think there are many platform as same idea as Matrix AI. And yeah, we have there should be some cloud computing projects, but Matrix AI is very different because we will offer the decentralized the computing power distributed and at the same time we will make the algorithm model and also the data into eyesight or the people who can, they can. We can trade them on any kinds of the blockchain platform. I think this is very different with the other projects, and at the same time because the till now the web, the Web 3.0 is very hot.
In the future, about the web, the Web 3.0 and also the the Artifical intelligence, I think the the privacy computing is very important in that stage.
So in Matrix that we will offer the decentralized computing power, we can keep the that the user stated her and their personal information, various security and so I think we will have’nt lost the advantage in the next stage. So that's my answer, yeah.
Eric: OK,thanks Owen .
I think Chilldiem, you can refer to the previous article series on this what makes Matrix AI apart from others or different from others. You can refer to that article series and just now Owen just mentioned about the web 3.0 and he just delivered a keynote speech in the web three forum and this is another point that he would like to add to this point.
Because the article series, I think it's last year, so there would be some elements. There was a PBT upload to the the announcement and unfortunately it is in Chinese. If you are interested you can download from the announcement and then you Google Translate it and then we can enrich your knowledge on this aspect.
OK, second question from @binzhoi
“ The community is an essential resource for every Project. How are you going to educate the community that Matrix AI you offer them is long term ? Do you have the funs and a strong team to be able to develop this Project in the future ?”
Owen : Yes, I agree with you. The community is very important for every project in till now and in the future. But in our opinion, I don't think that everyone needed to use the Matrix AI Network services directly uh because I think that our the the services we have we offer this about we support all kinds of the applications and the platform.
So you may can use other service and the applications offered by the third party and which is supported by us.
So, to train to educate the communities, very important. We have already operated this project over five years and in the future we will we have a plan to run it in a longer and longer time.
Yeah, we have, we have funds to support the projects and all the target we need to achieve in the future, yes.
Eric : OK. Just something to align what Owen just say is the community is very important and it's critical to all projects and Matrix is a project that is inclusive or open that it it can work with other applications or other platforms and that's our attitude towards the competition or computition When it comes to education.
It's very important. We have been doing that in many different ways. For example, we have regular tech talk series.
We have regular progress updates. We have regular AMAs to provide transparency, and we have different admin forms to collect feedbacks etc.
All this way is to form kinds of bilateral communication between the project team and the community.So we know better what would be the response or what's in the priority of the Community. But having said that, it's not all priority will be the same as the project team and that's what Owen trying to say.
And nowadays, DYOR do your own research is super important, and this is a good sign for the crypto space as it's getting more mature.
And it's not just like you can be a millionaire overnight by just putting some money in the project and then you can get rich easily. It's not like that anymore. So Owen was saying that you can try to use different apps or different products. That you can enrich your understanding about the Matrix AI and when the Binzhoi is talking about the longer term. We have been operating for over 5 years and this is not there are not so many projects that can stand for this long. So we will still be here and we'll be holding a cautious attitudes towards the market and we are still set on set our feet on ground to keep developing. And as Owen just mentioned, it's 99% level, not 100%.
That means we will keep working on that, so don't worry about that. OK, thanks, Owen.
And questions from @stoptaihere
“Tell us a little bit about security ? Have you done an audit of Matrix AI Platform ? Are the smart contracts error –free? What are the test results ?”
I think this question makes sense because there are many more hackings or scams or fishing, particularly for the NFTs. So yeah, I think this question makes sense, Owen, do you have anything to share with us, please?
Owen: Yes. At first, our mainnet had already online almost four years, and we have never met any kinds of the smart contract attacks.
So I think our mainnet is safe enough but I don't think there's anyone who can tell others their smart contract is error free, but I think our mainnet is safe enough, yeah. And also our people our mainnet launches that we have already invited some companies they have audited our some codes in our mainnet such as the the the computing lab in the Qinghai University. Yeah, so I think the security is no problem for the Matrix AI Network.
Eric : OK, Stoptaihere, you can feel relieved. OK about this security issue. Alright.
And from @mercicucu
“ Staking and Yield Farming mechanisms of Project attract a lof of attention for inverstors to earn passive income. Can you tell us about the passive income opportunities and its advantages over other alternatives ?” Owen ?
Owen : Yeah, in fact again, right now the in the our mainnet you can staking MAN to create one validator. Now, so you can run many miner.
Miner knows, which can get rewards MAN already. Yeah, we have this function right now, and in the future we'd like to add more use case for the MAN and maybe more Defi projects or other kinds of projects. You can use mine to do lots of the things and earn more MAN in our ecosystem.
Eric : OK. So should we continue to the next question?
Owen : Yeah
Eric : Okey. Question from @marinebon
“ Matrix AI focused on NFT and Metaverse. So I would like to know why team decided to create Project within the NFT and Metaverse ? How much potential do you see in the future fort he both ?
Owen: At first at the NFT and Metaverse is not the only key target in our next road map but it's very in there will play very important roles in our future plan.
I think, this is not we choose the NFT and Metaverse but the Metaverse and NFT choose Matrix, because you know in the metaverse and also the Web 3.0 world and the privacy computing will be very important and the decentralized world needs lots of the kinds of the decentralized computing power which is we can which is can offered by Matrix.
And also for the NFT products, In our opinion, in fact we don't want to the traditional NFT trading business. We think the the data and the algorithm of the artificial intelligence will be really, really valued assets in the Metaverse world and also the Web 3.0. So that's why we will meet them into the NFT, which is can keep the scientists, their rights. They can make the algorithm and data which is created by them really belong to them and in another hand, they can treat them very easily to get their rewards by their work. Yeah, that's why we will do lots of the work in the NFT and Metaverse industry, yeah.
Eric : OK. Thanks Owen, well said, good statement. It's not we choose NFT or Metaverse, is NFT or Metaverse choose Matrix.
OK, very good point. And so it's just like it's the train of the technology.We just ride on the train and then see what Matrix AI can contribute to this train and right on this train for growth for next date. Yeah, so.
Yeah, so. We can put it that way, yeah. And than @BozKurt
“So far over 4 trilliondollars is invested in BRI. And there are over 4 thousands project active on BRI, has Matrix involved in any one of those projects ? If yes, how?
Hey BozKurt, you should have read our article series. We have I think at least three series talking about this and have a summary on this.
But anyway, I'm ask in Owen to see if any new insights to share with us, Owen?
Owen : Yeah, the BRI is very huge program in Asia and it includes lots of the projects for Matrix right now we have the most important part we have involved is about the resources and the such as the smart electrical platform and such as the project we have cooperated with the TBEA
Yeah, we will offer lots of the artificial intelligent algorithm in the, such as the the mining industry in the in west part of China and also the such as the electrical industry. Yeah we will offer lots of the algorithm and models in this part and after that and the all kinds of the services that all kinds of the algorithm we have done we will put them into our MANITO platform and in the future any, factory or any group who need this kinds of algorithm and services that they can use them by through our Manito platform. Yeah, that's what we are doing in the BRI project.
Eric : OK.So yeah, Bozkurt refer to a previous article series in you would be excited.
And from @Jerry
“Hello Owen, in the hashrate it looks like sometimes APOCs are active, they take a lot of rewards. Matrix is maintenance some APOCS right? From who are this Apocs because of owners get a compensation ? I want to understand what happened with this APOCS and who get the rewards?
Owen : And the first day, uh, this apocs when its announced, the users in our community they bought them a couple years ago and the owner of the apocs will get rewards. Yeah.
Eric: OK, so we don't know who got the rewards. I mean, we definitely let the owners who purchased the APOCs and for Matrix, we are just out of goodwill to provide free maintenance because the money machine companies is no longer in service so that's our stand. So Jerry who got the rewards, it would be the APOC the mining machine owners who purchased and I'm not sure whether we have published or not yeah but definitely we are provide kinds of free maintenance for these owners to owner. Kinds of purchase or alike even the green machine Companies are no longer in service. Yeah, there's our stand, yeah.
Alright, again @BozKurt
“ One year from now, how many GPU mining machine, do you expect to provide Computing resources to Matrix Blockchain ?”
So one year from now, meaning 2023, how many GPU mining machines do you expect to provide computing resources.
Owen: Yes, a question is hard to answer for me. We have already reached the some kinds of the cloud computing center they'd like to share their computing power, they'd like to connect them to our mainnet with our MANTA launches and also, we have already found some customers. They will use our MANTA platform. So I think in the In the coming year, I think that the first target for us that we would like to introduce the enough GPU computing powers into our network which can support the the applications and the partners they meet their need yeah, in the coming year, such as some companies they have already decided to use our MANTA platform.
So that's our target. I don't know the exactly number is, but this is our target we need to meet. Their need at first, yeah this is our guideline, our basic line. Yeah.
Eric: OK, sure. Let's go on to the last question from @omer55yuksel.
“You announced partners such as BEDU,DEYANG, TBEA… Isn’t crypto illegal in CHINA ? How will you receive payments from these partners with MAN ?
Owen: Yeah, The thing is you are right. Yeah, at first the crypto is illegal in China. And the correlation with these kinds of the company or the government, we will divide it into two parts. The first part is the development work such as we will design some kinds of the algorithm the artificial intelligence algorithm for TBEA and maybe government in this kind of the corporation they will pay us by the the the official currency yeah.
And in the other hand if they they like to use our computing power in the future to support the algorithm we provided to them they need to use MAN but they will pay us directly. We have some partners, some the third party partners, companies. They will offer the services, they will get the currency from them, and they will translate them into the MAN, and pay, and we will distribute it to the users who will you offer the computing power. Yeah, that's how the business will running, yeah.
Eric: Thanks Owen. So yes, there's a total of nine questions to be addressed by Owen and that concludes the second part of this AMA and that also concludes this AMA as well for August.
OK, so because of the COVID-19, we have sort of delay and now we're kinds of 99%. Then by the end of this month or early next month, the MANTA will deployed to the mainnet and then there would be testing partly as well. We have announced that for the GPU mining it would be in the form of the renting the computing power and get rewards in MAN and there will be also available together with MANTA.
Yeah and Owen has address nine questions from the community and I think one point is very important is we hold an open attitude towards any competition or partnerships and it's too early to say any competitions, I think, parties can along together and education is super important and that's what we have been doing that and we will keep doing that.
Yeah, and for the technology part it's the train of the time and of right on the on the train and then grow ourselves and grow our community.
And we have been active in the BRI. We have been working with partners and they will pay our service in other formats just like Owen described so don't worry about that and as far as security.
Safe OK, and that that's the end of the AMA, thanks Owen. Thx Matrixians
Next time send us your questions and we'll screen them and then select them and then choose them in the AMA in september Thank you very much and have a good time, bye. Bye, Owen.