July AMA Transcript

Eric: Hello Matrixians around the world, and hello our CEO Mr. Owen Tao. How are you doing?

Owen: I'm good. Hi Eric, hi community.

Eric: Okay. Anything you would like to share with us about your personal life for July, what happened to you?

Owen: Yeah, my daughter started her summer holidays so, I had to spend some time to be with her.

Eric: Okay, that's a good time then.

Owen: That was my work, yes.

Eric: And how is the Covid-19 in Beijing now?

Owen: Recently it's okay. Better than a couple of weeks before.

Eric: Okay, I hope we get better and better. Alright, so, Matrixians, today is the 28th of July, so as usual we are having this monthly AMA with our CEO Mr. Owen Tao, and so let's just kick it, start the ball rolling. And today we have nine questions from our community, so without further ado, I would like to start with the first one. Owen, “How can people pay the service MANAS? Are they paying in a currency dollar/yen/euro and you have a mechanism to buy Matrix coins?”. This question is from Jerry Hollander. Owen?

Owen: Yeah, I have mentioned in the AMA before and also, we have some article about our business operation about MANAS. So, in our plan we won't run the business of MANAS by ourselves, we have opened the API and the SDK to the community. We hope the community can make the business running for MANAS. They can connect to our API to offer the AI services to their customers, so they can build their own business portal as an AI service platform. So, they can get the currency from their customers directly, and then they will transfer them into MAN, and pay them to the people who offered the computing power, and also the AI services. So, yeah, that's how this business is running in our plan. And also, if you want to use the AI services directly on our MainNet, you can buy the MAN coin directly on the exchanges, and buy the services directly on our own platform, yeah.

Eric: Yeah, so, simply put for using the MANAS services, we need the end users or the merchants to use MAN as the payment, alright. And to get the MAN coins, they have to get to the exchanges for the customers. I think that is simply very easy, we have Gate and we have Kcoin, I'm sorry, Gate.io and also Kucoin, and so it's easy for the global consumers. And if they want, they don't have any accounts in exchanges, I think they can seek advice from their friends and see how to find any go around solutions for them, yeah. And let's go on to the second question, this is from Buzkurt: “Let’s say two GPU mining machines are running on Matrix network. One machine in located in China and the other in Canada. AI resource is submitted. Which mining machine get selected to provide the computing resource? How is the selection made? Note that this is not for mining but for computing resource”. Buzkurt. Owen?

Owen: Yeah. Every time when the MANTA platform would need to send the AI training missions to some nodes, our platform will send a little task to all the nodes who want to join, who want to get this mission. And we the net will depend on how they perform in the little tests, and send the mission to the suitable nodes to run this mission. In our first version, I think the bandwidth will not be very important for the mission, because the biggest mission in the first part is the decentralized machine learning, so the bandwidth will not be very important then. So, I think whether the node is in Canada or in China will have very little impact on the selections. So, that is how we will do the selection.

Eric: Hello, so Owen just answered the second question, and the question is from Buzkurt. And allow me to go back to the first question which is from Jerry Hollander, about how to pay in MAN or how to get MAN. So, aside from the exchanges or other solutions, I think there are many payment gateways or payment… also called wallets, when they integrate the MAN into their wallet, if the system or the payment system provides the on-ramp and off-ramp services then they can use the FIAT to use any service from MANAS, and likewise for other services from MAN as well. And on a larger scale, these kinds of payment apps or solutions they can entertain all the customer that have already crypto, have a crypto wallet, or only as FIAT currency, so there’s sort of a solution aside from what we just mentioned, aside from the exchanges, and other solutions so, it's sort of a payment app. Yeah, right.

Eric: So, Owen, let's go on to this third question this is from Bozkurt, I think Buzkurt and Bozkurt, is it the same person? Yeah? And the question is like this: “Does Matrix have a partner that will setup mining farms to provide AI computing (GPU) and mining resources to the Matrix chain? Also, the partner plan to rent out computing resources similar to what the Ankr blockchain does?” Yeah, I think there are two questions in this question. Owen, do you understand the question or do you need me to repeat it?

Owen: No, no, no.

Eric: Okay, that's good then.

Owen: Yeah, at first, I think our objective for MANTA is something similar to the Ankr blockchain, yeah, it’s something similar. But right now, we haven't got any partners who have already decided to set mining farms to provide AI computing power on the MANTA system because our MANTA hasn't been ready yet. And we have also… We need to do some open testing work before the business are running. But right now, we have already been in touch with some computer companies who have been running the business in the Cloud Computing area, so they are very interested in our project and they'd like to discuss how to introduce their GPU computing power into the Matrix AI Network. So, I think in the near future, yeah, there will be some partners who will set up their farms for our MANTA platform, yeah, I think so.

Eric: Okay, so, let’s put it this way, we do not have any partner yet for the mining farms. And this is good for you if you can do that, so you can be the first one to set up such farms if you have the resources. And second, Owen just mentioned we have some partners testing MANTA, and actually I do have the list, by just waiting for something before we publish, so, yeah, there's something to share with you. And… go on to the fourth question from Kacawote. So, this question is about AIRTIST: “Will AIRTIST be the same as Dalle-2? Will there be a Text-to-Art generator App that will use the Matrix currency?”, Kacawote. Yeah, good question. Owen?

Owen: Yeah, I think AIRTIST is not… It’s different from Dalle-2 because the way it generates the art, the art is very different. AIRTIST is… I'll say they are trained by the people's paintings, so they will create the work by painting as the western painting, oil painting, and the trends painting. But Dalle-2, there’s something like they will cut lots of the pictures and put them together, so they are something different. Yeah, I think there will be a protocol which you can input and text, and you will get a painting in the end. But I don't know if it will/should be an app or a dapp. For the Matrix currency so, as I know, AIRTIST will be set up on the Ethereum Network, but it will use the Matrix IPFS and also the decentralized computing. So, the people who have offered the computing power to the artwork generation and also the IPFS storage for the art to be stored, they will get paid in MAN.

Eric: Yeah, so I think it's two things: one is Ethereum for business consideration because they have to reach to all this network as large as possible, so that means it’s good solution. And because they’ll have to use the computing resources from Matrix so they will use MAN as the currency for that, yeah. So, fifth question is from Hakan1629: “Hello, I wrote before but you didn't reply.” Alright, sorry about that. “Our web wallet is very slow and stagnating.” (Meaning slow). “Even staking is very difficult, it gives an error. I've been a Matrix investor for a year but still such minor issue has not been fixed.” Hakan1629. Yeah, Owen?

Owen: Yeah, I think this should be a DNS problem, so please send us your address, where are you from, and I think we will fix this problem by our network engineers, yes.

Eric: Okay, so perhaps we can speak with the deafs and then see what kinds of information these people have to provide when they encounter a slow speed of the web wallet, we need to speak with them, okay.

Owen: In fact, if you can offer your IP address, that will be wonderful. But if you want to keep your private information secure, you can send us or share with us your location, I think that would be okay.

Eric: Okay, yeah. And Hakan1629, speaking of the web wallet, some other comments from the community are about the UI, so we will be also looking into this web wallet as well. And please bear with us because we get questions from communities every month so we have to screen them and select for… What do I say… For [something] more interesting to the community, so that's why we have to give more chances to others, and this time I hope that answers your question. And let's go on from Krcl: “Hello there. As we know, Matrix has survived a bearish market. We are currently experiencing a decline. What plans do you have to stay financially afloat in this downturn? What would you like to tell us about this?”. Owen?

Owen: Yeah, I think it is a tough time for the older blockchain team right now because there’s the Covid-19, and we… For Matrix we have done lots of things. At first, we have reduced the other parts, the cost, we will put most of the cost on our development work. And also, we have reached some companies such as the TBEA, and we have offered some development work for them to get some payment back, and also to keep our team running normally. And also, in our opinion, at first, we will do some development work to gain some money, and also we'd like to get some better AI algorithms and models for this kind of development work. We’d like to put them on our platform such as TBEA. We have finished their work and we will add the algorithm from their work into our MANITO platform. And in the future, we’d like to share the MANITO platform to more partners and offer this service to more companies, that's what we are doing right now.

Eric: Okay, thanks Owen. Hi Krcl, I would like to add some points, following that. Matrix has survived not just this bearish market, we have survived for some years, so this is not the first time for a bearish market. And that was for other projects as well. And I think this is the progress for those projects to get mature instead of just hyping, etc, alright. Secondly, I would like to speak from a risk management perspective. We are not a company that tries to lend or make money from others, etc. Just for example, the LUNA thing, we don't do it, we don't leverage, we don't, so we try to focus our effort and our money on the dev work, so we try to minimize the risk. Because, as we all know, the equity market fluctuates a lot and this is something you can say “good” for those speculators, you can say “it’s really bad”, it just depends on how you perceive it. But this is not the first time that we go through a bearish market, and don't worry about that. I think this is a question from other community members as well, and I hope you can get an answer from this question. Budspencer, alright: “Do you have any costumer”, I think it's “customers”, “for MANTA and MANAS, yet?”, Budspencer. Owen?

Owen: Yeah, I think this question should be divided into two parts. First for MANAS, we have mentioned that we would like to let our community to run the business part for MANAS. We will offer the technical support and also the API for all kinds of AI services, so we won't run… do the business operation for MANAS by ourselves so we haven't started to call the business customers by ourselves. We'd like the community to do these things. And for MANTA, we will finish all the development work and start the testing work, we have already invited some companies and labs to join our testing. I think they will be the first group of customers after their testing. And it will include some kinds of companies and also some labs, and we will give you more details in the near future when we have set down all the deals with them, yes.

Eric: Okay, good. And the second last question from C128r729. The question is this: “Do you have any thoughts about taking part in the Turkish market? Are you planning to make an agreement with Turkish stock exchanges?”. I think he's referring to the exchanges like Gate.io or Kucoin since they are not stock.

Owen: Yeah, I think the Turkish community is very important to the Matrix project, and would like to do more things with the Turkish market. So, if you have something resourceful, you can introduce us with exchanges that are doing a good job in Turkey, we’d like to communicate with them and to see how to be listed on them, yeah, I would like to do that. Please give/share with us more information.

Eric: Okay, yeah. So, the answer is positive, if you have resources you can refer to us, then please do share. And the last question goes to Sbblc: “If all the platforms are ready, the payments will be made with MAN. But what will happen with that MAN? Who is getting these payments, where will it be used for?”.

Owen: Okay. At first, if you pay… When you are using the service such as our MANAS platform, or you are using the computing power on MANTA, the MAN you have spent will be paid to the people who have offered you the AI services or the AI computing power, who offered the service to you, they will get the MAN, that's how the business is running. In fact, on this platform, there are some services which are provided by our team, by Matrix development team. So, this kind of AI services, if you spend MAN on these services provided by Matrix team, all the MAN coin will be burned.

Eric: Okay. So, the question… I think the answer to the question is very simple. Think about in your real life, you use your FIAT currency to purchase anything, so this is about the circulation, about the economy. So, it's just… You just put it into a crypto world, and use MAN coin or any cryptocurrency to pay for anything and to use anything, just like what you did in the real life. I'm not sure whether I fully understand your question but it is an answer to that. So, Owen so we just finished nine questions from the community, and that's the end of the July AMA. So, thanks for your time, and thanks Matrixians, and please do share with us your questions, and also if you have any resources, you can submit using the forms that we shared in the group. And stay safe, and be more active in the activities and discussing about our series of education or tech talks, that kind of thing, so do your own research so you can be more prepared for a good market, because someone else mentioned about the bearish market. So, in reality whether it’s a bearish market or a bullish market we have to get prepared for ourselves, from a project perspective or from an investor perspective, and that's important for DYOR (Do Your Own Research). Thanks for everyone, bye.

Owen: Thanks everyone, bye.