The WeOwn team recently hosted an AMA and revealed some interesting things that you probably haven’t heard before.
We’ve got the entire AMA transcript below, proceeded by a short AMA summary if you’re short on time.
- Weown’s focus has recently been on marketing and utility.
- Blockchain 2.0 is being worked on, expect to get to know more soon.
- WeOwn CTO Ermin showcases the business side of the new lending product.
- WeOwn CTO Ermin explains why WeExchange is decentralised and shares more about TX’s.
- WeOwn COO Florian showcases the investor side of our new lending product.
If you’d like to share your opinions, the WeOwn team want to hear them! Tell them what you think – anything from peer to peer lending to mature and private businesses, share your views using this 👉form👈
Is there a difference between an affiliate partner and a referring partner? If so, what is it? The Tokenomics blog post mentions “referring or affiliate partner”.
They are similar, both larger financial services organisations looking to offer their customers lending or equity based solutions and on the investor side WeOwn is partnering with several investment networks. The focus for these partners is not on individuals but rather multipliers.
I recall a while back WeOwn applying for or was going to apply for a bank license of some sort. Is there any further news/progress concerning this?
At this point in time WeOwn is not pursuing a banking license. WeOwn currently works together with partners to ensure compliance (e.g. Mason Privatbank) in addition, WeOwn is currently engaged with several banks and financial services institutions to look at ways to implement WeOwn products. WeOwn will pursue a license if ever needed.
Is real estate still on the agenda once lending is online?
Yes, WeOwn currently has a few engagements with real estate firms and we’re currently looking to productise our platform as a service offering for real estate investment firms. We’re actively looking for partners and clients there.
For Ermin: what is the next plan from the development side? as proud owner of 2 validators i would be interested to know when can we expect to have the blocks of the blockchain stored into a database instead of those (horrible) files? With a database, we will be able to use a file containing the first blocks of the blockchain to avoid resync from the beginning.
This feature has been developed and will go live together with WeOwn blockchain 2.0.
That table shared by Ermin contained a leasing ‘leg’. Could you elaborate more on this in detail. What does it mean, do you have some examples, are there partners/clients already for this, when do you expect to start with this.
WeOwn is partnered with a firm who focus on smart financing and leasing. They utilise WeOwns business, technological knowledge, investor network and in the future will use our technology. Expect to hear more from them once they complete their pilot activities.
Elephant in the room are those vested tokens, already released but ‘on hold’ for one year (October 2020 is around the corner, or so it feels to many). Could you perhaps rethink this vesting schedule and perhaps offer a solution for holders of $.
There are currently no plans for a new vesting schedule. The previously unlocked tokens are not planned to be released in the near future.
How is client contact nowadays due to corona? Do you notice companies you’re involved with putting things on hold or perhaps more rush to get things up and running (like lending)?
We’re noticing more difficult initial engagements as everything has to happen online. This also means that we’re spending less time on the road due to Corona. We have noticed that some investors are now starting to look into alternatives – such as WeOwn’s solutions. in addition, we are experiencing a lot of ‘digitalisation’ inquiries in recent weeks from service providers without a digital presence.
Another elephant in the room are real/specific tokenomics. Is there a reason things are being kept ‘open’?
Our Tokenomics can change over time, we have delivered all products which were stated in the original whitepaper/roadmap and will keep on expanding CHX utility within our platform, products and blockchain. For the moment we have a large focus on business development to ramp up usage of the network. Stay tuned!
The blockchain explorer is already quite transparent and offers a lot of information. However, a sleek dashboard offering all kinds of information about validators, client usage (of chx), chx being locked/staked, whale transfers, top100 wallets, dsr usage (tx) etcetc would definitely be nice for the community to have. Maybe those Tuzla students could look into this?
We are currently working on a dashboard like this, expect a sneak peek in the near future.
Want to share your ideas with us? Please follow this link for the suggestion form!
What do you anticipate short term to drive the utility of $CHX it seems STOS are not really taking off right now despite the favourable legal standing that the blockchain act provided?
The STO space is still struggling with the deal flow and investors sides. From our perspective we expect lending to generate most of the utility for our network. Debt is a much easier to understand instrument than equity for most. Lending and our platform as a service will be the immediate catalysts. STO’s might take a bit of time, but we’re well prepared if things take off.
Will there be any kind of dashboard or statistics available to the public about lending activity? Something like defipulse.com
Yes, this is in the works (as mentioned before).
How has the pilot gone? Can you disclose?
The pilot has been affected to some degree by corona, so things are taking a little longer than we initially expected. We’ve received good feedback and are currently implementing feedback / learned lessons into our tech and product processes.
Will Tigermark also be offered with the lending product?
For lending we first want to explore our collateral pool and see the level of security that we can offer on the investor side. Tigermark will still be offered for equity raises on the WeOwn platform.
Are you able to provide any projection of lending growth?
Keep an eye out. We don’t plan to share any projections in the near future.
WeExchange is going to be fully decentralized (order books, etc) what does it (decentralized) mean for validators?
Nothing will change for validators. We do expect larger volumes once the exchange is live.
Is the decentralized stock exchange going to trade traditional markets? Will it be for European markets what government jurisdiction will it fall under?
In future absolutely yes, and it depends what our partners want to be able to trade on the market. At the moment it can trade WeOwn digital assets, but in future both physical and other assets might be tradable. We don’t see ourselves as a singular one tech market only.
I recall it being mentioned a while back about a traditional exchange partner being involved with WeExchange. Can we still expect this unknown exchange to be revealed at or prior to WeExchange launch?
Yes. The plan was and still is to be able to trade between the exchanges and do cross listings. we will do this together with partners.
Is WeExchange still on development timeframe target? Any other WeExchange updates you can give would be great.
From an engineering perspective our exchange has progressed at a rapid pace. Ermin has previously shared the first images of the exchange on Twitter. we’re currently looking for a partner who can provide liquid markets from the very start. There’s also still work being done on the licensing side of things. We are engaging with several financial institutions and banks to form partnerships for the we exchange. We will share more about this as things progress.
With STOs no running as expected, what do you plan to list on WeExchange?
The initial focus will be on funds and private debt as our immediate assets. As more picks up we’ll be looking to list more. We have recently mentioned that we plan to integrate operability for several security token standards in the future.
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Do you have any suggestions for our upcoming utility dashboard? Let us know here.
Thank you for tuning in, see you next time!🤠