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Pylon Networks’ Eterbase Exchange AMA – Full Transcript

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Pylon Network AMA

The following AMA transcript has already been kindly typed up by Eterbase Exchange on their Medium Channel.

On Friday December 6th, the Pylon Network team ran an AMA hosted in the Eterbase Telegram group.

pylon-eterbase

Full Transcript Below:

This is the recap of the AMA from Pylon Network on 06–12–2019 in the Eterbase official telegram channel. The team answered a tremendous amount of questions in a very in-depth and thorough way, which truly is a joy to read. We want to thank the Pylon Network team for their participation.

And the winning question chosen by Pylon Team is:
“Hello Pylon Team…I know that you have built your own Pylon blockchain which is great and i am sure a lot of hardwork would have gone into that….Was there a need for that? Could we not have used one of the existing well established blockchains?”

By Cryptonovice.
Please contact the admins on @eterbaseexchange to claim your reward.

Introduction: Nenad
Welcome the Pylon Network team to our ecosystem.

Today with us we have:

@Gerrybel (CEO),

@Agus_RB (CTO),

@eugenioM (CMO),

@marfeldev (Lead DEV),

@MarkosD (CCO)

Welcome gentlemen, pleasure to have you here with us.

Introduction: Markos Romanos
Thanks @NenadRistic

First of all, thanks a lot for providing us this opportunity. Wanted to highlight how happy we are to be part of Eterbase! We see a lot of fruitful ground from this cooperation and we are looking forward to a great partnership for the future.

Of course, we are also super excited for having the chance to present our project to the Eterbasers — thank you all for being here with us :).

Introduction: Nenad
Can you give us a little introduction about yourself, your roles and the idea behind Pylon?

Introduction: Markos Romanos

To start with I wanted to offer a bit of a background information about Pylon team:

We are a team of engineers and developers, who have been working together for the past 4 years, starting as a GreenTech startup (“Klenergy”).

Our paths crossed at different stages and countries but, what glued us together — and has always been our motivation — is the realization that the true value of sustainable technologies (at local, national and international level) goes unrecognized by the energy markets.

With this team, we have evolved and grown together; Pylon Network, has undoubtedly taken us all through an exciting journey of market validations, testing new business models across the supply chain of energy sector.

Through these invaluable lessons and knowledge that we have collected, we find ourselves today, having a very clear perspective of the immense potential of blockchain technology for transitioning to a more fair, transparent, inclusive and more efficient energy system — and of course, a more sustainable future.

Throughout all these years we are proud for continuously innovating, growing and re-inventing ourselves. Pylon Network has brought us to the forefront of innovation, recognized by the energy sector.

This, of course makes us happy and proud — since it is something that we have worked very hard for. However, what makes us most proud is the ability to attract multi-disciplinary experts and professionals around the project and believe in it and in our team, becoming stronger and wiser every day!

The core team of Pylon Network is comprised of: @Gerrybel (CEO), @Agus_RB (CTO), @eugenioM (CMO), @marfeldev (Lead DEV) and myself (CCO). I will let everyone offer a short introduction about themselves: their background and their responsibilities/ roles in Pylon Network.

WHAT PROBLEM ARE WE SOLVING?

To start with, there is an overall problem with data collection as the availability of data is usually owned by a few companies and sometimes just a siling entity, making it massively centralized. In addition to this, the access to this data is severely limited, which creates market barriers that invites monopolies and higher prices instead of competitive rates to benefit the consumer.

If companies want to share data or when consumers want to retrieve data this is often a difficult process, if the data is even accurate or present. Data issues result in lacking services to the consumer that mostly benefits the company issuing the data or energy instead of prioritizing the consumer or worst yet, the usage of energy itself.

HOW ARE WE SOLVING IT?

The Pylon Network uses a neutral energy data hub which allows for simple, energy efficient, and transparent data sharing between energy models. The network would establish a communication platform for markets to share, transmit, and engage in energy based services which can increase overall integrity, save on costs, and provide customer based efficiency.

There are two tokens associated to the which blockchain platform which help operate the system and rewards its users. One of the tokens, Pyloncoin (PYLNC), is a token which reflects the utilization of energy data from Pylon’s Neutral Energy Data Hub and is used to distribute rewards based on the work of the nodes owned by participants of the network. The second token, called the Pylon Token (PYLNT) was the method used to originally finance the Pylon Network and is used to determine the amount of benefits they receive form the Holder Nodes based on how much they own. In other words, PYLNT represents the tokenized ownership of the first (federated) nodes of Pylon Network.

All the relevant information can be found in our Token Paper, here: https://pylon-network.org/wp-content/uploads/2019/02/TokenPaper_PYLON_ENGLISH-1.pdf

Q: What are your future plans and market implementation efforts?

A: Markos Romanos

From the beginning of the project our focus has always been the real implementation / utility of the project and offering real value to the energy sector / market. Our approach has always been market-oriented, because we think that this is the most common fallacy of blockchain projects — often blockchain appearing as a solution looking for a project. And as we have always been clear, it is not a priority for us to burn money to create a pump or bring some short-term attention to the project — since it is not a sustainable way to evolve the project. We want organic growth with real stuff working and real people, as users. So in short, our main marketing effort is the implementation of the project in the energy market. And we are very proud to have identified and achieved that with our focus on energy communities and collective self-consumption — a space that is booming at the moment, not only in Spain but EU-wide.

Now, with that said, of course we recognize that marketing is also important and when effectively combined with the implementation and adoption, it can work wonders. Our strategy in regards of that is to gradually make the availability of the token easier (joining Eterbase is towards that direction), developing an ecosystem of cooperation with developers, institutions and public organization, and raising as much awareness as possible around the project in the crypto space.

Until recently, we have been working mostly under the radar, developing the tools & services that can add value to current chain of the energy sector. Over the past few months we have started changing our approach as we are intensifying our commercial and technical efforts in the energy sector.

So in summary, regarding the token and the coin implementation in real life is our ultimate objective. However, to achieve that, first we need to engage companies and customers and start working with them. We already have a great use case with the market of collective self-consumption (which we announced at the beginning of last month.) We are sure that the most important is offer value to the customers and after we will be able to offer value to the investors.

We are working on a number of use cases, and the first one will be the collective self-consumption (autoconsumo colectivo), the first real and legally implemented p2p blockchain project were consumers will share the energy between peers, locally.

In terms of real users (from the electricity sector), we are currently offering our first services to customers in Spain however, the MainNet has not been launched yet and I cannot disclose too much info regarding that (at least for now).

Early last month we announced our pilot on collective self-consumption scheme in Spain (interview with the manager of the installation here: https://twitter.com/pylon_network/status/1190192940490080256?s=20) and this is a market we are very focused on, since we have identified a real use case for our blockchain technology.

In terms of the market, we are currently based and active in Spain. Our future expansion plans include the neighboring markets of France and Portugal, who are also aligned with our focus on energy communities (we have validated already our business model and replicability in these markets).

Q: I think the security is the most important thing of a project . What about you ? What is the most important thing you are focus on ?

A: Markos Romanos
Of course security is always important. I would say besides that, the regulations is another very important aspect that we are very focused on (both for the energy and the crypto sectors)

Q: What is the use case of $PYLNT tokens in Pylon Network?

A: Markos Romanos
In short, the token is an ownership of the project (federated nodes) and the coin will be used for the companies to use the BC neutral database. (see my previous answer too).

Q: Hello Pylon Team…I know that you have built your own Pylon blockchain which is great and i am sure a lot of hard work would have gone into that….Was there a need for that? Could we not have used one of the existing well established blockchains

A: Markos Romanos
We have actually addressed this matter by taking away the need for additional hardware. We validated that early on and managed to find a solution, where no additional hardware is needed. At the moment we are able to access all the existing infrastructure in Spain, which of course increases the adoption potential of the project. These are developments that we have been working under the radar and bring a lot of value to the project, so thanks for asking that question :).

Regarding the blockchain infrastructure we had to deal with several bottlenecks like scalability, speed and energy demand (plus governance issues that might appear). For adapting to the energy sector, which is a sector with many peculiarities and very traditional mindset.

Q: There have been many scalable-based projects with solutions for both Grade 1 and Grade 2! So, why would Pylon be the best choice?

A: Markos Romanos
It’s true that the energy sector there are a few other blockchain projects (not so sure I would agree that they are all scalable or have a large-scale use case, though)

I would say in summary:

* Blockchain designed for the energy sector — high speeds and scalability combined with negligible energy demand

* No added hardware (meters) needed — able to access all utility meters in ESP (~28M) and developing the same capabilities for France and Portugal. At the same time, we can integrate and access the production data, from any RE installation and/or batteries.

* Validated the replicability of the model in other EU countries — namely, Portugal & France.

* Avoid dependency on 3rd parties and other blockchains (e.g. Ethereum)

* GDPR-compliant — End consumers are in control of their data.

* Fully open-source and open-standards infrastructure, able to accommodate data from all kinds of sources and stakeholders.

* First movers in Spain — energy data accessibility and collective self-consumption.

Q: #Pylon_Network Blockchain claims 100% energy sustainability! Well, can you prove it to me?

A: Markos Romanos
The energy demand of our blockchain is negligible — 0.002 Wh/tx — which is less than what the standby mode of TV consume. So in that sense it is very sustainable!

Q: What are the major use case of Pylon Network! In which industry it can make huge impact or futuristic benefits?

A: Markos Romanos
See previous response on that, regarding the energy communities. Also have a look at this video: https://twitter.com/pylon_network/status/1190192940490080256?s=20

And over the following months we are going to release a number of explanatory video and educational material in respect of that — to explain better the value of Pylon in this use case.

Q: One of the biggest problems with DApps is the inactive and useless state. People only create DApps but it has no use case or contribution to the blockchain ecosystem. To prevent and resolve this problem that may occur on the Pylon platform, what will your team do?

A: Markos Romanos
Very right. We actually got that lesson through our intense market validation effort. In short the solution for that is to be market value-driven.

We need to keep in mind that technology needs to serve people — normal people. We have learnt to design technology for our mothers! Making it as simple, personalized and most importantly, valuable for people’s life and the operation of energy businesses

Q: As an investor and early adopter, I find it difficult to access / evaluate a project in the short term and require a longer time to fully understand, recognize and appreciate it. So, to help me understand, could you tell me which plans are set in motion to add value to Pylon?

A: Markos Romanos
As explained earlier, our main strategy (which we also think is the most sustainable for the long-term viability of the project ) is to implement it in the real market and offer value to real users (consumers and businesses).

We are already offering commercial services in Spain (and soon France and Portugal), we are building partnerships with stakeholders from the energy sector, continuously validating new markets and new segments within these markets.

Our strategy is to continue doing exactly that!

Q: The Chinese Chairman Xi Jinping recently made a positive speech about blockchain technology. What do you think will change in the world’s future and how may it impact Pylon Network?

A: Markos Romanos
I think there are clear signals that regulation is on its way (and China is a shining example of that, besides the encouraging comments).

For us it is not a big change, since the energy sector is HEAVILY regulated and we either way need to adopt to them.

Q: How Eterbase & Pylon Network associated with each other? Who is gettings more benefited?

A: Markos Romanos
In Eterbase we found a promising partner for the future that understand the needs of a project that focuses on commercial implementation. They cover a huge gap that we had identified ourselves and we are happy to have found it.

I think that because of that — and as we scale up our commercialization efforts and traction — the benefit will be mutual 🙂

ROUND 2

Q: 1.Why did you create two assets PYLNT and PYLNC? How they differs?

2. Why was the METRON App created? What is it currently available for? How can basic users benefit?

A: Markos Romanos
1. The double asset model was decided after carefully considering the potential use cases and their legal aspects and implications. It was designed to allow for flexibility in terms of the range of application in the energy sector and the alignment with energy/financial regulations in Spain (and the EU, overall)

2. The METRON app was initially developed for the demo stage. It was combined with our METRON smart meter, which was designed to provide the consumers with next-generation information about their consumption and help them participate in the energy market.

However, as mentioned before, we identified ways to avoid the cost of the hardware which was clear that would be a potential barrier for adoption

Q: Hi! Thanks for doing this AMA. Who do you see as Pylon’s biggest competitor(s) in solving this problem and how is the main strategy of pylon network/klenergy different to their approach?

A: Markos Romanos
There are a number of projects, as I mentioned before. Our main approach is to always have as our number one priority the ability to offer value right now while following a consumer-centered approach. Not all projects follow this approach.

Another strategic approach for that is our open ecosystem, and open source technology. We are here to instigate cooperation and minimize any frictions that usually appear when competitors try to cooperate.

Being first movers in Spain and by building this ecosystem from the bottom up, is the strategy that we believe is the winning formula. And we delighted to have already results in that respect.

Q: What is the benefit of holding PYLNT? Can you give us an example of the type of rewards i will receive and the source for such rewards? I also see that the token supply of PYLNT is very small which is very interesting. I am surprised that a project which has made so much progress has such a low market cap < 500K USD. What efforts is the team taking to increase the awareness of Pylon in the Crypto community to attract new investors?

A: Markos Romanos
As a PYLNT holder you are practically owner of the first federated nodes of Pylon’s Neutral Data Hub. In that sense you receive PYLNC as reward (as all federated nodes), which is the native coin of Pylon’s ecosystem. PYLNC is primarily used to represent the utility of the neutral data hub for certifying data transactions between the stakeholders of the BC platform.

For interacting with Pylon data hub (the BC) — and exchanging data within the blockchain architecture — you will need to pay for its utilization in PYLNC. In other words, the more data available (and data exchanges occurring) through the neutral data hub, the higher the need for PYLNC.

Regarding the awareness, is something that we have been stepping up over the past months, as we increase our commercial effort. We have been focusing a lot on the market implementation and not so much on pure crypto-promotion — which I believe is the main reason why the project has not gained the recognition and exposure that it deserves!

We believe that demonstration is the best way to raise awareness (and we are preparing some cool stuff, which will soon be public). At the same time, we are making an effort (together with our great community) to become more loud in the crypto space too.

Q: Can you list 2–3 killer features of Pylon Network that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?

A: Markos Romanos
– TECH: Demonstrated speed, scalability. Minimal energy demand. Open source.
– MARKET: Real use case. First movers in Spain. Consumer-centric approach. Generating revenues
– REGULATORY: Fully compliant with EU energy / data privacy regulations

Q: No Project is PERFECT. What do you think is the biggest WEAKNESS in Pylon Network project ? What’s your strategy to overcome these weakness ?

A: Markos Romanos
Our main weakness as all the blockchain projects, I believe, is the adoption of the technology.
The main problem is not technical, the main problem is the implementation of the technology to address real needs and also an attractive and disruptive business model (operating within the regulatory framework).
We think that most projects / investors are looking for short term value. However, to develop a disruptive solution it is mandatory to understand the market, the customers and the regulations and be as quick as possible adapting your solution to the new insights and changes.
The only one that is always right is the customer and we need to be able understand their needs.
We need to start putting the tech on their hands and they will be the ones to help us develop a complete product and value proposition.
Our strategy is to be as much connected as possible with the market, regulations and the customers and start solving their problems and learn as much as possible — together with them.
Our next milestone is help the spanish citizens to share a common installation and we are completely sure that with their help we will have a robust and disruptive business model and range of products.

Q: Great idea to start with something and from there develop the future . So can you tell everyone about the experience and talents of the team members?

A: Markos Romanos
The core team runs with fuel of passion, curiosity and immensely hard work.
We have invested a lot into it and we are the first ones pursuing the success of Pylon.
To achieve that we have started surrounding the team with the expertise that we were missing in all the fields helping us go smoother and increase our learning curve.
We are working with experts in differents fields; business strategy, blockchain regulation, energy market regulations, energy marketing, technology experts and the most important, our first customers that help us understand the real needs and help us to identify the way to address their needs.

Q: Does Pylon Network have any competition in decentralized or centralized manner? Why it needs to be decentralized!?

A: Markos Romanos

The overall problem with data collection as the availability of data is usually owned by a few companies and sometimes just a siling entity, making it massively centralized. In addition to this, the access to this data is severely limited, which creates market barriers that invites monopolies and higher prices instead of competitive rates to benefit the consumer.
If companies want to share data or when consumers want to retrieve data this is often a difficult process, if the data is even accurate or present. Data issues result in lacking services to the consumer that mostly benefits the company issuing the data or energy instead of prioritizing the consumer or worst yet, the usage of energy itself.
This is the reason why access to data needs to be decentralized, transparent and neutral. And solving the data problem is absolutely necessary to unlock the digitalization of the sector and accelerate the energy transition
Regarding some of the questions that we think are related / overlapping:
First, the trust: the most important for us, taking care of the team advisors, investors, partners and customers. From our point we are working day and night with around 10 customers using the first service developed around Pylon Network (by Klenergy), helping them identifying their energy needs, helping us fund the project and continuing working to achieve our vision and helping us to understand the customers needs to develop the complete solution for energy communities.
Understanding how to share a Renewable Energy installation between neighbours, municipalities and retailers is a booming market and the future of how we leave our lives. Also note that with partnerships that we have already announced — and new ones that are coming — it is the best validation and demonstration of trust.
At the moment we cannot go into full detail regarding our revenues, partners etc. but the short answer is that we are generating revenues and we are using them to continue the implementation of our tech and project (all being things that were achieved in 2019, after the closure of our demo stage)

Q: I really love when someone talks about environment and such. Pylon looks same. Well, if I buy $PYLNT and became an investor. How does it will benefit me?

A: Markos Romanos
By reflecting the value of neutral access to data for the energy market. As a holder you can know that the digitalization of the energy sector and the energy transition efforts are taking place in a democratic and ethical way (remember that data is the oil of this century).

Q: Can you give me 3 reasons why I should invest Pylon Network for long time ?

A: Markos Romanos
In short:
The team
The partners
The market traction and success
(and passing to the next generations a livable planet :))

Markos Romanos
I think I have covered most questions. Of course you are all more than welcome to join our channels / communities and discover more. I tried to do my best in replying everything.
Many many thanks to all of you for the great interest and very good questions (we will have a hard time to choose a winner on this one)
Make sure to follow us on social media for staying up-to-date with all the news and progress of Pylon Network!


Twitter: https://twitter.com/pylon_network
LinkedIn: https://www.linkedin.com/company/pylonnetwork/
Facebook: https://www.facebook.com/pylonnetworkofficial/
Medium: https://medium.com/@pylonnetwork
Reddit: https://www.reddit.com/r/PylonNetwork
Join us on Telegram and talk directly with the team!
https://t.me/pylonnetworkofficialtelegram

For more Pylon Network articles on The Daily Chain see below:

Pylon Network: Introduction to Collective Self-Consumption

The Daily Chain Primers: Pylon Network Introduction

*Disclaimer – Pylon Network are our Media Partners and therefore this content is sponsored by them. The fees paid by this project are used to pay for The Daily Chain salaries, dev work, hosting services, travel expenses etc.. that are required to make this company a success and continue to provide the community with great content on a daily basis.

Alex Libertas
Alex is the Founder of The Daily Chain and has been in the space for just over two years. Fascinated by the community and everything that blockchain has to offer, Alex dedicated himself to creating content and contributing back to the industry.

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