On December 4th 2020, we had an AMA with Findora - a finance, confidential network with privacy-preserving transparency.
At CryptoFamily Group, Founder of the project – Lily Chao – went live to greet the community and gave insights to topics about Findora platform, and share some hot new events of Findora in the upcoming time.
Time: 10:00 GMT+7 04/12/2020 at https://t.me/CryptoFamilyGroup
Airdrop 200$ including 2 parts:
– 5 Questions in Google Form (200$ each)
– 10 Questions in free-asking (10$ each)
Here I would like to write a summary of the main points of the AMA session:
CF: Please introduce something about your team and Findora. What are the competitive advantages of Findora compared to other projects in crypto space?
Findora: First of all, let me tell a bit of myself: my name is Lily Chao. I founded the Findora organization along with John Powers, the former CEO of the Stanford University Endowment Fund. I am quite well connected as a young entrepreneur and investor active in Silicon Valley and Asia Pacific Rim.
Before founding Findora, I have a successful track record of investing and advising in early stage tech businesses and providing financial advisory to growth stage tech companies both in the US and in Asia. My expertise is in privatization, SPAC, merger & acquisition.
Being tech-savvy generation who seeks to disrupt and improve legacy businesses, as opposed to following their lead, I am the original thought leader, along with the late John Powers, that devised the strategic and product vision of Findora Foundation. With one foot in Silicon Valley and another in the broader Asia-Pacific rim, I have seen the ways technology can create real world solutions across all corners of the globe. In my leisure time, I enjoy cooking, shopping and off-roading.
Findora is a globally trusted financial infrastructure, owned and democratically secured by a decentralized network of worldwide organizations and economically incentivized parties. Findora was created to enable the creation of financial services that are transparently operated while preserving user and institutional privacy. Created by a team of Stanford academics and entrepreneurs, including John Powers, former CEO of Stanford’s USD $25 billion endowment fund, Findora will be accessible to anyone in the world, whether individuals, small and medium enterprises, or industry giants. Our team has extensive collaboration with leading cryptographers in the world and our comprehensive cryptography library includes implementation of state of the art Zero Knowledge Proofs such as Plonk, Bulletproofs an Supersonic. For more information, visit www.findora.org
Today’s Findora is a well rounded organization. We have renowned crypto team. Our research center is advised by Dr. Whitfield Diffie, 2015 Turing Award Winner!
There are a lot of things that set us apart including technology, product, problems we solve and the team and the market strategy. Speaking about the competitive advantage, I wanted to focus on the technology and product: Findora represents the cutting edge of applied cryptography blockchain technology: we are aiming to bring breakthrough to Web 3.0 rather than incremental improvements. The problems we solve and the technology we use make us very unique: we use a variety of the newest trustless and efficient zero knowledge proof techniques to bring efficient confidential/anonymous asset operations/transactions to an open blockchain; we use the similar technology to create confidential identity and credentials for open blockchains; we use the best in the class zkSNARKS to create optimized ZK Rollup services to help scale up the entire blockchain sphere; we innovatively use a variety of authenticated data structures to make a highly efficient new blockchain.
In addition, people are always the core of Findora’s competitive advantage. Our founders are well rounded financiers with a strong network. We have one of the strongest cryptography research and implementation teams in the industry. Our experts have a combined knowledge across general cryptography, zero knowledge proofs, privacy preserving multi-party computation and hardware acceleration. Our business team is top notch with experience in fund management, wall street investment banks and risk management: we not only work with crypto projects but also financial institutions and tech companies across cloud services, banking, enterprise software and payment processing. Our Findora Advanced Research Institute is advised by renowned scholars such as Dr. Whitfield Diffie, 2015 Turing Award Winner. We are confident about Findora’s unparalleled capability to push blockchain to the next level.
CF: Thank you for the detailed introduction.
2. Share with us the vision and goals of Findora in the near future.
Findora: Our long term vision is actuallly: Blockchain eats financial world. Or we commit ourselves to building a global decentralized financial infrastructure that everyone can fairly access. It is beyond being the leading project to provide asset transfer tools. It is about to move all financial assets in the world: currency, equity, debt, derivatives onto the blockchain. Our near term goals are to successfully deploy the Findora blockchian and develop an ecosystem that also include enterprise adoption.
CF: 3. Are there any upcoming plans or hot events to attract more users in the Vietnamese market?
Findora: Yes. We are rolling out Ambassador programs in Vietnam and we are seeking opportunities to work with Vietnamese companies to help facilitate innovative financial services such as lending, cloud banking and private asset marketplaces. We will soon launch our anticipated public sale and for sure we will have a lot of incentive in Vietnam market.
Please message me directly if you have any suggestions, dear Crypto Family members!
CF: Thanks for all the above useful information. I believe all the members here would love to hear more about the project, and they have many questions submitted to our Google form today.
I will choose some good questions from the form carefully for you to answer them directly here in this group. Take your time, please!
Question 1 form @fabanh
According to the management of Findora - What is your Findora competitive advantage or the source of the Findora competitive advantage - and they will drive the success of the project over the next years.
Findora:
There are a lot of things that set us apart including technology, product, problems we solve and the team and the market strategy. Speaking about the competitive advantage, I wanted to focus on the technology and product: Findora represents the cutting edge of applied cryptography blockchain technology: we are aiming to bring breakthrough to Web 3.0 rather than incremental improvements. The problems we solve and the technology we use make us very unique: we use a variety of the newest trustless and efficient zero knowledge proof techniques to bring efficient confidential/anonymous asset operations/transactions to an open blockchain; we use the similar technology to create confidential identity and credentials for open blockchains; we use the best in the class zkSNARKS to create optimized ZK Rollup services to help scale up the entire blockchain sphere; we innovatively use a variety of authenticated data structures to make a highly efficient new blockchain.
In addition, people are always the core of Findora’s competitive advantage. Our founders are well rounded financiers with strong networks. We have one of the strongest cryptography research and implementation teams in the industry. Our experts have a combined knowledge across general cryptography, zero knowledge proofs, privacy preserving multi-party computation and hardware acceleration. Our business team is top notch with experience in fund management, wall street investment banks and risk management: we not only work with crypto projects but also financial institutions and tech companies across cloud services, banking, enterprise software and payment processing. Our Findora Advanced Research Institute is advised by renowned scholars such as Dr. Whitfield Diffie, 2015 Turing Award Winner. We are confident about Findora’s unparalleled capability to push blockchain to the next level.
CF: Question 2 from @havyza
For any blockchain token to be truly successful it must have real utility. So what are the uses and functions of Findora token what roles will it play in Findora Ecosystem?
Findora: Findora toke plays a pivotal role in Findora ecosystem. Such token is the ultimate representation of the utilities on Findora blockchain. Our token economics is designed by experts in game theory, computer network economy and financial engineering. The goal is to make sure the token will directly reflect the growth of the network and the aggregated asset scale on the network while keeping reasonable scarcity. In addition to the common use cases of the tokens such as staking, gas fee, block creation rewards etc, such tokens are also being required for L2 liquidity mining, asset pooling, deployment of commercial applications and side ledgers, and more. For instance, the enterprises that deploy side ledgers for multi-party supply chain finance, trade financing, equity swap trading and KYC management will be required to pledge our system tokens. The tokens will also be used for running ZK Rollup nodes to share the revenue.
CF: Question 3 from @nhatlak
What are some of the major achievements that the Findora project has achieved and what milestones are planned in the upcoming years?
Findora: Our main achievements so far:
1. invented a very unique DAO, DeFi fund management system that supports privacy preserving asset operations voting/onchain governance. We believe such blockchain based organizations will change the world;
2. be responsible for discovering one of the most efficient trustless Zero Knowledge Proofs systems;
3. has built an entirely new blockchain based on the newest ADS technologies from the ground up purely using Rust + WASM;
4. completed one of the world's most comprehensive cryptography libraries- ZEI. Planning for the end of this year/next year!
---- Launching mainnet! We are ready to go!!! Milestones for next year include:
1. Address Identity layer implementation
2. Phase I asset policy language and restrained virtual machine. In 2021, we will focus on the phase II mainnet (RSA accumulator based storage optimization) and the DeFi infrastructure. We will deploy ZK Rollup, Accumulator based storage, confidential liquidity bridging and Dark Pool Dex. In 2021, because of a significant improvement and reorganization of our research, we will be able to pool more resources to optimize ZKPs for different use cases, hardware acceleration and MPC for blockchain use cases.
CF: Question 4 from @Prettyboy071
@CryptoFamilyVN 和 @FindoraOfficial
Can anonymous transactions be performed on the Findora network to hide transaction details to help protect the confidentiality of user information and tokens?
Findora: Yes. Anonymous transactions refer to the blockchain transactions that have hidden addresses, timestamps, asset types, asset amount and more. In addition to anonymous transactions, Findora also enables anonymous credentials: anonymous credentials allow a user to show that he/she has certain credentials without revealing any additional information. Such anonymity is enabled by ZKSNAKRs. ZKSNARKs are suitable for proving complex statements. We use these features to protect user information and tokens. The advantage of our technology is that we make these transactions auditable.
Question 5 from @ryuuuubtc12
@CryptoFamilyVN 和 @FindoraOfficial
FINDORA is currently going well and is receiving positive attention. What will you do to get more exposure and adoption? What is the FINDORA message for the Community today?
Findora: I personally think this is a very, if not extremely important feature. This will fill the gap between Blockcahin and the real world.
Thanks and we view the community as the key to our success. Exposure to and adoption from the communities are very important. We divide community into several sub segments: general crypto community; developer and researcher's community and enterprise users as a community. We believe these communities should be equally strong and benefit each other. On the general crypto community side, we have teams around the world to raise awareness of the Findora brand and services, deploy all kinds of growth programs including incentivized participation, gamified application experiments, and bounty programs. We also have a privacy preserving stable coin project that is designed to help solve lack of banking access and cost effective international remittance issues.
On the developer and researcher's community side, we have a Findora Research Institute consisting of established researchers, economists and computer scientists, we have specialized funds to sponsor and support research projects for both private and public domain especially cryptography. We are willing to invest and flourish a developer's community, an ecosystem fund is being set up to invest in Defi and other applications
Finally, enterprise adoption is huge for blockchain. We firmly believe, practically, a large portion of the world's total transactions will be moved onto the blockchain. And we are already working with partners like Tencent Group to help move small-to-medium sized enterprises onto cloud hosted blockchain based transactional systems. Such systems are configured as Findora public blockcain's subnetworks and the more adoptions we have, the more support to our Findora main chain and token utilities will occur.
CF: I believe all of the members here have gathered enough useful information, also they have many questions to exchange with you today. For all of the questions that have not been answered yet, feel free to search for more information on the links as Ms. Lily provided above.
Thank you so much for taking your time joining AMA with CryptoFamily group today, we all hope Findora will gain more and more success in the future! Goodbye and see you soon!
If anyone has other questions, you can join and contact directly with Findora at:
Website: https://findora.org/
Telegram group: https://t.me/findoraen
Tiwtter: http://twitter.com/FindoraOfficial/
Instagram: http://www.instagram.com/findorafoundation/
