Q&A/AMA with Jared and Kevin, hosted from the smashercave

[Jared Grey 39]

Q&A

[Jared Grey 39]

This was an awesome session! Thanks Jared and Kevin for the huge bunch of information you gave us. Makes me really confident that we are heading for bright (and busy) times!

[Jared Grey 39]

I tried to summarize at least some of the questions which have been asked in the session. Maybe I'll add some later - this is for you guys who are not willing or able to watch the video session.

 

Q: You’ve made a little introduction video but for the folks who didn’t see it can you introduce yourself in a few words?

Jared: I guess I’ve been in the IT for close to 20 years and in crypto for almost 3 years now. I am happy to be with ALQO, there are great things planned. Anything else that anyone wants to know can be asked I’ll answer!

Q: As being the one on the steering wheel now what do you think are the most important tasks for you now as the CEO of bitfineon and ALQO?

Jared: With bitfineon as an exchange specifically it needs volume, it needs customers, there are a lot of things that go into providing an experience that attracts both of those and my focus with the rest of the team will be on providing a user experience and products and services that people in the crypto and greater financial world need and want so that there’ll be drawn to bitfineon. We’re building that with ALQO specifically you are seeing that in the Liberio framework specifically that’s been rolled out and then bitfineon itself we will be releasing details on features and stuff like that in the next few days I guess yeah few days to a week so people get a complete overview of how we see bitfineon serving those people in the crypto world and as we look for more you know greater mass adoption people in the traditional financial sector e.g. traders who maybe sitting on the sidelines waiting for certain features to be implemented in exchanges that aren’t available elsewhere yet, we plan to serve them as well.
So we have a lot of things planned – I could spend like 4 hours talking about things we have in the pipeline but that might get tired of hearing my voice.

Q: ALQO started as a community coin and the community is quite incredible when do you think will we have the liberio governance system online (maybe that’s a Kevin question)? And do you plan to resume the bitfineon community coin listing procedure again?

Jared: Yes we plan to implement the community coin listing again. I guess we’ll do that in the beta. Cannot give you a 100% crystal clear answer but it will be part of bitfineon.
Features in Liberio are going to be rolled out – I’d rather have Kevin answering the technical questions but I guess I have talked a lot about is that security of user funds is top of the list and when we are rolling out new features. So before we are opening up Liberio with all its features and allow people to interact with the software in a hundred percent capacity we’re testing everything five six ten – fifty times before Kevin hits the activate button on his side. I know everyone’s biting at the, chopping at the bit to get those released and we certainly want to release them as quickly as possible and governance will definitely be something that is a focus to be released as quickly as possible but you know as far as timeline again security is for me paramount. I crypto there is so many opportunities for people to take advantage of people, we don’t want those opportunities to exist with Liberio.

Q: Does the date 30th of sept still hold for the release of the bitfineon beta and subsequently the full release end of Q4 this year?

Jared: Currently we are intetgrating the remainder of the UI into the backend. That is the focus of this coming week. We will have something available for people to interact with to get an overview of what will be the end product of bitfineon when we launch in Q4. Yes there will be something at the 30^th and this will be the start for us to get user feedback so that we can implement this so that when we go fully live to a public release the exchange will be as impactful as it can be.

Q: As you have dealt in the past with traders and investors alike you are well aware of the shortcomings of the existing exchanges in the space. Can you share some unique features of bitfineon and what will make bitfineon better than the existing exchanges?

Jared: I don’t want to give too much away but I’ll say that there are features within like metatrader4 that we are looking to integrate into bitfineon to have a more seamless transition for people who want to come over from the traditional sector or for people who are already in crypto but expect those functionalities to be there. We will have the more basic stuff like stop-loss function for example but there will be things I don’t want to give all of it away right now.

Q: Can you give some words on the security of bitfineon?

Kevin: I guess we’ve talked about that already in the last Q&A session. Not a lot has changed since the last time. We are running “cold wallet” systems meaning your funds are in no way connected to the live blockchain. They are laying on our servers which are secured by our system which I cannot talk about because keeping things secret about security is better, not inducing additional risks by talking too much about encryption and all that stuff.

Q: Is there some kind of fund or safety net for funds planned in case of fund being stolen by a hack or similar which hopefully will never happen. Something like a customer fund insurance?

Kevin: It’s pretty simple. Afaik you will not be able to find any insurance for crypto funds right now. We will do our best to secure the funds that’s for sure and not let any hack or exploit happen.
Jared: I’ll backup real quick. As we build bitfineon and it becomes a greater exchange we will have the ability to create our own insurance funds somewhat like what bitmex does. This we want to see implemented into bitfineon as we grow, certainly not from the very start.

Q: How are you going to achieve the overwhelming tasks when running an exchange with just a hand full of staff. Are there plans to hire or similar?

Jared: Yes its an overwhelming amount of work but its not an impossible amount! We are already over a lot of significant technological milestone humps. So moving forward with hiring additional people – for sure! There will be no way for the core team to handle this as it grows to 10 or 50 million daily volume then further to 500 million or 1 billion and we dethrone binance. We have already outsourced some stuff to like highly qualified people that we’ve vetted as a team and as we move forward we’ll definitely have to have a serious onboarding and hiring period in process.

Q: We haven’t seen a lot of marketing regarding ALQO and bitfineon so far. Are there any plans to do so and what can we expect in the next time in that regard?

Jared: Sure the marketing is going to increase. The plan was not really to open the floodgates with the beta because it’s gonna be closed to alqo hodlers and people who have taken part in the promo.
There will be significant marketing when we are heading for the full release or maybe even when we are half way through or lets say when we have a 90/95% version of the beta of what will be the public release.
And we have a quite detailed plan about it – its obv. Just not executed and we continue to grow the plan and add to it. Personally I want to do marketing that has the most impact and is somewhat targeted. Maybe I’ll give something of that plan when we release the beta – not sure tbh.

Q: How can my grandma buy alqo? (easy version of the real question)

Jared: To me the “naming thing” in Liberio is a feature that basically screams mass adoption. To which extent a grandma will be capable of buying alqo will depend on the tech savviness of the grandma I suppose.
Kevin: There will be a feature “Bitfineon direct” which will be included into Liberio which will make it super easy to get Alqo but we have plans to make it really easy to get into crypto not specifically alqo but in all cryptocurrencies with bitfineon and liberio in conjunction. I don’t know if Jared wants to sneak into some upcoming features of Liberio?
Jared: The way I view Liberio I mean when I log into it, it looks like into my “bank of America account”. People need to have some sense of familiarity for them to feel comfortable with interacting in the crypto world and of alqo can be one of the coins that provides that familiarity it’s a huge point of adoption potential.
The bitfineon direct feature will simplify the FIAT on ramping procedure for people when they come to buy crypto whether its BTC, ETH or XLQ or whatever.

Q: Are there any plans for ALQO utilizing payment cards or partnering with some providers?

Kevin: Sure we have the plan to do so. This is pretty much all I want to tell right now.
Jared: We have plans but there is not the right time atm to release anything yet.

[Search 4]

good job Samuel

[Nighty 1]

well done :)

[Kevin Collmer 3]

Great summary!