Jelurida AMA on Cryptocopia

For those of you who do not know, a semi-private AMA (Ask Me Anything) session with Jelurida occurred on the Cryptocopia Slack last Wednesday, August 23rd at 22:00 CEST. Jelurida spoke at length with the community, answering many questions about the now-in-progress, IGNIS ICO, Nxt, the blockchain, and much more. Only registered members of the Cryptocopia community could participate, but since we are so well connected we have you covered!

Cryptocopia’s registration-page has been offline ever since they made the AMA announcement, but here we give you an abbreviated, “best of” version that has all the relevant information and highlights that you need to know.

myco [10:02 PM]

Hello, and welcome! The Jelurida AMA is starting now!

Our guests from the official Jelurida team are:

petko

Hi! My name is Petko Petkov. I am a software developer. I’m contributing to NXT since Jan 2015. Then participated in the design and the development of the Ardor platform.

tomi

I am also a software developer, with more than 15 years of experience. I survived the dot-com crash, worked for a few companies in the Silicon Valley, then for a small startup, then became interested in crypto and Nxt in particular a few years ago. Now I am a part of the core Nxt development team.

The other core developer, Lior Yaffe, unfortunately couldn’t attend this AMA tonight as he is not feeling well. Lior Yaffe is a very talented developer and also lately doing a big part of the project management.

kristina

I am not a developer and before becoming interested in cryptocurrencies and blockchain technology I have been working as a legal advisor. I have been following Nxt from its very beginning and when Jelurida was created last year I became an official part of the team because the developers were looking for somebody to take care of organizational, administrative and legal tasks. Now, with the company growing bigger and the upcoming launch of Ardor, I am fully occupied with work and 100% devoted to it.

What will happen with NXT?

Q

myco

I know that we’ve gone through several stages in the transition of NXT to IGNIS and ARDOR.

Could you explain at a high level what is happening with NXT for those who do not know much about it?

kristina

Ardor can be considered Nxt 2.0, because it is being built using proven Nxt technology. The Nxt public blockchain, and software, will continue to exist and be maintained by Jelurida.

There were quite a few technical reasons why Ardor had to be started as a separate platform, and it wasn’t possible to just upgrade Nxt to it.

petko

NXT is an open-source project and POS-based cryptocurrency. We are planning to continue maintaining it, but after all, its the NXT stakeholders who decide whether to use the software we develop. So, there is no actual transition – we had the idea about Ardor and decided to work on it. NXT will continue to exist one way or another. As @kristina explained, there are technical reasons that prevent us from upgrading NXT to Ardor. But we distributed the Ardor tokens to the NXT stakeholders at 1:1 ratio.

Q

dereje

With the development of ardor and jlrda, do you see nxt eventually dying out from lack of support and development?

tomi

We have promised to support Nxt for at least a year, or longer, depending on the funding level obtained in the ICO, and depending on the demand for it. We will also backport features from Ardor to Nxt, if we can hire enough developers to dedicate to that. We expect that Nxt will stay as the stable, well tested and reliable platform. And not all use cases need Ardor with its multiple child chains (which also brings complexity).

kristina

please remember that Nxt is a proven and stable blockchain with a large variety of features, a platform well suited for ICOs for example which is a functionality we plan to further enhance.

Jelurida

Q

myco

What is the development like for Jelurida?

Do you work remotely, or do you have an office where you meet?

tomi

We don’t have an office, working remotely all the time. We do plan to establish a physical office however, depending on the success level of our ICO.

Q

myco

What are the upcoming tasks that the Jelurida team is focusing on in the short term?

kristina

After our ICO is over the snapshot will follow and of course the launch of the Ardor platform.

Q

sanchopansa

How many people are working full-time on the project?

kristina

4 (3 developers and myself) + 2 part time developers.

Q

sanchopansa

How do you plan to generate revenue and when do you foresee to become profitable?

Kristina

We have several possible sources of revenue – licensing of the software for private blockchains, child chain creation, and revenue sharing with businesses that run child chains, consulting, custom wallet creation. Other minor revenue sources are listed in the whitepaper.

We aim to become profitable and self sustainable by the end of 2018.

Q

doubleqp

How much funds do you expect to need until the end of 2018 to survive?

kristina

what we have collected already is enough to survive until the end of 2018.

Q

doubleqp

So what’s your reason to collect even more money?

Kristina

For two reasons: we have a detailed plan how we can utilize the funds up to €50M.

And because we exist in a very fast growing field where our competitors raise/have raised millions which they are using for marketing and because we cannot allow a technology with such a great potential not to succeed.

marenkar

In section V3 of the white paper, (https://www.jelurida.com/sites/default/files/JeluridaWhitepaper.pdf) Jelurida goes over their plan with regards to the amount that they raise (starting on page 36). More funds raised generally means a larger team, more projects, and more business activity.

tomi

Jelurida was established last year as a corporate entity to manage the development of Nxt and later Ardor. Before that, Nxt was developed as a volunteer open source project, without a legal entity behind it. This was problematic when trying for example to license the Nxt software for commercial purposes, and when having to protect the IP behind it.

IGNIS ICO < > NXT ?

Q

myco

When will the IGNIS snapshot take place?

vanbreuk

From https://www.jelurida.com/ico, “The Ardor Genesis Snapshot will be performed at least two weeks after the end of the last JLRDA sale round”. But no exact date has been announced yet.

Q

myco

What happens to the NXT collected in the ICO for IGNIS?

tomi

We will be selling most of the NXT for BTC and fiat, because the purpose of collecting it is to provide funding for the company. We have been very clear about that in the whitepaper. Some amount of NXT, up to 40 M, will be kept by the company.

Q

myco

It seems like selling the NXT you receive in the ICO for BTC and fiat will make the NXT have a much lower value.

Who will be buying the NXT from you? people who want to hold for the IGNIS snapshot?

tomi

We have already sold most of the 24 M NXT collected in the first round, it didn’t crash the price. We expect people who want to participate in the next rounds, or didn’t have a chance to buy in the previous, to be buying this NXT. And at the end, indeed those who want to hold for the snapshot. But even after the snapshot, we believe NXT will continue to have value, and this value will probably become stable, as no major disruptions will happen to it anymore.

kristina

People believed that NXT will lose value after the Ardor asset was launched too, but it didn’t happen… It indeed dropped temporarily but after that it went back up again…

Q

myco

What new functionality is present in IGNIS that was not present in NXT?

tomi

We have a feature comparison table on the website, few things I can think of: asset dividend payments using other assets, or MS currencies, or other child chain coins; asset share increase transaction; smart phasing (a boolean composite of phasing conditions); asset control…

About Ardor

Q

myco

What is the current status of development on ARDOR? When will that be a useable technology in production?

tomi

It is running on testnet now. The multiple child chains framework is implemented and working, you can try it. We are planning a new testnet release some time before the snapshot, which will introduce some innovative features – smart phasing and asset control for example.

The pruning and snapshotting parts of the Ardor design are currently being worked on, and will not be part of the initial release, they will be ready later. See the roadmap on our website for all details.

Q

myco

What mechanisms would cause the rise in price of Ardor? What is Ardor used for?

tomi

Ardor will only be used to provide security for the whole system, it is the token used in the proof-of-stake algorithm. It intentionally has very limited other functionality, as Ardor transactions by design must remain in the blockchain (and cannot be pruned like child chain ones). Having significant Ardor stake will allow users to run forging nodes, and collect fees from all child chain transactions (converted from native tokens to ARDR by their bundlers).

myco

I can understand that value if you get native tokens from staking ardor… but why would I want to get more ardor for staking ardor if there is no additional utility to it besides getting more ardor? It seems circular. what am I missing?

petko

Ardor is like the mining hardware in bitcoin, minus all the wasted electricity

marenkar

For child chains to run, bundlers will need to exist to collect child chain tokens and then pay ARDR to the forgers to process the transactions. Any account can opt to be a bundler as long as they have ARDR and set the rate they want for accepting child chain coins relative to the ARDR paid out to forgers. Transaction fees paid out to forgers will be fixed based on the amount of data processed and/or the type of transaction and have a similar fee structure as that with Nxt ( `https://nxtwiki.org/wiki/Transaction_Fees` ).

In terms of value, assuming all other things held constant, the more child chains on Ardor and the more activity on the child chains on Ardor, the higher the demand for ARDR as the need for it increases to handle the increased demand for transaction processing.

Q

oojacoboo

So Jurlidia needs money to develop Ardor so it can try and sell sidechains to companies?  That the tldr; ?

tomi

Child chains can be useful not only for companies, but for the general public, even when there is a company behind a particular child chain. For example a pegged child chain, with token value fixed to fiat currency, maintained by a 3rd party business who charges commission on entry and exit from the system – but all users than can transact with this currency on the blockchain, denominating their transactions in it. And the Ignis child chain, for which the ICO is being conducted, will always remain decentralized and accessible to everyone.

kristina

not only creating child chains, but also private blockchains – it depends on the use case

and please note that the Ardor child chains are not side chains. The difference between them is explained in our Whitepaper.

Link to white paper – `https://www.jelurida.com/sites/default/files/JeluridaWhitepaper.pdf`

Link to page about side chains vs child chains – `https://www.jelurida.com/child-chains-and-side-chains`

Q

sanchopansa

What are the major industries/verticals that you are hoping would be using NXT?

tomi

Banking and financial sectors, asset issuance and trading, voting (including shareholder meeting voting), crowdfunding. We have been in talks to several banks that are testing internally our technology, but since this is under NDA I can’t mention names until it becomes publicly known.

Q

sanchopansa

Do you have any commercial partnerships/deals that you can talk about?

kristina

The ones not covered by NDAs – we have partnerships with companies/projects like TLVC, Beecrypt, Bitswift, Sigwo Technologies and quite a few others to be announced soon…

Q

sanchopansa

If I understand correctly, you’re in the blockchain-as-a-service space so that would make Stratis, Lisk, Ark and maybe to some extent Ripple your competitors. Why would any business use Ardor instead of these other options?

tomi

We believe that our parent – child chain architecture is currently unique in the blockchain space, and it opens the door for even more use cases and a greater interoperability between child chains. It also solves the blockchain bloat problem – which I don’t believe those other platforms have a solution for. Ardor is based on the tested and stable Nxt codebase, and has a very rich feature set which will be carried over to it from Nxt.

Price speculation

Q

myco

Why do you think that NXT has been left behind in price, relative to new coins coming out in the past year?

marenkar

There’s quite a lot of reasons because Nxt has existed for quite a long time, such as a lack of a proper team, which Jelurida now fills, a lack of funds, which this ICO now aims to address. Also it being the first Proof of Stake platform during a time when everyone wanted to mine held things back a bit. I made a long post about it if anyone’s interested – `https://www.reddit.com/r/NXT/comments/6m2tyd/why_did_nxt_never_catch_on/djyjxa6/`

Q

myco

What are you going to do differently with IGNIS to make a token that people want to hold?

Or will you focus on making money through corporate consulting use cases?

Petko

My personal opinion is that there is no need to do something special with IGNIS in order to differentiate it from the other child chain tokens. Same like NXT – everyone is free to clone NXT and start another blockchain and token (and there are many clones existing), but the NXT token only one

Q

oojacoboo

And why would I want to own any JLRDA tokens?  What value do they have, since this is a funding model for Ardor…

thewiremaster

The JLRDA MS tokens represent the IGNIS tokens you will get at Ardor launch.

vanbreuk

If a company is funded for developing the platform where your tokens are used, there is a much bigger chance that tokens will appreciate in value. I don’t understand the question.

kristina

Yes, we are selling tokens, that’s right. You may want to fund the development of Ardor because it will be a scalable PoS multi chain ecosystem – it will be the next big step in the blockchain industry

marenkar

Ignis will be the first child chain on Ardor. The Ardor main chain will not have substantial features as it is intended to secure the Ardor network and not be a regularly-used chain. Ignis provides an unrestricted way for users and organizations to utilize the features of Ardor, such as creating an asset or setting up a decentralized poll. Transaction fees to do these transactions will be in IGNIS not ARDR. Other child chains will also have these capabilities but they may set restrictions on them.

The JLRDA > IGNIS ICO

Q

myco

Where can we find the best instructions for how to participate in the ICO? The software used for the ICO is different than the BTC/ETH icos we’ve been participating in lately

tomi

Since we are running our ICO on our own blockchain, it is using the Nxt wallet. It may indeed look different from the BTC and ETH client, but shouldn’t take long to figure out, and especially for the purposes of the ICO we added a separate page – accessible from the Ignis Token Sale link in the header, which really makes it easy.

But do read the instructions on our jelurida.com/ico page, there is also a video showing how to do it, and we plan to post more instructions in a video or pdf too. And remember, only use the IGNIS Token Sale link from the header – do not buy any similarly named tokens/assets/marketplace goods, as unfortunately there have been scammers selling fake JLRDA or Ignis tokens.

Q

myco

What does it mean that IGNIS is “fully permissionless” compared to other child chains

kristina

It means that it is open for everybody to use freely. Other child chains will be associated with a specific use case, a company or an organization behind them. Some of them may want to implement restrictions such as KYC for example….

tomi

Permissioned blockchains is something our enterprise customers ask for, as they want to be able to control who can connect to the blockchain (read access), who can send transactions (write access), and who can give or take such permissions (admin access). Some of this functionality will also be added to child chains that may need it.

Q

lordcameltoe

How will the next IGNIS sale be handled to avoid having whales scoop up the majority of coins before everyone else?

tomi

Everyone has equal chance to participate in the Ignis sale, using our scheduled transaction feature which automatically submits their purchase transaction as soon as the sale offer is posted. And the batch will be split into 4 rounds of 20 M each, again to give users multiple chances to participate.

lordcameltoe

So the technique one person used last time to get most of the tokens has been patched?

vanbreuk

Rather than patched, the Nxt Client now allows for everyone to place a buy order in advance, before the next batch of tokens is effectively placed for sale. So the tactical advantage of that person in the first few batches is not there anymore, since anyone can do it from the client.

marenkar

I’m not 100% sure how it works but it ends up being a lottery of sorts. Some users couldn’t get in, others could. A few users were able to get in even without the scheduler though, but that was rare. Well, at least from what people claimed on Slack.

Thanks for tuning in, dear readers. That was an interesting and informative AMA from Jelurida. They clarified a lot of their plans and continued to bring attention to the IGNIS ICO.

For our ongoing coverage of the ICO, we have our special report series and a weekly Nxter Newsletter, that follows blockchain trends and reports on the last week in the ever growing world of the blockchain. Follow us on Twitter for important breaking updates as they occur. Stay informed and keep reading.

Help us grow and help us continue to provide excellent and focused coverage on the ever growing blockchain space by rewarding us for our efforts: Donation address NXT-TK9J-MEKH-MUP9-HFCH2.

NXT

Alphonso Morris Q & A

Source: nxtchat.slack #qu_answers

Thursday May 18th starting 1pm – 2:30 pm eastern standard time


ascendus
On behalf of Janus Team, thank you for showing up.
Moderation will be performed by @marenkar !

marenkar
Welcome everyone to the QA with the newest member of the Janus team, Mr. Alphonso Morris Jr @almo3ree23! I have personally verified his information to be accurate based on several techniques to prove identity. Without further ado let’s get to the questions. Please remember, we need to screen questions first so please post your questions to #janusproject. If they are approved, I’ll ask them here with a tag to you.

I have some questions to get started but will be checking #janusproject regularly. To start things off, here’s the first question:

Who are you and what is your career experience?

almo3ree23
My full name is Alphonso Morris Jr.
I’m 51 yrs old. I was born in Philadelphia PA and currently live here.

http://linkedin.com/in/alphonso-morris-jr-b8a21170

marenkar
Philly sounds like a great place!

almo3ree23
It’s a great city.

I have several years of experience in various fields not as much in the Crypto / Blockchain world more so in the fields of Photography, Event Planning & Promotions. Public Relations Director, Artist Management, Personal Assistant, Music & Television for over 20 yrs.

marenkar
A lot of people on #janusproject are asking, how did you meet the Janus team?

almo3ree23
It’s a funny story….. I met Bjorn’s wife at an event, I was working in Bethlehem PA, there’s a Casino built on the site of the famous Bethlehem Steel Co. I met her a few years earlier. She wanted me to meet her husband for years.

She happens to drag him out of his cave for a little R&R. After the show, we met for drinks and hit it off. It didn’t take long for us to connect and discuss life, family, work etc. Louis & Robert [also from the Janus team] I met later.

marenkar
That’s awesome! Nice to know that there’s a good personal relationship as well.

almo3ree23
They’re a great team to work with.

marenkar
@crowne asks: Is Nate Morris from Boyz II Men your brother by blood relation?

almo3ree23
Yes he is
Yes he is my little brother, we’re five years apart, and I can still beat him lol

marenkar
Haha good to know! 🙂

Alright, another common question on #janusproject is – “What ways will you help the Janus team expand grow as both a team and future company”?

almo3ree23
Explaining how good something can be to others is easy when you have a team & product as good as this. We’re all driven to succeed focused on producing quality, I believe creative minds tend to work well together. My interactions with members of the team has been very good. I believe my 30 plus years of public relations, world travel, and personal contacts will benefit the team as we grow.

I’m anxious to get into the creative process.

marenkar
Sounds great! Looking forward to seeing what you can do with Janus.

We have another question as well from @merk: given your association with Boyz II Men – “Who is the most influential person you have ever had the privilege of meeting”?

almo3ree23
Niece, 1998, The World Music Awards, Royal Yacht Club. Its me Ant, Stevie Wonder, his assistant and Prince Albert Of Monaco. Having a conversation about being royal. Needless to say, we were all bent…. out of our faces…

marenkar
That’s pretty awesome!

almo3ree23
Oh and Salt&Peppa were there as well!

marenkar
Question from @qiwoman – “What advice do you have for potential investors looking at JANUS”?

almo3ree23
I joined the team two months ago and my observation of Janus is that it’s a solid company. They have good direction, good products, dedicated to their investors and their brand. Janus is also growing exponentially.

marenkar
Another question that is being asked regularly on #janusproject is “To what degree can you utilize your ‘special’ industry contacts to help your team gain an advantage with online business sites and other Janus activities?”

almo3ree23
From my personal experience, we are only as good as our word on any level. Information is power in the right hands coming from the right people.

I’ve earned mutual respect from some influential people in the entertainment industry who I’ve worked for or with over the years. People like ( Ken Ehrlich ) Tv Producer Grammys, AMA’s Etc.
( Usher Raymond ) Music Producer / Entertainer I consider close contacts. There’s always the possibility of an outright endorsement of a product, company, idea or the like based on how Bjorn wants to proceed.

marenkar
Whoa, that’s quite a list of contacts to bring. Nice!

@wolffang asks – “Since you are the Brother of a boys2men member, do you know Beyonce through him? ”

almo3ree23
She was on The Evolution tour with Destiny’s Child and Boyz II Men in 1997.
I was their personal photographer during the tour.

marenkar
Whoa, that’s awesome. There’s a group trying to parody her name as blockchain. 🙂

Speaking of blockchain, another question that’s asked on #janusproject is “Had you heard of Bitcoin or Blockchain before joining the Janus team”?

almo3ree23
Yes in my travels abroad I noticed it being used but that was the extent of my Bitcoin or Blockchain knowledge. It didn’t take long for me to start asking questions.
I’m not a religious person per say but I can say I’ve seen the LIGHT!

marenkar
Welcome into the blockchain community 🙂

A good question that @qiwoman brought up is “With marketing JANUS mainstream sites, do you feel you will be able to attract outside mainstream investors into JANUS blockchain token shares?”

almo3ree23
Yes with my contacts in music and television it wouldn’t be a problem for me to explain Janus to as many influential people and companies as possible.

marenkar
@cryptoracer asks: What areas of marketing and promo (and to what demographic) do you think will benefit Janus the most, re. exposure?

bjorn_bb [marketing director of Janus]
The primary marketing angle will vary based on the business type, for example, our Forex/Crypto mainstream site from this year will be tackled literally by the main stars of that site, chiefly the wave callers (professional traders). Money and personal fame is the driver.

In terms of year 2 adoption, we will be using creative methods to introduce general mainstream users to our token(s). This is something our team excels at and keeping the tech out of the equation will be always primary to reduce barrier of adoption.

ropes
What will be the main marketing angle for Janus project, what is the plan of delivery and what are the ballpark estimates for year 2 adoption in mainstream?

almo3ree23
I’m very visible in the entertainment world, I travel regularly so I can tap into the international markets, I’m experienced in promoting products, and have a respected following.

marenkar
Awesome. More exposure would be great. More in Janus would mean more for Nxt and Ardor too, so we certainly welcome that 🙂

A great question by @martis (and earlier by @wolffang), speaking of Nxt – did you try to play with Nxt features? And if yes, what is your first impression?

almo3ree23
Yes, I have it installed and have looked at it. It’s a very powerful platform!

I’m still wrapping my head around some of the features, but I’m still learning.

marenkar
A casual question from @wolffang – What is your favorite place to spend the holidays?

almo3ree23
Sidney Australia or Tokyo Japan are my two favorite cities

qiwoman
What is your projection of JANUS 12 months from now?

almo3ree23
I can project that it will be the number one token in the market! Just my personal opinion based on my observations and markets.

bjorn_bb
This is obviously highly speculative, but we believe that our tokens can appreciate in value almost by sheer force of work and business success. A store of value backed by our team can only stay at one value so long if we keep our roadmap and vision strong without becoming complacent. I’ll be the first to tell you that my goal is empire level, and you don’t get to that point without drive and ruthless ambition.

marenkar
A great question from @merk -“With the upcoming formation of FL3X (the Janus parent company), what role will you play in the formation and what position will you hold (if that has been discussed)”?

almo3ree23
Company brand ambassador to start, we’re still forming positions but eventually partner.

merk
Cool. Thanks.

marenkar
Awesome! @martis is also asking how you will be promoting crypto tokens to people who aren’t familiar with the technology and the community?

almo3ree23
I’ll be promoting thru my contacts in mainstream the business sites we develop. Those business sites will be using our tokens in both direct and indirect ways. I’ll be facilitating the communication with these people in order to partake in the use of the site or promote the site itself.

marenkar
Awesome. Having a person these contacts can trust is a great way for them to get connected to it. Let them know they’re welcome here as well! 🙂

Ok, we’re at an hour now, so I’ll close it off with this question – How long will you be staying with the company and team? Do you plan to become partner and see it develop into what the Janus team has described?

almo3ree23
I’m here for the long haul. I never run away from a challenge. We have great things planned for the greater community. We want to make Janus a household name. And yes I will be a full partner in this endeavor.

marenkar
Awesome. Thanks to everyone who participated in this Q&A and thanks especially to @almo3ree23 for coming on here and answering all these questions. Thanks again to Janus for choosing Nxt!

almo3ree23
Thank You all for your time and attention.

bjorn_bb
Thank you all for coming out to meet Alphonso today, as always thank you to the community for the strength you help give our project and team. Press releases will follow shortly and a giant thank you to the NXT foundation for helping with everything today, including the ID verification of Mr. Morris.


Follow Janus: Twitter | Bitcointalk.org | Slack #janusproject

Latest Janus news and market data: https://nxter.org/ae-janus | Nxt Newsletters

Under the Knife #1: Janus token

Janus

On November 09, 2016, 11:57:13 pm, Janus joined in the Nxt and BTC sphere by announcing their ICO on Nxtforum and Bitcointalk.org. Up for sale were Janustokens, which are tokens that will represent revenue shares in Janus, a (soon to be legally registered) software and services company which plans on launching multiple businesses. The industries targeted are done so specifically for maximum revenue with the lowest market share.

The Janus project is being launched by veteran blockchain enthusiasts with the aim of bootstrapping a number of initiatives under the umbrella of a parent company. As with any business, the goal of these initiatives is to become profitable and pay investors regular profit shares which exceed market rates of return on invested capital.

Our vision is to create a software and services company which utilizes a common technology platform to rapidly implement distinctly branded projects targeting a number of carefully selected markets. We believe that this approach will allow us to decrease development costs and increase product quality which will enable us to establish successful businesses and generate substantial profits which will then be shared with the Janus token holders.

From the Janus whitepaper

The janustoken.com site takes investments paid with BTC, NXT, and most altcoins (via Shapeshift). The tokens are issued on the Nxt blockchain and will be distributed to investors after the ICO. Dividends will be sent to investors via the well-tested Nxt dividend mechanism, in BTC, and directly into each investor’s BTC wallets.

The countdown, profit sharing plan, roadmap, time line, and income generation business model, can all be found on the website and in the Janus white paper. Nxt Foundation acts as escrow, investors which contribute and hold the equivalent of more than 50BTC Janus tokens, will receive a seat on a Janus ‘Advisory Board’.

What can actually go wrong?

Nxt and the cryptocurrency scene have seen many sellers jump into our forums, promising “moon” and good ROI, and, I’m sorry to say, but we have a damn good reason to be reluctant. We’ve been victims of numerous scams. We’ve funded some of those good pitches and seen our money vanish.

Under the knife

Janus coming out of the blue like a ninja, suddenly being all over the place, pitching, praising Nxt, posting walls of text and asking for funding, but without revealing much detail about their business models, could be either backed by relevant enthusiasm, good marketing, and natural protectionism of their unique business ideas, but on the other hand, it could also turn out to be nothing but “used car seller” tricks.

That’s what I told Bjorn, the Director of Marketing of Janus, when I contacted him on nxtchat.slack, in their #janustoken channel, and proposed this interview, my first in a series of asset issuer interrogations. Bjorn agreed to do the interview and, after reading the questions, decided to let lobos, Janus’ director of technology, Robert Gasch, join in the conversation as well.

Here’s the result.

ae-knifed

Q & A

Anonymous

Q: Bjorn, you have chosen to be anonymous. Why?

Bjorn: Due to current employment and the country I live in, I’ll be anonymous until Q2 2017.

I gave my passport to the Nxt Foundation though, that’s not a public fact but I’ll tell you that its encrypted and they have it.

Q: Who did you send it to?

Bjorn: evildave

Ad1: Dave Pearce, Nxt Foundation Board Member, has confirmed to me that he received a passport scan from Bjorn. I quote: “I can’t guarantee with 100% accuracy that it’s genuine, obviously, but we have also checked and confirmed the IDs of Robert and Luis, and they are genuine. Robert and Luis both know Bjorn in real life, so if something goes wrong, they will also be able to track Bjorn down.” 

Q: You’ve promised anonymity to tokenholders, yet Janus will become a registered company in Q1 2017, according to your roadmap. You have sought advice from “some legal experts”, you say, but “the finer details are still to be investigated”.

Why would any government allow you to pay out dividends to anons?

Bjorn: As a company most governments would not. To cover the majority of countries we are proposing to handle this in a way to reduce the generally imposed KYC that a company direct profit sharing would demand. For Janus token holders, the net profit will be distributed by one of the company co-owners as an individual and not as the company itself to allow those receiving profit sharing to retain anonymity.

Lobos: After deliberation with the lawyers we asked, we would lean towards the option of transferring the profits which are to be paid out to a company executive who would then distribute them using blockchain technology, as a person. This would sidestep the issue of the company directly performing this profit distribution but also shift legal responsibility to the designated executive. (the last word on this subject has not been spoken yet; it turns out that this is a much more complicated question than we originally anticipated which also depends on the jurisdiction in which the company is formed).

Q: You are working in the grey zone, I guess we can agree on that. What happens if regulations kick in?

Lobos: If and when regulations kick in which make the above proposed (and any other reasonable) method impossible, we would at this point lean towards a buyback program.

Q: A scenario could be that you would have to ask asset holders to give you their personal information. Message tokenholders via the blockchain and give them the choice to either hand over their personal details to you or sell their tokens (buyback option/sell on market). Then re-issue the Janustoken, on an Ardor KYC child chain in Q3 (if available by then) and distribute this new token to those who registered.

Bjorn: If this becomes an available choice, and doesn’t impede the distribution of profit sharing it can be altered to accommodate KYC, yes. The buyback could very well be the easiest route in the event of severe legal implications.

lobos: As a matter of fact, we believe that a buyback could be structured in such a way that it would take the place of the profit sharing.

Q: The thing here is, it’s not only your ability to launch grow and run a business we have to trust with our money. It’s a promise that you can run a registered business and we can be anonymous investors. Would you close the business or ask us to provide our personal info if forced to make the choice?

Bjorn: We would find an alternate method, more than likely what was proposed above and allow buyback options for Janus holders. There is always a way to protect users as long as everyone is willing to take the extra steps with us to do so.

Backstory: Betterbets.io

betterbets-site

Q: I have sent a message to Luis and Robert on LinkedIn, asking them to confirm that they’re related to Janustoken and BetterBets.io, because they don’t mention it on their LinkedIn CV’s. Also, BetterBets’s “About Us” page does not mention any of you. Can you prove that the betterbets site is yours? In some cases, when new asset issuers have wanted to provide proof of their identity, they’ve made a small change to their existing website, for example the “About Us”-page. Could you do that?

Bjorn: Yes we can. (it’s now added as of 5 minutes ago) Bottom right of the BetterBets.io landing page links directly to the Janus sale site and we have added this to the BetterBets about us page as you suggested.

Ad2: I have received a DM from Robert and Luis via LinkedIn and they confirm their active involvement with BetterBets and the Janus project. 

Q: You’ve said that BetterBets is in the top 5 of BTC dice/casino sites. When googling betterbets, I haven’t found you on any top list. I found a 5/5 review though, with a referral link to your site.

Bjorn: The google search would reveal paid ratings sites, we go by verifiable volume which is done by third parties such as www.dicesites.com. This site is and has been for years a true bitcoiner’s source for real casino data and provably fair thats been tested by the industry leaders who invented the methods used to calculate the provably fair methods used today. It’s an unpaid source and created by forum user NLnico who has been a long time community member to uphold security and proper business practices. He’s even done security work for Bitcointalk owner Theymos so this is not taken lightly when he approves a site for admission. The true top 5 sites changes often, one week we are #2 the next #7, the next #3 the next #10. This does vary but strictly averaged BetterBets is top 5.

Lobos: If you factor the volume we processed on Bettebets (68k BTC) and take into account the fact that we only launched approx. 18 months ago, you will see that we have been quite successful when compared to some of the casinos which have been around for years.

Q: Please elaborate on your success. You’ve moved around 47M dollars?

Bjorn: This is correct at this date BetterBets has achieved : 68806.33 BTC in betting volume since opening in May 2015. This site (thebitcoinstrip.com) isn’t completely current but gives some backstory as well.

Q: You’ve said that betterbets is a model of how the Janus project(s) will work (Janus will be a conglomerate of course, so there will be multiple companies, not just one, earning profits to Janus investors). Relevant to this (and to back you with trust), you’ve brought some of BetterBet’s early investors into the Nxtchat.slack.

Bjorn: The stakeholder program we created was actually 40 total spots not 20 (I may have misspoke in chat) and investors were able to purchase each spot for 5 BTC apiece (200 BTC total). One group close to us purchased half (20 spots) to secure their portion of the revenue from BetterBets. This investment and profit sharing will end in Q1 2018 as we have stated to all stakeholders.

Q: In the crypto investment space we’re used to new people dumping into IPO and ICO threads. They come with no backstory, yet they are all happy to buy into the project. Wouldn’t miss this opportunity for anything in the world. In other words, they are sockpuppets, accounts created to pump the ICO.

I’m not saying that @merk, @ropes, @kushed, @l3gionario, @bitcoinpot and others are sock puppets. But noone cares to ask them any questions. Why? Look at this:

You write that your investment offering to betterbets investors was minimum 5 BTC per slot, 20 slots in all. They sold out in 6 weeks.

bjorn_bb [9:37 PM]
now they are here and investing in Janus haha
it’s been a positive experience”

bitcoinpot [12:26 PM]
Hey there everybody, am here thanks to Janus team …being one of their stakeholders at BetterBets.io project consider myself lucky for having the opportunity to fill one of their stakeholders position avaliable already received back ( always on time – 1 day of the month) more than 50% of my initial investiment after 7 months of dividend sand I have still 17 months ahead

Q: Taking your word for it, 200 BTC was invested in betterbets within 6 weeks and everyone is on track to a full ROI in 4-6 months. Now, today with 1 day left of the 8% early investor bonus period for Janus, a total of 16.8 BTC has been raised, including NXT investments and new BTC investors.

I can ask the aliases in Nxtchat why they haven’t invested (more?) yet, but do you have thoughts about this issue yourself?

Bjorn: The only thing I can think of as to why some have not invested is really because we didn’t push investment into Janus on them, we showed them the details, the project and gave them insight as to what was coming but I didn’t direct sell it to any of them. My goal was to see if they had interest based on what we made public and decide for themselves. If I were to speculate I’d say some may not be in a position financially to invest, or are waiting until further into the token sale. Some previous stakeholders have invested. One is currently the largest investor in Janus up to this date. It’s impossible though to state exactly why, however, some of them are very busy or private and rarely even make contact as we have run a tight investment, and they probably never feel the need to enter the private slack we made available to them.

Lobos: Some of our investors are quite private and hardly communicate with us. I think the general feeling for Janus is that a lot of people are sitting on the fence waiting to see how it develops (less in terms of the token sale itself, but with regards to how we are able to communicate the story and whether we are able to hold up to the scrutiny which has been coming out way). Also, with the token sale having a set time limit (and for now not being in any danger of being sold out) there is no rush for them to dive in. From a personal perspective, I can say that I’ve never been a fan of diving into an ICO early on).

bct-betterbets

Source: https://bitcointalk.org/index.php?topic=1677509.msg17008011#msg17008011

Nxt vs BTC dividends

UPDATED: Due to a recent change of plans in Janus’ ICO and token distribution method (as announced on December 5th, 2016) some of the Q & A’s below are outdated. I have striked out the irrelevant parts.

TL;DR: Keep your Janus tokens in a local Nxt account at the time dividends are sent. Dividends will (for now) be paid in NXT. You can read more about this and get the latest Janus insights here

Q: The Janus token is issued on the Nxt Asset Exchange (AE) and you will use the dividend mechanism for distribution of BTC (not SuperBTC) to BTC accounts. Can you elaborate on this?

Bjorn: Janus exists on Nxt as a token and will be publicly traded on both the AE and traditional centralized exchanges. We have contacts in some exchanges and hope more will become available in time to allow greater platform trading. The method for receiving profit sharing will actually be executed outside the dividends feature, we will convert the Janus token site to allow all Janus holders present and future to create an account then input a BTC and their Janus/Nxt account addresses to receive their portion of profit sharing. It will be a simple verification of their Janus balance then sending BTC to the address users provide based on Janus amount owned. 

Q: Have to wrap my head around this; so only tokens which are held in a local Nxt wallet at the time of the verification snapshots and which have also been registered on the Janus site (to connect the Nxt account ID with a BTC address), will receive dividends. Token holders with Janus tokens on central exchanges (and Janus tokens bought on the Nxt AE but not registered on the Janus website) will not receive dividends. NOTE that the centralised exchanges could register their Janus token Nxt account on your website too and the exchange would receive the dividends.

Bjorn: Correct anyone who chooses to purchase Janus and also wishes to receive dividends needs to register their account on our site and add a receiving BTC address, this does mean that anyone, exchanges included could do this. I have a feeling that in the event we get on larger exchanges they would be willing to credit user accounts the BTC from profit sharing out of fairness. I’m also sure some smaller exchanges would keep it for themselves, unless their users demand they credit traders accounts.

In my humble opinion if profit sharing is significant people will have no issue using this method to reap the rewards of our work.

Q: Would Janus keep the dividends for non-registered token holders or pay all dividends to the registered token holders at the time of the snapshot?

Bjorn: We will pay all dividends out to those registered with Janus account and BTC address at the time of the snapshot.

Q: You’ve mentioned that the Janus token may be incorporated into some of your future sites. Can you elaborate on this?

Bjorn: One method to incorporate Janus on some of our sites will be similar to using a rewards model. Without a user having to understand anything technologically about blockchains, it’s very easy to allow ‘reward token’ (which would in fact be Janus tokens) to be used to redeem or send to other users on specific sites we are launching.

The main focus when our team enables features of this nature is to reduce any of the thinking associated with new technology, the way it will be used may not even indicate that it is a Janus token by name, although the underlying fact is that it will be Janus and using Nxt/Ardor blockchain for accounting.

Final Round: The FUD

dont_panic_button

Q: NXT price goes down. Will my Janus tokens lose value?

Bjorn: Our speculative answer is no, Janus derives nearly all its value from our business sites (and announcements of), therefore it is almost independent of any platform in regards to inherent value.

Q: Nxt Foundation gets 5% for acting as escrows. When will they release the funds?

Bjorn: The Nxt Foundation will release funds when all Janus tokens have been credited to the accounts from all participating people in the token sale and all bounties and associated rewards have been paid to participants.

Q: If they release funds after you’ve distributed the tokens to investors, how does this guarantee that you won’t run away with the funds? The AE token cost you 1000 NXT to issue, it would make you a very decent ROI.

Bjorn: We only have our reputations and word to guarantee this, we have a running blockchain based business that people depend on currently to do well, it could be used as leverage were we to run away. Also our core team for Janus 2 of 3 are now public, and Robert is co-owner of everything we do.

Lobos: I have been a professional software developer for 25 years and have worked on quite a number of enterprise-grade and mission critical projects. My work record is impeccable and no matter what happens to the token sale, I intend to emerge with my reputation intact; if for some reason this won’t be the case, it will severely impact my future employment prospects which is not something I am willing to risk.

Q: Nxt is controlled by a dictator doing hardfork attacks all the time. It’s a proven fact. What will you do when Nxt API changes and your services break?

Bjorn: Hypothetical question?

apenzl: FUD.

Bjorn: Our primary goal for all holders of Janus is security and longevity with the means to track users tokens held to deliver proper profit sharing percentages. We will adapt or use any platform necessary to carry this out, Nxt was chosen specifically for it’s secure and proven track record though. Janus will adapt if needed to any threats.

Lobos: One of the reasons we are donating 5% of token sale proceeds is that we wish to help put the Nxt foundation into a position which will enable it to continue the stewardship of the Nxt blockchain and its associated technologies.

Q: It isn’t guaranteed that Ardor will launch. Might be vaporware. Are you going to stick with old Nxt when Ardor doesn’t happen but other fancy fast scalable blockchain 3.0 solutions launch?

Bjorn: The best part of Janus is really the fact that platform choice is more of a convenience than mandatory, profit sharing is delivered in Bitcoin, and using Nxt currently to track Janus tokens per account. If at any point a new method to track distribution of Janus owned is needed, we will make this happen, even if it means launching our own private blockchain. We personally hope this never happens, because one of the great things about Nxt/Ardor is the developers and foundation. They put so much of their time and lives into the Nxt platform, thus allowing groups like the Janus team to focus on the use of their hard work and efforts. Our team believes in using the tools available to achieve success, this is why our focus is on business and not trying to advance a technology that’s already a decade ahead of mainstream adoption.

Lobos: We can only re-iterate that Janus is not a blockchain technology play but a business play. The underlying blockchain technology is actually quite irrelevant to us as long as it is actively maintained and supported. NXT has an impressive track record in this regard which is the primary reason why we chose it as technology base for Janus.

Q: Look at the Waves ICO. No code but pretty pix and promises at the time. It made them 16M USD equivalent. People like GUIs. It’s the same with Komodo. grewal posts screenshots of an easyDEX GUI and the crowd goes wild. Could we ask Janus for something to look at? A screenshot of the GUI from one of your promising projects. You plan to launch a business in Q2, you must have something. As long as it doesn’t give away some “secret”, could we have a look?

Bjorn: Yes, and we plan to show at the bare minimum, some of the things our framework for sites to come looks like. Including projects already using some of this in the wild now.

Lobos: Having been a software engineer for 25 years, I can not stand to simply push out code which just happens to work and is a complete mess. As such, one of the things I have done is to develop a framework which allows for a modular codebase and avoids the mess that monolithic codebases tend to become over time. The first public site implementation based upon this framework is actually the Janustoken.com site.

In addition to this, I have developed and own the copyright to code which can be used to implement Realty and eCommerce sites. This code has been implemented over the course of many years and has evolved to handle complex business logic while retaining its flexibility. Unfortunately the code has been written for a legacy architecture and needs to be refactored to properly fit into our new framework, but refactoring a codebase is many times easier than writing one from scratch, especially so if you can preserve the business logic which has evolved over the course of many implementations.

As a final point: over the past three to four years I have mostly been busy working on contract basis, mostly utilizing proprietary frameworks for large-scale customers. I can point to sites such as https://ice.com , http://vulkan.com, https://www.worldshop.eu and many others that I’ve helped implement. The most active site running an ancient version of my realty package is http://www.lrossa.com, a major booking engine for the region of Istra in Croatia.

Ad3: I have checked to my satisfaction that lobos (Robert) has been involved with the development of the sites mentioned above.


JANUS UPDATE:

ICO “CANCELLED” –
JANUS IS TRADING ON THE NXT AE

December 5, 2016

On December 5th, the Janus Team decided to stop the ICO and return all funds raised to their investors. Read details about the refund HERE.

Bjorn_bb writes:

The pace of the original sale was not going to reach 3500 BTC as was required to allow for such high revenue dividends, therefore we took a decisive course to allow investment directly here: https://www.mynxt.info/asset/4348103880042995903

Details:

[ICO] Janus on the Nxt AE

UPDATE 2:

Dividends are being paid monthly, 90% $NXT from BetterBets.io | 10% $ETC from https://etcbets.com, and their planned businesses are being built, the roadmap is being followed.

Latest updates:
https://nxter.org/ae-janus-4348103880042995903

Website: https://janustoken.com/
Bitcointalk: https://bitcointalk.org/index.php?topic=1677509.0


Disclaimer: This post is for general information and news purposes only. It does not take into account the reader’s personal circumstances, objectives, or attitude towards risk. It is not (and is not intended to be) any form of advice, recommendation, representation, or endorsement by the author or the website owner and should not be relied upon when making (or refraining from making) any investment decision.

Nxt assets “Under the Knife”

To date, almost 800+ assets have been issued on the Nxt Asset Exchange (AE) since it was launched less than 3 years ago, as the first implementation of the coloured coin concept in crypto.

Some assets have gained magnificent market cap, in some periods even outperforming its reference currency, NXT. While others have been issued as experiments and some have, unfortunately, been scams.

The Nxt AE has been running secure and stable during all this time and continues to impress issuers and users with its advanced built-in features. In the Nxt Client, you can easily search for assets by their unique asset ID – but how can you find these IDs? You can trawl through asset threads on nxtforum.org or you can check an asset list on a Nxt Blockchain explorer.

That’s it. Because to this date, we have not had any service or central hub dedicated to rating, describing, or warning against fake assets.

How to find the good assets?

On the AE there’s no built-in hand holding. No regulation, no government protection, as it’s a 100% decentralised global asset market. There is no built-in KYC registration (such can be implemented on Ardor child chains), so investments and trades made on the AE are based on whether you trust the issuer / business or not.

Do your due diligence. Investigate. Ask questions to the issuer.

Experienced AE traders know this. Asset issuers should be aware of it too and go a long way to provide details and quality answers to their potential backers. But, let’s be honest, more than a few asset issuers got shocked by the community’s “guilty until proven trustworthy” approach, felt attacked, and ran off from NxtForum, after going in there full of energy and ideas, pitching their most promising project in an [ANN] thread, combined with a well-prepared business model (or not!), and possibly even a 100% working product to give ROI to their investors – if only they’ll back the startup.

While some campaigners may have only spent minutes on writing their pitch (and, thus, will be ignored), others have worked hard for months, or even years, on their business idea or software before finally seeking funds.

In both cases, the campaigners will be questioned, thoroughly, about their personal backstory as well as their business plan and product or service offering. If there are obvious holes in the issuers’ plans, it will show, and critical questions, and thus, judgement from the masses might not always come out politely in such cases. Wise asset issuers / campaigners thank the community for the free consultation and up their game and announce the necessary changes to the plan. Or, they defend their plan because it’s well thought through and fine. Campaigners would know if such a response was successful or not through the follow-up feedback from the community.

Either way, the process is tough on issuers. Some feel confident, others humiliated or trolled. Some give good answers while others can’t handle the stress and finally answer back aggressively. Unfortunately, then they lose out.

This is bad for investors. Not if the asset was a scam, of course, but unfortunately it isn’t always so.

So back to the question: how to pick the good assets – and avoid the bad?

[ANN] Nxt Assets “Under the Knife”

ae-knifed

In a new interview series hosted on Nxter.org, I will approach asset issuers with questions that are relevant to AE investors. I won’t be soft. Thus the title for the article series: “Under the Knife”.

Issuers will get an opportunity to read the article before it gets published. This is to give them a chance to make changes to their approach instead of having potential flaws revealed out in the open, on the oh-so-never-forgetting internet (who wants a “scam” post connected to their new great business name on Google search results?). Asset issuers can refuse to make an interview, but they can also ask for one to be made.

If an asset issuer decides to sponsor an article in the series, they won’t be guaranteed any recommendation. It can only be guaranteed that we’ll do our independent research and due diligence and publish it, which may turn out to their advantage – or their disadvantage. No asset sales are guaranteed.

Why?

Nxter.org works independently, yes, we’re a rare case. We’ve proven more than once that we can’t be bought. We exist to provide readers and investors with non-biased information. With this approach, we also give issuers a more seriously researched article, to which they can point both forum trolls and interested investors, instead of wasting time on answering the same more or less relevant questions over and over again in different chat rooms, private messages, and forums.

There are too many scam ICOs in the world of cryptocurrency but there are also too many hidden opportunities on the AE. The current situation is bad for investors and bad for crowdfunders as well, so let’s try to give both parties a helping hand. If you’re interested in helping, please contact us. In parallel with the interview series, we are building the nxter.org/assethub. More info about that will be available asap.

Who’ll get cut?

Time will tell. The first interview has been made with the Janus project. It felt natural, as they are currently hosting an ICO. Janus is a start-up business conglomerate that will be using the Nxt dividend feature to distribute BTC dividends, and may also implement their Nxt AE Janus token in some of their businesses…. or so they say. Check nxter.org tomorrow and read the first “Under the Knife” asset issuer interview.

Related posts:
Under the Knife #1: The Janustoken

You can subscribe to the Nxter News list, if you want the interview sent to your mailbox.

Jelurida Q&A – Nxt core devs mean business

On October 07, 2016, Damelon announced the incorporation of Jelurida BV, a new startup software development company consisting of Nxt core developers Jean-Luc, Riker and Nxt Foundation member, Damelon.

Jelurida BV, as holder of the intellectual property rights for the Nxt software and the Ardor platform, aims to create a sustainable and thriving business around the Nxt ecosystem by providing software licenses, maintenance, and services to a new breed of blockchain-based applications.

The ninja announcement of a “Nxt company”, and the fact that the lead developers of Nxt and Ardor were going to monetise their services and IP naturally sparked discussions in the Nxtchat Slack channel. Damelon posted a few answers, but asked the Nxt community to save their further questions for a Q&A session with the core developers, which was to be kicked off Sunday.

martis [2:09 PM]

so Nxt became a company?

Damelon answered (before the Q&A):

damelon [2:10 PM]
No, the devs are in a company now (including me, who is also on it). I am managing director. It’s a Holding with two separate BVs contained in it. There is a BV that holds the IP and a BV that is “active” and signs.

The main purpose is to ensure that the code is protected, and secondly licensing to generate a cash flow. The direct benefit is continuity and more possibilities to actually partner with companies. That benefits the community and holders. Even if licenses are sold for private chains, this means the devs are funded which means they can continue to work on the code without having to hold down other jobs. It also allows us to grow the developer pool with quality people which also benefits the code and users.

The way we want to create value for holders is by ensuring we deliver value in the form of the software and in attracting customers and users to the platform. It’s another step in professionalizing and it’s also a big step towards making sure Nxt and Ardor will be sustained into the future. The Nxt code is and still will be under GPL, so public chain use is not affected.

Also, this is about the IP mostly. The devs do not want to let the copyright out of their hands. Handing it over to the Foundation would leave them at the mercy of other people. Having it consolidated in their own company allows them to keep control in situations where it’s needed, like when licensing is involved.

The Q&A

The Q&A session took place in nxtchat.slack on October 09, 2016, 20:00-21:46.

This is a summary of the event. All questions about expected ups and downs in price and “how to use Ardor” have been removed from the summary. For a general FAQ about Ardor, the Ardor token ARDR, and Ignis distribution you can visit the FAQ thread on Reddit.

Now let’s get to it.

riker [8:05 PM]
Ready for Q&A guys ?

legs11 [8:06 PM]
yes

damelon [8:06 PM]
@channel The devs are here, so please shoot your questions.

Ardor

jean-luc
development is on track, but it takes time. schedule is unchanged for now. nothing has changed really in the project direction, or our plan for ardor.

riker
We feel good about the project direction and we do enjoy our work.

jean-luc
it is a challenge to keep the code simple. the code is based on Nxt, intentionally so that to minimize bugs, but I have started some refactoring which makes further merges from the 1.0 codebase harder.

Jelurida

jean-luc
Jelurida plans to make money from licensing, support, and consulting

legs11
Any chance of us buy into this company at this early stage ?

jean-luc
it is a private company, the general public can’t buy into it

durerus
Who owns how much percent of the company?

jean-luc
This information is confidential.

durerus
Can you describe what a paying customer would get?

riker
License to change the NXT core code for their purpose. License to use a private blockchain. Maintenance, support and consulting.

Many organizations will never use a public blockchain because of regulatory issue or confidentiality. We would like to get into the private blockchain niche

josenxt
Doesn’t ComeFromBeyond, for example, have anything to say about this?

jean-luc
CfB has written code under the MIT license only. The developers who have contributed code under the GPL have transferred their copyright to Jelurida.

as we speak, banks and financial companies are cloning Nxt and using it privately.
By getting them to pay for it, we plan to make future Nxt development self sustainable

apenzl
Which IP rights are Jelurida going to “protect”?

riker
People are currently copying NXT left and right, even if they want to pay for NXT they didn’t have whom to pay. If they don’t pay, we can now go after them. That what it means to protect our rights.

jean-luc
In the absence of a single legal entity which owns the copyright, it is hard to enforce the GPL, we have seen examples of it being violated by companies who know there is no one to sue them

conversely, if a company does want a commercial license, and is willing to pay for it, it is hard to do legally without a single legal entity that has the copyright, as the case was until now.

Jelurida for investors

durerus
So you wanna get into private blockchain niche. Can you tell us why this is good for investors in the tokens ARDR, NXT and IGNIS?

riker
We can use the funds we receive from private chains to promote the development of the public chain which will in turn provide marketing and public relation for NXT/Ardor and bring us more private chain business. We hope to obtain such eco-system which provide win-win situation both for the public token investors and private blockchain customers

kasp
it doesnt seem fair for the token holders honestly, lets say you are now investing 60% of DEV in private chains and earn decent revenue, how are devs still motivated to work on NXT/ardor + it will only slow down progress

riker
I think we have to realize that the current model of using community funds/donations to promote NXT does not work. This new model has much better chance.

Again we hope to generate positive feedback in which private blockchain profits are used to promote the public blockchain which in turn supports the private blockchain

bidji
Current system is not sustainable, dev need to earn money.

But i’m afraid the incentive to work on the public chain will be too low. Imagine you are successful and you have a lot of contracts to build private blockchains. Since you get paid for it you have to focus all your ressources on those contracts. What happen to the public blockchain in that time? it will be put aside. Basically there is a conflict of interest between successful public blockchain and successful private business. What do you think?

riker
We won’t be able to sell private blockchains unless we have a successful public chain. We all realize this. NXT promoted Jelurida and Jelurida will promote NXT. The challenge is to create a win/win situation and we need your support for this.

willtate
I think better public relations would go a long way to bringing in customers as well as new devs. Is any more activity in this department planned for the near-term?

riker
Yes, not sure we can share concrete plans at the moment. We’ll start with a website and all the marketing materials expected from a startup company

logan
Will you inform the community about new deals etc?

riker
As a private company we probably won’t share everything publicly. We may issue press releases on signed deals etc

vprf
If I am a company in need of a private chain. Why use NXT/Ardor/etc… over a different crypto?

riker
(1) POS is much better suited for private chain then POW
(2) You can develop in Java and not in some weird scripting lang (i.e. ETH)

vprf
Why not Lisk then if Java and POS?

riker
We have 2 years advantage and we have a more experienced dev team

vprf
I would rather deal with real people with real names. Just sayin’

riker
Jelurida has public directors listed in the Dutch trade registry. The identity of the actual developers has no significance the same way you don’t know who are Java developers but you trust Oracle to support Java.

Don’t you know Bas? Didn’t you watch my latest presentation?

wolffang
Will the private blockchains be made with nxt now and later with ardor blockchain or always nxt?

riker
For now private chains will be based on NXT of course. We will probably transition to Ardor when it’s stable enough

jean-luc
depends on demand, but Nxt 1.0 is tried and tested technology, and Ardor is an overkill to use as a private chain for a single company. Most of the Jelurida private blockchain customers would not need the complexity of Ardor, with its multiple child chains.

Hiring devs

almonte
Now that you have settled down a company, are you thinking about recruiting more developers in the near future?

jean-luc
yes, but it is a chicken and egg problem… hard to recruit developers until we have at least few paying customers

if we get serious demand for private chains, we would also get licensing fees and income that allows us to hire more developers

josenxt
How is Jelurida going to encourage new devs to join the development team when they know for sure that their work won’t be credited? Just for the money Jelurida will pay them? Will all the new devs be writing code for Jelurida and not for the Nxt community from now on?

riker
Jelurida intends to either pay salaries or give shares to compensate developers (perhaps both). Some of the code may be developed as closed source code and some will be shared with the community.

In the future there will millions of blockchains some public some private we want as many as possible to be based on NXT.

jean-luc
new developers after short training would be dedicated to support and feature development for private chains first, so that the more experienced core devs can focus on Ardor

Jelurida and the Nxt community

rubenbc
how is Jelurida going to support the community if it is a private company?

logan
I can see the Promotion effect of public chains for private chains.. but i dont see it for the other direction. Why should Ardor get more value if a Company will use the tech behind it? That makes no sense to me.

riker
I hope that Jelurida and the NXT foundation will share the profits

farl4bit
How do you encourage the community to continue to work as a volunteer knowing that their developers and the leader of the foundation may be working for private solutions?

riker
Would you like the devs to work for free or almost for free forever? Jelurida will work together with the community to advance NXT/Ardor and make it into a sustainable business

wolffang
What is the role of the community in this new situation? Can happen that People now leave that were good contributors. How to prevent it.

riker
Jelurida will open up doors for NXT activists to get real paying jobs in dev, consulting, support, training

josenxt
Would you like the rest of the Nxt community to work for free or almost for free forever AND FROM NOW ON to make bigger a private company like Jelurida? :point_left: It could be seen this way

riker
If Jelurida is successful there will plenty of funds to pay everyone.

Final words

josenxt
Will we see in 6 months from today another big surprise (like Jelurida’s) which is currently being cooked behind the scenes?

jean-luc
hopefully sooner

Wolffang
@riker when is the nxt mobile app release planned?

riker
It’s ready for initial testing but we want to get Jelurida and the Ardor token distribution first

riker [9:43 PM]
Enough for today ?

farl4bit [9:46 PM]
@riker @jean-luc Thanks very much! I am looking forward to more of these sessions.

And that’s it, folks.

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For more Nxt & Ardor news, see: http://nxter.org/newsletters 

DeBuNe – a Decentralised Business Network on the move

NXTER.ORG’s RubenBc interviews Roberto Capodieci, who is the CEO of DeBuNe (Decentralised Business Network) and OTDocs.com (Open Trade Docs) and also the Founder of TheSoundKey.com + Go.Notifile.me.

Roberto has extensive experience in the IT and business sectors. At age 10 he developed and sold his first video game, began his IT entrepreneurial career when still in his teens and at 20 years’ old was running an office of almost 40 developers and software engineers.

On January 16, 2015, he announced DeBuNe in Nxtforum and 10 days later began a successful fundraising campaign.

Roberto sees himself as a farmer with a seed in his hand (DeBuNe), a good fertile field to plant it in (Nxt) and needing only some more water (investors) to be sure of a bumper harvest.

RubenBc: Roberto, I’m delighted to be speaking with you and look forward to learning about the technology that you’re presenting to us. First of all: What is DeBuNe?

Roberto: Thanks Ruben –  it’s great to be chatting with you. Basically, DeBuNe was born with the aim of decentralising business processes. More specifically, putting business processes on the blockchain, delegating the execution of pre-agreed decisions to smart contracts and phasing transactions. DeBuNe therefore enables entrepreneurs to put the administrative aspects of their business relationships on auto-pilot. This of course means they can then focus much more on the aspects of their work that require their key skills.

RubenBc: What types of project are currently running on the DeBuNe platform?

Roberto: Before having the chance to become a service open to everyone, DeBuNe has become a technological foundation for other projects of our own. We’ve been using it as a platform to implement some of our other technological solutions:

For example, OTDocs. This was the first project to use DeBuNe decentralised business process solutions to help manage documentation in international trade finance. We’re currently working on proof of concept pilot projects with several banks in Singapore and Australia.

Another of our projects is TheSoundKey; this is a small hardware device you can use to digitally sign blockchain transactions while making sure your digital identity is absolutely secure at all times.

Last, but not least, our latest project – my favorite and for sure the best – but it’s still top secret! One of the four versions of this project, http://go.notifile.me, will run on the Nxt blockchain, and will hopefully help to keep Nxt alive!

RubenBc: Do you require a new financing round? If so, will you be making use of the Nxt platform to raise the finance?

Roberto: The short answers are: not yet and yes I expect we will be doing so but only when the time is right. Nxt of course is not only a platform, it’s also a community and it was the amazing enthusiasm and support of the Nxt community that gave me, and the rest of the team, the courage to drop everything else and focus 100% on DeBuNe and collateral projects. The funds which we raised initially represent less than 10% of what we ourselves have invested so far.

The income generated by the DeBuNe projects is distributed according to asset ownership which in practice means that approximately 25% is distributed, as revenue share, via the Nxt platform, to the individual asset holders and the rest is retained by DeBuNe to cover the running costs. This is why DeBuNe will never put up for sale in the market more than 50% of the total amount of assets.

To support our efforts we have started offering consulting on blockchain projects, and implemented a couple of solutions. We are now hoping with our most recent (and still top secret) project to generate some fast income, and at the same time we are closing some paid pilot projects with some banks in Singapore.

We haven’t yet accepted any seed fundings with our startups because, before we sell any equity to investors, we want the companies to be worth as much as possible. In this way we’ll be able to raise the necessary finance without having to give away too much share capital.

RubenBc: I’ve read some of your articles, blockchain technology clearly fascinates you and specifically the Nxt blockchain…. How do you think DeBuNe can change the way a business is run?

Roberto: Through data decentralisation, combined with the use of digital signatures and thus identities, secure “timestamping” of transactions, non-repudiation, and pre-programmable actions. These are all key aspects of how DeBuNe can prevent business processes from being manipulated by any third party.

Two other things are needed. First, a reputation management system that lets everyone know how much trust they can place on a user via his digital identity (i.e. their public key on the blockchain with which they sign all their digital transactions). Second, coupled with that, a good decentralised KYC system which ties a person’s or company’s real identity to their digital identity. Together these two things will empower people and companies all around the world to do business with each other, regardless of where they are located, or what prejudices other people may have of them or indeed they may have about other people.

RubenBc: What Nxt features are you using?

Roberto: We pretty much only use the messaging system and sometimes the Alias System. We may consider the use of Phased Transactions.

RubenBc: We have started 2016 with a remarkable increase of confidence in the crypto ecosystem thanks in part to the prospect of another large crisis in the financial markets. What will happen with DeBuNe during 2016?

Roberto: DeBuNe will take time to release a finished product, due to several legal and practical (funding) reasons, but it has opened the doors to the means to get there. DeBuNe sub products will see the light of day this year, and I am very confident that they will succeed!

RubenBc: Do you think that the growth of Nxt’s adoption and other cryptocurrencies will be constant, progressive or will there be an event which will make it grow exponentially?

Roberto: As with any new technology there is a huge need for education in order to gain adoption. At the moment though, the “blockchain” is just a buzz word and every financial institution thinks it needs to have a project involving one, even if in most cases they have not much idea of what it means. And, at the other end of the supply chain – the end users – don’t even know what they are using.

I recently overheard someone expressing his surprise that to use Facebook he needed an Internet connection: to him Facebook was an application on his phone, and had nothing to do with the Internet. It will therefore very likely take a few years before this person understands crypto platforms!

Roberto Capodieci: https://sg.linkedin.com/in/debune
The DeBuNe whitepaper: http://debune.org/DeBuNe.pdf

Read more about Roberto Capodieci and his background + blockchain visions in the The First Nxt Book (to be published in late February/early March 2016).