Ask Me Anything with Crypto Titans
We recently organized an AMA event with crypto titans and the tweet collecting the questions had close to 2000 comments! The live Telegram and the quiz during the AMA had huge participation as well. Below are the questions asked and selected, including the answers from the team.
Q1. Can you please introduce yourselves as well as AID:Tech?
I am Joseph, CEO, and Co-founder. I have a background in banking and telecommunications. I have a degree in Software Systems and a Masters in Computer Science, Strategy, and MBA in Digital Currencies.
I’m the UN Sustainable Development Goals Pioneer for Blockchain globally as well as the WEF Social Entrepreneur of the Year.
I am Niall, COO, and co-founder. I have a background in software design and development. I led the design and development of many award-winning apps and platforms. I worked in over 40 countries and oversaw the growth of 3 products for a leading global bank.
AID:Tech enables people to own, control and manage their Identity. Our technology enables users to build an Onchain reputation and get rewarded for their social efforts, and in the process build up a ‘reputation score’. We’re backed by some of the most considerable funds in the world and have been building since 2015.
Q2. What are the advantages of Your project?
In AID:Tech, we have been building the innovative Volunteer & Earn platform. You can build your on-chain reputation and earn rewards for your social efforts. We enable people and organisations to capture the value of their time, efforts, energy, and contributions to society. We currently have three products:
First one is Kaulana, the main Volunteer & Earn platform. This is a decentralized reputation & rewards-based system to facilitate Proof of Volunteering via Proof of Reputation Protocol (PoR) which will be multi-chain including Cardano.
Valise is a wallet built on the Algorand blockchain and we received a grant from the Algorand foundation to build it. We will publish the app both on Google Play Store and Apple App Store, and it will be available to millions of users, initially in The Philippines and then in other South-East Asian countries. The Valise wallet will work with your bank account and will be used to pay utility bills, top-up mobile phones, shop in stores, and cash in and cash out at retail outlets like 7-Eleven. AID:Tech partnered with Netbank (a Rural Bank), Inc., to provide a PDIC-insured bank account. Deposits are insured for up to PhP 500,000 per user.
Our Kokua platform provides disbursements for Disaster Relief using AID:Tech’s TransparencyEngine Technology, which enables Fast & Instant Disbursements to Survivors Via Digital ID & Blockchain. In summary, our platforms will be multichain, including Algorand and Cardano.
Q3. please tell us about the goal you want to achieve this year.
We would like our community to reach millions of people so that all volunteers, disaster victims, or simply users who want to benefit from our technology can all come together under one roof which is AID:Tech. We will develop products that allow every internet user to create an Onchain reputation.
This will be owned by our users alone, inaccessible to any 3rd party. We will offer a seamless web3 wallet that captures people’s effort, time, and social impact to prove value.
You can volunteer, earn, stake and even donate your earnings to your favourite charity right from our app. This will all be on the blockchain which cannot be changed, hacked, or manipulated.
Q4. Every project has a story behind their name, Can you tell us more about the story behind this? Who are the team behind this project? can tell us their background?
There is a Hawaiian word that embodies being celebrated and renowned for doing good, and that word is ‘Kaulana’. We chose Kaulana as the name of AID:Tech’s Volunteer & Earn application which enables Volunteers to get rewarded for their time, effort, energy, and contributions. Kaulana users can build an Onchain reputation, and with more effort in volunteering, they earn more VAE tokens.
AID:Tech was established in 2015 and was the first company worldwide to deliver international aid over blockchain technology. Since then we’ve been merging digital identity with payments and are on a mission to enable people to take back control of their data and participate in the value capture that Web3 promotes. We do this by enabling users to build an Onchain reputation to capture their time, effort, energy, and contributions in the physical and digital worlds. AID:Tech has a social mission at its core and we reward people by Volunteering and Earning!
Q5. NFT is one of the hottest and most sought-after topics in the blockchain space right now. Can you share your opinion on NFT with us? Do you think NFT will disrupt the current financial system? What is Your project’s approach to the NFT sector?
We will have Digital ID (DID) NFTs for our users. These will be in NFT format and you will be able to use these NFTs to prove your identity to other parties on the blockchain. NFT DID serves as a nontransferable Onchain reputation signal. Volunteer And Earn “$VAE” is a normal token used by the DID NFT owners.
$VAE tokens can be used as tradable currency. Moreover, because $VAE tokens accrue to holders of NFTDID, $VAE Tokens also have a link to the underlying reputation.
We will also have accolade NFTs later that can be traded.
Launching projects in a bull run is obviously much more profitable than during the bear cycle. In a bear run where most of the projects fail and sometimes go into oblivion, how will AID:Tech stands the test of times?
At AID:Tech, we not only survive but also thrive during the bear market. We have an outstanding development team, and we focus on building real-world applications in addition to our community. Our community is the most important factor in our platform, as we value our volunteers and users to create an impact on others’ lives. Bear or bull, we help people volunteer and earn, and we will have a staking and donation mechanism in addition to earning right in our wallet. Our Valise wallet can be used to purchase goods and services, pay for utilities, and it is not much different than using FIAT as it is accepted in thousands of stores and recognized by the central bank of the Philippines. We have a collaboration with a Filipino bank, and we can use all their capabilities to work with not only crypto but also with FIAT.
Can you talk about the long-term investment strategy that AID:Tech uses for users? Since most investors are only concerned with the short-term gains from the tokens rather than the long-term value of the project, what can we expect from AID:Tech in the long term?
We have huge announcements coming up soon, which will have worldwide implications for not only AID:Tech, but also for crypto, volunteering, and Web3 in general. This significant impact will have long-term effects. We have been working in this field since 2015 and we will be around for a long time, helping people and communities through our volunteers, charity organizations, and donors. We have a large pool of donors and we will continue working with them.
We have also won many international awards from some of the biggest organisations in the world like Citi, IBM, Mastercard, UN etc.
What is the most highlighted feature in your platform that can make it stand out in the market? Does AID:Tech open for beginners or only for crypto experts? How would you welcome non-crypto natives to explore your platform?
We have been working with non-crypto people for 7 years and have been using blockchain to prevent fraud in aid. For example, a mother in Tanzania can use her QR card to receive medicine for her newborn baby from the doctor thanks to our donors and local authorities. Check out our small video explaining how here:
We have something for everyone. People who simply download our Valise wallet and register with Netbank will be able to use crypto to pay their utility bills and spend their money in thousands of locations including 7-Eleven, CVM, Bayad Center, and stores with ECPay. Our users will be able to deposit in 15K locations and withdraw money in 7K locations. This is all coming in September!
Crypto experts will be able to use our $VAE token, stake, and trade in various exchanges in addition to earning through volunteering.
All the goals of your project are absolutely great, But One of the main factors users looking for in the crypto project is the use cases of the token. So what are the Use cases of the $VAE token in your platform? What is your plan to increase the adoption of the $VAE token?
With our three platforms, you can stake, shop, and donate with our Volunteer and Earn token $VAE.
The token will be rewarded to those who volunteer. This volunteering action can range from helping survivors, or the victims of natural disasters, to doing pro bono work by lawyers, to encouraging students in coding and computer science. In fact, we have a collaboration with the STARS program in the US which is a volunteer organization, funded by the National Science Foundation, and their university students help other students with coding and help especially women join in computer science. We all need solidity coders and full stack developers so our volunteering program can help the crypto world in general. Volunteers earn while doing what they love, and then they can stake, shop or donate their earnings.
Join our waitlist and use your ref link to invite others. We will soon add stablecoins as a reward to our waitlist!!! Every 10 refs will receive 1 USDC. Start adding now and be involved as we will take a snapshot of your refs soon.
Fill out this google form to receive your reward when we take the snapshot:
It has been written that one of aidtechnology’s most appealing features is the rewards it offers to its owners. that’s fantastic news, but how did they pull it off, and how will holders be rewarded for their patience?
The holders will be rewarded with dividends from the staking rewards pool. We are still working on tokenomics, so feel free to join our community in telegram https://t.me/aidtech and write your suggestions to one of our admins in the group. None of our admins will DM you first, so write your comments in the group and feel free to discuss them with other people. The holders will be able to use the VAE token, shop with it online, in physical locations, and they will be able to stake their tokens through our platform, or they can simply donate it. One of the features of volunteer action is to help others, so by donating your earnings, you can double the goodness and double the fun of volunteering!
Now, please choose the best 5 questions and answer them
Is your Project A COMMUNITY only for English speaking few countries or for users not of other languages?
[In reply to Hart Vincenzo]
We’re expanding our community to be worldwide! Initially, it’ll be English focused, but with help of the community, we’ll have French, Spanish, Arabic, and Mandarin very soon.
Do you have any plans to add NFTs to your ecosystem as this is the hottest topic in the crypto space?
Niall Dennehy [In reply to Halen Killer]
We use NFT to enable user’s to mint their Digital IDs. Our token uses a dual-structure approach where VAE is the token that is used for liquidity, earning, staking, and donating!
I see AID Tech is World 1st Volunteer-And-Earn Protocol. My question is how do we Earn VAE tokens from your project? What do I need to do? Does AID Tech have any games that I can earn through?
Niall Dennehy [In reply to THE SADHOW]
We enable people to sign up using a consumer app, prove their personhood, and set up events where they can volunteer with friends, family, and colleagues. All tokens are earned via volunteering — first of all, it will be in real life, and in the future, it will also be virtual.
Your Project technology Web 2 or Web 3?
Niall Dennehy [In reply to Crypto Investor]
It straddles both — we’re very much building for a future where people self-custody their own assets, but will also cater to non-crypto natives.
Dhaka R Pola
CAN you explain how is your Tokenomics Distribution? How many tokens Will be minted? And How many tokens Will be locked by the team??
Niall Dennehy [In reply to Dhaka R Pola]
We’re still working on the Tokenomics, but keep an eye on our Telegram channel for some news COMING SOON!!
We’re Done With This session now 👍
Now, It’s Time For Quizzzzz 🔥🔥🔥🔥
We will drop a link for Quiz Form here now guys 😎😎
Just 3 Questions, you must answer all of them correctly 😉😉
10 winners will get 20$ each one
Let’s do it 🔥🔥🔥
AID: Tech Links
Website: https://www.aid.technology 🌍
Disclaimer: This article includes some forward-looking statements made in light of information available at the time of preparation. None of the statements made here are financial advice, always DYOR.