idledger AMA with theblockcircle
AMA

Idledger AMA Transcript

AMA (Ask Me Anything ) was conducted with Idledger on 27 January 2020 at 3:30 PM UTC live on our telegram group .

Participating team members from Idledger and their introduction :


Max Breus

Co-founder of IDL

Johan

Advisor

Roman

Hi guys, I am Roman, CMO of IDL.

About Idledger :

As to IDL – this is our attempt to generalize blockchain technology. In addition, this is an attempt to resolve legal issues when embedding a blockchain in real business processes. We also pay a lot of attention to interfaces, so this is also a social business network.

All three aspects are important here. The hardest part is the protocol. Formally, this is a DAG consisting of blocks that are created by various blockchains that are part of a single network – the synthesis of blockchain and DAG.

Community Questions :

Q. Can you briefly describe what is UBIKIRI in 3-5 sentences?
What technology stands behind UBIKIRI and why it’s better than the existing one?

Ubikiri is a super application (such things as Wechat seem to be called) – with common identification, payments, signing contracts, creating our own blockchains and micro-applications that are integrated among themselves. We made the general architecture, we are very actively developing it further. You can look at ubikiri.com or check our iOS app in Appstore.

Q. Is IDL and Silent Notary able to go parallel?

yes, they have a common identification module (SN and Ubikiri) + SN uses IDL network to store user’s data.

Q. Is protocol able to handle all cases worldwide?

Yes! We do not need special legal adoption, we can work within the framework of existing legal regulation around the world.

Q. if new person want to know about ubikiri platform How will you describe ubikiri in few words? What is the importance of community support for ubikiri? which steps are taken for this purpose?

Ubikiri is a super application. An interface. Our online wallet. A social business network that will be used by companies to make payments, to sign (legally binding) contracts and it will host our applications. Ubikiri will be the center of all that we are creating.

Q. Can you highlight some of the latest Development Activities & Announcements 2019 and Whats Future View from the UBIKIRI NETWORK Team regarding the UBIKIRI NETWORK project development?

We have quite active work on the development of all components, you can see daily reports in the announcements channel about what has been done for each day: https://t.me/IDLannouncements
Of the major recent updates – the publication of our application in Appstore last week.

Q. You are an official partner of Foundico.com. How will this partnership impact Ubikiri and the community? and which other partnership are you looking forward to in the nearest future?

Not of Foundico but of TheBitcoinNews (big cryptocurrency news website), Masternodes online (biggest website regarding masternodes), AlphaTradingZone (one of the biggest traders communities), they all really believed in our idea, estimated the work done and become our partners.

Of course, it gave us really big coverage and a lot of new supporters.

Q. Can Ubikiri helpful in binding new laws using public integration?

This is exactly what we started to do it for. Users can develop their blockchains that are suitable for local legislation and that correspond to their existing business processes.

Q. What roles do you think community can play ?

So far our community has been very helpful in promotion, giving feedback & new ideas, even forming private workgroups to help us with certain tasks. So, the community is a very important part for us.

Q. Could the community be useful in any way regarding marketing, or somehow spreading the word around to potential clients/businesses that would benefit from your project?

For sure. We are really proud of our community members, some of them even became our advisors (as Johan, for example), they are truly helping us in achieving our common goals.

Q. Could you tell some products you have built for your businesses? What do you intend to do to keep increasing adoption? What is your vision in next few years?

So far our eco system exists of Ubikiri, SilentNotary, CryptoTribunal, Bankstroycontrol and CrowdFeeding. Our intention is to focus on our super application Ubikiri for mass adoption.

Q. What role do you think Ubikiri Network will play in making blockchain highly adaptable in the worldwide stage?

Our goal is to make the same universal application as Wechat – with micro-applications, transactions, general identification. For a crypto project, this is very important – because the technology is very complicated for the average person, and this should be offset by a convenient and simple interface.

Q. I’m aware that Ubikiri had changed it marketing approach. Why did you change your marketing approach? and are you happy with the new approach you adopt? Have you started seeing positive changes with the present approach!

Yes. We have tested almost all the existing marketing channels and already have a knowledge of what is working and what isn’t.
If to say precisely about most recent successes:

  1. Media coverage via our partners TheBitcoinNews, Masternodes Online, AplhaTradingZone, and FoundICO. If to say about figures, we got media services equal to 30,000 USD.
  2. Media coverage in Forbes, NY Times, Huffington Post and/or some big crypto media is around the corner. We expect some big PR articles in the nearest time.
  3. We have achieved quite low PPC in Google/FB ads — about 0,03–0,04 USD per click. If needed, I can provide some screenshots without problems.

Q. What have you learned from early versions of the product or service? What are some of the major roadblocks along the way?

Ubikiri is our online wallet and social business network. Our DAG blockchain is IDLedgers. We will try to solve these problems through our DAG (no high costs since there are no mining fees) and faster transaction speed (also because of our sharding tech).

Q. What’s the function of SNTR token in the ecosystem?

SNTR is becoming part of the ecosystem. We run a notarial consilium and integrate interfaces (silent notary apps & ubikiri).

Q. What are your long-term vision of where the industry Ubikiri work? How do you plan when someday there will be another project with more innovative technology can replace Ubikiri?

Please note that our product is IDLedgers, not Ubikiri – Ubikiri is just the wallet and social business network.

Q. How to integrate mass adoption of laws over Blockchain?

To do this, we allowed users to define the Rules of the Consiliums (paragraph 2.2 of Lightpaper) – this is not only a program code that determines the procedure for reaching consensus by network nodes, but also a legal contract that defines the legal relations that arise between users when using this blockchain.

Q. What is the Major problems are in Real life which $UBIKIRI PROJECT is trying to solve or Solving ?
Also, Explain How & whats the importance of Blockchain in UBIKIRI PROJECT ?

Public blockchains are almost useless for real business: there is no legal regulation of relations between node holders and the development team, you need to use cryptocurrencies with an incomprehensible status. Therefore, big business currently prefers to use private blockchains (hyperledger, corda, masterchain, etc).

But they do not carry any new properties: they are just standard distributed databases, their integration with external networks only occurs through trusted gateways.

Our system solves these problems. In a single network on our IDL, there are completely integrated blockchains of various types and classes: public, private, with various consensus algorithms. For operations with crypto you can use public blockchains, for corporate solutions – private ones.

Most importantly, private corporate blockchains are now fully integrated with each other and with public blockchains. No need to build any gateways, just give your new partner/customer/supplier a key for decryption. Now private blockchains can be used to build trust between companies, removing unnecessary intermediaries.

We see the future of IDL as a universally recognized decentralized protocol linking the business processes of companies around the world into a single trusted structure that is organically integrated into existing legal systems.

Additionally, an important note: We do not need special legal adoption, we can work within the framework of existing legal regulation around the world.

Q. Is protocol able to handle all cases worldwide?

yep, even in China, we suggest using a network of private integrated blockchains without the use of cryptocurrencies in principle.

Q. What is the Major problems are in Real life which $UBIKIRI PROJECT is trying to solve or Solving ?
Also, Explain How & whats the importance of Blockchain in UBIKIRI PROJECT ?

Note: our project name is IDL (IDLedgers.com), not Ubikiri.

Q. Are you going to support absolutely all blockchains with dapps or have a vision of which way the industry is going and support only certain ones???

Yes, we do not see any special restrictions on the types of blockchains. Now, for example, several private blockchains live on the common network + one public PoS, and + another very specific one – with ERC-20 token stacking – this is a notarial blockchain for SilentNotary.

Q. What role do you think Ubikiri Network will play in making blockchain highly adaptable in the worldwide stage?

We decided to explore how blockchain can expand on the opportunities that are given to us by some well-known social networks, and thus we created http://ubikiri.com.

The goal of the Ubikiri network is to be a global platform for legally binding agreements. This includes contracts, license agreements, payments and legally important information.
In terms of a users legal identification and their obligations, our platform is more than capable of filling this gap for serious business. Also, we designed this platform so that users could easily interact with each other on one user-friendly interface.

For sure, there are many platforms for friendly chatter. Facebook is one of the best known social media platforms with a user base of over two billion people. We can say the same about Linkedin. However, they still lack the ability to operate effectively with legal material. There are many reasons for this, such as long distances, different law jurisdictions, and more importantly, uncertainty about the person you are interacting with.

All of this makes Facebook and Linkedin infeasible platforms for use in serious business as they are not suitable for business level communication. In reality our user interface is the only thing we have common in with Facebook/Linkedin. With Ubikiri, in just a few clicks, you can do a full background check on your contractor and proceed with a transaction/deal. Not something offered by your standard social network.

Our platform is DLT-based. It is decentralized, and every transaction is timestamped and immutable.

The end goal is to have a versatile online tool to facilitate all sorts of legal interactions between private individuals, businesses, and governments.

It doesn’t matter who you are. A simple user, a small local enterprise, a huge corporation, the prime minister of China, or a member of our developer team. The rules are equal for everyone. Because of the decentralized nature of our ecosystem, your reputation is the only thing that matters. Your reputation will consist of a legally defined profile and a history of your legal interactions. In Ubikiri, this information can be shared by sending a cryptographic key to your desired counterparty. The signature associated with this key is your digital signature that you can use to signify your active legal consent.
You can’t hide in disguise as a scammer or use a botnet on our platform, as in both cases the offending party will be unable to get through the identification procedure.

In the digital world, the internet incorporates environments for both fun and business. Where fun environments are more casual in nature, business environments have a strong requirement to identify the real people involved in each transaction, something which can be difficult online.

Ubikiri is the solution to this problem.

Q. Can you tell me a few real life examples of how the UBIKIRI Protocol project can help people?

Ubikiri is an advanced interface, and IDL is a protocol. Now, for many of those present here, such a user case will be useful – joining the investigations against scammers in the framework of the Cryptotribunal project. You can do it right now at ubikiri.com

Q. What are the major milestones you have achieved so far?

Our goal is to make blockchain technology useful for real business. In the last two years we have been in talks with governments (Russia & 19 African countries), even gave a speech in the Parliament of Russia, multinationals (an airline, gold mine, post office, etc.) and banks (the biggest bank of Eastern Europe). This is all in the pipeline, but because of the size, this takes time (and our product isn’t fully finished yet, so clients and partners are waiting on that). Our strategy is to attract partners who will add a lot of ppl in our community. Currently one of the projects in our ecosystem, Crypto Tribunal, partnered up with a law association of 6000+ lawyers. We recently completed development, finished basic tests, it’s almost ready now, so now it is time for implementation.

Q. What technology stands behind UBIKIRI and why it’s better than the existing one?

Our main feature: users can create blockchains with various types of consensus – including private or open ones, while still having all the registries fully integrated among themselves (common address space, mempool, transactions, smart contracts, etc).

For the first time, the consensus logic of a distributed ledger is divided into two layers – an application layer that allows users to create their own distributed ledgers to solve specific problems, and a network layer that provides network integrity.

Btw, this is a fully in-house development, no forks or deviations etc.

Q. Who are the developers behind Ubikiri? Are they enough qualified to handle and serve millions of customers and developers? Are they having enough experience?

For sure they are! Please go to http://idledgers.com and look through the Team section.

Q. Please explain these as I came across them

  1. Traders Battle
  2. auto witnessing process

About Traders Battle. This is the initial stage of what we have in mind, actually. For now, this competition is held in a game form, in which players – professional participants, can make fictitious transactions on the selected trading pair, after which the result is summed up and the winner is determined. Millions of LAW are being circulated now within this Battle.

The next stage – a product that solves one of the key problems for a trader – the problem of proving its success story. Attracting funds under management is associated with the problem of trust, a potential client is forced to rely on print screens and statements on the history of exchange operations, which is not a reliable source since that can easily be faked on a modern technical level.

We offer a solution to this problem – recording trader’s operations in our blockchain. Due to this, it is impossible to change the history of operations. By passing the key to the client, the client can turn to our blockchain and get the history of the operations of the professional participant which is objective in nature.

This solution is not fundamentally in comparison with the Traders Game, only the ability to connect to the trader’s account via the exchange API without the possibility of conducting operations is added.

Monetization is possible by charging transaction storage fees.

And, finally, the next step compared to the transaction storage service, since it implies a service for the sale of this information. We create a service that allows the user to acquire information about the trader’s transactions or trading signals online.

At the same time, the user can quite easily choose a trader by efficiency, looking at the public part of the history of its operations.

From the point of view of technology, the development and tuning of a bot that conducts operations with client’s assets appears here.

Monetization options can vary from selling a subscription to receiving a commission “for success”.

Q. What’s the utility and real life use case and application of UBIKIRI, law and SNTR ?

We already talked about Ubikiri and IDL above, now a few words about SilentNotary. This is a service for recording events and turning them into legal evidence that can be used in court to protect your interests. We use the basic property of blockchains – the immutability of records, to this we add legal solutions and a convenient interface. The system is already working (like IDL and Ubikiri) and uses IDL and Ethereum blockchains for recording evidences. You can test the web version: personal.silentnotary.com or install mobile applications for Android and iOS.

Q. Project development requires more developers and investments. So how does UBIKIRI plan to attract investors and developers?

We are currently at Presale stage – https://idledgers.com/#sale, so, for sure, we are in the process of attracting investors right now.

Q. What have you learned from early versions of the product or service? What are some of the major roadblocks along the way?

The most important thing that we realized in the process of developing our first product (silentnotary) was the practical impossibility of using anonymous public blockchains such as Ethereum or Bitcoin for wide use in real business. The problem is that when building any legal relationship, it will be necessary to conduct a technical and legal expertise and prove that at that time this blockchain was stable. Everyone probably remembers 51% attacks in fairly well-known projects, for example in Ethereum Classic?

Q. What are the major milestones you have achieved so far?

We worked 2+ years with a team of 22 on the IDL platform and SilentNotary, resulting in 65 000+ lines of compact and advanced code (written by our self educated developers) forming IDL and it’s eco system which consists of Ubikiri, SilentNotary, CrowdFeeding, CryptoTribunal and Bankstroycontrol.

Q. Can you explain, Whats the meaning of directional acyclic graph and whats the role & importance of directional acyclic graph in Ubikiri project?

Compared to traditional Blockchain, the implementation of smart contracts on a DAG is undoubtedly way more challenging. IOTA tried this, but failed in doing so.

However… IDL managed to integrate smart contracts into its DAG! We deployed our first notary smart contract some days ago on our testnet!

The smart contract is processed inside of the Consilium in which it was uploaded. A smart
contract processed in one consulium may invoke methods (and thus activate) smart contracts from other Consiliums. This allows you to make your smart contract a procedural part of a legal agreement in stand-alone code.

Also, every network node can form subsets. Those subsets implement certain rules and that as a whole we call a Consilium — the name of a procedure in ancient Rome.

Conciliums required a meeting of people familiar with the laws to help make a decision.

Every node of the network can join any Consilium, if it is allowed by the Rules of the respective Consilium. A node that joins a Consilium is called the Validator.
The platform supports an unlimited number of Consiliums and Validators.

Q. What role do you think Ubikiri Network will play in making blockchain highly adaptable in the worldwide stage?

We make a universal infrastructure solution for using blockchain in real business. Our task is not only to write code, but also to develop schemes for using our technology in the design of business processes. That is why we pay attention to the legal meanings of such things as transaction markers, which, in addition to the technical function of choosing the appropriate blockchain, also have a legal meaning – this is an acceptance of the offer (Rules) that determine what kind of legal relationship a user has when sending a transaction to the network.

Q. UBIKIRI means peace in my native tongue, what’s the story behind the name UBIKIRI

What’s the UTILITY and REAL LIFE USE CASE AND APPLICATION OF law token ?

That is great. We like that second meaning. Ubikiri is derived from Yubikiri, which means pinky swear in Japanese.

Q. What gives the value to $SNTR Token? What is the role of it in your ecosystem? Any advantages of holding $SNTR in the long-term? @MaxBreus @realizerom

The SNTR token will be an integral part of IDL (https://idledgers.com) in the next 2-3 weeks. It will be deeply integrated into our system, but also through masternodes. A SNTR masternode gives one LAW (the #1 currency of IDL) and in the same time it burns SNTR. So SNTR almost equals LAW and therefore if IDL does well SNTR does well.

Q. Who is your biggest rival?

Actually we have several competitors, but all of them are developing a corporate solution — f.e. Hyperledger. Our main feature — we are creating a single p2p network with a common ecosystem.

Q. You are an official partner of http://Foundico.com. How will this partnership impact Ubikiri and the community? and which other partnership are you looking forward to in the nearest future?

We use their identification service for our purposes. KYC is not our business, we attract partners here. The API functionality is important for us to integrate with Ubikiri. Identification is a basic function for building relationships. Now, for example, we can attach a PGP key (certified by licensed KYC povider) to the user profile, which opens up great opportunities for using the entire PGP ecosystem. In general, we are very interested in such infrastructure partners – in the identification, mediation, dispute resolution and more.

Q. Could you please share with us technology side of your project. How is the architecture? Which consensus is used? @MaxBreus @realizerom

This is a synthesis of DAG and blockchain. Network consensus is divided into 2 levels. The first – network layer – is common to all nodes. It maintains the integrity of the network, determines the order in which records are created, transaction processing, and block verification. The second level is the application level, individual for each of the blockchains. The user has the right to determine how transactions will be processed on his blockchain: the blockchain initiation procedure (for example, when the desired number of transactions accumulate in the mempool, either by timer or by accumulating the required amount of fees), decision-making procedure (the consensus itself – PoW, PoS and so on.), the order of evolution – making changes to the algorithm. The legal part is also determined there – binding to public offers, etc. All this is recorded in a certain way by a special transaction, which forms the genesis block of the new blockchain.

Q. What are the requirements to become a MASTERNODE? Also what are the advantages of it? @MaxBreus @realizerom @JohanIDL

Only a purchase of 20 mln LAW minimum. Masternodes Online shows that our ROI is 232.16%
20 000 000 LAW (~15 ETH) will currently give you a yearly income of $5,175 (due to end of last week info).

Q. Hi! IDledgers looks truly awesome! The presale price is pretty cheap tho. What marketcap do you think LAW and/or SNTR can reach in the future? Can this challenge larger projects like IOTA for exemple?

Thanks! As what about IOTA, let me repeat.. Compared to traditional Blockchain, the implementation of smart contracts on a DAG is undoubtedly way more challenging. IOTA tried this, but failed in doing so.

However… IDL managed to integrate smart contracts into its DAG! We deployed our first notary smart contract some days ago on our testnet!

Q. What is the reason that Ubikiri Network project is DLT based? What advantages does this infrastructure provide?

What advantages do you believe will be your decentralization in the future? There are those who think that decentralized practices will make a big leap in the future. How do you see the future in this regard?

In fact, there is no other option besides using DAG in this case. Blocks are formed by various blockchains at different moments, have different size. Therefore, trying to embed them in a regular chain is impossible. DAG allows you to easily do this; when the load increases – it “expands” (as the rope unwinds), when the load drops – it narrows and even turns into a chain, like a normal blockchain. For us, the main thing is to ensure that in any case the graph grows in one direction, that there is no branching, this is what we decide on the network level algorithms for consensus of a distributed ledger (we call this a set of rules for choosing parents)

Q. The bigger hurdle is non-blockchain community. So how are you marketing and reaching out to them?

Yeah, we understand that. Our main target – real businesses. And we have a really good proposal for them.

Because ublic blockchains are almost useless for real business: there is no legal regulation of relations between node holders and the development team, you need to use cryptocurrencies with an incomprehensible status. Therefore, big business currently prefers to use private blockchains (hyperledger, corda, masterchain, etc).

But they do not carry any new properties: they are just standard distributed databases, their integration with external networks only occurs through trusted gateways.

Our system solves these problems. In a single network on our IDL, there are completely integrated blockchains of various types and classes: public, private, with various consensus algorithms. For operations with crypto you can use public blockchains, for corporate solutions – private ones.

Most importantly, private corporate blockchains are now fully integrated with each other and with public blockchains. No need to build any gateways, just give your new partner/customer/supplier a key for decryption. Now private blockchains can be used to build trust between companies, removing unnecessary intermediaries.

We see the future of IDL as a universally recognized decentralized protocol linking the business processes of companies around the world into a single trusted structure that is organically integrated into existing legal systems.

Additionally, an important note: We do not need special legal adoption, we can work within the framework of existing legal regulation around the world.

Telegram Ids of AMA winners are mentioned below and they are requested to contact @JohanIDL on telegram to give their wallet address .

@endtimeprophet

@kambeing

@NO4M3

@VishalBlockchain

@Minollta

Join us on http://t.me/theblockcircle and

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230 cr
230 Cr has been interested in the cryptocurrency since 2017 when his friend introduced him to bitcoin .Interested by the bitcoin technology and suffering from centralised banking system he then decided to pursue his career in this space .

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