AMA Recap: CRYPTO MINERS X AUTHTRAIL
AuthTrail is a Next-gen data integrity solution. It is a market-ready, fast and simple data integrity platform powered by blockchain. It equips enterprises with data integrity easily and cost-effectively so they can improve performance and boost market reputation. Authtrail is a bridge between the value of enterprise data and the power of blockchain technology. Powered by Moonbeam. Designed for growth. Authtrail stores data in bundles and anchors its fingerprints to the blockchain network. Based on Moonbeam, it provides faster and cheaper transactions compared to other networks. Authtrail has developed a blockchain-based data integrity SaaS platform and adjacent applications. The Authtrail platform overcomes the limitations of transaction performance and costs by simplifying how a virtually unlimited amount of data is linked to a single transaction on the distributed ledger network (blockchain).
We hosted an AMA session with AuthTrail on 23rd February.
Mr. Ramsy was the host from Crypto Miners and Mr. Matjaz, CEO of AuthTrail was the guest. He shared delightful knowledge and unique features of AuthTrail.
Segment 1️⃣: Introduction
Hello everyone 👋 and welcome to the Crypto Miners AMA session With Authtrail
To help us learn more about the featured project of this AMA session, we are lucky to be joined By Mr Matjaz
Hey everyone! Thanks for having me :)
Hello there 👋
Thanks for bringing Us Authtrail ❤️
I'm pretty sure that our Community is very much excited to learn more about Authtrail ✌️
So let’s get started if you’re ready!!
HIt me :)
First of all Please give us a brief explanation about 'Authtrail' .What popped up in your mind to create such a platform in this Space?
Basically, Authtrail is a platform that connects the value of enterprise data to the power of blockchain technology. It works as a simple add-on to all the imaginable legacy systems that organizations use. The onboarding into blockchain is very seamless and easy - it doesn't require the customer to have good blockchain knowledge and they don't need additional staffing.
It's really just an additional security layer, a so-called trust layer, on top of the data without displacing any incumbent products inside their organizations.
Keeping data’s integrity intact is crucial for making much more informed business decisions which lead to bigger growth and transparent and trustworthy partnerships.
The project started as a spin-off of Kalmia, a software company that actually came across the need on the market that Authtrail is focusing on right now. The initial idea was sparked as a response to an RFP where they were looking for a solution that would implement Blockchain into the supply chain and we developed it from there. We all fell in love with the idea and here we are now, offering to bridge the gap to Web3 for the enterprises and bringing the growth to their doorsteps.
I was very happy when the team asked me to take over the role of the CEO at Authtrail to create the next big thing in crypto but to also show the old economy how blockchain could be used to their advantage. We are one of a few projects who actually have a product that can be used by enterprises of any scale without them having to understand the complexity behind DLT. They can simply hook on their legacy systems and are already a part of the new Internet :)
Thanks Matjaz For this awsome start about Authtrail👌
Now let's see our second question from this segment...
Q2) So what are your main features and advantages that discern you from other Projects?
I think having competition is healthy, it shows that we are on the right path - we are not building something the market doesn’t really need. We've seen a lot of projects since 2017 from the ICO craze – where projects were utilizing blockchain to get more exposure but blockchain was not needed at all. The majority of the competition does similar things, but they are very vertical-specific whereas we fit into broader aspects. The difference is also that we are building on a public blockchain – from what we've seen so far, our competitors are using either proprietary or in-house-built blockchains and not leveraging the public blockchain at all. We want to make it as decentralized as possible and as fast as possible.
We are B2B oriented so we know that crypto and blockchain are still under very careful consideration when it comes to enterprises - they don’t want to get too much exposure to crypto or blockchain but they are slowly tapping into it. We want to showcase that blockchain is a great technology and that it can influence their business dealings for the better.
Thats why we’ve done a “split-brain” approach – on one side we have the end customers (enterprise customers) who are using the platform and will most likely never get in touch with AUT token itself because they are using our so-called anchor credits. Those anchor credits are used on the platform to anchor the data to the blockchain. We have a built-in mechanism into the platform where those anchor credits can only be purchased with AUT tokens. And those tokens will then be used or will be bought from the market to fuel the anchor credits on the platform. That way the enterprises will not have to deal with the whole universe of DLT-related tasks and knowledge, but they will be able to leverage all the advantages blockchain has to offer.
All of this combines, makes it an easy entrypoint for businesses who want to make the next step, but dont know how and where to start
Q3) How has the experience and background of your team been effective in the success of your project so far?
Well I am fortunate to have such a great team with a variety of skills!
Domen, our CMO, has been running successful campaigns for several larger organizations worldwide like Uber, Hisense, etc. Has a very strong business network and is behind all the activities you have seen recently. His team is building new materials on a daily basis to bring the message out to as many companies as possible.
Tadej our CTO, has worked on several projects in the Crypto field, one of the more known ones would be 0xcert. He has written the whole code by himself and has now a team of 3 developers who are punching new lines of code on a daily basis.
And me, being in crypto for the past 7 years and working in the IT sector for the past 20, I was always on the lookout to create something that would bring value to the “old economy”. My experience from IT has already proved to come in handy, especially with onboarding larger GSI (global system integrator), local SI, VARs (value-added resellers), distributors, and with all the partners yet to come, who help us in building the sales channel.
Our advisors are also deeply involved in our daily operations. They have both technical and business know-how and are helping us with introductions to customers, partners, ecosystems, etc.
The Authtrail team is expanding as we speak, we just got some new additions to the team and we are happy to welcome more newcomers soon :)
4) Now Share us about your Native tokens, What are the some of utlities of $AUT in Your Ecosystem? And if possible share to us the Tokenomics
A side note: since we are tapping into the enterprise world, we have to be careful how the narrative is presented. Every company so far with whom you start a conversation and mention blockchain/crypto, you get a red flag immediately. So we have created a way for them to not be exposed to crypto directly.
Therefore, our customers will be buying “credits” on the platform, which will allow them to use our platform and anchor the data to the blockchain.
However, in the backend, we will market buying the AUT tokens to “fuel” those credits the customers are using. As an example, if a customer wants to have a minimum level of data integrity, he would need to anchor the data to the blockchain at least once every 24 hours, this means 30 tokens per month.
this is only for 1 application, imagine larger customers with 100s of applications, and having just 1 anchor per day is not feasible for the majority; we are talking about 4–8 anchors per day.
You can do the quick math, that once Authtrail gets the recognition it deserves, those credits will spike and they will be used not just for anchoring, we have several applications in the pipeline on how to leverage the token, but for now, it is used “just” for the anchoring function.
You can also check the blog post for more details
Let's move to our last question from this segment
Q5) So how long did it take to develop this project? What plans do you have for the future? And what can we expect from Authtrail? If possible could you please share road map with us.
The inception of Authtrail goes back a few years - as mentioned before, Authtrail is actually a spin-off startup - and it all started in 2019. There was quite some technical development involved at the beginning but lucky for us we were able to showcase the value of Authtrail to the first three partners very soon (IBO, Iskratel, and AVL) and we realized we have gold in our hands :)
Regarding our business goals for the future - our software works with integration of API so we connect to different enterprise-class applications like Oracle, SAP, Office 365, Salesforce.com, Shopify - basically every application that generates data can be hooked onto the Authtrail platform. The plan is to have a solid development to create self-installable self-manageable agents that can be downloaded and customers worldwide can just download the package and be hooked onto our platform.
Additionally, we plan to create a so-called Authtrail LaunchHub - if you talk about data integrity as a service it doesn't sound as sexy but we do see there's a big potential of creating user-facing applications on top of it. We will be launching the Authtrail LaunchHub where third-party developers will use our APIs and connections to leverage the technology and intelligence of our platform to build their own applications on top of it.
But the ultimate goal of Authtrail is to establish itself as a household name for enterprise data integrity on a global scale. We want to become the ultimate bridge between global enterprises and Web 3.0 :)
Thanks Matjaz for this well detailed introduction about Authtrail:)
And that's the wrap up of our the first part of the AMA session ✅
Was my pleasure! :)
Let’s now proceed to our Twitter Questions section
i hope you're ready for that!!
Born ready :)
Segment 2️⃣: Twitter Questions
1) Each project has interesting stories before it is created. So can you tell people about the story that gave you the motivation to build and develop a great project like yours?
When I first heard of Ethereum, I was constantly on a lookout for ideas on how to leverage blockchain and create something, that would not just use the blobkchain as a buzzword but an actual usecase.
I started my IT career back in 2005 and was pitching the idea of Virtualization to my boss on how we should start selling virutalization to our customers, he said that this is not our bread and butter and we should keep on selling servers and PCs
Later I moved to another company, in 2009 and saw big potential in Cloud. Again, started pitching the idea to my boss, who said we are selling servers and virtualization and cant bother learning about Cloud...
in my last company I started pitching blockchain and basically got the same answer that cloud is the future yada yada yada… :) You can see the pattern, I finally wanted to do something on my own and here we are today :)
2) Authtrail equips enterprises with data integrity easily and cost-effectively so they can improve performance and boost market reputation. Can you tell us what is this DATA INTEGRITY? and how does Authtrail provide it to enterprises? Does Authtrail's services are free to use?
We cant offer it for free, we have to make a living somehow 😅
Data integrity basically means, that Data hasnt changed from the day of it inception until its disposable - over its entire life-cycle
Officially - Data integrity is the maintenance of, and the assurance of, data accuracy and consistency over its entire life-cycle and is a critical aspect to the design, implementation, and usage of any system that stores, processes, or retrieves data.
Authtrail provides DI by hashing the contents of the datasets and anchoring it to the blockchain. Given the nature of blockchains and its immutability, we can assure that if the hash on the blockchain matches with the one on the source, the data has not been compromised or changed in any way
3) Authtrail is one of the first real life adoption cases in a corporate environment. Are there opportunities for Authtrail to explore also in a consumer environment or for individual use? Do you have a KYC procedure developed to select companies that can adopt Authtrail?
Not really, every business, big or small will be able to use our platform and we dont have a specific requirements.
With the launch of our Launchhub however, we will see what the development brings. The launchhub will support new,fresh 3rd party developers to leverage our platform for further development of user facing applications.
4) I am intrigued from the fact that Authrail was deployed under the Moonbeam network. Could you tell us why did you picked Moonbeam over other blockchains most notably Polkadot, Moonrivera and Kusama?
I happy to shed some light into this :)
We went from Ethereum to Moonbeam because we are dealing with sensitive mission critical data
Moonbeam, which is a parachain on Polkadot, gives us the EVM compatibility we need and polkadot gives us the scalability and security.
We intentionally didt go with Moonriver on Kusama as you probably know, Kusama is the “chaos” network and we can not build a enterprise platform on such :)
5) Collaborations and partnerships are some of the most important cornerstones to help improve adoption. Could you please tell us about the current partners, plans for partnerships and what everybody stands to gain from these partnerships?
Here is our last question from twitter
Well the first strategic partnerships are with our initial backers. They help us a lot in bringing the message out through AMAs like this one, Twitter postings and marketing activities
Then there would be the Polkadot ecosystem, we have started with Moonbeam as our main base for the technology, but we are in talks with several other parachains that will help us with the decentralization of Authrail. I can not name them just yet, NDA, but we will hopefully soon let everyone know :)
And last but not least, the strategic partnerships with different enterprise applications such as Microsoft, SAP, Oracle etc, for whom we build the connectors. Disclaimer, those are not official partnerships, just our integrations so far, but we are working towards the official approvals and mutual activities in the field.
Thanks for Your Valuable Answers❣
And that's the end of our twitter question segment
Now Moving on to our last segment - Live Q&A
Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and Miners sent hundreds of questions. Guest choose some best to answer)
1)ᴀᴅᴀʀѕʜ [ ɴᴇᴠᴇʀ ᴅᴍ ғɪʀѕᴛ ]:
I want to know about you Pre_sale,, IDO etc... When and where It will start?? How i can know your Daily updates??
We are currently preparing our community round which will go live in the upcoming weeks, all you have to do for now is sign up on our whiteliste and you will get informed once the round launches. This is an exclusive round before we do the public listing
Do you consider community feedback/requests during product creation to expand on new ideas for your project? Many projects fail because they do not understand the target audience and customers. So I want to know who is the ideal consumer for your product?
I have seen first hand how this kind of feedback propels procjets to new heights, thats why we encouraging our community to read into our whitepaper and feed us with new ideas how to expand the offering into new territories!
3) Ya Habibi Come To Jamalpur:
What is your strongest advantage that you think will make your team leading the market?
The easy onboarding for enterprise customers. With the plugnplay approach, we make it easy for businesses to make the first step into Web3 without the need for complex blockchain know-how
4) 𝗝𝗲𝗻𝗻𝗶𝗳𝗮 L𝗼𝘁𝗮:
Is your project a local project or a global project? Can anyone use your service from anywhere in the world??
Currently, we are focusing on our local, slovenian market only, as we have the strongest connections here. Once we have established ourselves a key player, we will expand globally.
5) 𝙆𝘼𝙂𝙞𝙎𝙊 𝙍𝘼𝘽𝘼𝘿𝘼:
How can I buy Tokens? Is it available on any EXCHANGE?
Our TGE is planned for late Q2, beginning of Q3 and we are in talks with several Tier1 (Top 10) exchanges to do the launch there :)
*This segment ends here*
Thankyou so much Matjaz For your valuable answers and information about Authtrail,
It Was Pleasure Hosting An Ama With You
Is there anything else you would like to share or you want us to know ?
Pleasure was all mine!
I would like to share our current giveaway! We have finished Phase 1 yesterday, giving away 1.500$ and we will launch Phase 2 tomorrow :)
Join our channels and get whitelisted for the community round :)
Thank you for having me!
Time To Conclude Our AMA Session