Summary of SERO x D’va Community
Host: We are glad to meet here 🙏 Mr. Tony Tang (@SERO_Tony), SERO Chief Strategy Officer and Director of SERO Foundation and Aakash (@SERO_Aakash) Operations Director
Mr Tony Tang: Hello, everyone! I’d like to introduce myself a bit.
I come from a background of bachelor in E.E. and master in C.S., but I started my career as a quant analyst on Wall Street, eventually moving onto macro-derivatives trading, Asset Backed Securitization, and Asset Management, at various large banks as Managing Directors. After leaving my institution career I co-founded a private equity investment firm focused on medical tech and FinTech, and am still serving as an executive partner. I have known SERO’s three founders for a long time and gave them my consultation to the project as a close friend at its earlier stage. I recently officially joined SERO Foundation to serve as its chief strategy officer, mainly in charge of business development and capital markets, so that I can lend my expertise in institutional finance and business to the wonderful project. I’m very glad to be here today.
Host: Thank you for your introduction @SERO_Tony ☺️ Let’s move to Segment 1
Q1: Please explain in more detail about SERO, what is the background of this project? and when was it established?
Mr Tony Tang: In short, SERO can be thought of having three main features: privacy protection, smart contracts, and non-homogeneous data structure. Privacy protection, SERO adopts the Zero Knowledge Proof algo, which is the only complete algo that can claim total protection, but SERO did lots of optimization to enhance its performance. Smart contracts, SERO did major re-engineering based on Ethereum’s design. Non-homogeneous data, it means SERO can be TRULY used in real world, not just simple tokens.
Host: Very great, I’m sure sero potentially in this year!
Q2: What targets will you achieve in 2020?
Mr Tony Tang: Year 2020 is SERO’s solution delivery year! In order to do that, we must understand what SERO intends to achieve which is to let the DApp developers determine SERO’s value so, at the beginning of the year we’ve completed the halving, setting up a proper environment for DApp ecosystem to benefit from the right amount of SERO tokens as we speak, SERO has already completed three major extentions
FinTrac — a facility to funnel real world assets to digital world
Coral DEX — a decentralized exchange with 100% decentralized collateral management to support “back stop” bids
DeMall — a set of facilities to support blockchain based e-commerce
with the successful help from an independent DeFi project POFID, we are now looking to expand SERO’s DApp ecosystem, all integrated logically.
Host: Cool 😎 Very details, thank you @SERO_Tony Some introductory questions have already been answered and we will enter segment 2, 5 best question comes from the twitter. I hope you ready to answer all question 😁
Q1: What is SERO competitive advantage over Ethereum? Ethereum have amazing Dapps now. What do you also think the advantage of SERO over Ethereum in dealing with Dapps?
Mr Tony Tang: SERO supports smart contracts, which allow the issuance of tokens, which is what Ethereum invented. In addition to the ERC20 tokens that most are familiar with (which is a generic and fungible asset), SERO smart contract also handles unique assets that can’t be aggregated with others (the actual issuance facility used by SERO is ERC-721).
SERO implements non-homogeneity by providing three different type of data structures, namely, Token (the homogeneous kind), Ticket, and Package. In short, these data types allow for infinitely complex data to be handled by SERO smart contracts which Ethereum cannot. The Turing completeness of SERO’s smart contract is truly as powerful as a high-level programming language because SERO was designed to solve real business world, instead of just within token playground.
Host:
Q2: As the Powerful privacy platform for DAPPS, can I build dApps on SERO with my knowledge of solidity and Java C. How will you convince developers to switch to SERO for building DApps, what’s your competitive advantage against other protocols?
Mr Tony Tang: yes, you will do VERY fine if you have that kind of skill set
No project can claim to be able to solve all problems, so it is not a question of convincing you. SERO was designed with a heavy tilt toward a few well-defined sets of real-world commercial applications that can scale up by modeling their operations on decentralized platforms. For example, high speed transaction isn’t one of our design goals, but data centricity is. Privacy protection (including business secrets and regulatorily required elements), complex data structure, high programmability are tools offered by SERO. Specifically, the infrastructure was designed to carry three clusters of DApps: Supply Chain Management & Finance, Private Data Management & Anonymous Payment, Digital Asset Management & ABS. So, as a developer, if you think your biz domain falls into these categories, you will LOVE SERO.
Host:
Q3: DeFi is one of the hottest topics in the blockchain space right now. Can you share your opinion about DeFi with us? Do you think that DeFi will disrupt the existing financial system? What is SERO approach towards the DeFi sector?
Mr Tony Tang: One thing is for sure that DeFi will not and cannot replace the traditional centralized financial infrastructure, but DeFi can greatly augment traditional finance, both in scope and depth. Therefore, I don’t believe DeFi will disrupt the existing system, but it will profoundly impact it. The key idea is as follows: the existing system is a layered architecture consisted of many centralized “trust” intermediaries, operating under the regulatory supervisions. In our opinion, decentralization boils down to “de-trusting” and not much more. Too many block chain advocates tend to elevate this issue to a philosophical level, which we think is both misleading and unnecessary for the sake of block chain development. For example, MakerDAO and Compound are known for lending but we all know the key to lending is interest rate with such hype built into these DeFi projects, their usefulness is truly doubtful. POFID, on the other hand, the DeFi infrastructure on SERO, is lot more than just lending by issuing stablecoins it is rather a full-blown collateral management vehicle capable of lending, of course, but also can perform clearing and other important asset management functions so, we are happy to see that SERO can contribute to the DeFi community in very different ways. Check out our Coral DEX as well, you’ll be impressed!
Host:
Q4: Why SERO is using UTXO & Account Mode, as well as Qtum. How important is this mechanism to SERO?
Mr Tony Tang: This implementation is critically important to SERO’s main features. The Super ZK algorithm is primarily applied to the “path” of transactions, so UTXO is a must. As we all know, the net result of transactions yield account balances in other words, actions lead to changes of “state”. For SERO’s smart contract VM to quickly handle states, as any Turing Complete VM must do SERO chose to maintain states while using UTXO to process transactions. For those other networks that don’t strive for high performance this is a non-issue, but for SERO, it is.
Host:
Q5: Does SERO’s Blockchain Solution only Applicable to Business Enterprises? How about for Personal Consumer UseCase?
Mr Tony Tang:
SERO certainly has a powerful set of tools to support enterprises biz models but it definitely doesn’t stop at B2B. SERO team has already completed a set of front-mid-back end toolkit for e-commerce developers to implement their own biz models. In the entire process not one person or entity needs to be the trust bearer, because the smart contract code is transparent and it is maintained by the SERO network. I should add that while the code is transparent the actual transactions aren’t — SERO’s key privacy protection feature. Such collateral management mechanism also applies to dispute settlement, another tough operational issue in e-commerce to tackle. As of now, one retailer has already committed to using this set of tools to launch its e-commerce operation, a very innovative way of rewarding consumers with investment incentives. This operator highly values SERO’s capability of boosting its operational scale starting from ground zero. I will call this B-commerce, and we’ve developed our SERO DeMall toolkit to support it. It is obviously a very 2C type of DApp. check it out in two weeks, and I’m sure it’s a new experience!
Host: Questions on segment 2 have been answered, thank you @SERO_Tony
I hope you are still here and continue segment 3
Telegram Questions
Q1: What role do you think SERO plays in increasing the adaptability of the blockchain on the global stage? How SERO solves Interoperability problem? with Which blockchains, SERO is interoperable?
Mr Tony Tang: Cross chain integration is inevitable — SERO strives to be the best in it. Our approach is a bit too technical to explain here, but we believe it will set a good model, even paving the way for web3.0. Yes, we are working on it. We willl complete our cross chain major initiative by the end of this year, BTC, ETH, will definitely be integrated, and we believe SERO based DeFi will shine.
Q2: Do you have any plans to attract non-crypto investors to #SERO, and how? What are the actions to increase awareness around #SERO in non-crypto space?
Mr Tony Tang: To be honest, all real useful things eventually attract everyone, so we are not particularly worried. Our approach is usefulness! If business and enterprises can attract their users by offering competative products, they will bring their users to blockchain. That’s our approach — make money for the people who do business, then they will bring the users!
Q3: Can Super Zero (SERO) Protocol protocol be implemented on other platforms/ merchants like a dependent tool for business solution or its inseparable part of SERO ecosystem?
Mr Tony Tang: This has everything to do cross chain integration, and it must be tackled by the entire block chain community. For SERO, as mentioned earlier, we will model out something by the end of this year to showcase how assets from other networks can utilize SEROs capabilities
Q4: Can you tell us the motivation and benefits for investors to hold $sero token in a long-term investment and What plans do you have to help drive demand and scarcity for the token?
Mr Tony Tang: SERO’s core value lies in its utility value to DApp ecosystems. We encourage DApp builders to model the usage of SERO tokens, directly or indirectly, so that in the end the value of SERO will be determined by how useful it is to enterprises and their users. When that happens, no investor should worry about trading capital in and out of SERO.
Q5: Due to Sero is leading privacy focused cryptocurrency, illegal activities can be done so many of the country’s government don’t like private part! what are your solution towards this? Have you any idea towards this?
Mr Tony Tang: Very serious question indeed! SERO provides tools, but it doesn’t define policies. Many people don’t know that SERO has a capability to enable a DApp builder to collect its ecosystem users’ consensus, and give a trusted 3rd party authority for transaction audit. As you can see, this is a tool, but not a policy! Serious DApp builders working under proper supervision CAN make privacy protection compatible with regulation — just like in a perfect real world!
Host: Thank you everyone for your questions, it was fast 😊 Great AMA Thanks to Mr. Tony Tang for taking the time to join AMA today.!!
Mr Tony Tang: Thank you for organizing such a great session I hope that everyone enjoyed it as much as I shared.
We will keep delivering, so stay tuned.
Thank you, all!
Official links
Official website : https://sero.cash
Tencent : https://v.qq.com/x/page/s0792e921ok.html
YouTube : https://youtu.be/UNG2boG49Io
Twitter : https://twitter.com/SEROdotCASH
Medium : https://medium.com/@SERO.CASH
Github : https://github.com/sero-cash
Reddit : https://www.reddit.com/user/SEROofficial
BitcoinTalk ANN : https://bitcointalk.org/index.php?topic=5123382.0
Linkedin :https://www.linkedin.com/company/sero-global-inc/
Facebook : https://www.facebook.com/SEROProtocol
Gitter Community : https://gitter.im/sero-cash/Lobby?utm_source=share-link&utm_medium=link&utm_campaign=share-link
SERO VS Zcash encryption speed comparison :https://www.youtube.com/watch?v=bc6yHTLSl5M
Telegram Community
Chinese group : https://t.me/SeroOfficialChs
English group : https://t.me/SeroOfficial
SERO Announcement : https://t.me/SEROannouncements
SERO Official Technical Support : https://t.me/SeroFans
