AMA | Parami x Mars Ecosystem, July 31st
When & Who
Date: 31st July 2021 at 10 am CET
Hosting: Dr Marvin of Mars Ecosystem
Speaker: Ethan, the community growth Director of Parami
Greetings
Dr. Marvin | Mars Ecosystem: Hello, Ethan. Welcome to Mars Ecosystem!
Ethan | Parami: Hello, Marvin, thanks for having me here, I am honored to meet you.
Dr. Marvin | Mars Ecosystem: Today he is gonna answers our questions about Parami Protocol.
Ethan | Parami: Yes, come at me!
Part 1 — Introduction Questions
Dr. Marvin | Mars Ecosystem:
Q1: What is tech leader’s background/experience both in the traditional and crypto spaces?
Ethan | Parami: This is our Core Architect Dorian. Before co-founding Parami, he was the senior architect of DCEP (Digital Currency Electronic Payment), working for the People’s Bank of China. Before that, he was taking the responsibility of core architect & technical leader of TRON. From those jobs, he has gained much practical experience in consensus mechanism, privacy computation, cross-chain mechanism, etc.
He holds a bachelor’s and a master’s degree in Software Engineering. After receiving his master’s from University of Chinese Academy of Sciences, he became a blockchain enthusiast and active investor since 2013.
Dr. Marvin | Mars Ecosystem:
Q2: Can you talk a little bit about some key team members?
Ethan | Parami: Regarding team, we have this senior full-stack developer Mono WANG, a well-respected OG in the Rust community with many independent experiences in several projects like Tron and Ledger; we have Edison, specializing in ZKP algorithm, MPC and all cryptology issues with a strong commitment.
Dr. Marvin | Mars Ecosystem:
Q3: Could you please give us a basic broad understanding of what Parami is about?
Ethan | Parami: Parami Protocol, in short, is to build AD3.0 for Web 3.0. We change the game of digital advertising into a new form that protects user’s privacy, enhances advertisers’ ROI, and awards true influencers.
Dr. Marvin | Mars Ecosystem:
Q4: How are users’ data usable when they are encrypted and are invisible? And in what way will a user benefit if his data is permissionless used this way?
Ethan | Parami: Ok, guess I have to mention ZKP. By using ZKP, we turn a what/how much question that might be annoying into a comfortable yes/no question. You might feel annoyed, say, a landlord asks how much you make monthly, but ZKP turns it into a “Do you make over 3000 dollor monthly?”, if yes, he can rent the house to you. Such algorithm can spare users from privacy breach, because the advertisers only ask the minimum question, like “Do you like milk”?
Dr. Marvin | Mars Ecosystem:
Here is the last question for Part 1: What is the problem that Parami is trying to solve and what is unique about your approach?
Ethan | Parami: The problems we are trying to solve are
1. How to build user-centric advertising platform？
2. How to gather user traffic in Web3.0
3. How to increase the ROI of DigitalAdvertising in Web3.0？
For problem 1,
Parami provides Decentralized Identity solution which is not for blockchain but also for traditional social identity platform. This builds a bridge between Web2 and web3.
Moreover, parami provides a social network based wallet, the AD3.0 JS SDK and DID avatar integration. So that users can easily get reward just in Instant Message App, which is convenient and user friendly.
For problem 2,
Parami believes the social DAO will be the key element to form Web3 user traffic. Parami will provide AD-NFT and social coin for social DAO.
For problem3,
Parami will provide the PCAP (personal crypto advertising preference) which is based on homomorphic encryption and zero knowledge proof algorithm.
Part 2 — Twitter Questions
Dr. Marvin | Mars Ecosystem:
Q1 from @SchariacA: What are Parami’s long-term goals and vision? In order to achieve the highest efficiency of the set goals, what is Parami’s roadmap in the near future, what will be the goals that Parami will focus on developing this year?
Ethan | Parami: In the long run, Parami will launch its advertisement-rewarding model, with full extent of privacy-protective and influence monetizing capacity. In the roadmap, we will launch the MainNet V1 śīla, featuring NPOS mining, AD model and mobile wallet very soon. In the next quarter we will finish the governance and NFT support development.
Dr. Marvin | Mars Ecosystem:
Q2 from @Kokila93603877: Is there a distinguishing feature of #ParamiProtocol that allows it to compete with its competitors?
Ethan | Parami: The core feature is AD-rewarding feature. Influencers can issue social coins among projects, NFT features are also found by many, which might be also developing DID scheme.
Unlike a partial solution, Parami provides an all-in-one digital advertising solution. We use DID to ensure privacy, we use NFT for fair bidding, we use social coin to transfer value. All to make sure the user is always at the center, advertisers get efficient dispersal, influencers get themselves valued, a win-win situation.
Dr. Marvin | Mars Ecosystem:
Q3 from @Shanthi87800845: Security is a major concern when it comes to project sustainability. How can investors ensure that they are on the right track in the long run?#ParamiQ3 from @Shanthi87800845: Security is a major concern when it comes to project sustainability. How can investors ensure that they are on the right track in the long run?#Parami
Ethan | Parami: When it comes to sustainability, we are pretty confident in the previous rounds. We convince investors that the value mode makes sense. As you can see from above, the way Parami works for 3 parties. Now, we are sparing no effort to develop the features, test and launch. Communities all share the vision and value of Parami, that’s what motivates team every day. Back in late May and June, none of early investors complained even the market dived to the bottom and stayed bearish but stood firmly with us.
Dr. Marvin | Mars Ecosystem:
Q4 from @quyencao3200: Will it be necessary to have third-party platforms to connect the decentralized identity of the Parami Protocol with any other product or application in DeFi? Or really this identity can be adapted to the identity requirements required by any platform?
Ethan | Parami: Definitely, we are seeking necessary partnerships. For one, we have our customized Parami DID (PDID) solution. Although there are many ready-made DID solutions like Dora and Litentry, we have to use our own catered to our use. By design, there is a universal DID protocol by W3C to which we all stick, so we will also be looking for cross-chain partners like DID aggregator.
Dr. Marvin | Mars Ecosystem:
Okay,! We will come to the last question of Part 2.
Q5 from @tulong890: The name of the token is $AD3. So my question is why the name is so unique and what does 3 represent in $AD3?
Ethan | Parami: AD3 has many meanings, first of all, AD is for ADvertising, our main application, also, D for Decentralization, 3 for the new era of Web 3.0.
We do AD 3.0 for Web 3.0.
As we speak, Binance is asking for Web 3.0, Parami are ready.
Part 3 — Live Questions
Q1 from @Kaka7373: What is your plan for global expansion? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?
Ethan | Parami: We are in the first place a global project, teams and investors are from all around the world. We are not focusing specifically on certain areas, our communities members are from Europe, Southeast Asia, Africa, and so on. Currently, we are looking for global ambassadors to bring us global attention. Check the link https://paramiprotocol.medium.com/parami-ambassador-program-officially-launch-463b6a7f7013
Q2 from @RamonitaButterfield: How far has the roadmap been carried out until the end of this year and What positive results have been achieved?
Ethan | Parami: We have launched the Testnet in June, and internally testing the Mainnet which will be launched soon. By the end of this year, we will surely deliver the major ad feature and NFT, governance and all exciting Web 3.0 functionalities.
Q3 from @Romeo089: NFT is getting more popular now a days. It looks NFT has bright future. So do you guies have any plan to include NFT to your project?
Ethan | Parami: Yes, we are including NFT in our project. We use NFT as a unique space for influencers to vehicle the value, recently we are planning a NFT-based Parami Signature program, follow our medium for update. https://paramiprotocol.medium.com/
Q4 from @NooB_SaIBoT2: Collaborations and partnerships are some of the most important cornerstones to help improve adoption. Can you tell us about your current partners, plans for partnerships and what everybody stands to gain from these partnerships?
Ethan | Parami: So far, we have achieved multiple partnerships, refer to medium for all. Recently one is X Protocol, which do cross chain bridges and onchain data analysis infrastructure.
In the future, we are actively seeking partnerships within Polka network and cross-chain ones. All partnerships help community members know one another’s projects, some projects are essential parts in our model.
Q5 from @azzor1: What is the incentive for users to engage in p2p commerce on Parami compared to a more organic platform like Craigslist or Facebook Marketplace that relies on friends/family and the local community to source goods for cash or material exchange? (is it all competitive or its appeal is just that cryptocurrency itself is an alternative medium of exchange). How does Origin handle the “mutual trust” aspect of the exchange?
Ethan | Parami: I like this deep question. In a p2p network, all members are entitled to get tokens which quantify their contribution, also make proposal and vote with their tokens. Application of cryptocurrency is a good way to quantify everybody’s doing. The killing feature is the smart contract that executes without human participation.
Dr. Marvin | Mars Ecosystem:
That’s all for today’s AMA. @EthanParami Do you have anything to say to our users?
Ethan | Parami:
We are soon doing IDO, please follow us for first-hand update!
Telegram Official-EN: t.me/ParamiProtocolEN
Official: parami.io
Medium: paramiprotocol.medium.com
Twitter: twitter.com/paramiprotocol
Discord: discord.gg/bxFuekgvYJ
lightpaper: https://parami.io/img/Parami_Protocol_Light_Paper.pdf
