Dear DxChain Community Members,
Last week 07/31, we had a super successful AMA in our own telegram group (https://t.me/dxchain). Thanks to our supporters for helping us complete such a heated discussion about DxChain with more than 100 questions in one AMA section!
[AMA Awards Winners]
We selected 2 users who asked the most valuable questions to win 10,000 community points: Tony OM, ffffttt z.
And we randomly selected 8 AMA participants for 5,000 community points. These lucky users are listed as follow: FAN, Karlven Lee, xgz, Leaf, Mhsh, M May, YZmoney - Blockchain.io, Support, Cooper.
We are planning the next AMA session, please stay tuned for the updates here https://t.me/dxchainchannel
🎉DxChain (DX) will be officially listed on Gate.io, LBank, and Coinsuper - three of the premier global cryptocurrency exchanges!!
Please stay tuned for the official trading kick-off times to be announced by exchanges.
[Highlights of the AMA]
Q: How are you planning to compete with Amazon's mechanical turk or any centralized Big data platform?
A: First of all, DxChain is a blockchain which provides two properties: decentralization and immutability. The centralized solution might have problems of changing original data which cause many trust issue.
Q: I saw from the roadmap that each chain is launching one by one, why?
A: Due to the fact of engineering difficult in storage and computing, the core engineering team plan to release stage by stage. That is why you saw the first MVP is storage-focused. That is the very traditional way to address large software engineering problems.
Q: I know that DxChain will build a platform itself. Any specific type of dApps would you target?
A: The Dapps our DxChain team would like to see and want to work together with is big data centric applications like smart healthcare, smart city, IOT data etc. Any data related project (storage, complicated business logic) could be run in DxChain.
Q: What inspired you to seek the creation of DxChain?
A: We created DxChain with the belief that data owners should control their own data and know who use it for what purpose. Currently, only big companies have the capability to run big data tasks, because not only can these companies afford expensive hardware but these companies also own most of the existing consumer data.
DxChain provides two fundamental capabilities: computation and storage. That will break the IT giants’ monopoly of data services.
Q: We know that DxChain trying to solve computation of big data in a decentralized environment, we see now that big data companies such as IBM and others are adopting, how are you going to compete with them? What DxChain have that can definitely overcome their scalability of big data?
A: IBM and others are big data companies in a centralized way. We are not competing with them apple to apple but in a way that only blockchain would do: we are a trusted platform and does not control the data as they do, we help recognize the data ownership as each individual, and we increase the transparency and immutability.
Q: What are the challenges DxChain face moving forward especially in the technical aspect of the project?
A: The biggest challenge is still the talent acquiring. In order to make DxChain main net in production, we need a lot of talent joining our core team including well-trained blockchain developers, decentralized data storage and computing engineers.
Q: Do you have the motivation to implement this complex project after success ICO? how do you show your ambitions?
A: ICO is just a starting point for our founding team. The dream of the founding team is to make DxChain main net in production. None of the other goals is what we are chasing.
Q: A practical problem we recently faced in our office (Global FMCG) was that Nielsen Corporation has the monopoly over data for retail outlets in the country. Do you think DxChain Network, in the near future, will make it easier, and cheaper to get useful data and then make sense of it?
A: Yes, this is also why we created DxChain. DxChain Network provides two fundamental capabilities: computation and storage.
End users can use the network as a data exchange platform to trade data and as a business intelligence analytics platform, to analyze data for business insight.
And DxChain provides big data and machine learning computation. It will support business intelligence and make the use of data easier and more flexible.
Q: As the Supply Chain Development Manager at the largest FMCG in the world, how can I contribute towards the adoption of DxChain. Would you guys be open to some sort of PoC in the FMCG sector?
A: Supply chain in FMCG could benefit from the computing, storage of mass data, utilize the immutability feature of blockchain data structure, and trade the data to the relevant parties with consent. We would for sure target to serve the industry once the chain is developed. and thanks for the support. Please keep posted on the development!
Q: With multiple competitors in this space such as SONM and Golem who are very far in their development and with your roadmap saying the main net is scheduled to be launched by Q4 2019, what are the key strategic plans in place for the project to be a success?
A: We measure our success by the impact but not the time of launch. We believe that our unique chains on chains structure, integration of Hadoop to facilitate big data and machine learning and flexible powerful system architecture could facilitate the data exchange in an effective way and make the most impact.
Q: The problem of cloud storage/ computing project is, currently big data is mostly being used by enterprises and government. Is there any plan for the team to implement adoption?
A: You are correct because enterprises have most of the data resource so big data analysis is used there. If we could provide more data for everyone, the individual people could run some analysis and find some useful information they never see before.
Q: Who are all going to be early adopters of Dxchain when mainnet is active. How many enterprises have shown interest in Dxchain so far?
A: We have received a lot of interest so far though won't be able to disclose at this stage. The industries show much interest are those with relatively higher value and higher demand for privacy
Q: Can Dxchain compete with other the same project?
A: Storj and filecoin, these two projects are very good, but they are only focusing on storage. Storage without computation could not bring real business value.
Golem, a project providing super-computing, like image 3-D rendering. These type of computing does not need a lot of data. However, we believe business value should come from big data.
Plasma, it mentioned map-reduce, however, this project is still focusing on financial transactions, but not for general purpose computing.
Q: What are your global expansion plans?
A: We are working very closely with our business partners and will publish it in the near future. Please wait for some weeks.
Q: How can a common man sell his data through Dxchain? Is it possible?
A: Of course, anyone could sell his data and price will be set by the seller. You will get paid when others purchase it.
DxChain support user data protection through our data model, the data belong to the user itself and none of the other users can decrypt it.
Q: Like I use my navigator and Google can easily sell this data to local advertisers.. Instead how can i monetize this data through Dxchain?
A: Third party partners can develop Dapps to collect navigation data and send to the network and owned by you. So anyone buy it will pay you.
With regards to DxChain:
A Decentralized Big Data and Machine Learning Network Powered by a Computing-Centric Blockchain.