Waves Platform — Vision, Development, Business, Marketing — Sasha Ivanov Q&A Transcript

  • Intro

    We are finishing consensus algorithm, POS algorithm which is going to allow us to launch the full nodes. It took us a little bit longer than we thought, some problems with network layer and Scala, some technical issues that actually we didn`t know about but all of them all solved at the moment and we are moving forward. At the same time we are working on custom tokens. The essence of the Waves platform is the ability to create, trade, transfer, issue custom tokens. I thought initially that we will launch the main network without the tokens but we have them almost done, so we are going to be launching both full nodes and custom tokens. After that we are going to be working on LPOS that is some cross between Bitshares delegated POS and Account Leasing from NXT. This is going to allow us to offer a secure LPOS system, very fast, where only like 100 hundred nodes process all the transactions. It is some kind of centralization of course but it has to be there in order to make system production ready. It can really make transactions faster and it can make the system business oriented.

    We are not trying to build some network of laptops that can confirm transactions, we are working on the system where handful of nodes process the transactions but they can do it efficiently. That will be the next stage of our development and after that we will have Waves as a pretty production ready system that can be used for a variety of applications, for token creations, you will be able to do a lot of things with it and it is going to take us not so long. The time for it would be beginning of fall where we have LPOS, centralized trading with blockchain settlement, where you can trade with high speed on centralized servers but they don`t control any funds and all transactions are settled on blockchain. We are going to have it pretty soon. That will be first production version of Waves platform. So these are our plans for the next several weeks, few months.

    I will be replying all the questions from the channel now. Next week, I know that i have promised next week like two weeks ago but this time it should be real. We are going to be launching it on testnet and we will announce the bounty program for finding bugs on the testnet. If you want to participate you are very welcome, if you want to run testnet node you are very welcome too. I think it will pay off for you in the long run. If you find the bugs you will be rewarded with a bounty program. We like our community, we can see the interest and we must make sure that we keep the ball rolling all the time,so people don`t lose interest in helping us. Crypto is about cooperation guys, because where there is some kind of separation, for example the thing that happened to Ethereum recently, it is always bad, it can never be good whatever people say. If people cooperate we all move forward.

    Q: Is there an existing fee plan for tokens, for using the platform, transacting, issuing, staking, crowdfunding?

    A: Yes there is a plan. Actually it will be determined dynamically, so there is going to be some balance between the full nodes for how much they are willing to process the transactions, more or less as it is in Bitcoin, and the needs from the users, from the clients. There is going to be some initial proposed fee schedule, our goal would be here to have like 100 full nodes that are processing most of the transactions and make money with it, so we would reach some target, about 1k or 2k USD per node. It has to be profitable and obviously node has to have potential resources, dedicated server, so the costs will be like few hundred dollars . To compensate for that the node has to make some money, so we are going to be targeting this and all the fees from transactions, assets issuance will be tailored to this.

    Naturally also there will be some more complicated structure, for example to issue asset you will have to pay some more than just to send transaction but it won`t be the fat fee for all the types of transactions because you use fees to mitigate spam in your system, similar to Bitcoin. All the major, essential operations will be quite cheap — transactions, issuance, trading because you will have to pay fees for centralized matching. The exchangers, the matchers will announce what the fee is and you will be able to select the matcher, the exchanger with the lowest fee, so as i said it is going to be dynamically determined but we will set some initial values, so people can work from there and ultimate goal is to have full nodes making like 1,000, 2,000, 3,000 USD a month for their operations. The fees will be announced as we launch the assets and the matchers. Fees should be adjusted to make this happen, so people have to make some money.

    Q: Is it necessary to expand the team or the current team is able to do all the work?

    A: We will be hiring new people of course, but not so many people are in crypto, not so many good coders are in crypto. I think we have enough talent to create the core system and new people will be coming to us, so we are fine at the moment. The core system will be created by the current team and we will be hiring new people along the way. Currently i am looking for several coders because we are starting to think about several directions like smart contracts that are going to be realized in different way, not like Ethereum. I don`t want to say anything bad about their own way of doing it but there are different ways, so we want to pursue different direction for smart contracts where only the full nodes executes them, not all the nodes in the network, but only selected nodes. It is simpler, more secure, it is not so decentralized but it can have some advantages. So we are going to find the coders for the smart contracts team, also i am looking for a coder who would be working on secure messaging within Waves client. I have couple of coders who would be willing to do that, we will see how it goes next week. If they want to work with us we can negotiate.

    Important is also matching because we are working on exchange platform that will allow exchanges, normal existing exchanges, i am talking to several exchanges — Bitcoin and cryptocurrency exchanges, to interact with Waves, so they are going to be matchers in the system. They are going to be matching bids and asks but they won`t hold any funds, they will be doing matching only and want to have this matching engine within our full nodes. It will be allow us also not to be dependent on centralized exchanges, we will have like full package where you can be a full node and at the same time you can run the matching engine. We are going to do matching engine in Scala. We are looking for some coders who are experienced with trading engines and who are experienced in java. So this will be our third coders team that we are going to hire now but the core system will be developed by current team. I am really glad we hired the people we hired, the core system is moving forward. I think we are going to hire 3 to 5 new coders within a month hopefully.

    Q: How are you connecting to the markets outside the crypto, how is connection to banks going, i see a lot of devs have banking experience, how we are going to get connections outside the crypto?

    A: We are talking to very many payment providers who are willing to provide gateways for Waves. We can`t announce it yet because we don`t have ready production system yet. We are good and we are going to have fiat tokens as soon as we have assets. We have to decide with who we are working now, because there are like 3 or 4 companies that are going to do that and probably initially we will have to have only one EUR and one USD token in our system because otherwise it can get pretty complicated. We have to choose best provider and start working with him, so there is no problem at all here, we are just moving into direction that is actually perfect. We have people interested in our product, i want to mention that we are going to be probably working with normal banks, they are interested in some custom version of Waves platform for banks. I am talking to some banking people now and we can work into that direction too. It is going to be based on Waves codebase but it is going to to be tailored for banks and use cases are numerous.

    Use case we are targeting at the moment is selling and buying individual credits, so for example when the mortgage crisis in USA happened the problem was that they made some packages out of 1000 mortgages and they sold them to other banks. You couldn`t really evaluate each part of the packages, so you could have very bad credits, very bad mortgages there. There is interest in banking to provide some transparent system where you can see whole portfolio of all the borrows in the system, so you can buy one by one and don`t have to package them. You can create your own portfolio and there is going to be something like transparent interbank system of lenders and borrowers, it is very interesting development and can change a lot of things. It can bring Waves platform to banking world. Of course the platform, the open Waves platform will also benefit from this, technically, financially, organizationally, so it can be very nice development.

    Also we have one of our team members who has the extensive experience with banking, being a programmer in many banks for many years. He is in UK now and exploring different possibilities for creating some payment entity for Waves, that will be more tightly connected to Waves. Our initial idea was to outsource all the payment processing to third parties but at the same time we can consider creating some our own e-currency system, which is properly licensed, to have better control and maybe to implement certain things that can be implemented later with third parties .This team member is on our website, his name is Ivan and he is working on that now. He is talking to UK banking people, evaluating the costs and if we really need to do that. If we decide to do this it will be fully licensed payment provider with UK registration. So we are talking to many banks and i think that there is some mutual interest here and we are moving forward pretty fast.

    Q: Are there any plans, possibilities for the Waves platform to eventually also become a payment solution for web shops?

    A: Naturally yes, as you probably know we don`t encourage using Waves tokens as value transfer because we will be supporting fiat tokens in our network but of course they will be accepted by web shops, so there is going to be some merchant interface and everything. This is important, this is on our to-do list, because there has to be some merchant interface pretty straight forward and easy to deal with, so we are going to be solution for web shops, so they can accept not only Waves tokens but also fiat tokens in our network. This is the major direction naturally.

    Q: Are you considering making international money transfers possible as banking transfers are slow and fees are expensive now with banks or platforms like PayPal?

    A: Yes, sure we are working on international money transfer and remittance, we are working on that with Mycelium. They are implementing their new platform and Waves tokens are going to become a part of it. So they will be implementing our fiat tokens within their wallet and within their more general platform. Mycelium has great vision, they are not only Bitcoin wallet, there is some bigger picture there, they want to create some platform which can also include brick and mortar businesses that can accept their payment card. They have very nice hardware card that can work without existing Visa or Mastercard networks, so they have the major payment platform and we will be working with them on implementing our fiat tokens, and they will be implemented in order to enable international money remittance. So you can send for example USD to UK, they will be converted to GBP along the way automatically.

    Money remittance is very big scene and very many groups are working on that, startups. It is not sold yet, probably we could sell that or someone else but hopefully that`s going to be us. Money remittance should be made cheaper, you have some directions of money transfers where you have to pay like 5% in order to send money and money is nothing else than information. You shouldn`t spend that much on transferring just for several bytes of information, it clearly has to be disrupted and money remittance is the thing we are focused on along with crowdfunding. Major focus is on crowdfunding and value transfer, we are working with Mycelium on making this real.

    Q: It seems to me that business side of the project is very important, perhaps more important than the tech, what is the strategy for developing business relationships and is it working?

    A: I want to partner up with as many business as possible, they are open to cooperation. We are approaching many banks and we were not rejected by anyone yet, i think we are working pretty fine, our philosophy is based on cooperation. I want to cooperate with as many businesses as possible and to make product that is usable, that is needed, not like something i can extort on people, businesses but i want to really meet the demand from the existing businesses. Let`s see how it goes, for now we are moving pretty fine.

    Q: What are the minimum required specifications to run full node ? Can RPi3 be enough?

    A: I don`t think RPI3 will be enough, we have some different philosophy here, only good hardware can run the full node, so you don`t have to have several thousand RPIs. Good hardware, server can do everything what network needs. I think in the current stage of cryptocurrency development this is a better option that can allow us to create production ready system, that can`t be broken, that can be used by real businesses without being afraid that whole network just goes down or just forks into two networks. So we will be probably offering people to install a good server with good hard drive, good amount of memory, some good processor and to install it at the data center and to pay for it like couple of hundred dollars but make at the same time much more.

    Q: What will be the amount of Waves necessary to run a node?

    A: As you know we will have LPOS system where network nodes can lease their “balance” to miner and it can use this balance it borrows from the network to mine/forge. Forging is used in NXT, like mining with your stake. You will be able to announce that you have good server and that you will be fully committed to provide additional security to the network. In this case people will be leasing the balance to you, so you can use their balance for mining. Actually you could have very small amount of Waves to be mining, like 100, but if you can promote your servers, announce some competitive fee, for example like you give 60% of the Waves you mined back to people who lease you their Waves, in this case you will become successful miner/forger in the network. So it depends also on your commitment, determination to run a node to support the network, not only on your balance.

    Q: You developed Coinomat, yet ShapeShift being top, dominant player. With a Waves project are you purposely holding any cards close to your chest or doing things bit differently, so competitor can`t copy your idea and beat you to it like it happened in the past?

    A: Subconsciously i have this in mind and i always remember that, so yes, because Coinomat was first instant cryptocurrency exchange, basicly we invented this business but then ShapeShift came and became a dominant player. I am quite experienced in things that can happen. Actually Coinomat is going to to become one of the gateways for Waves, we have been discussing it with the developer of Coinomat because i am not the only person here, now we have some common ground and he will be developing gateway for Waves. It is not going to be one of the major gateways but it will be one of them. All other functionality will stay there, so you will have card transfers, instant exchange, everything Coinomat had before but at the same time it is going to be gateway for Waves.

    Q: You are always saying that it is long term investment and that it will pay off, why are you so super certain about it?

    A: I have to be certain, because i am in the process, i am in the core of Waves odyssey. I can see how it develops and i am confident that we are going to do it and i am completely sure that everything what we promised will be realized. What can i tell you…just have a little patience.

    Q: Where will be the announcement about full nodes made?

    A: I will do it on twitter.

    Q: In regards to exchange features could you go into detail on how margin trading will be implemented on the Waves platform?

    A: It can be implemented the same way it is implemented currently on the centralized exchanges because we don`t change that infrastructure, what we change is the way exchanges hold users funds. All the matching, all the margin trading is going to remain exactly the same. It is like best of the two worlds, centralized matching with high frequency trading and funds are held not at the exchange but in other places that exchange has no connection to. We are not changing the way how centralized exchanges are doing their trading, so we can have the same margin trading and it will depend on the functionality of the matcher/exchange not on the Waves functionality itself. What we provide is blockchain settlement, but we will be providing also order matching. Hopefully some bigger exchanges will come and will use our servers as blockchain settlement platform at the same time having all their functionality in place like margin trading, lending within the platform and everything.

    Q: Will we be able to trade whatever cryptocurrency we wish on exchange?

    A: You have to connect your cryptocurrency to Waves token, so you will have to have some multisignature functionality within this cryptocurrency. If you have it you can do that, you can store it securely, you send it to some multisignature address, it is accepted, at the same time corresponding token is issued and you can trade it next on Waves platform. It is more or less the same when you make deposit to exchange. You send money and they credit your balance, here you send it to some multisignature account and it sends you back the Waves token. It is much more secure but conceptually it is pretty close.

    Q: Can you name other companies planning to list on Waves decentralized exchange. Perhaps that banking platform you mentioned before?

    A: Yes it can be integrated in the banking platform and also all the tokens that are issued on Waves can be traded on the decentralized exchange, so it has to be automatic because for example there also can be an exchange, centralized exchange that can trade or offer services for some tokens but not offer them for some other tokens. Exactly for this we are creating this module for matching, that you can install and provide the matcher servers for your token. You can issue your token and provide the matching service for it. It has to be completely fair, so if you issue your token it can be traded with very high speeds at the centralized exchange, all has to be automatic.

    Q: I am looking forward to Chinese Yuan, do you have any input on this?

    A: Yes, we will be working on Chinese Yuan naturally, first we are going to have EUR and USD. EUR probably is going to be the first. If some Chinese payment providers are watching me now please contact me. Yuan is very important of course too.

    Q: What sort of efforts are being made to add additional exchanges and how this effort is progressing? Has Poloniex ever gave solid reason as to why they haven`t listed Waves yet or is it an assumption that they are waiting for full nodes?

    A: As ia have told you we are trying to create some alternative to existing exchanges, so i am very open to work with all the exchanges who want to work with us. I can understand the frustration why we aren`t on Poloniex yet but we will be there in due time. I personally think they are waiting for full nodes and i am not pushing them because i think it is not that important. In the long term other things are important because we are creating some alternative mechanism for exchanges. We are going to have our own exchange in a way and i am totally sure that we will be on all major exchanges when we have full nodes and i really hope that all major exchanges are going to use our tech, our blockchain settlement tech to make their operations more secure. As for Poloniex i have been talking to them, i don`t want to push them, don`t see any reason to do that, so they will have us when they see fit i think and that should be as soon as we have full nodes imo. I think everything is going to be all right.

    Q: What is the status of tech paper? Is it going to come out at the same time as the full nodes?

    A: We are going to have several tech papers including one academic paper. We have major cryptographer working on some algorithm, on some proof which is going to be used for confirming transactions on Waves network and that article is almost ready. It is going to be not a whitepaper but proper academic article which will be submitted to peer review for journals. He will present it at the conference and will be talking about this approach. At the same time i have started to write LPOS whitepaper and there is going to be another whitepaper about our blockchain settlement approach. So we are going to have 2 whitepapers and 1 academic paper within a month i think and there are going to be also others.

    We are working with guy from Germany who wants to write 2FA system, he is cryptographer and he wants to implement his 2FA idea he has on the Waves blockchain, so that could be another article. Some other directions are also there, so we will have a lot of papers, don`t worry about it. You will be able to see all the progress because i will be uploading all the drafts, so you can see that we are working, how we are thinking about things that we are going to realize. I will share LPOS whitepaper next week, so you can see we are thinking about best way to implement a secure POS system which is not easy, because POS is more tricky than POW. It has its advantages but it has to be made secure, the are some attack vectors that should be taken care of and we have to proceed really carefully here.

    Q: What is your opinion on rival technologies such as Bitshares and Heat Ledger?

    A: I don`t know Heat Ledger, i am sorry, i have to read up on that. Bitshares is cool, i don`t have anything against it, they are probably not moving fast now, i don`t know what happend to them exactly, i can see they are not making any significant progress but it is good platform. What i really didn`t like about Bitshares is their pegged assets because imo that idea will never work, because you can`t really provide the dynamic peg. It can just break down and you can`t do anything about it, it is an idea for the test, not production ready idea. All the rest is pretty good with Bitshares and i don`t really think we compete. We have different niche, i wish them all the best, i think they have some business ideas.

    Q: Any word on new video you have spoken serveral weeks ago?

    A: We just made our new website with old video but it is time to replace it yes. In the building where we rent our office space there are like 10 video production companies, i will be approaching them one by one and will negotiate the best price. We will have new video within a couple of weeks. We have to have good script for it, we have nice video but i don`t really like the script there, so we will have to come up with better script, so it is more accessible to people. We have to invent very nice script, so people can really understand what Waves platform is about.

    Q: Will the community get expenses report, any work on that?

    A: Ok, let`s do it at the end of the month, so what we are doing with our Bitcoin, let me explain i am sure you are all curious. We exchanged some into fiat, it was something about 4000 Bitcoin because it was good moment for this, it was before the halving and now we are just moving to cold wallets from Coinbase. Coinbase is nice platform but you know it is like you can never be sure, i think they are absolutely legit but they had some issues with Ethereum recently, so we are moving Bitcoin to our cold wallets now and you can`t move more than 2500 BItcoins at one time from Coinbase, so we have to do it in batches. We won`t spend it, it will last us for years, the budget we have and will allow us to realize everything we want. We are good financially and i will be providing all expenses reports. If you want to know our burn rate is like i think 50,000 USD to 60,000 USD per month atm. It is not that big because Ethereum spent like 300,000 USD and we spend much less. So let me make the report at the end of the month.

    Q: Are there any freelance contract marketing positions available?

    A: If you want to work with us, just write to me on Slack or to some other team member. Sometimes i get too many messages. You can contact me in some other way or just write in general. I will talk to you and we will work our something for sure.

    Q: Will one be able to create token within Mycelium wallet utilizing the Waves platform?

    A: Yes, first we will have fiat tokens then we will have general assets, so you will be able to create Waves token within the Mycelium wallet.

    Q: Will Mycelium handle transactions through Waves platform?

    A: Absolutely they will.

    Q: Do you think that there was price suppression and why you think it is happening?

    A: Yes, someone has tried to bring Waves down. I don`t really think we need to prevent somehow people from doing this. If they want to dump, let them dump. People who have faith and who can see that we are working, developing and moving forward they will just buy their tokens, so i think it is ok. At the beginning after ICO yes, someone tried to play us but you know we can`t be played and i just don`t care that much about that. What i care about is long term, this is the most important. If you want to just flip Waves token i can`t really help you because i care only about long term investors that support our network. They are like the partners. If someone wants to dump let them do it, some smarter people are going to pick it up.

    Q: What is the impact of NXT 2.0, Stratis releases on a Waves success?

    A: As you know NXT platform is developing, so i am really happy for them, i wish them all the best. They are pursuing very interesting direction with the sidechains. Actually there is no production ready sidechain platform yet, Lisk maybe but it is also not so production ready, so if NXT guys are able to do that i will be happy for them. I don`t really think sidechains is the way to go but i can be wrong. I don`t know so much about Stratis, i have talked to project manager, as far i understand it is some kind of blockchain on-demand platform, i might be wrong.

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  • Q: What is going on with current assets on the NXT?

    A: As you know i have launched several assets on NXT platform, Coinomat, NEXT, Cryptofund, some other assets, so as soon as we have tokens running we will be transferring these assets to Waves platform. It is going to be interesting because we can test how it works with our own assets, wipe out all the bugs and stuff like that, so all going to be moved from NXT chain to the Waves chain as promised.

    Q: What is the team dynamics? Do you take breaks and have fun? ping pong, pool table, football, going to movies?

    A: Actually, we didn`t have some kind of party yet, we will have this i think next week because it is time, you may not believe me but it is true we didn`t have a party yet. The spirit is good, it is all good here actually.

    Q: Basically, how is a working day like at Waves physical location?

    A: People come here around 10 AM and we go home around 9 PM, i am here every day too and many people make just a mix from home. It is not strict, i hate this thing when you have to have some very strict schedule when you have to be there at 9 AM, when you come late you have to pay fine and stuff like that. It is just a meeting point for all the coders and they can code from home, it is not a problem because we have also many freelancers, our designer Carlos is working like from very far from here, also frontend developer Tobias is living in Germany, so it is like you don`t have to be in the office to be coding, you can still interact with people remotely.

    Q: You said that matching system will be on full node, in the asset specification it says it is centralized, what is it?

    A: As i have told you yes it is centralized exchange that is connected to Waves network and just matches bids and asks, just matching orders and it can settle all the trades on the blockchain. It doesn`t hold the assets, it is different with Bitcoin because you have to accept Bitcoin and issue an asset corresponding to the Bitcoin you accept. So you have to store it somewhere but it can also be made much more securely in this case, so it is centralized matching with decentralized settlement.

    Q: You said that there will be 100 full nodes, will Waves team be running any of these nodes?

    A: Naturally, we have to see how it works for ourselves.

    Q: Will any of the delegates be voted by Waves team?

    A: You vote will your balance, so if you have money you vote with your money, you can`t cast a vote just like that, you have to have some balance but you don`t to mine/forge, you just want to lease your balance to professional servers, so it can stay up 24/7 and share profits with you. You just send your “balance” to that node, at the same time you have full control over your real balance. You can send payments, you can do whatever you want. It is just forging/mining power that is transferred to a mining/forging node.

    Q: Is voting for delegates 1:1 or i can vote for the delegates with the same weight?

    A: You can lease your balance to as many nodes as you wish.

    Q: Do you have plans to work with SuperNET?

    A: With James yes, i think we can have something working together. James is a great guy, i like his vision and i think we will have something further down the road that we can do together.

    Q: Do you have already some ventures in the pipeline to crowdfund on Waves?

    A: Yes we have like 10–20 projects who approached us, i can`t mention them, very different products. We have two projects for example from Australia, several projects from Russia, pretty serious ones. You will see for yourselves soon.

    Q: What are the future plans for Waves marketing promotion?

    A: As soon as we have the tech ready we are going to be promoting the hell out of it. I think the most of the funds we will be spending will be spent on marketing. You can really develop the code for not so much money but to market a thing you need to spend a lot. We will have a major media campaign as soon as we have tokens and we will be targeting startups, all the businesses that could raise funds through crowdfunding, all the crowdfunding communities, so it is going to be big because our marketing team is actually waiting for this moment when they can start promoting.

    Q: All projects can have delays but i think Waves delayed much more that you have said, what do you think about delays, is there any plan to cut delays?

    A: We might be delayed by a week or two, but we are on track, it is all going to be there, you can`t really predict 100% correct how the development will be unfolding, so if you look deep into detail you can see some problems and issues but in the bigger picture we have absolutely no issues, we are on track, we don`t delay anything. Please don`t create any drama, there shouldn`t be any. We are moving quite fast and we are implementing new ideas, for example we wanted to realize the exchange thing differently in the beginning, i had an idea to do it like NXT when you have all trading directly on blockchain but then we realized it is not the way to go, we just made a pivot and we are creating something very interesting, something that we really didn`t plan to do but that can become a game changer. We come up with new ideas every day, so i like the way we are developing and we are moving forward, so please don`t create so much drama.

    Q: What steps in the team have been taken for marketing advertising and do you have plans to attempt Bitcoin meetups and conventions to gather more interest from the Bitcoin community?

    A: Absolutely i went to very nice conference in Odessa in July, we met with Charles Hoskinson there and with other nice people, probably i will go to China in September. I am waiting for the tech to be ready to be able to promote it better. Now I am focused on the technology, because there is time to focus on promotion and there is time to focus on tech.

    Q: Will Waves and IOHK be funding the Scorex foundation 50/50?

    A: The idea is that we fund it together. It is separate entity because Scorex team is researchers team who don`t want to do production systems. They want to do research and we have to respect that. So it is going to be separate entity and it will be funded by IOHK, Waves and maybe some other groups who are interested in using the code.

    Q: When wallet can be protected by 2FA?

    A: It will be, you can`t create 2FA system easily on the blockchain, it is tricky because you have to have some randomness on blockchain and actually there is none, so you have to find a source for randomness on blockchain. There are some ways, @Hawky suggested one but there are some backdoors because it is quite complicated, you would have to create new 2FA token after each transaction, so it is quite tricky.

    Q: Is there any chance that full nodes won`t be released next week, because of the network issues on Scala?

    A: There is some small delay but testnet will be live next week, you will be able to test, at the same time we will finish the custom tokens and we will launch full nodes together with tokens, i think it is going to be even better. We will have tokens functionality and people will be able to issue, run their crowdfunding campaigns soon after we have full nodes.

    Q: You have said that you are talking with a bank for a new platform based on Waves platform?

    A: It is not European, not Russian, it is central Asian bank, some country in Asia that is interested. The banking people i am talking to are talking directly to central banks there, so they have top tier connections. Country is probably not so big but it is good beginning in any case. In Russia, it is trickier because everything in Russia is quite tricky. They are not going to ban Bitcoin, probably we will be working with some Russian banks too. It is easier to implement certain things outside the Russia.

    Q: Is there any plan to expand the market to Latin America, Brazil, Argentina, Mexico. Do you have any contact?

    A: Yes i have been approached by many people from Latin America for example, so it is just matter of time, matter of focus, so as soon we have major currencies like EUR, USD we will be working with smaller currencies, they are also very important. You can have very great use case of your technology in some smaller country, like some demo, next you can show it to everybody. The same this banking group that is going to implement Waves platform in Asian country, so you can show it to people that it is working there, can scale and can work anywhere.

    Q: Why did you put up a 200 Bitcoin buy wall and why did you remove it?

    A: When did it happen actually? Please elaborate on that, because i put a wall after the ICO and i bought more than 2 million Waves back and i am happy about it, i would buy more.

    Q: Do you like vodka?

    A: I don`t drink much guys, i can drink socially but that`s all, i don`t really drink much. Trying to having healthy lifestyle more or less.

    Q: Has Waves foundation been registered in Germany yet ? I remember that was a thing.

    A: Yes we are in process and actually i decided to diversify a bit, so we will have also other local foundations and i will be registering UK one next week. Process will be faster than in Germany, Germany is taking us a little bit too long. In the end, we will have German one and UK one, and probably Asian one in Hong Kong or Singapore.

    Q: Assets and gateways issuance is coming by the end of September?

    A: We will have assets next week i think, all the necessary tech stuff, like preliminary tech stuff that has to be done, has already been done, so we will have to create frontend for this. So we will have asset creation on testnet next week i think, so it is faster than the September.

    So guys i am very deep into this, i can sometimes be little bit more optimistic than what actually happens but please bear with me. I am doing my best to make it work, i hope you will understand. Thank you guys. Probably next week we will have radio show with CORE team, with Lootz and week after that we can have another Q&A session if you like. It has been my pleasure, i hope you liked it. See you guys later.

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