Blockelite x CyberVein AMA Recap

Blockelite x CyberVein AMA Recap

Thank you to everyone who joined AMA Blockelite x Cybervein on 23rd September 2020 at 12:00 PM CET I 10:00 AM UTC I 17:00 PM UTC+7. Here is the recap for those who missed this AMA.

Our special guest today is Pavel Jakovlev, CMO of CyberVein

Can you briefly introduce yourself as well as the CyberVein project? @paveljakovlev

Pavel: Of course!

CyberVein is an exciting data project out of China, registered in Singapore, with communities all over the ASEAN countries. The project is set to interconnect the data that runs the world.

I came on board fairly recently, helping the core team with global expansion. I have been in blockchain and crypto for the past 3 years, worked for a blockchain venture capital firm, built an incubator, worked with Bittrex on their global expansion. These days I work with flagship blockchain companies, helping them get to the next level!

Thank you @paveljakovlev for your introduction, our pleasure to have you join us today

On to the Segment 1 of our AMA, we hope you’re ready for the next few questions coming at you! @paveljakovlev

Pavel: The pleasure is all mine!
Let’s do it!

Segment 1, Q1: 2020 is the year of Defi and yield farming, so does what CyberVein think will be a trend in 2021? And what is the strategy to keep CyberVein from falling behind?

Pavel:

Oh yes, the DeFi and Yield Farming

I got a few thoughts on that

We see the DeFi trend as one of the main catalysts for blockchain technology development in 2020. There are a lot of similarities between 2017–2018 and 2020. A lot of inexperienced retail investors are jumping on the bandwagon in hopes of making a quick buck.

Surely, there is innovation happening, but most DeFi projects lack people with finance backgrounds. How will DeFi create an alternative financial services industry without understanding the fundamentals of finance remains to be seen. Will it be a trend in 2021?

Hopefully, while we won’t make the same mistakes as we did in 2017–2018 and be cautious with what we invest in. Blockchain technology has a unique value proposition, but if it keeps being associated with pump and dumps and get rich fast, multi-level marketing schemes — it’s neither good for the technology, nor for the global community.

What are we, at Cybervein doing? Well, we are building technology solutions within blockchain’s key competence — databases. Our objective is to prevent data siloing, help folks monetize their data, and create a more secure and stable data environment.

I’m sure everyone is interested in Defi and yield farming

Segment 1, Q2: What is DAVE, what is the goal?

Pavel: Wonderful question

DAVE is CyberVein’s Data Analytics and Valuation Engine initiative focuses on providing value to its members — the data-intensive companies. The DAVE Alliance offers three core solutions:
– Data, storage space, or computing power (GPU) marketplace, where users can purchase said resources with CyberVein’s tokens, CVT.
– A data derivatives pool, where users can purchase derivatives of data extraction and big data concepts.
– A decentralized token exchange, where users can swap member companies’ tokens directly with each other.

DAVE’s objective is to continuously provide value to member companies and individuals, eager to combine their resources in a bid to monetize their data. In its core, DAVE propagates data ownership and security. This initiative is in line with CyberVein’s vision to solve three major problems in the big data space: information siloing, data ownership and security, and data monetization.

Segment 1, Q3: Who should join DAVE, what are the benefits of joining DAVE?

Pavel: wonderful question!

CyberVein’s team invites all blockchain companies, which are solving problems of data ownership, cloud computing, distributed storage, and computing power to join the Alliance. Outspoken data privacy advocates, data ethics practitioners, and open source evangelists are also welcome!

In addition to providing its development resources, CyberVein commits to supporting DAVE members with marketing, communications, and public relations activities. Continuous community engagement campaigns come part and parcel of DAVE. Ask Me Anything sessions (AMAs) and social media coverage will target a combined community of 500,000+ members.

The Alliance will get marketing and PR support from Cointelegraph, Bitcoin.com, TokenInsights, AMBcrypto, Jinse, Coinpost and others.

Segment 1, Q4: What is the most recent collaboration that CyberVein had?

Pavel: Great question and it’s something I am proud of

CyberVein has a proven track record in the data-intensive industries, such as smart cities, IoT, medical research, logistics, and payments. In the past three years, CyberVein’s team has successfully completed more than 20 large scale projects. Some of them include the Port District Government of Zhoukou City, Hong Kong Capital Pay CS Pay, Shanghai Taishi Tax Rebate, and the Dubai Smart City Program.

It is due to the company’s strong track record, the People’s Government of Hainan Province has awarded CyberVein the Technology Lead for the Wenchang Smart City Project. CyberVein’s proprietary big data technology will be used as the core platform, ready to integrate with other partners’ applications. You can check out a recent article in Cointelegraph here: https://cointelegraph.com/news/a-very-cool-pitch

Thank Pavel for helping answer all questions of Segment 1.

Our guest is ready, we will start Segment 2 right now !!!

Segment 2, Q1: What phase are the roadmaps at? What is CVT trying to solve for the development of the blockchain Industry? What are Cybervein’s current and future targets to be realized? — from @CuongPham1997

Pavel: Great question!

Cuong, we are sticking to our roadmap and more! I am sure you’ve heard about two of our recent developments: DAVE and Hainan. I’ve mentioned both of them in my previous answers, but happy to provide you with a link to our latest press release on both initiatives: https://cointelegraph.com/press-releases/cybervein-launches-dave-initiative-and-signs-partnership-with-hainan

We are building an ecosystem for blockchain companies that work in cloud computing, cloud GPU, and data storage, as well as individual contributors.

As for the targets, we look forward to realizing DAVE and help folks monetize their data.

Segment 2, Q2: Can you please tell the investors that currently how many people working as a team , their backgrounds & credentials, and their achievements ? Can you share us on recent achievement your team are most of ? from @Huong83015142

Pavel: Exciting stuff!

This is going to be a long one

We have more than 20 people working in Shenzhen, a few colleagues are in Beijing and Shanghai, as well as Seoul in Korea. We also have an R&D lab in Zhejiang University, where 12 developers are working alongside Lifeng Liu.

The core team is comprised of Arthur Yu, who has a Masters of Finance and Bachelor of Computer Science from Imperial College, London. Arthur previously worked for J.P.Morgan in London. He founded the SAAS community O2O company and SAAS platform development company after returning to China. Arthur has experience in architecture, as well as in developing high performing teams.

Another founder is Ansel Ko, who holds a Masters of Management from the University of Reading, UK. He is a serial entrepreneur of social platforms such as Tata, Precision Advertising and DSP-Ing Media. Since 2015, he has been involved in finance, as well investments

Then, there’s Lynn Lin, who completed a Bachelor of Business Administration at Xi ‘an International Studies University. Lynn is an award-winning marketer with experience as a marketing strategist for a leading listed company. She was an early blockchain community volunteer contributor, Golden Financial columnist, Babbitt compiler, and has published over 20 blockchain related articles on 21st Century Economic Report, Today’s Headlines, Sohu Financial and other media. In July 2017, she founded Blockchain Club and successively operated and promoted several domestic and overseas blockchain projects.

And a few other notable co-founders and core team members, such as Jack Ge, Jerry Ning, Grace Ding and others.

Segment 2, Q3: A platform that allow share data between users is not really something new, so can you tell me What are the innovations that CyberVein is offering? Which enterprise solution are you bringing through your platform? from @Furkancenderlio

Pavel: fair assessment. Allow me to expand!

Our best use case is a Smart City. This is why we have been selected to be the Technical Lead for the Aerospace city in Hainan. The way our technology records data is unique and fast, which allows us to process large data sets in a distributed way. In its core we have The PISR enterprise-level distributed database uses the blockchain to record the database status and operations in units of time, which not only makes the database credible, but also makes the blockchain a time machine that can be restored to the record on the chain at any time any database status.

Then there is the way we record data. DAG (directed acyclic graph) is a commonly used data storage structure in the computing. Because of its unique topology, DAG was first used to deal with dynamic programming problems, such as finding the shortest path in navigation, data compression, and other scenarios. In the field of distributed ledgers, the biggest feature is that there is no block, and its consistency is maintained by the transaction itself. Each transaction needs to confirm the previously unconfirmed transaction when it is issued, and is immediately broadcast to the entire network to form a connected data network.

Then, there’s a way we work with data, through Federated Learning. Compared with PISR distributed database, CyberVein Federated Learning is more like a house’s intelligent access control system, which guarantees the security of “properties” in the room. What CyberVein has to do is to prevent the web crawler companies from selling the data of various enterprises, so that the AI models can be trained safely and effectively without data leaving local serve.

Segment 2, Q4: What are the special advantages of CyberVein using blockchain technology? Can you explain how the value of the token is bound to the value of CyberVein Basically, what is the motivation for token holders to hold tokens? from @OsvaldoAnderso

Pavel: For sure! Bear with me

Our token signifies the development of our ecosystem. We have done a lot since the beginning of this year, which has resulted in the price movement of 1100%. The token is also the main payment tool for entities and individuals who are committing their resources to the network. In other words, once you commit resources, you will get paid in CVT.

The token will also be the main currency for companies who are joining the DAVE initiative. We hope to use the token as a payment method in the Aerospace city in Hainan. The motivation should be to buy, hold and trade, becuase you believe in the project and believe in the team. CyberVein is set to interconnect the data that runs the world.

Segment 2, Q5: Why does the Medical Industry require data on the Blockchain, isn’t it similar to data on centralised data servers? About the benefits of your product, I am not sure how it can improve the accuracy of doctor diagnosis. Can you explain? from @Sarpbilginer132

Pavel: A complex one, which I already tried answering, but let’s begin

CyberVein proposes a federated learning workflow for medical research, which can effectively transfer the knowledge learned by the model on different distributed data to ensure the federated learning performance. And the method of knowledge distillation is used to effectively reduce the gradient of transmission and save huge communication overhead.

The decentralized features of the blockchain and the decentralized federal learning algorithm effectively protect the security of communications and computing. Regardless of whether it is static data or dynamic data, under the premise of satisfying data privacy, security and regulatory requirements, CyberVein’s Federated Learning design a machine learning framework to use their data together more efficiently and accurately.

In the end, it’s not about the diagnosis, but about data security, effiency and speed. We want doctors and medical insittutions to get the most of out of their data.

You are awesome, thanks for answer all 5 best questions from twitter of my community.

Last Segment for AMA today, Mr. Pavel will select 5 best questions from the community

1. Why does Cybervein still use Ethereum blockchain while it has a slow speed and high gas fee?Do you have any plans to launch your mainet or convert to other blockchains in the future?

Pavel: We meet again, Lucky Cat!

We are very close to mainnet. Effectively, it is built, we are in the process of deploying it, so stay tuned!

2. Which area are you focusing on at the moment? (DeFi, Stake,Dapps..) and what is your goals in this year ?

Pavel:

Our goal this year is to focus on rolling out the DAVE initiaitve and getting more projects on board. We should have good progress before the Chinese New Year

3. How do you plan to spread your understanding of the project in different countries where spoken English is not good like me?

Pavel:

We have different communities across different countries with local Country Managers (CMs) doing the Lord’s work. We organize meetups, both online and offline

4. Most people learned about the name CyberVein project relatively recently. What are the biggest obstacles to adaptation of this solution (product)?

Pavel:

Thank you Berniece. This is predominantely due to us building things and collaborating with large corporate entities

Our community is going strong though, tens of thousands of traders across many, many countries and growing!

5. I am a big fan of CyberVein token. My question is how CyberVein token will stands tall in such CyberVeinetition of new technology and platforms ? How you impress and attract new investors in CyberVein world

Pavel:

We continue to build great things and get more companies on board with our DAVE intitative. That’s the only way. Continusly innovate and stay ahead of the curve

Thank you for joining today AMA! It was awesome! Would you like to address the community before we open the chat? 😉 @paveljakovlev

Pavel:

Thank you for having me

Wonderful community you have here! Not too big, but super engaged. Love it!

Keep up the good work

Our AMA session is now over !!!

More information about CyberVein

Official website: https://www.cybervein.org

Twitter: https://twitter.com/CyberVeinGroup

Global Telegram Group: https://t.me/CyberVeinCommunity

VietNamese Telegram Group: https://t.me/CyberVeinVietnam

Facebook: https://www.facebook.com/cyberveinteam