Bolt AMA Recap

Bolt AMA Recap

CryptoDiffer team

We are glad to meet here:

Jamal Hassim (@JHAS_CEO_BOLT) Founder/CEO at Bolt

Christel Quek (@Ladyxtel) Co-Founder/COO at Bolt

Davos  (@Davoscryptos) Bolt Community Manager

CryptoDiffer team

Q1. Can you introduce yourself to the community? What is your background and how did you come to the idea to create your project?

 

Christel Quek
COO

Hi everyone! Jamal (@JHAS_CEO_BOLT) and Christel here, and we are the Founders of BOLT. BOLT is an ecosystem of services designed for the next 6 billion, with two existing products – BOLT+ (A live, mobile TV global network) and Pegasus, a gateway for token transfer, storage and redemption for other goods and services. 

Our mission is to decentralise the chain between users and producers, in a vision to be largest mobile wallet in the world, powered by content.

Prior to BOLT, Jamal used to run broadcast networks across Asia and Africa, including an airline in his previous life! He also has extensive experience across corporate finance in PriceWaterHouse Coopers, and did his BA in law. 

Prior to BOLT, Christel was previously the Head of Content at Twitter and the VP of Asia for a data company called Brandwatch. She was also nominated as “Forbes 30 Under 30” in 2019.

We are proud of our team and what we have managed to build together in a very short span of time. BOLT is run by a proven network of digital strategists, venture builders and media veterans from some of the biggest companies in the world including Facebook, Coca-Cola, PayPal, Samsung, and Twitter. We have over 30 team members across 15 nationalities, in our physical offices in London, Singapore, Nairobi and Kuala Lumpur.

 

CryptoDiffer team

Q2. Can you briefly describe what is Bolt in 3-5 sentences? What technology stands behind Bolt and why it’s better than the existing one?

Christel Quek
COO

BOLT is an ecosystem of services designed for the next 6 billion, with two existing products – BOLT+ (A live, mobile TV global network) and Pegasus, a gateway for token transfer, storage and redemption for other goods and services. 

BOLT has launched BOLT+ on Web, iOS and Android, which comprises of over 30 live TV channels, over 70 radio channels and coverage of sporting moments. The coverage in 2019 on BOLT+ includes the Rugby World Cup 2019, Cricket World Cup 2019, Africa Cup of Nations 2019, Tour de France 2019, Copa America 2019 and the FIFA Women’s World Cup. Users get to also enjoy match highlights from their favourite football leagues including the English Premier League and La Liga. We also have curated programming across popular genres in Food, Humour, and Inspirational Profiles. We have extensive partnerships with some of the biggest companies in the world, including Rakuten, International Cricket Council,  Bytedance, and Hisense. 

BOLT has some unique features for users

– Timeliness of content, ability to stream live events and round-the-clock live TV viewing (over 30 live TV channels and 80 radion channels)

– Extensive coverage of both global and national live TV stations (currently 30 in total) which are available to watch on mobile (a segment that is vastly untapped – we are one of the few platforms that will allow users to watch live TV on mobile)

– Proprietary wallet system and our own token, which can be used by sponsors and users in multiple use cases, across borders. No other content platform has a proprietary wallet system like ours, with an option to extend partner promotions and redemptions into our wallet ecosystem. 

– Coverage of sporting league highlights and material leading up to the matches, within an hour after broadcast.

– We do not license movies or produce our own theatrical productions due to high production cost and slow turnaround time.

– However, we have begun a pilot with Viki Rakuten to stream leading Korean dramas on the platform. The integration can be seen on our web application (http://live. bolt.global/)

– Our original productions, “BOLT Interactive”, focuses on the interactivity and gamification of sports match highlights, starting with football and cricket.

– Proprietary technology to stream live TV channels and videos at low bandwidth without compromising on quality (200mb/hour in HD vs 3GB/hour on Netflix)

 

CryptoDiffer team

Q3. What are the major milestones you have achieved so far?

Christel Quek
COO

Blockchain: 

(i) Integration for the Binance Blockchain and Zilliqa blockchain (in development) into our backend technology stack;

(ii) Proprietary token swap and modular smart contract system powered by Scilla (Zilliqa’s smart contract programmable language). To date, we have programmed and are working on integrating 5 different smart contracts, including exchanging BOLT for other tokens (e.g. Binance Coin), Exchanging BOLT for Premium Content, Exchanging BOLT for Mobile Data Plans, Exchanging BOLT for Advertising Inventory, Content Creator Payout using BOLTs based on videoID and tracked views/engagements;

(iii) The BOLT Token issuance, which exists predominantly on the Binance Chain (over 1,731 addresses and 67,508 transactions), and Ethereum (3,547 addresses and 22,885 transactions);

(iv) The Pegasus mobile wallet with multiple token holding capabilities including BOLT and Binance Coin;

(v) Android hardware integration (first hardware/Smart TV integration is with Hisense TVs globally as three different content streams, including our own linear channel and a HTML5 application);

(vi) Listing the BOLT Token on Bitmax, Kucoin, and Binance DEX (official exchanges)

(viii) BOLT Staking system. A game of skill and prediction where users can stake their BOLTs and participate in a football-themed game where they can predict the winners of popular football matches and key moments during the game. Winners will win BOLTs and incorrect answers will forfeit the amount of BOLTs that is staked.

Content Production and Ecosystem:

(i) Community content production network and ecosystem;

(ii) 3D production capability using an internal gaming engine and 3D rendering system (in development);

(iii) Interactive football league (i.e. fantasy league) system (in development);

(iv) Live TV streaming methodology covering from satellite downlinking / IP feeds, trans-rating for adaptive bitrate (decoder and encoder), followed by ingesting (WOWZA, Stream Logs, HLS) and broadcast (Cloudflare, AWS)

Some sample sponsors that have started work with us this year:

– Helo/Bytedance (parent company of TikTok) used BOLT’s original cricketing content to engage with users in India during the Cricket World Cup 2019

– Vodi integrated BOLT into their application for their users to “spin and win” during the Cricket World Cup 2019

– Hisense is pre-installing BOLT+ into devices in South Africa to increase their unique content offering and positioning vs other devices in South Africa

– We are currently building an active pipeline of brands who are able to leverage the unique proposition of BOLT+ and Pegasus. 

Take a peek at how BOLT X Rugby World Cup is playing out across our digital communities last week:

More than 4 million impressions

Nearly 320,000 post engagements

More than 200 RWC videos uploaded onto BOLT+

BOLT Data:

4.4 Million users worldwide

Over 300k+ downloads on our apps and growing rapidly

 

Cryptodiffer Community

What is the main reason Why you Choose to Build on Zilliqa Platform ? Why not other Platforms such Stellar  , Ethereum  and   Bep Binance  ?

 

Christel Quek
COO

We are currently a BEP-2 token, most of our users have migrated successfully from ERC-20 to BEP-2.  Currently all the active changes where we are actively supporting are trading on our BEP-2 issuance; namely Bitmax, Binance DEX and Kucoin. We will have a ZRC-20 Issuance on Zilliqa chain for purposes of using Scilla (Smart Contract processing).  Users can then swap their ZRC-20 version of the BOLT token seamlessly for the BEP-2 version for liquidity and trading on exchanges. We are currently scoping out a partner portal which could implement this seamlessly. We’ll announce timelines and plans when they are more firmed up, likely towards the end of the year. Zilliqa has a robust smart contract paltform which we wnat to utilise.

 

Cryptodiffer Community

Hello BOLT Team. 

1. There are many other fastest chain in Crypto Space. Why BOLT has Choosen Zilliqa? What are the advantages to BOLT using Zilliqa Chain? 

2. There are many projects like, VideoCoin, VidyCoin ETC are working on same concet. Why you think you are better than your compitiors ? 

3. Bold wants to be largest mobile wallet that is

powered contents. India is one of biggest democracy in the world. Do you have any plan to expand BOLT Platform there?

Christel Quek
COO

Answers to respective questions as follows:

1. Speed and Scalability without compromising on Security

2. We have a ready partner ecosystem, our own wallet, and content from the biggest sporting moments in the world.

3. yes, we are in talks with local partners now

Cryptodiffer Community

What are our advantages compare to traditional media?

Christel Quek
COO

– Timeliness of content, ability to stream live events and round-the-clock live TV viewing

– Extensive coverage of both global and national live TV stations (currently 30 in total) which are available to watch on mobile (a segment that is vastly untapped – we are one of the few platforms that will allow users to watch live TV on mobile)

– Proprietary wallet system and our own token, which can be used by sponsors and users in multiple use cases, across borders. No other content platform has a proprietary wallet system like ours, with an option to extend partner promotions and redemptions into our wallet ecosystem. 

– Coverage of sporting league highlights and material leading up to the matches, within an hour after broadcast.

– We do not license movies or produce our own theatrical productions due to high production cost and slow turnaround time.

– However, we have begun a pilot with Viki Rakuten to stream leading Korean dramas on the platform. The integration can be seen on our web application (http://live. bolt.global/)

– Our original productions, “BOLT Interactive”, focuses on the interactivity and gamification of sports match highlights, starting with football and cricket.

– Proprietary technology to stream live TV channels and videos at low bandwidth without compromising on quality (200mb/hour in HD vs 3GB/hour on Netflix)

Cryptodiffer Community

What are the main Contents that i can watch on BOLT+  and How will you compare the Quality of contents of your platforms to another Platforms?

Christel Quek
COO

live TV, radio, sports highlights and bolt interactive, our take on overlaying stats and player line ups to sports highlights.

Cryptodiffer Community

BOLT technology was born to solve what problems? Is your market really potential?

Christel Quek
COO

We wanted to bring great content that was informational, uplifting and localised for emerging markets. We wanted to ensure that such content would also be interactive, bandwidth friendly, and accessible on Mobile. We wanted to give people access to the content they would find meaningful, while allowing creators to get rewarded by virtue of the BOLT ecosystem expansion — without the complexities of share issuances- and provide insulation against the fluctuation in emerging market currencies. 

 

So we built BOLT as an ecosystem on the Blockchain to provide an in-ecosystem store of value which increases as utility increases. We built BOLT on a core set of values centered around transparency, collaboration, and innovation. These values drive how we work with our community and how we engage with our users. We believe that BOLT can be a win-win for creators and users to mutually unlock value by participating equally in the ecosystem- whether by contributing a news highlight from Tanzania or subtitling a Korean music video into Bahasa Indonesian. BOLT users can accumulate the BOLT tokens to be used within the ecosystem, or exchange it for other popular tokens which can be bartered in their respective fiat values.

 

Cryptodiffer Community

BOLT has so many outstanding features which offer exclusive user access and allow content creators to be compensated fairly. But, do you have real users and partners that use your services and what marketing strategy do you have to draw new users as without marketing no matter how good the product is nobody cares?

BOLT is an official media partner of the 2019 Rugby World Cup. Starting September 20th. What has the feedback been from the community and what major updates do you have plans for?

Christel Quek
COO

Great question here! We have over 4M users and a robust partner ecosystem which you can see in this picture below

Cryptodiffer Community

What about  regulations, does that effect the way companies have  to use the platform? If a company is based in a regulated country, can they still use the platform ?

Would you be able to tell us what your plans are beyond the release of  new platforms? What can we expect in the next 5 years?

Christel Quek
COO

That is why we have intentionally separated the BOLT+ and Pegasus Wallet apps as separate apps with separate branding should regulatory issues occur.

 

Cryptodiffer Community

What about  regulations, does that effect the way companies have  to use the platform? If a company is based in a regulated country, can they still use the platform ?

Would you be able to tell us what your plans are beyond the release of  new platforms? What can we expect in the next 5 years?

Christel Quek
COO

Roadmap – we have some very exciting stuff planned, including a deeper partnership with Hisense, continued development of BOLT Interactive, and to evolve the Pegasus Wallet into a marketplace

 

Cryptodiffer Community

Q.Are you more focused on research and coding, or on sales and adoption?

Christel Quek
COO

Has to be both in parallel

 

Cryptodiffer Community

When will the products be expected to go live and what’s your plan to attract users to the platform?

Christel Quek
COO

They are already live

Cryptodiffer Community

Q:As it is said “PRIVACY IS A MYTH/JOKE”. How Serious are you at #BOLT about PRIVACY??

Christel Quek
COO

Very serious, we don’t intend to share user information for advertising

Cryptodiffer Community

Q:Your metamorphosis is commendable, how can you survive this longest bear market and continue to build and develop because many projects have been edited this time, what are the main strengths that you used to achieve this milestone?

Christel Quek
COO

Thank you very much for the kind words. We have had to build, innovate and stay sane in a very challenging marketplace where our supporters and detractors are almost equally matched … but we are passionate and motivated to build something bigger than ourselves

Cryptodiffer Community

How you guys choose a video from creator to officially release on Bolt  platform If in case of bad or offensive video content. What kind of Video and which feature will be considerd?

Christel Quek
COO

we are developing a partner portal to let our internal team review suggested content before it is posted

Cryptodiffer Community

In the digital content industry, attracting users is very important, so what is the strategy for BOLT to develop the community? What is the target of the number of users until 2020?

Christel Quek
COO

We want to get to 10M users by next year. Olympics 2020 is a huge event for us

Cryptodiffer Community

What do you think about MovieBloc? How you acquire new user? and how you can convince them to use your service by BOLT Token?

Christel Quek
COO

Organic growth and acqusitions

Cryptodiffer Community

How big is your addressable market and what are the future growth potentials?

Christel Quek
COO

The world is our oyster. We know that to succeed as a company and a movement we need to be unrelenting in our mission, focused in our planning and flawless in our execution. Everyone who partners with us — investors, employees, users, the creative community —are integral in our goal to achieve our mission with the highest standards possible.

Cryptodiffer Community

Can you tell us the motivation and benefits for investors to hold BOLT token long term? What plans do you have to help drive demand and scarcity for the token?

Christel Quek
COO

staking and utility. we are introducing bolt stake very soon (internal testing now)

1. BOLT Stake: A game of skill and prediction where users can stake their BOLTs and participate in a football-themed game where they can predict the winners of popular football matches and key moments during the game. Winners will win BOLTs and incorrect answers will forfeit the amount of BOLTs that is staked. We have covered the progress of BOLT Stake extensively in this issue of BOLT Vault and we welcome our community to give us feedback and get ready to join our waiting list. @DavosCryptos can coordinate with our Head of Operations @lynnIM

2. Sponsorships and Partnerships: Incentivising tokens to be purchased by our sponsor partners and leveraging strong cross-marketing with present Partners. We have a strong partner ecosystem. Now that BOLT+ and Pegasus have launched, we are looking to start expanding and testing that with key partners in our ecosystem.

Cryptodiffer Community

Q: What consensus algorithm does #BOLT use and how was it selected? What’s being done to ensure price stability and drive global adoption at all levels??

Q: What are the key attributes that have made #BOLT what it is today and where it will be in the future? @ladyxtel

Christel Quek
COO

We are currently a BEP-2 token, most of our users have migrated successfully from ERC-20 to BEP-2.  Currently all the active changes where we are actively supporting are trading on our BEP-2 issuance; namely Bitmax, Binance DEX and Kucoin. We will have a ZRC-20 Issuance on Zilliqa chain for purposes of using Scilla (Smart Contract processing).  Users can then swap their ZRC-20 version of the BOLT token seamlessly for the BEP-2 version for liquidity and trading on exchanges. We are currently scoping out a partner portal which could implement this seamlessly. We’ll announce timelines and plans when they are more firmed up, likely towards the end of the year.

Price stability and adoption has to come from massive utility. we will be focusing on driving more utility use cases for the upcoming year (starting with the first launch end of this month) so that we can see price stability and suitable appreciation

Cryptodiffer Community

One of the biggest issues for dapps is onboarding. What solutions have you found to try to resolve this problem?

Christel Quek
COO

We have over 4M users now and 300K+ downloads so we should be ok. But we always do A/B testing

 

Cryptodiffer Community

There is a lot of startups, investment and innovation in various cryptocurrency and blockchain technologies. What is the low hanging fruit and who’s playing the long game against regulatory institutions?

Can you please highlight more on the decentralization aspect using your technology. Also in the future, is it possible to quantify the level of decentralization and economic incentivization?

Christel Quek
COO

I think we have to create love for our product and inspire users to want to use it, not because they have to use it. that’s why rapid innovation internally is key. we do our development and research in house

Cryptodiffer Community

Accoding to bolt management, what is the competitive advantage or sources of competitive advantage you guys have which will drive project success in near future?

Christel Quek
COO

At BOLT our core mission is to decentralise the chain between users and content. Some of the key innovation and execution in this area which we have undertaken and executed successfully – where many other media companies, despite raising over $200M and upwards have not done, include:

1. Live TV streaming on mobile, a key niche area which has mass potential. We are one of the very few (if not only) live TV applications available on the iOS store. Apple does a strict app approval process for all content licensing companies and they have gone through every single Live TV license we have, to ensure that we are compliant with copyright issues.

2. The innovation around creating our own 3D replays of football leagues and cricket world cup. We are able to serve the animated highlights, including statistics, player line-ups and key match points for EPL and La Liga within an hour after the match broadcast. We intend to create more IP around this content segment and also license this out to other broadcasters in the future. Some IP we are intending to create around this will also include community commentary and the continued development of our own gaming engine. 

3. The tokenisation model and therefore, the creation of a new economy of redemptions thanks to the tokenisation of user attention. We are the only media ecosystem that has a ready wallet and our own token for deployment. We have over 5 active markets and 10 trading pairs, at a 24H trading volume (on average) of USD 2M a day. This is without the mass deployment of our intended utility for the BOLT token across BOLT+ (our video application) and Pegasus (our wallet).

Cryptodiffer Community

Do you have any plans to attract non-crypto investors to BOLT , and how? What are the actions to increase awareness around BOLT in non-crypto space?

Christel Quek
COO

Yes that is our main focus, hence the ease of use of the app and we built two apps with a bridge linking them, instead of a super crypto app

Cryptodiffer Community

How many members are there in your team? What qualifications are required for future new members who want to be part of your team

Christel Quek
COO

BOLT is run by a proven network of digital strategists, venture builders and media veterans from some of the biggest companies in the world including Facebook, Coca-Cola, PayPal, Samsung, and Twitter. We have over 30 team members across 15 nationalities, in our physical offices in London, Singapore, Nairobi and Kuala Lumpur.  https://bolt.global/about

 

Cryptodiffer Community

What have you learned from early versions of the product or service? What are some of the major roadblocks along the way?

 Currently, what are risks affecting the BOLT project? In order to develop project in long term and attract investors, which method do you use to manage, minimize the negative impact of risks? I mean that, what are the risks and how do you deal with them?

Sharding, layered, and cross-chain are the three future solutions for high-performance blockchains. BOLT is currently at which direction? And what are the main reasons for taking this direction?

 The biggest dilemma as of now in crypto is volatility and liquidity issues. What steps have been taken by BOLT to overcome it?

All current projects are concerned with the speed and quantity of transactions. Old projects have also improved their network. So what else does BOLT need to bring to investors?

In addition to Binance, will BOLT plan to list the top 10 exchanges on other CMC?

Christel Quek
COO

We have learnt to take data seriously. For example what we found very interesting is that many users love coming in to watch our live TV channels and leaving it running – it also shows our data compression and usage is very efficient. So we are looking at how we can implement more ideas around looping across our product.

BOLT token has to be driven by utility

I cannot comment on exchange listings guys u know the rules:)

 

Cryptodiffer Community

To build a big amount of loyal users/customers for BOLT will not be easy since traditional video content platform/ Trendy video highlights have certain bases of market/users already. How will BOLT attract more users in this race? How will your team make people open BOLT each time they want to watch video instead of opening centralized video services?

Christel Quek
COO

We create and serve our content (text, images and video) on our core app and our social media channels (over 3M fans now across multiple pages). We use the content on social as a teaser/hook to bring users into our core application to sample the main content offering;

We also use our content/ambassador/influencer network to bring their community to become users on BOLT, using the BOLT Token as an incentive for them to do so. this save us from expending cash to achieve the same effect/result

Direct Response oriented Marketing:

Enable an effective marketing funnel

Re-target users with different content marketing ads that educate, inform and entertain the user on their way to downloading BOLT+

Example: Users who engaged with content but did not convert will be served a ‘Benefits of a FREE Sports pass’ Ad. Includes features like Curated content and LIVE TV

Audience Sharing Facebook

BOLT as Joint Admin of popular pages or partner pages, such as Hisense South Africa for the upcoming co-marketing opportunity between Hisense and BOLT. Re-target Ads to their audience base

Proposition to encourage pages/partners to enable Audience Sharing. EG: Helo/Bytedance

Promoted before and during competitions

Social Media assets, including cover images and CTA buttons

Retargeting:

Email Journey: Triggered emails

New pass holders get; “Welcome to BOLT+” Email and ‘What’s coming up on BOLT+’ monthly email

WhatsApp Business

Regular Content Marketing Messages

‘What’s coming up on BOLT+’ monthly WhatsApp message

Optimisation (Based on Q3 Tactics ‘Sports Pass’)

App Store Optimisation. 

Website Optimisation

Offline

Free Pass handed out offline, ‘ticket’ flyer at offline events with Partners

Partners/ Digital Distribution Partners/ Influencers:

Partners sponsor the Pass, ‘Sponsored by Hisense’. ‘Sponsored by Helo’ 

Localise based on market & popular team in market. Eg: Partner in Kenya sponsors ‘Full Liverpool Pass on BOLT+’. Hisense sponsor ‘Rugby World Cup 2019’ Multiple sponsors per pass type.

Micro influencers. Free passes to give to their followers

Live TV specialised targeting and marketing:

Multiple TV channels promoted to showcase ‘world in your hand’. 

Integration with Hisense through 3 streams: a BOLT linear channel, integration of content into Hisense’s live TV application, and our own BOLT+ application on the smart TV.

Best curated selection on LIVE TV Channels to ‘change your day’, delivered across social media channels, email, and Whatsapp.

Blinkist angle for LIVE TV. ‘Promote the LIVE TV playlist channels. ‘Today learn about Football, News’ 

Retargeted with local channels

Local One channel promoted to hyper local target audience

Retargeted with global  moments of strong interest (e.g. Olympics, Cricket World Cup) and hyperlocal moments

 

Cryptodiffer Community

At the beginning BOLT decided to built on ZIL platform then changed to binance chain. That means you have to do everything all over again. What is the reason for that?

Christel Quek
COO

no, we are first erc20, we migrated to bep2, and we have another issuance on zil. tri token structure. very common these days

Cryptodiffer Community

In the crypto field, it’s very hard for projects to generate revenue/profits, some projects have a 10% dev share(10% from transaction fees taken by the project), can you explain to us in what way that  BOLT   creates revenue/profits?    

BOLT   community groups currently have very few participants. So, does Bolt  have any plan to attract the community yet? And how will it be done? When will Bolt implement its community engagement plan? Does Bolt target the community from Asian countries like Vietnam, Thailand or just neutral plus European countries?

Christel Quek
COO

Yes we do. We have the database of users and existing telco partners where revenue is derived from. We will work with the telcos to do so through cross-marketing, re-targeting and joint promos. There’s a lot of coordination work to be done here.

Our community groups on FB for example are about 3M users. we have multiple pages – cricket, korea, live sports, etc

 

Cryptodiffer Community

What is the goal for the utility of the token and does the success of the business depend on the successful adoption of the token

Christel Quek
COO

That people won’t think twice in using the token – as seamless as breathing really

Cryptodiffer Community

What is the goal for the utility of the token and does the success of the business depend on the successful adoption of the token

Christel Quek
COO

It will be one of our sources of success but a key one. We will be the first global ecosystem to have a wallet, a token, and a content platform. imagine the possibilities. right now we are ensuring the bridge will work and it is built well.

 

Cryptodiffer Community

I  have followed your project for a while but some concerns about it: Your project gonna build your own main net, so that do you have any more more prominent than Ethereum and NEO. They are projects that were born before and also have a very large community. And what makes you sure your project will ensure the features you’ve set out?

Christel Quek
COO

We don’t have any plans to build a main net 🙂 we are already on bep2, eth, and zil

 

Cryptodiffer Community

Have you considered adding the likes of major coins like bitcoin and so on to the pegasus wallet with a exchange feature?

If you could exchange directly from bolt to bitcoin within pegasus, then bolt could be a gateway for the unbaked to buy bitcoin through telcos using you as a middle man. Plus users could then receive bitcoin in pegasus and exchange it for bolt to use in the bolt+ app.

Christel Quek
COO

Yes absolutely. Pegasus will be a multi-blockchain wallet. Jamal and I have a vision that one day we will walk around and see different people using our products. That’s the goal!

 

Cryptodiffer Community

I know the current crypto market is causing everyone to FUD, but I just wanted to say that you guys are doing a good job of keeping to your dev schedule. Would you be able to tell us what your plans are beyond the release of the new platform? What can we expect in the next 5 years?

Can you please highlight more on the decentralization aspect using your technology. Also in the future, is it possible to quantify the level of decentralization and economic incentivization?

Christel Quek
COO

Thank you very much, we are trying our best to ensure we will develop and implement promptly and securely.

Plans: Pegasus to become a marketplace, more utility cases beyond BOLT Stake, stronger adopton through Hisense

 

Cryptodiffer Community

Users will pay for services in bolt –> what will happen after that, the platform will convert them all to fiat at that time or wait for when?

Christel Quek
COO

It’s within a circulating supply. So the user pays with BOLT either to the content creator per se. I don’t think users have to pay BOLT directly. We will only charge a small transaction fee

 

Cryptodiffer Community

Why you choose Telcos for Micro-transaction and its advantages ?

Christel Quek
COO

Telcos are the gateway to the world in so many markets. More people have internet on their phones than bank accounts. 

Just imagine that, that is our goal – and how we can bring them onto BOLT – and as Jamal said, implement Blockchain invisibility.

 

Cryptodiffer Community

1-Bolt is constantly finding new big partners.Audience is constantly growing.What’s the secret to this growth rate?

2-Binance dex has the highest volume.Use of the app anywhere in the world. Active work of the team. Do you think we could be among the top 20 tokens in the future?

Christel Quek
COO

Thank you for the kind comments. We believe success is never final since good work is never finished, and failure is never a waste since there is always a lesson to learn. We just got to keep knocking on more doors and build bridges instead of breaking down walls. The whole purpose of decentralisation was to build an ecosystem that would be bigger than one entity or individual. Jamal and I can’t wait to see what the future of BOLT will be in the next 5 – 10 years. we didn’t start BOLT to just be top 500 on CMC. 

Our goal is way up there 🙂 but with time we will get there. Wont happen overnight, just like the sturdiest trees don’t grow in a day.

 

Cryptodiffer Community

Recently Aphelion exchange out of funds, and paused development —–What about BOLT?

What is your strategy to take on the fund crisis in this nuclear winter?

Christel Quek
COO

We are in the middle of an equity raise now to raise funding to propel growth. Our normal business operations is cash flow positive. But to grow more aggressively, we need a strong backe

 

Cryptodiffer Community

What role does your Partners play in Enhancing your platform? what are your upcoming partnerships?

Christel Quek
COO

Can’t talk about upcoming partnerships, but look out for what we will do with Bytedance and Hisense. It seems that we have great working synergy with chinese companies

 

Cryptodiffer Community

Where do you see your BOLT product actually used for solving the real world problem?

Christel Quek
COO

The key point here is that payment gateways are local in nature, not for Global Scalability. Integrating such gateways often requires significant tech and implementation investment (per telco, per 3rd party partner, per market, which brings up to almost 4-5 options per country). This limits global deployment and rapid scalability for any solution provider

Furthermore, we want to allow more content/service developers to monetise. Thousands of creative content producers have trouble monetising their content and to be able to operate in an independent and sustainable manner. The result is that users can choose how the platform operates for them – they can be contributors or consumers, but the super-profits currently earned by centralised social media platforms will not exist. The value exchange in the BOLT ecosystem is entirely among network participants.

 

Cryptodiffer Community

What are the future roadmap of Bolt coin in next 5 years?

Christel Quek
COO

1. Product – More features/partnerships to retain value and engagement within the BOLT ecosystem

Major tentpole events including cricket world cup 2020, olympics 2020, euro 2020

More utility cases beyond BOLT Sake, and aggressive push of BOLT Stake

We also intend to introduce our own live TV channels, live radio channels, and onboard more content from popular e-sports leagues.

Live TV channel enhancements such as scheduling and notifications

2. Partners – Innovation and Revenue

Trialing our first smart-contract enabled content creator payouts system

Beta-testing our Partner Portal, for Sponsors/Content Creators to manage their advertising inventory or smart contract enabled playlists on BOLT+

Progressing our Hisense partnership beyond phones

Working on more innovative sponsor campaigns

Trialing our first mobile data plan for token redemption within Pegasus Wallet

 

Cryptodiffer Community

When will deposit be opened on kucoin and bitmax?

Christel Quek
COO

Very soon, i get so many messages a day, trust us we want it opened soon

 

Cryptodiffer Community

There is very little news from the Korean Telegram Community Room.Can’t you activate it?

Christel Quek
COO

Yes we are looking for a new Korean community manager. Feel free to let us know your recommendations. @Davoscryptos can you follow up?

 

Cryptodiffer Community

With many blockchain projects and cryptocurrencies out there, what do you think will distinguish the ones that create true impact?

Christel Quek
COO

It isn’t a cliche but impact has to come from sheer drive and the heart. That will separate the real movements from the temporary fireworks in the space. For us, being a part of BOLT is also being a part of our movement to build a better world together —  in empowering creativity, and delivering a flawless, immersive experience for our users. We firmly believe that in the long run, these priorities will provide greater returns to all our stakeholders. We know that to succeed as a company and a movement we need to be unrelenting in our mission, focused in our planning and flawless in our execution.

 

Cryptodiffer Community

A bulk majority of any crypto community’s key focus is on the price of the token. When prices rise, community rejoice and grows, when fall, many people start throwing negativity. How is Bolt going to address the issue of negativity when prices fall? What are your plans to strengthen and grow the community to persuade more individuals to look at the product rather than just the price?

Christel Quek
COO

We have to build a community where it is a healthy mix of advocates, traders, and spectators. It’s a balancing act amongst three groups. Not one group can thrive without the other.

 

Cryptodiffer Community

1) You mentioned getting partnerships done last year, in 2018, during a heavy bear market. Bolt continued to create new partnerships throughout this year as well, as the market looked more bullish and sentiments were more positive. So the question is, from your experience, is it harder to bring investors on board during a bear market or during a bullish/uptrend market?

2) People tend to underestimate it, but how difficult was it for you, as a newly founded company, to get licensing for the content you’re featuring?

Christel Quek
COO

1. We bring the right kind of investors during a bear market. That’s what Jamal and i have observed. If they can be with us when we weren’t much, you can be sure we will pay them forward in more ways than one when the time comes.

2. It is very difficult to get the right kind of partnership. if we did a $100M ICO it wouldn’t have been an issue, just that we raised 10% of that amount. Content licensing is about paying. Strategic content partnerships need a lot more negotiation and seeing where we can add suitable value to each other

 

Cryptodiffer Community

There are many ways in which User’s can earn BOLT ( like view content )  What about Security like User creates many Fake Accounts  to get views and all  ? How you will stop this  ? Or if need KYC  then they can use fake ID’s that they purchased from Hackers  ?

Christel Quek
COO

Yes we will have measures in place to stop this, such as multiple identity authentication, IP checks etc, and maybe chain analysis

 

Cryptodiffer Community

Tell me the reason why I should choose your exchange platform instead of existing ones like Bitmex or Binance? What is your exchange’s advantage that can convince me to change from my favorite exchanges?

Christel Quek
COO

We aren’t an exchange. But we do envision Pegasus to go from being a wallet to something more.. a real global marketplace

 

Cryptodiffer TEAM

Guys! thanks for your answers!

Community thanks for questions! It was really interesting

Thank you for taking your time!

It was pleasure to host an AMA with Bolt!

Christel Quek
COO

Thank you once again to the team at cryptodiffer for organising and hosting us and our admins for joining us today! and most importantly the community for the rapid questions!

 

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CryptoDiffer Admin
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