RiveX Gcrypto AMA Recap

Rivex Gcrypto AMA Recap

Gcrypto team

We are glad to meet here:

Alen Ng (@AlexNg89) Co-Founder at Rivex

Aljaž Tišler (@ATisler) CMO at Rivex

Lyam van Zyl (@LiamvZ) Global Community

Aljaž Tišler
CMO at Rivex

Hello people from G.Crypto community 👌🏻 My name is Aljaz and I am the CMO at RiveX. Today I will be here to help with the flow of AMA session with Mark and Alex.

Alen Ng
Co-Founder

Hi everyone, I’m Alex, CEO and Co-Founder of RiveX. I graduated from a local Malaysia University with Bachelors degree in Electrical and Electronic Engineering. Prior to launching RiveX, I served as a systems administrator and systems engineer at Dell for 5 years. My passion in blockchain or distributed ledger technology is what led me to start RiveX as I want to build a solution that can bridge the gap between the centralized and decentralized space.

Lyam van Zyl
Global Community

Hello G Crypto community! My name is Liam, I got into the crypto space in early 2016, and have been passionate ever since. I currently work for Wanchain as the community lead for Africa and I am the global community lead at RiveX. I am here today to assist Mark, Alex and Aljaz with the AMA session. Goodluck and have fun!

Gcrypto team

Can you briefly describe what is Rivex in 3-5 sentences? And what is your Mission and Vision?

 

Alen Ng
Co-Founder

RiveX created as we envision to be the bridge between centralize and decentralize space via our hybrid chain solution. RiveX tagline is Layer 2 Blockchain as a Service and we want to build a scalable layer-2 on-chain and off-chain solution on Wanchain protocol and private chains. We would like to combine the strength and virtues of both public chains and private chains to empower a scalable enterprise economy and decentralized finance.

 

Gcrypto team

Why did RIVEX  decide to build a crypto lending platform when the value of cryptocurrencies is always volatile?  Are there many challenges and risks?

Aljaž Tišler
CMO at Rivex

We are not building a Lending platform. Please check our whitepaper at Rivex.io

 

Cryptodiffer Community

Rivex done first  partnership with Wanchain.

In future any plans for any partnership with any one.

What will be the advantage of Storage and file sharing services provided by riveX as compared to competitors?

 

Lyam van Zyl
Global Community

There will be many more RiveX partners in future. RiveX is building enterprise solutions so partnerships are important.

Decentralized cloud storage has many benefits over centralized solutions. Some of these include lower costs, more privacy and security, less prone to downtime and data breaches etc so it only makes sense to build RiveX solutions around a decentralized solution.

 

Cryptodiffer Community

In whole website, I can’t see about RiveX partnerships ? Who are the major partners of RiveX project and whats the benefits to Rivex of partnerships ?

RiveX projects is works on Wanchain protocol ! But wanchain is works on Layer-1 solution and RiveX is on Layer-2 solution ! Can you explain how ? Is RiveX works on Hybrid Basis ?

 

Alen Ng
Co-Founder

We are actually in the midst of rebranding our official site where once it is release, you will be seeing the current ecosystem partners listed. Wanchain will definitely be on the list. As to others, do stay tune as we will be updating once it is official.

RiveX will not be building another blockchain or release another protocol to the ecosystem but we are building on Wanchain private chain, Lanchain. That is why we are a Layer-2 solution with the capability of what Wanchain public chain is able to perform as we inherited them by building on their protocol. Our solution will feature a hybrid-chain model where client or user can choose to deploy their solution on either as per what their project needs.

 

Cryptodiffer Community

I discovered RiveX has a fairly new concept, Twin Strike, “a special variant of bonus certification that generates a positive return on their investment in either bull or bull market.” So how does it work? Does it guarantee returns for RVX investors?

Aljaž Tišler
CMO at Rivex

Nothing in crypto space is guaranteed so we are not promissing that with twin-strike contracts either. The concept is fairly new to blockchain space and coz of it we will have a blog post explaining what twin-strike is and how can you use it.

Cryptodiffer Community

Q :- What is the Role of Tokens in your Rivex Ecosystem & why do you need Blockchain, if Yes you need Blockchain then why you need Rivex tokens?

Q :- What’s your outlook on the future of Cryptocurrencies and Blockchain?

Lyam van Zyl
Global Community

RVX serves as an incentive model for validator and storage node participants. Application stacks built on RiveX ecosystem can leverage on RVX as a fuel of any decentralized applications.

RiveX solutions need blockchain as we believe enterprises could benefit from the advantages of blockchain technology ie. increases privacy and security

Cryptodiffer Community

Q1: In the future, if you grow more as a company, how will you expand your team members? Also what countries can you prefer for a location ? 

Q2: How have you taken or will be prevented against possible speculation and smearing about Rivex?

Aljaž Tišler
CMO at Rivex

1. We will try to find the best of the best if that will suit our finances. As RiveX team is global we dont have any preferences. Most of our team is from SEA region tho. 

2. We will try everything in our power to stop that from happening.

Cryptodiffer Community

What problems did you face to when trying to implement your product in working businesses? Is it hard to explain to usual non-crypto people what is #RIVEX  and what are the advantages of using it?

What is the token utility in the ecosystem? Where it will be used and why the demand for the token should increase?

Alen Ng
Co-Founder

To common bussiness personal, often time they do not like to listen to how the structure works on backend that is why when we are pitching, we will not be dwelling too much on the tech portion but we actually advise to leave the tech and integration to us as this will foster adoption rate faster. Besides that we are also working in lieu with our lead investor in terms of providing tech and developing poc know how.

 

RVX Token will be needed for development or gas fee however these will be minimal. RVX Token will be mainly use as a form to incentivise our storage nodes and validators nodes provider as well as participation in the products offer under our DeFi pillar.

 

Cryptodiffer Community

What plans do you have to help drive demand and scarcity for the token?

Aljaž Tišler
CMO at Rivex

Demans should follow as we progress with real use cases and real partnerships. Having a great community is our #1 priority 🙂

Cryptodiffer Community

Security/Privacy feature should be the top priority for any organization. How RiveX implementing various methodologies to Validate the participants?

And also to protect the user-data’s privacy??

Lyam van Zyl
Global Community

So xSign offers blockchain-based digital signatures for any type of documents. Enhance your workflow and security of sensitive files, the next-gen digital signature which comes with world class security and privacy.

xBNS is blockchain-based domain name service. xBNS enables engagement between IPFS hashes, smart contracts and wallet addresses.

and RiveX.TV is a decentralized protocol and network designed to create a content-addressable, peer-to-peer method of storing and sharing hypermedia in a distributed file system. Similar to a torrent, RIVEX.TV allows users to not only receive but host content.

 

Cryptodiffer Community

Could you tell me about your existing token system and what unique approach do you apply to bring promising returns to investors,Holders and users?

Aljaž Tišler
CMO at Rivex

We can’t guarantee bit returns, you cant predict a free market. Our aim is to please our investors with product releases and partnerships.

 

Cryptodiffer Community

To build a big amount of loyal users/customers for Rivex will not be easy because many tokens already do it the way you do and have certain bases of market/users already. How will Rivex attract more users in this race?

Aljaž Tišler
CMO at Rivex

We will launch a Quest like Akropolis to brint awareness to RiveX. We are also doing tons or offline marketing in SEA region.

 

Cryptodiffer Community

How does Rivex help individuals and businesses securely store data?

Which businesses are Rivex’s potential customers?  Is Rivex suitable for small and medium businesses?  What benefits will EROX bring to businesses?

Lyam van Zyl
Global Community

Since our enterprise solutions are built on blockchain, enterprise data is super secure. Data is encrypted, split up and distributed across a decentralized peer-to-peer blockchain network. This offers increased privacy and security for sensitive data sets. Any businesses with sensitive data can adopt RiveX solutions.

Cryptodiffer Community

Security/Privacy feature should be the top priority for any organization. How RiveX implementing various methodologies to Validate the participants?

And also to protect the user-data’s privacy??

Alen Ng
Co-Founder

The factors you mention is the same factors we will be considering while designing our architecture model. This has been outline in our whitepaper. As to how this will be achieve, we are in the midst of designing and drafting the technical paper so do stay tune for it. All 3 of the consensus mechanism will play a big part in securing the network as well as provide faster data retrieval rate. We also want user to be using our solution with peace of mind that is the reason why our idea will consist of centralize solution use currently which has proven to work.

Cryptodiffer Community

Canyou explain how RiveX can combine Centralized and Decentralized advantages in the easiest way?

Lyam van Zyl
Global Community

EROX allows for seamless integration with existing centralized solutions giving enterprises the option to choose which data sets are made public and which are made private. This is possible using the RiveX hybrid chain model, giving enterprises access to public and private chains. So to answer your question, imagine a business has sensitive data sets which are critical to the future of the business. Would they want this data to be stored on centralized servers putting all their trust into a centralized authority? Or would they prefer to encrypt this data and distribute it across a decentralized peer-to-peer network where the data is fully secure and not prone to any sort of problems such as down time, data breaches etc.

Cryptodiffer Community

How  Decentralized Cloud Storage is Beneficial ?tell me some of its benefits?

Alen Ng
Co-Founder

One will be there is no single entity that is governing the space unlike centralize cloud storage model thus eliminating the single source of failure. Beside that, from a user perspective, one will not need to worry from the use of your data for monetization issue. However with that say, RiveX strike to co-exist by providing another solution for the masses to choose while deploying their idea or solution

Cryptodiffer Community

Currently most of the personal users use Google Drive to store data, very convenient and free, so why should they use RiveX storage technology?

Alen Ng
Co-Founder

RiveX is also adopting the freemium model to push for adoption from individual perspective. Beside that we are confidence that EroX will exist as an alternative solution that will capture users attention due to the ease of using on a single portal as well as with features like xBNS and xSign which will be able to direct the decentralize space community to be the first mover to adopt our solution.

Cryptodiffer Community

1. If you had to give a  “KEYWORD” to  “Rivex” then what would that be?

2. Also will there be staking Model in future? 

Lyam van Zyl
Global Community

24/7 365  our keyword/s would definitely be enterprise solutions. RiveX is currently running a validator node on Wanchain’s Galaxy proof of stake accepting delegations.

Cryptodiffer Community

Which businesses are Rivex’s potential customers?  Is Rivex suitable for small and medium businesses?  What benefits will EROX bring to businesses?

How does Rivex help individuals and businesses securely store data?

Alen Ng
Co-Founder

Our solution is base on a hybrid-chain model. Data/content can be encrypted and sharded before distributing to storage nodes spin up globally and a hash generated. This means that user can choose to provide the content to only a specific individual or to the masses. Beside that on, one can also choose for those data transaction to happen on private chain which means that you are hosting your own nodes. This will enable for big enterprise to adopt of migrate their exisiting process easily without reluctance which in turns will assist startup or small and medium bussiness to scale their bussiness faster due to the communication on public chain. As to EroX platform, we are developing a platform where users will be able to perform their action as per feature on a single platform.

Cryptodiffer Community

Q1: DeFi nowadays seems to be a very hot keyword that many popular platforms like Ethereum, Vechain… are focusing on. How does Rivex think about DeFi in your strategy and how well has Rivex prepared for this big wave?

Q2: Wanchain is a cross-chain blockchain infrastructure designed to facilitate asset transfers and host dApps for the financial industry, so what is the advantages and benefits when you build partnership with this project

Lyam van Zyl
Global Community

DeFi forms one of the three pillars of RiveX. Under our decentralized finance initiative we have the worlds first cross-chain DEX being built with Wanchain which is scheduled for releases later this year. We also have twin-strike contracts (short term RVX hedging contracts) and Stratox – an Investment Token Offering platform. More detailed info can be found in our commercial paper on our website rivex.io

Part of RiveX private chain is being built on Wanchains Lanchain. The purpose of this is for interoperability within our enterprise solutions. For example, RiveX Lanchain solution for enterprises offer cross-chain communication between siloed public and private chains, including Bitcoin, Ethereum, and soon to be EOS scheduled for Q4 2019

Cryptodiffer Community

1. Can the project show what important issues that DeFi is facing? What solution does Rivex offer to be able to solve those problems?

Alen Ng
Co-Founder

As of right now, we see most DeFi product offered are front-facing. However for them to be able to scale, we are providing them a place to store their data where in turns there are able to use it to perform analytics. This enables these current products to evolve and in turns lead the masses into being a users.

 

Cryptodiffer Community

Canyou explain how RiveX can combine Centralized and Decentralized advantages in the easiest way?

Alen Ng
Co-Founder

As per what is seen from most project introduce in the decentralize ecosystem, the adoption rate is low and this does not bring any benefit to the space beside constant speculative on the value of a token. We want to develop a solution which can bridge the centralize space solution to the decentralize space via the hybrid-chain model so the space will mature which in turns benefit from accelerate adoption.

Cryptodiffer Community

It is interesting to know that here we have another project with Proof of Capacity, could you tell us what kind of modifications or adaptations you made to this consensus mechanism for Rivex?

Do you have any idea of an estimate of the capacity of the network? in terms of storage and transactions

Alen Ng
Co-Founder

As of right now I will not be able to provide a definite answer to this yet. It is still on the designing stage and once we are done, dev team and me will be performing the testing to ensure the robustness of the architecture. We are in the midst of deploying nodes as well as migrating our token contract to WRC standard.

We are estimating a network that can hit 1000tps however this is just a projected outcome but we will enlist the help of community during the alpha testing and from there we will be able to provide a definite report. We are positive on the storage resources that will exist on our network in terms of providers and users both on the public and private chain. Do stay tune and I hope you will assist us to test the platform later as to the question you pose here.

Cryptodiffer Community

What is your team size enough to achieve your goals? Or do you want to increase this size? What will it be like to join your team?

How you solve the Security, Scalability and Liquidity Problems?

Lyam van Zyl
Global Community

From corporate banking, to telecoms, to blockchain development, the RiveX team has many decades of experience in multiple fields. All of this talent came together to create RiveX, offering enterprise super solutions. The team is dedicated to deliver what is promised in the whitepaper.

Since RiveX is using a hybrid chain model, security and scalability comes as an added benifit of using this model as Lanchain solutions can be tailor made to enterprise needs.

Cryptodiffer Community

What is your working model? Can you please elaborate it. What are your Plans for Remaining 2019?

Aljaz Tisler
CMO

I don’t know what exactly do you want to ask with first part. Second part is answered on roadmap at Rivex.io

 

Cryptodiffer Community

Can you explain bit about your project logo?

Aljaz Tisler
CMO

It’s one of logos designer presented to us and we like it. There is no special story behind our logo.

 

Cryptodiffer Community

There are many Layer 2 solutions such as side-chains, plasma chains and state channels. So, i want to know which one of them will be available on Rivex and  how will off-chain scaling work through these Layer 2 solutions ? 

Blockchain as a Service (BaaS) is a core component in RiveX’s revenue model, offering highly customizable and modernized software for enterprises. So, can you let us know how many full operation BaaS products does RiveX have right now and are ready for Enterprise business?

Alex Ng
Co-Founder

1) It will be base on a mix concept of side-chains and state-channels. Building on Wanchain private chain, Lanchain means we will be able to develop product that use best on both public and private chain. I give an example, an app deploy on our chain privately will be able to customize which process needs to be directed to the public chain to communicate with the other party or this can totally be customize to happen on private-chain between both party. The benefit of these customization enable a solution to scale as per what is needed. 

2) As of right now, the first product EroX is still under development so I would say there is none that are ready yet. Do stay tune to our official channel as we will need the assistance of community to test the product once we release.

Cryptodiffer Community

What are differences between your Xoffice compared with other office softwares on martket that can make user to switch?

Lyam van Zyl
Global Community

For that you need to understand why EROX is a revolutionary model. You can read all about it in depth here: https://medium.com/@RiveXOfficial/erox-the-enterprise-super-solution-explained-c5c776c0e6c0

 

Cryptodiffer Community

What are the Current major issues in Businesses which RiveX project is trying to solve ? as well as which types of businesses RiveX is focusing on ?

Explain some benefits and utilities of Rivex coins ? also whats the use of RiveX coins in Rivex entire ecosystem ? Why should we invest in Rivex coins ?

Alen Ng
Co-Founder

There are processes in current centralize solution which will beneft from the switching to DLT in terms of cost effectiveness as well as resources can be directed to other elements in a bussiness that can benefit more. Some example where smart contract can be deploy to automate or simplify action that requires human manual work. RiveX will also be provided sdk wrapper for conventional developer to switch or migrate their task easily. We are not specifically targetting any bussiness as of yet as we believe our core can assist in all business nature. 

 

RVX Token will be majorly be use to incentivise our storage nodes and validators nodes providers. In terms of preserving value, RVX Token is needed for participation to the product we will be releasing under our DeFi pillar. Beside that there is also a minimal help from RVX Token being use during development and as gas fee.

Cryptodiffer Community

I read a lot about Rivex, all are positive and good. But my question is what is behind Rivex that maintains its accuracy and ensures the whole system is working as per requirement? Is there any centralized server to check whether everything is working fine?

Alen Ng
Co-Founder

We will be enlisting the help of the community participation in both the alpha and beta launch. After each testing phase, a report will be provided as to what has been achieve. We are also in planning stages to enlist the assistance from community who can provide benefit from the technical perspective by being a community developers as the testimonial from a third party will speak more value to the project capabilty.

 

Cryptodiffer Community

With the combination of public chain and private chain (Hybrid Blockchain), RiveX will be more security and privacy. However, to response the requirements of government about financial transparency when u are on Enterprise level and to resolve the problem on regulation and law-related, how will RiveX team solutions be?

Alen Ng
Co-Founder

Our development and product offer will be in compliance that is why we will run through with our legal each time we have a new update. As to during adoption or integrating, our legal team will definitely provide advise to our client to ensure the process undertakes comply with local and global law and regulation. However with the ongoing regulation release we will be staying up to date and ensure compliance.

 

Cryptodiffer Community

Are you planning on creating products on top of your chain? (some projects i know are doing it in order to create revenue to the project / company)

In the crypto field its very hard to create revenue, so how does RiveX plan on creating revenue in the crypto world?

Alen Ng
Co-Founder

We have actually listed the major product that will be build on our chain on both the roadmap as well as the ongoing article release on our official medium channel. Yes your question posted in regards to revenue is what defintely helps a project to stay. We have outline these in our commercial paper however do stay tune and follow our official channel as we will be releasing news which will answer your query as well.

 

Cryptodiffer Community

What has the security, speed, and security with RIVEX  so far accomplished? This will prevent the ability to expand the application of Blockchain in all areas of life. This is a big problem of Blockchain, so fantom has done so far to improve this problem?  

Staking seem to be popular right now on many blockchain project to encourage investors to hold tokens and make it healthful for project ecosystem. Does RIVEX   support this as well? If yes, what will requirement of a Node and a Validator node be? And how does reward base on?

Alen Ng
Co-Founder

1) So far its all on internal design and testing. We will be outlining this with the release of our technical paper. However you concern is duly noted. Those factors are what we take into consideration during our design stage for our architecture model. 

 

2) Yes, the provision of validator nodes in our ecosystem via the consensus mechanism is use to secure the network. A certain stake on RVX Token will be needed to be a validator and this will be further discuss on our economic paper.

 

Cryptodiffer Community

Q.1 What is the main goal of working with Wanchain? What problems is this collaboration designed to solve?

Q.2 If the company is located in an unregulated country, can they still use the platform?

Alen Ng
Co-Founder

1) Wanchain is providing us with technical support and you can see Li Ni and Mark listed as RiveX advisor as well which means we are constantly in touch to discuss and both of them are providing valuable advise and feedback to achieving RiveX goal. RiveX solution and idea is also pose as something that is in line with the direction that Wanchain is focusing on now. We are providing a layer-2 on-chain and off-chain solution using Wanchain protocol which means any solution build or deploy under RiveX will benefit from having the features and capabilty listed under Wanchain. One thing for sure will be the scalability of the solution which means that one can expect progress on their bussiness.

 

2) Our platform is deploy for the use of everyone however it falls under the user to decide if he/she will need to comply with certain local law or regulation by their action. There will be a privacy policy as well as terms of use that user all needs to agree to before they can use.

 

Cryptodiffer Community

Which market does Rivex pay more attention to? Do you plan to open to European countries outside Asia?

Alen Ng
Co-Founder

Our focus right now will be in South East Asia however we will definitely not single out any other continent. We are confidence that our solution will provide a better alternative to current solution offer in the market and thus we are always welcome to suggestion and bridging that our community can offer.

 

Cryptodiffer Community

To spread more awareness about Rivex do you plan to have competitions like quiz or games in the community or on twitter? &

Can we help you in anyway?

Alen Ng
Co-Founder

Stay tune as we are on the verge of releasing an activity which require the participation of the community. Remember to join our official channel so you get the update once this is release.

 

Cryptodiffer Community

How Rivex DEX will get the liquidity where most of the DEX is thriving or dying due to low liquidity? Why somebody will use your DEX and what makes it special ? I dont find much info on your whitepaper.

Alen Ng
Co-Founder

The barrier of entry is the cause we find causing this issue that is why we will be introducing a much more simple way for user to start their trading experience. Beside that we are also improving the experience of user via some gamification introduction so do stay tune. This will all be outline in article once we are ready to release the product.

 

Gcrypto TEAM

Thank you guys=) It was a great ama!

Community thanks for questions! It was really interesting

Thank you for taking your time!

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