ROAD AMA Recap
CryptoDiffer team
Hello everyone!
We are glad to meet here Aaron Li (@aaroad), Founder of ROAD
CryptoDiffer team
Can you introduce yourself to the community? Can you briefly describe what is ROAD?
Aaron Li
Founder
I am Aaron. Li, Founder of ROAD. It’s my pleasure to be here.
Prior to join ROAD, I had worked in Alibaba China for 6 years as Manager of the Exhibition Development Department and was responsible for exhibition channel, marketing channel, government relations, and innovative business etc.
After leaving Alibaba, I founded Incubator Industry Park of e-commerce on cloud, which was reported by Xinhua News Agency and People’s Daily and many other mainstream media. At the same time, I was also inspected and guided by the main leaders of the Guangdong Provincial Party Committee and Provincial Government for many times.
CryptoDiffer team
Can you briefly describe what is ROAD?
Aaron Li
Founder
Okay, Road is a blockchain project focus on Internet of vehicles industry. ROAD attempts to create a full lifecycle interaction and accounting system for vehicles based on blockchain technology, which is called auto-ledger. And what’s the auto-ledger? It is an Internet of Vehicles and intelligent transportation system built on individual interaction and community intelligence. It can implement related business applications, data confirmation and privacy protection with blockchain technology. At the same time, the ROAD Token will be created to coordinate the resource exchange between the vehicle nodes and the heterogeneous chains. Road is a business-driven project, which continues to increase the marginal effect of the overall participation population through the practice and expansion of commercial projects.
CryptoDiffer team
What is technological deficiency of Internet of Vehicles?
Aaron Li
Founder
Ahah:) that’s what we are focus. At present, the Internet of Vehicles is using centralized Internet technology. On the one hand, the centralized network enviroment and encryption method are easily attached by hackers, causing driving hazards. For example, when you are driving , the car is hacked and controlled, which easily cause traffic accident.This accident occurred in a JEEP in the United States in 2015. On the other hand, the methods of centralized data transmission and storage are also easily to cause data leakage and privacy risks. Large amount of private data collected by current Internet of vehicle technology, such as user’s information, driving trajectory, vehicle status, etc. so the consequences of the data leakage is vital.
CryptoDiffer team
How does ROAD solve these problems?
Aaron Li
Founder
In the ROAD system, all data cooletion and transmission will be verified by the verification nodes regarding data authenticity. Node verification can effectively prevent data leakeage and system intrusion during transmission, and ensure driving safety. In addion, the ROAD Chain will record all the original data submission process. For daily driving data, the hash values of all data are stroed in the blockchain for subsequent retrieval of queries. For key data, such as car factory data, accident data and manufacturee statistics will be directly stored in the chain. Due to the distributed and dencetralized features of the blockchain, it will greatly increase data security and trustworhiness.
Cryptodiffer Community
Q1: What are the main application and consumption scenarios for the ROAD token? Will not the market volatility affect the functioning of the tokenized system as a whole?
Aaron Li
Founder
1. The main application of ROAD token is auto-ledger that we create for vehicle owners who has ROAD token. Auto-ledger provides cheaper auto repair service, cheaper auto insurance service, more accurate used car valuations, etc. 2. Of course not. Our white paper has already answered this question. Some of the internal applications of ROAD auto-ledger require stable crypto currency, so we add a second-tier token at a suitable time, adopting a Libra-like method to link stable coins such as, USDT or USDK.
Cryptodiffer Community
Q2: The ROAD concept combines the use of both cellular systems (5G, V2X) and blockchain (IoV). Huge amounts of data will be stored and processed on blockchain. Is ROAD ready to work on an equal footing with 5G in terms of scalability?
Aaron Li
Founder
The number of nodes is huge and reaches several billion. The data submission is real-time, it is obviously unrealistic to deal with such a large amount of data through a single blockchain system. In order to solve the problem of data interaction, ROAD will adopt to take the method of fragmentation to complete the data collection work. Edge nodes are divided into different groups, the process takes place on the ROAD chain. Different car users can join different groups according to their own needs. In each group, all edge nodes are peer nodes. During submission, a part of the verified and calculated edge nodes randomly selected by the verifiable random function to collect, verify, and submit real-time data.
Cryptodiffer Community
Q3: Twitter CEO said Africa is the future for everything blockchain, please do you consider pushing adoption in Africa? Explain more about your road driver assistance obd device with masking algorithm. Does this assist in Privacy/SECURITY?
Aaron Li
Founder
For the first question: Road’s business ecosystem is global, including Africa.
For the second question: The privacy protection technology of ROAD is derived from INT Mainnet 4.0, it can effectively protect the privacy of users:)
Cryptodiffer Community
Q4: What is your Business Model &? How drivers can earn by using Road technology & its products like “OBD Device”?
Aaron Li
Founder
ROAD is a business – driven project, and ROAD’s business has its own ecosystem. We collect data through our hardware products such as OBD device, and develop software products to make data valuable. In the future, drivers not only earn by using OBD device, but also by using other hardware products, because we have the plan to develop other hardware products. And our software product matrix is stronger than hardware product matrix.
Cryptodiffer Community
Q5: DEMAND & gt; supply = Price increase
Demand & lt; supply = Price decrease
My question also related to demand, which is important for investors. How will demand of ROAD token increase in the future? What should you do to increase ROAD demand?
Aaron Li
Founder
That’s a good question. I want to emphasize that ROAD is a business – driven project, so the increase in the value of ROAD token depends on the development of the ROAD commercial systems.
For the second question, we have released a beta version of the OBD device to build auto-ledgers for vehicles, and the upgraded version will be available this month. And we have also developed an internet platform for the automotive aftermarket, and now we have more than 4,000 auto repair shops. In addition, we will continue to expand our business ecosystem, make our token more and more valuable.
Cryptodiffer Community
Q6: Have you meet all your goals in the roadmap till now? And were there any difficulties that you didn’t expect and were not prepared for?
Aaron Li
Founder
Of course, we have released beta 1.0 of our auto-ledger app in November, and the public beta version will be released at the end of this month. The ROAD project has just started. As the project develops, we will face many and many difficulties, but I believe my team can solve these difficulties.
Cryptodiffer Community
The Chinese Chairman Xi Jinping recently made a positive speech about blockchain technology. What do you think will change in the world’s future and how may it impact Road ?
Aaron Li
Founder
It shows President Xi is encouraging the blockchain technology and industry application, it is good for people working in this industry.
I think blockchain technology in China will develop more quick than before. For ROAD, it will foster the application of ROAD.
Cryptodiffer Community
Q1. How will you tackle the obstacles like regulation, expansion, bear market and all ?
Q2. Why ROAD choosed OKEX as partner why not Binance ?
Aaron Li
Founder
For the first question, I want emphsize again, ROAD is businness – driven project, the incerease value of ROAD is depend on the business, the big business the more success of ROAD, it will be not affected by bear market.
Cryptodiffer Community
Who are Road’s potential customers? And which market is the target of Road?
What are the advantages of applying INT Chain mask algorithm?
Aaron Li
Founder
The potential customer is car owner, repair store, auto parts seller, and automobile manufactucer.,etc.
Cryptodiffer Community
Currently, the market is filtering very hard on low-quality and poorly performing blockchian and cryptocurrency projects. Does ROAD have any advice for investors?
Does Road have any new directions for projects about to debut? Some advice, for example
Aaron Li
Founder
I cannot give any advice to investor regarding investement. But I believe the market and technology will boom if we have enough patience.
Cryptodiffer Community
How does ROAD evaluate the importance of the user community? In the near future, does ROAD have any special plans to attract and expand the community?
Aaron Li
Founder
Comunity is very important for ROAD, we are palying hard to create a community consenus for ROAD, in the neare future, every auto-ledger user will be community member.
Cryptodiffer Community
Why should existing automobile companies switch over to ROAD and will it increase their bottom line as profit is the purpose of business?
Aaron Li
Founder
ROAD has a cuting edge tecohonogy in IoV, it can effectly protect user’s privacy, make it possibile for interaction among driver, car and road infrunstrctrue. Besides, ROAD can serve full lifecylce of cars Including purchase cars, repairing, insurance, and second hand car trading.
Aaron Li
Founder
Thank you all for having me to join this AMA:
Cryptodiffer TEAM
It was a pleasure to conduct an AMA with ROAD!!!
Thanks for your time Aaron Li @aaroad let’s finish the ama
