Utopia Genesis AMA Recap
CryptoDiffer team
Hello, everyone!😁
We are glad to meet here:
Hatem Hachana, Chief Operations Officer at Utopia Genesis Foundation
COO at Utopia Genesis Foundation, Hatem Hachana
Thanks glad to be here!
CryptoDiffer team
Q1: Can you introduce yourself to our community ?
COO at Utopia Genesis Foundation, Hatem Hachana
So my name is Hatem and been working as the daily operations in Utopia Genesis Foundation since the start. I have been involved in crypto since early 2017 and started mining and have done the whole trip like alot of other people here.
So in the end of 2017 I got interested to keep on working in the blockchain space and from there its just been moving forward pretty good and its nice to see all the changes happening in this industry for the better.
CryptoDiffer team
Q2: Can you briefly tell us what is Utopia Genesis Foundation in 3-5 sentences?
COO at Utopia Genesis Foundation, Hatem Hachana
It’s a place for all in the music industry that wants to make a change for the better everybody involved
We want to tokenized music rights so artist and fans can share the experience. So fans can be a owner of the song and the artis can get their fans as owner instead of big labels
Think this sums up shortly
CryptoDiffer team
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans
COO at Utopia Genesis Foundation, Hatem Hachana
So far we have partnered up with Terra Virtua for making collectibles from events or a famous guitarr etc.
We have team up with Stokr who is the first licensed for security tokens so we can put out artist music rights on the blockchain.
We have deployed our blockchain (POA) with a bridge to Ethereum. Our own wallet is up and running.
We are validating the music consumption data on our own blockchain that is getting collected everyday and so far has over 8 billion data points from over 150 000 + radio stations.
Our upcoming plans is to
1. Launch Delta a Software as a Service Platform to allow artists, agents, Labels ecc. to keep track of their songs and artists and understand how they are perfmorming globally
2. Launch Genesis with STOKR, allowing anyone to tokenize, buy trade sell
3. Launch Developer ecosystem with the Utopia Open Platform before year end
CryptoDiffer team
Awesome, a lot of updates to come out!
Thank you for great answers!
I think it is time to start community questions round!
Cryptodiffer Community
What are your plans after doing AMA with multiple groups and what will make people more attractive to your platform at Utopia Genesis ?
COO at Utopia Genesis Foundation, Hatem Hachana
So we want to make these AMA so we can get the word out in the space that we are here and we are here to stay. We have the most accurate music consumption data out there and with this its a great benefit for both the artist to plan their next event to play or their next release for the song.
Cryptodiffer Community
How will Utopia Genesis improve the business of all players and help generate more revenue for the industry? What protocols will you employ to achieve this and in turn make this great industry thrive?
COO at Utopia Genesis Foundation, Hatem Hachana
We will lower the cost all around the industry right now by implemeting this blockchain solution. So we dont want to get ride of any one in the industry just make it cost efficient
Cryptodiffer Community
How will Utopia ensure that its blockchain system will be a transparent, efficient, and fair platform for artists and musicians to get their remuneration right? What would be the best solution to prevent piracy now widespread in jurisdictions where there are no policies to protect the music industry?
COO at Utopia Genesis Foundation, Hatem Hachana
We are getting all the consumption data and with that we can see where its played. I know we will also implement on different social media in that way people can not hide and need to pay to the right full owner of the rights.
Cryptodiffer Community
What is Utopua Music AG? And what is the difference between Utopua Music AG and Utopia Genesis?
COO at Utopia Genesis Foundation, Hatem Hachana
So Utopia Music AG is collecting data and checking against artists reports if its missing revenue and report it back to them so they can go the PROs and against where is my money?
The Foundation is tokenizing music rights and making it easier for artist to raise money for their next idea and in the same time make the fans a part owner of that song and hopefully in the future earn steady revenue from it.
We will also open up for other developers to use the data to build apps for the industry
Cryptodiffer Community
I see that Utopia have mutlichain system- UOP (PoA) and UOP (ERC20). Why you need UOP (PoA)? Don’t you think that Ethereum 2.0 Is coming with some great changes and it will solve all the exist problem?
COO at Utopia Genesis Foundation, Hatem Hachana
Not regarding micro transactions with low cost.
Cryptodiffer Community
IEO at Bitfinex have been very successful. How did you manage to convince Bitfinex management that Utopia Genesis is a top project and market leader in the future?
COO at Utopia Genesis Foundation, Hatem Hachana
Just by having us there is stating pretty clearly that they believe that we are a great project! havent you seen that they have banners about our project on the exchange?
Cryptodiffer Community
Do you have any any Token Burn plans to increase the value of Token & attract Investors to invest?Can you tell me your plan?
COO at Utopia Genesis Foundation, Hatem Hachana
Yes we are planing to have it later on for every data bought on the different applications there will be different burn
Cryptodiffer Community
Users often care less about technology, but rather the value of the token. How do Utopia Genesis manage to strike a balance between developing the technology and also improving the value of the token?
COO at Utopia Genesis Foundation, Hatem Hachana
For us must important that we are delievering what we are promising, thats why we havent gone out yet with a roadmap because there is a lot of projects that is over promising and cant deliever and we are trying another approach where we are telling ok this is what we are doing and hopefully that will stabilies the price of the token.
Cryptodiffer Community
#UTOPIA community is growing, SO how can we user help you and How can we contribute your quota towards your success?
COO at Utopia Genesis Foundation, Hatem Hachana
Spread the word, one of the bigger issues is that artist need to understand how much we can help them with the data we have and that they can manage themselfs instead of letting lables own 50% of their copyrights and never getting it back. Instead we let fans own shares of the song and when the artist wants to buy back they can.
Cryptodiffer Community
You say that Utopia has collected and compiled over 8 billion unique data points and loaded them onto your system. Do you have a finished product or MVP? How does Utopia data mining work?
COO at Utopia Genesis Foundation, Hatem Hachana
We are not uploading all of it, we started from 1 month back. IF we upload everything then the blockchain will be super slow so we just take snippets everday and if someone buys or uses the data it will be pushed up through the merkel treee
Cryptodiffer Community
What is Delta Software? Do artists, agents have to stake UOP tokens to access Delta?
COO at Utopia Genesis Foundation, Hatem Hachana
No they dont need to stake tokens. They will get discount if they pay with tokens.
Cryptodiffer Community
What benefits do you have for long term holders of $UTOPIA token ?
COO at Utopia Genesis Foundation, Hatem Hachana
That everybody that invest is investing in the future for a better music industry as whole and this in the end will be the main currency for artist when they are getting paid.
Cryptodiffer Community
What is the use of Utopia with such a small audience reach?
COO at Utopia Genesis Foundation, Hatem Hachana
We need to start somewhere right? But we arent small in the industry 😉
Cryptodiffer Community
How does Utopia generate income to finance the project ?
COO at Utopia Genesis Foundation, Hatem Hachana
Through the token sale and also through the platform when people use the different applications
Cryptodiffer Community
The music industry is conformed by huge enterprises,how do you intend to gain the attention of them? How long do you think would it take them to get into blockchain technology, is Utopia Genesis the gateway they need?
COO at Utopia Genesis Foundation, Hatem Hachana
We already have a name in the industry and they know we are doing this. I hope this is the gateway like example for the BTC now when paypal has adopted it
Cryptodiffer Community
Where does your data come from and how can you proof that this data is real and legit?
COO at Utopia Genesis Foundation, Hatem Hachana
Its come from the radio stations, its time stamped and also finger printed
Cryptodiffer Community
The Utopia team has collected over 8 billion unique data points and uploaded them to the system. Tell us about this volume of data, where does it come from and how do you ensure the accuracy of this data?
COO at Utopia Genesis Foundation, Hatem Hachana
The data is stored securly and the security has been audited by Berring point.
COO at Utopia Genesis Foundation, Hatem Hachana
Thanks to be apart of this!
Cryptodiffer TEAM
Thank you for you answers, it was an insighfull session
Thank you everyone who participated, great questions as always!
