Multi-Chain Booster X Concordium AMA Recap on September 9th

Updated: Sep 15, 2021



Part 1 — Introduction and questions from the Twitter retweet

Car Marz:

It is an honour to have the amazing concordium project with us today...

To start...

Suhas Hegde:

And Concordium is elated to be here with Multi-Chain Boosters Group for this AMA!

Car Marz:

Massive 🔥🔥🔥🔥 Please give us a brief introduction about your team and Concordium. What gave you the idea to build this platform?

Suhas Hegde:

I am Suhas Hegde, a Computer Science Engineer by education and skill. I lead Tech Marketing at Concordium. I have been around in the crypto and blockchain space since 2013-14.

Now,let me begin by speaking about Concordium, Concordium was started by Lars Sier Christensen who comes from the Traditional Financial World, he was one of the first to build Saxo Bank which later spread its presence to many countries across the world. With that he came across many different learnings, which he felt would be advantageous when mixed with the emerging technologies so it’s ready to serve the business and enterprise world.

We are headed by Lone Fønss Schrøder as the CEO who is the Vice chair of Volvo, Director at Ikea and recently even an advisor to NASDAQ listed Service Now . Our CTO Torben Pederson is the father of the Pedersen Commitment, one of the most popular cryptographic primitives on which Zero-Knowledge Proofs are built. Beni Issembert is the CMO at Concordium, he is a well known figure in the privacy world, he was also the former CMo at Beam Privacy.

Jørgen Hauglund is the CFO of Concordium , Conor Ringland the COO . We also have a wonderful team of scientists, Engineers, Marketers and builders.

Brief of Concordium :

Concordium is a privacy focused science-based proof-of-stake public blockchain, the first in the world with identification built into the protocol level and designed to meet regulatory requirements. Concordium is ready to solve the quadrilemma of scalability, security, decentralization, and regulation. We believe it is necessary to solve compliance and regulatory requirements in order to unlock trillions of potential business transactions using blockchain.

Car Marz:

Massive thanks for this amazing introduction... 💪💪💪

We are very intrigued and we want to know more ..

Please tell us some major milestones Concordium has achieved during its development process.

Suhas Hegde:

Sure!

There has been a lot happening at Concordium. It's actually quite interesting how we live in some intruiging times. We have been seeing that regulatory concern is the talk of the town, and Concordium has been preparing precisely for this for a very long time.

To speak about the few achievements of Concordium :

- We have successfully launched both our MVP and our Mainnet in June this year.

- We have signed a JV agreement with Geely Cars, the strongest car manufacturer in mainland China.

- We have raised around $40m+ this year in private sale rounds.

- We have launched the DevX initiative with the RustLang community to support Rust Developers and to enable the open-source ecosystem.

- We have identified and engaged with more than 50 partners to secure the network, from professional node runners, to builders and system integrators.

- By this, we are confident that we are delivering what is needed from a pure tech and biz point of view to build the Present and support the Future. We leave the Past for our competitors.

- And last but not least, we are the proud tech support and sponsor of the #WeToo initiative that fights child abuse and that will host a giganstic music show in Europe with Drake as main star.

- For this purpose, Concordium will deploy for free a charity tracking dapp based on our Blockchain and that will be released in open source. What we do, we don’t do it for us, our mission is also to fix the world.

- We released the Concordium Free & Open Grants Program, and there are many projects which are interested in applying.

- SpaceSeven has announced that they want to build an NFT Marketplacewith Mainchain being Concordium.

- Concordium & Swvl have joined forces to bring blockchain Technology to the mass transit industry. You can read more about this here : https://www.cryptodaily.co.uk/2021/08/concordium-partners-up-with-swvl

For those of you who are familiar with Swvl you would know that its a publicly traded company in the USA

Concordium has been working on a lot more exciting stuff when it comes to the tech integration side of things. You will hear more about it

Car Marz:

Could you tell us about the short-term and long-term goals of Concordium in the future?

You tell is what you did so for... Now we want to know what's next in stock... 🔥🔥🔥

Suhas Hegde:

Good question, all our short term and longterm goals are driven by the vision that Concordium was initially stared for.

We have built a strong MVP that has been released with our mainnet. It means that most of the functionalities are available with mainnet launch. Our progress has been tested and proven ( we have had 4 different testnets that really helped us improve our technology ) , we say so because we have been researching and formally verifying the research to build technology that works for the business world. We have 40+ research papers ( not many projects have this research based approach btw ) and with successful testnets we have proven our MVP which is ready for release next month.

Here is the link to our Technical Roadmap :

https://medium.com/concordium/concordiums-roadmap-f61c546c2d80

The technical Roadmap will show you what we plan to do in the coming days and progress according to the needs of this world.

We are building something for the NFT fans and we will announce more about this next month!

I think we are seeing the narrative globally, what we were anticipating play out exactly the same way. Blockchain Adoption is sky rocketing, innovation is accelerating at a rapid pace, and Concordium is ready to take a huge market share. All this while being fully ready when we speak about regulations.

Car Marz:

Wow amazing ❤️❤️ lots to look forward too...

There has been lots of questions about exchange listing, what is your thought about that? Do you believe in exchanges first or building the ecosystem first?

Suhas Hegde:

Very very interesting and good question! I'm sure a lot of our community members have a lot to say about this as well.

Let me share some thoughts here regarding this.

I know that everyone is very keen about Exchange listing and we can understand the excitement about the same.

We are extensively in talks with Tier 1 exchanges and fully regulatory compliant exchanges for listing. But listing process is not as simple as listing an ERC20 token for example.

Concordium has the connections to make meaningful listings possible. You have to understand that Concordium is a layer 1 blockchain, so intergration from a technical viewpoint is much more complex compared to listing an ERC-20. Beacuse when the Exchange does the integrations, they have to make sure that the exchange can also have listing capabilities of tokens that are built on top of Concordium ( just like tokens built on Ethereum & Polkadot )

So there is a lot of technical backend to deal with. Concordium is built using Rust ( Just like Near , Rose , Solana ) and things can be quite complex. So the key word here would be patience, because one needs to get everything right.

When you have great technology based on extensive research, backed by an experienced team you know everyoneis working for the success of the project.

What we are focusing more on is the applications that want to be built on Concordium, which aligns with the launch of our DevX Initiative and also the Free & Open Grants Program. With growing utility, you will have usage which will drive up demand.

It's actually simple when you look at network effects across different blockchains as well.

So maybe we beleive in building the Ecosystem First and then follow it up with the exchange listing

Car Marz:

Thank you so much for this insight... This is very important for the investors but also for everyone looking to get into your project...

Suhas Hegde:

Yup! For longterm growth sustainable solution and building is the right way

Car Marz:

Can you tell us about the Concordium Grants Program and what can be done with it? For the builders 💪💪💪

Suhas Hegde:

Right! This is something which I am personally very excited about. Because this is the juicy part where the different projects across the world help us dream and even help bring this to reality by using the technology we are building.

Concordium launched the ambitious grants program to sponsor open-source developers to contribute to both the Concordium Ecosystem and the RustLang Ecosystem. The Concordium Free & Open Grants Program offers up to USD 20k for initial grants and USD 75k for follow-up grants, which are tracked transparently on GitHub and disbursed in GTU or Fiat (Euros, US Dollars, or other).

Among the Executive and Steering Committee, there are renowned academics including ETH Zurich Prof. Ueli Maurer and Prof. Hans Gersbach, Dr. Torben Pedersen Concordium’s CTO and Father of the Pedersen Commitment, and Michael Jackson former Skype COO and Mangrove Capital Partner.

“As an open and decentralized project, Concordium’s vision is based on the principle of reciprocity and giving to the developers and science community. First with the foundation of Concordium Blockchain Research Center Aarhus, then the DevX Initiative and now with this Grants Program, Concordium aims to support and strengthen the science and development behind blockchain, and technology in general” Torben Pryds Pedersen, Concordium’s CTO.

The application process is open to any developer or technology project eager to contribute to the Concordium and/or Rustlang ecosystems. You can find a list of areas in the Concordium Technology Stack that demand particular development here.

The application is open to any developer or technology project, if you are interested you can apply here. ( https://github.com/Concordium/Concordium-Free-Open-Grants-Program )

You can also mail me for any questions at suh@concordium.com or event mail grants@concordium.com for any further clarifications.

Open Grants - Open to everybody! Come start building guys!!

This is how a Proposal Technical Template looks like : https://github.com/Concordium/Concordium-Free-Open-Grants-Program/blob/main/Grant_Proposal_Technical_Template.md

Car Marz:

Let's get down to the Twitter questions...

1.What do you think is the most important property for an oracle to get a high weighting in your system? @prinsesarah_16

Suhas Hegde:

Should be fast and effecient! And decentralized, so we are open to integrating with decentralized oracle solutions more.

Effeciency and speed are something that is super important for businesses!

Car Marz:

Thanks 💥💥 great answer 💪💪

2.What is your total turnover presently and what promotions and marketing are you doing now for adoption? @santi93684176

Suhas Hegde:

Currently Concordium is currently not focusing on Turnover just yet. It is focusing on building technology to enable usecases to build on top of it. Concordium has been funded with $40+ Million so there is enough room for us to focus on building and delivering without the worry to get hasty with revenue.