GBC.AI was hosted by the Avarta community for an AMA
On Thursday, 27th January 2022, GBC.AI was warmly welcomed by the Avarta community Telegram group for a joint “Ask Me Anything” (AMA) with COO and Co-Founder of Avarta. Please find the transcript below:
Avarta (AV) Welcome; please tell our Avarta community a bit about yourselves!
William De’Ath (WD) I’m excited to be here with your community, especially as both GBC.AI and Avarta will be working together in the not-so-distant future.
My name is William De’Ath; please call me Will. I am the Chief Communications and Business Development Officer at GBC.AI. We have enabled Blockchain 4.0.
Our proprietary Artificial Intelligence technology provides products that secure, protect, and allow the scale-up of all blockchains and DLT networks. Our approach has changed Blockchain forever, allowing it to come of age.
(AV) Avarta was impressed with how GBC.AI applied AI differently to Blockchains and protocols, which we will discuss a little later. How long have you been in the tech industry?
(WD) Indeed, others had tried to apply AI to the core of Blockchains without much success, but we cracked it first. We, GBC, are also impressed with the technology approach Avarta is utilizing.
I started programming basic computers in the early 1980s; these were the days of cassette tapes and floppy discs for storage. In the 1990’s I created multimedia CD-ROMs and connected computers to bulletin boards just before static internet pages kicked off Web1.0. Fast forward to 2016, I was attending Cryptocurrency conferences and realized Blockchain technology was a perfect tool to solve real-world enterprise problems. Around this time, I started working with a fantastic team that developed cutting-edge artificial intelligence. My passion for AI and Blockchain, combined with day-to-day Crypto activities, led me to be invited to the GBC.AI co-founding management board.
(AV) How about a high-level pitch of GBC.AI?
(WD) Ok, I thought you may ask that so I was prepared.
Blockchains technology is still immature and will experience infinite growing pains, including delays, bottlenecks, attacks, hacks, spamming, security concerns, and dropouts. GBC.AI has the products to pre-actively prevent any known or unforeseen problems that Blockchain networks can face.
GBC.AI technology provides products that secure, protect, and allow the scale-up of all blockchains and DLT networks. We make Blockchain Guardians for DeFi, commerce, social networking, banking, supply-chain, healthcare, insurance, gaming, DAO’s, and infinitely more applications.
Our proprietary cutting edge approach to applying Artificial Intelligence to the heart of Blockchain networks allows GBC.AI products to propose novel changes that enhance networks, changes that no human can even dream up.
Think back to the days of car technology; we had ABS, cruise control followed by lane assist, and adaptive cruise control, and ultimately we are now close to or at fully autonomous driving cars. Now take that analogy to Blockchain, GBC.AI today is at the ABS stage, and we are closing in on our vision of delivering a self-aware, dynamically adjusting, and autonomous Blockchain. Welcome to Blockchain 4.0
(AV) Sounds like an amazing project! Can you tell us about the origins of the idea for GBC.AI? How far back does it go? What inspired you to start building?
(WD)Of course, there was lots of research and development time like any cutting-edge technology that comes to market. I think it was similar for Avarta.
Let’s start today. We all have seen the issues Solana and Polygon have experienced in the last few weeks and months, hold that thought, now let’s go back in time two years. Two Artificial Intelligence development companies, connected by the now co-founders of GBC.AI, came together. They said, “we are applying our technology to many industries such as medicine with cancer recognition. Nobody has applied AI to the core of Blockchain functionality, or at least nobody has succeeded in applying it.”
Those co-founders knew Blockchain technology would grow exponentially. Still, it couldn’t handle scale up without problems, now think about today’s Solana and Polygon issues, and they are in their infancy. We knew AI could solve these scalability problems or Blockchain growing pains. If a Blockchain is struggling today, how can organizations reliably implement the tech when it fails end-users and fails on product delivery when a real-world mass user scale is needed?
If you were a bank and thinking, let’s use Blockchain for a transaction process but read press reports about Blockchains “dropping out” or “stopping,” would you risk implementing it?
So we brought the two AI companies together with all their data scientists, including five PhD’s, created GBC.AI, and we experimented.
By the way, “GBC” comes from Guardians of the Blockchain.
(AV) Tell us about the team working on the project! What are their backgrounds? How many of you are working on GBC.AI at the moment?
(WD) Unfortunately, we all look like those superheroes in the picture above.
Seriously though, as mentioned, we brought two existing AI teams together, which today brings us in at 22 members; all of them deserve individual mentions. We have international prize-winning mathematicians and programmers with experience in Machine and Deep Learning. Our scientific team is at the forefront of everything connected to AI.
We have our in-house legal Tatiana with over 20 years of experience. (She doesn’t look like the above). Our business management team has over 120 years of combined experience across investment banking, IT, Blockchain, AI, product development, go-to-market strategy, and business development. Each member has 15 to 25 years of professional experience with successful startups and exits. I suggest you look at the team on our website after the AMA.
(AV) 😂 Let’s get to the serious questions,
(WD) 🤔 Were they, not serious questions? Now I am going to get into trouble.
(AV) Haha, I won’t be too hard on you. You mentioned Blockchain faces issues or “growing pains” on the journey to mass adoption and as it matures. What are the problems, how does GBC.AI solve these problems?
(WD) Blockchains aren’t adapting to the current conditions. Our solution is decentralized Artificial Intelligence that dynamically adjusts parameters. The result is our roadmap of AI-powered products. I’ll mention a few.
- Blockchain Guardian: An AI algorithm that adjusts parameters in real-time to improve performance, security, and network adaptability
- Simulation: An AI-powered testing environment that simulates parameters and settings of blockchain networks.
- GBC Enterprise: A Blockchain development service aimed at traditional businesses willing to adopt and leverage blockchain technologies.
we have others too
(AV) Thanks for that and, for our community, what is the scope of collaboration between Avarta and GBC.AI, please?
(WD) Yes, that’s super important.
That’s why we are here with you today, and thank you again for the invitation. Avarta and GBC.AI are revolutionizing the Defi world by creating a dynamic and intelligent credit scoring system. Avarta will incorporate GBC.AI’s technology, allowing Avarta to calculate credit scores efficiently, protected, and, importantly, in a flexible manner. Combining Avarta’s approach with GBC.AI technical expertise provides opportunities that would never become available if working separately.
(AV) We are looking forward to working together.
(WD) Thank you, we are too, it will be an exciting opportunity to bring pioneering collaborative technology to DeFi.
(AV) Let’s get back to the Blockchains for a while. With which chains have you worked, and are you working?
(WD) Ok so bear with me and I will add a little “tech” in this answer.
(WD) The first test to prove our hypothesis was POSDAO at the beginning of 2020. We then moved on to Solana with the support of the founder. We conducted more than 1500 experiments to generate 1,500,000 blocks and 10Tb of training data. We increased the throughput by 28% on average while decreasing the drop rate by an average of 11 pp. We are Blockchain agnostic and can work with any PoS network. We also worked with Velas and we have ongoing discussions with Parity (Polkadot-Kusama), Interchain (Cosmos), Avalanche, Polygon, to name a few. However, we also focus on providing our Guardians to private blockchains used by enterprises, Institutions, and Governments.
AV: This technology and science appear pretty technical, and perhaps this is not the time to get too deep. Can our members find out more?
WD: The big push right now is to polish our first finished product, “Simulation,” and we are improving the UI and UX for launch. Solana testnet is ready to go, and we are introducing more “big popular” chains over the next few weeks. Developers will test their work in our simulation framework; consider it our Blockchain agnostic sandbox.
The simulation framework makes it possible to run experiments safely with any PoS blockchain. By experiments, we mean direct interactions with the blockchain, for example: sending transactions, emergency node shutdown, and more. We will allow users to change parameters to run experiments that transform into particular script files that regulate and set the order of implementation.
We would be more than happy to dig deeper, and we welcome questions in our Telegram community. We were in 100% R&D mode until the end of last year, keeping a low profile. Now we are building our community. I will post all the links at the end of this AMA. Remember, no question is stupid, and we will answer in full. Our research is public and has won awards. We realize that our products will remain behind the scenes for most people. Still, our products will be fundamental in securing your decentralized interactions, much like Oracles such as Chainlink.
In addition to building out products and bringing in clients, we are driving towards our token listing around early April. So this is keeping us busy. I will let you know something, this is the first-ever GBC AMA, and we can’t think of a more suitable place to start than with the Avarta community.
(AV) Thank you for answering all my questions. I think we have a very good idea of what GBC.ai is all about and where Avarta ties in. If you don’t mind, at the end of this session, we will be taking community members questions. Would you be so kind as to select a couple to answer?
Also please share your socials so community members can join
(WD) Thank you. I appreciate your community’s attention, and sure let’s take some questions at the end. Also please feel free to ask in our Telegram community. We also have information on Medium. We look forward to hosting Avarta in our community very soon. I’ll paste the links.
(AV)Many thanks! 😊
Community winning questions for GBC.AI (from the end of the AMA).
Q: Currently attracting real users and mass Adoption is a problem for Blockchain projects. So how will GBC.ai solve this problem?
(WD) Great question. We work in the background, we make everything that uses Blockchain technology more secure, safer and reliable. We can also make it truly decentralized. This will lead to a better user experience with whatever the function and more trusted. In this way, we assist in user adoption as the final experience will be improved and in demand.
Q: Over the past few years many cryptocurrencies have been prone to hacks…what can you assure crypto traders that you has strong security and privacy to prevent piracy, hack?
(WD) Great question. Our token is not live yet and we will be getting the very best external auditors when the time comes. Actually, we will be providing a service ourselves too: “Smart Contract Audit: An AI-powered solution to analyze, measure, simulate execution, and develop improvement recommendations for smart contracts.” We will also be developing “Bridge Guardian: An AI module that monitors smart contract activity and stops any fraudulent or malicious activity once identified.”
Avarta then welcomed their Co-Founder and Chief Operating Officer Hong Loon!
H Gan (HG) Hi, it is my pleasure to do Avarta’s AMA with our community. Good day everyone! I look forward to answering your questions!
What about the Avarta Trust Scoring? How does your protocol determine and measure users’ Trust Scores? What are the benefits if a certain user has a positive Trust Score?
(HG)There are significant benefits to using Avarta’s Trust Score. With the Avarta Trust Score, we use a combination of on-chain and off-chain parameters in a multi-chain manner in order to assign a Trust Score to users on the blockchain anonymously. The parameters will eventually be opened to a DAO community, whereby our community members can vote if a parameter is relevant or not!
In this manner, we can create decentralized transparency across the blockchain. Imagine in a Metaverse world, whereby P2P transactions happen between different avatars. With the Trust Score, we empower users to possess information to decide on whether to transact with the counterpart or not. This is how we aim to bring value to the Metaverse!
(AV) How has the experience and background of your team been effective in the success of your project so far?
(HG)Good question, an excellent team is always the backbone of a successful project.
The team here is absolutely critical, and we are glad to have a world-class team to build this project.
Our team is made up of a diverse team of professionals from the blockchain, technology and financial world. We have a team of 15 members now; with more than half of them focusing on technology, R&D and security. To find out more about our team, please check out our website here: https://www.avarta.io/
(AV)I have to agree with you here 😊
Ambassadors and sponsors have their own power to make a project famous, so have you entered this stage, do you already have ambassadors and sponsors?
(HG) We are currently building up the “Avarta Academy Ambassador Program”. This program serves to help build knowledge of our unique solutions and what it can do for the blockchain community!
Please stay tuned to announcements on this community chat and our official announcement chat: https://t.me/AvartaChannel for the program!
(AV) What in your mind are the most likely reasons people will be attracted to use and to stick with Avarta wallet?
(HG)Excellent question. Avarta aims to be easy-to-use access for DeFi and Metaverse, across multiple chains. Using our biometrics, we aim to build a project that allows users to transact across multiple chains.
With our R&D, we want to allow you to enable transactions using your biometrics. With that, Avarta can be one of the best user-friendly solutions in the blockchain ecosystem, across multiple chains.
(AV) And an excellent answer to my question. Thank you
Is it possible that you will build a highly thriving community, genuinely care and support the project for a long time, rather than just getting a very temporary profit?
(HG)Of course, the community is very important for us and is the key reason for building Avarta. The Avarta Project seeks to balance community involvement and profitability. We are building a series of initiatives to help build the community itself, such as the Avarta Academy.
For Avarta, we are about long term sustainability and the growth of both the project and the community.
(AV) Avarta Multi-chain wallet with Biometric Tech is an amazing concept that someone can avoid complex passwords and seed phrases to remember. Can you explain something more about this? Really excited to learn about this new high technology concept.
(HG) Yes absolutely, think about this as every person’s biometrics is a unique pattern.
We are aiming to allow users to utilize their biometrics for blockchain transitions. Eventually, we aim to build a series of solutions where biometrics is a central tenet of our ecosystem.
We really like projects that are easy to operate, and also for new users there is no difficulty in operating them, so does your own project have an easy operating interface for new users?
(HG) Avarta wants to ensure that our solutions are kept simple and easy to use.
A central feature of our solution is to ensure that the user experience is excellent. This is the main reason around the biometrics for transactions and whitelisting to join DeFi projects. Imagine being able to whitelist through biometrics instead of filling out multiple forms on DeFi projects. That makes access to such projects so much easier.
(AV)That’s really reassuring 👍
Do you have Advisors & Backers for this project?
(HG)Absolutely, it is very important to have strong backers and advisors on the project. For that, we are glad to have strong advisors and supporters from the crypto world with the likes of:
- Magnus Capital
- Marshland Capital
- Master Ventures
- Maven Capital
- Consortium of Tembusu Partners GPs
- GHAF Capital
(AV) Wow. Some really heavy hitters in this industry. Amazing!
Can you list a few standout features of Your Project that make it ahead of its competitors?
(HG) Excellent question
Our unique set of features are around:
- Ease of use, through biometrics to allow for multi-chain transactions and whitelisting
- Revolutionary Avarta Trust Score allowing users to create a trusted “decentralized transparency” on multiple chains
- Storage of all non-custodial NFTs on a single platform
These features are what make Avarta stands out!
(AV) Many thanks to you both for this very informative session. I’ll now unmute the chat for 5 minutes to allow the community to ask their questions. I’ll then re-mute to give you a chance to pick which questions you choose to answer. Please select five questions between you. There will be a prize for the questions you select.
Community winning questions for Avarta:
Q: Avarta is a very excellent project, but the crypto sector is a sector that needs to constantly update itself. Considering this, can you give information about your most crucial project for 2022? i know to much bot will spam, hope u see my question sir
(HG)Excellent question here
Our most important feature in 2022 shall be the Avarta Trust Score. This is a critical part of our ecosystem of solutions, as we can provide decentralized transparency to the blockchain world and encourage P2P transactions!
Q: What do you think the future trend of DeFi is? What is the biggest flaw that DeFi is currently facing? And is the you project looking to solve that problem?
(HG) One of the biggest issues facing DeFi is the lack of a strong framework to set borrowing/ lending rates and collateralization ratios.
With the Avarta Trust Score, we are able to help DeFi lenders better understand the risk profile for lending and for borrowers, improved collateralization ratios and a lower collateral rate!
Q: Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relatiionships?
(HG) Great question on our partnership!
As with strong projects, we aim to partner other strong projects and this is one of the key reasons on why we have GBC.AI with us today.
We have very strong partners lined up towards our launch, so please stay tuned to our TG group!
END OF AMA 27/01/2022
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