Recap AMA VIC Group with DragonBite

👉Part 1 : Basic Introduction of DRAGONBITE and Guests Mikael Costache CEO of DragonBite,Elvan Yau COO of DragonBite and Andy Chen Strotegic Advisor of Dragonbite
👉Part 2: Guests Mikael Costache CEO of DragonBite,Elvan yau COO of DragonBite and Andy Chen Strotegic Advisor of Dragonbite will answer community questions.
👉Part 3: All members can ask anything directly about DragonBite

Mr Bụt

💥 Dear community, VIC GROUP will host an AMA with DRAGONBITE team

Our guests for today include Mikael Costache is CEO ,Elvan Yau is COO , Andy Chen Strotegic Advisor , Peter Chan is CTO and Florence is CFO of Dragonbite

FlorenceDragonBite 🍀,

Hello

Mickael Costache 🐉,

Hi everyone, it’s a pleasure to be here and discuss our project

Peter Chan

Hi Everyone!

Elvan | DragonBite 🐉,

Chào buổi tối!

Mr Bụt

The group will be muted now for the AMA to Start !!!!!

FlorenceDragonBite 🍀,

Ladies and gentlement

Mr Bụt

Hello guests from Team DragonBite

Mickael Costache 🐉

Let me first give you a quick introduction about DragonBite

Mr Bụt

How do you feel today?

Andy Chen | 🐉,

Hi Everyone!

Elvan | DragonBite 🐉

excellent!

FlorenceDragonBite 🍀

very excited

Mr Bụt

👉Part 1 : Basic Introduction of DRAGONBITE and Guests Mikael Costache is CEO ,Elvan Yau is COO , Andy Chen Strotegic Advisor , Peter Chan is CTO and Florence is CFO of Dragonbite

We’ll start with part I everyone

Mickael Costache 🐉

DragonBite is the solution to a massive and global problem: there is more value in loyalty points, rewards and coupons in circulation in the world than US dollars, yet the majority of these digital assets are idle. The lack of a unified platform for users to redeem and spend their loyalty points means that every year hundreds of billions of dollars worth of assets become stale. 😔

This is where we come in (💡) DragonBite is a universal digital asset management platform powered by Blockchain technology. We leverage cryptocurrencies and DeFi to help loyalty points holders consolidate their earnings, interact with a global ecosystem of merchants and unlock the value of their digital assets.

And of course, the team behind the project is crucial

So let’s perhaps have a quick intro round

My name is Mickael Costache and I’m DragonBite’s CEO (based our of New York 🇺🇸). Previously, I was the Regional Director for the Middle East, Asia and Africa at Espeo Blockchain, one of the leading blockchain development and consultancy studios in the world. I spend a lot of time on the ground in blockchain hubs such as Singapore or Hong Kong and assist companies and entrepreneurs to turn their ideas into working decentralized solutions. I also have strong e-commerce and entrepreneurial experience and the last venture I co-founded has become one of the fastest-growing marketplaces in the Middle East.

FlorenceDragonBite 🍀

I am Florence, the CFO of DragonBite. I have been very excited about Blockchain technology since 2017.

Mickael Costache 🐉,

Florence is based in the UK — our team is global 🙂

FlorenceDragonBite 🍀

I have been working in Fintech company, Bloomberg, for onver 12 years…. built trading platform for Money market, FX and short term debt for the world.

Andy Chen

This is Andy. I have 20 years experience in loyalty and payment (e.g. Mastercard, Airline and hotel loyalty) and now I am the strategic advsisor for Dragonbite. I was on the OKex tour in Ho Chi Minh not in 2018 too!

Peter Chan

My name is Peter, I have many years of experience working for Major SI such as IBM and CSC working on mission critical projects for Banks and government. I also contributed my know how in a couple of international invention patent

FlorenceDragonBite

I am very happy to make DragonBite for loyal customers to exchange any assets into cryptocurrency

Elvan | DragonBite

My name is Elvan Yau and I am the COO of DragonBite. I am serial entrepreneur. I bought my first bitcoin back in 2015 and found the first Blockchain startup in 2017, it was a payment infrastructure allowing people to buy Bitcoin and Ether with Visa and Mastercard.

FlorenceDragonBite

Let’s move to part 2 !!
Mr Bụt

Thanks for the guest introduction we will continue with Part II of the AMA

FlorenceDragonBite 🍀, [21.04.21 21:08]

Thanks

Mr Bụt

👉Part 2: Guests Mikael Costache CEO of DragonBite,Elvan yau COO of DragonBite and Andy Chen Strotegic Advisor of Dragonbite will answer community questions to the form :)

Question 1 : As a community driven project how can I contribute my quota to your success? Do you have a Global ambassadorial Program or Referral Reward System? Do I get any benefit from holding $DRAGONBITE in long-term ?

Mickael Costache 🐉,

Thank you all for your great questions! It was hard to pick but we had to make a choice 🙂

Our COO Elvan will answer this first question

Elvan | DragonBite 🐉

First of all, thank you for your support. I believe the success of DragonBite ecosystem and the value of $BITE aligns. It depends on 3 KPIs:

1) Number of merchants / partners

2) Size of digital asset pool

3) Number of users

The more merchants / partners would provide larger liquidity and hence an increase size of digital asset in our pool. The more assets supported for conversion, the more users would be acquired. These 3 KPIs would create a virtuous circle and as a result more transactions happen in DragonBite. More $Bite would be needed for transaction fee and as the demand increases, value rise. I am very confident in DragonBite and I believe we will grow with the community and get mutual benefits, investors definitely would get benefit from holding $BITE in long term.

Yes, we do have referral reward system helping DragonBite to go viral. 5% of the $Bite token are reserved as referring purposes. Referrer and referee would both benefit in the referral scheme.

Mr Bụt ( Update Soon), [21.04.21 21:12]

Thanks for the reply from the guest, we will continue with question 2

Do you have a plan to attract non-crypto investors to DRAGONBITE and how? What actions to raise awareness about DRAGONBITE in the non-crypto space especially for new users?

FlorenceDragonBite 🍀,

As the vision of DragonBite is to discrupt the logyalty industry using Blockchain and DeFi. We amin to remove the intrinsic inefficiencies of loyal points by allowing loyalty points trun into cryptocurrency.

The whole idea is to facilitate loyalty points’ owner. 95% of the population owns loyalty point but the adaption rate of cryptocurrency is only 5%. DragonBite provides an easy and straight forward way for non-crypto users embrace the crypto space.

As the vision of DragonBite is to discrupt the loyalty industry using Blockchain and DeFi. We amin to remove the intrinsic inefficiencies of loyal points by allowing loyalty points trun into cryptocurrency.

The whole idea is to facilitate loyalty points’ owner. 95% of the population owns loyalty point but the adaption rate of cryptocurrency is only 5%. DragonBite provides an easy and straight forward way for non-crypto users embrace the crypto space.

Mr Bụt

we will continue to question 3 : Can you list killer features of DRAGONBITE that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about ?

Mickael Costache 🐉

DragonBite’s is years ahead of the competition and our key competitive advantages lie in our comprehensive partners ecosystem as well as its characteristic of being open looped and decentralized. We have already gained access to over 50,000 point of sale partner merchants with a 1 million user base.

Mr Bụt
Yes thanks for the response, we will continue with question 4 : Apparently, many blockchain projects are not solving any real problem, they just exist to sell their tokens. What problems exactly is token solving, and solutions are you provide?

Peter Chan, [21.04.21 21:21]

Loyalty programs are literally everywhere. Today, there are more than 95% of the population owns loyalty points.

This triggered us to investigate further and realized there are more value of digital assets (loyalty points, gift cards and gaming assets) than US dollars in circulation in the world.

The existing mechanism is set to discourage you from using them. Therefore, The utilization rate of these assets is only 7%.

You may already realised, there is an intrinsic problem in these digital assets,

1) they are difficult to be exchanged and the gifts are usually not attractive

2) they are hard to be consolidated and

3) they will be expired.

You may already realised, there is an intrinsic problem in these digital assets,

1) they are difficult to be exchanged and the gifts are usually not attractive

2) they are hard to be consolidated and

they will be expired.

You may already realised, there is an intrinsic problem in these digital assets,

1) they are difficult to be exchanged and the gifts are usually not attractive

2) they are hard to be consolidated and

they will be expired.

DragonBite allows Idle loyalty points from different programs can be stored in 1 single application, can transferred and to be redeemed to whatever form of digital assets you wish

You may turn your loyalty points to Bitcoin with upside instead of a kettle.

We lower the barrier of entry for small size crypto investors.
Mr Bụt

Question 5 : Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?

Mickael Costache 🐉

DragonBite’s founders have over 20 years of experience in payment, digital banking, blockchain and investment banking. We have good reputations and great track records in our industries. Our goal is to build a legitimate and healthy ecosystem to grow with our community.

Our mechanism protects every stakeholder in the ecosystem as the teams’ token will be locked up for 30 months.

Since its inception in 2018, DragonBite has collaborated with leading companies in the field of blockchain, loyalty points and gaming. Today, Bite Point can be spent at 50,000 merchants point of sale. (which is quite amazing! 😃)

We are also partnering with banks and major financial services, cryptocurrency exchanges and different blockchain ecosystem. We are the reseller of Steam, Google Play and Apple Giftcards.

This is a real project solving real problems
Mr Bụt

Thanks to the questions from the community and the responses from the guests, we will continue with Part III

The group will be unmuted for everyone to ask questions

👉Part 3: All members can ask anything directly about DragonBite
And now invite guests to choose some interesting questions to answer in Part III
Question : If anybody thinks your project really likes a scam project, and they can’t trust this project. How do you make them believe in your project?
DragonBite’s founders have over 20 year’s experience in payment, digital banking and investment banking. We have good reputations and good track records in our industries.

Our goal is to build a legitimate and healthy ecosystem to grow with our community.

Our mechanism protects every stakeholder in the ecosystem as the teams’ token will be locked up for 30 months.

Since its inception in 2018, DragonBite has collaborated with leading companies in the field of blockchain, loyalty points and gaming. Today, Bite Point can be spent in 50,000 merchants point of sale.

We are also partnering with Banks & major financial services, cryptocurrency exchanges and different blockchain ecosystem. We are the reseller of Steam, Google Play and Apple Giftcard.
Question: The goal of the DeFi app is to create a new financial system that eliminates subjectivity, bias, and inefficiency by relying on programmable terms. Does the DragonBite network support this vision and how does it participate in the DEFI space?
Yes and this is really interesting for our project. We leverage cryptocurrencies and DeFi to help loyalty points holders consolidate their earnings, interact with a global ecosystem of merchants and unlock the value of their digital assets.

DragonBite initiates a disruptive revolution of loyalty customers. We have full confidence to disrupt the loyalty industry and gather customers into our new ecosystem. With DragonBite, users will be able to aggregate all their idle digital assets into one account, convert from one asset into another, sell assets and buy other assets, including cryptocurrency. We will give out BITE to active users who make contributions in the ecosystem and provide incentive to maintain an energetic environment. Point expiration will not be any problem with DragonBite, as users can sell their expiring assets to buy other available digital assets, to top-up other programs or to pre-pay DragonBite card for daily spending.

DeFi allows for a true shared economy where users can also become service providers.
Question : Southeast Asia is a very vibrant market and many project developed here so with your project what do you think about Southeast Asia and do you have any plan to develop here?
That’s correct! Southeast Asia is a key market for us and we have a lot of faith in the market. More generally, we are building a global solution and our end goal is to be the number 1 player internationally, starting with Asia
Question : Now that technology is changing every second, are you afraid that in the future DragonBite will lag behind new projects with newer technologies? Do you have a plan for this?
This is definitely something crucial for any technology project, and especially in the blockchain sector. It is our responsibility to keep up with what’s new, what’s obsolete and make the right decisions. All of us are very involved in the community and make it a point to stay up to date with industry trends as well as solutions that can accelerate our development
Question : What are your plans on GLOBAL adoption? Which country is presently focused on ?
The majority of the existing merchants point of sales are in Asia.

However, our vision is global. As our team based in US, UK, Singapore and Hong Kong. BITE Point will be able to used in merchants all over the world by the end of 2021 as well as the user acquisition.
Question : Can you introduce the DragonBite ecosystem? What services / infrastructure does the DragonBite ecosystem include and what the project is headed for?
DragonBite is an ecosystem for loyal customers to store their loyalty points and swap between each other.

So, users can exchange loyalty points to gift card, in-game assets or cryptocurrency.

DragonBite will also handle the membership account for merchants and provide sales campaign analysis and tool
Question: Now have many super hackers so security, scalability, and data privacy are three aspects that are very important at enterprize level, how DRAGONBITE foundation handle these issues?? Hi
We are keeping and exchanging assets for our customer and protecting their asset and privacy is our top priority.

To do it in a pragmatic manner, we will leverage bank grade technologies from our custodian partner to protect some of the asset.

We will also implement very strong security protection from technology aspects and operation control aspects.

Some of the example protection involve storing asset in cold and warm storage augmented by very good operation and approval proecdure. We will conduct regular audit for our initial end to end security control and continue to perform regular audit of our environment leveraging good practice we can draw from standard such as PCIDSS.
Question : What problems is your project trying to solve to make it easier for Crypto users? Please let us know how evolving the roadmap is right now. What will happen this year and in the future?
DragonBite will offer a way for cryptocurrency holders to spend their crypto in daily consumption !

Also, customers with loyalty points can convert their points into crypto currencies or other digital assets.

So, soon to expired loyalty points will not be a problem any more
Question : What are the plans to educate and raise awareness and adoption among the community to make more people understand about the project easily??
We need to cater to both crypto and non crypto communities in our messaging. The problem we are trying to solve is understandable by most people worldwide. 95% of adults globally are involved in some sort of loyalty system. Marketing wise, we are focused on the crypto community for now but will quickly expand our reach to the noon crypto crowd in order to raise awareness about DragonBite and attrack a large user base to our platform. But you are raising a good point here — this is a mass market project that requires awareness. We are lucky to be very very advanced in terms of partner merchants accepting Bite which is a big incentive to attract users.
Question : DeFi is great. But for DeFi, the gas fee is crazy high on Ethereum. So, any plan to move on BSC or other layer-2 solution?What will the role of the community play in the your project ecosystem? When developing and updating your platform, will you take into account the community’s requests and suggestions?
Good question. Our plan is to migrate to RioChain Q3 2021 to offer a faster and cheaper transcation.

Our role is to make sure the digital assets are diversified enough as well as the liquidity of our asset pool.

We have Duo Token Mechansics: $BITE and $BITE Point

$BITE is a token publicly traded on exchange. It is also a marketing token within our ecosystem, it has 3 main utility: Transaction fee (for every conversion and transaction), Governance (Eventually we will become a DAO. The more $BITE you have the more voting power you have) and Staking reward (For passive $BITE income)

You cannot trade apple to orange. Same case you cannot trade Asiamiles directly to Hiton Honors. An intermediary is needed. BITE POINT is a stable token pegged 1:1 USD, it is the universal medium for conversion
Question : Staking programme is very important for any project, Can i stake your token? Do you have any plan of starting staking programme?
Yes we do have staking program. You may stake $BITE for passive income. Detail will be announced.
Question : Are you a global project or local project? Can anybody anywhere use Your project without any restrictions??
We are a global project. One of the major benefit of Blockchain is it allows seamless and instant transactions over a global settlement network. Our team based in New York, London, Singapore and Hong Kong. We basically covered Asia, America and Europe and area nearby.
Question : What are some of the major achievements that Your Project has achieved and what milestones are planned ahead in the next 6 months, 1 year and 5 years?
We have partners with over 5000 brands with 50K+ points of Sales.

We started building our app, looking forwards to deliver the app within 3 months. We will promote to customers in China in the first 6 months, then go to Asia in the coming year and then Europe.
Question: Vast majority of Crypto projects are built just for the sole purpose of amassing wealth for themselves. So, I want to know the value you aim to add to crypto industry that will bring greater abundance to the industry??
As the whole point of the project is to disrupt the 1.6T loyalty industry. We stand with the public and our goal is to preserve your purchasing power.

The majority of BITE will be contributed back into DragonBite ecosystem. Within 62.5%, 32.5% circulate in the ecosystem, 10% as fee for partner acquisition, 5% for marketing, 5% for new member referring and the rest as reserve.
Question : Did you raise funds so far? If so, how did you handle them? Are you planning to do any f Plasm re raises??
We finished our private round in just 2 days!

We start building our APP now.
Question : Ambassador programme also help promoting one project to communities in need of it even to the world at large. ? Do you plan to organize one?
We are partnering with different Ambassador / crypto KOL from different community / youtube channels / media all over the world. As they feel the pain and the problem of loyalty points.

Loyalty points will be expired, they are scattered, hard to manage and consolidated. The gifts are usually not attractive and the value will be discounted.

Our team are confident and our supportors believe in us. We all know the problem and we are ready to tackle it.
Question : What are the plans to educate and raise awareness and adoption among the community to make more people understand about the project easily??
Our User interface is to be extremely straight forward to understand, it is for crypto layman as we understand 95% of the population owns loyalty points and only 5 % of the people has adapted Crypto. Our mission is to pour the 95% pool into the 5% world
Question : I am a crypto investor and I only care about prospect of a crypto that I chose, tell me the reason why I DragonBite choose your project over the existing one ? What is your coin advantage that can convince me to change from my favorite token ?
Simple. We are legitmate and we have done many preparation work. Today, BITE POINT can be used in 50,000+ merchants point of sale.

We are ambitous and we strongly believe our project will disrupt the loyalty industry. We provide real life use cases.

For example, you need 1000 asiamiles to redeem a flight ticket to tokyo, but you only have 900 at the moment, you can convert your hilton honors into asiamiles. You could also convert loyalty points to crypto or convert crypto to merchants’ giftcard.

The more transcations happen in our ecosystem, the demand of $BITE would also increase. Hence the value would also increases. It would be the smartest idea to invest in $BITE
Question : Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project??
I believe langauge should not be our barrier with nowadays technology. It would be the last thing we worried about. Blockchain already removed the location restrictions. There should be nothing to worry about.

Our partners are all over the world with different background and we will takecare of this without a problem
Question What is the vision and mission of DRAGONBITE ? What problems are you to solve? Do these problems remain unsolved with the existing public blockchains??
DragonBite is a truly open decentralised Asset Management platform for customers to store and swap all kinds of digital assets in One App with One password! Our vision is to disrupt the loyalty market with innovative business models and technology.

Pls go to our TG group to find out more

https://t.me/DragonBite
MrBut
Thanks to the questions from the community and today’s responses from the DragonBite team
AMA END