šPart 1 : Basic Introduction of Verso and Guests Mr.Gregor Ann is CEO of VerSo
šPart 2: Guests Mr.Gregor Ann is CEO of VerSo will answer community questions.
šPart 3: All members can ask anything directly about VerSo
šPart 4 : Quiz with Verso at VerSo Viet Nam
Mr Bį»„t
@rogerg8001 šhello sir , nice to meet you here
GA [I never DM first]
Hello everyone, itās a pleasure to be here!
Mr Bį»„t
how do you feel today? @rogerg8001
GA [I never DM first]
Very good, thank you. Excited to speak to Vietnamese community!
Mr Bį»„t
We can start the AMA now!!!!!!!
š„ Dear community, today VIC GROUP will host an AMA with VERSO team
The group will be muted for the AMA to take place
Hello everyone and Guest before entering the AMA we would like to summarize the AMA today we are comprised of 4 parts
šPart 1 : Basic Introduction of Verso and Guests Mr.Gregor Arn is CEO of VerSo
šPart 2: Guests Mr.Gregor Arn is CEO of VerSo will answer community questions from to form
šPart 3: All members can ask anything directly about VerSo
šPart 4 : Quiz with Verso at VerSo Viet Nam
And now we are going to part I
šPart 1 : Basic Introduction of Verso and Guests Mr.Gregor Arn is CEO of VerSo
Please invite guests to briefly introduce the project and themselves @rogerg8001
GA [I never DM first]
Hello everyone, really happy to be here today and speak to Vietnamese community. Let me give you a short introduction about Verso:
Verso, a decentralised marketplace for financial products. We build Verso to bridge the gap between DeFi and traditional, regulated finance. Verso solves an industry-wide distribution challenge that has been preventing innovative microfinance and decentralised financial products from reaching retail customers across markets.
I have been an evangelist for inclusive financial services for many years and Iām passionate about emerging markets. I launched the first social payments app in the Philippines prior to starting Wallet Engine, a Singapore-based wallet-as-a-service provider that powers embedded finance in cross-border apps.
These are a few words about Verso and myself š
Mr Bį»„t
Wow, thanks for the introduction of the project and my profile
we will continue with Part II of the AMA
šPart 2: Guests Mr.Gregor Arn is CEO of VerSo will answer community questions from to form
Come to the first question : The world is ready for a quality leap in dapps technology, will it be a turning point or should we not expect quality growth in the coming years? Will you fully support all blockchains with dapps? @rogerg8001
GA [I never DM first], [26.04.21 20:07]
Our aim is to bridge that quality gap by providing an easy-to-use UI and smooth user experience in contrast to how interactions work these days with different wallets (e.g. Metamask, Trust wallet). Each of those support only a handfull of blockchains and only a limited amount of functions. Our blockchain solution is fully open to anyone to participate as long as they satisfy the quality and legal standards, no matter from what blockchain the DeFi provider is coming from. At first, our focus is on major blockchains like Ethereum, Binance Smart Chain and Avalanche. In a later phase, and depending on the need for specific DeFi products, we will also start looking into other blockchains.
Mr Bį»„t
Well thanks to the guest answer we will continue with the second question: What is the mission and vision of VerSo? @rogerg8001
GA [I never DM first]
Okay. this one is a bit shorter š
Our mission is to make financial products more accessible to people who need them, particularly in the area of microfinance. We envision Verso being an industry standard to distribute microfinance products in a scalable manner by connecting locally regulated e-wallets and banks with financial service providers, such as insurance companies, lenders, DeFi providers, etc.
Mr Bį»„t
Yes, thanks for the short but wonderful answer, we will continue with the third Question: Can you tell us the motivation and benefits for investors to hold #Verso token long term? What plans do you have to help drive demand and scarcity for the token? @rogerg8001
GA [I never DM first]
Great question. First, let me zoom out for a bit:
In frontier and emerging markets, regulated e-wallets play a vital role in providing people a digital access to the economy.
However, many e-wallets are restricted to store of value and payment functionalities. Enabling microfinance like sub-$100 instant loans, 3-day travel insurance, or short-term yield products often doesnāt make sense economically given the many counter-party integrations required and complexities in processing these products.
We experienced this ourselves as we have been in the e-wallet business for several years. We built Wallet Engine, a Singapore-based in-app wallet provider for cross-border apps. This is how Wallet Engine became a founding partner of Verso and helps Verso to accelerate their go-to-market.
Mr Bį»„t
Well thanks for the response from the guest, we get to question 4 which I find quite interesting. Question: Security, scalability, data privacy are very important how do you handle these issues ?? What is Verso marketing plan? @rogerg8001
GA [I never DM first]
Verso is a solution for the regulated industry and in order for banks and regulated e-wallets to connect to Verso, compliance and security has been a key element in every aspect. We want to enable the distribution of innovative products but in a way that is compliant with local markets. Our background is in regulated financial services and while we see the benefits of many new DeFi products, we also understand the limitations when it comes to integrating these products within traditionally regulated frameworks.
Mr Bį»„t
Thanks for the answer, we will get to the final question that concludes part II AMA. Question: What are the key milestones on your roadmap ā both things you have already achieved and things that we can look forward to? Any partnerships and short / long term technical milestones that you want to talk about or bring some attention to?
GA [I never DM first],
We are incubated by TrustSwap and Avalanche, which provides us with first-class access to relavant partners. One of the key partnerships is with Wallet Engine, but there are many more which will be announced at the given time.
In terms of roadmap, we expect to have a first live product being distributed through a regulated e-wallet by end of 2021. All the partnership for this are in place and the development roadmaps are currently being fine-tuned.
Mr Bį»„t
Yes, thanks for all the questions as well as the answers from the guests
Note everyone before going through part III of the AMA we will have part 4 of the AMA, a quiz program with Verso.
šPart 4 : Quiz with Verso at VerSo Viet Nam
Everyone Join group first because part 4 will take place at VerSo Vietnam group
Back in part III of the AMA, the group will be unmuted within 1 minute for everyone to ask questions
Question : Most of users are still not aware with blockchain & its related projects! So, How this project platform create awareness about their project with non-crypto users too?
Verso is an industry solution for financial service providers (e.g. insurance companies) and e-wallets to make it easier and more cost-efficient to distribute microfinance products. People do not need to understand Verso ā Verso is the humming machine behind so that people can see DeFi and microfinance products in their existing wallets.
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?
thatās why Verso is built on Avalanche ā the foundation for microfinance (costs are small, like BSC, but decentralised)
Question : I was exploring your website and i couldnāt find your roadmap. Do you have one? Could you share it? I am curious to know your plans and strategies for this 2021.
there is a roadmap on our website. here is the website: https://verso.finance
Question : Essentially, most of the problems youāre solving would be solved when ETH 2.0 launches by end of the year. How do you fear Verso Finance would become redundant then?
Verso is not its own blockchain. We build on top of Avalanche, our next focus is Ethereum (once the gas price problem is solved), or even BSC.
Question : Adoption is a challenge for any blockchain project, especially in this sensitive period of the entire market when many blockchain projects die because only a few are using their platform. What is your teamās strategy and vision on this issue?
Great question. Verso is a marketplace but for industry participants (B2B). We aim to connect DeFi to traditional finance in order for people to conveniently get access to innovative products without the need to understand technology and security details.
Question : Smart contracts are prone to failure and many projects fall victim to this, costing users money and the project discrediting. How reliable and secure is your smart contract? Have you audit it through any of the parties?
We are very aware of that. Verso is built for the regulated financial service industry and as such, we are very much aware of the reputational element. This starts with the smart contracts used on the network, but it also includes a specific validator function to ensure there are only legit and compliant products on the networks. These validators have to stake a significant amount of VSO in order to perform validation work.
Question : Unfortunately there are too many scam project Nowdays. How we can trust you and sure that there is no chance of scam?
Itās always important to do you own research carefully. We have had a lot of interest in the past week and weāve already seen āfakeā telegram channels and sites pop up. the official website is https://verso.finance and all official social media channels are listed there.
Question: Many new projects made a good impression at first but were suddenly abandoned. How will you manage the project and token to gain a place in the market and become a best token in the blockchain world?
Verso is an industry solution and we are in a reputational industry. We provide complementary elements to all our existing partners, e.g. more products and customer value to existing customer of Wallet Engine, higher adoption of DeFi products, more opportunities to bring microfinance products to market for financial service providers. The outcomes are long-term.
Question : What are your approach to Community growth and plans for Community governance Model?
We very much believe in a community-driven development approach. First off, we are keen to hear from people what products they need (e.g. sub-$100 instant loans, 3-day travel insurance, etc.) and we prioritise the product-related smart contracts and ecosystem partners based on these needs. Secondly, the Verso ecosystem will be community-governed after an initial phase. We expect to announce more on that in 2022.
Question: Do your team have a professional background and sufficient experience in different fields? As the project develops, will new members from different sectors be added to your Team?
We just started so we are still early. As such, we do plan to get more people on board with relevant expertise and the passion to change things towards more financial inclusion.
Question : Presently as at today, can we possibly use your token in real life for payment? any plan for increase use cause for the token?
VSO is not a payment token.
Question: Could you give us an overview of the tokens? How the token will be distributed and when TGE? Will there be a burn buy-back plan to maintain the supply?
please refer to our white paper -> https://verso.finance/docs/Verso_Whitepaper.pdf
Question : What is the most outstanding feature of the platform? Could you clarify the use cases of that feature?
OK. In terms of features, itās important to recognise that Verso is not launching new products. Verso is just helping to distribute existing products at a higher scale with lower cost. In other words, there are many great DeFi (and CeFi) products, but the problem is the distribution. Itās too complicated for most people. So Verso simplifies this by enabling existing apps (regulated wallets, regulated banks) to retrieve products they feel work for their users and based on local regulatory requirements.
Question : What is your current main market globally? How are you planning to expand globally and how do you plan to attract investors around the world?
We are global but when it comes to the ecosystem participants who are regulated, it adds a local component as well. Our first regulated e-wallet partner using the Verso platform is based in Singapore. However, globally, there are over 3,000 e-wallets ā we expect to have a strong initial focus in Southeast Asia as these are markets we have come to know well by building Wallet Engine.
Question : Would you agree with everyone that community is everything? How important is the community to you? How can we collaborate or help you to develop the project?
I would agree that community plays a vital role in developing innovative products. It is also a paradigm shift of how products and ecosystems are built. It is fascinating but it still has to be practical. In the case of Verso, we plan to establish full community governance in 2022, working towards a DAO.
Question : Staking programme is very important for any project, Can i stake your token? Do you have any plan of starting staking programme?
We will announce LP and staking opportunities at the given time.
Question : At this moment so many things, which one the most Necessary for your project:
1. Investors
2. Community
3. Market/Exchange
and why?
Thank you for this question! Community is very important at this point. There is no point of building new distribution rails for microfinance if we donāt know what products people really want and need in different markets. Essentially itās also the community which benefits by using their existing e-wallets and banking apps to access new DeFi and CeFi microfinance products. Conveniently and simple.
Question : Is your project fully decentralized? There i see many projects claiming to be fully decentralized but they done their work in centralized club. How can we sure that you are fully decentralized?
HI Kassandra ā YES! fully decentralised from the get-go.
GA [I never DM first]
Thank you all for these questions!!! unfortunately I canāt get to all of them today. I picked them quite randomly, so please apologise if I didnt get to your question. š
Mr Bį»„t
Yes, thanks for the guests and all the questions from everyone joining AMA today
Mį»i ngĘ°į»i chĆŗ Ć½ chĘ°Ę”ng trƬnh AMA cĆ²n phįŗ§n 4
šPart 4 : Quiz with Verso at VerSo Viet Nam
AMA END