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3air weekly AMA, 2nd February 2022 @5pm CET

Published:

This is a transcript from our weekly YouTube live AMA:

Anita Mlakar: 00:29

Hello to all of you and welcome to 3air’s weekly, AMA. We are here with you every Wednesday at 5 PM. And of course, we are doing this on all of our channels. We are happy to have you here of course and to be able to give you some additional information about 3air’s project of bringing internet to Africa.

00:51

If this is your first time with us, I am Anita Mlakar. I am the host of these AMAs. And let me invite you also to be a part of it, to click like, write a comment, write a suggestion. You can write your question in the chat. That is what we will be doing today, answering the questions you can hit the bell icon to get notifications, or you can subscribe to our YouTube channel. Be a member of our communities. We have great communities on telegram on Discord and on Twitter.

01:23

Sandi Bitenc, CEO of 3air will be with us in a minute, we will give you some updates about the current situation and plans. We have special guests coming up Oliver von Wolff, we will give away 1000 tokens to one of you and of course, be answering your questions.

01:41

As always, I am starting with a short introduction. So 3air was born out of the wonderful combination of traditional telecom business model paired with cutting edge microwave technology and brilliant blockchain ecosystem. So 3air is not only about connecting the unconnected, but it is also about banking the unbanked and giving people of developing countries equal opportunities. There are so many bright minds in Africa that just get unnoticed maybe only because they do not have the means to educate themselves or communicate with the world. Connectivity is the problem in developing countries. So, there is the potential of solving those problems by incorporating blockchain technology and Africa is ready for a change.

02:32

It is 3air’s vision to provide this opportunity to such a promising nation. Free access to information is a basic human right and it has the power to change the world for the better. So, what we want to do is connect the unconnected and give them the opportunity to shine to change their lives. And also, to change ours.

02:55

Let me welcome Sandi Bitenc, the CEO of 3air.

03:00

Hello, Sandi.

Sandi Bitenc: 03:02

Hello, Anita. Hello, everyone.

03:04

How are you? How is everyone?

Anita Mlakar: 03:09

Hello, Sandi. It has been a working week, right?

Sandi Bitenc: 03:14

Oh, yes. It has been really a busy week. It is the most busiest week that we had in 3air, there is so much going on.

Anita Mlakar: 03:25

Yes. Are you tired?

Sandi Bitenc: 03:29

Well, to be honest, let me think about it. Not so much. I think all the adrenaline, and everything just keeps me up.

Anita Mlakar: 03:39

Do you know what, if you have to think if you are tired, then you are not probably.

Sandi Bitenc: 03:44

I do not need, maybe I just forget to be tired.

Anita Mlakar: 03:47

Yes. But you look like you have a lot of energy. Of course, you need it to be answering also the questions today and to be chatting a little bit with me. And of course, with everybody here. I am looking forward to that.

03:59

Sandi, we will have a special guest coming up in a few minutes but let us just start with, what we have to start with. We had a big announcement last week in AMA and we were talking about the changes regarding, Of course, the project. And then a lot of discussion was going on, not only on AMA, and maybe later on Twitter, also on Friday, we were on Friday, but also in our community, or mostly in our communities, a lot of questions and of course you are doing great job, the whole team and also you are answering all of them. I also took the opportunity to invite everybody to be with us here on AMA where they are able to ask questions live and also on our Twitter space that we will be having.

04:45

But Sandi, just tell us what is going on right now.

Sandi Bitenc: 04:51

Yes, you are right. There was a lot of discussions, and it was not at all unexpected. So, the change that we made that We announced, it is a big one. But it is also a necessary one. It really is. So, this change, we are talking about it, somebody still did not hear it is the fact that we are moving away from Cardano. And that you are right now in the process of selecting a new chain that will build on. And I have been writing all the blogs, the whole weekend, there are some more coming out about how we are going with- what was the reason behind it and everything. And we will be announcing our new chain, pretty soon. We are actually just there to sign a contract. Everything has been kind of agreed but I cannot announce it. So, it is still not signed. That is one thing.

05:53

The other thing is we cannot preannounce it because if we preannounce it, then no media will actually pick it up. So, media, then they will just say it is old news. So, I am sorry, I would really, really like to tell you which one it is, but I do want to have the additional publicity that comes through media how is this picking it up. So, it might be on Friday. But if not, then it will be latest on Tuesday next week. So, this is for sure coming.

06:29

Also, the other thing that we were talking about is that because we are doing such a big change that we will be offering refunds to the ones that are actually bound really to Cardano maybe invested in 3air just because of Cardano. And of course, we need to be fair and offer them the possibility of an exit. So, this is coming. This is also coming next week, we will have everything sorted out till Wednesday. So, a lot of announcements coming next week. Hopefully another one really, really big one and that is going to be a huge one. So, we have been working a lot on a project. That is kind of also been agreed and it is just before being signed. So, let us see, there will be some minor details probably in the contracts but once that gets signed, it is going to be a huge announcement really.

Anita Mlakar: 07:39

looking forward to the week that is coming up and all the announcements and everything that will be set, I have to take this one Sandi, because it is funny. Are you warning us of something because of your T-shirt?

Sandi Bitenc: 07:54

I have a new T shirt people noticed. It is like, it is choking hazard.

Anita Mlakar: 08:05

It is just a t shirt, right?

Sandi Bitenc: 08:07

It is a T-shirt. Yes.

Anita Mlakar: 08:10

Okay, now, Sandi. I know that people of course want to know what is going on and the people coming in, they are not you know, maybe in the community the whole time. The same questions are popping out every day. And you are answering again and again, to all of them, I am sure that some of them will also be asked today, the same ones. But this is what you are doing right now, is really letting people know about everything, what they want to know, giving the information, educating them, this is a very important part right now. Right?

Sandi Bitenc: 08:41

Yes, you know that we are always running things transparent as much as possible. And I think we should be explaining to people what we are actually doing. Its least that we can do, and I do not have a problem with it until it really goes to some stuff that are really just illogical and just fun. And, but to be honest, we actually only needed to ban one person because it is just the conversation was not going anywhere at all so but else, I need to say that it is pretty okay. In the sense of what usually comes through such changes and through bigger communities. And as I said, so there was a lot of talk about Cardano. I would love to talk more about 3air so please start asking questions about 3air or not about Cardano.

09:55

3air was never Cardano we were there because we wanted to build on Cardano because we were kind of drawn by their narrative, by their whole idea and everything. But for us it was a tool. it is like, I do not know, just imagine you need to go somewhere really important. I do not know your wife is giving birth, or I do not know, you have a million dollar deal you need to do somewhere. So you go in a taxi, and you say the taxi, take me to this place and then you tell him, I want to go the Cardano route. And then he drives and drives and then there is an obstacle or a traffic jam or something like that on the road. And then he just takes another road, but he gets you on time there. But if you would stay on the road with a traffic jam, you will actually lose on the deal? Would you be angry at him? Or would you actually give him a tip? It is like this.

11:06

So, the idea behind 3air never changed. So, it is not that we need to build on Cardano. So, to achieve what we set out, and that is actually to connect people in Africa, we can build on multiple different chains. And as already explained so many times Cardano was our first choice, and it did not work out and I already explained why it did not work out. So, we are just now taking another route. It is the only thing we are going the same direction to the same endpoint.

Anita Mlakar: 11:50

I am laughing a little bit because I am reading the comments. they are really in the good mood today. Also, Richard said, because of course he wants to know, what is the name of the new route?

Sandi Bitenc: 12:04

I was really so I would so like to tell you, hopefully Friday, so it is just two days of waiting. So, if everything is ready for the media announcements, so it is mostly just about the media once they are ready to announce it, then we will go but if they are not picking it up at all, then Tuesday is the last one. So, Friday is the first one that we are ready then over the weekend nothing happens. Monday for media is kind of too busy day to get in some new stuff and so on and then Tuesday is the day that we said that we are breaking the news either way, whatever.

Anita Mlakar: 12:48

Yes. There are a lot of questions of course coming in today and Sandi will be the one answering them a little later, when there will be time for questions and the answers because you can write them down. Of course, there will be waiting for us but right now it is time to welcome our guest.

13:09

Oliver von Wolff is with us, and it is very nice to greet you, Oliver, and welcome you.

Anita Mlakar: 13:17

Hi.

Oliver von Wolff: 13:19

Hi, Anita. Hi, Sandi.

Sandi Bitenc: 13:21

Hello.

Oliver von Wolff: 13:21

Thank you very much, Anita. It was a very nice pronouncing of my name.

Anita Mlakar: 13:26

Was it good?

Oliver von Wolff: 13:27

Yes, it was good. it was very good. I heard many ways, but it was very good. Thank you so much. Also, thank you much for invitation today and as much I heard already, there will be a lot of changes coming up now. Sandi, so we are looking forward to this and yes, so will be very interesting.

Anita Mlakar: 13:48

Oliver we are happy to have you here today for a little bit longer than the last time.

Oliver von Wolff: 13:53

I really have to apologize. This was really between two doors I was in Germany. So, and but just sometimes happened, but thank you very much.

Sandi Bitenc: 14:03

I know the level of engagement that was there. So, I fully understand why you needed to go.

Anita Mlakar: 14:15

Okay, wow we are interested but like he said that the last time we were together, so I thought okay, now he said it again Sandi. So, I was just wondering. Oliver, before we have of course a couple of questions for you. Let me introduce you just shortly so you are a managing director of CB labs Dubai also managing director of Crypto Oasis and CV VC, and you are also the advisor of 3air. Oliver, you have more than 14–15 years of executive experience and knowledge of finance and banking. Master of management and business administration with a wealth of expertise in capital markets investment banking and financial reporting and a proven track record in company transformation and growth and significant experience in international markets through Europe, North America, Asia, and the Middle East.

Oliver von Wolff: 14:15

That is all me. Yes.

14:15

Thank you so much.

Anita Mlakar: 14:15

That is not all, of course.

Oliver von Wolff: 14:21

Thank you very much.

Anita Mlakar: 14:23

So maybe for starters, Oliver, on what subjects are you advising 3air?

Oliver von Wolff: 14:57

Actually, I am advising 3air most likely in financial advisory on the one side, and of course, blockchain and I tried to help 3air with the network what we have here in Dubai, for Africa’s in specific. So, and most likely, I think we have quite a lot of meetings. So, we had quite a lot of meetings and wherever it is possible, let us say from our side, we try to push 3air, because 3air is also like a partner of our ecosystem here in Dubai, and we are always interested that our ecosystem partners are moving forward.

Anita Mlakar: 16:10

Yes. What is your opinion about this idea of banking, the unbanked and everything that is coming with it?

Oliver von Wolff: 16:19

I would see it more like from a macroeconomic perspective Africa has, if you look from macroeconomic perspective, for example, for Dubai, it is always important to have infrastructure, talents, and capital, I will say Africa has capital and also a lot of talents. So, CV labs just opened a couple months ago, in Cape Town, also offices and one of the reasons are because there are a lot of. it is a talent people in the blockchain area. What I want to say with this, it is a bit of pity in the world economy that a lot of people got excluded off the economic chain and bringing 3air to Africa means to bring more people back to the economic chain and to the value of it. Especially if we look for example, at the moment, at least when they have internet, they can have a wallet, and when they have a wallet and internet and they can participate somehow, in buying, selling, producing, and offering their products worldwide. And I think so 3air has a really significant role in this because the technology, what they are providing to Africa is a really unique technology.

Anita Mlakar: 17:34

Thank you. Thank you for this. You are all invited, of course to ask questions. If you have a question for Oliver. I have another one. Of course, you have really a lot of experience in banking sector. Would you say there is a major change or transformation happening right now in this sector?

Oliver von Wolff: 17:54

Yes, there is a major change in this section and unfortunately, it is a bit difficult to forecast it. And I do not have this crystal ball to look inside but there is a significant change coming. I am not saying that there will be no banking in the future anymore. We need the banks that have a central function, but I think the picture of the banks will change. So, we get less, I would say branches of banks, if you just look to Dubai Mushrik Banks has been closed as in 40% of the branches over the last month. And we see that the trend, let us say is going more and more to like digital banks, digital wallets, online portals. So, I think in five to 10 years, the person who still have like a relationship manager by a bank can be very happy, but I think the bank will significantly change. Also, if we look about let us say the fees, and the payments, and especially, has been excluded, for many reasons, that People from the economic system over the last year. So, it is a great opportunity to bring all those people back and to help to make this world a better place.

Anita Mlakar: 19:09

You know, knowing the field of crypto market, and of course transactions. And we are talking about Africa. Now, how is the situation with this crypto regulations in Africa?

Oliver von Wolff: 19:22

That is a very good question. Actually, I am not really a specialist on this. I just can say we have a lot of demand from Africa. It means startups coming from Africa to us they want to open here in the DMCC in Dubai, legal entity to develop things and to bring good things to Africa back. So, most investors to have a bit of an issue about investing directly in Africa, because of sometimes not very clear legal structures and rights. So, they are trying to use Dubai as a kind of bridge to bring the products or the software developments or whatever back to Africa. But we have very good examples in Africa, for example, in Ghana and as well like in other countries who are developing or have a strong developing in the blockchain and in the crypto part and actually, we are very happy that we are getting more and more connected with this blockchain, small ecosystems, but ecosystems and I think that’s a wonderful thing to see how African people are really interested in challenge to build up ecosystem and the blockchain part, together with Dubai with reach Middle East.

Sandi Bitenc: 20:36

Yeah, I was looking at Africa is actually It is hard to speak about Africa as a whole. So, there are so many countries there, Africa is so huge, and the regulation is not really so much in place. I know I have been a lot in contact with Nigeria, and the blockchain communities there and they are actually- because kind of Nigeria goes for the one country that had their eNaira out and they banked crypto, but they said that the end user does not feel it at all. So, everybody is free to use, they actually can use Binance. They use Binance the most. And they also have a local exchange and everything. So, Africa knows that they really need to adopt it, kind of, because it is the only way that they can a bit overtake, or at least go alongside with more developed world. But I know that Oliver knows a lot about regulations here in Dubai, right?

Oliver von Wolff: 21:55

Yes, of course. I know a bit more about Dubai, as you said, Sandi. Africa’s has a very diversified market. It is difficult to really see what is going on, principally we have good examples. That is just what I mentioned. Maybe one it is Uganda, who has built up a very nice blockchain ecosystem and also are great in mining and using Blockchain technologies for the bank accounts, which was most likely mobile phones or telephone numbers for them. So, we see that there is a development and people are willing to go further with this. And they are looking for opportunity to participate in all of this.

22:34

So, about the regulation in Dubai, I can say a couple sentence. Dubai has been done a great job, let us say since most likely 2018 when there was the first future foundation established, kind of Global Blockchain Council. And then already 2018, I think was we got the Emirates Blockchain Strategy. And based on this, Dubai got developed over the last year in a very, I think, process way. Here in the DMCC we have like, more or less four different licenses for the blockchain part. It is the propriety trading crypto licenses there are DIT license we have now very new NFT license and Metaverse license. I know the DMCC compliance management work also in adopting more licenses to the market. So, we see here on the one side, DMCC is one of the most progressive free zones, I would suggest here for Dubai, they have around 10% of the GDP of Dubai. So, they play a big role, I would say for the economy in Dubai, they are very progressive going forward. And of course, the DMCC they have also like a lot of connections to Africa, so the diamonds, gold business and other businesses, most likely commodity, this is originally where they came from.

24:02

But we also see in other free zones here, for example, in ADGM, we have a strong development also now the GBTC started to adopt crypto and blockchain in their kind of licenses. But at the moment, I would say the DMCC is the strongest ones when it comes to the execution of the licenses. So, all over in the UAE we have right 550 blockchain companies, this sounds not so big, but it is quite huge. If we look to Switzerland, to the Crypto Valley, so we name it in Dubai, Crypto Oasis and in Switzerland is Crypto Valley. So, a bit have diversification between these two ecosystems. We look to crypto Valley in Switzerland and Liechtenstein we have like 1050 companies with over 5000 employees. And here in Dubai we have now like 550 over let us say one year. I would say it is a huge development in just the numbers, and 180–190 of them are already like on boarded into DMCC. And more than half of them are with us in the crypto center. So, we see here is going the developing very fast. And, of course, my personal vision would be to make Dubai to the capital city of blockchain and crypto in the world but let us see how this will end but I am very optimistic about, let us say, Dubai, and the UAE in general.

Anita Mlakar: 25:36

And what ways are you attracting companies to come to Dubai?

Oliver von Wolff: 25:40

I mean, the main attractive is not just coming back, I want to use these three pillows is capital, talents, and infrastructure. Dubai has been built up over the last 10 years, a great infrastructure to support startups. We have a lot of talents, especially through COVID. A lot of high educated people, they came to Dubai, and they bring the ideas that bring the visions, they bring the know how to participate in this process and then of course, Dubai, UAE, you find a lot of capital for startups as well. So, that is the right environment. And I would be very happy if we can produce or develop together something like this for Africa.

25:41

I think, for Africa, it is very important. I mean, as more participants on the market as more regulation is needed. I think regulations on developed markets are important at one point but at the moment in Africa, I do not see this topic so much. And I just see they are doing a huge, let us say, groundwork with developing of the ecosystem and blockchain and different technologies, I am very happy to see this. So, talents are in Africa enough, they just have to be get picked up by companies or by governments to develop this further. So, and then capital and infrastructure. Infrastructure get built by 3air, hope, yes In the future and of course, then capital, there’s capital on the African market, they are smaller ticket sizes, as in other countries. So even with smaller ticket sizes, you can have a huge impact to small developments in Africa. That is a great environment to start.

Anita Mlakar: 27:30

There is, of course, great need for common regulations, also in Africa but from your point of view, and your experiences, is that even possible to have this common regulations.

Oliver von Wolff: 27:42

I do not know if it will be a common regulation, if you look to the US or even to Europe, you see, it looks more like a parcel. So, let us see if this parcel will have a completely picture at the end and we all hope it will be a positive one. And but Africa is a huge opportunity for Africa to implement this kind of structure in the economic flow. And as I said, a lot of rulers and leaders in Africa, they understood this opportunity for the country, and I think we will see the very good developments as well.

Anita Mlakar: 28:19

Could we already speak about the impacts of crypto in Africa?

Oliver von Wolff: 28:24

I think the impact we already see because more and more small and middle-sized company who will be outside of the economic flow, they are got integrated. if you just think at the moment, if you produce something, you have to walk from one city, maybe to the other one, it takes 20 kilometers, whatever, half a day, to walk this and with the technology from 3air, it is possible that they have internet, and they get connected. And as I sat down with a wallet or payment system, they will able to participate on this, and this is what happened. I just want to mention Uganda again, I think is a very good example because of the weak banking situation. They implemented the bank accounts over their mobile phones. So, it is a kind of, I do not want to say wallet, but it is a kind of- how to say to surround the traditional banking area and I just think crypto and blockchain will speed up this a bit more.

Anita Mlakar: 29:27

So, from what you said, there is a big potential of 3air and their project in Africa?

Oliver von Wolff: 29:33

Yeah, I mean, it is not only about 3air technology for Africa, I think every region who has a topic with maintenance, or its make digging cables underground. 3air has a solution for this and but especially in Africa, I think, to reduce the costs to provide a good internet to customers or to people there 3air is a very good solution because the investment costs are lower. And let us say the outcome of one of this, 3air tower stations is great to support, like, a range of 50 kilometers or something like this. I mean, Sandi, you know more about the techniques than I do. So that is really a great opportunity. So, it means we have three, four of these towers you most likely can give a whole big town in Africa the opportunity to participate on what is happening in the world.

Anita Mlakar: 30:36

Maybe just this question, Oliver, what is the big role of CV labs and CV VC? What exactly is the role? What are you doing?

Oliver von Wolff: 30:47

I mean, CB Labs is all CV VC’s original and venture capitalist for early blockchain companies. So, we develop full regulated, crypto and blockchain products, certificates for the stock market in Switzerland and besides, we build up together with partners, Europe’s biggest blockchain ecosystem, Crypto Valley in Switzerland and we are doing the same now here for Middle East. So, let us say the capital of blockchain is currently the DMCC. If we look for more like a micro perspective in Dubai, and we want to extend the Crypto Oasis site here or like Crypto Valley here and in the MENA region, Crypto Oasis to also to other countries here and in the MENA region. They are very interesting markets like Bahrain, Saudi Arabia coming up and it is just the right time to go forward with such a project because the demand is here of the companies.

Anita Mlakar: 31:52

Maybe just a little personal questions because you have so much knowledge and so many experiences. You have been in so many companies working with so many people. Do you have any personal goals, that you still want to achieve?

Oliver von Wolff: 32:05

Yes, of course, I have personal goals. But the biggest personal goal is healthiness and happiness. So, and then if you do everything, right, all the good things coming to you. So, but from Crypto Oasis perspectives, we really would like to build up our ecosystem here in Dubai, at least until 1000 companies at the end of this year, and of course, we would like to keep the percentage which onboarded in the DMCC by approximately 30% to stay here and just like leadership role for the MENA region. That would be nice, maybe to open like and offer some somewhere else to get a bit more global focus or UAE focus and but we will see this, I think if you follow the flow a bit, then the flow will show you where the demand for this is. And we are more than happy to expand our ideas and also the ecosystem.

Anita Mlakar: 33:05

Thank you very much, Oliver. Maybe Sandi has another question. Sandi, is there something else you would like to ask Oliver?

Sandi Bitenc: 33:17

I am asking Oliver, constantly questions. So right now, we just spoke before asking everything already for today. Tomorrow another one.

Anita Mlakar: 33:33

Okay. Oliver, thank you very much for being with us and answering all these questions. Of course, stay in the team and give good advice there will be needed and hope some opportunity that we will speak again, also in our AMA.

Sandi Bitenc: 33:48

Maybe if you find something that you can actually answer. You see it on the screen. Mibrody asked a question, Is Sandi is listening to your advice? Am I listening to your advice?

Oliver von Wolff: 34:08

We work on this. Else way there is very resisting. No, we are doing very well, and Sandi and I have a lot of connecting points here and it is not about listening someone it is about focusing on the right solution. And the best thing is always to have a good team behind, and I think Sandi’s 3air there are very good team. So, and it is very nice working together with you guys. And I have to say, 3air is very strong in execution. So, it means it is a very good investment for the future because the guys really, they keep their promises and then move forward. Congratulations to this team and what you did so far.

Sandi Bitenc: 35:00

Thanks, Oliver, and thanks for all your help also. we would not be here without you, that is for sure.

Anita Mlakar: 35:07

Thank you very much and see you and some other occasion, thank you for being with us.

Oliver von Wolff: 35:12

Thank you, guys, also to the community, stay safe. Bye.

Sandi Bitenc: 35:17

Bye.

Anita Mlakar: 35:17

Bye Oliver.

35:19

So that was Oliver von Wolff and now it is time Sandi, of course to be answering some more questions that are coming in and there are some of them or a lot of them. And I am going to start from the top and then just go down to see what people would like to know, members of our community.

35:40

Now, this is the first question, how long will it take to make the program to be used by the end consumer now that a new chain will be utilized?

Sandi Bitenc: 35:50

So, we are a bit a bit late now in on our roadmap but as we are choosing now EVM, it is going to be far easier to develop things and not the community but so in house, we have a lot of developers that can really do the work in parallel, and I am pretty sure that we will even be faster than we set out to be in the beginning. So, there is enough time that we can launch as we set in Q3. And what will be a bit delayed is opening up a new country but let us see, some something might be really coming, and it will not be a big of a delay, let us say like it is better for the platform, I really do not think that it will be late. And the development will go much faster than it was going up until now.

Anita Mlakar: 37:05

Okay, there is a question from Tolga. What is exact situation about token being released now? Ended or still ongoing?

Sandi Bitenc: 37:13

No, the token will be released. And we might even release the token in February, although it will not be immediately usable for trading. So, the vesting period will start when we do the next presale round, so we will do another public presale, but the tokens will be minted. I really think that we will do it already in February but if not, it is going to be in early March. And then we set that by the end of March, beginning of April, something like that we calculate to have another short presale round live for a week only and then then we go live.

Anita Mlakar: 37:58

Okay, now there are a lot of technical questions also in the community. And this is also the one website for setting Meta mask is not allowing to connect wallet, will you just give a little explanation about that?

Sandi Bitenc: 38:12

So how you do it. If you are on a computer, it should not be a problem at all, it is really straightforward, what you need to do is install the Meta mask browser extension. And the next once this is installed, if you refresh the page, you will be able to sign a transaction, it may be that you need to sign it two times is just how meta mask work sometimes you need to sign two transactions. And what it will give you us is your wallet address. So, there will be no mistakes in inserting wallets and then you will have the next option. Either you want to create a new account. And then you will just go through the process that it was there before just without the emails, no more emails will be needed. But if you had an account before, then you need to connect it and how you connect it is that you need to send a link to your email again and connect it through there. We needed to do this because we do not want that people just steal your account. So, if we if you do not need to confirm your email that would be pretty easy. So, this is what needs to happen.

39:29

The other thing is that it is a bit more tricky on a phone. And it is just the trick is that you need to install meta mask as an app. And then you need to open up meta mask and in the menu in the meta mask it says browser and meta mask has its own browser and you then just go and connect. Go to presale.3air.io in this browser inside the meta mask. And also, then when you connect it to your email. There will be a link. So, we are now in the email we are sending two links as buttons. So, the first one you use, if you just want to open it up normally on your computer, the second one opens it up on a phone directly into Meta mask. And if this does not work because not all our phones work the same, then just below it, it is a text string. That is the link, and then you just copy this text string in the Meta mask browser. So, I have been talking now a lot, but it is really not hard. What you need to know is that you need to use if you are on the phone, you need to use the meta mask browser, the browser that is inside the meta mask and everything will work out.

Anita Mlakar: 40:51

Okay, there was some technical explanations, Evangelos is saying please inform us about the development process, this means that it will go back to ground zero?

Sandi Bitenc: 41:02

Not totally. So, some things we will not be able to use, that is for sure, but you need to know that the majority of the development- majority like 60% is actually planning for it and coding is only 40%. So, the planning will stay almost the same. And of course, there are a bit some differences but now lots of most of the planning will stay but the majority of other things is not really reusable. I do not see this as a big problem. So as said in regard to time and costs we will be able to make it up 10 times probably.

Anita Mlakar: 41:47

okay, Danilo is asking what is with giveaways and new year coins on Cardano network?

Sandi Bitenc: 41:54

All the people that participated and won in the giveaways they will be ported to the new app now. So, they also go to the presale app not right now. Do not do it right now it is not ready. We will announce it. And we will send out emails to each and every one. So, if you already have a presale account, you will just be able to log in with your meta mask and connect it. And that is it you will have your tokens, and you will see them there. But if not, then you’ll just reply to the email that we’ll send you and you’ll send us back your meta mask wallet address and we’ll put it into our system and then you’ll be able to connect it without putting any emails or nothing in it, just go on the website connect your Meta mask and everything should be inside, we just need to make some changes because the flow changes we will not be requesting any KYC’s for the winners of giveaways or air drops because we don’t need to. So, this we need to change a bit. So, we will have two different two different flows.

Anita Mlakar: 43:14

By the way, we will be giving away 1000 tokens today too little later.

Sandi Bitenc: 43:21

Let us do it now. The last time when we do it in the end, we usually then just do not get the information in between so. Do you remember who won last week because we did not get the info. So, if you won last week and you are here just writing us. write something in the comment where we can contact you and we will get you the 1000 tokens but let us see today. Let us select someone. Right now, so he has the time, or she has the time.

Anita Mlakar: 43:55

Okay, will you, do it?

Sandi Bitenc: 43:57

I should do it. Okay let us just go with Jo Ga the last two three comments. He had the last three. Jo Ga.

Anita Mlakar: 44:09

Okay, we do need a handle a Twitter handle or something so that we have the right address then to send it to.

44:23

Congratulations. And there is a question because of all the changes is the T-shirt contest still relevant?

Sandi Bitenc: 44:38

It is just a T-shirt. I was not even thinking about it. you know I like the T shirts, and this is actually a new one. And I just put it on. It is funny. I like it. I just do not know if the problem of choking hazard is because he has the mask on and he has trouble breathing or he really wants to choke someone or something like that I do not know.

Anita Mlakar: 45:07

Oh my God. Now I know I am not supposed to ask that, but I am not such a big fan of what is that? Star Wars, right?

Sandi Bitenc: 45:16

That is Star Wars.

Anita Mlakar: 45:17

I mean, I am not a fan. I did not know so much about it. So, who is the hero here in front of your shirt. I know that you will be killing me right now but.

Sandi Bitenc: 45:26

I do not think that he is really the hero here.

Anita Mlakar: 45:30

He is a bad guy, right?

Sandi Bitenc: 45:31

Kind of Yeah. There is another one that I wanted to buy. And it says number one father, that is hilarious. But you do not know if you did not see it, then you do not know probably what it is about but that one is really good one I just I did not buy it because I am not a plotter. So, I was like, should I, have it? then I say no.

Anita Mlakar: 45:59

Okay, so now if I get the Sandi back to the question of Jo Ga because of all the changes, is the T-shirt contest still relevant?

Sandi Bitenc: 46:10

T shirt contest. Okay. Yes. We are not changing any designs or something like that. We will do a bit of redesigning, which is likely nothing else.

Anita Mlakar: 46:26

Okay. Now, there is another question how much EVM engineers does 3air have on board?

Sandi Bitenc: 46:35

Let us see, we have a bit over 40 Engineers, I do not actually know who is the one that really knows EVM but let us have Rock one time again on the call, but it is at least 10. So that I can say it is at least 10 that that are really good in writing smart contracts. So, it is enough and not everything goes actually on the smart contract of what we are doing. So, there is a lot of other stuff that also needs to be done. But yes, we really are good equipped in that manner.

Anita Mlakar: 47:18

Okay, thank you for explaining. So TGE in March? is coming from Lawrence.

Sandi Bitenc: 47:25

Yes, so let me explain TGE means token generation events. So, TGE will be either end of February or somewhere in March and the tokens will be created, the tokens will be put into a vesting contract, we will publish all the smart contracts, the token smart contract will publish the vesting contracts, you will be able to see everything on chain and follow what is going on. And we will also put the contracts up for audits, but the vesting will not start until we actually list on an exchange if we release the tokens upfront people just can go and just start making pairs on some decentralized exchanges and so on and we really do not want this because it is going to be chaos. So, the best thing will start once we provide the first liquidity and have everything set up and that will kind of be in the beginning of April. I think first or second week or something like that. That is the current timeline we are still working out the details because of all the changes that we are making but this should be doable.

Anita Mlakar: 48:47

Okay, there is also a question from our winner today, will some early staking be available after TGE?

Sandi Bitenc: 48:56

Yes, we were talking about this, and we will try to pull the staking upfront just to bring some additional value and we might change that part a bit and really pull it up front, so I am not giving you any guarantees, but we will be working on it. And I think it should be doable Yeah.

Anita Mlakar: 49:27

Now Lawrence Arabia is writing, choose me once for God’s sake. That is for the tokens, but I do remember that I chose Lawrence for something once Lawrence, please do write down I do have that in my head. They remember Sandi. I know that we gave something to Lawrence so maybe it was a book or something when we gave it away Lawrence you tell.

49:55

Okay, let us see if there anymore. Okay, we have a Twitter handle. Thank you very much Jo Ga for this, so the tokens will be delivered. He also says that we are an awesome community. Thank you very much. May the force be with 3air. I know that this is from Star Wars.

Sandi Bitenc: 50:17

Yes.

Anita Mlakar: 50:18

I know that. Petra says, ha-ha, number one further, this is a good one. So, she knows.

Sandi Bitenc: 50:24

This was really hilarious.

Anita Mlakar: 50:26

Petra, you will have to explain it to me. Okay. Now there is another question any idea of token value at launch?

Sandi Bitenc: 50:38

We are working out of the tokenomics. So, it is going to be higher than what we set out to be in the beginning.

Anita Mlakar: 50:50

There is another question, is it expected to reach the soft cap in this last round? Or could we face a new round?

Sandi Bitenc: 50:57

No, we are not doing any additional rounds. So, this is it, this is the one. So, we have enough funds to be able to build the platform, the soft cap is there for us to be able to open up new country and expand faster. So, if the news that I was telling you about that might come pretty soon that we have been working on really for a long time, it is about opening up a new country. So it might be that the country will be opening up pretty quickly, even without us hitting the soft cap. So that would just bring so much additional value. it would be the same as if we hit the soft cap and sold a lot of tokens upfront. But we are actually not doing it and we are still getting the benefits. So that is why I am telling you it is really huge news, but it needs to happen. But either way we are not doing another round. I do not even really like to do this round. But there was so many things happening in between and we really had such a bad market. And we said now we have the time, we need some time to correct things and to set everything up on a new chain. So, we will take this time prepare again and just do another quick round and whatever we get in we will be happy with and then that is it, then we are just going for cannot say TGE now because TGE will have before but we will provide liquidity and the trading starts off afterwards.

Anita Mlakar: 52:54

Okay, I have another question. I just remembered because it was also asked in the community, is it possible for those who are staying in to buy tokens from those who are getting out? There was a question in it if they can buy their tokens?

Sandi Bitenc: 53:08

Well, we will not prevent it. Let us say it like this. But if somebody agrees, and to be honest, I think that will be probably really the cheapest to get the tokens because tokens will not be as cheap as they were up until now but as I said, so we will not be helping you with it we will not be facilitating it. But if somebody wants to switch an account or something like that, that will be possible.

Anita Mlakar: 53:45

Okay. Shah is asking, what is the interest like in Nigeria for 3air?

Sandi Bitenc: 53:54

What is the interest in Nigeria for 3air? that was the question. Whoever I speak to in Africa and tell them what we can bring to Africa is like, wow, when are you coming to our country? so we are bringing to Africa something that is not there. Even if they have good mobile connectivity, it is still different from having a really broadband. And the prices that we will be able to offer are far more competitive and we will also be offering so really high speed. It is really reliable, and we do not have kept data once I mentioned that no data is kept. It is also pinging. You need to know that the faster the internet becomes, the more data is actually consumed. So that’s kind of logical, right? And then the faster the internet is the sooner everybody runs out of their mobile plans. So, it is for sure something that will be welcomed. I am pretty sure nobody would say no to it in Africa.

Anita Mlakar: 55:18

There is a question or maybe a challenge for you. Can you and your team make an explanation video connecting 3air and Meta mask as the majority is still used to Cardano wallets?

Sandi Bitenc: 55:32

Yes. So, of course, we can do, we will do that. It is kind of the same as with the Nami, wallet in Cardano is just that there is a different one, but it is kind of a bit similar. And I do not even know if Nami has a app. So, if you can use it on a phone. Yes. of course, we will do this.

Anita Mlakar: 55:59

Okay. We went through all the question if there is another one, of course, do write it down. But you know, Lawrence is saying that he got the book, but did not receive the emails. So, Lawrence, you should be in contact with us Sandi. How should we solve this?

Sandi Bitenc: 56:23

Lawrence, if you did not receive an email, we sent emails out. So just contact somebody from the team or just contact me on any social media? And let me know, and we will send you the book. No worries.

Anita Mlakar: 56:42

Okay. We did. This is unbelievable. I just wanted to say that we did answer all the questions. And then the new ones came in just a minute. Okay, there is opinion. Maybe we could show it. Exchanging tokens off the grid can give bad results but if we are well convinced with the project we can strengthen our positions, acquiring this tokens, but in the same process as the previous purchase my opinion says Nuno.

Sandi Bitenc: 57:21

Yes, it was a question, so I just answered it. I am not telling you should do it. So, I am telling you. we practically cannot really prevent it. If somebody wants to kind of switch the account, there. And then just connect his own Meta mask to it, that is it. So, then you have control over the account. right now, it is pretty easy to switch the ownership if somebody wants to sell it is not something that we would be able to actually prevent. So, it is up to you, I am not telling you, you should do it. And you should really make sure that you are not getting scammed, and somebody is selling you something that is not there and so on. So, you need to see you need to look at the accountant, everything if you decide to do it. But in case of any doubt, just do not do it. That is my advice.

Anita Mlakar: 58:30

Okay. Sandi, we have another minute, I think is just enough time to say bye. And of course, the last words from you.

Sandi Bitenc: 58:44

You got me there. My last words, right now I am already focused on my next task. So, I have one more call with the US and I need to finish the article. So that is it. My last word is really do not think about the thing that we gone off of Cardano it is nothing that would really make anything different in regard to 3air. How it will function. It did not change any of the team members, nothing really. Mission is the same, everything stays the same. You are just going forward, and we are certain that this is the right path and that things will go much smoother than they went up until now. And even with the chain announcement, you will see the difference. The chain announcement was actually something that we were hoping we would be able to do together with Cardano, but it just did not work out. So, this will be the first thing that will show you that we are really on the right path. I am pretty sure of that.

Anita Mlakar: 1:00:10

Thank you very much, Sandi for those last words, at least for today, of course. And looking forward to everything that will be happening in the communities. Thank you very much for being active. All of your questions are always welcome. And it is nice to see that you are talking about it and asking questions and also answering them in some way, not only the team, but also other in the community. And it is time of course to go on. Thank you very much Sandi. Have a great week.

Sandi Bitenc: 1:00:42

One more thing before you really close it off. I think we could mention the Twitter spaces we will be doing regular Twitter spaces. So, we had pool up on telegram. So, the first one was- which day you would like, and I think just buy a little one Friday one just ahead of Monday. So, it looks like we will be having them on Fridays. And now the poll is up. What time of the day. So, we put this up. I think today in the morning, so it is not even the 24 hours. I think it still might change a bit because now the people that were sleeping before will come and they will probably want some different times but right now it is 6pm Central Europe time, its winning by quite a good margin. So, let us see. I hope you are free on Friday afternoon.

Anita Mlakar: 1:01:43

Yes, we will see. Okay, so thank you very much, Sandi. And thank you all of you for being with us today. Have a great day. And of course, looking forward Sandi to all the information that is coming from you in the week to come.

Sandi Bitenc: 1:01:59

Thank you. Bye