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3air weekly AMA, 23th February 2022 @5pm CET

Published:

This is a transcript from our weekly YouTube live AMA:

Anita Mlakar: 00:26

Hello, everybody and welcome to 3air weekly AMA.

00:30

How are you today? I hope you are as good as we are. I'm in Slovenia, and Sandi will be with us from Nairobi, where he is attending Africa Tech Summit, and today was a very important day. More in a couple of minutes but we won't be alone today. We have a special guests too. So, prepare your questions, get involved and participate.

00:54

Of course, don't forget to click like, Share this AMA with your friends, write a comment and hit the bell icon to get notifications. You can also subscribe to our YouTube channel be a part of our communities on Twitter, Discord, and Telegram.

01:10

My name is Anita Mlakar by the way and let me start with short introduction of 3air and the project of bringing broadband internet to Africa.

01:19

3air blockchain platform will provide an easy to use blockchain based ISP management system with integrated proven security, transparency and low fees needed to operate a successful telecom. The whole project is divided into three stages:

  1. Create a market with building out broadband infrastructure in Africa with K3 partnership.
  1. Building the blockchain ecosystem and
  1. Expanding the platform with additional functionalities and onboarding multiple ISPs.

01:52

For our development we have chosen to build on a SKALE blockchain. Cities of Africa are vibrant, dynamic, and full of people running around with mobile phones. Yet there is almost no true broadband connectivity. Cities have grown too fast and without real connectivity plans. So now it is impossible to dig trenches, lay cables and provide fast and stable Internet. The lack of internet in this region has also a social and economic impact, including the way citizens interact with the government, with businesses and with each other.

02:26

So 3air's vision is to make broadband connectivity available to the masses that is easy to access through its blockchain based platform.

02:34

Again, let's welcome Sandi Bitenc, the CEO of 3air.

Anita Mlakar: 02:38

Sandi. Hello, and welcome.

Sandi Bitenc: 02:41

Hello, everyone. How are you?

Anita Mlakar: 02:45

I think everybody's doing great Sandi. So, am I but how are you tell me?

Sandi Bitenc: 02:51

I am good. I am tired, but I'm good.

Anita Mlakar: 02:55

This is such a nice tiredness. Right? Because you had a busy day.

Sandi Bitenc: 02:59

It's going to be really nice I can lay down and sleep a bit.

Anita Mlakar: 03:05

Okay. Like I said at the beginning Sandi, you are not in Dubai, you are in Africa in Nairobi, because you're attending Tech Summit, African Tech Summit. And not only today, but all of the days that you have been there and still will be our very special and very busy, right?

Sandi Bitenc: 03:26

Yes, I have to say that I'm positively impressed. I didn't think it would be at that level as it is. So, the event is sold out. There are no more tickets to get, and it is quite busy. And the level of attendance is really good. It's not a specialized blockchain event. It's a general tech event. So, it has a lot of talks about blockchain and crypto. And but it's also a lot of talks about regulations, not only in crypto, and that space, but it's also about telecoms, there are a lot of telecoms here. And other general investments, FinTech’s banks.

04:16

There's a lot of VC funds, there is actually an app where you have all the attendees, and they have their profiles, and then you just go through the app. And then it just went through to the older VCs and setting up meetings. Had today already some good contacts. And the best ones are always the ones that actually come to you first. As I said, I'm really positively impressed. So today, it was kind of the first official day.

04:49

Yesterday, it was a pre event with some workshops and then in the evening there was a meetup, so a networking event. I cannot believe how loud it can get without having any music. So, I literally needed to scream all the time to people to understand me and there was no music. So, it was just people talking. So that was happening yesterday. And today I was on a panel, I was sitting together on a panel with two big telecoms. So Liquid Telecom and Safari Telecom and I was sitting together also with the representative of Google. And tomorrow, I have actually a personal meeting with him also. Let's see, what comes up.

Anita Mlakar: 05:44

But they want more of you. So, this is not the only panel that you have been attending or will be.

Sandi Bitenc: 05:51

Yeah, I was actually invited then just after the first one. I was invited to a second panel that's going to be tomorrow. They just added me to that one. I think this one is at around 11:30 or 11:45, something like this. I think so. And it's going to be on Web 3, I need to look through it, what exactly it is but the Web 3 is already good for me. So, I just need to see more specifics on that one. I'm looking forward to that. There was a picture today that Hilina I think posted where we were together with the head of Binance Africa. So, there's also a meeting happening there afterwards. And yeah, I'll be with one of them on the panel tomorrow.

Anita Mlakar: 06:46

Okay, so the whole team is working hard Sandi there and you're doing a good job. We will be talking about it a little bit later. And of course, we will be here for your questions right now we have a special guest today and we will be talking about well, we have good news. Mohamed Nasrallah K3 operation manager in Ethiopia is with us.

Anita Mlakar: 07:09

Hello, and welcome.

Mohamed Nasrallah: 07:12

Hello, Anita. Hello, Sandi. Hello, everyone. 3air community from our side as well.

Anita Mlakar: 07:21

You are in the good mood also.

Mohamed Nasrallah: 07:23

Definitely. It's been quite a week for us here. We have some good news, like Sandi previously announced regarding signing an MOU here with an investor for $10 million. So, Sandi, has been working hard so much. I probably got the first two days where I'm a bit relaxed right now. Till tomorrow.

Anita Mlakar: 07:50

Okay. Now it's time maybe just to relax but we will be talking about what has happened. So, Sandi and Mohammed. The big news, like you said is that 3air and K3 telecom secured $10 million investment to expand in Ethiopia. Now Mohamed, you have managed the Ethiopian investment locally. Please do tell us a little more about it.

Mohamed Nasrallah: 08:17

We've been working on this for quite a while. On Monday we signed the agreement with one of the biggest investors and most influential people in the country for $10 million. The investor himself is extremely serious to have this done that by tomorrow morning. K3 Ethiopia as a company will be registered as in the process has been prepared all the papers and the registrations legally, we'll be done. Our hopes are by the end of March, we will start operations as in Backbone operations, training people and start to set up an office and all of this. The market here is really a sum. I've been here for a year. I moved to Ethiopia for almost a year. I've been trying to get a fiber or an internet connection, a fixed line into my house and I'm in the middle of the city. And I still have not managed to get through the company, even right now I have been using a hotspot and everybody's complaining about this.

Anita Mlakar: 09:41

Okay, so now you are a part of the solution. K3 and 3air are actually going to change something there. And this must be a good feeling, Sandi. Very important, of course for the whole project.

Sandi Bitenc: 09:56

Yes. So, I've been kind of busy this for a while I knew it was coming but it was always like this little detail and this little detail and so on. It's, it's crazy, I need to really praise Mohammed, how he handled this, it was really amazing and now that this deal is done. 3air just gets to another level together with K3 and it needs to be said that this investment actually brings all the benefits to 3air without actually giving out and diluting the tokens.

10:44

So, for the token holders, that's probably the best news ever and we are just right now on track of opening up in big new country and it's also a country that has not a lot of competition there because Ethiopia, until recently was totally closed down. And it was actually only one operator that was providing the services. There is Safari com also entering right now into the market but as we are on another level of the services that we are providing, in regard to broadband connectivity.

Mohamed Nasrallah: 11:33

Sandi. Yes, on the broadband connectivity, that's one of the things we're providing but we also are providing different services that not a single company or bundling together or can provide, we are providing our TV solution for our customers as well and IP telephony an additional to different securities, which probably no one has in the market at all.

Sandi Bitenc: 12:02

Yes, that's true. Maybe we are not talking enough about that. So, we are always talking about broadband, but we do actually offer additional services. So that are for sure really important because comparing current TV, almost everybody is using DSTV. That's a satellite operator, it's really an old technology, having a satellite connection, you may get a signal and when it when it rains it'll be really a bad signal but it's only one way communication. So, there is no option of ever having a on demand video or something similar, but we can provide that, right?

Mohamed Nasrallah: 12:51

Yes, we are already on, and the services are all integrated together. And I've done some research and I’ve showed our TV because I do have access to the TV, I've showed it to a couple of people in this. People are willing to start paying the money immediately. Just give us even if you guys are not connected yet in the market. Give me access, I'll pay you. I was like guys, this is just for demo. We're coming soon.

Sandi Bitenc: 13:19

I've been asked so many times about Ethiopia, specifically. Ethiopia, itself is quite developed, but they're really lacking in connectivity. For instance, here in Nairobi, the situation is far better than Ethiopia. And it was really the funny thing and I think we already spoke to this, some time ago that you can get a cable connection somewhere in in Ethiopia in Addis it is possible but most of it what I've seen, the cable connection works really far worse than any mobile connection there actually. So, when I have calls with somebody from Ethiopia, they usually come and connect first with a wired connection. And usually that one isn't working and they're just switching then to mobile. And of course, they don't want to use mobile because that uses data. So, the cable is limited by my data plans. So, it's the other way around as well.

Mohamed Nasrallah: 14:32

None of. that's true, Sandi, I've even seen it with the cable connection, if the electricity goes down not only in your house and the area the switches of telecom that are providing you also go off, your connection is totally dead even if you have a generator at your house. This is one of the things, I was asked about during the negotiations and this will this also be a factor, will we be affected by this? I was like guys, we do provide 24/7. we are always on, we will never be affected by disconnection of electricity or anything. And people will really pushing to have this done.

Anita Mlakar: 15:20

Yeah. So, it's really good news that this will be done. According to data, Mohammed and Sandi, there are around 115 million people there and it is estimated that we are and K3 could potentially reach about 3 million households and businesses in Ethiopia. Is that so?

Mohamed Nasrallah: 15:40

I would assume, yes. I went out of others last weekend, and the construction of new homes, new areas is really crazy. I pass through a couple of streets where we have over 10 or 15,000 units that are still being built within a couple of years. I am assuming the number is not a crazy number or it cannot be done. Definitely.

Anita Mlakar: 16:14

That's great. That's really big number. Now, could you tell us a little more Mohammed about negotiations you said? Because you do know, Ethiopia, You are there, You know the market, You know how to handle it, Was it difficult? Or what was it you know that made investors believe in the project. Of course, you, You are the one who had, let's say a very important role but what was it about the project that said this is the project that we want to invest in?

Mohamed Nasrallah: 16:46

Look, to be honest, the negotiation started, we met a couple of investors not only one person. All of them have different types of businesses but they knew that the market here is going into the technology side. And everybody's eager to get a piece of that market. They have the money, and they know that the country is growing, infrastructure is extremely important. Everyone knows with COVID, and all of this people are working from home different connections. So, connectivity is really important, and the pain is one. Like Sandi, mentioned, cable connectivity is worse than mobile connectivity. And mobile connectivity is not always stable. It depends on the number of users you have in a specific area that is also affected. When we showed I shared some data from different operations from Sierra Leone. Technically, I even showed them I provided a couple of units of the TV services. We discussed the financials and all of this, it took a bit of time, because this is the process here that investors do like to do their due diligence and all of this, but we were successful. And we got several different offers from more than one investor. We decided on one, we selected somebody who is very well connected, has the finances and all of this to make sure that this project will be success. No doubts in that. It's been since probably September that we started the talks up till today.

Anita Mlakar: 18:42

Great, congratulations. Now, Mohammed, you have said you were now mentioning Sierra Leone. K3 has already started a project in Africa in Sierra Leone. So, what are the experiences there?

Mohamed Nasrallah: 18:54

In Sierra Leone, we've been there for approximately two and a half years. We are the market leaders related to the number of clients, market share and all of this and our services are extremely sought out like every single person we're talking businesses, banks, embassies, even gamers right now are connecting to our network because of the stability and because of the speed and the quality of service. And Sierra Leone is something that I'm not bragging I also started the operation there so I'm happy about that as well.

Anita Mlakar: 19:44

Well, your work is just amazing. Could you share us a little bit tell us and share a little bit about the technology that is being used and will be used?

Mohamed Nasrallah: 19:55

Our technology just so that, not to go in to extreme technical details, it's practically a fiber cable but through wireless connectivity, it's not affected by weather you get the same speed as a fiber connectivity. Setting up the network takes approximately three weeks after the equipment arrives in the country, it doesn't take a long time, and the coverage is immediate, to the range of the equipment. One of the other benefits, I know I'm talking a bit more about the TV than the broadband part. We do provide HDTV connectivity and it is not affected by the speed of internet that you are taking. This is something new. Like we do have movies on demand and all of this and this is requested as one. And as you know, our services is not only per household or per business, but also it affects the whole family. It doesn't affect only the household. It affects the students, it affects the business owners, it affects everyone.

Anita Mlakar: 21:19

Yes, absolutely. We do have some questions also from attendees. We did in a way answer to this question but still, Richard is asking how many people can be connected with this large investment?

Mohamed Nasrallah: 21:37

To be realistic when we start our goal as the first year as between households, and the businesses. And when I say the first year, I mean from the day we start operations, we need to take into consideration we have six months where the operation is being planned, we are not selling to any customers but within the first year, we're expecting somewhere between 5000-8000 customers connected. This means if we want to say how many people will be affected, we are talking between 20 to 25,000 people, at least because if we consider for individuals per household, we are going to be and then the sky is the limit once the operation is ongoing. There is no limits for what we can do.

Anita Mlakar: 22:34

That's so nice to hear. Here's another question Michael is asking. Mohammed does K3 achieve its goals apply as planned in the business plan? Or are you already exceeding expectations?

Mohamed Nasrallah: 22:48

Look, the business plan is an estimation. I am happy to say that we are exceeding expectations, but we usually like to announce the business plan because any better news is good news. Nobody would complain if you're doing better than you doing worse, correct, or no?

Anita Mlakar: 23:10

Yes, it's true. Michael is also asking, but does the connection become less the further away you are?

Mohamed Nasrallah: 23:21

Look, the plan for Addis Ababa is we are going to have approximately 90 to 95% coverage, immediately as we start. As long as you're within the transmission range, the further you are from the tower or the closer, it doesn't matter. Once your signal is stable. Your connectivity is you get what you pay for, you get perfect connection.

Anita Mlakar: 23:57

Okay, now you did say something about when you are going to start and what this first action will be but just to explain us a little more about this. What can we expect let's say in next month and then in a year time of course when will be the official start?

Mohamed Nasrallah: 24:15

Do not quote me officially because the process in the country is a bit complex. We are starting tomorrow with registration in commerce and in telecom, to start having all the official papers that could take two weeks up to two months to be very honest. I'm not sure exactly because this is the first time, I set up a business in Addis Ababa but hopefully it will be false according to the consultant. On average, it might take between three weeks to a month. Once that is done. We will start with setting up an office training the people on the ground having our technical team visit the country to do proper planning within this time equipment will be ordered. And being prepared to come into the country, this usually takes between three to five months. Once the equipment is in the country, within three weeks, we do have an announcement and embed that we are live, and we will have our company working full at.

Anita Mlakar: 25:33

And there must be a special celebration for that.

Mohamed Nasrallah: 25:35

Yeah, definitely.

Anita Mlakar: 25:38

For the first connection. Now, Sierra Leone, Ethiopia, what is the next one? Can you say?

Mohamed Nasrallah: 25:46

I would leave that to Sandi, because on his efforts I am willing to travel anywhere to start immediately.

Anita Mlakar: 25:56

Well, Sandi.

Sandi Bitenc: 25:57

See, the first thing is what I wanted to say I'm flying to Addis once there is a party, I won't be missing the party.

Anita Mlakar: 26:06

Me too.

Mohamed Nasrallah: 26:06

Sandi, I will invite you to the party even before we start, no problems.

Sandi Bitenc: 26:14

Well, I'll work up until that point, and then I will really come to party. So, in regard to further expansion, I think the next most probable one is DRC and then Nigeria, but it comes down to funding. So, we're always looking for strong local partners, because it's far easier to get everything set up and to have everything regulated. If you're if you're really a new in the country, it might always get tricky. You might something because it's either a cultural thing, or it's a regulation thing. So, it's always good to have really strong partners and not only these things also in regard to marketing, so our current partner there, he knows everyone, he literally knows everyone around there. So also, then selling our services is going to be far easier and cheaper for us because we don't need to go there and establish ourselves, separately.

Mohamed Nasrallah: 27:26

Sandi, I had a meeting today with another person that we were discussing some local contents to add to our TV. He brought it up that he already met the investor and the investor mentioned that we already signed an agreement, and he was a bit disappointed that I didn't call him first and let him know. So, the investor is already spreading this out regarding that agreement was signed, we're coming soon. And yes, I do see with the connection we have here and all of this. It is going to be a crazy start.

Anita Mlakar: 28:07

It already is.

Mohamed Nasrallah: 28:08

If I may, Anita, Michael posted the question that if demands are high, are we planning a pre-sales or something along these lines? Usually, this is exactly what we do when the office is established because it will be established before operations starts, we will be taking certain requests a waiting list that we immediately start once operations are officially launched. Yes!

Sandi Bitenc: 28:43

There is also one thing that I would like to add here. So, we are taking this with our blockchain platform, we are taking it a step further. So, we are right now planning out a system where it will be possible to get access to internet through NFT. So, an NFT will represent a monthly subscription or whatever subscription it will be inscribed in the NFT so we're actually going into is usability of NFTs. so, everyone will be actually able to pre purchase that ones and we will be also then providing a list of either schools or maybe some potential really bright students and so on. And you will be able to just to send them a NFT with conductivity and or grant them a month long of connection or just you'll be able to resell those on the secondary market. So, kind of trying to get into that waters and I think right now we are one of the first companies like real world companies that are trying to utilize its blockchain and probably also one of the first ones creating real usability of NFTs and with providing good service and I think making a lot of goods for the people in Africa.

Mohamed Nasrallah: 30:13

Yes, Sandi, doing this also, this will help. There is another market that we did not consider before that a lot of the diaspora community here in Ethiopia, would be paying for services for their families, having this in place would make things extremely easy for them to have a connection and in this community, we are talking approximately between 700,000 to a million, that's not a small community.

Sandi Bitenc: 30:52

So, it's kind of a way of getting remittances in. So, the remittances are really big in African countries in general. So, people are working outside of Africa sending money back to their homes but that's really expensive, Of course, Blockchain is trying to solve that and in parts of the world, it's already solving it but it's not so easy. so, what is happening, like currently on the markets is that those people instead of sending money, they are actually going to web shops, the local web shops, ordering food and doing the delivery, just paying from abroad, but doing the delivery from local companies and kind of we are doing the same or enabling the same but just for internet.

Mohamed Nasrallah: 31:46

Yep, this is true.

Anita Mlakar: 31:49

Amazing job! There is another question regarding the maintenance of the technology, if it needs a lot of it. Also, Michael is asking,

Mohamed Nasrallah: 32:01

All technologies need maintenance in general, the difference is in our technology, the maintenance costs, and the maintenance of our technology, and the durability of our technology is much higher than different technologies. For example, I'm just giving you an example, having a fiber connection might get disconnected by accident, by road works, by a lot of different things. Our connectivity, once you have a proper connection done at the customer place, you might not hear the customer for any technical problems for a year or even more, even forget, that is only paying. That's it. So, technology wise is much more durable than different technologies in the market.

Sandi Bitenc: 32:58

Yeah, so there are no cables to get separated and on the other side, we are operating with far less towers base stations, we don't need so much technology. If you compare it to a mobile tower or something similar. We probably need like 1/5th of the towers, correct me, Mohammed, maybe even less. So that also means like 1/5th of the maintenance.

Mohamed Nasrallah: 33:25

No, that's true, Sandi, with the mobile towers. I come from a telecommunication background, I used to work for a telecom company. With mobile towers, you have limitations on the number of users that can be connected. And even mobile connectivity is much shorter than- I'm talking distance wise, coverage wise, it covers approximately around eight to nine kilometers, our technology covers up to 50 kilometers easily in all directions. So, you are right on the part where our towers numbers compared to a telecom company is much less. And that reduces your cost of maintenance and your overhead over all of this. That's true. Increases profit, Of course. This is what everybody wants to hear.

Anita Mlakar: 34:29

What would that mean for you personally, Muhammad, having this good, great connectivity in Ethiopia?

Mohamed Nasrallah: 34:39

I'll be very happy. One of the conditions I put in the MOU. First connection has to be into my house, otherwise, no deal. No, definitely. This is something really important and like I said, just from the people we know our friends, our people we are talking to and just like guys, we are coming, I can list over 1000 clients willing to get the service immediately right to them if it's available. And that zero promotions, just word of mouth of the people we know about.

Anita Mlakar: 35:23

Yeah. And those are people around you, of course, saying and telling you what they need. And there are so many other so many more, who will also be happy to have this connectivity. Just another question, maybe a little personal Mohammed but you did decide to move to Ethiopia, you said like a year ago? What was the reason? Was it business?

Mohamed Nasrallah: 35:44

No, my wife dragged me, she got the job with an NGO in Ethiopia. And I'm working online usually, or I travel a lot. So, she dragged me here. And that's a decision, I do not regret to be very honest. I love the country, the weather. The city is amazing, and the business opportunity was the first thing I started thinking about that this is where we need to be as well.

Anita Mlakar: 36:13

Yeah. And women usually know what is good for men. So, I'm just kidding.

Mohamed Nasrallah: 36:20

I'm not going to comment on that. Sandi, I leave that to you.

Sandi Bitenc: 36:25

No, comment from my side also.

Anita Mlakar: 36:29

You're so quiet all of a sudden. Well, I'm really glad that you have been with us, Mohammed, today. Answering all the questions mine and also from the community. And hopefully, there will be some more great information coming up later.

Mohamed Nasrallah: 36:49

Definitely! And it was a pleasure from my side and anytime you guys need me, I'm available here.

Anita Mlakar: 36:58

Thank you very much.

Sandi Bitenc: 37:00

Very nice having you on. Talk to you later. I heard that you have some good news for me.

Mohamed Nasrallah: 37:05

Yes, that we will have on a separate call. We can share with the community later on.

Anita Mlakar: 37:14

Okay. Have a nice day, Mohammed, and hope to see you soon again.

Mohamed Nasrallah: 37:19

Thank you, guys.

Sandi Bitenc: 37:20

Bye.

Anita Mlakar: 37:21

Bye.

Anita Mlakar: 37:24

Okay, Sandy now it's just the two of us. And of course, the people that are listening today and, of course being with us. And we do have some other things to talk about. We said something already about this Tech Summit that is going on and the importance of it. Just tell me Sandi, how many people of the team are there in Nairobi also working with you?

Sandi Bitenc: 37:49

So, from the core team, it’s, and Petra, we went so that we can a bit exchange on the booth, but we also have our advisors here. And that's really nice to meet them again. So, there is Markos is here. We met also Hilina. So Hilina is helping us out a bit also. And Adedayo is also here. And it's really good that they here and they also brought some staff so that there's always somebody on the booth so that we get the most connections out of that because I might need to go on a meeting there or just like I was a panelist. And so, I cannot be there all the time. So, we needed the staff and just, it's incredible. Like, Markos knows everyone, and everyone knows Markos. He's not even from here but it's so much easier to make the connections when people know somebody. So, it's really great to have them here.

Anita Mlakar: 39:02

Did you get in this couple of days to feel how it is to be there, you know, how the people are breathing and the surroundings? how they look like? What is the feeling?

Sandi Bitenc: 39:16

I don't think that it's really the feeling of Nigeria that I'm experiencing here. It is a bit different than let's say, Europe or Dubai, for sure. The surroundings are different. So even the first travel was quite hard. So, we had a flight in 2am. So, we actually didn't go to sleep the day before and I thought okay, well it's a flight we'll try and get some sleep on the plane, but it was a full plane, and We were flying economy. So, we were like on this small seats there, I cannot sleep if I need to, I cannot lay down. So, I think I was passed out for maybe half an hour like half passed out. So, then we got on the airport. And the first thing was like really crowded. they were checking some vaccinations and PCRs and so on.

40:35

Then I came to scan my passport so Petra do have in front of me, she did everything so they also take your fingerprints and so on and pictures and then I came on, and they couldn't scan my passport. I was like there, I thought that they'll just throw me in jail or something like that say that I faked my passport or something like that. It was just running around in trying to scan my passport. I don't know what they did. So, I then needed to go to a separate room, and I was there for an hour and then I was, like, "what's going on" and so they were like, "Stay calm, stay calm". that was like this all the time, then I then I just couldn't stay calm anymore. And I said like, "give me that passport. I'll scan it myself". It was scanned like five hours before on the Dubai airport. So, it just went there. Put the passport on it was working. It was like, "What were you doing?" Just some bad word almost came off now.

41:37

So yeah, that was there and then they started like apologizing and everything. And there was I was really mad. And then there was a guy that processed everything, then he was like really friendly. And I was like, "Okay, let it be".

41:54

So then, because of this, we were really late. As Monday morning was the only time that we had a bit off. So, we planned to go see some giraffes here in the giraffe center. And also, to see the elephant orphanage. So, we were driving with a taxi with the Uber. And the guy was already waiting for us. They're at four for 10 minutes. Also, yet the Uber was really kind of falling apart. It was no part of it, it wasn't bumped. So mostly it was like that, and the roads are really bad and really congested. Everybody's driving like crazy. But at least the traffic is really slow because with fast traffic with such driving. That would be deadly probably. Then we did that. Now you know a bit of backstory. I don't think it's so much connected to 3air, but it's a story.

Anita Mlakar: 43:06

It's always interesting. When you then get back to Dubai, you get back home, then you know how to appreciate it more, what we have.

Sandi Bitenc: 43:19

But we do appreciate it. I also like to go a bit around to see and experience some other cultures and so on so, then you really know how lucky you are and how good you have it.

Anita Mlakar: 43:32

Yeah. Thank you, Sandi for sharing a little bit with us. Also, outside the summit, what is happening and thanks for all of you for your engagement, all the questions, also for Muhammad for Sandi. Michael is very creative, he has a lot of questions. Also, Richard. And please do participate, click like to share this AMA, if you think it's interesting, and it should also interest someone else. We will appreciate that, of course and subscribe to our YouTube channel. You're always welcome to do that. Now Sandi, we do still have to say something about the changes of the presale app. There are some changes and you said you will speak about it today.

Sandi Bitenc: 44:21

So, on Monday, we updated a bit the presale app and it's a transition now to a full app that you will be using afterwards is so it's going to be transitioned from the presale to a normal app. We added everyone that participated in any kind of sale or any Airdrop to the database. So, if you provided us with a wallet, a Meta Mask wallet before you can just go and connect with your Meta Mask wallet but if not, then you're connected through your Email. So, what you need to do is you need to go to the presale app, connect your Meta Mask wallet, and then it will ask you if you want to connect your previous account or existing account, even if you didn't do. so, if you are a private investor and just communicated everything through email, you just select the existing account, you type in your email, then confirm it. And that's it. And you'll be able to see all your tokens we added inside, it's now shown how you're vesting is, there's already a claim button that doesn't work yet. So, it's going to work from 11th of April when we are starting the listing. So, and then you'll also be able to see the vesting schedule for each type of the token that you hold.

45:52

We're also adding some things and I'll be sharing this during the rest of the week, or maybe in the beginning of next week. I don't I don't know what how exactly, I'll be able to manage it like timewise because I'm here in Nairobi till Friday and on Friday, I'm flying but probably during the weekend, we will be announcing some new things in regard to tokenomics some additional token options will be there. And yes, also our refund options are expiring tonight. So tomorrow we'll know how many people requested a refund and up until now everybody has already been paid out who has requested it. And then we'll share those tokens that have been refunded. We'll share it to everybody that staying together with we're going on we do really value everyone's support.

46:58

There was a big change that we did, it wasn't an easy change. It was a necessary change and we do think it was the right thing to do. And then I think also things that are starting that we are hearing right now and are happening are kind of because of this change. You know, we are welcomed by a lot of new and other communities let's say it like that. We value your continued support and going with us through tough times. And we'll try and make it up to you. And there is good news coming this week. So, we actually made a partnership with somebody. I think the token holders will really like it and the exchanges will really like it. So, I'll come up with an official announcement within the next days, if not earlier then probably on Saturday or Sunday when I'm back but it's going to be good.

Anita Mlakar: 48:07

So, another announcement at the end of the week, and you are just keeping us you know, like what? what is it?

Sandi Bitenc: 48:13

Yeah, I'm doing it again. So tomorrow, I actually have the first kickoff meeting with them. They will be providing some services to us and after that I'll be sharing it the bit. the deal has been made. So it is that far. It's it is good. I really like it.

Anita Mlakar: 48:40

Okay, so you're getting good at this teasing.

Sandi Bitenc: 48:47

I can tease you more. There's so much stuff happening. There's so much stuff happening even inside Ethiopia, but it's not finalized but it's really likely to happen. If everything goes well as to what we have been talking now with a few people around here and in Ethiopia. We are literally making history.

Anita Mlakar: 49:14

What a sentence and important one. Sandi, talking about the tokens. There was also a question when will they be able to claim the tokens?

Sandi Bitenc: 49:25

On 11th of April. On the 11th of April, we are listing, and you'll be able to claim your first tokens then and on 11th of April the vesting period starts. So, in regard to the vesting, you'll be able to claim it also everybody who won any tokens in giveaways or airdrops is going to be able to claim those tokens and they are also or already in the presale app so they Should. if you have one any tokens at any point, and you've given us an email, you use that email connects your Meta Mask wallet, and then use your email to connect to your account. And you'll see your tokens there.

Anita Mlakar: 50:16

Okay, I'm checking just a little bit what is happening on the telegram community but here is another question, a little personal Sandi. But still, maybe you can ask, are you guys even sleeping with everything going on?

Sandi Bitenc: 50:28

Yeah, I am trying to get some sleep but lately, I haven't been sleeping as much as I should, that's true. It's just we've been doing a lot of work for a lot of time and now it's just paying off. It looks like now the pieces are starting to fall together.

Anita Mlakar: 50:48

Okay. Richard is saying that if you could ask Mohammed to make a new documentary and share it on YouTube, probably about the progress of the project in Ethiopia.

Sandi Bitenc: 51:01

Yes. I think we should document this. It's true. So, I think we should talk to Mohammed and to the filming crew that we actually used before. We should make a documentary how we are building everything up. That would be good. That's a good idea. Let's do that.

Anita Mlakar: 51:22

Okay, now Sandi, we have less than 10 minutes left, but we didn't reveal the secret code for today in this ultimate giveaway.

Sandi Bitenc: 51:33

You want to do it?

Anita Mlakar: 51:35

Of course. Do you? really reveal it?

Sandi Bitenc: 51:43

I asked you if you want to do it?

Anita Mlakar: 51:44

I can do it. Okay, why not? Okay, just let me find it, can I just click it and give it away?

Sandi Bitenc: 51:56

Let's wait a bit. You think people really want to hear it? Who is waiting for the secret code?

Anita Mlakar: 52:03

Okay, Sandi tell me that two codes in there. So that I don't click the wrong one.

Sandi Bitenc: 52:08

I'll tell you where you need to go first. So, if you haven't been doing any work on our giveaways. That's the actual link where you can read all about it and how to enter it. And then you also know where to put into code but let's see if somebody really wants the code. I want to hear it. Yeah, let's not keep them waiting. So, it's only one, this one is. It's 7643. Now, I am hiding it.

Anita Mlakar: 52:45

Oh, that was quick.

Sandi Bitenc: 52:47

Yes.

Anita Mlakar: 52:48

I didn't remember it.

Sandi Bitenc: 52:50

You need to be watching.

Anita Mlakar: 52:53

I'm not good at numbers.

53:03

Okay. Now, another thing Sandi, you said that we decide that there will be a little change about our Twitter space timing, when we'll be doing it, not on Fridays anymore, right?

Sandi Bitenc: 53:19

Yes. So, we were thinking about having it one more try, giving it, one more try on Fridays to see how many people are joining it was kind of a both side decision that brought us to making it Friday morning, but I'll be travelling on Friday. So, we'll try it for a few times on Monday evenings. So, we'll probably have it around the same time as our AMAs. And Mondays let's see if it picks up a bit better. Else, we need to try a bit out the best timings to get more people in, but the last time was really nice. So, if you didn't see it. We were talking about connectivity in Africa, and we had a few people locally speaking about their experiences and it got really interesting.

Anita Mlakar: 54:16

Yes, it was interesting because you really get the feeling how is it there in practice. Miran has a question, he's saying, How come app shows value? You see what it is? Will that be perhaps the price at launch?

Sandi Bitenc: 54:31

That's the price at lunch. So, the meeting that I was telling you about for tomorrow. That's going to maybe influence the price a bit. So, we might still change it just slightly. Let's see. I don't think that we will but if it's for the good of the token, then we might, but for now it looks like this is staying at one. So, at 10 cents. And tomorrow we are talking about the launch and the listings and everything.

Anita Mlakar: 55:20

Okay, I think we have answered all the questions that were being asked here in the chat. I'm just checking if we missed something, but I think that we did it, or maybe just this one. If you can maybe explain Sandi, how will this investment be split between 3air and K3 investment in Ethiopia.

Sandi Bitenc: 55:43

So, this is an investment into the local infrastructure. So, and it's the deal that was always on the table. So 3air is the platform that’s being used to run all the transactions through and to provide all the services and everything. So that's it, it's no real split into it in that regards. So, the infrastructure is going to be built, it's going to be run by K3 and everything is run through the 3air platform. So, each customer goes through the 3air platform.

Anita Mlakar: 56:31

Here's a question, which exchange will the listing happen first or DEX maybe.

Sandi Bitenc: 56:38

So, that's the end. That's the question. I'll have the answer tomorrow. Probably, finalized because we are partnering up with somebody really strong in that area.

Anita Mlakar: 56:52

Okay, Sandi, is there something else we should add? Or should we say we are finished for today? And thank our community.

Sandi Bitenc: 57:01

Yes, I think we can. So, we'll be below one hour, it is amazing. I think there was a lot of good information given out today. And we'll be continuing that base I'm pretty sure. Right after the call I'm again jumping on a call with Mohammed to update me a bit then I need to do a bit more work. So, we are pushing the news for Ethiopia through some media channels. So hopefully, they'll pick it up. So, I need to do that and then within an hour, I have another call with two potential investors to go forward. Then I go to sleep.

Anita Mlakar: 57:52

Richard is saying, take more pictures during all happenings and put them on telegram.

Sandi Bitenc: 57:57

Yeah, it's not something that I really like to do, to be honest, if you have looked me up, I probably don't have almost any presence on social media since four or five years something like that. I just got sick of it. So, I really hate running around taking selfies, but I know that you like it. So that's why I also actually do it and I will be posting more and more pictures. Yes.

Anita Mlakar: 58:30

Yeah, Petra is very good at this. So, she can help you or teach you, doing pictures, posting, writing good stories. So yeah, just a challenge.

Sandi Bitenc: 58:43

I have a lot of help for sure.

Anita Mlakar: 58:45

I know. Michael is asking what time is it at your place?

Sandi Bitenc: 58:50

So right now, it's 8pm.

Anita Mlakar: 59:05

Let's say 50 seconds to close this AMA. So, we did it. Sandi, thank you very much. Thanks for all of you for being with us. And looking forward to another one next Wednesday. And of course, Monday at 6pm. We'll be on Twitter space.

59:23

Sandi, enjoy your staying in Nairobi. Good work the team and we are waiting for this great announcement to come more and more. Thank you!

Sandi Bitenc: 59:35

Thanks, everyone. Bye.

Anita Mlakar: 59:37

Bye.