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3air weekly AMA, 16th March 2022 @5pm CET - Presale Update

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This is a transcript from our weekly YouTube live AMA:

Anita Mlakar: 00:05

Hello dear friends and welcome to weekly AMA from 3air. So happy to have you here. As you can see, we have a beautiful day here in Maribor. In Slovenia, we have sun, and days are getting longer. So, there is no more darkness outside at 5pm. When we are starting this AMA, I hope you are doing good because I am. And my name is Anita, by the way, Anita Mlakar, and I'm the one hosting these AMAs and really looking forward to seeing you every time, there are some of you who are with us regularly. And I would like to thank you for that for being with us. And for using the opportunity to chat with us to ask questions to communicate, to write comments. And this is what this ama is all about. So, we are staying connected and I would also like to invite you to do this today to click like, if you like our AMA, to write a comment to use the opportunity to ask questions, what else can you do, you can hit the bell icon to get notifications, you can subscribe to our YouTube channel. And you can invite a friend or recommend us to friends, we would really like that. And that is the way we will cooperate. So, thank you again for being with us.

01:30

Now what else can you do? And how can you connect with us we have our channels on Discord on telegram on Twitter, and you can join there, there's really plenty of opportunity to ask questions there and to of course communicate with others. And you can also watch or be a part of our social media channels where we are staying in contact with you.

01:58

Sandi Bitenc is the CEO of 3air and He will be with us shortly. But first what we are always doing at the beginning of our AMAs is talking about what we are doing. What is 3air doing? And I'm sure you know a lot about it, I see that some of you are already with us. Hello!

02:20

Maybe you can help me with that what is 3air doing? So 3air connecting the unconnected. 3air is banking the unbanked and we are connecting people of Africa with the world because there's only 46% of people in Africa connected to internet in any kind of internet any way. And we are of course giving them more opportunities to be connected to the world because this lack of Internet has other consequences to the people of Africa. It's the way they connect with business, how they communicate between each other. There are so many great minds in Africa. And this is the opportunity for them to thrive to do something better. And we are really happy to be able to do that.

03:13

So, thank you again for helping out us with that. I see that there are already some comments.

Anita Mlakar: 03:20

Hello, everybody. It's nice to have you here. And now I would like to invite of course the CEO of 3air Sandi Bitenc to join us.

Anita Mlakar: 03:29

Hello Sandi and welcome.

Sandi Bitenc: 03:32

Hello Anita. How are you? I see you're really in a good mood today.

Anita Mlakar: 03:37

Yes, I am. nice weather. You know the spring is coming. The winter is saying goodbye. So yes, I'm in good mood. How are you?

Sandi Bitenc: 03:48

Well, there is no winter going away here because there is no winter here. So, in that sense, it doesn't bring me in a good mood but there's always summer here. So that's actually really nice. To be honest here, right now it's getting really hot. Over this week we had 38 degrees.

Anita Mlakar: 04:11

Oh my God 38, we have 15 and we are so happy.

Sandi Bitenc: 04:18

yeah, I think there is a sweet spot. So, some would say I would rather have 15 than 38.

Anita Mlakar: 04:25

Yeah, I know, but I like it.

Sandi Bitenc: 04:27

I really like it. I started liking it when it comes to 30 actually. So now also overnight it stays around 30. Maybe it goes down a bit but it stays there around 30.

Anita Mlakar: 04:47

Okay, I like it around 25. Those are ideal time temperatures but if I have to choose, I like it better hot than cold. You know, even we do have winters here.

Sandi Bitenc: 05:02

Absolutely!

Anita Mlakar: 05:04

Sandy, what kind of T shirt do you have today?

Sandi Bitenc: 05:07

We have that one already. It was funny. So, I was actually doing some calls with our private investors these days. And there was one actually on the call that wore a Star Wars T-shirt. It was nice.

Anita Mlakar: 05:36

Okay, Sandi. Now, before we start with today's subject, I'm really looking forward to that. You are everywhere these days we can see you and some events you're taking place as a speaker, connecting with important people. So, do tell us what is going on right now? Where have you been?

Sandi Bitenc: 05:58

Yeah, we are kind of putting in now the second year in our marketing. So, there are still like the third, fourth, fifth. Nowadays cars come with nine gears. So, we are just starting actually. But some really cool stuff is happening and to be honest, half a year ago, if you would ask me, I would never even dream about the level of connections that I managed to pull up right now. So, I'm actually meeting government officials and so on.

06:38

On Monday, we I was invited to the Burundi Investment Conference. I was kind of promised to be able to speak with the president directly but this in the end didn't happen, because he just came into the hall and gave his speech. And then afterwards, he just ran out and nobody could actually stop him. So, he apparently had some really important meetings because some royalty here they invited him so that took precedence.

07:21

But I was able then to speak to some of his ministers. And there is a lot of interest in what we can offer. And we will for sure, continue the talks. But to be honest, also Botswana is not really the country that we are right now looking for. So right now, we are looking for the biggest countries in Africa. And Botswana is for sure, something that we'll be looking forward to in the future. So, it's good to have contacts there. And we'll be keeping that conversation going. And it was really nice. And then just afterwards, I actually got invited, there was another conference going on in the same day with another government. I just couldn't follow up on that one because I had another meeting. So, I had no time. It here is so much is happening here. It's kind of every day, there is two or three conferences either on some financial things or on crypto or blockchain wherever. And then there is also two to three parties or dinners afterwards. It's impossible to do everything.

Anita Mlakar: 08:57

Poor man, you have to be in all those events.

Sandi Bitenc: 09:02

I'm telling you, it's really not easy. It's nice. And the events are usually really high level, good food, good music, entertainment, and everything is there but it still work, you still needs to be there. So, it's kind of nice work, but it's too much. I I'm really looking forward that it's for sure it's picking up still. So, for the next month, and this is what I'm prepared now to really push through but it's not so easy, really. It's nice to go once or twice per week but every day. It's hard. It's tough.

Anita Mlakar: 09:50

I know I can imagine. So, if you're not following what you're doing, or maybe we're missing it on our channels then we can read about it in media, where we can see that Sandi's in there. And of course, also connecting and making some partnerships. Very important partnerships with African Chamber of digital commerce. This is the latest news, right?

Sandi Bitenc: 10:14

Yes. And do you remember when that one started? Do you remember it? It was when I was coming back from Kenya, from Nairobi, when I was actually going to the airport. And then I was at a Twitter spaces, you remember, that was the Twitter space actually with the African Chamber of digital commerce. And they actually invited us to a partnership there in the Twitter spaces live. And I was like, what?!! you know, what's happening, and we followed them up on this one, and this is now the partnership that's been formed. And I think that people don't get it, actually, what this means because it's a partnership with this African chamber, but it's also a partnership with the Ministry of Communication and Digital Transformation of Nigeria. So, he's directly with the authorities that are there to grant, the licenses and oversee the operations of telecoms and everything. So that's the level of partnership and Nigeria is actually the country that everybody wants to enter and this is what is opening up for us right now.

11:32

And we're also giving a spot in a really cool project because the project is to educate three and a half million students in let's say, the bit of a code less environment or low code environment to provide apps to other development services to the global economy, actually, so it's creating jobs for Africa, and for their students. And that's actually what we're trying to do, right. So, we're trying to provide better equal opportunities to everyone because Internet has the power to do that. And we are not only trying to provide them internet, we are trying to provide them also the means to earn some money to make some income, and to provide them the financial services that they actually lack right now. So, this is a huge thing, really huge thing.

Anita Mlakar: 12:40

It is a huge thing, and we are already seeing some comments from our community and from people with us today that this is big partnership, big partnership news, and Joe said, already showed it. At first, we didn't really get what the partnership was all about but here we are, indeed. Great!

Sandi Bitenc: 13:01

It's going really well. So, everyone that I talk to is excited of what we have to offer and it's good because we have something in hand. It's not an idea, it's more, we've done it already. so, it's a working model we literally are changing already lives of around 10,000 people more than 10,000 people this is the amount of people that are using our connections already. And now we are building on top of that, layers of digital identities of banking services, financial services and also then giving them all the tools that they actually need to also get some income.

Anita Mlakar: 13:49

Yeah. So, this calls for cheers, I only have water.

Sandi Bitenc: 13:54

My wine glass is empty.

Anita Mlakar: 13:57

Oh my god, really?

Sandi Bitenc: 13:59

We should not be drinking while working. So, I drank before.

Anita Mlakar: 14:04

Thank you for this news and please do tell us guys what do you think about that? This is really important, really huge. And we're really happy that this is happening. Congratulations to 3air.

14:19

Now Sandi we have also an interesting subject. We'll be talking about the events because another one is coming up on Friday, 18. But we have we have a very important subject today. And we already wrote down about it in the telegram and discord and also on Twitter of course, and this is a pre-sale that is coming up and Tokenomics about it. So, our pre-sale is only two weeks away on 31st of March. And of course, we have some updates today about how the tokenomics will be and how the pre-sale and exact launch will go forward.

15:01

So, Sandi, what is the first thing that you want to tell us what is important to know about this pre-sale?

Sandi Bitenc: 15:09

Yeah. So, there is one thing that I did before we started, I'll put the article up, that explains some stuff. It's right now on our blog page, we'll also be adding it afterwards to the Medium page, and you can go to blog.three.io and then you'll see there it's last article. And there's quite a lot of detailed information in already. So, it is a bit of a work in progress still. So, we do have two weeks to really finalize everything and it comes down in- you remember, we formed a really big partnership with a market maker, and they're also helping us with the launch.

15:57

So, in the last days we were, we were really trying to guesstimate the buy and sell pressure and everything. And we did a lot of charts and plotted out how, you know, the future of token trading can be and what we're really trying to do is to kind of provide the environment for a steady growth, let's say we don't want those highs, and you know, just going crazy on launch, and then token dumping, and then you know, going up again, thinking about a lot of things we're thinking about how do we actually gets to the market cap to the volume and to the price action, that actually the biggest exchanges want to list us and that we don't need to pay them.

16:57

Right now, some listing fees on the bigger exchanges are literally $2 million. And then even then you have the requirements to hold some volume and to have some exact prior price action that they want, else, they just delist you and you lost the $2 million in. So, we are really focusing on that. And I'm so thankful for all the help that we are getting it's a game changer for sure. So, we have a lot of things already set out, the whole timeline. And we're still looking a bit at some things.

17:43

So, the first thing that we actually did to our tokenomics is that we restructured it. So, one thing that happened in the meantime, and it was really, really good for the tokenomics is that we got a private investor in that will cover expansion to one country. And this is actually not going through a token. So, we don't need to do the whole raise that that we set out in the beginning. So, you remember we set out that we want to get a 16 million raisings. So, we don't need 16 million anymore because this has been covered by a private investor. And this is also not diluting tokens.

18:23

So, we ended up now is with 110 million tokens in hand that we're not selling and the good info is that we'll be burning those 110 million tokens. So, we'll be burning at least 110 million tokens that's already set in stone. it's going to be probably a bit more. It depends how much on allocation we are giving to some other pre-sales and also to launch pads and so on so it might be still a bit more even. And this means that we are literally burning at least 11% of the total supply of our token. so, I think the current token holders will be really happy about that.

19:13

So, this is one thing that that happened. So, we are limiting the amount of tokens that we'll be selling right now. And I needed to fight to get this March pre-sale actually going because from the token launch perspective, it would probably be better if we wouldn't do it at all. So, but I do think that we need to give the opportunity to a broader community to at least the opportunity to get into the 3air project at the presale price.

19:55

So, what we did is we limited the maximum amount of tokens that you can buy. So, before we actually had the minimum amount was limited. So, you needed to buy for at least $600 and there was a lot of people that kind of complained at its high. So right now, what we did is we limited the maximum amount. so, there won't be any minimum amount, everybody will be able, if you want to buy for $10, you can buy for $10, or $5. So, we will enable this, and the maximum amount that you can buy will be $120. So, $120, that's 2000 tokens, so the price will stay the same, the price will be still at six cents. And you'll be able to buy 2000 tokens max, but there'll be no minimum.

20:49

So, we'll be selling a maximum of 2 million tokens in this presale. So, if everybody's buys $120, that's 1000 people that can buy. And right now, the presale app is open, you can already pre-register you can already do the KYC because there will be a KYC requirement, we are fully regulated company and everything. So, we do everything by the book and also the KYC will be done.

21:30

The next thing that we will do, we will reduce the number of tokens you can use to buy. So, before we actually had I think 12 Or even more tokens that you can buy with and there was a lot of issues with gas fees and so on. So, what we are doing right now is we will be enabling buying with BUSD on Binance smart chain and with USDT on the Tron chain. So those are the two tokens that you will be able to buy 3air with and they actually have really low fees both. So, this is why we decided to go with this. And we will be enabling also Fiat payment options. So, credit card options will be enabled but the actual fee for the transaction, the customer will actually be the one that'll take over this one. And I think that the costs is around 4% right now, we're still a bit negotiating on the price is what we can get but this is around 4% or 5% is the fee, we're not taking anything of this. So, this is going to be paid strictly indirectly to the third party that's doing the conversion for from Fiat, but it's going to be pretty easy. So, you'll be logging in, doing the KYC through our app, and then you'll have the payment option. And you'll pay just like in a in a normal web shop, for instance. So, this is about the buying. Let me think if I forgot something here, Did I forget something?

Anita Mlakar: 23:20

Just looking at what you wrote about it. I don't think you did. Of course, there's opportunity for you to ask questions. Michael has a question. That was from when you started to talk about it, how much do you need now?

Sandi Bitenc: 23:35

We're actually good. We don't mean we don't need any money right now. So, we are good with the investment that we have. So, it's not that we cannot use it properly. So just to make sure about that. So, we will still need additional funds for expansion but this one can actually come from the ecosystem fund that we have in that we calculated in the tokenomics. So that should be good. And everything right now is actually to be able to for the broader community to take part at this low prices right now at the pre-sale prices so that they don't need to come in later on when everything is trading, you know, hopefully, at a far higher price in the future. So, this is why we are doing this pre-sale. And we actually also promised it so I don't like to go back on.

24:43

So, I had to fight a bit on this one. So, to get it through, but I think it's fine. I think it's really good. And there's also so why do we have this limitations. limitations in regards to the maximum token amount that you can buy is this one. So, if that's the question why is there is a limitation is just because we cannot sell all the tokens in the presale. So, then then nobody has anything about it. And then the price action afterwards will be probably just downwards and nobody wants that. So, we want to help the token, we want a token that will grow with us, and we strictly really are focused on preventing any dumping.

25:36

There is also what we need to talk about is the Vesting. So, the tokens will be vested a bit longer than what was vested before at the first presale. So, the vesting will start immediately on listing. And it will be continuous and linearly for 18 months. So, this means that you can claim the vested tokens at any point in time as you want. So, you can claim in each minute if you want, but you will be able to claim the tokens that have been vesting to that point in time. So that's one.

25:36

So, you know, if I allow now some big players to buy it for a few million, then what do you think will happen afterwards? So that's why. it's actually for the for the good of the project, and also for the good of everyone that actually everyone can come in. Although I know that somebody- before we had like the problem that a lot of people were complaining, yeah, for us, it's, you know, the minimum is too high, we cannot go in and now people will come and they'll say, Yeah, I want to buy more. So, but that's how it is, I think the more people have the most equal opportunity, I think the better.

27:00

There's also something that we need to talk about. And there is a lot of questions about this. And I want to get this off. Is that where are we launching the tokens? So, let's make it clear SKALE is our primary chain, and the project 3air platform will be built on SKALE. So that's for sure but that doesn't mean that we actually need to launch the token on SKALE, if SKALE is not ready at that point in time. So SKALE for sure, will be ready within six months that I'm 100% Certain when we actually need to launch our platform.

27:40

And before that, we will probably it looks like it because SKALE was a bit delayed right now, just because they have most of their development team is actually from Ukraine. And they managed to fly out a few of the developers but not all of them. So, some are still sitting in literally in the middle of the war zone. So, this is why there are some additional delays and until SKALE actually can upgrade to the version 2. Ruby cannot launch. So, we've spoken also to Ruby and Ruby is ready to launch they are totally waiting on version 2. to come on the on the main Net and test net, everything is working good there.

28:38

So, we will provide liquidity also to Ruby once they launch but as it looks like we will be launching on the Binance smart chain. And we've been thinking of what to do. And to be honest, I would never build 3air on Binance Smart Chain just because of all the centralization and everything we know about the issues that Binance Smart Chain, right now has. But for the token launch, we then decided it's probably the best. So, a lot of people also within the community. The only question was why are you not launching on BSC. Well, maybe we could. So, if we cannot launch on SKALE, then we'll launch on Binance Smart Chain and provide liquidity first on PancakeSwap. And this is just because Binance Smart Chain still has one of the lowest fees out there. It has a huge liquidity. It has the most tokens out and I'm pretty sure that there are the most users on Binance Smart Chain and that PancakeSwap probably has the most users of any DEX so the DEX is really well established.

29:58

And there's also The big thing that Binance Smart chain is owned by Binance itself. So, we are out to list on Binance is why so important. So, if we have a token that's already on the Binance Smart Chain and it's a really big plus to for this. So, this is also one of the things. And there's also the onboarding of new clients, the majority of onboarding still goes through to central exchanges. And although we will be providing through SKALE, we will be providing our own Fiat onboarding and so on. So, the people will be actually able to onboard fully through our platform.

30:39

Still, the majority come into the crypto space through Binance and Binance right now, they actually acquired two new licenses for their central exchange in Bahrain and also in Dubai. So, they are expanding and then it's actually the easiest way to go from the Binance central exchange, then to PancakeSwap to the Binance smart chain. So, it's a lot of things that are for a good token launch, if we launch on the on the Binance Smart Chain, although I said I would never build a project on Binance Smart Chain because of all the stuff that are not totally in the sense of decentralization. decentralization and the problems currently, with validator nodes, and so on, you know, they're going out of sync and those things. We are fully aware of this, we still think that for the token to launch properly, it's probably a good place. And we are already talking to SKALE to provide a bridge from Binance smart chain directly to SKALE so that you don't need to go.

31:53

So, there is already a bridge that is available to go through Binance Smart Chain to Ethereum and then to scale, but that will imply some fees. And we don't want that. So, we are already working on that. There will be a direct Binance smart chain to SKALE Bridge in the near future. And that one needs to be done. Before we actually need the token on our own platform. So, before there is something going on, we'll try to get this going as soon as possible.

Anita Mlakar: 32:26

Thank you, Sandi. you're so full of information. Oh my god, where do you get all this knowledge?

Sandi Bitenc: 32:33

I don't know, I like to read.

Anita Mlakar: 32:36

You know, reading is not enough. You have to understand it. It's more important and you do.

Sandi Bitenc: 32:43

You know, when I focus on something, I'll probably drill down to the smallest detail and this is how I am this is probably also why I've managed to do the world record and the Ironman and those stuffs you know, it's just like focus and nothing distracts me from getting to the end.

Anita Mlakar: 33:06

Okay, discovering again and again. Sandi, another thing about the pre-sale starting on 31st of March till? When does it end?

Sandi Bitenc: 33:16

It's for a week. So, it's for seven days, it's going to be till seventh of April. We actually wanted to launch a day later. But then it would be first of April and we just wanted to- not maybe launch on you know, a presale on the first of April. Sometimes not everybody understand that it may not be potentially a joke.

Anita Mlakar: 33:45

Okay, let's just see the questions because I saw some of them. Are you going to Binance blockchain week, it's in Dubai.

Sandi Bitenc: 33:55

it's in Dubai. I am. So, you remember that we met the Binance team in Nairobi. So, we'll be meeting with them here. And also, Hilina is flying in tomorrow, I think or even today in the evening or tomorrow. So, she's also staying for the Binance week and so we'll be there. And we will be also to a lot of other events that are happening right now in Dubai. So, whoever is in Dubai right now on any of those events, just let me know and we should meet up.

Anita Mlakar: 34:39

Yeah, use the opportunity to meet Sandi in person and ask him more questions because he has all the answers.

Sandi Bitenc: 34:46

And I have also another answer. And this time is 7868. No, sorry. That's the Slovenia Slovenian version, man! I sometimes really, I am a bit of dyslexic. So, something else about me. So, it's 7886.

Anita Mlakar: 35:18

Yeah. So, 7886.

Sandi Bitenc: 35:23

You see, that's, that's when you've come from Slovenia.

Anita Mlakar: 35:27

We're doing it.

Sandi Bitenc: 35:28

We are doing it the other way around.

Anita Mlakar: 35:30

Yeah. So, 7886 I'm not saying it anymore. This was the last time. Okay, thank you, Sandi for this information. Just let me ask you something else. Were you ever a part of some quiz, you know? on television or anywhere where you could earn some money or something? Did you ever compete?

Sandi Bitenc: 35:53

No.

Anita Mlakar: 35:56

Maybe you should think about it. Millionaire?

Sandi Bitenc: 35:58

No! My knowledge is strictly, you know, really limited. I don't think I have really like a broad knowledge that I could answer every question there is, but I can answer a lot of questions on the blockchain part, that's for sure.

Anita Mlakar: 36:17

Let me see what you are writing. Do you have? Okay, let's just see if this is a question. Do we have the actual number of total supporters of 3air's mission? And is the growth going according to plan?

Sandi Bitenc: 36:35

What would be a supporter that's the thing. So, we do have the numbers on our social media and right now the social media stands, Twitter has just over 20,000 followers, YouTube has 1400 subscribers. Instagram is a bit smaller. It's a bit over 500 and the discord is 1.6k people and telegram right now is I think at around 5000. It's 4700 people. And let's see if I look at our backend. So, we have in our presale app, we have 2731 users registered.

Anita Mlakar: 37:39

Great numbers. Those are our supporters and you are also among them, all of you following us. So, thank you.

Sandi Bitenc: 37:48

And as I said, right now we just put from the first to the second gear, so there is a lot to come.

Anita Mlakar: 37:56

Did you say there are nine gears?

Sandi Bitenc: 38:00

The new cars have nine gears. I don't know why. I don't think it's really necessary but yeah, you have those. Even if you go to five, it's good.

Anita Mlakar: 38:13

Okay. Here's another one. When I confirm to prolong the vesting period, it seems that the token amount hasn't updated yet.

Sandi Bitenc: 38:23

Okay, good that you say that this is something that our development team needs to look at. So, no worries, we will be updating that for sure. If it's not already visible, it could also be just a display dysplasia but I'm taking note and I'll just write to the devs right now.

Anita Mlakar: 38:47

Okay, this is your opportunity to ask questions of course and to get answers from Sandi first handed and you should use this opportunity. We are talking about presale right now. So, if there are any more questions about that and everything that Sandi was explaining, if you have more questions to that, please do ask them now. Otherwise, I saw that Gigi is asking the same question more times and I would like to invite him in or this question about the book giveaways if we will be ever giving more book in our giveaways.

Sandi Bitenc: 39:24

Which books? MacBooks we are giving a MacBook out right now.

Anita Mlakar: 39:29

If you remember Sandi, once we had I think it was the Christmas we gave books.

Sandi Bitenc: 39:41

I don't know why. Let's ask the marketing team so I think if you want books, we can get some books. Why not!

Anita Mlakar: 39:50

Okay if you will say that you like books then this will be another opportunity for giveaways but MacBook, like you said is a great book.

Sandi Bitenc: 40:01

That's the best one.

Anita Mlakar: 40:04

It has all the books in it. You cannot believe it. Wow, this is really a great giveaway and I cannot participate. Oh my god. Okay. someone really wants a book says the Bigdid. That's great.

Sandi Bitenc: 40:22

Let's give one book away and let's just give it to Gigi D'Agostino. I like Gigi D'Agostino so he was the DJ that I grew up with. it was the most popular when I went out to party.

Anita Mlakar: 40:42

Gigi, congratulations!

Sandi Bitenc: 40:47

Okay, so I know now, Gigi D'Agostino who you are. We were talking on telegram. And yeah, he actually got a different book, he requested a different book. And yeah, we just printed him a different book, because he said that he'll give it away to the to the university. And I thought, yeah, that's pretty nice. So, he said, he'll read it. And then he'll donate it to the university that it's really a needed book there and can help a lot of people. So, what should we do? Right?

Anita Mlakar: 41:31

Yeah, really a nice gesture. So, thank you, Gigi. Thank you, too, for doing that. Sandi, now, another subject that I wanted to discuss, and talk to you about is something that we talked about on Twitter space, we had it on Monday at 5pm. Also, and it was a very interesting subject about Web 3.0, you were able to be a part of it just for a couple of minutes, because you were in the middle of meeting or going from one meeting to another, you did catch something that we were talking about but I would really like to also hear your opinion about it, you know, talking about Web 3.0, you know, also talking or somehow connecting dots with Web 2.0 and everything that is happening. And we talked before and you said that we are not actually really getting it, what Web 3.0 is what Web 3.0 is representing what it will be used? And how are we actually thinking about it? So, what is your perspective?

Sandi Bitenc: 42:38

Yeah, so first of all, 3air is not like really well defined what it actually means. And what the actual things there are, it's not just like blockchain. Web 3.0 is actually the idea that people are being able to own things on the web. And, you know, either if it's something that's related to cryptocurrencies, for instance, or it's maybe even related to their own data, so this is what blockchain enables for sure, but the idea about Web 3.0 in general is, in my opinion, is shifting this ownership, onto the web. So up until now, you weren't able to actually hold information, you know, like it's your own.

43:31

So, the ones that were storing it on their servers, they were the ones controlling it, they were the real owners, you thought you are the owner, but you never were actually the owner. So blockchain actually enables it to be stored online, but you are the owner, and you can prove it. And you can do something with that data. And you can actually enable somebody to use it, but you still control it and I think digital identities are the cornerstones of Web 3.0.

44:04

So, I think it will start with really picking up with good digital identity solution, where you will be able to have data online and provably send it to somebody else or allow them to use it and not even that you can actually prove some things without actually disclosing the information. That's the beauty that I see in it. You know, can you imagine, I can tell you something and you will instantly know that it's true without me telling you what the information actually is. So, sometime is really hard to grasp. And it's really hard to explain, but it is how it can work. And I think this is the big shift. I remember back in the days going from Web 1.0 to Web 2.0 because I was there at that point in time.

45:02

So, at that point in time, I was actually starting my computer career. So, we were opening up a company where we were registering domains and we were also offering those the main services and also hosting. And besides that, we started a marketing agency and building websites and those stuff. So, this is when the web was mostly static, so that was Web 1.0.

45:36

Web 1.0 was actually static, you came on it, you could read the information that was there but you could not interact with any website, so there were no logins, you could not, you know, write some things or post your ideas and or comment or like, or something like that, so you cannot interact. And then I literally till now I remember, you know, talking with one of the developers there was like, Yeah, Web 2.0 this is so cool, you know, AJAX is coming out in one month, something like that and then was AJAX was the JavaScript library that was enabling, you know, more of this interactions. And from that on it picked up.

46:24

But I think that the real Web 2.0 how people started to think about Web 2.0 was actually with Facebook, you know, when Facebook started, it was a model where actually somebody else was creating the content, Facebook's not creating the content, so we are actually providing the content to Facebook, and they're selling our content, and we're not getting anything from this and that's now they shift to Web 3.0. So now we'll be able to actually provide the content, but it's going to be our content, and we'll also be able to charge for it. And because we are actually the owners of it. So, monetize it, this is kind of the shift that I think is we are making with going to the Web 3.0.

Anita Mlakar: 47:09

Yeah, it's really a big difference. I was thinking about it for being a passive observer then to start communicating and being an active on internet and now being able even to get paid for what you're doing, which is actually I think, the right process but I was surprised because we were talking about it. And there were some people also in Twitter space, knowing more about it than me, because I'm really new at that. And they said that the big conversation about the Web 3.0, although it was first mentioned in 2003, but only last year was really a big change, a big difference which was made in this path of Web 3.0, which is really a short time.

Sandi Bitenc: 47:55

Yeah. Although if You mean like, last year till today. It's a short time.

Anita Mlakar: 48:02

We're talking now about it, knowing something about it, getting to know it. And it's only, let's say, a year.

Sandi Bitenc: 48:10

It's a total beginning. It's being in 2000, when talking about Web 1.0 right now or in 2001 talking about Web 2.0. I don't know, do you know, when Facebook came out? So, it was a bit later.

Anita Mlakar: 48:31

When was it? 2013. No, I'm not sure. Yeah.

Sandi Bitenc: 48:36

Maybe the community knows, who knows when Facebook came out?

Anita Mlakar: 48:44

Google knows.

Sandi Bitenc: 48:45

Who knows?

Anita Mlakar: 48:47

I was on Facebook in 2013. So, it must have been like two or three years before that, I think.

Sandi Bitenc: 48:54

I think it was even a bit before that. I think it was around 2006, something like that. Okay, I would say or even before that to 2006-2007. I think so. Somewhere around that time, I would say. And it followed my spaces. So, it's 2004.

Anita Mlakar: 48:55

Thank you, Michael.

Sandi Bitenc: 49:16

Michael, so 2004. So, it's like right now talking about Web 3.0 is talking about it before the actual big player is coming out. It's also early everybody that's in right now and thinking about Web 3.0 and Web 3.0 for sure. It's you know really in line with Blockchain technology. I mean, it's a totally beginning.

Anita Mlakar: 49:54

Yeah. And talking about it with people, everybody has a different opinion about what is going to be. what it is going to bring, we all have the general idea but also reading it on internet when I was discovering it, there's so many different opinions about it. So, but what they say, experts say that it will be impossible to just leave behind the Web 2.0, and that it will be hand in hand Web 2.0 and Web 3.0, with everything that is going also, it will be like cooperating, or connecting Web 2.0 and Web 3.0 because it's impossible to just leave all the data behind and everything. So, this will be I'm sure if nothing else.

Sandi Bitenc: 50:38

You cannot just you know, stop everything that's being on right now. And then just you know, the next day everybody is starting to use something else. And you also need to know that there's a lot of stuff that blockchain still cannot do, and probably will never do. So just thinking about all the AI and machine learning and that'll probably never be done on chain directly. So, it's going to be interesting how the data will come to it because machine learning, it's big data, you need a lot of data to actually be able to teach a computer to recognize some things and so on. So, there's, though, still be a lot of stuff that will be done off chain and centralized, and so on. So, there's going to be just a part of it totally decentralized.

51:32

I agree, it'll go hand in hand. And of course, we also don't have Web 2.0 without Web 1.0. So, still you have static pages and you also do you have the other all the applications and everything that's on the internet. So, I think Web 3.0 will be in addition to Web 2.0, for sure. And yeah, there's a lot of data there already. So, I also think this data gets old pretty fast. So, habits change. They do need to get all the new information constantly from us. So, I think it can still change quite fast. So, meaning quite fast, let's say three to five years, there can be a big shift already. In my opinion. But if we'll be able to just, you know, in the end be on Web 3.0 and just they will be on the blockchain, nothing else. And now that's for sure not going to happen. Yeah. And my developers tell me that apparently, the 10% should have been added already. So, there was something that was not showing correctly. So, if somebody can just check it and tell me if it's working, then I can tell them back. And that if they did a good job or not, so but this is how we work. It's like, during the AMA Live making change.

Anita Mlakar: 53:08

Okay, just another question, Sandi, we are talking about Africa. And when we were talking about Web 3.0, there was a question if people in Africa will skip over Web 2.0 and just going from not exactly Web 1.0, of course, there were parts of Web 2.0, also, but maybe just being more at home with Web 3.0, because now this big connection in Africa, starting with internet and everything, and if this will be maybe easier for them, you know, to use Web 3.0 or this circumstances, what do you think about it?

Sandi Bitenc: 53:49

I don't think they'll just jump over it and just go straight to it, there's still we need to know that on Web 3.0, there's so little people right now, taking advantage of it. And so, no, I don't think they'll just jump over it. And the giants will still be there, once they're all connected, but for sure, just if you don't have a bank account, you're kind of forced to go to another solution. And I think it's good if you don't have the prior experience, because if you're used to do something each day and use something in a certain manner, you'll probably try and use also something that's probably similar or has a similar functionality or angle. You'll try to use it in the same way. So, in a sense, you need to unlearn something if you learned it before. And then you learn something new. And that's that tends to be harder than just learning everything from scratch and going from there.

54:58

So right now, explaining people, yeah, look, this is your wallet and your wallet kind of is the same as your bank account, but it's not you need to store your private keys and you know what are then the private keys and so on. And then people cannot just relate to that as their bank account or something like that but if you start, you know, explaining somebody from the beginning what the wallet actually is how it works and so on. It's probably easier and to understand. If you kind of trying to write something additionally on a piece of paper that's already you know, been written fully, and then just stuffing some more information to, but if you start with a, with a blank piece of paper, it's kind of easy to position everything at the right place, and so on. So, in that manner, I think it is an advantage right now not knowing about the stuff that we currently are using, and just jumping on. I see that the Rok, you did a good job.

Anita Mlakar: 56:08

We have a feedback.

Sandi Bitenc: 56:11

Cool. That's really nice.

Anita Mlakar: 56:13

Okay, Sandi, before ending this conversation, there's another question. Just if you would like to answer it, will you come to the Web Summit 2022, in Lisbon.

Sandi Bitenc: 56:26

When is this one? When is it? I know that we are going to the east Amsterdam that's going to be in April in Amsterdam. But I don't know, right now about Lisbon. I don't have the calendar. So, we might.

Anita Mlakar: 56:46

we will get the info from Gigi, he's asking. Okay, Sandi, this was a really interesting Twitter space that we have. And it was, again, sort of, you know, educating people about things that are coming up. And this is a very important subject, also for the whole Web 3.0 to educate people about what it is and what it will be. And we will be doing more of those Twitter spaces that way.

Sandi Bitenc: 57:16

Yes, we're kind of thinking that that's the good way to go. So, you kind of have these AMAs more focused maybe on the 3air project, but also touching on some additional subjects there. But on the Twitter spaces, we would like to go a bit broader to a bit, you know, educate everyone, and in regards to blockchain, what's coming. also in regards to Africa, because I don't think a lot of people understand what's actually going on in Africa and how the situation there is, even I cannot say that I understand, you know, what the situation there is, in probably, you know, I've been to a few places in Africa, I tried to go into the rural areas where there is no electricity and so on and see the situation there but still, we're so privileged we went there, we drive with some cars and then we just go and sleep in some hotels and so on, you don't really get it, you know, what the situation there is.

58:17

So, we do want to have the stories and notes telling us people that actually lived there how it is, you know, what are their challenges, what's their struggles. also, what's nice there, what they like, you know about. what are they missing, you know, so this is kind of what I would imagine for Twitter spaces and having more guest speakers. And if anybody wants to speak about something, if it's at least slightly connected to either blockchain and all the services that the blockchain can provide, and also to Africa, or to any other emerging economy or something like that, just let us know. And we will set it up. And yeah, we would love to host a lot of new guests.

Anita Mlakar: 59:12

There's a big advantage of Twitter that you can also talk because here only Sandi and me are talking and there's an opportunity for you to become a speaker and then speak up because we have a lot of you, who like communicate and write down maybe you would also like to speak so you're invited really kind to come to Twitter space. Read this comment Sandi. I just saw that the extra 10% will be added to the acquired tokens not the giveaway ones.

Sandi Bitenc: 59:41

Yeah. So, we are adding 10% on the tokens that you bought. Not the one that you got.

Anita Mlakar: 59:49

And Gigi gave us the dates.

Sandi Bitenc: 59:53

Remember, I need to think about I know that somewhere in October. We are thinking about Bogota because the DEF CON is there. So that's the biggest Ethereum event that there is. And that one, I think it was not going on since two years now because of COVID and so on. So, we'll for sure be present there. Maybe we'll just fly back in November to Lisbon. I don't know exactly how the dates are and if there is any overlap, but yeah, sure, why not? if it's a good event, we will for sure. Try and go there.

Anita Mlakar: 1:00:36

Okay, an hour has passed by, I cannot believe that. And we are here at the end of this AMA on this lovely day. Looking forward to the next one next Wednesday at 5pm Central European Time inviting you to participate also in our communities, be there ask questions and see what's going on every day, something new, some new article or maybe a giveaway code or a nice conversation or you can if you see what Sandi or someone else is answering to the questions you can learn more about it. So, you're welcome to join us and be with us on Twitter, Twitter spaces, also here in YouTube every Wednesday. Sandi, Thank you very much for everything today.