This is a transcript from our weekly YouTube live AMA:
Anita Mlakar: 00:05
Hello, everybody, and welcome to 3air’s AMA, I’m happy to have you here. Anita Mlakar is my name. I’m the host of these AMA. We are here, of course, every Wednesday at 5pm Central European Time.
First, let me invite you right now, to subscribe to our YouTube channel. If you’re not subscribed yet, you can also recommend us to someone else, of course, and please be a part and like our channels, we are on discord, on telegram and on Twitter. And this is very, very necessary if you want to be a part of today’s game. Namely, we will give away 3x 100 USD, Yes! Yes! you heard it right. And of course, we have this wish, or maybe it’s a demand that you are actually a part of our channels. And of course, that you are also here at YouTube live right now. And you will be a part of this game that we will play a little later. But first, we are always starting with a short introduction of our project, of 3air before we invite Sandi Bitenc, the CEO of 3air.
So, what we are trying to do and I’m sure you’ve heard of it is connect the unconnected and bank the unbanked and we are connecting people to internet, African people. And if you are unconnected, you are let’s say underpowered majority of unbanked is also unconnected. And we need to give them this internet connection. We are doing that with two technologies that we have, one is K3-One mile solution and our 3air internet that we’re working on right now. And once you are connected to the internet, you get a digital identity from us where you can store everything. It’s actual is provable record. If you, for example want to apply, let’s say for a job or you want to get a loan. And this will be a proof of what you have done so far. And you can verify everything very easily. And of course, you can identify yourself with it. We also create your digital bank account. We are giving you a wallet, it could be custodial or noncustodial. And all this time we are educating you, we’re educating all the people and that is the real empowerment.
The next step is providing financial services. We have Fiat onboarding and off boarding ramp and peer to peer cash crypto onboarding, DeFi, we are working on micro loans and yield farming. And we also have outside partners that will provide additional digital revenue streams. Once we put you through all these steps. You are connected, banked and empowered. So, you have financial tools, you have revenue streams, and you have the knowledge this is what 3air is doing.
Let me invite the CEO of 3air Sandi Bitenc.
Anita Mlakar: 03:13
Hello Sandi and welcome!
Sandi Bitenc: 03:16
Hello! Hello, Anita. Hello, 3air fam.
Anita Mlakar: 03:21
How are you today, Sandi?
Sandi Bitenc: 03:24
I’m okay. Everything’s fine till now. Now I am bit stressed because we’re still waiting for Matt. Just so you know but I heard it he’s apparently trying to connect. So hopefully he manages it because it’s going to be an amazing show if he’s on, he’s really a smart cookie.
Anita Mlakar: 03:44
Yeah, so he’s not unconnected, right?
Sandi Bitenc: 03:48
Apparently right now he is.
Anita Mlakar: 03:53
Of course, we will wait for him because he will give us some additional information about what he’s doing. This will be very interesting. Sandi, what are we doing right now? What is happening at 3air?
Sandi Bitenc: 04:05
Well, right now we are in hibernation mode.
Anita Mlakar: 04:09
This is good also, you know?
Sandi Bitenc: 04:12
Hibernation is good. Well, it’s just the market. It’s not doing anything good. And I hope that Matt when he later joins will give us a bit of his insight on this because he has a lot of insights on the current market situation, but we have talked internally, we have talked with our advisors, we have talked with launch pads and exchanges. And in the end we even spoke with you, with the community a bit and everyone just agrees that right now, it is not the right time to launch a token So, but hopefully things start turning and then we should be, we should be ready in a really short time. Everything is set. I’m just repeating myself, everything is really set to launch the token it’s just we need to wait for a bit of a market uptrend. Hopefully, this comes pretty soon.
Anita Mlakar: 05:20
Yes. I’m sure that Matt will also tell us a little bit about the market and what is going on right now. And, of course, tell us about the decision of 3air for waiting. I think it is really- not only you, but also people who are with us, our community says like you said, it is the best thing to wait, and then use the right time to launch it, right? We have a lot of people today with us Sandi. They’re all saying, hello, hello.
Sandi Bitenc: 05:48
Yeah. Absolutely! It’s interesting. It’s quite lively today. I’m really interested where everybody is from. So, if you can write it in chat that where you from, that would be nice.
Anita Mlakar: 06:01
Because it’s very important to be active today to actually write in a chat, because we will go through the comments when we give away some rewards later, right Sandi?
Sandi Bitenc: 06:13
Yeah, absolutely! We will. So just maybe to go a bit on what else is happening in 3air. So, it’s not that it’s that we’re not doing anything. So, we’re still doing our marketing part. We are still looking for more partners, we are still looking for additional VCs to come on board, like, you know, the smart money that can help us then with all the connections. And yeah, right afterwards so at 9pm our time I have a meeting here in person, one of these meetings. We are currently absolutely working, you know, 100%, on app development. And you saw previous week, we had the demonstration of our NFT platform. So that one is going on also in the background. And we decided to revamp our bit our blog page. So currently, the blog pages, it actually looks the same as the docs page, we just put it on the same system. But now that it’s getting filled with additional content, it isn’t so, so easy to navigate anymore. So, we are doing it a bit differently. And we’ll be probably coming up with a redesigned revamped version Monday, I think Monday maybe even before that, maybe even on Friday. So, it’s very far along.
I can tell you it is a bit more on the east side than it was a month or two ago. So, I can breathe a bit and maybe do some workouts in the morning. It is amazing. Also, Dubai here it’s getting a bit more quiet. People are starting to go away for the summer. It’s just too hot over the summer here. So, it’s also less people here. It’s less events and everything. So, from that part it’s a bit more easygoing, let’s say. We also are right now testing a somebody, a 3d designer so we are onboarding a new 3d Designer. Let’s see we think we found one that has looks like has a lot of potential but let’s see, it’s going to take a few weeks before he comes with some new stuff. So, this is kind of what’s been going on, let’s say in the previous week.
Anita Mlakar: 09:23
Okay, let’s see where our people are from. Greetings from the lovely Niš. Now we have Jimmy from Nigeria. What else? Let’s see, there already some comments also. I hope this project is successful and able to compete in the global market, way to the moon. Yeah! There is a prior question for you Sandi. Let’s see, why have I never seen you in three air outfits, T-shirt or sweatshirt before?
Sandi Bitenc: 10:06
Yeah, because we don’t have a 3air outfit yet. So, we are still thinking about doing some outfits together with the NFTs. So yeah, this is something that we didn’t do very well, let’s say. So, we wanted to do some apparel in the past, but then we started changing a bit our corporate identity and the colours and everything. So, it’s actually good that we didn’t go through it because we would now need to change it. And we are looking into finalizing now everything and then yeah, we need to do some T-shirts. Absolutely!
Anita Mlakar: 10:57
Yeah, I think it’s time.
Sandi Bitenc: 10:59
Yeah, it’s just something was coming between and then we just don’t do it but right now we don’t have exactly, you know, we could do something with the logo, but I would like to really have some cool T-shirts like something special.
Anita Mlakar: 11:17
So, let’s look at this comments a little bit because I see that they’re really commenting a lot today. And it’s nice. This is a fantastic project with great potential, the team’s dedication and ingenuity with excellent fan support will make this the envy of the crypto world. I’m so glad to be a part of this is saying Asif.
Sandi Bitenc: 11:44
Well, thank you. That sounds good. I fully agree! it will because we do have something special going on. And our community kind of feels it already and everyone else. They’ll see really pretty soon.
Anita Mlakar: 12:10
Here’s another question, how reliable and secure is your smart contract? Have you tested it through any of the parties?
Sandi Bitenc: 12:18
So, we did an audit on it. So first of all, what we did is we have a standardized contract. So not many things have changed, we just added actually one line to it that helps us with some security stuff, and some bot prevention stuff. So, this is what we added everything else is actually what’s been, you know the gold standard of usage. Today you usually don’t go and just you know create some new form of token things, it need to be standardized. There can be some additional functions to it but as we are not building directly on Binance Smart Chain just issuing the token for liquidity, there’s really no special need for any additional functions on BSC. So, it’s just going to be what we’ve done is we went to OpenZeppelin, they have the audited contracts there. And we just took those audited open-source contracts and added them to our token contract. And then even if everything was already audited, and like proven with time, we still did another audit just because of that one line.
Anita Mlakar: 13:44
Sandi, I really like your activity today, by the way, really a lot of comments, a lot of questions. So, thank you for that. There’s a question how do you see the future of Web 3.0 and taking this more further which segment will have huge demand in future Metaverse or Web 3.0?
Sandi Bitenc: 14:03
I just missed it. I saw something from Matthew.
Anita Mlakar: 14:08
Yeah, I heard something too. I think he’s trying to connect to us.
Sandi Bitenc: 14:12
I think kind of let’s see somebody went looking for him right now. Oh, we spoke a lot about Web 3.0 already. The Metaverse and Web 3.0. Look, it has a lot of potential for sure. I think Web 3.0 is a really cool thing because what it actually does is it gives you the ability to take possession of your own data, funds and it gives you a lot more power. Just for instance all the biggest platforms right now that are out like Facebook, for instance, they actually own all of your data. And they make money on that. So, and they make huge amounts of money, if we can shift this just a little bit towards the content creators that are actually us, so we could then become the actually, you know, part owners and earn some revenue on the content that we’re producing. So, this is kind of the thing that I see it most valuable, but it is going to come down to probably everything that we actually do is going to be kind of, you know, valued in some coin or token and so on, can also be a bit of a burden, it’s for sure, it’s going to be a switching mentality, a big one. And that doesn’t come fast. This usually takes quite a lot of time.
So, we need to understand that we are starting right now with it and it’s a huge change. It’s a huge shift. And that makes it also a bit risky in that sense. We don’t know if it’s going to get adoption. Well, we don’t know, I firmly believe it will but let’s see, it’s still a big experiment or something like that, let’s say like this but the idea behind this is brilliant. And all the value that it can create. It’s enormous.
Anita Mlakar: 16:43
I was actually in a three-day conference right now. And there was some experts talking also about Metaverse, and there was one and she said, There is no need to rush into Metaverse, you know, just wait, and this is something that will eventually happen. And yeah, but of course it is the future. I think this is something that’s here already. Do we have the answer to that already Sandi, what is the floor price of NFT?
Sandi Bitenc: 17:13
No, we didn’t decide the floor prices yet. It’s going to depend not all of the NFTs will have the same floor price is going to come down to the artists. So, we’ll let the artists decide what their floor price for each of the NFTs wants to be. And it also depends on if we add our own value to it. So, our own connectivity solutions. So, this is also something that will raise the floor price. Because if there is a real-world application to it, so a real-world service connected to it. That is going to be performed, you know, when you hold this NFT, then it’s like paying a front, let’s say for the internet. So, this will for sure raise the floor price quite a bit and let’s see. So that’s not a big thing to decide in the end. And as I said, I would just then let the artists decide for themselves because we are not there to make profits off of the NFTs. We are here just you know, to give you an opportunity to get something really cool. And on the other side, we want to get the artists and we will select artists from around Africa and support them a bit with giving them as much back as possible. Actually, not taking anything away.
Anita Mlakar: 18:54
Sandi, I think we have some new members or some people who are maybe with us for the first time maybe we should answer some questions for them too. This is one of them just to explain. Ambassadors and sponsors have their own power to make fame of the project of course. So, have you entered this stage? Do you already have ambassadors and sponsors?
Sandi Bitenc: 19:15
Yeah, we have quite a lot of ambassadors already, but we’re still looking for some ambassadors that would maybe take over some different languages and you know, help us build a community in different languages. And if you want to apply for an ambassador, I think the best way is just to go to our Discord channel and you have there a special channel where you can, it says I think Apply for Ambassador or something like that. So, you can always apply there and then the team will take over.
Anita Mlakar: 19:58
Another question, there was a lot of cases where DeFi’s getting hacked, or liquidity provided getting stolen, and these cases scare the user, so which prevention’s do you take in order to protect the platform against cyber-attacks?
Sandi Bitenc: 20:14
Yeah, first of all, we are auditing, all our smart contracts. That’s, I think the best way, like, we have already been before that. So first of all, it starts with really good developers. And we do have really good developers on board. We have some experts in security, we have some white hack, certified developers on board. And it’s also comes down to teamwork. So, you know, each team member also checks a bit on the other one, but you know what he’s doing, or they collaborate a bit in between them. So, when there’s something that might be an issue that it’s always discussed. And once it’s ready, then we are giving it to the auditors, and the auditors then need to come and also tell us, you know, maybe this is a potential risk, and so on. So, this is how we are taking on this risk.
Anita Mlakar: 21:21
There are really some good questions coming in, how can the children in Africa be brought to the Learn to Earn feature? How are you planning to reach this target group? partnerships with local schools? Yes, right Sandi?
Sandi Bitenc: 21:35
Yeah. So, first thing that we have is, we will have a service that a lot of people want to use. So, Africa currently lacks broadband, there is less than 1%, broadband penetration. So, there’ll be a lot of people that will be onboarding, and we are already onboarding in Sierra Leone, on the internet, and once they’re on the internet, so once they come to us, and we are connecting them, we can then educate them on all those stuffs. So, this is just a one-on-one conversations and education that we have. And the other stuff is of course, we talked a lot about schools. So, we are we mapped out already quite a few schools that we currently have under our coverage in Sierra Leone but we’re also working on some additional projects in Nigeria, and in Ethiopia. That’s all about connecting students, students and schools on the internet. So of course, there’s huge user bases there but we’re also partnering up with some projects that do education, that do workshops, that do startups and this stuff. So, we do want to do a lot of workshops there in Africa. So, with education, then there also comes I think the users to it.
Anita Mlakar: 21:55
Okay, there are really a lot of interesting questions, we won’t have the chance to answer them today, please do write them down in our channels. Telegram is usually the right place where you can get all the answers. And we will of course, try maybe to answer some of them later but now I think Sandi that we have Matthew Dixon join us. So, let’s invite him on the stage if I should say so. Hello, Matthew.
Matthew Dixon: 23:21
Hello, Anita. Thank you and my apologies. I actually got the time wrong when I saw 19:00. I took it as 9 o’clock. So, apologies for that. And I’ve actually just got back from a run. So, you’ll see me wiping sweat with a towel now and then. So, it’s a pleasure to be with you and just have not been in on this conversation so far but when I first heard Sandi speak about his project at Almas Tower at the DMCC crypto center, I was blown away by the ESG contents, just the sincerity and amazing value adds to the whole ecosystem. So, I love the project. And it’s just a pleasure to be involved. So, thank you for having me.
Sandi Bitenc: 24:26
Thanks! I can say the same to you actually. Yeah, we met at the crypto center here in DMCC in Dubai, and you actually had your talk before me. And that one was also something that really intrigued me. So, great job that you’re doing, but I’m sure you’ll tell all our community a bit more about it.
Anita Mlakar: 24:55
I am looking forward to that, it’s Matt to explain you are a founder and CEO of Evai Crypto and you will introduce us, of course, what you were doing. I read something about it. It’s actually a cryptocurrency rating platform powered by artificial intelligence and machine learning. And I’m sure you will tell us more about it, right?
Matthew Dixon: 25:15
Yeah, thank you, Anita. I’ve actually been a trader most of my life. Back in 2008, I actually did a talk in Jordan, about the financial crisis, the impending financial crisis at the time. And everything worked out exactly as expected. And I was really looking at the macroeconomics, but also the state of the rating system. And so, I was inspired at the time to look into the shortfalls of the rating system. And clearly, you know, everyone’s watched The Big Short and seen that there was bias there, because they were paid by the companies and institutions that they rated. And so that caused a misallocation of capital. So later, a little bit later on, I actually ran an algorithmic trading fund in London in traditional assets, but my wife pushed me to do a master’s degree at Brighton University. And whilst there, I met with a Professor Andrus Gregorio, and actually a number of the other professors there. And we got to looking at the, again, the reasons behind the financial crisis of 2008. And basically, concluded it was obviously a bias of the ratings agencies.
So, I decided at that time, I was inspired to put together a group of foundation of researchers there to build an unbiased rating system. So, what we did, we basically looked at all the academic research over the past 50 or 60 years from Nobel Prize winners and all of the research literature of the time. And we combined that with the latest artificial intelligence and machine learning to build an unbiased automated rating system that’s focused at the moment on cryptocurrency, but actually has the potential to be rolled out to all liquid asset classes.
So that was really the inspiration and what got us started. And we started back in 2019. And we’ve been growing ever since. Obviously, there’s been tremendous challenges and hurdles we’ve encountered. But they’ve made us stronger, they’ve helped us to develop and we’re continuing to evolve. And what we have now is a very powerful rating system that does have predictive ability and can be applied to the assets or crypto assets that we have today with to great effect.
Anita Mlakar: 27:30
That’s just amazing to hear because this is what you said something that is without human intervention. And I was wondering, was it difficult to enter the market with this idea?
Matthew Dixon: 27:45
Well, it’s certainly a challenge to put it together because there’s so much data out there. And you’ve got the challenge of identifying what is reliable data and what isn’t reliable data. So, we’ve actually picked up the challenge. And we’ve developed some AI techniques, which are groundbreaking, our own IP that where we’ve not just taking off the shelf, artificial intelligence, but actually combining techniques, and building our own bespoke techniques to deal with the particular type of data that’s out there. And then also, obviously, identifying all of the factors that pertained to pricing and the asset pricing, and seeing which ones, you know how we can measure those, and then many different ways to measure each.
So, for example, you might look at the risk of a particular asset. And there are many different ways to measure risk. And that’s where the artificial intelligence and machine learning come into, to identify it from all these different data sources to actually process all of that data and identify the right mix of data and the right term sources of data to come up with the best and most predictive ratings. And as I say, it has proved to be predictive, and it certainly helps in today’s volatile market.
Anita Mlakar: 28:57
So, you are evaluating cryptocurrencies, you’re evaluating tokens, what does that sort of evaluation means to the owners of this, let’s say crypto to the companies?
Matthew Dixon: 29:11
Well, there are many different manifestations of the ratings that we are developing. So, we’re looking at a classification model, which looks at underlying long term underlying value. The model we have at the moment is a model that looks at it’s more of a sort of trading model. And it has fairly regular upgrades and downgrades, but it is predictive. So, you know, with a lot of the moves I mean, just for example, it’s just obviously it’s one in the news at the moment, Luna, if you’d follow the Evai ratings it’s seen as it was upgraded at one point I think it was back in- I think back in November time. There was not great there and we got 143% gain on the token from then until peak in the market but even when it was downgraded, so if you bought on the upgrade and sold on the downgrade, it is still made roundabout 100 some profit on the token. And you’ve obviously been out before the big fall, we’re going to say obviously, it was downgraded before the fall happened. And we’ve seen this over and over again, we saw it with Dogecoin, we’ve seen it with, again, if anyone who follows the ratings, I see that they’re genuinely quite predictive.
So, the way we use it is when there’s been a substantial upgrade in a token, a token rating, then it’s a signal to buy the token. And conversely, when there’s a downgrade, it’s a signal to sell. And so, what we’re doing now we’re building use cases off the back of that. So, we’re actually rolling out very soon an AI Fund, which is going to be informed by the ratings. And we’ll help people well, basically, people can invest into the fund. And the utility for Evai will be that the size of the holding you have in Evai will determine the amount of profit share you take from the fund. So obviously, the larger the Evai holding, the larger the bid the percentage of profit that the fund makes. And so obviously, it will depend on the actual profit of the fund. But we’re hoping for this fund to be both long and short funds, so that we can profit not only in up markets, but the ratings are powerful in both up and down markets. So hopefully, we’ll be able to make profits, whether up or down in the market, but there’ll be various manifestations of the fund. And people can choose what they want their own risk profile, etc. So that’s just one utility of the token, but there are many others. And we’re very excited about the future and evolution of Evai going forward.
Anita Mlakar: 31:28
Before we just say something more about the market and what is going on right now. Could you tell us Matthew, who is the team behind you?
Matthew Dixon: 31:38
Well, I mentioned I think I mentioned Professor Andros Gregorio. He’s our head researcher, and Chief Research Officer. He was the youngest professor, I understand in the UK ever. He’s published over 125 peer Reviewed academic papers. He has advised the Bank of England, and many of the regulatory authorities and bodies and institutions. So, he’s very well recognized. And he’s an expert in liquidity and risk. So, he was an ideal person to head up the research team in the UK, we actually have a total team at the moment of 24 people. So, we’ve got other amazing researchers Marcela Taffel, who has amazing capability and work ethic. And she’s a real power behind the ratings, we have Dr. Rob Hayward, who has had 15 years with Bank of America as the head UK strategist. And so obviously a lot of practical experience, but he also works with Brighton University. We have partnered with Brighton University, and also with Peking University in China, which is, I think, number 16 in the world now, we also sponsor PhDs to work on the ratings. So, we have a really solid foundation of research. And that’s really the power behind the ratings is the research, but also, we’ve got a great development team, and we’re looking to grow and continue to grow and evolve. And, you know, certainly grow both research and the development team.
We’re just now at a stage and it’s really great to be partnering with Sandi with not only on his project, but we’re really thankful for the help and support that he’s giving us because we’re at the stage now we really need this to be rolled out for everybody to know about it. We think this is going to be a big positive for everybody to understand better, where the markets are, where the markets are going, because there’s too much hype out there, I believe. And everybody’s been talking about mooning and Constants what I call perma bulls are always thinking the markets going up. But it’s important, I believe, to understand that cryptocurrency is another risk asset. Basically, as I saying that cryptocurrency is just another risk asset in my mind. And it’s really the academic roots that we have from the university from my learnings that University I studied. My dissertation was all about the efficient market hypothesis and trying to understand what moves market, what moves markets and what doesn’t moves the market. So, these were key to the development of the ratings.
But yeah, I think there’s a lot more development and work to be done. And I think this is something that touches every different cryptocurrency in the world, because we do need to understand that what moves markets and that’s what Evai is about giving people a better understanding, creating a level playing field, removing bias and informing and educating people. Not only the traders, the buyers, the sellers but also the cryptocurrencies and the businesses themselves to actually ascertain weaknesses they might have in a business that the ratings can be used to identify those potential weaknesses and to look to improve, so I love a business-like Sandi’s business, a business that helps everybody at every level. And I don’t see any downside to what we’re doing.
Anita Mlakar: 35:11
You have already touched a little bit 3air and Sandi and what we are doing here, according to market and what is happening right now. So, would you say that the decision, 3air decision not to launch token right now is the right one, what do you think of it?
Matthew Dixon: 35:26
It is a really difficult one, obviously, I personally believe that whatever decision you made is the right decision. I trust generally trust you guys, for me. I do think that the market is going to bounce back at some point, I think we will have more downside. So, I think probably looking at it slightly longer term, it’s probably good to delay the launch and wait for the markets to settle for a bit because I think there’s a lot of uncertainty in the markets, with interest rates rising and inflation rising everywhere with growth depressing, then, you know, and in fact, as I just said that the crypto market is a risk asset related to all these macro-economic factors, then waiting for the market to settle is probably a very wise move. And if you get in, you know, if you do launch at the right time, it’s going to be much more positive for the actual price action of the token itself and for the business as a whole. So yeah, in brief, I think it’s probably a very good move to delay a little bit. We actually went out with our token a little while ago, maybe we should have waited longer. We’ll do the best that we can. And I think that we are making the best decisions that we can in the circumstances.
Anita Mlakar: 36:44
Matthew, when 3air token gets out, will you be rating it?
Matthew Dixon: 36:49
Certainly, we will. We’d be happy to we don’t just choose to rate tokens, it will depend on the data that’s available, but I know that there’s a big community behind 3air already. I know there’s a massive appetite for it and much excitement. In Dubai, we talk about its talked about in the crypto center. So, I’ve no doubt that will very quickly be data available. And we can only rate tokens where there’s enough data available. If there isn’t, we rate them as you I think they’ve actually taken us off the site at the moment. And it’s just the artificial intelligence and the data gathering machinery. If there’s data available, then it will automatically be rated we don’t choose because there’s actually no human intervention. I can’t say, Sandi, we’re going to rate your token. But I will say I’m confident that we will, because I know there’s a lot of excitement behind it. And there will certainly be data available. So, I’m sure it will be rated. And I have no doubt. You know, I say I’ve no doubt we’ll see but I’m sure it’s going to be rated well.
Sandi Bitenc: 37:46
So, tell me it’s just you know, the system actually detects a new token by itself. You don’t need even to say there is a new token out just, you know, look into it.
Matthew Dixon: 37:59
Yeah, it does, actually, because the from the data that’s gathered, it can actually pick up so everything is totally automated. So, we wanted to make sure there is no potential for bias whatsoever. So, from the data that’s gathered, and this is the beauty of artificial intelligence that you’ve got the data that’s coming in, and as long as you build the right system, it can automatically add tokens and remove tokens as well. The removal of tokens is actually something we’re working on because we found we only thought about adding them we didn’t think about removing them. Luna obviously brought that to mind. But yeah, it is a system that’s constantly evolving and improving. It’s a great system already. And it will continue to improve because we will always be searching for new factors. And the system will search for new factors and factors that have predictive capability and can be added. You know, we’re going to be adding a lot more in terms of unchained metrics. So, at the moment, we’re gathering data from many different sources, but unchained metrics have a big impact in terms of the distribution of token holders, the size of token holders, the whales whale holders. All these kinds of things have a big impact, which we haven’t really fully taken into account as yet, but I think they will actually be value added to the system that we have.
Sandi Bitenc: 39:23
So, there is no way I can persuade you to just give us a triple A rating.
Matthew Dixon: 39:28
Well, you can certainly try. I mean, that was genuinely, it almost crapped the whole financial world. And it’s only this crazy QE system that when I say bailed the system out, I don’t believe it even bailed the system out. It was a sticking plaster. That still not the system hasn’t been cured as yet. And now they’re trying to draw QE. And we’re seeing that the QE didn’t create any real growth. It inflated assets, which as cryptocurrency is one of those assets, property, equity, all these assets were inflated by the money that was created from QE. Now they’ve been trying to withdraw QE and COVID, obviously caused the contraction as well but you know that that may have been just, you know, I think the big issue is that so much money was created, if you look at the chart, the amount of debt created, that had to cause a problem at some point in time and had to slow down and the moment it slowed down, it’s going to affect growth, they’re in a catch 22 situation now. So, whilst we will see crypto assets along with all other assets, I think correct, even lower, I think that the may be a divergence in the future where we’ll see crypto assets take off because they’re limited supply and for many of the crypto assets have limited supply, whereas Fiat obviously has theoretically infinite supply, and sell long term. I think those Cryptos that have real use case and have limited supply will really start to shine through and you will see a divergence of value there. And that’s where we’ll see in the future where crypto asset prices will eventually rise. Whereas I don’t think you know, I think we’re going to see the end of Fiat eventually. And that’s where we’re going to move over to the digital assets.
Sandi Bitenc: 41:19
You spoke now a bit on the current market situation and everything. Do you have any timelines where you see stuff happening? Like, just what do you think?
Matthew Dixon: 41:38
My personal passion with charting is I use Elliott wave analysis. Elliott, wave analysis doesn’t really give you timing, but I do know whereabouts we are in that cycle, from the top in Bitcoin and in actually virtually all of the assets, because they all tend to follow Bitcoin/Ethereum, we’ve had what’s called a triple correction downwards, which is the WXY correction. And we’re getting towards the end of that correction. So if you think a Bitcoin at 68,000, whatever it was, from there, we’ve had, if you can picture it, an ABC down, which is a W wave, a small ABC up, which is next wave, and then the final Y wave is also going to be made up of an ABC down, we’ve completed the A wave down, we’re working currently on a B wave, which is a kind of sideways kind of wave, which so we’re seeing a bit of sideways, we’re going to see a bit of consolidation in the market for a short period of time. Before we see a final way wave, we will see the C Wave of the Y wave down. So, this means that we, although I can’t give a time using Elliott Wave, we’re getting towards the end of the correction. So, it has dragged out quite a long time, if you think when was the peak was it back in November from memory, I can’t remember exactly when this was. So, if you think where we are now six months on from that, so we’ve actually completed a large part of the correction down.
The markets tend to be forward looking. So, whilst the maybe still the worst to come in terms of the economic metrics out there. I think that the went before we even see the worst of that the econometrics, we will see a turnaround in the asset pricing. And so, I think most probably towards the latter part of this year, I think we’re going to see a rally. So, we’ve got more downside to come, unfortunately. But after that, we’ll see a concerted rally. And I think we’re going to at least rally to the previous all-time highs, and possibly even move beyond that. So, I do see comfortably moving to previous all-time highs as in my mind, it’s pretty much nailed on.
Anita Mlakar: 43:50
There is one question over there. We have a lot of questions, I really see that there are really a lot of questions in the comments. But here is maybe just wondered that I picked Are you planning to add human rating feature too and then adding Evai rating and human rating and give total ratings? It’s a question from Tejas.
Matthew Dixon: 44:11
Okay, what do you think of human rating, we don’t plan to put any human aspect into ratings at all, there is always the potential for bias? The way I see it, the centralization always brings problems. So, if you think about even historically, throughout the history of the world, every time you see centralization of power, you see abuse of that centralization, and that’s user bias, obviously, self-interest, whether it be in government, nations, institutions, whatever it might be, when you see centralization, you tend to see usually, there’s certainly at least potential for bias there. So, if we start to bring human ratings in there are agencies that rate on a human basis, but if you think about it, there’s currently 18,000 around about 18,000 crypto assets out there. Now, if you had a panel of human beings trying to raise 18,000 assets and give those ratings on real time, or pretty much real time, it’s genuinely not possible for a panel to sit down and discuss 18,000 Crypto assets and give real time ratings.
So, I always like to sort of equate this to the power of artificial intelligence, how it’s grown over the years. So, I equate it to the first artificial intelligent computers, which actually started back in the 50s, I think it was about 1997 I think Deep Blue was the artificial intelligence computer that first beat Garry Kasparov, the world chess champion, and was the first computer machine to beat a human being. And since that, obviously, 1997, we’ve had 25 years’ worth of improvements in computing power, improvement in AI techniques and development of those AI techniques. So, it’s gotten more and more powerful. So now when you focus artificial intelligence on a particular problem like this, and the power of gathering all of that data, and utilizing all of that data to come up with ratings, it far out powers the possibility that any human mind or even a group of human minds can manage. And so, the future is definitely in artificial intelligence. And so, I don’t really see any value whatsoever in bringing potential bias from human input.
Anita Mlakar: 46:33
Thank you very much. Sandi, do you have any more questions? I mean, we have a lot of questions.
Sandi Bitenc: 46:41
I don’t know if you if you told us, but how many are you currently taking into consideration when you rate a token?
Matthew Dixon: 46:53
Yeah, we currently take into account nine factors, we’re looking to grow more factors. So, you can actually see on our website, which is Evai.io, you’ll be able to see all of the factors there. So, you’ve got risk, you’ve got liquidity, you’ve got sentiment, etc., etc. There’s nine different factors. And each of those factors, so for example, it look at risk alone, you’ll see there’s many different ways to measure risk, no one measurement is the right way to measure risk. They all have their own particular contribution to make the overall measurement and the overall contribution, that risk makes to token evaluation. So, you know, when there’s multiple indicators, within each factor, you’ve got many different indicators and factors that are all grouped together. And again, that’s why you need an artificial intelligent machine to be able to manage all of that data, to evaluate the exact balance between all those different indicators and factors to give the best possible results. And it’s continually evaluating that and continually improving and continually learning and getting better and better. And this is why, again, it’s just the power has been phenomenal in terms of being able to identify assets before the actual asset moves in price.
So, with Luna, with Doge and with, we actually posted on a website, many of the upgrades and downgrades and the movements that have, and we actually show when the upgrade took place. And we’re going to be introducing notifications very soon. So, people can get have their own watchlist of the tokens that they particularly like to trade. And they can get notifications when it’s upgraded when it’s downgraded, and they can trade accordingly, or they can just put it into our AI fund. And that again, is going to be launched very, very soon. And the AI fund will automatically buy and sell according to the ratings. And again, as I say that the holding of Evai that you have will determine the actual profit share that you take. So that’s just one of the utilities, among others. And we’ve had a lot of institutions already approaching us asking for us to share our API. And we’ll think carefully about whether that’s the right thing to do, or whether we should just keep it to our own AI fund.
Sandi Bitenc: 48:58
yeah, if everyone actually starts using the same method, it actually kind of loses its power, doesn’t it?
Matthew Dixon: 49:11
It can lose its power, it can, or it can become sort of self-fulfilling in terms of if Evai upgrades a token. And everybody buys it because it’s upgraded, then it could even if it were a bad prediction, you could actually become self-fulfilling. And we saw that with the likes of Robin Hood, and the power of the crowd following people saying such and such a thing. So, we would like to keep away from that. We don’t want to actually influence the market in any way. So, we’re not going to be giving any information to anybody in advance. I think it’ll be available as soon as it becomes available. And it’ll be based purely on the factors that we use. And then I think that the power of the ratings is already showing itself without the power of the crowd. So, I think it’s not looking at so fulfilling, I think we are looking at genuine predictive ability here.
Sandi Bitenc: 50:05
So how can the end user actually best profit or use your app Evai? And this is one question. The other one is, what are you looking for right now as a project?
Matthew Dixon: 50:24
Okay, we’re at the stage now, where we’re just beginning to roll out the utilities for the token. So, our focus for the past nearly two, three years, I think it’s going to be three years now, our focus has been purely on developing the ratings to a level where it does have predictive ability, and it is useful to people in the marketplace. So, we raised quite a lot of money from seed funding to get to where we are, we do want to continue the evolution of Evai, we are yet we’re just about to roll out a subscription model. And also, we’re going to monetize through the AI fund that will begin to raise funds. But we are at a position or a stage now, where we want to build you know, it’s a universal use case, it touches every token. So, we think everybody in the world should know about Evai. So, we want to promote Evai, we’re just now beginning to get the marketing moving. And to start to inform the whole world about what we’re doing and tries to just get word out there, we are looking to raise further funds. And so, there’s opportunity, obviously, through the tokenization. But also, there’s an equity sides of the business. And the token itself will be you know, it is monetized through the tokenomics of the business and as a sales tax where every Evai holder actually, just by virtue of holding the token, they get a reflection back from any trading that takes place. And we’re currently on Pancake Swap.
We will be partnering with centralized exchanges, because they actually have an interest in using our ratings, because it will help inform their users and their traders on tokens to buy the tokens to sell and get better information there. So, it might help in form their traders better but also help improve trading activity. So, there’s good partnerships to be had there and monetization to be had there. But we’re definitely looking we’re at the stage where we want to just get the word out there, get the marketing moving. And we do need to raise further funds, continue the research and to offer the opportunity to everybody.
Anita Mlakar: 52:30
Thank you, Matthew, thank you now before we close up this. We do have some- I would like to add some human aspect to it but it considers you Matthew, such as you know successful man, with such a business and so many things to do. As we saw earlier, you’re taking care of your health also with like you said running and stuff like that, what do you do in life, you know, to, I don’t know, to live healthier to have some time for yourself for the family? And how do you do that?
Matthew Dixon: 53:07
It’s actually quite difficult as anybody knows, this is still even though I’ve been running through years, it is pretty much a startup business. And it takes over your life for the time being so yeah, when I get an opportunity actually running is just a relaxation for me. Some people might see it as a strenuous activity, it’s actually a relaxation where you can just empty your mind completely. So that’s my relaxation. So, I try to spend a bit of time my wife at weekends. It’s really difficult at the moment. Yeah, I’ve got a great team which I know will you know they’re already carrying a lot of the weight and the business running the business and as things progressed further hopefully I get a little bit more time there’s been more balance in life but it’s a passion for me. And I know same with Sandi we actually love what we’re doing even though it does take over your life and we have to actually it’s a discipline to try to make time for family we need to do more of that certainly and a bit of exercise and in terms of eating healthfully we burn so much energy my thing is I just eat as much chocolate as I possibly can. And that’s what keeps me going.
Sandi Bitenc: 54:23
We can always share the chocolate. You take the milk chocolate I take the dark chocolate, I am not eating any of yours.
Anita Mlakar: 54:36
if something and then I’m not sharing a chocolate, right? Thank you very much, Matthew, thank you for taking your time because I know that you don’t have a lot of it, and you still decided to be with us and to explain what you’re doing. Also explain a little bit about the market. And I really appreciate that. So, thank you again. I hope you will join us again.
Matthew Dixon: 55:00
I’d love to. And I would like to obviously, say that, please follow us on our telegram. So, the Evai Evolution telegram please follow me personally, we have an Evai, Twitter, of course, my own personal Twitter, which is @MDtrade. It’s got quite a reasonable following. It’s just grown very quickly recently, because I talk a lot about the markets and where the markets are going. And actually, have been, you know, from the top of the market, I was saying to everybody we’re expecting, I’m expecting a correction in markets a substantial correction. And everybody was Pooh poohing what I was saying, This is rubbish, the market is going bitcoins going to 100 to 50,000, whatever. And people are coming back now saying you’re actually you’re right. And the thing is, it’s actually followed the Elliott Wave analysis, my Elliott wave analysis precisely, not everybody’s because, you know, some people may, but I think when you do your analysis correctly, and I’ve done this for so many years now, and when you tie it in to the Fibonacci relationships that it has, and you know, the golden ratio, 9.618, and an 8.382, and so on, and you look at the relationship between the various waves. And when you have the experience to relate the various waves, so certain waves have particular Fibonacci retracements, and so on, you can get a really accurate picture of the market. So, I believe I’ve got a very clear picture of where the market has come from, I had a picture of where the market has gone to, to date, and I have a picture of where the market is going to go to, and where the market will turn around.
So, I’ll be following very closely following the shorter time fractals, to identify the turn in the market. So, people who are following me, hopefully will be able to benefit from that. And I genuinely love to share this, I don’t charge anything for those services. In fact, we don’t charge anything for the ratings, we will have to monetize at some point. But we’ll always offer some of the ratings for free. So, there’ll be a benefit to everybody at all times for free. Some of the high-level ratings, the pro levels will be a monetization there. Because we’ve obviously got to pay the wages and continue to develop. But yeah, please follow me for free on @MDtrade follows us @Evai, subscribe to ratings. And we’ll happily continue to collaborate with Sandi, we’re going to invite Sandi onto our group, we’re looking forward to interviewing him. Yeah, and thank you so much for this evening. It’s been a pleasure to be here.
Anita Mlakar: 57:32
Thank you very much. Thank you for your time and wishing you all the best.
Sandi Bitenc: 57:36
Great insights! great! really an amazing project. And still, you have one more task to do. And that’s actually a nice one. So, you need to pick one guy or girl. Then get 100 BUSD from us. And then I’ll pick one and then it’ll pick one. So, I don’t know. Do you see the chat in on the site?
Matthew Dixon: 58:05
I did. And I just saw one Diane White just sprang out I mean, no idea who Diane White are just sort of flashed by on chat, whoever that might be. Did you see it?
Sandi Bitenc: 58:16
Diane White, this, you see it on the screen now.
Matthew Dixon: 58:21
It’s just flashed by actually. It’s just going off screen about 20.
Sandi Bitenc: 58:26
Just look at the at the full screen. There is the three hearts. On the screen. Not in the chat. Where you are actually you see yourself?
Matthew Dixon: 58:41
Diane White, yes, yeah, this one, right. Yes, that’s the one.
Sandi Bitenc: 58:46
Okay, Diane White you get 100 BUSD from 3air from Matt. Well, congratulations.
Matthew Dixon: 58:59
Yeah, congratulations Diane,
Sandi Bitenc: 59:01
Yeah, if you can send us your telegram handle in the chat would be amazing else. Just contact us over email. And we’ll identify you there. So that we don’t give you know the price to some to somebody who doesn’t deserve it. Who didn’t win it? So yeah, the next one, you want to stay with us till we pick someone else?
Matthew Dixon: 59:34
Yeah, so you’re going to pick one next Sandi or Anita?
Sandi Bitenc: 59:37
I’ll pick one. I’ll just do it like this, and I’ll click something. Okay, let’s see who comes up AVAIDN. Great feedback, and congratulations. Yeah and other 100 BUSD.
Anita Mlakar: 1:00:05
And now me, right?
Sandi Bitenc: 1:00:07
Anita Mlakar: 1:00:09
I’m going to pick one because I was really going through the comments and get engagement of everybody. And I would I really liked all the comments and the questions coming from Tejas Patel this is to whom I am giving the award.
Matthew Dixon: 1:00:28
Sandi Bitenc: 1:00:29
Yeah, please contact us on the email that you find in YouTube on our YouTube channel. And yeah, the team will take it from there.
Matthew Dixon: 1:00:49
Amazing. Congratulations. And thank you. It’s been a real pleasure. And I look forward to having you back on our show.
Sandi Bitenc: 1:00:56
Anita Mlakar: 1:00:56
Thank you Matthew and thank you for being with us. Thanks.
Matthew Dixon: 1:01:01
God bless you. Thank you! Bye.
Sandi Bitenc: 1:01:04
Anita Mlakar: 1:01:04
Bye. Sandi, what we have to do right now is just wrap it up because we have given everything that we had. And we had a nice conversation. Oh, my God, it was really inspiring and full of information.
Sandi Bitenc: 1:01:17
It was a really good show today. I really liked it.
Anita Mlakar: 1:01:21
So many comments, so many engagement. Really, thank you. Thank you for doing that. For all the questions. If you have any more, please do put them in our channels. Like I said at the beginning, please do like our channels, be a part of the channels, be a member of them on Discord on telegram or Twitter. We are here every Wednesday on YouTube where you can follow us live and of course ask questions. And actually, all the time. Sandi, also you are active and giving the answers right.
Sandi Bitenc: 1:01:54
Yes. So, I’m actually thinking about having once per week maybe just after our AMA another AMA just on telegram. So, I’ll be present there for an hour but not today. I need to I need to really run off to a meeting right now. But let’s say from next week on we can do it. So, after the AMA on YouTube, we just go for an AMA on telegram, and I’ll be answering all the questions there.
Anita Mlakar: 1:02:28
Great staying connected. So that’s it. Thank you very much Sandi. Thank you for taking your time, take care of yourself. And all of you of course who were with us today. Have a great day, evening, whatever it is where you are, and we will be back next Wednesday.
Sandi Bitenc: 1:02:44
Excellent! Yay! Bye.
Anita Mlakar: 1:02:47