Table Of Contents
This is a transcript from our weekly YouTube live AMA:
SPEAKERS: Anita Mlakar, Sandi Bitenc, Ruba Aramouny, Rok Mihailović Krpan and Karnika E. Yashwant.
About AMA: On this week’s AMA, we’re talking to Karnika E. Yashwant - Mr. KEY.
AMA Duration: 01:02:09
Anita Mlakar: 00:02
Hello, everybody, and welcome to 3air’s AMA. I really like this intro at the beginning, it is so powerful and so nice and it’s new. I’m not sure if you have seen it before. I really like it. I’m really grateful to have you here. Thank you very much for being with us for being a part of this AMA because it’s going to be a good one. As always, a very interesting one, we have a special guest coming up. And of course, we have members of our team. They will join us a little later after a couple of minutes. While I do this short introduction, Anita Mlakar is my name. I am the host of these AMAs every Wednesday, 5pm Central European Time. Some of you are used to our AMAs, maybe some of you are new here. But let me just tell you, you have the opportunity to ask questions, to write comments, you are welcome of course to write down anything you would like to know about 3air and our project and opportunity of getting the answers is great, because Sandi Bitenc the CEO of 3air will be here. Ruba and Rok, they are really important. members of our team are also here or will be here in a couple of minutes. And of course, the opportunity to answer your questions is looking great today.
I would like to invite you to be a part of our channels. We are doing great on Discord, on Telegram on Twitter. And of course, we are here live on YouTube. So do subscribe to our YouTube channel, use this opportunity to be with us also live every Wednesday. And maybe also on some other occasions.
Let me just do a short introduction of our project. I do that every time. So 3air is here for the long term, provide real services to the people and we will be here for the years to come. And everyone who joins us in this journey will be proud of being a part of this change. Our project is focused on wide range of digital services and internet to our prospective users in Africa. So, what we’re trying to do is connect the unconnected, bank the unbanked so we are connecting people of Africa to internet, and we are doing that with two technologies K3 Last Mile Solution and 3air internet. So, you will get digital identity from us, we also create digital bank account giving you a wallet.
The next step is providing financial services, we also have outside partners that will provide additional digital revenue streams. And in the meantime, all this time we are educating people and that is the real empowerment. So, once we put you through all these steps, you are connected, you are banked, and you are empowered. And that is a really good feeling. And that is our goal. I’m happy to introduce as always members of our team. Let’s see if they’re all here. Sandi Bitenc, CEO of 3air.
Anita Mlakar: 02:56
Hello, Sandi. Hey!
Sandi Bitenc: 02:58
Hi! I hope this is now working because I literally got it up and running, I think five seconds ago. Can you hear me?
Anita Mlakar: 03:08
Yes, you are on. We can hear you, we can see you. I’m really happy that you’re here. Thank you!
Sandi Bitenc: 03:16
But we need to work on your audio because you had the same issue right as last time. I don’t know, even if it’s connected to your earplugs or any of those, I don’t know something’s not right.
Anita Mlakar: 03:33
And it’s always happening when I’m alone, right? When you come in, it’s better.
Sandi Bitenc: 03:41
When I come in, it’s better. I think after a while it starts.
Anita Mlakar: 03:45
Okay then we will have to figure out. Okay. Ruba Aramouny is also with us, the Head of Marketing.
Anita Mlakar: 03:53
Ruba Aramouny: 03:56
Hi, everybody. Nice to be in here.
Anita Mlakar: 04:00
Hello, Ruba. And we have also Rok Mihailović Krpan with us, Head of Development.
Anita Mlakar: 04:06
Rok Mihailović Krpan: 04:06
Anita Mlakar: 04:07
Nice to see you. How are you Rok?
Rok Mihailović Krpan: 04:12
Perfect. Same as Sandi just joined. Got internet in the last second.
Anita Mlakar: 04:20
Oh my god really great. So, we will invite also our guests in a couple of minutes. But first we would like to give a word to Rok because he will give us a short update about what is going on. And then Rok I have heard that you have another things to do, Of course and you will be leaving us so the word is yours.
Rok Mihailović Krpan: 04:42
Okay, so let’s start first with our app and our marketplace which we’ve worked really hard on for the last a month or even two. So, on Friday or Thursday, not really sure we made the final update. So, it’s Finally, like the new updates with the updated marketplace with are multi chain integration, like last week, I was talking about how we manage to connect multiple chains, we like integrate everything with what we call Chain Connectors. So, at last, we actually put this online, we connected Binance Chain, we connected OKX chain, and have NFTs and both just approve our concept is working. And there’s no problems with it. So, this is already operational.
The next thing we did is we finished the staking contract, which will be live as soon as we launch. So, we’re kind of already integrated with we’re just fixing up some design parts of it to look as we want it. So, what else we were preparing for launch. So, what we are doing on development is like, not try to do a lot of new things that could break. So, we’re fixing or checking everything up.
The next thing we’re doing is for you to make everything simpler to buy token, we’re also directly integrating the PancakeSwap into our website. So, if you want to buy 3air or trade 3air, you won’t have to go to, specifically to PancakeSwap, it will all be doable directly for all our app. So, this should make things a bit simpler.
Sandi Bitenc: 06:39
Forget about this staking contract?
Rok Mihailović Krpan: 06:43
Didn’t I say it already?
Sandi Bitenc: 06:45
I don’t think you talked about it.
Rok Mihailović Krpan: 06:49
I think, I said we’ve just finished a staking contract right now.
Sandi Bitenc: 06:52
Then I overheard it.
Rok Mihailović Krpan: 06:55
You probably overheard it there. So, to say it again, just for you, as we finish the staking contract. We integrated it, we tested it in the app, we’re fixing just design issues. So, after everything gets integrated, it should be ready soon.
Sandi Bitenc: 07:10
What I do like is the graph that’s showing the token release and that’s actually read directly from chain data, right?
Rok Mihailović Krpan: 07:18
Yeah, it’s all generated directly from chain data. So maybe we’ll need to do some updates on it if we like change something in the future. But yeah, it says exactly how much tokens there will be released on the specific date. So, everybody can do their own calculations and everything.
Sandi Bitenc: 07:40
Yeah. Most of it, we are just preparing stuff for launch and making sure everything runs smoothly.
Rok Mihailović Krpan: 07:51
Yeah, like we don’t want anything weird. We’re double testing, and then triple testing and testing one more time just to be sure that everything works. And at the end, let’s do another round of testing, just to be sure. Most of it is already integrated.
Sandi Bitenc: 08:11
Maybe you have any updates on the TV app, when this is going to be available to our users. I know some of them are really eager to test it out a bit.
Rok Mihailović Krpan: 08:23
Yeah, so what we’re currently doing, we have an Android app already, that is usable and can work already. We still need to do some legal things with the telecom because in most jurisdiction, it’s not like really illegal thing to just provide TV to whoever wants it. So, we’re just fixing some legal things up to make it work.
The second thing that we’re doing on the TV is app is preparing it to like, make a best solution to put it on Apple. It’s easy to make it for Android because you just share the APK, and everybody can use it. But once we get to the iPhone part, it’s a lot more complicated because Apple has like a really strict rules. You can’t distribute the file. You can’t put it on the App store if it doesn’t follow the 1000 procedures and checklists. And because it’s a TV app, the Apple requires everyone to have like, whole documentation for a whole bag of papers to just approve the evidence for TV to be on the store. So, we’re trying to find a solution for everyone to work. So, we just don’t say like, yeah, it will be only for Android and everyone else. Forget about it. We try to please everyone.
Sandi Bitenc: 09:42
Yeah, either way. It’s just for a bit of a testing purposes and to see how it works. Let’s see if we can get something pushed out.
Rok Mihailović Krpan: 09:52
Yeah. But okay, we could do Android ASAP. I mean, maybe we make a Telegram group for users that have Android, I want to see it as soon as possible.
Sandi Bitenc: 10:04
That’s a good idea.
Rok Mihailović Krpan: 10:06
Yeah, I think this should be good. I’m not sure. I mean, we can’t do like a full scale, like 10,000 users on it. But for some specific users, or some people that want it, I think we could get over the long procedure and like, get it to their phones in a matter of days, or maybe even hours, depending on purpose.
Sandi Bitenc: 10:28
But as said, so this is actually, the TV app is actually more or less intended for people to use it in Sierra Leone, we are just going to give a bit of access to some users outside you just have a bit of a taste. Right now, it’s outside our system, it works a bit differently because right now, everything is through internet but when we have it, you know, inside of our system, it works a bit differently. Is that correct?
Rok Mihailović Krpan: 11:00
Yeah, for the out it is different in the distribution protocols and encryption and everything else. Because like, every TV channel needs to be encrypted in the network, you need to protect it, you need keys, you need licenses, you need a lot of things to be able to do it.
Sandi Bitenc: 11:22
Rok, I think you have a lot of stuff to do, right?
Rok Mihailović Krpan: 11:24
Anita Mlakar: 11:27
Are you kicking him out? Or what are you doing right now Sandi?
Sandi Bitenc: 11:30
He still needs to test. He said to us right now that he’s still testing. And after he’s finished, he have a lot of work.
Rok Mihailović Krpan: 11:43
We should employ a team of testers, let’s have 10 People just for testing, just for clicking. We’re gonna pay them for clicking the mouse.
Sandi Bitenc: 11:52
I can get through that probably.
Anita Mlakar: 11:56
I’m sure a lot of people will be saying, take me, take me. I will not be the one joining. I will not be testing it. But you know, I’m sure a lot of people would. Rok is still here, there’s opportunity for you to ask questions, write them down. If you want to know anything, he has the answer to everything, right? All the answers, but I’m sure that Sandi already asked what he wanted to hear. And of course, what you wanted to hear because this is more of a technical side. Thank you very much Rok. Where are you going right now?
Rok Mihailović Krpan: 12:33
I still have some appointments now in the afternoon. So, I think I’ll be home, 9/10 definitely not sooner.
Anita Mlakar: 12:43
In the morning or in the evening?
Rok Mihailović Krpan: 12:45
At least in the evening.
Anita Mlakar: 12:51
Okay, thank you very much, Rok. Thank you for being with us. If you have another minute or two, of course, you can stay tuned. Stay with us. Okay. We will be happy to have you here. But otherwise, do your work.
Rok Mihailović Krpan: 13:04
Anita Mlakar: 13:07
Rok Mihailović Krpan: 13:07
Sandi Bitenc: 13:09
Rok, just give us a second. So, Richard actually asked what will happen during the launch technically? so what’s there technically to be done?
Rok Mihailović Krpan: 13:22
Okay, so we were trying to do the launch, as like to have as little interaction on the actual launch as possible to automate it. Because when you do things last second, everyone is nervous. Everyone is trying to do the best. So, technically, we’ll still need to do a few things. So, at the beginning, we’ll still need to like, check if the security of our token is like, okay, because we have some security process in it. There, then we’ll need to like enabled in the value investing contract because like we have it lock so nothing happens before it. We will need to provide liquidity on the DEXs because it needs to be done manually. I mean, we could write a program to do it automatically but it’s better to like to do it manually, because we have more control over it. And we’ll probably also enable the staking so everyone can start staking when the launch is here. And then we need to push an update to the app because at the time of launch, we will have our token out we will have the price, we will connect for a collect price. We will start displaying charts, we can start displaying relevant information on the token so this all needs an update. And probably there are still a few things that I miss right now but like this is the most of things that I just get from my head at the moment.
Sandi Bitenc: 15:03
So, in a sense we are trying to do stuff up front, and then more or less just flipping switches, turn this on, turn that on and then pushing a change to the front end of the app and that should be more iterated.
Rok Mihailović Krpan: 15:19
So, it’s not like we will do any programming in the last minute or any development or any hardcore changes. It’s just like, Okay, we have the app ready now is launch like, enter, update. And then okay, we need the vesting activated, Now, enter activated. So, we’re trying to like just to make it like, pressing 10 buttons and launching a rocket and that’s it.
Sandi Bitenc: 15:43
And we’re also doing a full walkthrough before we do that a few days before, so that we have it all set and we see it’s running smoothly, and everything is working as it should.
Rok Mihailović Krpan: 15:54
Yeah, every time we try to do on deployment, there is one software on the blockchain world, it’s called Ganache. So, it’s actually a software that allows you to make a copy of the live blockchain, performing actions on it the same way that you would on the actual blockchain just without actually doing it on the live net. So, we’re like, before the launch or before any major thing that we do, like, we take a copy of the main net, do everything we wanted to test net, verify that the our parameters are okay, the time is correct, like, all the workflow is okay, every transaction works through, so it does not fail, there are no reverts in the code, like, basically do the whole launch before the actual launch. So, once we do the actual launch, we already have like a list of comments and list of tasks to do. And so like, we just do exactly the same thing one more time, and they kind of can’t be a problem this way.
Anita Mlakar: 17:01
Okay Rok, Richard is also writing, can we click in the app to start staking?
Rok Mihailović Krpan: 17:09
You will do it once we actually have the token launched. So, as we launch the token, as it goes into the exchanges, we will also publish an update on the app. And in the update, there will already be an option on listing. So, I sent the already explained this taking starts only a month after launch, because this is like by our tokenomics and everything, but you will have an option to like already stake tokens at the beginning, like immediately once you claim to be the first in it. Like, you don’t have to wait for it, and we also have an option to directly stake it from the vesting. So, again, you like spare some transaction fees, you don’t need to claim tokens and then later stake them, you just press one button, and you will directly get tokens from the vesting contract, put them into staking, create everything with one click, when you click you actually get it from the vesting and stake it immediately. So, it’s a bit simpler.
Sandi Bitenc: 18:07
There was a question before, I think also Richard asked that. And it was if you need BNB to enter into the staking contract?
Rok Mihailović Krpan: 18:24
Yeah, okay. So, like for every transaction on the Binance Smart Chain, Of course, you need some BNB to perform the actual transaction to, like pay the GAS fees. I mean, the GAS fees are really low and BNB. It’s like we’re talking cent or part of cents here. But you need some of it, like at least some small part. You don’t need to console or something in it. So just have a little bit ready just to pay for the GAS.
Anita Mlakar: 18:56
Okay, did we use the questions on Rok, use all of the questions. We did, I think.
Rok Mihailović Krpan: 19:04
Yeah. And if not, I’m still in the Telegram group and everything.
Anita Mlakar: 19:09
Yes, you’re active, you are also giving the answers. Thank you very much, Rok.
Rok Mihailović Krpan: 19:15
So okay. Thank you.
Anita Mlakar: 19:17
Okay. Thank you.
Rok Mihailović Krpan: 19:18
Thank you, bye.
Anita Mlakar: 19:22
Why you’re already living I’m so sad. Sandi, would you like to add something before we invite our guest, I know that you will give us the update later on.
Sandi Bitenc: 19:35
I’m really eager to get our guest on.
Ruba Aramouny: 19:37
I think we should ask Sandi where is he right now.
Sandi Bitenc: 19:52
People can actually, I sent some pictures already. And so maybe let’s ask the audience where they think I am, I’m in front of a white wall.
Anita Mlakar: 20:07
Okay. As for the reward is lunch with Sandi, when it comes to your country. Whoever answers correctly. Okay, now let’s do this now. So, we do have a special guest coming up today. We did the announcement, and we are really happy to have you here because Karnika E. Yashwant, co-founder of Forward Protocol is with us. And we’re happy to have him here.
Anita Mlakar: 20:34
Karnika E. Yashwant: 20:36
Hey, I’m very happy to be here and communicating with this amazing community.
Anita Mlakar: 20:43
So are we. We are happy to have you here. And of course, they have the opportunity to get some answers from you. How are you? Are you okay?
Karnika E. Yashwant: 20:51
I am Yes. Yes, I am. Very excited.
Anita Mlakar: 20:57
Okay, I have this feeling that we are all in a little delay today or you know, we’re not synchronizing somehow, but we can hear you and we can see you. So, that’s good. And of course, we do understand you. And that is the most important.
Anita Mlakar: 21:13
First of all, everybody who is with us today, if you have any questions for KEY, please write them down. And in the meantime, of course, we will be the one giving questions KEY will be the one answering questions, of course. So, for starters, I would really like you to introduce a little bit what you are doing. So, you’re a blockchain expert. You understand blockchain better than most. And you did, in a way, described yourself with a couple sentences or words. You said you were an entrepreneur, educational reform enthusiast, Blockchain Marketer, Speaker and life coach, and so on and so on. And I would really like to hear, you know, going through these points more about that.
Karnika E. Yashwant: 21:59
Sure thing. So, my life has had journey across all the various things that you mentioned but once I got into crypto in 2013, I’ve been looking at every trend in the crypto space. And the thing that excited me the most is the true value moving on chain. And that is that’s the Web 2 trying to establish in Web 3, bringing the value from the real world and making blockchain technology as a base for them to work. So that’s what excited me, and I’ve been working on that for many years. And so, when looking at even a project like 3air, it reminds me of why I did everything in the blockchain space all those years. Because if you look at the time when I entered, and those were a beautiful period, you didn’t have so many projects, you don’t have all those different noise that we have here. Those were the times of real developers just doing their things and just putting their applications out in an open-source manner. And that was a time when I was working with a lot of interesting brands in the crypto space. And to fast forward to right now, it’s a lot of glitter, lots of bells and whistles, a lot of noise. But the real stuff, the real information and the value and anything that people would want to use has gone down drastically over the period of time. So, when we see some business, that is actually bringing it back to life, I get pretty excited. Because that’s what makes the entire space safer, better and interesting for all of us. And that’s why we all started this entire Blockchain Revolution from a decade ago. And so yeah, here I am.
Anita Mlakar: 23:50
Okay, do you hear me? Yes. Okay, you are here. Yes, you are. And you were maybe I should say not an early adopter, but really starting early in this blockchain technology. And started early in business or being aware of the business. You were like 14 years old, right?
Karnika E. Yashwant: 24:09
Yes, I dropped out of my 10th grade, and I started my business at that point. Yes!
Anita Mlakar: 24:16
This is courageous, because you were like a role model to, I’m sure to a lot of people and just following your dreams or following what you really loved or what you thought or where you thought that the change could be made. And that is special. So, is that something that is still in your mind, you know, going through all this business and everything that you’re doing?
Karnika E. Yashwant: 24:38
I think the primary reason I stopped my education is not just to follow my passion it was that a system that existed was not really up to the excitement that I needed at that point in time. I wanted something more I wanted to explore. I was curious about a lot of things in life, and that curiosity is what drove to programming coding and what’s behind the computer. How does this internet work, how to access and the screen and then we press something, and then there’s an action happening there. I was just curious about life, I was curious about technology and everything around us. And that curiosity drove me. And I think that drives me still, because I think that’s even more now than ever before. Because you find more things that are beyond your default understanding in the blockchain space. This is a space where new things are formed, and 100x faster than probably 10-15 years ago. So, I think this drive towards learning, drive towards exploration, and the excitement and passion that comes from that can get us anywhere.
Anita Mlakar: 25:53
Okay, now, you are also a speaker, right? Were you speaking at Meta Week, that day?
Karnika E. Yashwant: 25:59
I was just couple of days back.
Anita Mlakar: 26:02
A couple of days back, okay. And, of course, there are so many people who want to hear what you have to say but maybe when you started, it was not so easy. So, what did you do to be heard? You know, how did you come up with new ideas or something that you were trying to say? Because today, people want you and also, we want you of course to tell us more today? But I don’t think it was so easy at the beginning, right?
Karnika E. Yashwant: 26:29
Yes, I think back in those days, you didn’t even have a proper internet or the broadband you had dial up and even social media, you pretty much cannot communicate with the rest of the world, you cannot get the message out you didn’t have avenues to learn or places like forums where you can speak. So, it was quite different back in those days. And I think the best thing that worked for me was to stay fact, say the truth. And keep looking at what it is that I believe I just said that. And if you do that consistently, if people get to see that you say what you believe in and you stand by that and you follow even if that is not a social norm. Even if that’s not something that everybody facts or looks for, that starts with where you can run around expectation or clutter around and it started helping me over the years.
So of course, in the initial days, you’re not going to have an audience, you’re not going to be heard by a lot of people but when people start noticing what you’re saying is true, sometimes years after they look at something that you said cited and use after it’s true. And that’s when you start building your pace. Of course, these days, it’s much easier. You have Twitter, Instagram, TikTok, you can say something and the next few minutes, you’d have a lot of people looking at it and validating it. But back in those days, it was much harder. And even accessibility to information or being able to disseminate the information to a lot of people was quite tough. But quality always was winning, even back in those days. So, I just skip to that part of doing what I like and saying what I believed and doing it over and over.
Anita Mlakar: 28:16
I think today it’s a great responsibility, you know, when you say something, because you can have your own media and people are watching you and has influence on other people. So yes, it is important to what we’re talking about, but you are also like you said, advisor, strategic advisors. So maybe this question goes to 3air is, of course connected to 3air what inspired you to become a strategic adviser for 3air? You said something a little about 3air but really, what was it?
Karnika E. Yashwant: 28:46
Okay, so when I look at the whole space of blockchain and where the value comes from, and the value for blockchain is not separate, it’s not something that is specific to blockchain, but it is based on what the world needs. So, you go one step down, you try to see what is the biggest requirement or the objective in the world, of course, you have things like food, water, and things, the basic fundamental foundation, but you’re not right now living in information age, in information age, the access to information is through internet, that’s pretty much the only prominent thriving, successful model. Even go back asking all billionaires in the world what made them get there, all the new entrepreneurs in the world, or even those who are most knowledgeable and those who learned quite a lot of things in the reason decade or two. One thing that was common in all those instances is access to internet, those who were able to access it early on, even I was lucky to be able to access it when I was in my seventh grade. But I always knew that if I had access to it when I was in my first grade, second grade or when I was born, then I would have started things even way more earlier than probably starting business at 14 and access to that is so important not only to learn, but to experience, to understand, to explore, to widen the horizon.
Because right now the amount of information that we know do is limited to people around us what we see and what we hear. So, imagine someone living in a village or in a remote area, they can be the smartest one in the town, but the town has 100 other people. And the only thing that they know is farming, the talent is wasted there, maybe this person has so many things that he can do, but he doesn’t even know there’s a world outside other than the activity of that particular town or village. So, the opportunity is kind of lost, you talk about countries talking about brain drain, well, there’s so much potential here potential being drained, because they cannot access internet. And that is a major problem. And it’s a problem that billions of people face. And if something can solve that it is a fundamental need, I would consider that as an essential need in the industry of education, work, finance, and livelihood in every form. If I have to state stacked after food, water and the survival needs, I would put internet right after the survival items. And when I saw what 3air was doing, it kind of showed me the immediate potential of how it can expand and bring opportunity to so many more people and the potential with the power of blockchain. Because these people coming online, what do they do, they’re going to look for, what is that that they can immediately start working on. So that kind of makes the opportunity on 3air, almost like a gateway. It’s almost opening doors to all these people, showing them a new world and showing them and showing them a pathway towards a better life, in one form, we can say enlightenment, because education, learning new things, exploring was what caused all this impact in my life. It was what made me feel enlightened in terms of an information side. And I would be happy if everyone else had that opportunity as well. So, this is what I call as true value on chain, we are all talking about total value locked. But then the true value from Web 2 moving to the Web 3 is the most important part of bringing blockchain adoption and that attracted me to 3air.
Anita Mlakar: 32:34
Well, I see Sandi and Ruba, just knocking their head listening, because we are all agreeing on that. And I have to include Sandi in this because like you said Sandi, access to information should be basic human right.
Sandi Bitenc: 32:53
I need to say, let me tell you a bit of a story, how me and KEY get connected. So, it was an introduction that was done. But to be honest, and I didn’t say that to KEY, but it was like, yeah, just another one that’s like coming and just you know, talking and we’ll never deliver. So, I was like, yeah, just let’s forget about it but then I said, okay, it was an introduction. I need to at least hear him out. And then he was the first chatting- Even after the first call.
Anita Mlakar: 33:56
We will remain with the first call. Okay, okay. Key you were talking. Let’s move on. And then Sandi will of course come back. So, you have been in this, and you were talking about Web 3, and you are in this Web 3 space for a really long time you have multiple projects in it. What do you think that it’s actually needed for of wider adoption.
Karnika E. Yashwant: 35:12
It’s the simplicity if things can be simple, understandable that work. And right now, everything in the blockchain space is technically heavy. It requires someone to go through a separate education, how to do something, download setup and learning process and not getting scammed to finally the go through all the to operate and use blockchain. If all of that can be bridged, simplicity is brought and people do not have to learn something new, but it is inclusive just like how the internet adoption, e-commerce and everything and push it to a common man’s hand. It’s the simplicity. And the blockchain world is pretty much driven by developers. And developers are ingrained look at all the nuances as well. So, it requires a visionary entrepreneur who can dumb it down for everyone else to make it simple and user experience driven perspective and then that happens, the adoption will improve.
Even beyond that, it is about the local community and members around the world starting to look at blockchain in a better light. Because right now, when we think of blockchain, we think of two things. One is all this stuff inside blockchain. And the second is all about the people who get rich and that we cannot one of them that apart people. So, it’s about the feeling of jealousy or feeling of fear. And we need to change that, we need to change that by showing them that there’s so much more. Blockchain is not a get rich quick scheme. Nor is it just a thing that people are playing with, but it is a utilitarian approach. It’s something that people use for a very specific needs or problems that cannot be solved with the existing technology. And when applications, when utilities start showing up, they are using only because of blockchain existence, it can start changing their lives. So, we see that application possibilities everywhere. We just need more and more stubborn entrepreneurs who will push that boundary because it’s not easy. It’s hard. And the chances of failure are more than the chance of success. And it requires persistence to keep making that happen by iterating, by building, by trying to educate people around and making it simpler in the process over time but amazing entrepreneurs doing that pushing the businesses in Web 3.
Sandi Bitenc: 38:20
I’m back now. I don’t know. Can you hear me?
Anita Mlakar: 38:23
We are obviously having some issues with internet connection today. All of us in a way.
Sandi Bitenc: 38:30
I have the issues here.
Anita Mlakar: 38:32
Sandi Bitenc: 38:33
So, but there was a problem with the connection here. It’s a public Wi-Fi, I switched now to mobile data. So hopefully it will be a bit better, but you can hear me, right?
Anita Mlakar: 38:47
Yes, we can hear you now. KEY was just explaining, and he was a little interrupted, so I didn’t get everything, but I did get most of it. And I think that we do have some connection. You do hear me right. Do you hear me okay? We are one interesting group today really.
Sandi Bitenc: 39:23
Maybe I can finish the story, right?
Anita Mlakar: 39:36
Do finish the story, please.
Sandi Bitenc: 39:41
This is really getting mixed up today.
Anita Mlakar: 39:42
It was the first call.
Sandi Bitenc: 39:45
It was the first call. And then it was like, okay, there is something behind it kind of, but I was still, yeah, it’s all still it’s all talk right. So, we have a lot of unpleasant experience with previous advisors and some agencies and everything they were all really keen on talking a lot, but nothing really happened. But once I got into really talking to KEY, what surprised me that he actually immediately got what is 3air about. So, what’s the big picture and he sees it kind of, you know, in a same way as I do, and you know even what he said today a few things are actually in what I wrote in our white paper. I still think that we probably, you know, missed a few Einstein in places where there is no internet connection, just because they didn’t have the education, they didn’t have the access to the knowledge that they need to evolve and, you know, to really contribute to probably the prosperity of the whole world. So, it’s so crucial to really have good internet connection but to get back to KEY then, I was really, really kind of trying to push him away not to come in. And I’m really happy that he persisted because he is right now, he’s become an invaluable adviser to 3air. So, for sure, a lot of things that are happening right now wouldn’t be happening if he wouldn’t be on board. So, he is more or less almost like a full-fledged team member right now, to be honest. And not only him, it’s his whole team that he has, that stands behind him is now helping us with a lot of stuff. And it is crucial for us. I can say that for sure.
Karnika E. Yashwant: 41:50
Sandi, it was really good to hear back from you.
Sandi Bitenc: 41:55
Yeah, sure. It’s nice to talk to somebody who is smarter than you, that’s cool. I really enjoyed that. So, it’s cool.
Anita Mlakar: 42:05
Learning from people who know more than us, this should be something that everybody should follow.
Karnika E. Yashwant: 42:14
To bring in more smart people to the world, right? I think it’s, it’s almost like we are bringing more amazing people who can stand on this foundation and change the world, we might not be the ones directly changing the world. But we were a part of the cause that enable that to happen.
Sandi Bitenc: 42:35
Yeah, I’m pretty sure that each one that is right now on board with 3air and helping out, can take part of that, win in the end.
Anita Mlakar: 42:46
Yes, absolutely. KEY just another question. And you also said that the way to achieve long term success in this Web3 is about using NFTs for non-speculative utility, so connected to real businesses and products. Should we hear more about your opinion on NFTs?
Karnika E. Yashwant: 43:12
Sure thing, this is something that I’m super passionate about because when the whole idea of NFT came up, it was not last year, it came up a couple of years before, but when it did, the first thing that came to my mind was digital certifications, to make sure that people don’t have fraudulent certifications floating around, identities as NFTs like you know, passports and government documentations. And things that are useful in life, things that need to be protected, that has to have an identity on its own, or a form to identify like in supply chain, and so on. But unfortunately, we ended up with monkeys, and different types of monkeys of all colors, shapes and sizes. So that was fine. It’s an artistic expression. It’s a great start.
But then the real value in massive number is actually on the utilitarian side. So, I see that over, let’s say three years to four years 99% of all NFTs out there will be non-speculative in nature. Of course, in terms of the speculative value, it’s going to be more with all the artists and creators economy, but then the primary utility is going to be in a form which we don’t even identify right now. The good example is Uniswap V3 uses NFTs for different bands of pricing. So, you don’t see that, you don’t know how many such NFTs are there. Nobody hears about it because it doesn’t have an image to it, it’s used within the framework in different form. It can be used for milestones it can be used to identify a small parts of a supply chain, they could have 10,000 NFTs in the supply chain, you wouldn’t know about it, there’s no name to it. And there’s a separate structure to it. So that’s how I see it, it is and it’s like a tool, like a screw or a brick in a building. And it does not have to work with the images and trading and so on. So, I don’t think that day is far I can already see a lot of enterprises building on it. And I also know, 3air using it for a pretty interesting purposes. So, I can see it happening starting to happen at least.
Anita Mlakar: 45:37
Okay, so it’s also the right way, you see Sandi, the way 3air is using NFTs and this is what exactly what he’s talking about. So yeah, absolutely.
Sandi Bitenc: 45:50
Yeah, I fully agree. And I was also reading about NFTs in the beginning. And it was like, I would never say this is going to be so crazy with all the arts and so on. Another art collector, so probably, I didn’t really identify with that, but I saw so many, so much potential in NFTs and now right up until now, they didn’t, they really didn’t come to shine there. There are some projects that are doing some cool stuff with NFTs. But I’m pretty sure, I fully agree with what he says that the majority of the issue, the NFTs will not be of the speculative nature, but we’ll have some utility, they’ll probably be somewhere in the background, you won’t even know that NFTs are being used. And I think the whole blockchain space will go into that area, it’s going to be probably the same path that we took with the Internet. So now, you usually don’t even think about it, internet is being used somewhere in the background, you are connected and that’s it. And I think that something similar will probably happen. And it’s to happen for the wider adoption, or the really global adoption.
Anita Mlakar: 47:10
Yes, so KEY before we say goodbye, and thank you for being with us. Please do tell us where can we find you? Are there any upcoming events? Where are you on social media? Where can we follow you? learn from you?
Karnika E. Yashwant: 47:26
You definitely can check me out on socials and if you’re keen on some interesting photographs, my Instagram as well, I’m in all channels. And I’ll be in various events in Dubai in October now, I’ll be speaking in quite a bit of events. So, if someone happens to be in Dubai, definitely do reach out and my social channels or come to the event, and you will find me on the stage.
Anita Mlakar: 47:50
That’s great. Thank you very much. Thank you very much for enlightening us today and giving us some answers and we’re really happy that you are with us in this, let’s say minutes that went by so fast.
Karnika E. Yashwant: 48:06
Very excited and happy for being here as well. Definitely. We had some interesting questions. So, looking forward for more people brought on to be internet through 3air.
Anita Mlakar: 48:21
Thank you. I looking forward to seeing you next time on our AMA.
Karnika E. Yashwant: 48:25
Sandi Bitenc: 48:27
Yeah. Thanks KEY.
Karnika E. Yashwant: 48:29
Thank you. Thank you all.
Anita Mlakar: 48:30
Thank you. Bye.
Sandi Bitenc: 48:31
Anita Mlakar: 48:35
Okay, so here we are the three of us having another 10 minutes to talk about what is going on giving the update on marketing, Ruba, here you go.
Ruba Aramouny: 48:50
Yeah, so we already touched the blog posts about connectivity. Interesting blog posts that you should go.
Sandi Bitenc: 49:07
It’s not working. I hear every second word from you.
Anita Mlakar: 49:24
Yes. We shouldn’t be smiling about it, but this is today. Like we have something, there is something is bigger than us, doing all this?
Sandi Bitenc: 49:33
I think it started last week, before we were always really good, but now is the last week was pretty bad. And this week, okay. I know what’s wrong on my site. So, I’m actually outside. Now there was a question before, so I literally found a quiet place as possible in CV Summit. So, there is a whole summit conference going here and I was lucky enough that this room was kind of half empty. And I can actually talk because what I couldn’t do before is I couldn’t get my Bluetooth ear set connected. So that it would work, you know, if the microphone was working than the headphones that I could not hear you, it’s crazy.
Anita Mlakar: 50:25
Let’s see how Ruba is doing now. Ruba, say something. We can hear you, but you know every second word. So yeah, we’re just imagining what you’re saying in between.
Ruba Aramouny: 50:43
Okay, that’s annoying.
Sandi Bitenc: 50:45
You have some headset or something like that?
Ruba Aramouny: 50:51
Sandi Bitenc: 50:56
But maybe in the meantime, I can just you know, give a quick update of the market. I was again, so really, really busy flying all around and everything. But yesterday, the CPI numbers came out and they were just a bit higher than expected. They came in at 8.3 I guess percent if I can remember correctly, the market had 8.1 expectations. So immediately we saw huge crash and it’s really a pity, and we were primed to have a nice bounce, but it seems like the inflation is still not really coming down at least not as fast as it’s expected. But it needs to be said that inflation, how they’re measuring it, it’s actually a lagging indicator. So, it’s something that was happening in the past 12 months. And not only that, so we’ve seen a lot of stuff go down, I think the only ones that are really up was food and energy, I think those two were kind of up. But still, it is what it is, it’s a number and the FED usually just kind of work on that numbers. And probably what it’s expected right now is a bit higher rate hike coming in on the 21st.
I do think that right now, what we’ve seen is something that’s being adjusted for a 75 to 200 basis point, rate hike something in between there. So, I think with 75 basis points, we’ll kind of hover around this area, if we get 100 basis points, there might come another dip. So, let’s see, what the markets actually now pricing during the next few days, there’s also Ethereum being expected any day now. So, this is also going to be something to watch out for. And nobody really knows what’s going to happen afterwards. So, a lot of uncertainty still in the markets.
We will be we will be launching in a really, really tough market, that’s for sure. So, what we need is kind of get a good baseline and just then really work onwards and try and support the token with all our products. So, what we have and it’s really good is that we have real users and once we start connecting them then the organic traffic, not only the speculative traffic will come to the system, to 3air and that should support the token price. It’s not the ideal time to launch I cannot say you know anything else, but I do see that the future is still bright. So, the markets will turn at one point and then we’re actually riding the whole wave of the next bull cycle.
Anita Mlakar: 54:30
Okay, I will repeat your words, the future is looking bright. Let’s repeat positive things.
Sandi Bitenc: 54:41
What it reminded me actually is, we are part of a documentary, and the commentary is the future is now there. I got this correct, right, Ruba? The future is now so it’s a really full documentary a really high level a trailer is out. That’s nine minutes long. We are already featured in it. I say some stupid stuff in it. So go and watch it. There were some people were saying, do you really want to post that? You know, can this really be such a movie because it’s actually a film. It’s a documentary. I was like, yeah.
Anita Mlakar: 55:28
Now I’m gonna check it out.
Sandi Bitenc: 55:34
Let’s say there are like Beep Beep in so.
Anita Mlakar: 55:37
Oh my god, really?
Anita Mlakar: 55:39
Oh, Sandi-Sandi. Ruba, we do hear you.
Ruba Aramouny: 55:44
You hear me well, like you hear a full sentence?
Anita Mlakar: 55:48
Yeah, this one was good.
Ruba Aramouny: 55:51
All right, good, then. So, do you want the marketing update?
Anita Mlakar: 55:56
Ruba Aramouny: 55:57
Just scream if it doesn’t work.
Anita Mlakar: 56:01
Ruba Aramouny: 56:03
So, like I was saying earlier, we have the blog, two interesting blog posts that I think will help you understand 3air and the project well. One is about connectivity NFT. So that’s what KEY and Sandi were talking about earlier, having NFTs that we’re moving from artistic NFTs to also NFTs that are having real world utility and value. So go and check out our blog posts about connectivity NFTs, it will help you understand how 3air uses it and how the Plug into the Device NFTs.
Then there’s another very interesting blog post that I think you should check out, which is about multi-chain and cross-chain compatibility, also written by Sandi, and that will help you understand how 3air use multi chain and cross chain. It also help you understand a lot of the choices about blockchains, about launching on different chains and the partnerships that we’re forming. Because that leads me to the next update. We integrated with OKX chain. And that will enable you to mint and distribute NFTs on the marketplace without cross-chain conversions, using tokens that are native to the OKX chain. So that’s really interesting and that’s our first step actually into real cross-chain compatibility of our app.
Then and their big update is what Sandi just mentioned, the Future is Now Documentary. So, we’re really proud to be in that. There are some really big minds in that documentary, and we included Sandi, our big mind. So, it’s really an honor to be included in that. And it’s also very interesting about the future of blockchain and how Web3 is going to decentralize and change the way things are run. And what everybody should probably does know right now in our community is that our IDO is currently ongoing on Synapse Network. So, if you want to increase your 3air tokens or if you didn’t get in yet, you should go to Synapse Network right now and check out our IDO there, so it’s open right now and you will have a chance to go into the first come first serve sale. So, if you miss that, and it closes and that was your chance. So, I really recommend you to go there if you’re interested in the IDO.
Then we also partnered with UniLend Finance, that is a multi-chain permissionless lending and borrowing protocol for all ERC20 tokens. So again, you have that multi-chain, cross-chain notion in that and they also have we just announced actually, while we were on the AMA, our 3air and Knit Finance partnership, so go to our social media, go to the blog posts, and you can read about what Knit Finance do and why we partnered with them.
Then we have upcoming AMAs, we have an AMA tomorrow with DCT Capital at 12:30pm UTC. Then on Friday at the Crypto Hustle at 8:30am UTC. And on Saturday, we have the Crypto lab one at 8:30am UTC. So, all the links are in our telegram and on our Twitter if you want to be in any of those AMAs go and join. They’re always really interesting. And Sandi is on those AMAs and then right now, Sandi is at CV summit so if anybody is there, you can then go to the virtual booth of 3air and try to organize a meeting. And Sandi will be a panelist for tomorrow at CV Summit. So yeah, if you want to check that out. Go ahead. We’re there live right now.
Anita Mlakar: 1:00:19
Thank you, Ruba. And I did not scream. Yay. And Sandi is everywhere. In the documentary, on AMS, is lecturing. Oh, my God, Sandi, you’re like, multiple person. Okay, so do we have something else to add before we do the closing of this very interesting AMA?
Sandi Bitenc: 1:00:48
Well, from my side, not really, a lot. I know I have a call in five minutes, I knew that I wouldn’t be making it at 6 CET. So, I put it on 6:10. So I have like five minutes to connect to the next call.
Anita Mlakar: 1:01:04
Smart! learning as we go. That we want as much as we can get from you and the AMA and of course from Ruba and Rok, and our guest KEY today. It was really, really a nice AMA. Thank you very much for giving us the answers and the updates. And next week, AMA will be one day before the launch. I’m just saying.
Ruba Aramouny: 1:01:31
Sandi Bitenc: 1:01:32
We are getting close.
Anita Mlakar: 1:01:34
No pressure. Really. So, thanks for being with us all of you. Of course. Stay tuned. Be a part of our channels. Twitter, Discord, Telegram, YouTube, subscribe, click like if you liked it, of course. Say to your friends. Share that with your friend that we are here, and we will be really happy to have you here again next week. Wednesday at 5pm Central European Time, going live. Thank you, Ruba and Sandi, and thanks everybody. Bye.
Sandi Bitenc: 1:02:06
Ruba Aramouny: 1:02:06
Thank you! Bye.