SpaceChain AMA Telegram — Aug 1, 2018

On August 1, the community came together to ask SpaceChain co-founder Zheng Zuo and Chief Marketing Officer Eric Desatnik questions. We have compiled the AMA here from our SpaceChain English Community Telegram Group (https://t.me/SpaceChainOfficial_EN). Thank you for your participation.

1. Are the satellite hardware and software development completed for the next launch? I know the satellite launch depends on many things like weather, but could you share the schedule of the next satellite launch?

We have completed the development for the hardware, and we are in the process of finishing the development of the software. We are unable to release the launch date before the rocket launch site officially releases the news. We will let the community know once we’re cleared to announce the date. As you can see from our progress report, being transparent about the technical development has always been our number one priority.

2. Most of the investors want SPC to make an important partnership with top companies in the space industry. Do you think it is possible?

There are plenty of opportunities for us to partner with a variety of space companies and launch providers in order for us to achieve our ambitious goals. There are several things we consider when we explore partnerships including technical considerations and overall alignment of vision. We’ll continue to share partnership announcements with this community when there is news to share.

3. There are lot of smart people, companies and countries that are interested in SpaceChain. If the project is valuable and has good prospect, companies such as Google can try to develop it by investing their whole asset. How can your team defeat them? What is the best strength of your team in terms of engineering?

We are an open-source project, and the plan is never about exclusion but rather, about inclusion. We are the first organization to build a blockchain and space ecosystem. If there are other projects/companies that start following this model, we are happy to partner with them.

In terms of engineering, we have already launched a blockchain node into space. Additionally, our SpaceChain OS, which is 1.3M lines of code, is open source and available on GitHub.

4. Did you get the patent for SpaceChain’s special skills? Occupying in advance the patent is the most important in the field of business.

The point of open-source satellites is not about the patents. In fact, the main point of open-source satellites is actually to lower the barrier of entry to the commercial space industry.

5. Futurists in the field of cryptocurrency expect that most tokens will disappear as many coins and projects have already disappeared due to impracticality. And even when some projects have practical use cases, their projects still dissolve. As an investor, we are afraid this will happen to SpaceChain.

The next few years won’t be an issue. We have been putting our funding and resources in technical development, team development and marketing. The team is improving every day. In short, I’m confident of our project and I believe we have made great progress as a space startup.

6. SpaceChain is going to be the best one of space blockchain platform. However, I’ve been curious about circulation of the SPC token. They were sold out at the premature step of development so there is no ecosystem of token. In other words, SPC tokens have no value yet. On the other hand, the circulation (510 million) is too much. I know that total supply was 100 million at the first plan whereas I don’t know why it is increased. Could you consider reducing the circulation and total supply? It can be increased in the future at the final development step.

Regarding the circulation of supply, the point of the 51% being out there with the community is about decentralization. If the foundation holds 90% of the token, then what’s the difference between us and a traditional equity company? I know there are projects that release 2% circulation supply, but personally I do not think it makes sense. The total supply is written in smart contracts so we cannot reduce the total supply. A small circulation supply may make the current price higher, but if they release an additional 20% of the supply later, it is going to get dumped on the market and that will hurt the community.

7. Eric, you began working for SpaceChain not long ago. I was hoping you could talk about your marketing plans.

Yes, I’ve been with SpaceChain for only about 2–3 months at this point, but have been doing PR and marketing for a quite a long time. One of our biggest priorities is to more deeply engage this community. We’re also in the process of revamping our website and branding, developing a new “explainer” video, and generally getting SpaceChain out there as much as possible. We’ll look to attend more conferences and events, host meetups, and interact with you guys more often. We’ll also put you to work. We’ll be running more things by our community for feedback and input. SpaceChain is yours as much as it is ours.

8. Maybe in the future, we could have some kind of community session again and brainstorm some different use cases. Many of us are already involved in open-source projects so it would be nice to have exchange of ideas and collaboration as things develop.

I love this idea. We would love to collaborate with the community more, and we’ll circle back with concrete ways we might be able to do that (beyond just making appearances in Telegram). At the same time, we are working on increasing engagement with our advisors and partners. We’ll need this three-prong approach (community + advisors + partners) to be successful.

9. It’s nice you look at it as three-prong approach. I see the community as both developers and investors, so slightly different audiences but together they make your public community.

Agreed. Good point. I would add that there are also community members who are neither developers nor investors, but are passionate fans who want to see increased access to space!

10. I hope you will write down a lot of marketing except technical parts in the weekly report.

Will do. As you may have seen, our CMO Eric did an AMA with the community and more marketing efforts are ongoing. Our press release about Don Tapscott has been well received. Our announcement was featured on Yahoo finance (https://finance.yahoo.com/news/spacechain-adds-blockchain-expert-don-101500499.html?guccounter=1), Business insider (https://markets.businessinsider.com/news/stocks/spacechain-adds-blockchain-expert-don-tapscott-to-advisory-board-1027420493) and 295 other media outlets.

11. What do you think about the transition from QRC to ERC?

We are on it, it will happen sometime around the end of this month.

12. Everyone knows the team is focusing a lot on technological development and innovation. However, the team has been brutally indifferent to the market situation. Do you have more friendly policies and marketing plans in the future, considering the nature of the crypto money market?

We are not indifferent to the market situation, and we are doing everything we can to raise awareness of SPC. We have just brought on an economist to join our board of advisors and we are heavily focused on engaging in more marketing activities as our CMO Eric mentioned in the AMA.

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