SpaceChain AMA Telegram — Sept 17, 2018

On Sept17, the community came together to ask SpaceChain co-founder Zheng Zuo 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) The total sum of QRC-20 and ERC-20 tokens is 1 billion. I think the circulation should be controlled by the foundation. To show trust to investors, could you share the foundation’s wallet address so that the investors can see the current QRC-20 to ERC-20 ratios of the SPC token. In other words, we’d like to know the total SPC circulation and ratio of QRC and ERC at any given time.

Sure, you can check http://explorer.spacechain.com/address/Qb8hxJAVWLDbbTewMc839P3q1WnV348qYW

This is the amount of QRC-20 we have collected. We are also issuing about the same number of ERC-20 SPC tokens. ERC-20 SPC tokens are slightly more than the QRC-20 SPC tokens we collected because we allocated some extra reserves with exchanges and wallet partners.

2) I am a big fan of your team. Are there any plans to hold a meetup in Korea? I really want to meet Zee and Jeff and Eric.

We love our Korean community. Hopefully we will have a meetup soon. As you can see from my schedule, we have been doing a lot of tech development and business development around the world.

 3) I know your team has been integrating the other public chains like Qtum and Ethereum. Is it possible to upgrade SpaceChain OS on the satellites already launched in orbit? If not, your team should always launch new satellites for adopting newly released code packages.

It is possible, but not an efficient method. And yes, that is why we need to make very clear plans about which ones to integrate and when to commence launches.

4) I hope more advisors or companies support SpaceChain. Are there any advisors or companies joining us soon? I understand that it is hard to get the name out there.

We have one of the most brilliant advisory boards and partnerships in the blockchain industry. We are also engaging with some of the top institutes as well. And we are definitely doing a lot of business development. If you guys have any suggestions on advisors and partnerships, you can email info@spacechain.com. Our team checks it daily.

 5) How about establishing a partnership with Metronome? These two coins have the same kind of goals such as a cross blockchain. I think these two synergize well. I suggest airdropping MET coins to SPC holders.

Airdrop… I don’t know about that…. but I agree that SpaceChain has great synergy with Metronome!

 6) Did you know that PlayCoin (PLY) was a Qtum Dapp like SpaceChain? PLY has been coming out with very surprising news including a listing on Bithumb, new advertisements, usage cases, and community efforts such as attending the Binance event with investors even though the current market is bearish. I know Zee is close to Dennis who is the CEO of PLY. How do you feel about PLY coin’s outcome? Could you meet him and connect with his personal network?

Dennis is a great personal friend of mine. I think he is one of the key technical leaders in Korea. I like what they are doing. I congratulated their recent progress a couple of days ago

 7) I was wondering when I can see the roadmap of SpaceChain.

We’ve established a roadmap a long time ago but our designers were focusing on completing the new website (spacechain.com), which I like a lot. Now that the site is complete, we will work on it and make it look nice with graphics.

 8) I already know there are many articles in the English community. But many big holders of SpaceChain are in Asia, not in the U.S. Could you share the general distribution of SpaceChain holders by country? I think you should encourage more of the American and European markets.

Hmm good suggestion… I will ask our marketing team to do a thorough analysis. I think we are in the English media a lot, and many of them are from top magazines in the industry and therefore have pretty widespread global coverage.

 9) Can you explain one very simple use case of SPC tokens? Ideally who do you foresee being your type of customers?

Presently, SPC tokens can be used to exchange for developer IDEs and development boards. You will also be able to use SPC to book storage on future satellites. One major use case we are working on is secure blockchain transactions and crypto asset storage based on satellites. Satellites can hold one of the multi-signature keys of your asset. Also, we’ll be able to store crypto assets on a satellite, since we won’t be using the Internet (we’ll use our own satellite network).

 10) Zee, how much money do you make per month?

I actually do not get a salary from the SpaceChain Foundation. My business travel expenses are covered, but I have a low budget for travel.

 11) I think an aggressive marketing strategy is necessary. What do you think?

I disagree. We do not gain respect from the space/blockchain industry by being aggressive. We get respect from being solid and actually good at what we do.

 12) How can we utilize the satellite signals? Do we need special antenna? Do you plan on having coverage for the entire world without the use of the Internet? Or will we still need to utilize the Internet? Can we upload/download files?

You cannot receive a signal from our satellite, and even if you do, it does not make sense for you to get it since you will receive unprocessed data and cannot really do anything with it. We are definitely not planning to “replace” the Internet. We are working on utilizing space technology to better serve the blockchain industry and using blockchain technologies to serve the space industry. We are developing consumer-based storage services.

 13) What is consumer-based storage? So all the data upload/download activity will go through the SpaceChain Foundation?

No, I mean it will go directly to customers. We won’t be looking into your files, we’re going to host the service only.

14) So, we can download and upload files directly on the satellite?

We can. Current satellites are not designed for downloading and uploading files. We are capable of doing that, but it does not directly link to our stage of development. Basically, you can get the broadcast signal but you still need to go through our platform to do the upload/download.

15) Is the first satellite currently in orbit working as a Qtum node – similar to what my laptop computer does with PoS which connects to the Qtum main chain and downloads each block to PoS?

Yes, it is a full Qtum node on a Raspberry Pi chip. However, it does not connect with the mainchain and does not download each block because we had limited resources for uplink and downlink bandwidth. It just updates from time to time. It was mainly for proof of technology, so it has some flaws. We are working on improving this.

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