On Sunday, we held our first AMA (Ask Me Anything) of 2021 with Matrix AI CEO Mr Owen Tao. Please read and feel free to note down any questions you would like answered in forthcoming AMAs. We have many planned throughout the year.
Matrix AI Telegram AMA (Ask Me Anything) with CEO Mr Owen
Tao – Sunday 4th April 2021
Q1 – Can you please give us more details about the cooperation with KBCI, Korean Blockchain Institute?
The first project is to build the ‘China Korea Industrial Park’. Together, we will offer AI and blockchain tech support to the project in the smart city, intelligent industry sectors and so on. There are plans to work together with KBCI in other AI blockchain related projects. Matrix AI is an international project.
We need to explore our market and Korea is a very good market for us. In the future, our technology will serve people all over the world.
Q2 – How far are we now with the cooperation with TBEA – the smart coal mining project?
The smart coal mining project is a 3 year cooperation with TBEA. We have finished the engineering and network architecture design. The next stage will be to begin the engineering construction and core algorithm training framework.
Q3 – Is Matrix AI still involved with OBOR (One Belt One Road) project?
Yes, we have some ongoing projects in the Xinjiang province in relation to the OBOR project.
Q4 – When does Matrix AI intend to release it’s first NFT projects and what kind of NFTs can we expect to see?
It should be by the 2nd half of this year, the first one should be AI art (AIRT) – arts created by artificial intelligence.
Q5 – Can you make a step by step Medium guide on how to perform a token swap from ERC20 token to the native MAN coin? Will the swap be instant or is there still a manual process which needs to be completed by Matrix AI?
Yes, we will offer a detailed swapping guide. It is still a manual process right now.
Q6 – What is the reason for the delay with the manual ERC20 token swapping process? Who do token holders need to contact?
If you haven’t completed your token swap, please send an email to tokenswap@matrix.io and our staff will deal with it. Please don’t worry, each transaction for the swap will be done correctly.
Q7 – There are almost no updates on Github! Can we expect to see daily/weekly updates on Github anytime soon?
We will resume daily updates very soon, mostly on AI services and the NFT parts.
Q8 – Do we have any update about the Huobi ERC20 to MAN token swap? Why is Matrix AI not submitting a deadline with Huobi for swap completion?
No deadline is in place yet. There are some additional requirements from Huobi which we are working to complete as soon as possible so that the token swap can take place.
Q9 – A while ago, you advised the community that a bug was identified which was believed to be the root cause of the ongoing APOC miner outage. We were hoping that a fix for this was going to fully resolve the issue.
Is there any time frame as to when the APOCs will finally get fixed? Additionally, will the APOC owners who have been offline as a result of this bug be compensated for their loss of potential earnings?
The bug which was identified has been fixed which has brought more APOC miners back online however, we are continuing to experience issues with the network in the Xinjiang miner factory.
They have told us that they will increase network bandwidth imminently and if issues persist, the miner company will move them to a new factory. I will ask the miner company to offer a plan for compensation to affected APOC owners ASAP.
Q10 – In the last AMA, we have seen that many AI services will transact using MAN native coin. Is there a burning mechanism so that the total supply will always decrease?
We can’t burn all of the MAN coins because they will be sent to the miners who have offered computing power and also to the AI scientists who created the AI services.
If the services are created and provided by Matrix AI team, that part of the MAN allocation will be burned.
Q11 – Do Matrix AI have any plans about a DeFi project?
Yes, we are working on a cross-chain function which will enable is to connect to BSC (BinanceSmart Chain) with a great cooperative DeFi together. The cross-chain function will also serve our NFT platform in the future.
Q12 – Most successful projects doing token burn, do you have also plans to burn some MAN coins?
Yes, we have plans such as on the NFT platform. If you create an NFT on Matrix AI, you will need to burn some MAN.
Q13 – You are experienced in gaming. Will MAN incorporate NFT in the gaming industry?
Does MAN intend on releasing more game apps?
At the very beginning, the NFT of Matrix AI will focus on AI specifically, but we’d like to introduce some game elements and rules in to Matrix’s NFT platform to make it more interesting and easier to spread.
In the future, we have plans to provide services for students’ robot programming competition, that’s more like gaming I think.
Q14 – As we know, recently a new marketing team started working with Matrix AI. How many people are working in this new marketing team and are they primarily focusing on the Chinese market?
Is it possible that you can share a video of the new marketing team? The Chinese market is amongst the biggest in the world. How do you plan to do marketing in China? What’s your targets?
There are 6 people in the marketing team, each responsible for a different work area. The main work for them is to build a Chinese community for Matrix AI.
They target to attract 20,000–50,000 members in the first year. I will ask them to come to Telegram to share more information about their team later.
Q15 – Binance Smart Chain (BSC) is trending right now. Is your project interested or is there a plan to enter the world of BSC?
Yes, whether for MAN’s liquidity or our NFT project, BSC is an important circulation platform. It is an important chain for our cross-chain bridge.
Q16 – Is MATRAIN compatible with any future development? How was the automated machine learning platform developed on Artificial Intelligence and what is the advantage of performing machine learning on a Matrix AI node to obtain artificial intelligence models?
At first, the goal of MAN network is building a decentralized computing platform. We want to attract more and more free computing power to join us.
That means a lot to deep learning. At first, the free computing power offered by users means we have cheaper computing powers and training on a decentralized platform will make the AI scientist models their own asset.
Q17 – What are the differences and advantages of Matrix 1.0 and Matrix 2.0 solutions? How exactly MATRAIN works and how automatic machine learning? What are the advantages it provides to the Matrix AI main net?
In Matrix 1.0, our target was to build a high performance blockchain and a decentralized computing platform.
In Matrix 2.0, our aim is to build a complete artificial intelligence ecology including the decentralized computing platform, the data asset platform, an AI models market and AI service platform.
We wish to promote the development and daily application of artificial intelligence by offering cheaper computing powers and higher quality data.
Q18 – Staking is one of the strategies to attract users and hold them long term. Does your project have a plan regarding staking?
Yes, staking is an important part of Matrix AI, whether you want to be a miner or a validator.
Regardless of which you choose, you must stake MAN to participate. We will offer more staking options on the NFT platform and thus the potential to gain additional revenue.
Q19 – Does the Chinese state give it’s support to NEO coin and MAN coin? Neo has come along way in 7 years. How long do you think it will take for MAN coin to achieve the same success?
I don’t think Matrix is in the same track as NEO. We are focusing on AI enabled blockchain and a decentralized AI platform, but if you mean how long until we can be as well known as NEO, we hope we can achieve that in 1 or 2 years.
Q20 – What role does MASO take on the full Matrix AI main network and how does it’s AIfocused work in the verification of data algorithm models make it different from other verification services?
MASO is a distributed AI service platform built on Matrix AI mainnet. It’s functions include automatic AI model training, AI algorithm model authentication, algorithm model transaction and paid access to algorithm models through API.
The role of MASO is very important, because the users can make real use of our service on Matrix AI through it. In the future, I think the AI tech will be more and more important. So there will be a huge market and millions of users for MASO.
Q21 – Are there any plans to get listed on a Korean exchange, such as Upbit?
Yes, we are working on it. Our cooperation with KBCI (Korean Blockchain Institute) is the start.
We hope we can explore the Korean market further and get listed on the best exchange in Korea soon.
Q22 – Do you have any plans for building NFTs into your eco system because that is the hottest topic in the crypto space?
If you have read our greenpaper, you will note that we have made ‘converting users’ data, computing power, and algorithms into personal digital assets’ as a target long ago.
Till now, the NFT is a very good and popular method to do ‘digital asset authorization’, that’s why we choose it.
It’s relatively mature and will take us less resources to teach the users.
Q23 – One of the biggest issues for DApps is onboarding. What solutions do you have, or have the team found for trying to resolve this problem?
We have a different plan with other chains. We wish to attract more free computing powers via the decentralized computing platform and more people to update their data on Matrix AI via the IPFS (InterPlanetary File System) and data capitalization system.
When we have enough data and computing powers, we will attract more AI scientists to train AI models on Matrix AI, then there will be lots of developers coming to us to build DApps on Matrix AI based on those great AI models.
Q24 – What is the role of the token in the ecosystem? Where can users currently buy it, and what would is it’s use?
On Matrix AI Network, MAN is used for rewarding, pricing and digital asset authentication. You can stake it to apply to be a miner or a validator, or use it in our AI service or NFT platform.
