ICON AMA Update (May, 2019)

Hello ICONists,

Every month Ricky Dodds, ICON’s Head of Institutional Markets and Contributor Relations, participates in a community AMA session on the Official ICON Subreddit. Below is a transcript from the May 2019 session. The content is divided into 4 sections (Business, Development, Marketing and Other). If you have any questions, be sure to tune in to the next AMA session which usually occur in the 1st week of each month.

Business

Q: My question is based on the business partners mentioned in the latest roadmap:

“DID based service is launched with business partner”

“Vault feature is launched with business partner”

“Launch of secret voting service with business partners on public blockchain”

“Stable coin service is launched with business partner”

My questions for ama- are these business partners identified / agreements in place or speculative of future business partners? Thanks!

A:

Q: Do we have any updates on MOU’s ICONLOOP signed back in 2017/2018, Samsung, Deloitte etc?

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Q: How will ICON try to bring value to the ICX token in the future?

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Q: What will the p-rep rewards be and what does ICON think about the effect that will have on token value? Increased selling pressure should lead to cheaper ICX in my opinion, which doesn’t look too promising for new investors.

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Q: If the proof of concept is going well with the insurance companies, hospitals and banks that has been going on since last fall. Are there any plans or meetings set up with the majors players in those respective industries to expand beyond Korea to Canada, Europe, USA, or south or Central America. I mean it’s an easy concept to understand making things more efficient with smart contracts. Is there a group or team from Icon that is making appointments to pitch the idea to all those other countries to expand the global reach since they are fantastic use cases. Are there appointments currently being set up for initial meetings with either individual hospitals and insurance companies or major universities in these countries to get the smart contract platform set up and get the rest of the world in those respective industries in the icon ecosystem. Those are 3 great use cases that can be expanded to other counties with the right meetings set in place.

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Q: Will there be an update regarding the ‘Samsung Secruity’ partnership in the near future?

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Q: Does Icon expect that ICONLOOP’s private partners will opt to publish their data on ICON’s public chain?

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Q: What is the benefit to a private company using ICONLOOP technology to publish its data on ICON’s public chain?

A: I

Q: Will a company opting to publish its data on ICON’s public chain require ICX token to accomplish that?

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Q: Considering this article “South Korea financial regulator authorizes 9 fintech blockchain firms for trial operations”:

https://cointelegraph.com/news/south-korea-financial-regulator-authorizes-9-fintech-blockchain-firms-for-trial-operations

Is ICON, ICONLOOP or DAYLI one of the companies given room for trial operations?

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Q: How is that possible? You are “number 1 blockchain in South Korea, one of the largest blockchain networks in the world, backed by Korean government, focused on Korean market” and have not been authorized by SK financial regulator but 9! others have been ?? Why so? It’s not important for Iconloop and you didn’t try or you were refused? I just can’t understand how these things going out

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Q: I know where Icx token worth derives from, they need to interconnect private and public blockchains but I feel somehow we got worthless ICOs in the end and bunch of MOUs with no clear usecases. And even more, that Blue moon event was for me OK back in January 2018 BUT a lot of dApps quit on Icon or simply vanished. They need to get their shit together and get the job done. Hospitals, insurance firms, universities, etc etc public and private blockchains…LINE, Deloitte and so on. Whats the situation on that now? Also what about 300 new dApps on Icon in next 3 years? Whats with that event New kids on the blockchain?!?!

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Development

Q: We see some status on interopetability in the latest update, but can you let community know the approx time frame when this feature will be complete. Since ICON was primarily focussed on interoperability, we would like to be first to achieve this before the competitors like Cosmos or others

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Q: How far is ICONLOOP with the development of interoperability?

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Q: 22 nodes is the intial node count. But that cant be ICONs final goal? How decentralized is a 22 node network? and are there any current plans to add more nodes in the future to let say 100 nodes, 1000 nodes etc?

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Q: any chance we will be able to stake through our ledger wallet?

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Q: My question is around ICON’s work on Stable Tokens. Will we, as outsiders, have the possibility to know for sure that a created Stable Token is backed 1–1 with real tangible assets ie USD?

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Q: How does ICON / ICX benefit from ICONLOOP being an AWS Advanced Technology Partner (ATP) where AWS offers blockchains built on IBM Hyperledger Fabric and Ethereum.

Secondly, the Samsung MOU is not being addressed. Not giving an answer is being interpreted as ‘something = not right’, either say you can’t reveal info or things don’t work out, but silence kills credibility after what we have been through.

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Q: When does Icon expect to have interoperability functionality completed?

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Q: How long will the P-reps be in testnet environment? April 2019 until Q4 2019 seems to be not enough time to fully test the nodes? When will they be allowed to go live on the mainnet? Because until then nothing is really decentralized and mainnet is only an illusion. Can the Q4 2019 window be delayed and will that be communicated accordingly?

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Q: Can you confirm staking will be operationnal starting August ?

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Marketing

Q: I would like to know if there are any plans to increase the marketing efforts of ICON, either by the official team, or a 3rd party agency

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Q: What has happened with Icx stations? What value has it brought to Icon? All the talk with repurchase? Where is this now?

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Other

Q: Do you have some insights about the korean government policy about ICO ? will it be back anytime soon ? are there some rumors ?

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Q: What has pilot project for importing ecommerce with Icx token? And what about voting system for Korea? What does Icx token for this? I suppose nothing. Its just one win for your private side of the company. And if icx token is needed in this, why have we seen total big decline both in volume and satoshis?

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As always, please feel free to reach out to us if you ever have questions about ICONation and thank you for stopping by our Medium for the latest!

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