We hosted Fran Villalba Segarra, INXT’s CEO. This is the full record of the AMA session (original spelling).
What is Internxt?
Internxt is disrupting thrilling industries through the application of revolutionary technologies. The goal is a vast suite of innovative services that are mass-market attractive. X Core is the foundational base of our first service, X Cloud. X Core is the infrastructure created by users all around the world participating in the creation of a decentralized, more secure internet. Users can sell the resources of their machines to those looking to host their data in a more private, secure and efficient way.
What is X Cloud?
Internxt’s X Cloud allows all users to store files in a truly secure, private and reliable cloud, without compromising on user experience. X Cloud will be faster, cheaper, and more secure than traditional cloud storage platforms. Furthermore, Internxt fundamentally believes in beautiful design. It may take a little more time in the beginning to craft a joyful product experience for all users but the benefits of doing so are born out in the end. Internxt built X Cloud to be simple, elegant and intuitive, but also extremely powerful and highly customizable. X Cloud’s desktop interface consists of an easy-to-use folder where files are automatically synchronized with X Core. (X Core’s rapid synchronization of files throughout the P2P computers that comprise the network runs with Qt/C++ technology). With X Cloud, user data is no longer stored in a central location, but instead end-to-end encrypted, split into pieces, and then distributed amongst different machines all around the world. With X Cloud, the user is the only one with access to his/her digital possessions, the way it should have always been. The cloud services currently adopted and in use today are vulnerable to a variety of attacks, which can lead to encryption walls being bypassed and user’s personal information accessible to hackers.
X Cloud strives to be used by the crypto community at first. During 2019, as soon as we have a big enough infrastructure, we strive to focus on businesses corporations and startups have large amounts of data and are concerned about security, thus a more secure and cheaper way to store their files on the cloud certainly sounds attractive.
How would you pitch and/or sell Internxt to your audience? Do you have a very closed demographic or is it built for anyone? Is there already a concrete plan in place? How will you raise awareness?
We’re already doing all kinds of marketing to reach the crypto market (search for Internxt on YouTube). we’ve got all kinds of Twitter and YouTube influencers talking about us and our marketing team is also active on reddit, telegram, twitter etc to manually promote Internxt.
What else than YT? can you name specifics?
YouTube mainly, but we’re also active on Twitter.
Reddit? Twitter? LinkedIn?
We’ve got all kinds of Twitter and YouTube influencers talking about us and our marketing team is also active on reddit, telegram, twitter etc to manually promote Internxt.
Medium and Steemit?
Steemit too, yes!
https://medium.com/internxt/internxts-x-cloud-a-shark-in-an-ocean-of-sia-and-storj-8342adfdb19b
https://medium.com/internxt/x-cloud-and-how-we-will-disrupt-the-cloud-storage-market-be52f28e339
Those two articles answer the question of who are our competitors and how Internxt’s X Cloud is better than them.
We wanna hear more about your Blackberry partnership.
Absolutely! Here’s all info relative to Internxt’s partnership with BlackBerry https://medium.com/internxt/internxt-and-blackberry-partner-to-enhance-x-clouds-security-25bb5ad7d33d
In terms of region demographic in the world what’s your first target audience?
United States and Europe mainly, although we do operate globally.
What is your main goal in the next year?
Next year’s main goal is to expand our customer base, this year was the year of core development. Next year we’ll be progressively improving our product and focusing on sales.
I understand your strategic partnership with Blackberry for safety and security, in Q4 when you roll out the commercial product will Blackberry assist Internxt in gaining more widespread adoption?
We’re looking into getting phone and pc companies to have X Cloud preinstalled just like Macbooks/iPhones have iCloud preinstalled. There’s nothing concrete yet.
Your biggest threat/obstacle now (not your competitors)?
The hardest part for X Cloud is already over. This was getting everything together to build this. Now we’ll be harvesting the seeds we’ve been harvesting this past year, through further product development and sales.
Which companies will you approach and how will you pitch them?
We’ll be approaching companies like HP, OnePlus or BlackBerry, to which we will offer a cut of our profit and perhaps a payment upfront for getting X Cloud preinstalled on their devices.
Are you working on further partnerships with blockchain projects after CIVIC?
We’re working on a partnership with Hacken, who may potentially help us improve our infrastructure later this year.
Also, now that you mention it. In case people are wondering, some info on our partnership with Civic https://medium.com/internxt/internxt-and-civic-partner-to-encourage-the-intended-use-of-internxts-new-technologies-fa650ef590e3
Fran, can you explain which role will the token play in all this. Why is it worth holding it?
Internxt tokens will be used as the main payment option for X Cloud Beta. And in our stable release, we will accept both, INXT and USD. The dollars we get will be used to purchase INXT from the market and with all the INXT collected, we keep a cut and then the majority of it goes to Hosts.
I know your supply is very very low, but any plans for staking rewards?
We may potentially introduce further rewards for token holders, but we want to see how regulation develops first.
I was wondering how you would feel if you were to be offered a lot of money for Internxt? Any big corporation would surely just get rid of the token. This is a concern of mine as someone looking to speculate on the price of INXT.
The question is what would I do if a corporation wanted to buy Internxt? I wouldn’t. Internxt is my life 🙂 that doesn’t have a price!
Have you tried to reach your authorities to popularise your project, tell us about your gov’s stance towards crypto and blockchain?
Internxt is a registered entity and everything we do, we try to do it properly. Crypto is an incredibly unregulated industry still, and thus we’re walking hand in hand with regulation so that we can adapt to it as it gets approved but yes, regulation is definitely something we’ve got in the watch constantly.
Whats the current Kucoin situation? Is all paperwork done, fee paid? Because I know you are trying to get there.
Glad you asked! We’re currently in a KuCoin voting competition, which started today and ends in a couple days! You guys can vote for us and win 1000 INXT, all details are here https://medium.com/internxt/win-1000-inxt-by-voting-for-internxt-to-get-listed-on-kucoin-8dd85ec943ce
How many expected users are to signup to X Cloud upon 2019? Any predictions?
https://internxt.com/whitepaper.pdf , please check Market position section.
If it were one thing that makes you better over the competition and one thing that can help you surface to combat those decentralised giant platforms, what would it be (I don’t “decentralisation” as the answer!
https://medium.com/internxt/buy-inxt-without-an-exchange-buying-crypto-has-never-been-so-simple-b6e073cb76ab
And we’re more secure, scalable and cheap.
For a cloud service, why do you choose to have such a low token supply?
It doesn’t have any impact on anything. INXT is divisible by 8 decimal places.
I’m also not sure i get your plan about using USD to repurchase the token at market price? what does that achieve and what happens to those bought tokens?
That’s explained in very much detail in our whitepaper, in the token section: https://internxt.com/whitepaper.pdf
Do you have a plan to compete with the top Kucoin competition leaders? The #1 belongs to LockTrip who are using airdrops and built up a 50 Telegram channel in a few days, then they turned around and told all of the members they will not receive their tokens unless they vote in the competition and post a link to the screenshot.
Yes, we’re just waiting to see how the competition develops and starting tomorrow we’ll turn our marketing magic on. We’ll start scaling positions then! Let’s see if that’s enough. As regulation comes and legit exchanges are differentiated from those that will die/get banned when the hype is completely over, we will be investing more funds into getting in proper exchanges, right now it’s too expensive and risky. But yes, exchanges are something relevant for us!
Do you consider Binance less proper?
I like Binance quite a lot, but I do think that there’ll be better, more popular and legit alternatives. For example, Switzerland is working on a regulated crypto exchange, that’s the kind of stuff we’re looking at.
How many hosts do you have as of now? or you haven’t got to that stage yet?
We’re releasing the Beta this Quarter, so ill be able to answer that question in a few weeks. You can sign up for the Beta waitlist both of X Cloud and X Core at https://internxt.com/cloud and https://internxt.com/core
I may be wrong but the whitepaper seems not to mention how you distribute the token back to the host and if that depends on how “big” a host is, how you prevent “centralization” of your tokens since I assume the distributed tokens will be sold eventually by the hosts to get money, prob on exchanges?
In the coming days we’ll be releasing the formula that will determine X Core payouts, you’ll be able to see that then!
Since its not ready yet, is token centralization (price manipulation) possible?
Like with any other asset class of this kind, price manipulation is always possible. However, as trading volume increases this will become increasingly hard.
From your hosts, i mean, later on, eventually.
Hosts can accumulate the INXT they earn, no specific measures to avoid that are set as of today. If this is ever to become an issue we may establish rules to avoid that.
So, 1000 INXT will be drawn to supporters for voting on the Kucoin listing right?
All details are here https://medium.com/internxt/win-1000-inxt-by-voting-for-internxt-to-get-listed-on-kucoin-8dd85ec943ce
If no other questions are answered, we would like to thank @fvsegarra for his precious time and those answers. We hope that you guys will get what’s planned and get that Kucoin listing soon. We will monitor your progress all the time and hope that you wont fail us.
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