Recap of XRI AMA Session — 18th February 2022.

This is a recap of the AMA session held in the XRI Telegram community on February 18th, 2022. The AMA session featured Mr. Hideki Fujii, the president of XRI limited who attended to all the questions raised during the session.

AMA has always been a time to ask all project-related questions and get your answers directly from the team which makes it a great opportunity to learn about XRI.

Let’s get rolling!

Host: Mr. Hideki Fujii, would you like to give a short self-introduction to your community?

Mr. Hideki: Hello, everyone! My name is Hideki Fujii. I have a strong background in technologies, especially in the Fintech space (over 20 years).

I have managed several insurance companies as a senior executive at AIG, Prudential, MetLife, and Zurich. I was also a senior partner at EY which is a global consulting firm and a CEO at Pactera consulting which I founded in 2015.

Based on my past experience, I found a smashing idea of starting this project which could change the world and make the world a better place when I met several great projects in the crypto-asset industry.

Host: This AMA is divided into 3 segments:

First segment: Some introductory questions for the audience to understand more about the XRI project.

Second segment: Inquiries from Twitter/Google form questions

Third segment: Inquiries Live Questions from Telegram members

Let’s get started with the AMA questions.

First Segment:

Q. What is your Vision and Mission speak to the direction we are heading?

A. Our vision is to apply the many great projects in the crypto-asset industry to the real world. We aim to be the crossroad between the crypto-asset industry and the existing industry. We aim to provide a mechanism to collect real-world information and feed it back to the real world, an example is an Oracle. We also intend to provide society with an extension of the already existing DAO concept, such as DeFi, through Oracle-based scoring.

Q. So basically, you are the link between crypto-assets and the real world?

A. Yes, it is! Metaverse is a really good sample of the real and virtual world.

Q. We all know that the ecosystem is very important for a blockchain project. Can you introduce XRI’s ecosystem design and related technical support? What practical use cases are there? And how to deal with mass adoption?

A. We are going to make use of the metaverse. I will explain our strategy on the metaverse later on today! In addition to the metaverse, I’d like to really use NFTs. Please go ahead to the next question.

Q. Thanks a lot. We know that most players in the crypto industry need to achieve wealth accumulation. How will you ensure users’ long-term holding and earning of XRI?

What are the ways to ensure the stability of the project and provide long-term returns to investors?

A. In order to stabilize the price of XRI tokens, we are currently working on three major initiatives to stabilize the value of XRI tokens.

The first one is the use of gold, which we have already announced, and the Gold Debit NFT, which will reflect the value of the NFT and the value of gold in the XRI token. We intend to create an economically stable exchange model between XRI tokens and Gold Debit NFTs.

As you may know, Degussa is a giant company of gold which can provide enough gold to us. We are proud of the alliance.

The second one is that we are working on our own DeFi, which we are planning to launch within this year with our original metaverse of MetaXmarZ, in addition to our partnership model with Coineal. We aim to create a scheme to stabilize each other’s value by creating a currency mix with multiple virtual currencies that are already recognized for their value.

Q. Wow. This is getting interesting. Thank you for your answer.

Here’s the next question.

What can you tell us about the idea for XRI itself? Tell us about its Origins and what inspired you to build this ecosystem?

A. There are many great projects in the crypto-asset industry. One example is DeFi, which began with the idea that it would be interesting to implement a DAO like DeFi in society.

In order to do so, we needed a mechanism to exchange data accurately, a mechanism to classify (score) data, and a concept like DAO, which is now in widespread use, and the crypto-asset industry has all of these.

The crypto asset industry has it all, and we started with the belief that many of the technical aspects are already in place.

Since the current crypto-asset industry and digital industry is not ready for everyone to use, we believe that in order to realize the concept of legal compliance and at the same time for everyone to be able to use it safely, we need a way to manage personal information and a mechanism to return the reward from that information to the individual. I came up with the idea and started the current project about three years ago, aiming for digital inclusion.

Q. Do you have any exciting partnerships, advisors, and investors you would like to tell us more about?

A. Jasmy is a famous project from Japan. In addition to it, we are negotiating with a famous Japanese VR firm that can create an attractive metaverse. As for cybersecurity, we are strong advisors from the ex-US president of the Trump team.

Q. XRoad is offering its users a way of digitizing their assets to secure and prove ownership through the use of XRoadNFT. NFTs today are so popular that even the company VISA bought their own. To further expand the capabilities of XRoadNFT, not just proving ownership, will you create your own NFT marketplace and NFT staking features in the future? Is it possible that XRoadNFTs can be integrated into one of your products (XRoad Oracles, XRDS, and XRoad Locker)?

A. Yes, exactly. We have a roadmap for creating original NFT content with Oracle scoring. It would be really an original NFTs.

Q. I have a question about the XRDS or XRoad Decentralized Storage node operating mode. It says on your website that the XRDS protocol is the one that will set storage levels and uptimes of each node. Does this mean all node operators shall meet the storage standard requirements on every change of levels?

Do they also need to add more $XRI to their respective staked nodes to catch up with the node quota?

Also, how often will the storage level change?

A. We are studying the idea of XRDS by conducting several POC ideas with Jasmy who is our partner and making use of some partner companies. In order to achieve our Web 3.0 Oracle vision, it is really important but we have not arrived at a good solution yet. As a first step, we’d like to be really successful on the MetaXmarZ project. We have not developed XRDS yet so, in the near future, after several POCs, we will make the idea a product.

Q. Thank you for that answer. Here’s the next question.

XRoad is using blockchain technology and the Xroad Locker is designed with the core belief in user-controlled data. For the sake of users’ convenience, how can they have control over a particular service provider which has access to their data? To what extent will they be allowed to govern the value of their disclosed data to the specific service provider?

A. Same as above, we are studying the idea but we have not reached the solutions yet.

That was a great one! We have come to the end of the first segment, and I believe that you enjoyed it and have gotten more understanding about XRI.

And now we are on to the next segment

For this segment, we have collected some questions from our users via Twitter and Google form submissions.

Second Segment:

Q. This is the first question.

Data privacy is one of the main limitations of blockchain and on a public blockchain, new participants can join the blockchain network freely and access all the information recorded on the blockchain. Since XRoad is the Intersection for the management of users’ data from off-chain to on-chain and back, How do you ensure the confidentiality of the data stored on a blockchain? What solution have you provided to preserve the privacy of users on your platform and with what benefits?

A. Same as above, we are studying the idea but we have not reached the solutions yet. However, we are going to make use of technology from Israel and formally study the Web 3.0 CRM model with some Japanese companies. In order to achieve the Web 3.0 vision, the challenges of the XRI project are really important and we believe our project will make the world a little better.

Q. This is the next question: Have you already decided on the percentage of staking?

A. Not yet, this is currently in the works. Please wait for a while. We will start metaverse land sales shortly and in order to make the land profitable, we’d like to implement the function that the staking is necessary.

Q. What do you think are the problems with Metaverse platforms nowadays?

A. I would not say it is a problem, rather it’s a challenge for the Metaverse platform to be able to make sure their net increase of participants is always positive. Therefore, we are going to start a really unique metaverse called MetaXmarZ.

As for the first land sales, we are going to use the homage of Kyoto city Japan, the oldest city.

Many metaverses are designed based on reality. Thus, we are designing a planet like a metaverse called MetaXmarZ. BTW you may know, Kyoto is really old and we will design the old Kyoto of Heiankyo. We have already started NFT contents sales at OpenSea. Please check them: https://opensea.io/XRI

Q. MetaXmarz is looking interesting, and I have a few questions concerning it. How is Oracle used on Metaverse?

A. Scoring for DAO-type services such as DeFi, EC, and AD(advertisement). We have intellectual property for those ideas. We can mint original NFTs by using Oracles. In addition to it, we are studying to add KYL information (KYL = Know Your Location ) which is a new project called Zeta.

Q. This is the final question. Can you compare MetaXmarz with any of your competitors’?

A. An original metaverse is an homage to Mars with XRI wallet and Z KYL device. Starting from 12 cities, initiatives that have original concepts. The first town is a god and goddess place that Lady Gaga loves.

For ensuring strong cyber security and making personal data protections authorities belong to each user, users for the metaverse have to use XRI wallet (personal information bank for Dapps) and endpoint devices of Z (which is supposed to be wifi devices with BLE which make more security controls possible).

Users can control their personal information on data disclosure and service providers can trust KYC and KYL by XRI wallet and Z KYL.

Host: Thanks, Mr. Fujii for taking the time to attend the AMA today. All the questions were nicely answered.

Thanks again for giving us your precious time. We appreciate you!

Are there any last words you’d like to share with us?

Mr. Hideki: Our project is really unique. Firstly, we have strong partnerships already and announce partnerships with famous companies in the near future. Secondly, we can make use of gold, NFT assets, metaverse economics, and other partner tokens for ensuring our token value. Thirdly, we have YOU (i.e. strong promoters).

Be the change you wish to see in other people. Mohandas Karamchand Gandhi.

Third Segment: Telegram Community Questions

Q. A common problem is that nowadays most investors are only interested in initial profits and ignore long-term benefits! So can you give them some reasons why they should buy and hold your tokens in the long term?

A. Please trust us we will achieve our vision of Web 3.0 in the long term. If we achieve our vision, the value of the XRI token will be X1000, isn’t it?

Q. Current NFT is a hot topic but is NFT not just for art. Does your project think that more real-world use cases will emerge for NFTs as time goes on, why should we take NFTs seriously?

A. Yes, NFT seems to be a good solution for reflecting the real world to a virtual world. We will study more and find out a good business model to make use of the potential of NFTs.

Q. Revenue is an important aspect for all projects to survive and sustain. So how does your project plan to generate profit and revenue?

A. We will sell our original NFTs such as Gold NFT, Oracle NFTs and KYL NFTS. In addition to selling NFTs, we will achieve a Web 3.0 business model of advertisements and EC.

Thank you for revisiting the AMA Recap!

Useful Resource Links:

・Official Website: https://exroad.io/

・Telegram: https://t.me/xroad_initiative

・Instagram: https://www.instagram.com/xri_ltd_info/

・Twitter: https://twitter.com/xri_ltd_info/