PARSIQ Q&A #11
Every Friday PARSIQ team answers your most important questions. Join our Telegram chat to ask!
Thanks for the awesome questions, it’s really great to experience the level of community involvement we are seeing 🚀🚀
- What is the overall dream for Parsiq? Not a specific product/tech, the ‘big picture’ mission statement. Has this evolved over the past year?
The goal is to provide real-world value, solve pain points for the industry as a whole and propel the mass adoption of blockchain technology by being the essential infrastructure bridge between decentralized systems and everything else. This has always been the mission, it is evolving all the time as even we discover how much can be disrupted by blockchain tech and we aim to play a central part in this process.
2. Could you give a comment regarding the recent USDC news?
We believe that this is huge news for the whole market and for PARSIQ as well. And the news came directly from the US (OCC), this means that there’s less and less uncertainty. Imagine that all the financial settlement and payments in the world will be executed and visible on-chain, how bullish does that sound?
3. Are there new companies in line to implement Ncase wallet besides ones already mentioned?
Ncase is getting more requests from potential clients than we anticipated. We can name the companies only when we onboard them and when they allow us to disclose this information. Stay tuned for these announcements throughout 2021.
4. I believe it was mentioned that there is a ton of behind the scenes talk with potential partners (blockchain platforms and non-crypto entities), how are these progressing? Are there any difficulties the project is experiencing currently?
These discussions are going on all the time and they are going very well. An important distinction is that crypto projects and companies move much faster than traditional enterprises. Expect a very large amount of collaborations with crypto companies in the future, we have more requests for collabs and integrations than we can handle. Non-crypto enterprises are more difficult as they can talk for months before moving forward, but initial feedback has been very positive. We hope to announce some of those as well in 2021. The difficulties are that the product has so many use cases with so many opportunities to apply our tech in different industries with different industry players, that we have to choose, focus and prioritize and that is not easy at all.
5. Will there ever be some kind of disclosure as to what business/customer bought PRQ to use the product? Or will it just be guess work? It would be reassuring to token holders to see the token being needed in real time.
We can’t disclose the names of the customers without their consent. However, we will be publishing statistics about the usage and the total PRQ locked for that usage on the platform. In time, we will also create a real-time dashboard (powered by Smart Triggers) so that the community can monitor the inflow, outflow and amount locked at any given time.
6. Can you guys improve your docs please? As a “lazy modern dev”, I have been spoiled for many years by docs from industry giants. I now need common use cases defined in simple how-to articles (imagine a page titled “process a payment” in the docs) and easy access to specifics and API definitions.
You can see Stripe’s (my favorite payment processor) docs as a reference for what I am talking about: https://stripe.com/docs
This is in the to do schedule and we will be revamping all our documentation shortly.
7. You have a lot of “use cases” defined for your product suite but no specific guidance on how to actually implement them. This will drive trendy silicon valley developers away (a majority of your customer base in the “blockchain programming industry”). Can you create implementation guides?
This is also on the to do schedule. Furthermore, we will be doing walkthrough videos to visually explain steps for setting up specific types of triggers etc.
8. I see you can use RabbitMQ as a transport. Are you going to expand this kind of integration to Azure Event Hubs or AWS EventBridge (where 99% of big players send transaction data)?
More generally, are you planning on adding traditional cloud products to the Azure/AWS marketplaces? Your product concept is mostly useful for public cloud apps subscribing to on-chain events (and to bridge the gap between cloud apps and blockchain data)
Great point for more integrations. Currently, it does not seem that adding products to the Marketplaces will be of value. However, Azure Event Hubs & AWS Eventbridge is definitely something that could potentially bring huge value. Our hypothesis is that we will hit those integrations once even more Enterprises start coming in. Current Transports cover 90%+ requirements where less than 10% are requests for some specific Transport integrations.
9. How does the PARSIQ team make sure if a transaction was wrongly sent (scam etc.)? How does Parsiq apply their technology to help those affected by these kinds of phishing attacks?
With our new Governance features (post fork) we can now freeze assets in an account and if proper documentation about wrongdoing or users errors is received and approved, we can undo their mistake or withdraw assets from bad actors as we’ve already done on multiple occasions now.
10. Parsiq seems to be growing quite rapidly. Is the company able to introduce us to the new team members who will be especially critical to the mission going forward?
Yes, you will meet the new wave of recruited talent very soon.
11. What would you tell people who think Ncase is “just a wallet”? Can you say why this service is such a unique feature?
Well, firstly: Ncase isn’t a “wallet” as most would think about a wallet in the general crypto space. Ncase is a wallet deployment system, to enable large scale deployment of wallets to users and clients of that company’s services. Let’s take CoinMetro for example, when they onboard a new client, that client needs unique wallets for every chain that is supported. Usually, you pay a fee for that wallet deployment and it’s just one of the major fees incurring actions for running an Exchange. With our system, the cost is nearly 0, only the monitoring of the clients wallet actually “costs” anything and it’s substantially less than current pricing from competitors. We even created a proof-of-concept payment processor on top of the wallet system and monitoring service, to allow everyday businesses to accept crypto as payment.
12. When is PARSIQ planning to list PRQ on a bigger exchange?
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