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Space Summary
The Twitter Space offered a comprehensive update on the project’s progress and future plans, focusing primarily on infrastructure and data security. Key highlights included the soft launch of the Android app and the ongoing auditing process for their non-custodial wallet. Measures to secure user data were discussed in detail, emphasizing minimal data collection and secure storage on the user’s end. The team showcased their commitment to transparency by engaging with the community, gathering feedback, and integrating it into future updates. Upcoming features and marketing strategies aimed at enhancing visibility and user engagement were also highlighted. The discussion concluded with a teaser for a future AMA, promising more in-depth insights.
Questions
Q: How is user data secured on the platform?
A: Most data is stored on the user side; minimal data is taken, following ongoing audits.
Q: What’s new with the Android app?
A: We’ve had a soft launch and gathered data on user experience to enhance the app.
Q: What are some upcoming features?
A: Future additions include enhanced trading features and more secure wallet options.
Q: How does the team handle user feedback?
A: User feedback is actively gathered and integrated into future updates.
Q: What security measures are in place?
A: Stringent audits and minimal data collection ensure high security.
Q: What challenges have been faced in development?
A: Complex infrastructure demands and security needs have been primary challenges.
Q: How involved is the community?
A: The community is regularly engaged for feedback and updates.
Q: What’s the timeline for upcoming audits?
A: Audits are ongoing, with anticipated completions mentioned in forthcoming updates.
Q: What’s the marketing strategy?
A: Focus on visibility and user acquisition while nurturing existing users.
Q: How is project growth being approached?
A: Through transparent communication, feedback integration, and continual improvements.
Highlights
Time: 00:01:24
Development Insights
Time: 00:03:23
Android App Launch
Time: 00:05:12
Securing User Data
Time: 00:07:40
Audits in Progress
Time: 00:10:33
User Feedback Integration
Time: 00:12:28
Infrastructure Challenges
Time: 00:15:55
Community Engagement
Time: 00:18:16
Upcoming Features
Time: 00:21:47
Marketing Strategy
Time: 00:23:19
Future AMA
Key Takeaways
- Project Updates were discussed
- highlighting the Android app launch.
- User Data Security is a top priority with non-custodial wallets and audits.
- Active Community Engagement to gather feedback and involve users.
- Future Plans include enhanced features
- roadmap discussions
- and growth projections.
- Ongoing Audits for both the wallet and trading features were emphasized.
- Marketing Strategies aimed at enhancing visibility and user base.
- Feedback Integration to improve functionality based on user input.
- Development Challenges include infrastructure and security complexities.
- Transparency is key with commitments to inform users about milestones.
- Positive Growth Projection showcasing project growth and user engagement.
Behind the Mic
All right, everyone, thank you for your patience. We are just waiting for Dior to hop up here. As soon as we get them, we’ll get this thing going and we will start off with. Kick off with the announcements that I know so many people have been waiting for. Shout out to you all for being here. Looking forward to this. Yes, we can. How are you doing, brother? Awesome. Doing good, doing good. What about yourself? I’m doing well, thank you. It’s a beautiful day. Can’t complain. Happy to see where we’re at in the market. Just living my life. The market acting good today. You don’t know what comes tomorrow, though. Let me have today then. Exactly. Exactly. One day at a time in the market. One day at a time, exactly. All right, guys, we’re going to get this thing going soon. Just waiting for. Just waiting for one more speaker. We will get this thing going, guys. In the meantime, just be patient with us. All righty then. Now we got the official deore account up here. We got one of the esteemed founders, Alex, up here. All Steve gens are in the right place. We have a good community up. I think it’s time to think. It’s time to kick this off. We are recording this, everyone. We do appreciate you being here. This has been a long time coming for us, and we’ll do, trust me when I say I’m excited for this. This has been something that the team has been working on for. It feels like forever. I know it’s been a couple of years, but it feels like it’s been even longer. Feels like this has been a conception since. Since bitcoin first came out, but that’s a little excessive, I guess. With that being said, let’s kick this off. Alex Dior, would you guys like to introduce yourselves? Yeah, of course. Thank you. Thank you for the warm introduction. And indeed, you’re right. Probably Satoshi was sitting at the first roundtable thinking about, you know, how Deore’s going to be great. But anyways, my name is Alexanders. I’m one of the co founders of Deore. I’m the CPO, so I’m the one responsible for the product. So all of the hate mail, please direct to my email. But with me also is Marcus. And he is. Marcus. You like to introduce yourself as well? Yeah, hi everyone. And thank you for the warm welcoming here. Indeed, this has been one of the, you know, cornerstones of the idea of Satoshi when we gathered around and said, how can we revolutionize the world in a way that has never been done before? And we thought of a product that will really enable the Web3 market. And that is just going to be the beginning as we’ll open up to other markets. And my name is Marcus, one of the co founders of Deore as well. And the CEO of the company, basically. So, yeah. Any hate mails again, please direct to Alex and not me. I will take all of the congratulations. But all the rest of you please send to Alex and he will help you out. I’m just kidding. No, we are very happy to be here, actually. So, yeah. Please, if you wills hit us with the first questions, let’s get this going. And I will be very happy to answer. Yeah. And I just wanted to say, you know, thanks for all the support and continued excitement around this project. We really feel like we’re on to something special here and we can’t do it without the community. So we do appreciate everyone being here. So first thing, you just kind of explain to people who might not know or like aren’t familiar. What exactly does your project do and where you guys are going? I’ll start and then Alex and Marcus feel free to chime in where you feel necessary. So essentially, what we are building and have built is the infrastructure needed to drive education around blockchain and decentralization technology with an emphasis on security and privacy. So you’re able to either start a venture or scale your own already existing venture using our suite of tools, which include things like Deore ID, where you’re able to have your self sovereign identity. It includes Deore wallet where you have, you know, the non custodial SIMI custodial, multi custodial capabilities of being able to much like a, let’s say a bank account. You know, you have that multi signature fiduciary responsibility and control over certain accounts and amounts. We include everything from Deore Academy where you’re able to learn about all new and interesting concepts around the Web3 space and so much more. So fundamentally, you know, we have built not only the infrastructure, but the go to market strategy, which involves making sure that people have the right tools as well as the right guides to navigate the very still very nascent Web3 landscape. Yeah, and I think one of the challenges we’ve seen throughout our journey so far has been ensuring that the infrastructure is built up on the back end to be able to support something like this. I know we had the Android app launch as a soft launch, be able to get the users in there. And from there, we’ve actually been able to gather a lot of data on what is working, what isn’t working, what users would like to see. Could you just explain a little bit about how Deore really secures user data on the platform? Hey, yeah, I’ll take this one, but I think a great question. We have covered this a few times, but most importantly, what we do, we try to not take any data as little as possible humanly for us to fully function the app and tailor it to the necessities of each user. We try to take as little data as possible from the crypto side to non custodial wallet, which is going to be audited and is in progress right now actually being audited, as well as all of the crypto trading features will also be audited on top of that to make sure that everything is safe. But we have kept it as secure as we can, try to save as little information as we can. And most of the information regarding crypto is saved on the front end. So on the user side, and we don’t touch it, we don’t see it, we don’t get your seed phrases, we can’t do anything with your wallets and that is the same mentality. Also for all of the other user data, we try to collect as little as we can and we do not utilize it in any other way. Do not share it with anybody unless we are obligated legally to do such things, which of course is with consent of the user. I think that this is the single biggest point that we ourselves try to achieve is to make it private first security, privacy first design infrastructure and then to be able to uphold that throughout all the features that we will build on top of it. Because as each feature get build, we get more and more data, but we try to collect as little as possible. And I think that’s absolutely spot on. And in general, this is a promise to to our users and future users in general. Yeah, and I just wanted to highlight some of the things that we’ve made strides on since, let’s say the last year and even the beginning of this year, because I feel like, you know, it’s important to recognize the progress. And of course, you know, give you guys that update. So we’ve done a lot more in terms of the non custodial wallet. We’ve added biometric security to make sure that, you know, you’re able to access your wallet only. And that doesn’t involve having to remember a random string of letters and characters. Our Deore ID or DID, as we’ll be referring to it, and our documentation, make sure you’re on the lookout for that, involves having things like unrestricted access and your ability to basically connect with other people, other groups, while maintaining your sovereignty, while maintaining your privacy, maintaining your data security. One of the things we’re going to be building out in terms of additional features, which are going to be inserted here and coming soon. We will involve things like our Deore marketplace where you’re able to not only exchange digital assets but also be able to do things like create fungible assets. So like, let’s say, NFTs, being able to create decentralized finance instruments, being able to visualize them and for them to be utilizing our infrastructure to create their own decentralized applications. And I think Marcus has additional points here as well. Yeah, just actually touching up on that, regarding the wallet that you are mentioning, we have had this excitement running through the team and we had met many stakeholders and people around that expressed the exact same excitement, especially around Deore wallet. We’ve had this goal of a great product design in the end, which actually functions and is easy to use. And on a related note with the biometrics, we went a little bit further as we tried to give them an umbrella in a way that should secure them through that. So we looked at a little bit of the operational security in the Deore wallet. We have that pinned down and we are live actually in test flight on iOS. This is where your feedback actually matters. And we would really love it if everybody just went through and commented on the design, the flow and gave us your feedback along the way. As coming from the feedback that we will. We will try to build new and better and improve upon the product. And these are the exact steps that you will be seeing Deore doing in the upcoming months and probably years to come. We would really love your feedback in order for us to make this product the best product out there. Apart from this, we have actually also filed with Apple Store in the Google Play. So the release is going to be soon. And we have a few newsletters going to cover that. So we will keep you updated. Yeah, this is Marcus. And I wanted to give a shout out to Juanito because Juanito has actually been rocking it as our head developer, has been making sure that all the pieces fit together. The designs that we are putting together are coming out wonderful. The Web3 community and feedback that we have gotten has also been really good. So shout out to Juanito. You have been doing a super job at making sure that essentially all of the infrastructure things that we take for granted are actually falling into place and are functional like the Android app, the biometric security and so on. Awesome. And if you were to highlight one of your favorite features about the app, what would it be? Probably for me, it’s been the Deore ID as well as the biometric security. We have actually decided long term that this will open a lot of doors and use cases that I think Web3 users in general are just going to utilize and absolutely value. Yeah, I agree. And there’s there is another thing I would love to add on top of everything that we will explain is one feature that is coming, which I think is my favorite, is what we internally call it is the Honey Badger mode. And this is basically something that will allow the users to be. Offline, but still will be able to send money or wallets. And this is not something you’ve seen in a typical crypto wallet or it’s not something that you’ve seen in other places in the market. So I do think this is my favorite part, one of the features that is coming up together with all of the other amazing things that we have. But of course, I don’t know if the feature is going to look the same throughout the span that we have until it’s launched. It’s going to be in the next, let’s say, month or so. But right now, this is my favorite part. And I also want to call out to all the community out there to, you know, give us some feedback on that and actually tell us what they think, because as we try to build this, again, community feedback is super important. And this is basically where we want to improve the product the most with the features. And I would just add that, you know, one of the things we pride ourselves on is transparency and openness with our community. You really do drive a lot of our decisions and how we build and in which direction we head towards. Yeah, that’s actually very well said. Yeah. I mean, so to kind of go back a little bit, what was kind of the inspiration for this, if you could recall, or what was that aha moment for you? Sure. I could, I guess I could start over here at Marcus. Please feel free to unmute and jump in after me. Essentially, I think I think most importantly, when when this whole revolution started, we wanted to see how we can accept and bring credit card payments in a safe and secure manner. We also saw that. Many vendors and providers actually and are unable to support the the necessarily needed infrastructure in the back end because it is not something that you just need to learn from scratch. It’s also very difficult. So we saw a bit of a vision for the future. There’s a gap. There was lack of transparency. The challenge is, you know, were very clear for us. So we set ourselves this vision to bridge the gap, right? And we decided to make sure that this information that is, you know, being educated on Web3 is secure, easy to understand, easy to scale for both newcomers and veterans alike. Yeah. Absolutely just to corroborate on that, maybe just give a bit of context as well. Basically, our journey together with Alex has started even a few years before then, but we met together with the rest of the founders and decided to craft and actually figure out a problem that we think we can solve to push this revolution forward. And we were operational security people back in the days, you know, detecting security vulnerabilities. And we saw that this was a very, I mean, applicable to the space as well as Mr. Olsen said. So basically, we tried to look at a problem and tried not to shift, basically decided to work ourselves towards improving this by building the product and the communication that could enable big and small expert and non expert people within the space and felt that this also created lack of transparency into what was most valuable to us. Working as auditors before me and Alex, detecting vulnerabilities has always been a considerable motivation in ensuring user security from our side. So, you know, you just can imagine what our motivation was when we entered the Web3 space. Been quite challenging. We’ve had a lengthy start and happy for what we what we have achieved along the way. Awesome, yeah, thanks so much, guys, that was that was awesome. Really good insight. I guess shifting a little bit towards the strategies portion, if you can, could you guys shed some light on your product and marketing strategy moving forward? Yeah, of course. I can start here as well. Marcus feels free to, you know, take it away after. Essentially, you know, one of the most critical things here is when we decided to get our branding and our positioning as a company and as a product ready, as we knew the core fundamentals of what we were building and we wanted to make sure that the value prop was easily understandable. So communicating that by targeting early adopters and you know those early adopters who are community members are Web3 space incumbents who are really excited and interested to kind of experience what it is to have a privacy first non custodial experience. And the value prop was clear. For example, you know, when we launched our Net new website. Interesting thing here is that we were able to communicate that long journey that we essentially went through to vet and really comprehend what we were building. We were then able to bring on users who were able to connect to multiple other applications as well. But not only that also users who were interested in keeping their data private. Users who were able to take advantage of things like our academy to learn more, not about Web3 alone, but also about security in Web3. Things like what it means to cryptographically secure your data. In terms of the go to market strategy, that included making sure that we were focused mostly on those early adopters, as they are the ones who kind of drive the feedback that allows us to iterate on the product. And in terms of future marketing strategies, those are going to include much more mass market engagement. As this is being tested in the future, we’re looking forward to seeing things like, you know, public engagement events and where we can actually explain more, not only about our infrastructure, but how this could benefit people in real world examples. Marcus, I think you have additional points. Yeah, exactly. And maybe just to just to follow up on that exactly. You’ve mentioned Net New website, we’ve had, let’s call it challenging because we have been, you know, working during the last basically bear market years on perfecting this product and trying to come up with something that will be truly valuable. And one of the key points that has always been in the, back in the earlier days is the non custody and security aspect and just taking it back a little bit to the product, you know, worproduct first driven company or organization, however you want to call it. The go to market strategy, therefore is strictly connected to what we identify most pressing towards the market, meaning early. Early returners and experts will always drive the community just as owners that are targeted more and more people that are not much familiar with Web3. And the challenge is moreover that understanding the needs also drives for the-go-market decisions that we are explicitly making. This is why builds and communication on the website were directly targeted towards specific features that we felt that could drive the biggest value initially, which includes just what Alex had mentioned. I mean, the storage of your cryptocurrency NFTs and keeping zero user data that is not absolutely necessary to run the product and product first people first approach was would be key to success with any build or communication within the company. I would just give us a few seconds to finish up if we can. Yeah, Finn was just saying can you add up, Marcus? I have been jumping in. I think that was Finn. But other than that, I think that was well said. That was awesome. Good stuff guys. Yeah, maybe if I would, if I would just expand that I thought, I think it’s also important to understand that we are also operational people, right? Not only, and when I say that communication alignment around security and privacy is one of the core principles. But also to understand the needs as you said. Both you, Marcus and Alex, I think you will agree with me on this as well, that both needs of the consumer, but especially in our case also the business alignment and it would also make sense to further iterate our go-to-market decisions. Fully support that of course. Perfect. Yeah, no, that makes sense for sure. So then kind of continuing on that, right? Are you guys able to give us a price point or maybe even hint on a potential price point for the product? Yeah. I mean, of course, I’m not going to be very specific right now. We are exploring the best way to bring that as a value to our community first and to ensure whenever a product gets to launch, it has the fair price and the proper value to what we are trying to achieve. Then the community and user will drive also that decision. Market will decide, so. Indeed, as you said, Alex. From our point of view, you can’t project into best fair evaluations and don’t take just our word on it, I guess, but take the market value generated towards what we do and what we will do. Yeah, absolutely. I have to also add a part on, of course, subscription loads. We’ll have to have entry points and, you know, low tier subscription plans that will enable you to utilize more parts
