AMA Session with Eidoo (02.11.2017)

The Swiss project Eidoo from Chiasso is now corporate member of the Bitcoin Association Switzerland. The Token sale was a big success with raising more than 82’000 Ethereum (above CHF 23m). In an “Ask Me Anything Session” in our Altcoin Telegram Channel at Thursday 2nd October 2017 the team was one hour available to answer all questions from the community regarding this new project (Names of community members are anonymous):

Mr. A, [02.11.17 21:00]

Good evening Ladies and Gentlemen! Welcome to our AMA session with the team from Eidoo, a member of the Bitcoin Association Switzerland! Represented by Community Manager Amelia Tomasicchio and User Support Manager Massimiliano Di Loreto. Please participate and ask a lot of questions. More information about Eidoo: https://eidoo.io/

[Eidoo] Amelia Tomasicchio, [02.11.17 21:00]

Hi everyone, let's start the Q&A

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:00]

Hi Everybody

Mr. A, [02.11.17 21:01]

Hi Amelia, Hi Massimiliano! If you have just 3-4 sentences how would you explain Eidoo?

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:02]

mine probably would be: new experience in cryptocurrency wallet, extremely user friendly and open to future feature implementation, thanks to the development and management team

[Eidoo] Amelia Tomasicchio, [02.11.17 21:03]

Eidoo is the first app that help users to spend, buy, convert, and invest in digital currencies in a few clicks and with a friendly interface.

You would need too many tools to do the same without Eidoo.

Mr. A, [02.11.17 21:03]

Is it somehow like Blockfolio but trading inside?

[Eidoo] Amelia Tomasicchio, [02.11.17 21:05]

Blockfolio doesn't allow users to have a debit credit card; and it doesn't have a decentralized exchange, an ico engine or a decentralized marketplace.

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:05]

because Blockfolio was built around Bitcoin, I think it is a kind of first generation system.

Mr. A, [02.11.17 21:06]

You cover just ERC20 or other systems as well?

Mr. A, [02.11.17 21:06]

Like Dash for example

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:06]

meaning we are scalable and will be always on the spot to implement newer features

Mr. B, [02.11.17 21:06]

\@Mr. B what was the name of the service your team developed so one doesn't need Ether to move ERC20 tokens? I miss that in eidoo. I don't want to buy Ether just move some tokens

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:06]

we also support ERC223

[Eidoo] Amelia Tomasicchio, [02.11.17 21:06]

[In reply to Mr. A]

Right now we only support ethereum and erc20 and erc223, but in the near future we will also implement Bitcoin and more digital currencies

Mr. A, [02.11.17 21:08]

\@Mr B Gas Station I think

[Eidoo] Amelia Tomasicchio, [02.11.17 21:08]

[In reply to Mr. B]

Currently you need to use ETH to pay fees, that's correct.

[Eidoo] Amelia Tomasicchio, [02.11.17 21:08]

But we will follow the market, so maybe we will change this thing shortly

Mr. A, [02.11.17 21:09]

Regarding the Debit-Cards: Just an example: Can I go with this card to the ATM and get CHF 1000 and the card will deduct me ERC 20 tokens? Or do I need first doing an Exchange of Tokens to CHF, to get the card loaded (like Wirex)?

[Eidoo] Amelia Tomasicchio, [02.11.17 21:10]

Yes, we are still working on the debit card so we don't have precise features to talk about, but we will have deals with important financial institutions in order to convert fiat currencies

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:12]

the Card implementation is still away on the roadmap, but the idea will be to make it the most user friendly possible and thanks to the decentralized exchange the connection with the token will be bi-directional. Still, it will need to be decided as Amelia said

Mr. A, [02.11.17 21:13]

Any fears the ERC 20 Boom will bust and you will lose somehow the Business Model?

Mr. B, [02.11.17 21:13]

Will the card be a CHF card?

That's still missing on the market

[Eidoo] Amelia Tomasicchio, [02.11.17 21:14]

No, we are not afraid about this. A part of the ETH we earned from the sale has been changed into fiat because our costs have to be paid in fiat.

But we also pay marketing and other costs in crypto too.

Volatility is not a problem

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:15]

[In reply to Mr. A]

this is a forecast problem, but personally I think we have seen just the dawn of the ERC20 adn ERC223

[Eidoo] Amelia Tomasicchio, [02.11.17 21:15]

[In reply to Mr. B]

Yes, it will be in CHF too

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:15]

[In reply to Mr. B]

this is still under discussion and unfortunately we are not able to provide a definite answer

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:15]

[In reply to [Eidoo] Amelia Tomasicchio]

ops....Thanks Amelia

[Eidoo] Amelia Tomasicchio, [02.11.17 21:16]

It is not a definite answer but we are working on it

Mr. A, [02.11.17 21:16]

Would be really awesome!

Mr. A, [02.11.17 21:17]

Are you satisfied with the ICO results. Can you give use a little meat around the bone how many investors you got and what amount?

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:17]

remember that any information or suggestions you guys have, you can send an email to support\@eidoo.io and we will discuss them during the update meetings

[Eidoo] Amelia Tomasicchio, [02.11.17 21:17]

Yes. We want to provide users with a most complete tool ever

[Eidoo] Amelia Tomasicchio, [02.11.17 21:18]

[In reply to Mr. A]

Yes, we are satisfied because the unsold tokens were burned. We had something about 3k investors

[Eidoo] Amelia Tomasicchio, [02.11.17 21:18]

10 mln tokens

Mr. A, [02.11.17 21:19]

10 mln Tokens are ?

[Eidoo] Amelia Tomasicchio, [02.11.17 21:19]

At that time it was something about \$23 mln

Mr. A, [02.11.17 21:19]

Wow, this really awesome. Great result in difficult times

Mr. A, [02.11.17 21:19]

Does the token bring you any benefit for the platform?

[Eidoo] Amelia Tomasicchio, [02.11.17 21:19]

[In reply to Mr. A]

https://eidoo.io/token-sale/

[Eidoo] Amelia Tomasicchio, [02.11.17 21:20]

[In reply to Mr. A]

Sure. You won't be able to use services without EDO to pay fees

Mr. B, [02.11.17 21:21]

Do you plan to add Bitcoin multi-sig?

Mr. A, [02.11.17 21:21]

Ah I see. So Tokens are needed to operate

[Eidoo] Amelia Tomasicchio, [02.11.17 21:21]

The Bitcoin wallet is still under discussion so I cannot reveal anything right now

[Eidoo] Amelia Tomasicchio, [02.11.17 21:21]

[In reply to Mr. A]

To pay fees, yes

Mr. B, [02.11.17 21:21]

Multi-sig with CHF Credit Card would be very good for the Bitcoin Associations activities😄

Mr. A, [02.11.17 21:21]

What will you do with this tokens you get?

Mr. A, [02.11.17 21:21]

Burning or ?

Mr. A, [02.11.17 21:22]

Is there any inflation?

[Eidoo] Amelia Tomasicchio, [02.11.17 21:22]

[In reply to Mr. A]

50% of tokens earned because of the fees will be burned

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:22]

[In reply to Mr. B]

send me your idea to support\@eidoo.io and will bring it on to the Senior management

Mr. C, [02.11.17 21:23]

Do I then need to pay both EDO fees and gas ?

[Eidoo] Amelia Tomasicchio, [02.11.17 21:23]

[In reply to Mr. C]

Fees will be paid with EDO only.

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:24]

at the moment you only need ETH to pay gas, but later on you will probably need EDO to use the newer features

Mr. A, [02.11.17 21:25]

Where is Eidoo domiciled? Zug?

[Eidoo] Amelia Tomasicchio, [02.11.17 21:25]

[In reply to Mr. A]

Chiasso

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:25]

Chiasso, Tessin area

[Eidoo] Amelia Tomasicchio, [02.11.17 21:26]

We are in the CryptoPolis area 😊

Mr. A, [02.11.17 21:26]

The exchange you have in mind will be working like Ether Delta?

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:27]

as for now, it will probably be much better and much easier to use, as for the wallet, but I can't say more on this matter

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:27]

ehehehhehe

[Eidoo] Amelia Tomasicchio, [02.11.17 21:27]

[In reply to Mr. A]

No. 1) it will be more user-friendly;

2) Cheaper fees (this is one of the main goals);

3) transactions will be based on atomic swaps

Mr. B, [02.11.17 21:28]

Is BHB Network already working on the Bitcoin wallet?

Or someone else?

[Eidoo] Amelia Tomasicchio, [02.11.17 21:28]

More differences can be found by reading here: https://medium.com/eidoo/why-we-need-trustless-services-the-eidoo-roadmap-to-decentralization-65a5e80415d4

[Eidoo] Amelia Tomasicchio, [02.11.17 21:28]

[In reply to Mr. B]

The website says everything we can reveal at this point 😊

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:29]

there is still much to discuss, but the road ahead is planned and the engine is running, if you get what I mean 😉

[Eidoo] Amelia Tomasicchio, [02.11.17 21:29]

The Bitcoin part is still under discussion, so you should only refer to website and whitepaper

Mr. A, [02.11.17 21:33]

Other questions?

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:34]

the app is so easy to use that people are happy with this and wait for our future work.....😂😂😂

Mr. D, [02.11.17 21:35]

Did you intentionally design the application to use the token, or did you shoe-horn it into your design for legal reasons?

[Eidoo] Amelia Tomasicchio, [02.11.17 21:35]

[In reply to Mr. D]

It is a win to win design. Both the answers are correct

Mr. A, [02.11.17 21:41]

No further questions from the audience?

Mr. A, [02.11.17 21:44]

So many thanks for the questions and attention! Great you have been here both! Wish you success with Eidoo and we are looking forward to the first CHF-Token-Creditcard 😉

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:44]

thanks very much, let me remind everybody that for any information, suggestion or support request we are happy to receive email at Support\@eidoo.io

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:45]

thanks Mr. A for this session, have a great evening

[Eidoo] Amelia Tomasicchio, [02.11.17 21:46]

Thank you

Mr. A, [02.11.17 21:46]

Thanks, it was a pleasure! Wish you a great evening!

[Eidoo] Massimiliano Di Loreto, [02.11.17 21:47]

bye bye