BOLT Sri Lanka AMA Recap
Dear Community,
Thanks all for participating in our Telegram group AMA. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this article is for you.
The AMA was held in BOLT Sri Lanka Group on 14th Dec 2020 at 1:00 p.m UTC
AMA Guest
* Jamal Hassim(CEO & Co-founder)
* Christel Quek(Co-Founder & CCO)
AMA Happened into 3 Segments
- Segment 1:- Jamal and Christel gave a self-introduction and brief introduction about the project.
- Segment 2:- Introduction (BOLT team answered 5 most important questions which describe the project concept, latest achievements, and plans).
- Segment 3:- BOLT team answered community questions from telegram live chat.
Segment 1
Jamal : Hello our beloved BOLT.Global Community. Great to be here today. I am the CEO and joint founder of BOLT.Global with Christel.
The BOLT.Global ecosystem is all about rewarding content creators for sharing their content and our viewers for their engagement with the content that we host. The BOLT.Global Project utilizes the blockchain and our crypto to solve problems that the media industry is facing with regards to monetizing content. Christel and myself brought our joint past experiences together to start this Project Happy to answer any questions that you might have.
Christel : I am the chief commercial officer of BOLT and jointly founded BOLT with Jamal 3 years ago. I have enjoyed previous stints as Head of Content at Twitter. You can follow me @ladyxtel on Twitter. When I’m not working on BOLT, I do enjoy cooking, reading, and doing sports in my free time. BOLT is the result of a combined vision that Jamal and I had. We wanted users to be rewarded for the time they spend in the ecosystem. Hence our two main apps — BOLT+ which has various international and local live streams and BOLT X, our integrated wallet which is powered by the blockchain.
Segment 2
Q1: What technology stands behind BOLT, why it’s better?
Christel : Technology is technology, but if we use it properly for a good user experience, more people will use the service, and also listening to user feedback is very important for us. We also write and deploy clean code, do a lot of rigorous testing, and we release app updates almost every 2 weeks — it’s something we have always done from the start and not many companies do so (both crypto and non-crypto companies). Let’s face it, we can construct a beautiful car, but if our users do not know how to drive it, we would have failed.
Jamal : Technology is just one aspect of our business. The technology combined with the overall business proposition and the business are key to making BOLT.Global success. The huge differentiator for us is how we use the blockchain to underpin and disrupt the media space.
Q2: What is the current general update from BOLT?
Jamal : Well we have a number,
1. Growing number of eSports content streamers on BOLT+.
2. Presenting Dugout football content on the BOLT+ platform as club channels so that football fans can follow their respective clubs.
3. Search and tagging functions on BOLT+ go live in stages from the end of this week.
4. Launching BOLT+ with a number of Asian telcos in a number of Asian countries including Sri Lanka in Q1 2021.
5. Launching BOLT+ on HiSense tv’s in Asia-Pacific and the Middle East in December 2020.
Christel :
1. Implementing more DeFi features into BOLT X
2. Making BOLT X a true multi-blockchain experience
Q3: What are the decisions which BOLT has taken to increase the BOLT users in Sri Lanka?
Jamal : The following are our key strategies for Sri Lanka,
1. Working with a local Sri Lanka telco to introduce BOLT+ to their subscribers.
2. Utilizing social media and community channels to invite Sri Lankan content creators to host/stream their content on BOLT+ and to adopt the BOLT X Wallet. These content creators will then bring their followers onboard to BOLT+.
3. We will also be running programs to encourage and reward our community to invite their friends and families to BOLT+ and BOLT X.
Christel : The network effect in Sri Lanka.
Q4: In Sri Lanka, there so many cricket fans. Is there any plan to add more cricket channels to the BOLT+ app?
Jamal : Yes! We are discussing with the Sri Lanka Cricket Board about hosting the national team content on BOLT+. So stay tuned for announcements.
Q5: What are the major upcoming plans which BOLT going to kick-off?
Jamal : The main thing to look out for is the rollout of BOLT+ on HiSense TV’s in the Asia_Pacific region including Sri Lanka this month. We are also in discussions with other major tv manufacturers to carry the BOLT+ app. I believe that Christel also wrote about Zilswap going live in BOLT X very shortly. These are the major highlights for December 2020
Christel : Yes ! DeFi
Segment 3
Q1 : Many blockchain/cryptocurrency projects are not solving any real problem, they just exist to sell their tokens. What problems exactly is BOLT solving, and what solutions are you provide?
Jamal : We are using the blockchain and our crypto to increase efficiency, transparency, and sustainable scalability for the media platform business. Currently, no other project including YouTube solves this problem for content creators and viewers.
Q2 : We heard continued development to support the most integral developments in the Zilliqa ecosystem and is there any integrating ZilSwap into BOLT X?
Jamal : Yes we replied to this earlier. Zilswap will go live in BOLT X by this month.
Christel : ZIL is an established partner. In fact, we have more news soon please stay tuned
Q3 : Is this application available in low bandwidth devices? (Since it is a video streaming platform)
Jamal : Yes we use adaptive bitrate streaming to cope with an available bandwidth for users
Q4 : What is the reason for the new token swap? First, you have moved from ERC 20 to BEP 2 and again you swap to ERC 20? Any reason behind this move?
Jamal : We had moved to Bep2 from ERC20 for the benefit of our holders but after months of evaluation we found that the Binance Team wasn't really supporting the Bep2 format with sufficient development resources. At the same time, we have seen the Ethereum Team actually building their resources to support Projects, and hence we decided to move back to ERC to ensure that as we grow we can get the necessary blockchain development support that we require
Q5 : Community is a very important part of a new crypto project like BOLT. How many local communities do you have in non-English countries and how are you going to spread your project in those countries? Because we all know that BOLT Srilanka group is very helpful to Srilankan to learn about BOLT with rewards also.
Jamal : we already have 10 global communities that are active right now. in Q1 and Q2 2021 we intend to double and then triple the number of international BOLT.Global communities
Q6 : First of all I like to thanks both of you for joining Sri Lanka, Malith doing a great job. so I like to know currently BOLT project total supply is 995 million and market cap also $2,516,554 , so still BOLT are Listed on 2 major exchange . so my question is how will you increase your market cap and market availability with BOLT technology.
Jamal : For starters, we will be starting mass utility functions within BOLT+ and BOLT X using the BOLT Token. We will be incentivizing our Community to use the BOLT Token as opposed to cash. This way we will drive demand for the BOLT Token and increase its value.
Q7 : When can we see a cricket channel in the #BOLT+?
Jamal : I believe in Q1 or Q2 2021
Q8 :
When does staking start?
When making burn and for that buyback?
Do you have hope for Binance listing?
Kucoin, Bitmax, and DEX Why prices are different?
Does the team have a market maker? Are you considering listing on other major exchanges?
Jamal : We will update our plans in these areas in January 2021. And yes we are working on a number of things
Q9 : What is the main target on the bolt token
Jamal : To be utilized as the primary medium of exchange for services in the BOLT+ ecosystem and to have as many other businesses to adopt the BOLT X Wallet and the BOLT Token for their own communities
Q10 : Currently, the use of the BOLT app in the Sri Lankan community is growing exponentially … so how do you hope to do your promotional work in Sri Lanka in the future? And whether there is an opportunity for Sri Lankan enterprises to get involved.
Jamal : Yes we are already in discussion with a telco and content creators in SL
Q11 : Do you have a planned future such as buyback and burning to regulate the demand and supply of BOLT, so as to increase its intrinsic monetary values?
Jamal : Our approach is to increase the utility of the TOken with our own ecosystem first and you will see this utility being implemented in phases from January 2021
Q12 : What are BOLT’s major products and services? In the future, what are you going to develop? Or is it really an app for gaming?
Jamal : Our focus is on hosting more and more content creators from online and social on BOLT+; to use BOLT Play to create interactivity and engagement around the content and the BOLT X Wallet and BOLT Token to create utility and value within the ecosystem
Q13 : Most Bolt x wallet users can currently make deposits but are unable to withdraw. Explain this problem. What are the reasons for it to happen? What are the solutions for that?
Jamal : This shouldn't be a problem. Please highlight this specific issue to our admins if it occurs again
Q14 : As we know, every successful project has a few stories behind the scene, what’s the story behind BLOT success? Are there any special prototypes or upcoming BLOT updates that you want to show/share with us?
Jamal : Our admins will share a screen captured video to show the upcoming updates in BOLT+
Q15 : Can you name the partners who have joined the Blot project? and what is the advantage for them?
Jamal : Please read our resource materials and publications to follow. We have covered this point many times
Q16 : Do you have any plans to attract non-crypto investors to BOLT, and how? What are the actions to increase awareness around BOLT in non-crypto space?
Jamal : Firstly for more users to come and use the BOLT+ service for the content that it hosts. We then introduce the tokens as a reward system to these users for activities that they engage in within the BOLT+ app. The idea is to introduce blockchain invisibility so that people are gently onboarded to the blockchain and crypto in a manner that is easy for them to understand
Q17 : What is your long-term vision of the industry where the BOLT works? Are you afraid that one day there will be another project with more innovative technology that can replace BOLT?
Jamal : Fear is never an option for our Team. Let others fear us for what we are achieving
Q18 : At the moment, where you are focusing right now? building and developing products or getting customers and users, or partnerships? Could you share it?
Jamal : Most of our building is done but of course there always features and enhancements to come. So right now our main focus is growing our base of content creators and users, and also ramping up our revenue generation
Q19 : We can’t see big movement in BOLT price in the current situation. Do you have any plan to increase the demand for $BOLT and famous this project among the people?
Jamal : yes watch when our utility functions kick in from January 2021
Q20 : As a community-driven project, what do you expect from the BOLT community? How do you encourage community participation in the ecosystem?
Jamal : yes for sure we encourage and will reward our Community to help us build the BOLT.Global Project. All of you are key to our success!
Q21 : In the digital content industry, attracting users is very important, so what is the strategy for BOLT to develop the community?
Jamal : Sharing as much information as we can and as often as we can so that all of you can see what we see. Also rewarding our Community where necessary for helping us grow awareness and adoption
Q22 : What are the advantages compare to traditional media?
Jamal : We have greater transparency, efficiency, scalability, and sustainability because of our adoption of the blockchain and through Christel and my experience and knowledge
Q23 : What benefit are your companies getting from partnerships and what join projects are you going to work on? Will this partnership give rise to growth and success?
Jamal : These partnerships help us to rapidly scale the base of our users and create awareness of the BOLT.Global Project
Q24 : what is your major product on BOLT? What is going to be released as your product and how are you going to make it famous around the world and the investors? Because if the product is good enough, No crypto investors also will look into the project
Jamal : The Project is already attracting the interest of major media players and non-crypto investors
Q25 : Equity update, please?
Jamal : We have been answering and updating this subject at every AMA. We are already in the final stage of completion
Q26 : What is your vision of the future in the integration and interaction of BOLT with the rest of the digital economy? What partnerships are BOLT interested in today?
Jamal : The next stage of our growth and expansion is working with telcos and tv and mobile hardware manufacturers to widen adoption exponentially
Q27 : You are doing an AMA and giving rewards and also details about your project’s vision, technical details, upcoming events. Then my question is what are you expecting from the community on behalf of BOLT?
Jamal : We require our Community to help share awareness of the BOLT.Global Project with your friends and families. They can start by just enjoying the content on BOLT+ for starters.
Q28 : When will add bolt in Binance?
Jamal : We will share any new exchange listings after it happens and not before
Q29 : When will swap details be published. Full details of unswap, swapped Etc. Full comprehensive details. So when will sending the token to those who swap an end
Jamal : Post the swaps being exchanged after the swap closing. After we have verified the source of the Tokens sent for the swap
Jamal : pls do spread the word that BOLT+ can be viewed in Sri Lanka and you can watch some really great channels on the platform.
Our AMA participants can follow us on social media and experience BOLT+ features by downloading BOLT + and BOLT X ⚡️
Website: https://bolt.global/
Twitter: https://twitter.com/Bolt_Global
Join For BOLT main Chat: https://t.me/BoltGlobal
Join For BOLT Sri Lanka Chat: https://t.me/boltsrilanka
Join For BOLT Army Chat: https://t.me/BOLTarmy
Join For BOLT Announcement Chat: https://t.me/BoltGlobalAnnouncements
Downloads:
BOLT + App store: https://apps.apple.com/us/app/bolt/id1461711344
BOLT + Play store: https://play.google.com/store/apps/details?id=com.bolt.plus&hl=en
BOLT X App store: https://apps.apple.com/us/app/pegasus-wallet/id1485682208
BOLT X Play store: https://play.google.com/store/apps/details?id=com.bolt.pegasus&hl=en
Special thanks to Jamal and Christel for giving us the opportunity to host an Amazing AMA Session. We would also like to thanks Community manager Dave for joining AMA Session with us.
