Recap of the Mar 11th Telegram AMA

On Mar 11th the ITC team held a live AMA on Telegram and answered top questions from the community. For those who missed the live event, we have summarized those questions and answers for you below.

@chazlupo

Is itc wallet available for , windws, mobile (android,iphone)? Any news of upcoming partnerships ? Any updates regarding IoT Chain consensus node ? In future will token swap be automatic ? Will there be a time limit to do swap ? Will there be instructions ? Keep up the great work team , bright future ahead .

ITC wallet currently supports Android and Iphone. Desktop version can be used on Windows, Mac and Linux. In addition, we have also the Desktop APP, this is not same as our wallet, this app is more powerful than the wallet. Regarding the update of partners and nodes, those information will be shared through our official social media channels, including our telegram group and announcement channel. Token Swap will be carried out in the best way, we will do our ultimously best to minimize manual intervention. For the process, there will be always steps that needs to be taken by the users, such as creating an account for the target network. We will establish a time limit, but all users will get enough time to go through this process, we will provide a detailed description and steps wise guidance.

@KRYPTOtyp

Can you give us a more detailed explanation about the medical cold chain demo you are working on?

The demo that we are working on will authorize and verify the temperature control chip by the authoritative department. To explain it in further detail, it is used to record the real-time temperature of the carried medical products, simultaneously the temperature will be signed and uploaded in an encrypted way to the chain, in order to reach the needs of pharmaceutical and companies in the logistics sector. It will also serve relevant regulatory authorities and other parties for the storage and inspection of medical cold chain records.

@KRYPTOtyp

What are the major obstacles regarding the development you have to face these days?

At this point, blockchain is still in a very early stage, and there is still some resistance to the adoption and promotion within enterprises. Those companies have still some doubts about the fundamentals of blockchain technology. In addition, the mechanism related to the blockchain itself, is not very strong, and needs to be solved by horizontal, vertical or two-layer expansion.

@KRYPTOtyp

Do all the exchanges published on your website support the token swap?

Most of the exchanges listed on our website will support the token swap, any future information about token swap will be officially announced through our official channels, stay tuned.

@KRYPTOtyp

“Smart car” is a very aspiring and promising field for iot. A partnership with a car manufacturer would be a breakthrough to your business I guess. Are in talks with potential partners in this case?

Currently, we have contact and already communicated about some important aspects with several of China’s major automakers. Both parties have the intention to cooperate in the near future, we can’t disclose any information at this stage. We’ll let you know once we have finalized and formalized all details regarding this cooperation.

@KRYPTOtyp

How do you plan to get developers once your developer toolkit is out?

The developer toolkit will serve external developers, mainly because the beneficial features they will have with our toolkit, on the other hand, we have our established partners. The focus will also be settled on external developers who wants to be involved and participate in open source projects. In the latter case, we have a high prioritaziton on improving the documentation, this will increase publicity and help to get the right attention of developers.

@LVL_UP_I0T

Is there any possibility of ITC being able to one day operate/transact outside of the internet to further enhance its network security and censorship resistance? (For instance with direct satellite uplink; radio waves/airwaves or any other alternative frequency range outside of the common 2.4GHz to 5GHz range of the internet & the 800MHz/1900MHz range of cellphones)

In fact, from the perspective of blockchain nodes, the communication channel is transparent to most of the code. For higher-level communication protocols, there is no difference in the choice of which channel to use. So the answer is, of course, possible, but our main consideration relies on cost and efficiency.

@LVL_UP_I0T

Being that the first/main target of ITC are corporations; would there be a scenario where a majority of these corporations might prefer ITC to be centralized and if so, would ITC consider centralization?

Whether it is centralized or not is not the absolute essence or necessary condition of the blockchain. We only focus on whether there is real demand, if this is the case, we will focus on the needs of the industry and solve the actual problems for the industry.

@oldmanemu

Will the new regulations for blockchain firms operating in China introduced by the Cyberspace Administration of China (CAC) which come into force on Feb 15 affect IoT Chain?

It is a good thing for us to distinguish the IoT Chain from some typical scam projects. At this point, the team has actively carried out the registration. Due to this registration, we will be able to reflect and gain trust from any cooperative company.

@KRYPTOtyp

Please tell us your vision. How do you imagine IoT-Chain and the IoT industry in 3 years?

As many large companies started to increase their investment in the IoT industry, and the strategic layout similar to AIOT, we believe that the IoT industry will undergo major changes and growth within three years. Mainly in more personal consumerization, intelligence, and scale. Therefore, IoT Chain will follow closely the developments in the industry, we will settle our focus on the use of the Internet of Things to customers, and combine it with technologies such as Artificial Intelligence (AI).

@MauricioEM

Now that we are almost in mainnet what are the plans in terms of marketing and business partnerships in order to create value to the token and increase it current price?

We will start with some scenarios, such as cold chain logistics, make some practical cases, and we will expand it to other applications.

@EricSchneider

What are the highest priorities in the development process of the IoT Chain?

We have two major priorities regarding the development process, the first priority is the interest of our beloved ITC holders, the second priority is the value of ITC in business scenarios.

@evunen

Could you please give more details about the token swap? Will it be 1=1 or will it be x%=x% of maximum amount? (and what will be the new max amount of tokens)

In your example, we will have a 1=1 token swap. The total amount of ITC will remain the same, still 100 million.