the Fabian bird plates in the Interview with BTC-ECHO: LUKSO, the ICO-market, and the Ethereum Ecosystem.
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car On 26. January 2019BTC$3.580,75 0.53%part Facebook Twitter LinkedIn xing mail
Fabian bird plate counts, without a doubt, the most famous heads in the Ethereum Space. So he has not developed as an Ethereum developer, just a crap Browser and the Ethereum Wallet, but also the ERC20-token standard with Vitalik Buterin created and thus the Foundation stone for today’s ICOs. For some time bird plate works together with his wife, Marjorie Hernández on the project LUKSO. The Blockchain-a platform to establish a new Standard in the fashion and lifestyle business. In addition to the Verification of the authenticity of the so-called digital twins will create new opportunities for the fashion industry and its consumers. What is it with the project LUKSO and how the market for ICOs wants to change, has told us, Fabian bird plates in the personal Interview.
The approach is to track by using a Blockchain, the supply chain is not new. What is LUKSO, to check the authenticity or the origin of clothing?
It is not primary to the Track of a supply chain. Our Blockchain is first and foremost for the Community, so the Designer, Instagram Influencer, etc. With LUKSO we offer a Blockchain infrastructure, which is designed specifically for this Vertical, so fashion and Lifestyle. That is to say: Both a luxury item manufacturers like Prada or Gucci can make use of our infrastructure as well as the Fashion bloggers or the end-user like you and me. This is precisely where the future of the future block chains. The Trend to industry – or context-specific block chains that are for a certain Community, the Mindset fits in with the Blockchain. To try to create a “Super-Master Blockchain”, on which all applications within the crypto-Economy to run, is not – at least for the time being – realistic. Such a Blockchain, it will not give within the next ten years, certainly.
A cornerstone of your Blockchain solution is the creation of Digital Twins. What’s up with that?
For Digital Twins to have the physical Version, so for example, a handbag, a digital Version of an Item or Collectable. The brand awareness is increasingly shaped in the virtual space, and marketed. So there is not only virtual Models, but also items of clothing and accessories that are only available digitally. The Gaming company Fortnite has done so, for example, with digital clothing and more profit than Amazon, for a total of about 3 billion US dollars. In particular, by the advent of Virtual Reality, it will be in the future, quite normal to have in addition to his physical wardrobe of a digital. Whether it’s for the own Instagram Account, Gaming, or virtual Business Meeting.
in addition to digital Items on the Blockchain is Digital Twins but also to make the creation of value for all stakeholders in a decentralized manner. So can be assigned, for example, a brand manufacturer Token to Influencers or loyal customers. Loyalty programs in the Form as we know it today, would become obsolete. Also as a Token of individual Brands that could be traded on Exchanges. The popularity of a certain collection increases, so can win the Digital Twin in the securitisation of a Token value. It is a new market be able to benefit from the manufacturer, as end-users.
you’re using LYX on a Utility Token. Now the trust in relation to Utility-Token-projects, quite in a sorry state after the Bursting of the ICO-bubble. Is created, your project is really so decentralized that it takes a Token to a Utility?
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LUKSO is based on a Blockchain, and Blockchain requires a Token. Without a native Token the hedge would have to be governed through Central Bodies, where we are again in the Web 2.0. To the beginning of the project to be quite as decentralized as Ethereum. Instead of Proof of Work, we will use a Proof-of-Stake Governance. This, in turn, is combined with a Proof of Authority of the Consensus algorithm. The fact that we are planning to adapt to Casper, so only Proof of Stake, such as in the case of Ethereum, will adapt the degree of decentralization to the Ethereum Blockchain.
I would not say that it is in LYX to a classic Utility Token, but rather to a crypto-currency. Although this Token is necessary to transfer in order to exploit the network value and Smart Contracts, but it is also a native Blockchain Token that is technically necessary. In contrast, a majority of the tokens have been issued to the ERC20-Standard, for which there was usually not a technical necessity.
LUKSO is built on the Ethereum Virtual Machine. How do you want to meet the Problem of lack of scalability?
We build on the Ethereum Virtual Machine (EVM), use the Ethereum Protocol. Nevertheless, it is a separate Blockchain, which will apply in addition to Caspar also Sharding for scaling, such as Ethereum,. The advantage of our Community, the Blockchain is that it takes the resources with other industries or Communities share.
Da ICOs, as the past has shown, still have the error, have you developed a new ICO-Standard that for the first time in LUKSO, the so-called reversible ICO, short RICO. What can we expect from this new Generation of ICOs?
In the former ICO-wave have collected some of the ICOs horrendous sums were in relation to the Business Case. But once invested, you had as an Investor has no possibility to come back to his deposits. With Rico, each Investor provides the capital only and leaves it to the project on time flow. With us, LUKSO, the in this case two years, in which any Investor transfers his capital piece by piece automatically to the project. As in the case of an Escrow, which belongs to no one, shall keep the provided Ether is safe in a Smart Contract. These are either at the disposal of the Investor or the project. This shift in real time, but in a predictable time frame. Thus, an increased investor protection, because each can decide when he is no longer on the project glaubt and if necessary parts of his provided Ether.
The Token of the passed parts he keeps, of course. So also, if a project fails, you can save a part of the capital. The investors, who remain to the end of it, are not forced to part dimensions, but out of Conviction of what is very much in the interest of the project. In order to prevent investors entering only at the end of the period, or are constantly in and out, time-based Discounts to be installed, give an early Investor benefits, and it motivate, not easily go out, if he plans to later go in.
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Theoretically, should increase due to the higher investor protection is also the probability of getting the permit, a (R)ICO, in Germany, approved by the BaFin. Your RICO is the first in Germany?
We have the sale with LYX at the Regulator to verify, and can thus proceed. This means, however, not at the same time, also in the Form of a RICO is even allowed. We will discuss in the next few months, with the Regulator. Since this is absolutely in the interest of investor protection, and we never get the right of disposal over the Ether, if you have not been allocated to us, I assume that the Regulator will decide positively. The entity that makes currently the Private Sale and, later, the RICO, is also converted into a Foundation-similar to the GmbH, in order to keep the money separate from the exporting entity.
What is your assessment for 2019? How will the crypto Economy this year?
2019 will be the year of technological development, where we are projects see create your Use Case to successfully implement. The fact that the Hype is over now, is much clearer, especially from a regulatory point of view. Projects such as LUKSO will bring with Real-World Use Cases, the Ecosystem is clearly to the front. Finally, the Blockchain technology has not changed basically, and is just as functional as before, so that it cycles too much of the market, or the crypto-rates affect. To many things are coming up now, been working for a long time. Be it meta-transactions (Public) Blockchain Identity and Reputation Systems, State Channels, Layer 2 Solutions, and so on. All of these technical innovations need time, to work in practice. In 2019 we will be able to reported visible applications. Also on the crypto market, I think that we have reached the valley.
so You wouldn’t say that between 95 and 99 percent of all ICOs and Token projects have failed or in a timely manner will fail?
Many of the projects had no proper Token Economy and were able to implement no technical value in your Token, Use Case, so some of you will say goodbye to your Token. But there are also plenty of truly decentralized projects in need of your Token. Furthermore, we must not forget the many newer projects that have not yet started at all, and development takes time. Such a negative assessment, I do not share.
This must, however, be between Services and Ecosystem differences. In 2017, many Service providers have made their ICO. Many of those will have a hard time, because the Token model, often makes no sense. The situation is different in the technologically sophisticated Ecosystem-platforms, which, if they are useful and variable, a good chance to be very large. Accordingly, the evaluation approaches are very different, which is not, however, have taken into account many of the investors.
