MEXC AMA RECAP - VAIOT (VAI)

By MEXC Global 09:00, 11 Apr 23 (UTC)

Guest: Pawel A

Host: Sen Ho

Introduction

Sen Ho: Today, we’re honored to have Pawel Andruszkiewicz, COO in our community to give us a more intuitive introduction to their unique project.
Pawel , would you like to say hello and introduce yourself? @APawelCOO

Pawel A: My name is Pawel Andruszkiewicz and I’m a COO at VAIOT since 2019. Little bit about my background: I’m a trained IT Project Manager with Infosec, Audit & Compliance, Transition and Transformation (T&T) and product development background. Holding PRINCE2 and AgilePM certifications. I come from the “traditional” business area where I managed multimillion projects for Atos, BNP Paribas, Royal Mail Group, Nomad Foods and Aviva as well as couple of startups. As a COO since 2019, I’ve managed and co-developed VAIOT Project from ground up, including a successful TGE with DAO Maker, token listings on KuCoin and Gate.io, product launches etc. etc. Recently I've became a President of Digital Assets Regulation Institute that we've launched in cooperation with KuCoin Labs.

Questions from Community:

Sen Ho: 1.  What is VAIOT? Can you share with us more in detail?

Pawel A: VAIOT is an AI, EU-regulated project that combines AI and Blockchain, developing a portfolio of blockchain-based AI Assistants for B2B, B2C, and C2C purposes to create new ways of digitally accessing services and securely concluding legal contracts. In comparison to some other AI projects, we were founded in 2018, built since then, and regulated in 2020, first listed in 2021...
Our solutions are built on top of Open AI’s GPT3 (and GPT4 integration coming), MS Luis, IBM Watson, Google’s AI features, and our own AI algorithms. VAIOT uses AI to allow wider adoption of blockchain technology through its AI Contract/Legal Assistant and set of technologies called Intelligent Contracts. We’ve cooperated with IBM for our first MVP version and partnered with Grant Thornton and DAO Maker...
In terms of history, as mentioned, the company was founded in 2018 when it went through its first pre-seed funding stage and when the team of founders was gathered. We then focused on building the foundation and receiving another seed funding in 2019. This allowed us to move into a joint development project with IBM to develop the MVP of our first AI Assistant and engage in a lengthy regulation process in Malta which just implemented its Virtual Financial Assets regulatory framework. We got officially regulated in September 2020 as the first company to do so in Malta (EU). We had our regulated token offering in February 2021 with DAO Maker, we then listed on Uniswap, KuCoin, and Gate.io and since then we’ve been delivering our AI Assistant according to our business line scheme with a couple of public beta testing rounds for our software and that’s how we’ve come to 2023 which is the most crucial year for us with a couple of product releases and other significant events...
VAIOT’s ultimate goal and a flagship solution is the AI Legal Assistant which enables users to negotiate deals with the support of an AI Assistant, create contracts to back up those deals and services; this includes both traditional contracts to be signed in paper or through digital signature as well as their smart contract representation on the blockchain; the AI Legal Assistant will be connected to a set of blockchain features based on Polygon blockchain.

Sen Ho: 2. What triggered you to launch VAIOT? What are some of the real-world problems/ pain points that VAIOT aims to solve?

Pawel A: The true inspiration behind the launch of VAIOT was a growing role of AI as a tool to automate various business-related tasks and processes back in 2018. At the same time the growing role of blockchain let us thinking about the integration and merger of those two ground-breaking technological trends. We thought of a solution where real-world problems are being solved with those two technologies. At that time we were closely looking at smart contracts as a piece of technology. We figured that blockchain required a tool to strengthen its adoption amog regular, non-developer users. AI Assistants and AI in general, in our opinion, were the tools the allow regular users to utilize benefits of blockchain technology. We took what’s best in both worlds and figured out a real-world problem, use-case to integrate AI and blockchain...
The closest one to us was a provision of legal services and contracts. All of us, get into deals, agreements, transactions every day. Most of us lack professional legal knowledge and skills, most of us lack developer skills to utilize blockchain technology. We figured that an AI Assistant, capable of being your easily approachable, quick and cheap alternative to a regular lawyer could be helpful to millions of people around the world. VAIOT AI Legal Assistant holds a knowledge of multiple law firms and dozen of legal professionals, it is available in your phone or in your computer and it provides affordable legal services while at the same time it enables you to utilize the benefits of blockchain technology without the necessity to hold developer skills as it creates smart contracts to back up your regular agreements. You can talk to AI Legal Assistant, negotiate a deal with another party, the assistant will create a legal agreement/contract to back up this negotiation (let’s say you want to sell a car or have some paint your apartment) and you can easily save the data on blockchain for undeniable confirmation. We allow regular people to get legal services cheaper, faster and 24/7 while increasing blockchain adoption and automating legal work in businesses thanks to AI.

Sen Ho: 3.  According to the project's roadmap- what are your most important next priorities?

Pawel A: A lot in stock this year and a lot already happend since January!
When 2023 began we said that it will be the most crucial year for VAIOT as we have several product launches, several exchange listings, couple of initiatives we launch jointly with partners. There is an article that explains what are goals are https://vaiotltd.medium.com/2023-the-most-important-year-for-vaiot-161b1f5d9e82 ...
In short, we’ve just launched our mainnet on Polygon that will grow with new functionalities this year. We’ll be launching our AI Contract/Legal Assistant mid this year. We’ve recently launched Giveaway Contracts functionality (more info on our youtube channel) that you can test at services.vaiot.ai. We’ve co-founded Digital Assets Regulation Institute with KuCoin Labs ... and to a add to that...
Right now we are focusing on delivering AI Legal Assistant and it’s various use-cases connected to Polygon-based blockchain; we will be launching a new use-case for this solution every quarter going forward just to make sure we present our users and investors with new product solutions every couple of months to attract new users and to present how capable our development team is. We’re looking for further top 10 CMC listings this year with a ultimate goal to list on Binance end of year or Q1 2024. To sum up, we’ll have lots of product launches and development this year, backed up by a further spread of coverage of VAI token on the market

Sen Ho: 4. What is the role of the $VAI token in VAIOT? And so, what about the TOKEN utility?
Pawel A: ok, couple of things to cover in that regard First of all VAI is a regulated Virtual Financial Asset - that brings uniqueness to this token. You can read more about this on our website www.vaiot.ai; the token itself is available on couple of Centralized and Decentralized Exchanges (check out https://coinmarketcap.com/currencies/vaiot/); we've also recently launched on Sushiswap VAI is a utility token used with our products. The token economy is set to support and incentivize the usage of VAIOT solutions by giving VAI Tokens proper utility, e.g., incentivizing users and community to utilize VAIOT products and rewarding them for buying goods and services through VAIOT solutions ...
We have a Payback Bonus system: after a purchase is completed by the user in one of VAIOT's products part of the transaction value is denominated to VAI Tokens, bought back from the free market, and delivered to the user's Payback Bonus Wallet that encourages the user to keep the token and utilize it for further purchases within VAIOT solutions making the services even more affordable ...
You can use VAI as a Payment method for our services which always brings some benefits in terms of the purchasing price. VAI holders and stakers will have certain benefits when using our solutions also as the access to certain perks and functionalities of the AI Assistant. There are also a couple of other mechanisms which I encourage you to read about in our Whitepaper but importantly we’ve just launched our Single Asset VAI Staking on Polygon last week with a decent APR so VAI holders on Polygon (and ethereum as well if they bridge) have a way to earn of their VAI holdings. Visit stake.vaiot.ai to check out our staking options.

Sen Ho: 5. Community is an important aspect of the basic steps of project development, so how do you motivate the community to take part in developing VAIOT? What benefits and interesting things does VAIOT have to offer the community?

Pawel A: Well we always take a user-centric approach to software development. This means we prioritize short-development loops/cycles and want to deliver smaller product packages/version quicker to obtain user/community feedback and amend the software to reflect users needs and requirements.
We work in an Agile Software Development methodology and we tend to issue new software releases every couple of weeks and months for a community/end-user beta testing..
since the begining of our development we already had a couple of big community beta testing campaigns where we incentivized users to provide us with bugs and development suggestions (work on testing the product)
every such campaign has a dedicated JIRA board for our community members/testers to report bugs and any ideas for future development they might have
we always get a Leaderboard online as well so our testers compete among each other for the top 3 or top 5 places on the leaderboard
those are always connected to a reward scheme for top testers so the community members are reward for the time they spent helping us improve our products
This provides us with products that are built having user requirements in mind; products that are quickly verified by users and community members and can be upgraded/ amended early in the development cycle
also if there are more significant decisions coming in for VAIOT, we tend to ask our community members through polls on what they'd like to see
all of this makes us sure that we build the project having the community at the center!

Free Asking Segment

Q1. @Tanikablanco My question 

I saw that you are putting forward a lot your affiliation with IBM (which makes sense). Are you an official partner of IBM or you’re just using their IBM Watson technology?

Pawel A: Hey Tanika! It's a valid question. We did cooperate closely with IBM and it's dev team early in the day. Our MVP for AI Legal Assistant was built via a joint development project with IBM Europe. We had our development teams working togheter to develop the MVP. So it is not just a use of IBM Watson technology it was an actual joint development project which led to setting up a strong foundation for our future development and strenghtend our dev team competences due to knowledge transfer. I encourage everyone to visit our youtube channel and watch the two videos from IBM conferences where me and IBM representatives talk about the project toghter.

Q2. Tell us about the three areas of business in which you plan to develop VAIOT. From the information that lies on the surface, we see the first line – AI SALES ASSISTANT. What are these, what are the other two areas and why do you advertise them little?I’d like to evaluate your business plan as a whole))

Pawel A: Hey Raquel, so first of all the business plan that you're taking about was created in 2020 as part of the regulatory requirements toghter with Grant Thonrton. It does cover three business lines. AI Sales and Customer Service Assistant, AI Aggregator and Broker and AI Legal Assistant. Those three business lines were built one at a time starting with the easiest one to develop - AI Sales and Customer Service Assistant. This is strictly a B2B solution where we offer the technology to businesses/clients that can then use it to cover their business processes. That was done and it is now in a commercial phase where we talk to clients about implementation. The uses of this ranges from KYC AI Assistant that we've been offering to one of the top exchanges or an AI Assistant for public transportation that we've been offering to one of the European capital cities. The AI Aggregator and Broker (BL 2 ) allows to help users get the best suitable offer from a range of products and services according to their needs. We've covered this as part of crypto insurance use-case. This tech is also ready and scheduled for market implementation. The 3rd business line is the AI Legal Assistant that we've covered earlier

Q3. Reading your website I noticed that VAIOT puts a lot of interest in the opinion of its users and motivates them to participate and contribute with ideas and constructive criticism. But how can I contact you to leave my comment about VAIOT? Is there any communication platform that VAIOT uses that provides me with technical support?

Pawel A: Hey! That's a good question. You can contact me or our team members through our main community channel; there is a feedback form as well that people can use to give us ideas and feedback. In terms of technical support we have a JIRA-based ticket system that allows users to fill in tickets and obtain support of any kind

Q4. What strategy will you implement to bring non-crypto-natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of your token?

Pawel A: Hey Ricarda, the best part about VAIOT is that it is combines both worlds as part of the services that it offers. Our Assistants can be implemented by traditional businesses to cover their internal and external processes. Our AI Legal Assistant was built having a non-crypto native user in mind as it allows regular people to get legal services and contracts and connects them to blockchain. As there is a payback bonus in VAI if you purchase services throguh our assistant it incentivzes non-crypto native users to get into crypto as they are already eaerning digital assets while getting a regular service from our assisstants. Our products have two faces and two sides and they address both regular users and crypto-native users. We solve real-life problems and offer real-world solutions so the onboarding of non-crypto users is as natural as possible. Remember that as a regulated company we operate a regular business as well and we are obliged to have offering for non-crpyto users as well. In terms of balancing the tech dev and token value dev we do a lot in terms of marketing and listings to spread VAI accross the market but in our opinion the best way to attract new holders and belivers is to deliver and promote the amazing technology we build.

Q5. According to the roadmap, what are your most important next priorities? Does your team have enough funds and strong community to achieve those milestones?

Pawel A: The beauty about being regulated is that they make sure your business plans allow you to have regular business revenue streams so you are not dependent on crypto market turbulances. To answer your question - VAIOT has enough funds to develop what is planned and develop it further over the years. We grow our community every day and each new product launch will only make it stronger. Remember that we are on the market since 2021 already so we are fairly mature for a crypto project. I've covered our most important priorities already but just to sum up: 1. AI Legal Assistant v1 launch mid this year 2. New AI Assistant use case every quater going forward 3. New mainnet functionalities being added this year 4. More top 10 CMC listings this year with a goal to list on binance end of year or Q1 2024 5. Commercal implementations of our tech for clients until the end of the year

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