CCfound AMA Recap
The session of AMA (Ask Me Anything) with Piotr Michalak was conducted on 1st July 2021 at 4:30 PM IST. (11 AM UTC)
AMA at @CrytoPlayers started with a brief introduction by Piotr Michalak. Here are some highlights of the AMA.
INTRODUCTION
Piotr Michalak | CEO
Thanks guys. So about me: I have been doing business for the past 15 years… Always in education. Mostly I have been leading entrepreneurs and built a following of 35.000 people in Poland. So information product industry is well known to me (ebooks, online courses etc.)
For the past few years I have moved on to build the largest cryptocurrency education company in Poland, EU. We have 50.000 subscribers, and hire 15 people, and this company does several million USD in revenue per year.
Stemming from that I have developed ccFOUND as something solving many current online problems, and also something that would help our community to earn money by being a part of the whole business.
Thus ccfound.com was born. Last year we did a private sale and earned 1.3M USD, hired close to 30 people and just now we have launched our crowdfunding ICO at ccfound.com
ADMIN ROUND
Jonty|Host
Could you explain what is ccFOUND in brief ?
Piotr Michalak | CEO
Sure. So in short we say that “ccFOUND.com is the Google Killer”… that’s a strong claim and we say it because ccFOUND will be like a search engine, allowing you to search other peoples MINDS for what you need. When you look closely, it will be a platform allowing everyone in the community to earn money by holding FOUND coins and earning daily TOKENS from all the transactions made on the platform. What transactions: ccFOUND.com will also create the biggest online knowledge and wisdom marketplace. Thus, allowing to sell ebooks, courses, closed groups, advice etc. All of this has been designed to create a strong community with a great business model helping every market participant.
Google planned to organise the world's information… We plan to organise the worlds knowledge and wisdom. That’s a next-level solution.
Jonty|Host
Is there any competitors of ccFOUND in blockchain ?
Piotr Michalak | CEO
Well, there are several social media projects in blockchain, and we have analysed them and found that they are doing a few things wrong.
First of all, they mostly focus on building like a decentralised Medium, decentralised Facebook, Twitter, or anything. We need to build decentralised something completely new and better! That’s what we believe and create NEW value. Secondly, they focus on wide problems like censorship etc. Of course, that is great, but it’s not censorship that will make you move your attention from Facebook to a new service, is it…?
We need something much better!
That’s why ccFOUND.com focuses on specific target groups of people searching for information and people trying to help others online…
Then we focus on their real needs, taken from my 15y experience with working in this industry… Then we focus on investment topics first, and plan to move to medicine, law, economics, business and another topic gradually…
That’s how you grow social media. Many projects seem to not be aware of that. However in the end we don’t have a strong close real competitor. No one in the world currently solves the problem of information chaos as we do: while merging the two realities of “build a community here” and “monetise your content here” at the same time like ccFOUND.com does.
Yes. I have been observing this for years and we want to bring a bit of the original internet back. The internet was full of helpful content and communities where meaningful answers were appreciated. This is still out there, just defragmented and chaotic now. We will bring a bit of orderliness to how the internet manages communication.
Jonty|Host
Are you working on alternative to Google but on blockchain?
Piotr Michalak | CEO
We like to compare ourselves to Google because we solve a similar problem. They organise information. We organise knowledge and wisdom. However, knowledge and wisdom are VERY different from dry information. It’s like asking: “What should I do with my money in my situation?”
Versus asking:
“What is Bitcoin”
Google will answer the last answer, but will FAIL at the first one, right?
So we like to say: “search the MINDS of other people”
Or we say that “Google connects you to the servers. ccFOUND.com connects you with people”
It will be more similar to a question and answer website then, but with many points of difference. Helping with the process of asking, organizing the questions in a better way, organizing the answers, giving people reputation points and decentralising as a DAO.
a₿hisΞk | CryptoPlayers:
So the search results will be provided by the people itself? What’s that?
Ccfound will also store its info on servers, right?
Piotr Michalak | CEO
Yes, because Google or AI algorithms CAN’T ADVISE you or anybody 🙂
It’s only people that can help you with your specific problems.
And we help find the help within the community And organize it for future users to find too. In the beginning, yes, but it will be also decentralised in the future.
a₿hisΞk | CryptoPlayers:
Quite unique concept 😨
Very Eager to see the actual product, when it’s gonna release ?
Piotr Michalak | CEO
We even had MVP ready last year but closed and redesigned it. Plan to re-launch as an open beta between Q3 and Q4 this year!
a₿hisΞk | CryptoPlayers:
Great,
I see some sale is going on the official website, could you explain that ?
Piotr Michalak | CEO
Yes, currently on ccFOUND.com it is just our crowdfunding website with ongoing ICO — 9 months of daily auctions.
The actual ICO model is similar to what EOS did and earned $4B (allegedly:))
So we model the best guys out there But made a few things better.
For example, you don’t have to use ETH for FOUND coin purchases
You can use any currency on the platform (after registering), and you can use deposits. So to sum this up, our ICO has just started And people who invest now have a huge opportunity. They will earn more airdrops than people who enter last 🙂.
a₿hisΞk | CryptoPlayers:
Cool. So the price will be same everyday, or it’ll increase on daily auctions ?
Piotr Michalak | CEO
So regarding auctions, they work like this:
The nominal FOUND coin price is 5 cents (0,05 USD)
This is the minimum You can’t buy cheaper than this
That helps hold the price long term (EOS had no minimum — a mistake, I would say) So every day we have a portion of coins for sale at the auction And let’s say you and 9 other people bid at the auction And you bid two times the sum than the others. Say, you bid $2000 and others bid $1000.
Then you will win 2x the FOUND coins than the other guys And the final price is calculated like that. The more bidders there are, the higher the price will get (the same method EOS used).
But thanks to the minimal nominal price of 5c per FOUND coin
If there are not enough buyers (bidders) for the day, then only some of the coins will be sold. So what do we do with the unsold ones?
50% are burned forever And 50% are airdropped to the past buyers!
So the sooner you get into it, the better for you, Because there always gonna be better and slower days — that’s just life — and some investors will earn more. Hope that is clear for you guys.
Jonty|Host
Can we get some information on the Tokenomics, please provide link if possible.
Piotr Michalak | CEO
So first of all, of course, everything is in the whitepaper, and if you have no time to read, there are a lot of illustrations to quickly grasp the concept:
Some illustrations are not there and I will highlight them now.
This is our first product:
A capability to (optionally) offer a reward for the best answer to your question.And how the FOUND coins are divided after that.
So in general, ccFOUND.com will be a huge knowledge and wisdom marketplace. Authors will be able to sell many information products.
And FOUND coins are a backbone of the community — used as a means for the community to earn TOKENS And for author commissions And for DAO treasury, so again -
- for community helpers, who for example manage the content, moderate, correct translations, or for IT tasks. So in general we build a very strong token that has an actual business model behind it.
Twitter Round -
Jonty|Host
As the first online space allowing creators to both build their community and monetize traffic in the same place. In what way that creator can monetize traffic while building their community?How will be the monetization takes place? How can the community interact with creators?
Piotr Michalak | CEO
So what we do is model how actual real-life communities work. When you have people interacting in person, notice this. You don’t typically go to someone you don’t know and say “buy this from me” 🙂 How the world works is that people help each other That’s how human communities were first created. By people somehow supporting each other Or at least showing more support than hate, right? So in human psychology, you have this thing: It’s called the “reciprocity rule” It means that if someone helped you several times, you are more inclined to reward them AFTERWARDS You begin to like them So we model this in ccFOUND.com the same way: Authors will answer questions. Because we like to help people if we know an answer to a question
natz® | Host
Here anything free for the backward or low income communities?
or any way for promoting the same to them?
Piotr Michalak | CEO
So if an author helped 1000 people, maybe 100–800 will upvote him. Maybe they will subscribe to him. And most importantly we will give him reputation points. Once he becomes a well-known helper in the community — a person with a Reputation — he can sell his products on the ccFOUND.com platform Then and only then! So you get high-quality products in the marketplace. Sold only by trusted people (helpful people) And others whom they have helped I Will be glad to buy from them, That’s just how psychology works and how communities are built But what is groundbreaking? There are currently little to no websites in the world allowing this!
You can help people on Facebook, Youtube, etc. — but you are allowed NO MONETISATION via selling your products, You can maybe show some ads
Or earn by showing other people ads. There is little to no marketplace
We are the first who merge these two realities.
Which is actually very natural to how communities work in real life. An expert may build his community on ccFOUND.com and later sell to them in the same place. Without moving people to other websites. Which is always hard. We are a game-changer for experts. Now they have to hire 5–15 people for online activities, With ccFOUND.com they will have to hire no one! Or maybe 1 assistant at most. In general, ccFOUND will allow people over the world to communicate — popping the language bubbles, above the nationalities and cultures. So wherever you are, If I ask a question in Polish or English. You will see this question in your native language. We plan to translate everything into every other language on the fly. Technology for this is out there, But no one is doing this! And you can answer in your language Even if you are in a poor country. If you are helpful, you will earn a reputation and be allowed to monetise your knowledge on ccFOUND.com.
natz® | Host
Nice concept there for sure, but education is vast and its so much needed and to have everything in one place is a hugeee task for sure, to have the downloadable contents on a blockchain, how much space maybe required for storing the info ? or its server based ?
Piotr Michalak | CEO
No, you don’t have to download the website to use it 🙂 We start on our own servers regarding the storage of knowledge. We will decentralise this in 1–2 years most probably. But the FOUND coin — that’s on the blockchain. Actually on Binance Smart Chain for now. We plan to start with just text communication because that’s what is easy to translate via machine learning and correct by the community. Translating videos and PDFs is a thing of the future, we will work on this for sure. What I dream of is also this:
That people can use the website to record their advice via a webcam Or just advise via audio But this is super hard to get translated So it doesn’t mix of our vision “above the nations and cultures” We still have to consider how to implement this, maybe only on local markets.
natz® | Host
Have you brought on board any educational expert or advsior or a school or college for this purpose?
Piotr Michalak | CEO
Sure we have onboard for example a law professor from a well known Polish university, HOWEVER…We are moving away from this 19th-century concept of EXPERT and ALL OTHER PEOPLE WHO KNOW NOTHING. So we no longer live in the world of experts. Notice that everybody knows something, Regarding crypto — do you as an expert have time to track all the projects? But still someone else may have more information. Maybe insiders knowledge, Maybe he knows someone in the project, Maybe he has a different point of view. So you can always learn from other people And other cultures, And that’s how we build ccFOUND.com That you will have access to many people. That you ask a question and… You don’t get an answer from just 1 expert, But you get 10 answers So you get 10 perspectives. Maybe better and worse ones You can choose the best And you can also merge them into one. So you create your own viewpoint. Actually that is how WISDOM is gained. Not only via gurus But from many perspectives. Giving you 3D vision From all sides. That’s why entrepreneurs have mastermind groups for example — if you have heard about it. Or that is why an athlete or entrepreneur should have many trainers/coaches or mentors.
Community Round -
Ross :
🌸Something really strong in the vision of ccfound is that the Past was about information, the Present is about knowledge and the Future is about wisdom. So my question is, what is the difference among knowledge, wisdom and information?
Piotr Michalak | CEO
1. Information is when you know something. For example, what is the weather today?
2. Knowledge is when you know what to do with your information. For example what to do with my fiancee if the weather is good or bad.
3. Wisdom is when you know why you do what you do with your information. For example, what do I want to achieve by going out with my fiancee when the weather is good (for example, build a stronger relationship, because it gives me happiness).In investments, knowing what ccFOUND is — that’s information. Knowing how it works and how will you earn money using FOUND coin — that may be knowledge. Understanding what your life plans are and how earning money with $FOUND fits your lifestyle — that may be wisdom. To attain wisdom, we have to ask more complicated questions than just typing simple words in Google. We need real-life advice from other people. Future belongs to people who are wise. Who look at things from many perspectives. Who think in a different way. Who are creative.ccFOUND.com will help you get advice on investments first, and on any other topic in the near future.
Emi 💌:
I did read that ccFOUND will translate all questions and answers into every other language — back and forth. Thus, it will become a place for worldwide wisdom sharing. How will you ensure translation quality? Can the members correct translations?
Piotr Michalak | CEO
Yes, exactly that. We know that machine learning translations are getting better every day. But they are imperfect still. How do we solve this? By allowing people to correct the translations. And other people to see if the corrections were all right. Thus, community members will earn reputation points… and maybe FOUND coins too, for doing these tasks.
We will create an algorithm most probably — it will help community members to go from the most popular translations first, to the least.
🍓Strawberry_0022🍓
Why did you go with ‘BSC’ blockchain, network and not some other?????,”
Piotr Michalak | CEO
We planned to go with Ethereum first but the transactions costs would kill us. Even BSC costs are a bit high for some things like for example offering just a simple $1 reward for a good answer. So… We went for BSC to still be on a very popular blockchain and have an easier time moving onto the Binance ecosystem (including exchange) in the future. That’s one thing. Then BSC has multiple times lower costs than ETH.
And when we sell FOUND coins during the crowdfunding right now… if someone wants to pay out just a few FOUND coins… we need a cheaper solution for FOUND coin claiming. BSC is OK for now!
Tulkan Tulkan:
Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
Piotr Michalak | CEO
Oh, I see I didn’t answer that before. So we have 2 000 000 000 FOUND coins minted. You can see them here:
https://bscscan.com/token/0x359318a353b53a0ca8847815a769d398e2777dd2?a=0x530b0036a306a5ae4641be3e5f98979522d3e741. Some of them have been claimed already, So the split is as follows 14.5% has been sold at the private sale For 1.3 million USD From our 270 investors in Poland. This was an exclusive for the community that has supported us along the years so far, Now we move to international market We also have many users from India now 5% will be sold to institutional investors now for 5 mln USD We have a special 4-person team for that
Very experienced, who know many VC investors 5% is our budget for marketing & team 20% goes to the initial project sponsor — the company that founded us close to two years and helped create ccFOUND.com About 5% will be left with the ccFOUND company And 50% is sold at the crowdfunding, so it goes to you guys!
🌼 Seoyun 서윤 ☃️:
ccFound aims to help provide information in the most natural way. But does the division of the database into separate thematic sections mean that any given information can have a separate value? Could you please explain which mechanism values information?
Piotr Michalak | CEO
So the value of today's information on the internet is measured by AI algorithms, right? Machine learning on social media shows you what grabs attention, like funny cats. We want to change it. Actually we don’t have to invent a new AI anymore Something really simple would suffice. What do you do if you like someone's post? You like it The more people like an answer to a question — the better the answer. Also, The more people like a question — the more people are interested in it So first, we will start with just sorting questions with upvotes. The same with answers under the questions. No more machine learning which even Facebook or quora creators don’t understand how it works anymore and is very manipulative We want to create order. A simple mechanism
That everyone understands. The result is a knowledge database with a table of contents: from the most popular questions to the least (so most advanced ones or obscure ones) In the future, we will maybe also sort by weighting the upvotes with staking or reputation that will weigh the upvote power. But we start simple first, so people will like it.
Asia Carrera Dipangkas tak tersisa:
Did you create any referral or airdrop programs for getting more users?
Piotr Michalak | CEO
Yes, we have a referral for people allowing a 10% commission! It is exclusive to our investors only. You need to register at ccfound.com in the top right corner. Go through KYC / AML. Invest in the project (the minimum is $100). Bid on the auctions. Then you can go to the referral program in the panel and use your link to refer your friends and earn a 10% commission on all their payments!
Please also follow our social media:
Twitter: https://twitter.com/ccFound2
Telegram: https://t.me/ccfchat
Facebook: https://www.facebook.com/ccFOUND1
That’s all…
AMA concluded at 6:20 PM IST. It was our pleasure to host AMA with CCfound team, quite informative & knowledgeable AMA it was.
