Telegram Q&A #1 — 24/11/17
Can you tell us more about the current and future plans of LoMo?
We will publish the white paper next week and are currently forming a business relationship with another company. We have already launched multiple currency functions in the LoMoStar app, but with this new relationship we will also add a new currency.
Could you give us more details about the cooperation you are involved in?
The company we will cooperate with already has millions of users in China and mostly focusses on cultural and writer-related projects. Currently, they have more than 200,000 authors on their platform.
Do you think your marketing budget is enough to cover all your future plans (e.g. exchange costs, hiring foreign specialists etc.)?
Our company has a healthy financial position and we are fairly certain that it is enough to support our marketing efforts. We will also use our budget to participate in conferences and events all around the globe.
Are you going to integrate Augmented Reality (AR) features? And if so, does the current app functionality allow for it?
We have a well connected partner that we have a good relationship with, as their founder used to develop mining machines with our CEO. This enterprise is experienced in developing chips and advanced AR techniques. In the future, sooner or later, AR will be adopted in any location-based system (LBS) application. Inside our firm we are always talking about AR and we believe that when the AR techniques and implementation possibilities get improved we will certainly adopt it in LoMoStar.
Should we wait for some news for this weekend?
Updates will come this weekend and you can follow my Twitter @zoutaoji2015 to stay updated.
How will you protect LoMoCoin (LMC) investors and increase the interest of using LMC inside of the app, since you have also added other currencies such as Ethereum and Bitcoin?
A key feature of a currency is security and liquidity, which will also affect LMC. We will add more digital currencies in the future. Global users and transaction volume will be increased this way. Additionally, when you run a club and have a lot of guests invited. There will be social demand for every guest. Nevertheless, you as the host will almost always get prioritized in the long-term by all of these guests.
Will there be an age limit? Cryptocurrencies are being dealt with as digital assets or currency exchange operations, so how will you deal with this?
Applications need to have an age limit and some functionalities might have some restrictions. However, does this automatically mean that a currency should have an age limit? I do not think so. The dollar does not have an age limit, right?
Can you tell us about the F5 lab? How many full-time employees are there? Is it a subsidary of LoMoStar or is it an independent research lab? What are they working on now?
F5 Labs is a professional technology collaboration, and the technology we develop and share inside is more ‘professional’ and complex than that of the general programmer community. It will be focusing on B2B relationship initially.
How will you ensure exclusivity for LMC within the LoMoStar app? What will ensure the app will use LMC?
There is no doubt that many exclusive features will be implemented in the future within the app where you must use LoMoCoin to complete.
Can you explain what mini asset backed securities are and if they willbe implemented on the LoMoCoin blockchain?
Recently, there is a new term in China called “new retail.” It can be understood as retail based on autonomous trading, which includes many forms such as vending machines, virtual real estate, autonomous trading infrastructure, and the like. These new assets, due to the advancement of automation technology, will become a great investment asset class in the future and their profit model is very healthy and stable.
Are you going to start learning English :D?
Haha, I am learning, but it seems like I need a faster way of communiction through translation software.
How will iBeacon/IoT be implemented? Will it be implemented onto the LMC chain?
We are very interested and involved in the development of the Internet of Things. Our CEO next week will also visit the Lenovo Group training session as they are looking for solutions that is combining blockchain technology and the Internet of Things. I think everyone may have heard of the Lenovo Group, they acquired IBM personal computer business in the past.
What is your future plan to attract more investments?
From the scope of my responsibility, I am more concerned about the ecological construction of LoMoStar. Overall when it comes to marketing, it is something that money can solve. Moreover, we have always kept in touch with prominent exchanges and we have made some progress here. We will inform you when we are able to confirm more.
So the main focus is still China?
Our globalization process has just begun, we are evaluating the data to determine the choice of key markets, as well as the order of focus.
Do you really believe that China will allow cryptocurrencies to develop within the country? Keep in in mind that the video game ban was not lifted for around 14 years until this year.
There may be more internet cafes in China than anywhere in the world. China’s Internet cafes are pretty much a second home for many young Chinese people. China’s policy is very flexible, just like China’s socialist practices.
Are there any foreign specialists on your team?
We are putting a lot of considerations into our globalisation strategy. We are focusing on both the developed and emerging markets such as America, Europe, Japan and Korea. Meanwhile, we also want to expand into the Southeast Asian Market. We are hiring specialists around the world and we are looking for cooperation with local firms in our target countries. There are many experts on our team. There is a group of experts who are leaders in this research topic and may be ahead of the industry by two or three years. However, because it is in the research stage, I am not yet able to disclose it.
When will be the documentary be released and what will it be focusing on?
This is an industry documentary produced by a U.S. team. The companies covered in this documentary are the best companies in the industry and it is originally scheduled for release in December.
Will Lomostar continue communicating with our community?
Haha, of course, I think I am doing this right now :).
Zou: Now I have a question for all of you. Do you like airdrops? If so, pay attention to the official news in the following days. My time is up. It was good to see you all and we will see you again next week. Thank you everyone :)
Sirius: If you like to join our next Q&A sessions, please visit the official LoMo Telegram channel: https://t.me/lomocoin.
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