Brady Luo on EveriToken’s token-customized public chain

0:01I'm ashon Addison from event chain for investment pitch media and fintech News Network and today on blockchain interviews we have Brady Lou co-founder and CEO of ever token Brady thank you so much for coming on the show welcome thank you it's my pleasure to be here awesome if you would just start a little a little bit with your background and how you got into the financial

0:24industry that'd be much appreciated oh sure so um I started uh engineering College actually and then I went to the states studied Finance as a master's degree um naturally I uh I I I find a um Finance job after graduation yeah that's a little bit about myself that's awesome and what got you into the cryptocurrency industry from

0:52Finance oh yeah sure uh as I mentioned because I have both engineering and um Finance background so it's much easier easier for me to understand both the technology and the economy sides of the blockchain right uh also I um I worked in financial industry after graduation that was uh 07 so I saw the whole process of financial crisis in' 08 the largest hits uh in in in the last decade

1:22so I see all this happening uh before and then uh I I I actually quit the um Finance job because I'm not typical 9 to5 person I would like to do some entrepreneurship so I actually did several uh companies uh before blockchain uh I sold two of them already uh but the but the problem I found my uh previous Venture is that it hits

1:49limitation hit the uh uh selling very quickly because it's very traditional business offline business so that's why I have to look for something uh scalable so so the uh I decided to um jump into the internet uh so I invest I and invest and a co-founded a mobile game company at my last Venture before blockchain but the problem is we had a very gr product

2:15uh but the traffics are controlled by the big giants like Alibaba tenson in China so we have to purchase the traffic from them but it's so expensive it's even more than than the uh the proceeds we get from from the uh from the game so we decided to shut it down that was the only um Venture I I really failed so I started to think where else that I can

2:39find a scalable business but also beyond the internet GI control so then I really started a lot about blockchain and uh as I mentioned before I had both uh academic and I have both engineering and finance background so it's easier for me to believe in uh this blockchain that can give us the new opportunity that's awesome thank you Brady so as you transition into now co-founding every

3:06token what can you tell us about every token and the problems that it's solving in the industry sure uh we started uh to uh build our platform since last December at that time uh the infrastructure meaning the public chains really are lacking as we all know uh Bitcoin ethereum they are they have very low performance uh CPS is like single or double digit it's not really for highly

3:34commercial use so for us every token is world's first uh token customized public chair so we are trying what we are trying to solve is that we we are trying to deal with tokens and token economy best so what we look at token economy basically today people all look at the coins the coins are pretty much the uh cryptocurrencies we look at the today and then contains uh little value which

4:03pretty much like 200 billion uh recent but recently job a lot as well uh it's so little compared to real human assets and equities and what we believe is that the real human Fortune will be tokenized so the value could be easily circulated from offchain to onchan so that's why we build a infrastructure to facilitate this happen so we have three key Innovations so first of all we have

4:30token based booking method as we all know Bitcoin using utxo to do an double spending and then etherum use is using account based bookkeeping method because they are platform of smart contract so the way smart contract interact with each other is through our accounts so for us we want to deal with tokens best natively so we have the token based booking method and we wrote a exam paper

4:57on this if you interested I can I can send it to later as well um and second of all the second Innovation would be we use safe contract to replace the traditional smart Contra layer smart Contra is flexible but so vulnerable as we all know happen so many vulnerabilities happened before so lots of millions and millions dollars were lost or stolen before because of this

5:21vulnerabilities so we use safe contract so external applications they use our core functions by API call Simple API Calles and is really good for normal internet Engineers tens of a million Engineers can use this not like only blockchain engineers in the past and third but not least everybody's talking about the uh Kil application so we believe the micro payment would be the

5:46upcoming K application so we have every pay as the micro payment solution that will facilitate this happen that's great thank you for such a great background so you're working on a more scalable custom token solution and as you mentioned there are a lot of problems with Bitcoin and ethereum and we all know that ethereum has scalability issues and cost of the gas

6:10to run so those are the problems in the industry how is every token doing with this solution how does your scalability look and is it easy to create tokens yeah of course so uh regarding the scalability there are two sides so when we look at the uh confirmation of a transaction it took like um more than um probably more than 20 or 30 minutes on bitcoin men Nets and then seven minutes

6:39on ethereum if you pay highest transaction fees so for us it's about less than two or three seconds if you use our micro Payment Solutions that's really pretty much like the aday we pay user experiences in China that's going to bring the massive adoption and then TBS transaction per second is another indicator that is crucial as well so Bitcoin is only it's only supporting

7:03like seven transactions per second and then ethereum 20 so for for us we have achieved 8,000 at at the end of October and we're going to push to 10,000 by the end of this year 10,000 translate to equivalent capability of Visa or rly pays dealing with normal days today so that's really highly commercially R platform um regarding the transaction

7:32fees I think one of the uh key issue for ethereum application is that in the past you have to use crypto ETS as the gas fee for end user so that's killing lots of people why it's high barer only like 25 million people they own ETS they own crypto the vast majority they couldn't use ethereum application not at all right they don't have the cryptos so for

8:00us we create a platform that any user you don't need to pay the gas fee on your own the business side is paying for all the gas fee so think about we are using a for example WhatsApp or telegram today we download for free we send message for free that's the internet user experience people get used to so all the applications based on every token popchain is offered the similar

8:22user experiences that's what we give to the market that's great sounds like you guys are making great progress already and you're nearing 10,000 transactions per second that's huge right so it's important to have a lot of applications on your blockchain so to have people using them in the real world so sure I understand that you guys have every pay application can you speak a little bit

8:45about every pay sure um as we mentioned uh every pay is the uh the first uh commercially ready U token payment uh protocol or a solution that uh people can issue isue their own tokens on every token pure and use every pay as the micro Payment Solutions so the beauty about every pay is not only the scalability we mentioned before it's also you can use any

9:13existing devices like a normal scanner you can see in any convenience store or like w mods or you can use any post machine NFC payment integrates our system so you only do software upgrades and use the existing devices they do crypto payment so that's another low entry barrier for using integrating our system and also people love to issue their own tokens as well for example we

9:40got a Malaysian partner uh they just SED a strategic partnership with us uh two months ago so they're going to issue their own stable point on every token publ and use every pay in their offline merces that's great so is it being used mainly in Asia right now or is it an international effort and how are you guys expanding through marketing strategy sure um public change is always

10:09a global it's a global thing it's it doesn't have to be Asia at all so um we just mentioned Malaysian partner because it's one of the largest partner we we we currently have but we have business partners not only in South Asia but also in Middle East in Africa uh we got one in South America as well and uh this week I'm flying to Australia to meet our

10:31business partner out there as well so but there are some developer countries probably it's even much harder for for us talk to the business partner because of the um regulations of there are much more stricks and uh the old money I mean the old like Financial system like the banks they they definitely are huge uh obstacle to to to the new crypto payment

10:56so that's why we started from more like the Emerging Markets first and then hopefully we we we enter the more developer countries that's great to see that you're expanding into the developing countries as well so what do you guys have coming up on the every token road map that we're going to see in the next six months sure sure we can look at the uh

11:20in couple of ways so technically we are going to push our CPS to 10,000 uh by the end of this year currently we have 8 ,000 and then uh we are going to also work on giving a more user friendly uh interface to the developers that are going to develop applications on every talken public chair and on the business side we are expanding uh more like a global base as I mentioned some of the

11:49key regions to you uh we we have to implement really although we signed our strategical partner agreement already but we have to go to the Merchant one by one uh do the software upgrade for them one by one and educate them how to use it and also give the incentiv to the end users for them to switch to like traditional field payment to crypto payment so that's the business that we

12:16have to do on the uh investor side we are definitely looking for more strategical money uh currently we're talking to some of the more strategical money as well uh so in the uh in in may we finished like the corn round as tokens so at that time we have lots of big names uh token method like finer capsule um but we are more looking for uh strategical uh investors more who has

12:45uh for example the fintech experiences and who has the fintech network that can integrate our system more easily that can help us expand more quickly into the market that's great sounds like you guys have a lot of stuff stuff on your plate so if people are looking to get involved with the community follow along with the progress of the road map and see this

13:08expansion in your main net what's the best way to get involved with every token or just to learn more sure I would always say uh our homepage every token.io would be the best way uh but of course definitely you going to see our all of our social media channels on our homepage as well uh Telegram R um Facebook uh everything out there YouTube yeah and also for

13:35developers we have a special uh design developer Channel as well that you can see on the homepage and uh for every page our K application we also have a special Channel as well we are republishing our page for for every pay because we have a lots of uh business activity going on uh using every pay so we're updating them on a daily basis that's great awesome uh well I'll leave

14:02the links to your Platforms in the description box below and that's all the time we have for now but I'm looking forward to speaking with you again as you get near to the 10,000 transactions per second Mark uh we'll do another follow-up interview see how every token has grown and how the project is flourishing so thank you Brady I really appreciate you taking the time to do

14:24this interview with us thank you thank you so much yeah I look forward to show our project running on spot to you I mean in Vancouver hopefully yes awesome thank you Brady until next time thank you bye-bye