Erwin Werring and Nikola Stevanovic on Attrace’s referral network

0:01i'm ashton addison from eventchain for investmentpitch media in the crypto coin show and today on blockchain interviews we have irvine waring and nicolas tavanovich from a trace gentlemen welcome to the show and thank you for taking the time to be here today thank you a pleasure to be here thank you erwin i would love to kick it off with just a high-level overview and the focus

0:21of a trace in the referral networks that you're looking at building and some of those solutions that you're looking to inject into the blockchain industry yeah so uh just from the top level overview look um blockchain technology is moving towards you know far-reaching applications across our economy right besides using the technology of value and payments it also facilitates us to

0:42acquire decentralized tokenized assets etc now we all notice that with these assets come trading right you can sell the assets on the theory marketplace or buy an nft on binance what have you not now if you look at it from a holistic point of view we basically identified that this tokenized economy is missing an essential element and that is a decentralized trustless

1:08technology that incentivizes to promote an asset right it should be possible to earn a commission on a tokenized asset that has been sold or resold because of your promotional activity without you having to rely on any other party that might have a different interest and basically such a technological concept doesn't exist yet until now so yeah we have basically developed a

1:35decentralized referral layer that makes referrals possible for any asset on any blockchain that is the basic concept of a trace that's really interesting thank you erwin for that introduction and to just to dive a little bit more into you know these specific solutions there are a lot of referral networks in the traditional industries and from what i understand

1:56you know people are getting different cuts there's more middlemen are there other specific problems that the a trustless blockchain network is going to remove uh it we should look at it from a total different point of view it's a different concept if you look at the traditional space yeah there are many issues right around trust tracking transparency

2:18huge middleman fees uh entry barriers and last but definitely not least the the privacy issues but uh what we are now trying to uh to to to release them to the tokenized economy is a completely new concept that is completely trustless and decentralized so none of these issues will pop up anymore definitely and i it's really interesting to see that you're building a blockchain

2:45agnostic and trustless referral platform and it definitely is something that's needed um do you see you know this is obviously there's a gap in this market and there are a lot of problems in the traditional referral network platforms but is something that i believe will be a competitive space moving forward in the future do you see something uh like a

3:04competitive edge or competitive advantage uh for from a trace in terms of the technology that you're building in the way that you're approaching building a trustless referral network well i mean there will always be copycats but the truth of the matter is this is a completely new methodology and we we i i could say i could i could think i could use the word we invented it

3:29and we're the first to release this methodology to the market next week on the 22nd uh a trade referral network will be live and for everybody to use so we are definitely the first with the completely new concept of decentralized trustless referral tracking or in other words decentralized trustless promotion yeah first movers always will will have that advantage

3:54now i just want to jump a little bit into uh the actual functionality of the platform using the a trace network can you talk about what is the primary purpose or what kind of assets will be used for referrals i know nft sales will be is something that's really hot right now and that obviously would be a use case for referrals is that one of the primary use

4:15cases or any other kind of tokenized assets or digital assets most definitely i think nicola can answer that question because he's uh he's completely overwhelmed by by trying to integrate everything at the moment yeah i think uh the the logical starting point was the nfts because they are seeming to be the one of the first digital assets that resemble the real

4:42world but i think there is much more to it i think the referral of any tokenized asset on any blockchain is what we are looking to cover so that doesn't mean the nfts but we are also talking about the functional tokens itself um working with the different depths and trying to bring their referrals to their platform so we're talking about the general

5:06user referrals essentially incentivize more usage of the network yeah higher user conversion um as one of the examples but then we also we have a pretty big coverage within uh within the space of uh general decentralized uh exchanges so the taxes could be using um our referral network very much for the liquidity provision to incentivize the security provision we

5:33are also seeing um a need to um yeah do promotions on the ideos uh that are currently also being hot uh on the market as well and we're doing we are actually launching all of these use cases for um yeah for our own um for our own needs to demonstrate to the world that these are the use cases that okay we will use it ourselves but using network but it would be applicable

6:02for everybody else definitely great points nicola i believe uh ido's would obviously um help and that also makes me think about the centralized exchanges you know referral networks are a major part in what why some of the largest centralized exchanges are that large because there's especially in trading you can have large traders that can bring large followings so if you can apply

6:29that to decentralized exchanges without a middleman and receiving referral commissions that sounds like a major use case yeah definitely i think uh also what i think we're starting with a low hanging fruit on our part so that was also why we started with nfds but we are moving more into the space of uh the use cases that are less easy to reach and i think the final

6:57test will also be with the centralized uh exchanges i think what's one thing that is important that we would not compromise the decentralization in the trustless solution on our side so as long as the central exchanges are willing to work within the our model of decentralized trustless referral network we would be able to support but i think that will also

7:22come as one of the use cases that will follow the long hanging fruits definitely and moving into nfts as one of the first use cases uh when the network launches really soon here i was reading that you're actually building out an entire marketplace um is that can you talk more about the marketplace how that functions and who can use it yeah absolutely but i

7:46think it's uh really important to make a distinction between the marketplace and the referral marketplace uh because the marketplace that we are building is really for the referrals so everybody that wants to sell an nft and has an incentive from the sale of nft can actually post a nft referrals on our marketplace and that would be available for promotion

8:11for the promoters um to actually start actively promoting that as disabled assets so that is in a nutshell what we do and we are essentially building that three-part relationship between the seller of an nft or for that matter it could be a marketplace that has an interest of selling particular nfps uh a promoter that would actually spread the word about the sales of the nft

8:36and then also the buyer of the lft and we are modeling uh that three-party relationship in a fully decentralized manner by using our referral token which is uh minted on the chain which holds the all the information necessary to make a relationship between those these three parties and essentially verify the conversion by our very far ends definitely that's really great to know

9:02uh nicola and i i want to talk about the blockchain uh technologies i know it's multi-chain but you mentioned the a trace token there i'm curious inside of the marketplace and for the referral network can you talk about the functionality of the trace token attr is it required to be used in the marketplace is it also a governance token and how else does it function within the trace

9:24network sure so so first of all it's a it's it's a token that allows all the holders to actually use a network so it is a utility token but also a governance token uh utility in a sense that it needs to be used in order to participate in the network so certain network fees to make sure that the economics within the network are actually

9:50sold and then we create a healthy economy and the healthy incentives for all the participants to provide a service to the network so this is the this is one of the primary role and then the second is the governance which allows the token holders to actually determine the future of the network in terms of uh those same network fees that i was just mentioning but also um to be able

10:14to yeah decide on the on the future development this is something that we would like to introduce as part of the dao in future once we reach a broader decentralization of token but this is this is something that we are this is how we intend and this is how we envision via trace token to work of course there will be um staking of the token itself which which would allow the token

10:43holders to actually take part and provide more security to the uh verifier nodes uh and for that service uh also provides uh part of the fees coming from the network itself that's really great to know and i'm interested to hear a little bit more about the dao and and how you're looking at building that into more of a decentralized and community governed platform and i

11:07think that the community governance token is going to be uh integral for that but i also wanted to touch on the fact that a trace is a blockchain agnostic network and supposed to be one referral network that can handle multiple blockchains and as your first use case with nfts i know a lot of them are on the ethereum blockchain but there are quite a few on

11:26other blockchains and it does require you know a few steps to be able to connect multiple blockchains together throughout the network can you talk about the technologies and where you see a trace growing uh from ethereum out into an entire blockchain ecosystem yeah sure so our uh the network of verifier nodes is really not tied to any blockchain out there and this was

11:52actually part of our strategy to actually not bet on a winner um within the in the crypto ecosystem but actually to stay blockchain agnostic in that sense that's what we did we are able to support tokenized assets on any virtually on any public blockchain as the only thing that it takes is that our verifier nodes that are not again

12:20part of their not tied to any blockchain that they can observe the activity of tokens on any public blockchain and this is where in fact we are different from uh from a lot of network out there so essentially we are just standalone network that it's not really tied to any uh particular single network and that is kind of the that is that is

12:47why we keep on referring to as a blockchain agnostic that's great to know and uh you mentioned erwin mentioned at the beginning that a trace network is launching soon and you're going to be showcasing uh the product throughout your own launch uh can you give a snapshot into the next month in the coming months on what are the next major milestones for

13:09the the network launch and the first steps after that and getting the community involved and growing the platform yeah absolutely at the moment we already launched with one of our with what with our ideo uh with a trace ideal promotion where we are already engaging our community where they are able to promote um and actually provide a referral reward to their uh to their

13:38followers as well so this is something that we are launching right now it is live as we uh as we as we discuss it so again it's something which will we will be showcasing so that for example audio launchpads uh can consider this as a use case for their projects that are launching uh ideos of their platforms i think it would it will give them an opportunity to actually

14:04use and engage their community and other communities that are using it at the same time to promote the ideals so this is one of the one of the things that we are doing at the moment uh the next on our on our roadmap will be the liquidity provision use case uh because as we are we will be launching on a decentralized exchange we would also like to engage our community

14:26and give them an opportunity to actually promote the liquidity provision and for those that are actually participating in the liquidity provision also to provide a reward in our native token um all of that in service of the in the first case ideo launchpad and in the second case dex is a general use case that we can support

14:55outside of a trace of course it sounds great nicola i'm looking forward to both of those use cases and you know we we are running uh short on time but i would love to hear about the vision in the long term uh goals for a trace network now the platform is launching right now but can you talk about what you see as some of the key success factors to having widespread adoption and having

15:21this universal referral network that's blockchain agnostic actually being used by hundreds of thousands if not millions of people uh years to come and what that's going to take to get to that level yeah i think absolutely you mentioned the wide adoption of of the referral network will be absolutely the key of the success and this is why we are approaching it in

15:47a way that we are supporting different use cases we are starting uh with our own use cases that we need to engage our community and we also want to do it as a showcase to the rest so we will be rolling out a number of different use cases and really trying to have a wide coverage across industry and not really focus on a specific niche or a particular

16:13um part of the space and this is kind of one of the ways that we are thinking about it but i think the next level for us to scale would be to really start thinking more about the fundamental layer rather than introducing things to our ui i think this is this would be the next step for us and also start thinking of the contracts as something as promoters

16:36so this would be i think a way for us to um to really on that fundamental level um provide a really wide and generic coverage to the entire to the entire tokenized economy that will come in definitely i think that's a great approach and for the viewers that are looking to follow along with the trace token launch the network launch learn more about the referral network

16:59and get involved and start using it what's the best way for them to learn more and to get involved i think the best is to get into our social channels so to follow us a meeting we we do the announcements almost every every week with the new projects well with the new campaigns that we're rolling out and also the updates to our uh to our products uh as

17:25well as our telegram and discord channel so i would encourage them to find us there and to yeah to join yeah and to get a quick feel for how it would work in practice uh you should visit the marketplace the referral marketplace at market.trace.com sounds great irwin and nicola thank you so much i will leave the marketplace link and all the community links as well

17:50in the description box below for the viewers all the best with the upcoming launch of a trace network and let's follow up in the near future thank you so much for having us thanks a lot