As we approach the end of 2022, it's important to reflect on the past year and set our sights on the future of KardiaChain. What started as a small project in early 2019 has grown into a Mass Adoption Movement with over 500K members from all around the world. It is both timely and appropriate to hold an AMA with co-founder Mr. Huy Nguyen as we approach the end of 2022 and begin building for 2023.
We've assembled a recap of some of our favorite Ask Me Anything moments from the recent Mass Adoption Update with KardiaChain's CEO and co-founder to get a glimpse into the inner workings of the KardiaChain team and what they're focused on as we head into 2023.
Highlights of 2022
Mr. Nguyen began by discussing some of the highlights of 2022.
KardiaChain is making progress on their "Shoot for the Metaverse Roadmap" and has several notable achievements, including:
- ORTHO - Digital Fashion in the Metaverse
- Raramuri - Sports in the Metaverse
- DID- Decentralized Identity Management Platform
Him being a part of the Vietnam Blockchain Association paved the way for partnerships with enterprise brands and KardiaChain to flourish and created an opportunity to onboard more non-crypto entities into the space to officially establish KardiaChain's primary business model as Blockchain-as-a-Service (BaaS).
Mr. Huy proceeded to explain his role on the VBA and its importance. The VBA (Vietnam Blockchain Association) was launched with 4 major goals in mind:
- Providing education in blockchain
- Promoting the value and applications of blockchain and web3 products
- Working with the National Assembly to create a clear regulatory framework around blockchain
- Opening a gateway for international investment into blockchain in vietnam.
Onward to 2023 and Mass Adoption
Next, Mr. Nguyen spoke about mass adoption. He noted that it is a slow process that can take years to establish, but that 2022 served as a major first step.
He mentions that the focus for 2023 is to establish KardiaChain as a Blockchain-as-a-Service provider for the non-crypto industry.
Despite some major setbacks in 2022 within the industry, he believes that we are already seeing traditional businesses looking to increase their digital presence and apply blockchain technology to their operations.
Mr. Nguyen boasts that KardiaChain will be working to build templates and processes for businesses to implement large-scale blockchain solutions that surpass anything we’ve done the previous years.
Product-Users-Revenue —> This is the blockchain cycle our co-founder believes we should pursue. 2023 will be part of the final phase in building KardiaChain's products, and following that, will be ramping up efforts on user acquisition.
Q & A Portion
During the weeks before the AMA, the community was invited to ask questions for Mr. Huy Nguyen and here were the best ones to keep everyone updated:
Adrian C: How can we make Kardiachain known in South America? For economic reasons, here they are a must..... thank you
Mr. Huy: Hey Adrian, thanks for your presence and support from the LATAM market today.
With both being developing regions, SEA and LATAM have many similarities, which include:
- Lacking strong infrastructure
- Unclear regulation
- Need for education
Those similarities present opportunities for an emergent market much like SEA.
LATAM has been home to many of our longest-standing supporters and community managers.
Amara_Jun: What obstacles are blocking mass adoption of cryptocurrencies in KardiaChain?
Mr. Huy: Here at KardiaChain, blockchain tech can apply to other sectors outside cryptocurrency and token launches.
Truthfully, through our relationships and meetings throughout the year, we’ve witnessed several traditional corporations join the industry through other channels besides crypto tokens.
Our goal is to acquire and onboard non-crypto users.
Some of the obstacles facing us include the following:
- Misinformation and association of blockchain with scams, rug pulls, and short-term projects
- Slow adoption of technology and innovation in traditional companies
- Competition from large chains like BNB Chain, AVAX, Solana
We’re confident in our new direction and niche market, which doesn’t depend on macro conditions.
HknNFT: What do you think about Trust wallet integration? Will we be able to choose the Kardia chain directly from there anytime soon?
Mr. Huy: Yes, we do; we think it is important. Increased integration with wallets is undoubtedly a great idea and aligned with our Mass Adoption goal.
However, TrustWallet has a long and complicated procedure to be accepted for integration, and we are working on it closely. We’ll keep you updated!
Thanks for the suggestion!
Q4 & Q5
BuivCha and J3dokus: How is KardiaChain riding out this bearish market into the bullish market? And if we get a prolonged bear market, do you think the team can generate enough revenue to keep the KAI team going?
Mr. Huy: Ah, those are great questions that investors are really concerned about.
As mentioned, we’ve detached our model from relying on crypto tokenomics.
We’re continuing to build and cooperate with more businesses to increase revenue.
And yes, we’re confident we’ll ride through current market conditions.
Can you tell me a little about the news of the ecosystem and how your development team is working with alliances to offer more products and services and improve the use cases and adoption in web3?
Mr. Huy: There are 2 ways to build a blockchain ecosystem.
1 - Onboard non-crypto users through traditional business partners
This method offers 3 choices to onboard:
- Integrating their business into KardiaChain
- Creating a private chain for their operations
- Building dApps (on KardiaChain) that help their business operations
2 - Building the ecosystem through traditional Web3 means like NFT Applications or creating a DAO
Through Whydah, we’ve met several partners interested in entering Web3 through these means.
As shared earlier, Whydah has launched several projects (such as those described earlier in Raramuri, DID, and Ortho), that enhance daily aspects like sports, fashion, and entertainment.
The growing # of users through our apps indicates our progress.
Do you have a plan to increase social media engagement to draw new users, and increase KardiaChain’s exposure on a larger scale?
Mr. Huy: KardiaChain has long been active daily on its social channels, including Twitter, Telegram, and Facebook.
And with our new direction, we’ll likely add LinkedIn as another channel on which we’ll increase our presence, given that it’s a channel where high-level decision-makers from enterprise and traditional businesses engage.
Additionally, I also am active on my social. However, being the Vice President of the VBA, during the early incubation period, there are NDA terms & regulations I must respect…thus at times, I am restricted in what I can say.
But with our new direction and target audience, expect more educational pieces, objective commentary, and news serving this audience.
Oh, we’ve recently begun sending regular news and educational content in a few weekly newsletters to our email subscribers. Join here → https://hubs.la/Q01sxhJQ0
In light of the close ties between Kardiachain and the Vietnamese government, how is a project along those lines (for example a CBDC) progressing?
Mr. Huy: As the Vice President of the VBA, I always aim to promote blockchain technology solutions that can bring value to Vietnam.
Many of such solutions are representative of KardiaChain’s technology & expertise.
A good CBDC should be a scalable and secured L1 blockchain protocol, an area KardiaChain is well-versed.
But more than just a CBDC, blockchain tech has several government applications, including:
The Vietnamese Ministry of Education & Training applying blockchain in archiving national qualifications
Ministry of Public Health using blockchain to store medical records
Financial institutions to record banking transactions
Improving efficiency in certifying documents & records
All those applications require deep expertise in blockchain tech, and KardiaChain is in a great position to advocate and become the go-to builder for Government organizations.
Rajeeve: Is KardiaChain gearing toward the metaverse? And why?
Mr. Huy: As mentioned, our sister entity Whydah leads this front and uses KardiaChain’s platform and technology to develop this space.
We’re currently building different blockchain templates that will serve a variety of use cases, niches, and industries (including the Metaverse).
Once those are finished, it’ll be easier and more efficient for us to onboard users and organizations into the space.
Can you consider implementing maximum stake period after of lets say 1 year. After that period stake would be aborted. And you would need to restake. In this way you would always have only active members staking kai. This would prevent losing kai because in time there are going to be kai holders that lost private keys and don't have access to their wallets.
Mr. Huy: As we said, blockchain mass adoption is a long-term investment from both the team and investors. We truly appreciate and value all of our investors, but most crypto investors care primarily about making money quickly, which is not something we want to cater to. We care about building, true adoption, and long-term profit, not making quick money quickly and then jumping ship.
Over the years, we also learned that trying to appease investors is a losing battle. There is always a buyer and seller, and at any price point.
Our primary focus is Mass Adoption and onboarding non-crypto users to the space. And we're glad to have those aligned with this instead of focusing on discussions around token price.
We spent a lot of marketing budget for blockchain adoption for awareness. We never talk about price or ask people to buy KAI. But we hope true KAI holders and supporters will have the same direction.
Our strategy for achieving that mission will include specific marketing initiatives to target that audience. We'll see some of these plans begin in 2023.
Since it has been long since the last AMA with our co-founder the floor was opened up to live questions from the community.
You may find the start of the live questions here.
To wrap up, Nguyen shows his full commitment to KardiaChain and calls on everyone to stay strong and true to our vision and keep moving forward. By taking part in the AMA, Huy Nguyen gave us an in-depth look at what's coming from KardiaChain this 2023.
AMA (Ask Me Anything) has been gaining popularity over the past few years as a way for blockchain projects to connect with their communities and share important updates directly with token holders and potential investors. In this edition, we sat down with our co-founder Huy Nguyen to get an update on mass adoption and find out more about the future of KardiaChain. Questions from the community cover a range of topics, including development progress, partnerships, marketing strategy, and more. Nguyen provides detailed answers that give readers a better understanding of what KardiaChain is doing to achieve mass adoption.
With more than half a million users, KardiaChain is one of Southeast Asia's leading blockchain ecosystems. Aiming for Web3 Mass Adoption, KardiaChain aims to bring products that help onboard millions of users onto web3 & blockchain technology.
For more information, please visit https://kardiachain.io/