AMA RECAP : CRYPTO CHALLENGERS x IOEN
Venue : CRYPTO CHALLENGERS
Date : 10 NOV 2021
Time : 11:00 AM UTC.

Guest :Mike Gamble
They shared detailed information and his opinions about the project IOEN.

🔴 SEGMENT 1 INTRODUCTION

1. Could you Guys please provide a quick self-introduction for the community?

mg:
First a bit about me:

In 2015 I co-hosted the first blockchain meetup in Melbourne, Australia and brought our CTO Simon along. I was an advisor to the Asia Pacific blockchain conference in 2018. Later that year I discovered Holochain.

I’m an electrical engineer, mostly on national telecommunications networks, with the past three years in cyber security. Before that, robotics and autonomous vehicles, plus founded startups in sports electronics

Simon has over 10 years of experience working with leading Australian banks, including as the joint lead for blockchain technology and strategy for the National Australian Bank. He is a co-founder of the Global Impact Fintech ThinkTank (GIFT) that operates in 68 countries.

Our CEO Dr Adam Bumpus has worked in clean energy innovation and carbon finance for 20 years including with the UN and the World Bank. He has a PhD from Oxford in this area, and is a regular expert on a popular nightly national news programme here in Australia.

We really do have a fantastic team! I’d love to mention them all, but please visit ioen.tech and check out our About page.

We can talk about the project itself shortly

2.Can you briefly introduce the project IOEN what are some of utlities of $IOEN ? How do you think you stand out among the competitors if there are any?

mg:
We are quite unique in that we are a hybrid of two technologies: blockchain at the macro level, and Holochain at the microgrid level.

Holochain is not a blockchain. For example, it is not a token, it is a crypto accounting credit system. It’s not mined and doesn’t require consensus.

We have an article on the differences on our Medium page accessible via the Blog menu on ioen.tech.

It is the Holochain level that is very different, since it is agent-based.

Our agents follow a few simple rules, but combine to be very powerful in using and directing energy across a street or a suburb.

This is in fact “biomimicry”, imitating Nature. Think of a bee doing simple things, but combining with other bees to create a complex beehive.

We have a list of innovations, which will be a Medium article itself.

I'll just touch on a couple..

We have a creation of what we call “microDAOs”.. The rules of the game for each microgrid.

These can be tailored to each one, and IOEN will support a growing list of templates to choose from..

We are a world first in combining energy, DeFi, and NFTs.. announcement coming in the next week.

We are very conscious of using tokens to represent value in the energy economy we are building.

In 2018 we had planned to have a token tied to kWh (kilowatt-hours), but have since pictured a whole ecosystem, as described in the third phase of our roadmap.

Our mission is inexpensive, reliable, renewable energy for all. We want to change energy the way bitcoin made people ask "what is money, really"..

I could go on but instead I'll say

3. Can you share the achievements the team has made so far ? what are the major achievement target IOEN is yet to achieve . If possible also share your roadmap.

mg:
It is changing daily 🙂

(our achievements, not the roadmap )

For example..

Not directly our achievement but we woke up this morning and found an article on nasdaq.com listing us with six other coins https://www.nasdaq.com/articles/the-7-best-cryptos-to-buy-to-make-you-a-millionaire-2021-10-19!

We are quite proud to be partnered with an organisation that has delivered our technology already, to real people in real homes: our first integrator, RedGrid in Australia.

RedGrid has developed the “Powers App”, which uses inexpensive smart plugs, available for $10 at retail and grocery stores.

It is used to tell users when the national grid is using the most renewable energy, and it can control air conditioners to save energy but maintain comfort levels.

Users are incentivised through a points system provided by the Holochain technology. .. Described by the microDAO

RedGrid also works with universities in transactive energy markets and embedding the agents in IoT devices around campuses.

The company has worked with two organisations that have won UN awards, Australia’s largest university who won for NetZero at COP21, and a company in Bangladesh. There are more announcements with universities across the country coming soon.

That's some of what is happening.. let's talk a bit about our roadmap.

And since I can, here it is in picture form:

As you can see it breaks down into three phases:
Phase One: Establishment
Phase Two: Bootstrapping the Network
Phase Three: IOEN Ecosystem Services

At each step we are considering the tech, business development, and growing the community. Each step provides incentives to attract new participants.

The first phase builds the treasury, and we offer staking and very good % APY to attract new backers

The second builds the network and microgrids; and the third is a set of services to create a full world energy economy.

For example, if any of you are a software developer who does great data visualisation, you can sell worldwide to make energy easier to understand.

We will establish an app store for energy!

4) Could you share a bit about security and also what benefits you provide to incentives user’s choosing your platform?

mg:
Ok, two questions, and I think this may be the first time we have talked about security in an AMA..

For security, like everything with us, you need to consider the two halves, the blockchain/macro level and the Holochain/microgrid level.

Our blockchain smart contracts have been audited three times, by Hacken in Estonia and Deus in South Africa. Certificates are available from our website.

Holochain is fully distributed and has some interesting characteristics for protection. I’ve written a cyber security white paper on it that we will release in the coming months.

Remember, it acts like Nature, so if one ant dies it doesn’t take the whole anthill down with it.

We have done really interesting simulations of a power transformer failing, and all the houses on the street coming to the rescue

If there is a bad actor, the other agents can notice the hash on either the code OR the data is wrong and tell the others, quickly, like white blood cells.

It is so cool!

Ok second question on incentives...

I’ve touched on what will keep people interested at each phase of our roadmap but only briefly. For example at phase two we have "Proof of Participation" which we borrowed from the Helium project.. Please visit our Medium page where we have articles that expand on each phase, plus we look at the next six months in detail.

Following the IDO, we immediately launched our staking program, enabling token holders to earn high APY% and access exclusive IOEN benefits over the coming months. Staking and the best DeFi will continue as we progress.

We launched on DEXs, but we need CEXs for volume and world reach. Stay tuned, this is coming very very soon! (Big hint here 🙂 )

5.Whats the total supply of the token ? Could you share a detailed tokenomics of mainnet token’s supply distribution

mg:
Ok.. when fully vested there will be 1B tokens as a fixed supply.

We considered burn and mint, but we want to be a true utility token with value fixed to usefulness in the network. Burn and mint can decouple this and be manipulated.

We break down the figures on page 13 of our white paper available from our website.

We have raised $2.8M in private sales and initially (on the 15th of October) released 2%.

Another lot is coming both from other exchange listings and all up we have allocated 185M tokens for public sale.

Plus there will be more volume as the private funds vest over 12 months.

..or maybe they will HODL 🙂

As with other projects, we retained some tokens to get IOEN the organisation up and running, although we have staked our tokens for six months to demonstrate commitment and provide stability in the first part of the roadmap.

🔵 SEGMENT 3 TELEGRAM LIVE

Q1-Allen:
Could you please throw some light on your project name? What basically it represent and why you set this name?

mg:
Allen, let's start with you. IOEN (pronounced "i-on" like an electrical charge) stands for "the Internet of Energy Network". 4 years ago we thought about the real Internet and how it started in 1968 and the early 70s.

As it grew into the 80s, it won out over other ways to do protocols because people could submit ideas, and the community could adopt them.

We want to be like that.

If you come up with a better way to do some part of the energy economy, put it forth and people can use it. And it can coexist with other things.

We see that at all parts of our two level architecture!

Q2-METAVERSE - CENTURY TREND:
Q)Can you tell us about some of your partners and who you plan to collaborate with in the near future ?

mg:
Ok, let's talk about partnerships (and after this one I promise to go way back in those 2200 messages you just sent haha)

You can see some of our partners on our website if you scroll to the bottom, and also we have a bunch of articles on our Medium page (pick Blog from the home page)

A big one for us is Mashable

They are the news aggregator who want a green world, so pretty happy to have them on board.

Most of the others you will see are capital companies, and most, but not all, are in the crypto space.

We have a direct relationship with Polygon as well.

Coming in two days is a chat with Emergi, an interesting company out of the Netherlands who are operating electric vehicles in Liberia.

Q3-Venita Broadway:
NFTs is hot trending now, Do you have a play to have NFTs in your platform? If so, can you tell us the plans of your project in NFTs?

mg:
Ok, let's talk briefly about NFTs

Alex one of our co-founders is one of the main people in the NFT space.

We have an announcement coming in the next few days where we have a limited edition NFT showing a microgrid in Rwanda. It is pretty amazing.

More will follow!

Q4-Brandon Hernandez (No DM please):
Is your platform a global or is there any restriction to certain regions?

mg:
Let's talk about the world haha

Yeah in the energy space there are regulations that are at this point holding things up. It's because most countries (including Australia) have electrical grids that are the same for 150 years.. one way, from big power generators

These are changing though and they are moving to the 3-Ds of decarbonisation, decentralisation, and digitalisation

From a blockchain viewpoint

We have had a few groups of lawyers in the US and Singapore advising us, and we are clearly a utility token.

So we can't wait to break into markets like that!

Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?

mg:
We are most definitely global.

As you can tell I am providing countries who have contributed already, and we are only officially three weeks old!

We have a strong following in the Netherlands and Turkey, and now Indonesia and Vietnam.

In terms of markets, we have five microgrids we will announce.. one is the Liberian one I mentioned, another is in Bangladesh

and our CEO has strong contacts in the US.

Just thanks so much for coming along and letting me share our vision. I hope you felt some of our enthusiasm, and with COP26 and everything else, the time is right.

We hope you come with us and let's green up the world 🙂 Cheers

Please check our socials, starting with ioen.tech.

👉 https://t.me/IOEN_global

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