Yesterday, October 15th, Ricky Dodds hopped into the official ICON Project telegram chat to offer a rolling "Ask me Anything" for ICONists.
Unless you're looking at Telegram all day, you probably missed some of the topics discussed. In order to help get you caught up, below is a transcript of the questions and answers provided thus far. Ricky didn't indicate if there was an end point for this session, so additional answers may be added to this article as time goes on.
hello all, I'm going to be popping in this TG chat more often answering questions as they come (daily or every other day), in lieu of the former ama process. engagement could be improved from our side and the former ama process felt a little cold/corporate. so going fwd, ping me @doddric and i'll get back to you as soon as i can 👍
will decentralisation kick in if we dont have 1.6% votes on 22 p-reps?
each p-rep in the top 22 needs at least 1.6mm votes in order to decentralize. that's the current outline. we have 24 above 1.6mm and a handful of others at ~1.5mm
Hey Ricky. A lot of us remember the line and Samsung announcements and were super pumped about them. They’ve seen to have fallen off the map and none of the major players (Pantera) seem to be delegators. Anything you can share?
Hey hope all is well. I'll start w/ Pantera. I can't give specific details other than saying they are still involved with our project and supportive. On the Samsung partnership, that was an MoU with Kofia for chainID (of which iconloop was the tech lead). I think my-ID is largely supplanting chain-ID. for my-ID, iconloop has already onboarded some of the highest quality partners in SK (w/ some overlap of the prior consortiums). Afraid that's all the info I have on that. For Line, the JV we formed w/ them is still in tact and we're still acting as the tech lead. Currently, we're helping them improve their core engine as part of the JV and down the line we expect more direct impact w/ the ICON project. hope that helps
Thanks for dropping in @doddric - my question is “do you think ICX is the dominant platform of choice in South Korea? Why?”. There are numerous competitors today and back in the early days min and jh Kim were on a video interview stating they wanted to maintain dominance in this testbed region. I am interested to know if this ambition is being realised with terra, LG, Samsung, cosmos, klaytn pushing into the SK space. How is the icon project being received relative to these projects in your discussions with business partners? Since the line and Samsung partnerships there has been little in the way of big corporate partnerships and these two existing ones have been very quiet with Samsung not mentioning icx at all though mentioning numerous others it was integrating with. Is icon relevant to Samsung and line any more?
Sorry for the slow response. Tied up w/ a call.
I do think ‘loopchain’ (our core engine) is still the market leader in Korea and compares well against the platforms you mentioned. Right now, it’s the most “battle” tested blockchain amongst enterprises and governments domestically. My-ID is a good example. Seoul Standard is another.
That said, the “competitors” in SK all have some positives that shouldn’t go unnoticed. Terra is a payments story which is one of the simpler use-cases of blockchain (and easy to wrap your head around as a stakeholder). It’s also a public chain product. Klaytn is also interesting given the Kakao user-base and the fact that it supports solidity (but it’s not open source to my knowledge). The others have benefits as well.
Still, I think it’s too early to declare a winner (on both the enterprise and public blockchain side). We need to grow the pie, but also be more aggressive in gathering our share.
We need to deliver on BTP asap, our contribution framework and network enhancements. Additionally, I’m convinced we need a better offline presence. If we execute and do these things well, I think we’ll be in great shape domestically.
What do you mean by "offline presence"?
Hey John - Generally speaking, I think we need to increase the in-person interaction between our community and the foundation (and it’s contractors). It’s an important step we need to take in order to build a stronger culture going forward.
As you know, we’re nearing a point where we’ll have P-Reps located across a number of different geographies (incl. some of the notable blockchain hubs) and I think with that we need to organize in order to broaden our reach systematically (w/o wasting talent/resources).
Right now, we have a few initiatives like Mousebelt’s educational alliance and MLH. But these are mostly focused on US-based devs. Going forward, we should expand these sort of initiatives to other geographies.
In the same vein, other general meet-ups (blockchain or industry specific), educational programs re: ICON, hackathons etc. should also be aligned between P-Reps and the foundation in order to maximize impact.
Hi Ricky (@doddric)! Thanks a lot for taking the time for answering these questions!
Im not sure if this has been asked before but are you aware if there is significant interest from the Iconloop clients' side in connecting with Icon - are there any significant adoptions (aside from Seoul) coming soon? If yes or no, I have the same question - do you have approximation when? How would you describe the interest in the Icon chain?
Hi nblaze! Unfortunately, I'm not in the weeds on day-to-day ICONLOOP business and enterprise appetite so I'm probably not the right person. But I'll try to piece it together and give an opinion. Here are a cpl points:
Broof utilizes the public blockchain (and ICX). A number of ICONLOOP clients have already begun utilizing this service and I personally expect usage to grow. From what I hear, ICONLOOP is getting a lot of good shots on goal w/ broof amongst enterprises (and other institutions).
Additionally, Seoul Standard has utilized ICX. However, it's unclear how much more usage of the public chain we'll see near term. In my view, there are some interesting use cases for public chain under this program (particularly on timestamping)
Sadly I don't have a direct answer to your specific question of when will we see meaningful ICX usage from an ICONLOOP client.
The goal of interoperability between private and public chains remains a key focus for the ICON Network. The BTP spec is coming soon and hopefully with it, many more opportunities
would love hear your opinion about this question asked on reddit
Hi Mert - sorry for the delay. I dug up what I said in the past. Here it is "I don't think price risk will be a concern long term. As the space matures, tokens will become less volatile in my view and derivatives will become more and more prevalent. Therefore commodity risk (ICX for example) can be negated through hedging strategies similar to other industries (airlines, e&p companies hedging out oil exposure etc). Near term, it's something that we have work through on a case-by-case basis."
As far as the price, I can't really speculate other than to say I think ICON is well positioned in a growing space.
@doddric thank you for being here and answering our questions.
Would like to know if there's any concern on your part regarding the inflation rate we'll be seeing once decentralization hits.
No problem. Right now, I'm not too worried. I'm hopeful that p-reps will use good judgment in i_rep and w/ their ICX usage. That view could change, but I think for now we're good.
So, in your opinion, rank ~60 on cmc is well positioned for ICX in long-term view?
nope. i don't like it, it pisses me off. but i cant control it. i was talking more about our relationships, our technology and our community
hello again ricky (@doddric )
(1) are there any new dapps in the pipeline that we havent been made aware of yet? if so how many? I saw a infographic saying that 300 were being targeted over the next 3 years is this true?
(2) what is the biggest item on iconloop's agenda that is going to push demand for ICX token in the near term?
Hey Ben -
1) I believe Somesing will be launching on network fairly soon. Additionally, I know ICX Station will begin incubating more projects (building things in-house) in addition to accelerating others. Other p-reps will likely do the same. On the metric side, as a community, I think we should focus on quality over quality. I’d rather have a handful of user friendly and engaging applications vs. 300 apps w/ less than 10 DAUs. That’s not to say we shouldn’t fund some experiments, but I think there should be increased focus on product market fit.
2)Near term, I’d say more adoption of broof. But as I mentioned previously, I’d caveat that statement by saying I'm not involved in the day-to-day operations of ICONLOOP.
@doddric can you tell us more about your job, what is your actual role and responsibilities, what tasks you are working on? Before you mentioned that you’re on contract basis there, is that time limited contact?
Hey! I wear a lot of hats. From strategy/BD to governance design to communications, I’ve had a hand in a lot of things since joining. I’d say I’ve acted more as a utility player vs. filling one particular need.
That said, I’ve recently taken over external communications for an interim period so I’ll be focusing more effort here. I also manage our institutional accounts. Think exchanges, OTC providers, MM’s, wallets, institutional investors etc. So my day-to-day still varies quite a bit.
On your last question, yes, my contract is an annual contract. If it’s not renewed, then yes, it’s limited 😐