Stratis AMA with our CEO/Founder Chris Trew
We have prepared a read easy version of the AMA that took place on 16th December 2020 at 4pm UTC on Reddit.
Question 1: Can you please explain how would be the integration of STRAX with DeFi and what is the benefit for the investors?
Stratis InterFlux will see Cirrus become the hub for many different blockchains to communicate via. This will not only allow wSTRAX to be used on these other blockchains but also for a wrapped version of their native token to be utilised on the Cirrus chain in Defi use cases. The benefit to Token holders is adoption of InterFlux through users being able to move between these blockchains with little friction, which will also increase the usage of the STRAX token in Defi usecases.
Question 2: With an inflation rate of 10% each year the amount of STRAX in circulation will double at around 2027 what else other then masternodes lock up will increase demand the coming years.
There are a plethora of use-cases that can and would introduce lock-up of STRAX Tokens or tokens that are pegged to the STRAX Token, especially when we consider the use-cases that become possible with the introduction of Stratis InterFlux; providing bi-directional communication with alternate blockchain platforms. The number of STRAX locked up by masternodes will increase in the coming years as POA v2.0 will introduce radical changes that will see the number of required masternodes increased significantly over the current 200.
Question 3: Do you think we’d ever make it to US Binance or any other big US exchanges?
We are listed on Bittrex US, increasing the number of exchanges that list STRAX is a priority for us moving forward.
Question 4: Besides coding languages, what is your approach to win market share versus other popular platforms?
By providing ready made products that are comparable to alternative offerings except they are open source and free to use. With support being provided by Stratis.
The stratis use of Microsofts .net CLR for smart contract execution is something currently only offered via Stratis and we expect the interest to grow in our technologies due to this. Our goal in 2021 is to fully integrate Stratis into Microsofts azure and blockchain offerings. Due to our use of Microsoft technologies the migration to the blockchain for business is greatly simplified.
Question 5: What does “Blockchain as a Service” mean?
Stratis’ BaaS is achieved through the use of Masternodes, providing a decentralized application platform and in future a decentralised sidechain/hybrid chain offering, that will allow companies and organisations to deploy their own bespoke blockchain without any of the infrastructure requirements that would be required without utilising the Stratis platform. Furthermore, Stratis fully envisions itself integrating further into the Microsoft Azure and blockchain offerings.
Question 6: How is the collaboration with GLUON and Triad PLC doing?
Stratis remains in close contact with both Gluon and Triad offering our services as and when required. Meetings have already been arranged for the new year to establish goals for the upcoming year. We will be working much closer with Triad in 2021 as we assist them in helping their customers deploy use cases on the blockchain.
Question 7: Question for the Microsoft partnership, what are the advances, have you been able to present any additional products to them? Do you still have their support, or do they mostly only concentrate on supporting Ethereum Alliance and Baseline?
Stratis will become a Microsoft Gold Partner in 2021 and will continue to receive support and drive for further utilization of Stratis Blockchain Technologies within the Microsoft product-stack. Stratis will be assigning resources dedicated to developing deeper integrations into Microsofts azure and BAS offerings.
Question 8: How far are you in talks with British government about any other benefit blockchain use brings? If not, why haven’t you started yet? What is keeping you from pursuing this path more aggressively? Brexit should be a perfect opportunity to automate certain processes if not all that blockchain brings advantage to.
We have been developing our products on top of the platform in the background while ensuring they meet the requirements of several government blockchain use cases. We are confident that in 2021 we will be able to provide a wealth of value with our experience and knowledge with blockchain and supporting technologies.
Question 9: It looks like movement is coming back into play at MEDI. how does the work for customers look like, how can stratis help these companies bring their products to the blockchain?
Stratis welcomes projects to build on-top of our platform; Stratis developers and technical management team are frequently invited to architectural meetings, providing advice and approaches through in-depth knowledge. By demonstrating Proof of concepts, stratis will assist companies to build on our blockchain.
We recently had a call with the Medi development team building the track and trace platform. I was very impressed with the progress and they have been able to utilise several of the Stratis technologies.
Question 10: In 2020 ( To Date ) What was the most “We are proud of and feel good” announcement made to the community?
My proudest moment of 2020 was the community supporting the STRAX proposal with a 97% ‘YES’ vote.
Question 11: STOs need SEC approve and it seem took a long time? Do you have any plan to cut it down? Legal is the most important with STOs project, so it belong to our customer responsibility or belong to stratis? who will handle it?
Stratis offers support to its clients who are pursuing a Reg A/A+ offering approval from the SEC, ensuring that sections within the submission that reference the Stratis STO Platform are technically factual. This has involved direct contact with the SEC, detailing how our platform operates at a low-level
Question 12: Will you introduce new partners and clients in the near future? Are you still working with Luther Pendragon?
We have new partnerships to be announced in Q1 2021, as a result we have parted ways with Luther Pendragon. We would like to thank them for all their work. We are in talks with a new Marketing company, which will be announced soon. We will also be increasing our internal marketing team and be working with a much larger marketing budget, one that will increase our marketing capabilities significantly.
Question 13: This year we’ve had some hackathons. Did it meet up your expectations? What do you think of it? Will there be more hackathons next year?
There are more exciting hackathons coming next year including a Unity based gaming hackathon, also a IOT based hackathon. Our first stratis hackathon was a huge success with many use cases built using Stratis Smart Contracts in C#. The second hackathon was Covid19 based which wasn’t as successful as the first due focusing just on one usecase.
Question 14: Before the Bear market, Stratis was a top 10 coin & had over a billion dollar market cap. Since experiencing the devastating devaluation that struck the crypto world in 2018 why did the company decide to not just fold and walk away with all your money? What drives your decision to persevere; building and offering an even better platform (STRAX) to the crypto world? Having already experienced those highest highs and those lowest lows, do you feel wiser and better prepared about the future Stratis will exist in?
Stratis is one of very few that has been able to ‘survive’ the bear market and continue development based on the amount of initial funding that was received (600k USD). This success is primarily attributed by Stratis’ ability to develop with an agile development methodology, shifting focus and moving to create fit-for-purpose solutions.
The developers and management team at Stratis whole heartedly believe that Stratis Technologies will prosper and receive mass adoption. To date, we are still the only platform within the space that offers a Smart Contract execution on the .NET CLR, enabling a fully distributed and decentralized managed execution environment on .NET like no other. All employees are dedicated technologists at heart, and that is why they continue to perform further research, development and innovation through a love of Stratis Blockchain Technologies.
Question 15: Could Chris introduce the whole current team again? does stratis plan to hire more people in the future?
A number of positions will become available in the new year as we look to expand our capabilities developing our platform, roadmap and ready made products. Stratis is very much looking forward to bringing onboard individuals with a true passion for Blockchain Technology to join the talented team and those from areas such as Gaming, IOT and AI.
Question 16: Wondering If ledger will support strax?
We are confident that we will have ledger support for STRAX in future.
Question 17: Who will be the new CTO? What about the Breeze project? Nicolas, Dan and Adam will continue to support the Strax project again?
The position of the CTO will be filled next year. We have a few candidates we are in discussions with. Nicolas and Adam have moved on and are working on some amazing products. Dan is working on projects independently but still utilising the Stratis tech, we still work closely with Dan and he is of huge value to Stratis. Nicolas, Adam and Dan all contributed a huge amount to Stratis and I will always be grateful to them
Question 18: Do you have any vacancies? And do you foresee to grow / shrink on the short term? What do you do to attract new developers?
In the short term we expect to grow the team and will post vacancies in Q1 2021. The C# aspect of the Stratis platform have attracted many developers and will continue too. We plan a busy next year speaking at Dot NET conferences, C# Corner and other avenues to be announced.