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Project Hydro AMA
Events

Project Hydro AMA

Hydro AMA Recap Crypto Revolution Telegram group

On 12th of September Hydro conducted an AMA in Crypto Revolution Community. Our guests were Srinivas Ratnam, CTO of Project Hydro; Rai , Community Lead of Project Hydro; Dell O, Graphic Designer of Project Hydro and Stephen, Marketing Lead of project Hydro. Massive interest from Community — a lot of questions from Twitter and Telegram. Let’s take a look at most interestiong points from our Conversation.

INTRODUCTION AND TWITTER QUESTIONS

Danny | Crypto Revolution: Welcome Hydro Team. Glad to have you with us today. So we have 4 Guests today.

Stephen | Hydro: Thanks Danny! I’m happy to be here.

Rai | Hydro: Thank you Danny 😊 Crypto Revolution Community and glad to be here with you today.

Srinivas | Hydro: As everyone is here , lets start the ama.

Dell | Hydro: Great to see everyone here

Danny | Crypto Revolution: Okay how did you guys get involved into Crypto? Something interesting to share 😁

Srinivas | Hydro: I take part of most of the technology space

from the day 1 when I have joined the project I have seen a very clear vision and mission since then we as a great team worked togather . Today we are here because of of great team effort .Its just a beginning. We have a solid road map prepared.

Rai | Hydro: My name is Rai, and I’m a Community Lead of Project Hydro. My job is to provide the latest developments of Hydro from updating the community to different discussion to hot topics and trends also ensure a gracious arrival experience for all members, prospective members and guests of members while maintaining the necessary level of building security. My ability in handling different social media groups with almost 4 years as Admin and Moderator of different cryptocurrency project serves me well.

Dell | Hydro: By doing some graphic designs, I met crypto enthusiast, including some Hydro supporters. I have learned from them, and explore Crypto since then.

Stephen | Hydro: I have been interested in the crypto sphere for a very long time but I was always being skeptical about it in a lot of instance.

I started with blockchain, became a blockchain enthusiast in 2017, I initially got involved in crypto during 2018 as an ICO investor.

I decided to diversify into marketing which I’ve got passion and acquired much experience throughout the years. And here I’m today as projecthydro Marketing lead.

Danny | Crypto Revolution: Thanks guys. Was interesting to read for everyone. Could you please describe what is Hydro in few simple sentences?

Srinivas | Hydro: An open source platform for decentralized and secure identity protocol which eventually will be benefited for an individual and for an enterprise. To meet the needs of todays platform we are adding various protocols . One such is a dapp store. In a simple word, it will be our marketplace.

Question From Twitter community

What are your steps towards community learning and awareness raising so that more people understand the HYDRO platform, its technology and its vision?

Stephen | Hydro: I really do love this question. Well, in regards to this, we have strategized and thought out how to approach this and that’s why we’re currently having AMA session right now, infact we’ll be having multiple AMA’s & event’s in coming weeks/months in order to improve community knowledge about our project.

We’ve been stellar creating partnerships by means of using our protocols. That way their community learn about hydro and understand what we do. We plan to create massive adoption globally for our protocols and we’re confident we can achieve it. It can be a great use tech in our daily lives as per future tech evolves.

We are also planning to do tutorial videos, influencers marketing, writing contest and many more in order to facilitate understanding of our tech and everything about hydro as a whole.

It’s our vision to reach out to as many investors as we can to make them understand the core of our tech, products & increase our partners & build a trusting & passionate community.

Danny | Crypto Revolution: How Community can help Hydro btw?

Stephen | Hydro: We intend to build a strong and passionate community and all we need is just the community support in all we do. Be a part of our growth squad, which we’ll be starting in couple of months.

Also, we’re continously looking for communities that got some skills to help our growth in development, business, marketing and public relations. They can be part as one of the Decentralize Ambassador.

Question  from Twitter Community

Now DeFi is one of the hottest topic in the blockchain space right now. Can you share your opinions on DeFi with us? Do you think that DeFi will disrupt the existing financial system? What is Hydro approach towards the DeFi sector?

Rai | Hydro: As you can see Defi has been a trending topic from some time in blockchain space. It aims to create an open source, permission less & transparent financial ecosystem that could be available to everyone & operates without any central authority.

“Hydro is much more than a DeFi”

Project Hydro team believes that there’s always a room for improvement

Hydro is an open-source that enables new and existing private system to seamlessly integrate and leverage the dynamic of a public blockchain for functional use cases surrounding application security, identity management , document management , transaction processing and artificial intellegence, And we have multiple protocols just for that purpose .

Do you think that DeFi will disrupt the existing financial system?

DeFi has a “huge” potential to disrupt the financial industry at every level, as Decentralized Finance utilized technology implementing the use of a blockchain-based ecosystem and will provide the user with full control of their assets from transparency, stabilization, and efficiencies to global finance, DeFi has a lot of potential to be adopted and being widespread use thru dApps as they offer borrowing and lending programs etc.

What is Hydro approach towards the DeFi sector?

The future of DeFi is massive and we hope to be one of the forefront platforms that will be building innovative solutions in this sector. We are planning to launch some solutions & products in coming months this are :

Hydro Staking : Users will be able to stake their Hydro/ETh/DAI to recieve the rewards in Hydro tokens.

Hydro loans :- In phase one we’ll try to partner with schools & universities, for student loans.

Students will be able to take out loan via smart contract, they can put their assets as collateral & complete all the requirements demanded by the smart contract, when they’ll pass the requirements, contract will directly release the loan amount to the universities/school. It’ll be more simpler, with lesser fee, transparent & easy solution for students.

Everything will be done by the smart contract.

Hydro Remittance : As names states, it’ll be a cross border payment solution, users will be the owner of their own funds & data, no centralized authority will have users funds or data. Plus, as it’ll be on blockchain we’ll try to make it as cheap as it can be to do cross border payments.

Hydro Wallet : It’ll be most secured wallet there is, Our snowflake, raindrop & Link’s Oracle smart contract will be integrated in it.

User’s will be able to do all the basic things (as one could do in standard wallet) plus, they’ll be able to recover their private keys as well in case they lost access to it. It’ll also include Hydro staking, borrowing & lending & Hydro Mist.

Project Hydro’s focuses on utmost innovation in cryptospace , as they says “The right innovation will allow you to offer something unique to your customers” with so many Developers around in Hydro that creates so many possibilities in those Protocols and this is how we approach toward to DeFi and the Crypto Community by Innovation and Adoption. Thank you!!!

Danny | Crypto Revolution: This was a huge great Answer 😁Lol. Thank you

Question from Twitter Community

Safety and security are always the top priority for users. What solution does Hydro Blockchain offer to this problem?

Dell | Hydro: That’s what Hydro is all about, “Safety and Security”. We want people to be at ease being here in the digital world.

We have “Raindrop” , it offers a way to enhance off-chain authentication protocols by incorporating blockchain mechanics as a component of a single- or multi-factor authentication process. This can add a useful layer of security to help thwart system breaches and data compromises.

Also, we have “Snowflake”, a unique identity powered by the public blockchain it also builds an extensible identity following the ERC 1484 digital identity standard. Each end-user of a snowflake-powered application is minted a globally unique Ethereum Identification Number which connects to all of their owned Ethereum addresses and ties the user to arbitrarily formatted data. The ERC 1484 Identity Registry stores, addresses, resolvers, and providers for a given identity.

We are also currently developing a new protocol called “Mist”.

Mist is an Artificial Intelligence that’ll create data modeling of transactions to enable fraud detection on the blockchain.

Mist will offer a solution that’ll delivers and will help by combating financial frauds, identity frauds & transection frauds. Just to give an example of that, let’s imagine a scenario of recent twitter hack, where hacker’s demanded BTC from everyone & pasted btc address on twitter profiles, now if user will be using Mist on any exchange/wallet & will try to send tokens to that address, it’ll give an error/warning, something like, “the wallet you’re trying to send money on is flagged, are you sure you want to send money”

This is just an example of how it will work.

Danny | Crypto Revolution: Thanks for the great answers guys. Hydro really is making a very good progress 🙂

QUIZ PART

Question: What is raindrop?

Best answer: It offers a way to enhance off-chain authentication protocols by incorporating blockchain mechanics as a component of a single- or multi-factor authentication process. This can add a useful layer of security to help thwart system breaches and data compromises.

Question: What is snowflake?

Best answer: Snowflake is an identity protocol designed to protect private data from identity theft on the blockchain by providing a major barrier to identity theft attempts.

Question: What is mist?

Best answer: Mist is an Artificial Intelligence that’ll create data modeling of transactions to enable fraud detection on the blockchain.

Mist will offer a solution that’ll delivers and will help by combating financial frauds, identity frauds & transection frauds. Just to give an example of that, let’s imagine a scenario of recent twitter hack, where hacker’s demanded BTC from everyone & pasted btc address on twitter profiles, now if user will be using Mist on any exchange/wallet & will try to send tokens to that address, it’ll give an error/warning, something like, “the wallet you’re trying to send money on is flagged, are you sure you want to send money”

This is just an example of how it will work.

Question: What is Hydro?

Best answer: Hydro is a decentralized ecosystem using cutting-edge cryptography to secure user accounts, identities, and transaction.

TELEGRAM QUESTIONS

Question from Telegram Community

What are the different and improved features of Raindrop in relation to the traditional 2FA? Will it also work with Google Authenticator or will another application be required?

Rai | Hydro: Google Authenticator is Outdated. Raindrop is more robust and innovative powered by blockchain tech. It prevents you from phishing attacks and for other security breach.

The mechanics is complete the opposite of what Google Authenticator does. Once raindrop integrated, the platform gives out the code which would input to the Hydro app.

Hydro system gives out code through the platform and have it verified into the Hydro app for verification. Phishing website can’t give out the code cause its raindrop integrated.

Question from Telegram Community

Currently, nearly 90% of investors just focuses on short-term token price instead of understanding the real value of the project. Can you tell us why we need Hydro in the whole platform ecosystem?

Srinivas | Hydro: In the past including 2017 bubble, everyone has seen and were impacted . We at hydro are taking that as a lesson and trying to building an ecosystem that is not just for a local or short term or non-environmental . We are taking every steps in ensuring that all our investors are confident in our project all the way from now , short-term and long term. We want to be a long term eco system by our self which we want to give it to community.

Question from Telegram Community

Yeild farming is a new trending so do you have any plan to yeild farming system development?

Srinivas | Hydro: Yes. we are very actively working on this. Yield farming, to my knowledge is nothing but various rewards which can be offered to staking . We are deep into DeFi space now. Commnuity will see the roadmap in short

I am really proud of project Hydro.First, because of the great team with a common goal. That makes a vision very clear for any company. Second, we are working in lots of protocols. As one of your team member has already mentioned abut the student loans. We all know the burden it carries for any student to have a loan and interest on top of that. So we are working on such great projects which are benefiting various community members. Our goal is not not become a leader or dominate this world, but we are here to help to what ever the community members who need our protocol.

CONCLUSION

Danny | Crypto Revolution: Thanks for your time guys. You did a great job

Would you like to address the Community before I open the chat?

Srinivas | Hydro: Thank you everyone for participating.

 

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Website: projecthydro.org
Twitter: twitter.com/HydroBlockchain
Discord: discord.gg/gxAUagw
GitHub: github.com/HydroBlockchain
Reddit: reddit.com/r/ProjectHydro

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