Session 001: Brief w/ Lars and Torben

What is the point of Concordium?

In my former life, ran Saxo bank, a trading platform. Always kept an eye out for interesting trading objects. Got into BTC early and followed the space early. Thought that BTC could go onto the trading platform. Everything was coming together, he knew the ETH team, was fascinated by the anarchism and the dreams of the people that wanted to get the state out of the hair of the people. Which is an interesting place to explore when you yourself have run a bank.

Got annoyed that people were ignorant to the outside world, in full anonymity, there was a slight dichotomy there. In order to really get traction and adoption, surely this industry at some point in time will have to accept regulators and law makers.

Didn't feel like anything coming out at the time were particularly ready for that. When sitting with Charles Hoskins, he basically said that you should build your own blockchain.

Had these two main inputs from the blockchain space and regulatory banking. Scalability issues were a complete fail.

Trying to bridge the gap, but what would be the actual use case? What did you intend to happen on the blockchain.

What is the response from the serious companies?

These companies are quite friendly, enjoy the grey hair, like that we know what we know, so its quite positive. The thing is, that most of these corporates, are not ready to embrace blockchain in a big way. They simply don't know what they're going to use it for.

Blockchain has serious benefits, they know this, but the general industry problem.

Why would this be needed for deFi, the big killer use case?

Asset tokenisation, focussing on understanding who owns what.

RWAs, could open entire new markets. Democratise new markets.

Have they heard of Mattereum?

Industrial processes, databases, things that need to be stitched together to get whats going on. Understanding said supply chain and how it works. Immutable documentation on certain processes.

Whats your perspective on CBDCs and how you may take advantage of it?

CBDCs unlikely to be built on pubic chains, unlikely that they will leave their assets and control of the currency, on a decentralised system. CBDCs will be internally closed.

Stablecoins on the other hand, could be a more useful with a direct purpose. These could be super valuable and help.

Made it in order to have a stablecoin, needed one that was integrated. Personally quite scared about USDT. Not sure they have the assets. USDC seems to be a solid protocol.

There is a distinct lack of non-dollar denominated currencies, Euro in high demand.

If aave and uniswap wanted to onboard tomorrow, would you welcome them, what steps and hinderences might they face? Would they get any distinct benefits?

They would welcome any relationship. Looking quite a lot at the reverse, if they can make the ID portable to other chains, turning it into a standard.

What about the rest of crypto, is their special, winning use cases that could be found in DAOs, Stablecoins, gambleFi, deFi

Anybody that sees the value and knowing that they're dealing with real people that have gone through an ID process sees the added value.

Have you ever incentivised the creation of ID?

By definition, yes. As we do it for free, which is an incentivisation.

have you thought about creating your own exchange?

No, CEXs seem like too much work. We have the skillset to do it, but its a hard place to gain traction. Spent $30-40million a year to convince people to use their platform.

It's a generic tooling, buy, sell. That's it.

There is a company called Taken, they build DEXs for different platforms. Built for Near, but for Concordium.

Would you be interested in taking on another $15-25million for an OTC deal?

Yeah he'll speak to them. I will make the intro. Ticket likely too high.

What are the North Star Metrics for the ecosystem?

Don't really have a clear view on that right now. Below 50. Builder use cases coming in. There are 50-60 use cases live onchain. About the same, more or less, building projects on Concordium. A lot of them are supported by grants. Giving out on average $20-30k, given out $1million. There is no traction that is *really seen*.

Follow up: Have any of them received funding, or revenue, post-grant?

Only a few have, but there's not really a strong developer community.

Started to support them (projects) in these new areas, helping to attract them. Real transactions. They know real transactions are happening.

The current wallet can only hold CCDs, doesn't seem that important.

What are the main objectives?

Increase demand for the token and its price.

Getting something to actually happen.

Want a lot of people to actually get utility from the chain.

Increase transactions, number of wallet accounts, actually operating and working.

Parallel objective, is to make sure the project is self-sustaining and valuable.

Follow up

- Watch Strategy Presentation

- Give clear defined answers on what we should do next

- Look at the capstone projects

- Work on the communication, the creative, the copy, the distribution

- Starting an Ambassador program, we can help them with logistics and reach out