VP Technology Anton Mozgovoy answers questions from the community

Previously, we held a small survey in our community to find out the most asked about questions. Anton answered them in a video, taking the occasion to make an announcement about the roadmap too. Below you will find the video with its transcript:

“Hi everyone! This is Anton, and I wanted to touch base on three topics in this video: Our first annual report and its results, clarification regarding the roadmap, answers to the questions from our community, and without further ado, let’s start with our first annual report:

It is already online and available on our website. It covers and summarizes all the activities and milestones that we achieved as a project, since the ICO till now. They were definitely very hard, yet exciting times for the project and for each and every member of the team and our community.

Since our ICO, where 12 thousand people believed in the mission of the project, there are currently more than 500000 people using the product that was developed from that mission. But it is not all about the finish: we’re still at the very beginning of the industry, and of the vision of Humaniq and the true value that the project can bring to its customers.

Ultimately I wanted to say thank you for everything, to every supporter, to every member of the community, our partners, and my colleagues. Without your support, the constant development and improvement would not be possible.

The second topic I wanted to touch base on this video is the roadmap. There are a lot of rumors, questions and misunderstandings, and I wanted to clear them for our supportive community.

So basically, following lengthy discussions and evaluations, we have come to the decision not to release the long-term roadmap. While they’re considered to be a must-have for crypto projects, we’ve always felt that having a strict roadmap would restrict our ability to adapt to the changing landscape of crypto and Fintech. Ultimately we don’t want to create a roadmap just for the sake of creating it — we don’t want to just show it, we want to adhere to it as much as possible and make it as detailed as possible for it to make sense. Unfortunately, that is an impossible promise. We use the Agile development process and the ‘Lean Startup’ principle, which focuses on providing new features that are entirely based on feedback: hypotheses are made, iterated very quickly and then scrapped or integrated. We’re moving very quickly and the roadmap was just slowing us down. Without knowing if everything that we are planning will work out perfectly, if something is going to change and if something is going to stick, the priorities might change and a fixed roadmap would prevent us from doing that.

Regulatory aspects also need to be considered, or rather their absence. In that uncertainty, we might see bans, license requirements, and many other major changes that would prevent us from adhering to the roadmap. And that is something we can’t control.

We will of course provide short and medium term goals, and regulatory updates in the countries where we’re working.

So I just wanted to clarify and clear this conversation, we will not publish the long-term roadmap for 2018–19. I hope that this will help everybody who was looking for the roadmap.

The third part that i wanted to touch base here was answering the questions from the community:

There are going to be three major questions from the community that I wanted to respond to, three major topics we had to respond to, number 1 being related to the bans and the current situation with the fraud and the anti-fraud system. Number 2 is the current development in terms of the countries. As we know we’ve expanded from 5 countries in nov 2017 to more than 40 countries in 2018. And the third question will be regarding the technical development of the country nodes.

So without further ado, in terms of the fraud the current situation is that our team has launched and developed an anti-fraud system that is a self-learning smart system. We did have many attempts of fraud, so there were a lot of other competitors and users who would try to abuse the system. That is why some of you may experience bans of their accounts, which again, in case it was a wrong decision, they would be unbanned. We did have cases where people would try to overload and abuse the system by getting free tokens. So we shut down and eliminated all those accounts.

The anti-fraud system is now working in place, and all of the withdrawals are open and will stay open. I can say that we successfully fought the fraud, and attempts of fraud, and now we’re moving further with our regular development plan.

Now, in terms of the feature development and of the country expansion. Currently, we decided that we’ll have a set number of countries where we’re going to focus, because we want to devote all our efforts and resources in penetrating those markets further. So we’re not expanding to any more countries soon.

Right now we’re focusing on one country, Tanzania, but all other countries remain open and active. It just means that the customer development and product team are more invested and focused into Tanzania.

Lastly, there was the third question about the technical activity in terms of how the country nodes are operating, how the blockchain system operates.

We’ve created this set of articles that explain our Hybrid Blockchain system in much detail, and here I wanted to just highlight that, because unfortunately there is not enough time to go through it. But basically, the Hybrid blockchain system was one of its kind when we first released it into production, and that system helps us lower the transaction cost and fees for all of our users. Thank you very much for watching this and thank you once again for all your support. Everyone have a great day!”

Did you like Anton’s answers? You can always stop by our Telegram to ask other questions!