 What's up everyone? Welcome to another Cointelegraph AMA. I'm Giovanni your host. Today we're going to talk about COI, which is a blockchain protocol that helps creator own and earn the value of their content permanently. Today I have the pleasure to be joined by Alexander Morris, the founder at COI. How are you doing today Alexander? Hey Giovanni, doing great. Thanks for having us. Cool. So before we start the conversation I would like to remind our audience that this is an interactive show. So if you have any questions regarding COI and any curiosity about the project just don't hesitate to write them down in the chat and I'm going to pick the most interesting questions and ask Alex about it. So if you have any curiosity just don't hesitate and write them in the chat below. So let's get into it Alexander. So can you give us first a brief overview of what COI is about? Oh yeah sure. Basically the idea with COI and this is a bit of a sweeping concept but we are trying to build using decentralized storage instead of a traditional blockchain. So while most companies that launch cryptocurrency tend to do it you know with an Ethereum smart contract or they have their own custom blockchain our approach is to program decentralized storage which makes a lot of things a lot more efficient and it also makes them a little bit more eco-friendly because there's not as much proof of work involved and you have a lot more lightweight architecture. Does that give you enough insight? Yeah I mean I want to add so that our audience understand better what the project is about that this is about NFTs it's about being able to publish your own original content and make it your own in a permanent way through blockchain technology. Am I correct Alex? Yeah sorry I should say we're working on building this bigger picture architecture but our first really successful product so far has been the Finney wallet which lets you kind of mint NFTs in your browser right into the wallet itself. So let's anybody self publish we cover your first 10 or 20 NFTs that you want to create but all the media files also get stored permanently on the blockchain which is really unique to our platform. Right and just to give a bit more of a background information so I think that's a COI as far as I could understand is based on the concept of the attention economy so for people that don't know about this concept would you mind to explain what is the attention economy and how does COI plans to improve it? So the attention economy is it's actually how we all spend our time right like every day we wake up and we do something for roughly you know 12 to 16 hours and then we go to sleep and that pretty much defines our existence it defines our whole society it's the whole economy. More recently Google and Facebook have figured out how to capture this attention economy and to channel it to do the things that they want it to do or that their advertisers want it to do and what we're doing at COI is to build a blockchain that's purpose-built to replace those systems so instead of traditional blockchains like Ethereum or Bitcoin where the node operators accrue all of the newly created tokens you know like mining the tokens we actually give out all of the newly created tokens to the end users of the platform so if you run if you are running a COI node you get tokens for doing tasks but if you create content in the network you get newly created tokens that are generated each day depending on how much attention your content gets. Okay that's cool so let's say that I'm a content creator and I just created like a piece of art online and I want to register it on your blockchain. Can you guide us through what would be the procedure to do that? Oh sure so you can do it a few ways you can go to quote out rocks and you can just upload the file on the website or if you want a bit of a faster experience and you're going to be doing it more often you can use the finny wallet so to get the finny wallet you just go to our website you install it with one click from the chrome store it will install into internet explorer chrome brave I think most other browsers and once you have it installed it'll generate a key for you so that you can sign all your transactions and then it will allow you to drag and drop any file on your computer onto the finny wallet and instantly turn it into an NFT we'll mint it for you on our weave and then we're actually also working on bringing a number of bridges out so that you can then take them from the finny wallet and list them on the things like open sea or wearable or other marketplaces that's cool that's cool so we're going to dive more in depth into the finny wallet concept a bit later in the ma first I want to still remind our audience again that if there is especially if there is any content creator among you guys you might want to explore these new possibilities that koi is opening up so if you are curious about how to publish your NFTs and how to own and earn rewards based on the NFTs that you publish then write your questions in the chat I'm going to ask a alexander about the most interesting questions so of course koi's works thanks to a reward system right so what is the reward system that you offer how does that reward system work so every single day we count up how much attention each piece of content gets and then whoever created the content that got the most attention gets that share of the reward so if you got one out of a million views you get one out of a million of the daily tokens and that basically runs every single day so we just we sit there counting this up in the background we have a kind of reliable proof system that we've invented called proofs of real traffic that allows us to reliably track the amount of traffic coming through and we use this to to hand out these tokens specifically for content creators but also so that if you have an application that you deploy on this network you can earn tokens that way as well and our idea here is that you earn the tokens for the attention you bring in which incentivizes more people to then go out and bring more of their friends and their family and their followers into the network and to start using these koi ecosystem apps and our goal is really to unlock you know a new level of ownership because when you register your content you know with an atomic nft you are basically creating a copyright of that content which now you've permanently registered it it really does belong to you and we want to pay you for that ownership for bringing in all those people and like you know for the real value that your content is creating and actually reading through your blog I was noticing a very interesting concept that you were explaining which is the fact that nowadays on the internet there is an abundance of content but our attention is still very limited so the concept that you are focusing on is basically rewarding this limited amount of attention that we can actually give to this disproportionate amount of content that the internet is offering us am I correct yeah yeah exactly we find also that information is basically like the quality of the information is basically determined by how much time people spend looking at it so someone who's really really smart about something spends a long time looking at a piece of content from that space then we can say that that's probably really reliable information and that more people should probably look at it so it's a way for us to like as a group as our whole species look at all this content on the internet and be able to actually have a transparent way of seeing which content is reliable and which content is not so reliable there's a lot of industries like affiliate marketing spends most of their time basically falsifying content that then gets people to buy products because they think that they're going to get an experience that's not real and that's a whole industry like a giant chunk of the internet which is kind of terrifying when you think about it so this is possibly a way forward so that we don't get stuck with all this information that we can't decipher and so in order to give us a bit more of your background it would be interesting to know how you got to the point when you decided to to found this protocol and I heard a podcast I was listening to a podcast earlier where you were mentioning that initially you wanted to create something you wanted to create a technology that would enable to detect misinformation online and kind of fight against the huge quantity of this information that we can find nowadays online maybe can you add some more information about how that process went? Yeah of course so I trained as an engineer originally I really my whole life I always wanted to build something that would improve people's lives and I went into robotics originally because I found that that's where the real improvements would lie the thing I realized after working in robotics for a little while is that actually it's not that we don't have the technology to make everyone's lives better and to make the world a better place it's that we're really bad at talking about it and sharing information and it got me really interested in the idea of making a more reliable format of the internet that rewarded people for helping each other find better information and so I spent probably about the last five years thinking about that problem looking at different ways to do it I worked for one of the co-founders of Ethereum under a company called We Teach Blockchain basically studying different blockchains and putting together the the different components of each of them to build products and the thing that I noticed in a lot of cases is that decentralized storage is really the most important part and that's kind of what led us to this point where Koi is even possible because we started looking at the storage side of it and then you know really most of the most of the really incredible technology that we've been able to build with Koi you know we started with some stuff that worked reasonably well where we had an idea of where we wanted to go but we've had the benefit of talking to some of the really smart people in the space like you know Sam Williams from Arweave a lot of the team at Outlier Adventures and a few other of our mentors who enabled us to build this new completely new revolutionary platform which is sort of ahead of the curve because we've been able to go and talk to all of these awesome people and get their you know their one insight and add it to the pool. That's cool so let me understand better this topic regarding NFTs so it seems that with your project you aim to change or to improve the technology at the foundation NFTs themselves so what is not currently working in terms of how NFTs work and how do you think you can improve that because NFTs are already are already something that aim to solve this problem of ownership right but you seem to add some more some more advantages. Well so this thing that happens unfortunately in crypto where there's so much money to be made that often we're racing to create products before we actually have the underlying technology completely figured out and so if you look at kind of the people that were early on involved in NFTs we've talked to a lot of them they didn't really expect the industry to turn out like this you know they started working on one idea and then another one and then they kind of what we now see as NFTs is sort of something that has been accidentally created over time you know we started with 721 then we moved on to the 1155s and now we're kind of gradually building out more technology stacks around this the thing that all of them missed though is that if you store these on decentralized storage then they actually can't be deleted whereas most of the time right now if you know if you go to OpenC or wearable the media assets are stored on an Amazon or Google server 90% of the time if you right click an image on OpenC it says google.com in the URL that's that's where they are and so that means that if you know OpenC stops paying their bill or you decide to take your product off of OpenC your image assets might not exist anymore or they might just never have existed in the first place you know they might have only been on that one server and basically what you're doing then is you're paying a lot of money for a contract to own a JPEG in someone's database because it's not even really on a decentralized network and so what we really tried to do is to make it possible to own not only the contract but also the image file itself and that that makes things a lot more scalable because it means that now we can talk about the whole picture we're not just talking about having one contract that points to a particular file and says I own this and yes I wrote it down we're saying now you can actually own the media as it exists inside of an application and every time that that loads somewhere we can track who saw me about this NFT concept the idea that you might own this certificate on the blockchain but what if the object it points at get compromised in some way like what are you left with you're left with the just like that contract on the blockchain but if the object it's pointing at doesn't exist anymore or for some reason it's not the same anymore then probably what you bought doesn't really it's it's not worth it anymore so it's kind of it's like the difference between like an apartment and a house so like if you have the keys to your house somebody can't come and like bulldoze your house or change the locks you give the keys to your apartment you know your landlord can come and kick you out anytime and the whole point of blockchain is supposed to be that we would have houses and not apartments right right right actually I think that it's a good time to start with some questions from the audience here I see that there are already a few so someone is asking when we can sell our NFTs so a lot of people I guess are interested not only in how they can store their NFTs safely but are they also interested in like how they can then sell it for profit so is there anything new you can tell about the the process of selling NFTs using your platform yeah so koi is working on a direct peer-to-peer selling feature so you'll be able to sell your art without having to pay a sales commission through an exchange in the meantime though there are a couple of exchanges that support our NFTs so you can go to the verto exchange that's vertoverto.exchange and they'll actually I think currently have your NFTs listed if you have uploaded them through koi if you don't see them there contact our support team we can help you actually list them on to verto we are working out some integration details you know we've just come up with this atomic NFT standard recently so we're working on kind of making sure that everybody's playing by the same rules but definitely within the next couple of weeks we'll have a lot of exchanges that will list them and then hopefully within a few months we ideally like to be able to let you sell them peer-to-peer without paying commission okay that's that's cool so basically you're going to offer a marketplace for for NFTs sort of like a marketplace we see it more like a like a barter economy so you can come in and sell your NFT to other people directly without actually having to go through a marketplace at all typically a marketplace would have like one contract that officiates the marketplace whereas what we're looking at is adding the marketplace functionality into the NFTs themselves so the NFT can adjudicate its own auction so it doesn't need an auction house okay and I was actually scrolling on your on your website and and I and I saw that you already have a list of NFTs that have been created through your platform and they all show the views that and the and the tokens that were paid as rewards for those views so the more views they get the more coi tokens of reward you get basically that's exactly how it works I think we've all we've got just under 3 000 people that have submitted NFTs now or 3 000 NFTs that have been submitted if you want to create one and you don't know what to do a lot of people have been making memes which is super fun and those actually seem to get a lot of traffic so I know there's a few people in there that have made like almost a thousand dollars in on an NFT which is pretty cool and it's just an NFT of a meme that they made on some like meme generation website but it's original content right and now later I'm gonna ask you more about how this token work in the overall economy of of coi but first I want to I would like to get more information about the wallet so everything seems to to be around the phiny wallet can you maybe give us more information about how this phiny wallet works sure so I mentioned the top of the the show that the point of coi is to use decentralized storage to bridge all these different blockchains together and so if you're going to bridge a bunch of different blockchains you need a bunch of different keys and you need a wallet that can handle all these keys simultaneously and so that's what phiny is phiny is meant to be your cross-chain NFT wallet slash personal companion that does all these different things that you need to interact with coi apps right now phiny is just a really really good NFT app because we haven't got a whole ecosystem of coi apps out yet but you can use phiny right now to drag and drop an NFT or drag and drop any file make it into an NFT and start earning those core rewards on it in the future we also hope to have phiny also support bridging functionality so it'll be also your hub for moving your your assets from one chain to another and hopefully we'll start to include other functionality as we kind of extend their the coi marketplace one thing we're looking at right now for example is being able to track attention across other apps and systems so if you were to for example cross post a video NFT onto youtube we're working on a way so that you would be able to tag that with your coi id for that asset and start earning attention rewards even when people watch it on youtube yeah yeah that's a good point because actually what i notice is that you are planning to allow people that that are creating NFTs through your platforms to post those NFTs on different social media different other other platforms so to maximize the visibility of those NFTs right exactly as long as the asset is atomically registered then you can use your atomic NFT and you should be able to track attention to it we only currently support coi enabled and are we've enabled platforms right now but in the very near future we'll enable you to publish to almost anywhere on the internet hopefully awesome awesome so i think that we have a lot of questions coming that's that's great so a lot of engagement keep the questions coming we get one here that ask when can we purchase tokens and where so i guess that here they mean the coi token where where can you purchase it and when so by the end of september we'll be listing on a handful of exchanges i can't say who right now because that announcements will be coming soon but you can sign up for the white list on our website and we'll get you in first i think there are just over 4 000 people on the white list right now so get in there quick and we'll get you in the priority list we also have a couple of competitions going on right now where if you are in the competition and you fill out all the steps then we'll get you priority access to make sure that you get in at the you know this is start price at the sale okay that's interesting but now i would like to understand better like what can you do with this with these tokens so why would people be interested in participating in this token sale what can you do with the actual token once you buy them sure so the coi token very similar to ethereum or most other utility tokens is used to pay for compute credits from our network our compute system is a little different from most blockchains you might be familiar with so the thing that we implemented from a compute standpoint is called coi tasks this feature is in development right now but we're using it for a few kind of internal projects to test things out and it'll soon be taking over the entire attention tracking system basically what coi tasks does is a thing called gradual consensus that we invented and gradual consensus is a basically a slow proof of stake network so it's a lot more efficient than most proof of stake networks and it's really really good for things like web scraping or if you have a bunch of information you want to gather like an oracle network it's also very efficient for doing things like crosschain bridging because of some of the internal tech that we've developed and so really what you're doing with these compute credits these coi tokens that we have is you're enabling yourself to purchase services from the coin nodes and to access this crosschain network of decentralized storage based apps that we're going to be building we're also releasing a whole bunch of app templates and a variety of things like that which will allow developers to deploy apps using coi tokens and so really the value of these tokens is that you as an early investor in the coin network or as an early participant by uploading NFTs you're earning tokens that someone else will eventually want to buy from you so that they can deploy their app onto a decentralized network in the same way that people buy ethereum tokens in order to deploy something like chain link except that the apps that can be built on coi are things like facebook and twitter fully decentralized versions of these incredibly large scale apps and so that's really you know that's the intention of the network is we want to replace the whole internet and the only way to pay for the hosting costs from our network in order to do that is with this coi token right and now of course people that want to buy the token needs to wait until this token sale happens but at the same time if you want to earn those tokens you can already do it right you just need to to mint an NFT and wait for people to watch it and then you can already earn token right and then once you get your tokens to in the very near future we'll be allowing you to run a node locally and so you can run a node and they're very lightweight on your phone or your or on your computer and once you have your node running you can stake the coi tokens you earned so get in now get your NFTs in there so you can earn lots of coi tokens because the next thing we're going to do is set you up to actually run a node and earn some ROI on those so you can earn like you know five or ten percent interest right so the token has also function in terms of governance right so people the more you the more token you earn the more you have like some decision power on the future of the network is that is that the way it works yes exactly so we're actually in the process setting up a non-profit foundation at the moment that's going to manage the entire network and actually within you know five years our core team is ideally going to not even be really running that foundation we want the community and the people that are going to build apps on this network to have full governance control we really ideally are just here to kind of get things started get all the tech built and then hopefully we get to go build some products ourselves awesome so now let's speak another question from the audience so people are asking regarding the the promotion side of your project so that's a that's a very important side for any starting project so how do you plan to promote it in different countries wherein English is not spoken well do you have local communities for them to better understand your project yeah we're working on that so we actually have a really big Russian community and Turkish community on our discord right now we also have a few kind of growing areas Chinese was a really big one for a little while and then it looks like we got blocked by the the great Chinese firewall recently because our Chinese traffic went from like you know a couple thousand hits a week to zero almost overnight so that is unfortunate but I think the main thing that we're trying to do to make things more international is to provide resources in every locality so we're really interested in paying people to do translations of our content we are implementing at the moment a tool that will allow us to have fully internationalized versions of all of our web pages so if you're interested in helping us with the translation effort or would like to be an ambassador in your area we have lots of poi tokens available to help you do that awesome so now I would like to discuss another issue which is basically the the concept of your NFTs so you claim that your NFTs have some advantage in terms of in terms of energy efficiency so we know that NFTs are energy consuming because they are based on Ethereum and so far Ethereum is working on a proof-of-stake system on a proof-of-work system that means that there is like an energy consumption going on here and the carbon emissions so your NFTs are claimed to be 99 99 percent more energy efficient than those bills are not on other chains so how is that possible this is something I'm really passionate about actually before I got into robotics side of things I was really interested in working renewable energy I didn't see a lot of change happening the way that I wanted to in that sector so I wasn't able to kind of go into that full time but I really wanted to make sure that poi follows through on our goal of being green friendly and so that means two things the first thing is when you look at a 99 percent number we're getting that because we think that we are 100 times more efficient you know that's one out of 100 we are 100 times more efficient than the other platforms and the reason for that is two things the first one is that we are using the gradual consensus model which means that we are actually intentionally slowing things down to make them more efficient we're not trying to have high transaction finality we're not trying to do millions of transactions per second right now our goal is just to be able to maintain information with the most efficient process that we can the second thing that we do is with the lazy execution of our smart contracts and this is actually a property that we've inherited from our smart weave contract ecosystem requires only one user to actually go through and execute each transaction and we've implemented that alongside gradual consensus to make it possible so that only a couple of nodes need to execute each transaction with each smart contract so instead of all of the nodes in the network executing all of these we've already basically implemented a stake based system where only a couple of nodes need to do the computation and that might sound like oh it's very similar to Ethereum's proof of stake yada yada but what we've intentionally done is also made that compatible with things like Oracle networks so our goal is to build not only a more eco-friendly version of NFTs and Ethereum but also of things like Google which currently waste a ton of energy that's one of the reasons that the coin node runs on a smartphone or a personal computer because really we don't want to add more computers to the internet we want to use the ones we already have more efficiently right and do you think that these strategies that you have in place now to minimize the energy consumption of those NFTs can be maintained even when your network is going to scale at a global level or yeah so that's one of the best things about lazy execution of contracts is that it's basically it scales proportionate to the number of users in the network and the number of nodes in the network not proportionate to the computing capacity of each individual node so we're intentionally not incentivizing somebody to set up a server farm for example okay that's cool that's cool I think that a lot of initiatives in the blockchain space should focus on this energy consumption aspect because it's one of the main concerns in this that surrounding the space today so let's move on maybe to another question from the audience I see that there are a few more so it is assumed that assets can exist only in the blockchain can my content be protected if someone uses it without my permission oh yeah that's a good that's a good one because I actually wanted to ask you the same question so I know that you have a system in place that is working for making sure that anyone who is posting out a new NFT is actually the owner of that piece of art yeah so there's kind of two sides to this problem you can't really stop somebody from publishing copy copied material from someone else but what you can do is you can make sure that nobody else looks at it which in our case means that no one will get paid attention rewards so it kind of defeats the purpose of posting it and people who post things and don't get attention rewards you would imagine over time will realize that they're just wasting a bunch of money on uploading all this content and so what we do is we lock them out of the client side so if you go to quote art rocks there's a number of pieces of content that we're filtering out of that view so that you're not seeing them in the website and the reason for that is that we've deemed those to be copyright infringing in whatever capacity and so if you see somebody's content that you think is copyrighted like you see a friend of yours content or you see your own content on quote art rocks you can contact us with the form in the footer and we will respond you know within 24 hours and go into a triage of the situation it's actually usually really easy to tell if someone's been copyrighted uh or has had copyright infringement um in this kind of a situation because you can usually you know most people publish online most people have like an instagram that they've been publishing to you for a while so if we go check your instagram and it shows that you have that post from two years ago and then somebody just uploaded a quote art rocks yesterday and it's not you then we would take that down pretty quickly hmm but at the same time you're saying that you you don't you don't actually take that nft down it's more that the nft doesn't doesn't get any rewards but it's still gonna be there on i mean the nft is uh is still on the blockchain because it cannot be removed by definition right but it's it just doesn't produce any income yeah exactly um and there are within the rvv ecosystem there are some things in place to be able to delist it you know for example if it was something uh malicious or if it was uh content that really was going to hurt somebody by being up there um the the thing that we're noticing though is like ultimately you can't police what someone uploads because that's kind of a form of speech um but you can just police how we handle it when they upload it right so um i could just copy everything that my next neighbor says i could steal all this talking points i could steal his commentary on sports i could just follow him on twitter and i could retweet every single thing that he says on my own twitter but everybody would know that i'm a fraud and people would probably not follow me and i wouldn't get much recognition for it um and i think that that's probably like that's the social context that controls these kinds of situations more so than the technology itself yeah actually that's that makes me think about new policies that were implemented by social media they there is also this uh this problem on whether social media should be allowed to take down contents because that's also a matter of freedom of speech right but it's also they should also exert some sort of controlling um authority on the content that is being published on their platforms and so they started putting these at these um these warnings underneath specific uh specific um statements that might be dubious in terms of uh how they are in terms of how real they are how truthful they are and for example with with this covid misinformation going around you see this disclaimer underneath certain comments regarding covid that says go check the real information on the on a specific uh truthful source so that people don't take all the comments about uh that that can contain some misinformation about covid too seriously and this is a very this is a very important function that the platform works so i thought that that was similar to what you do so basically you keep the content is there but you make sure that people understand that that's not um that that's not the original one yeah i think that's actually one of the most exciting things about the web three context in this case is that in web three instead of facebook having an internal list of all the stuff that they've vetted that they think is possibly bad that list would be public and everybody be able to access it and everybody would be able to add to it or kind of comment on it as necessary which i think is really really important especially when we're talking about like election fraud or things where you know somebody's saying this might not be true because we can't always trust some large company to make that decision you know it's really got to be a more of a public process yeah that's a fascinating topic so uh we have a rambo x asking there are many projects working on same ideas blockchain projects for media explain why koi will be better than others and why users should adopt this rather than others i think it's really the integration of decentralized storage um as far as i know there's no other blockchains that natively run inside of the storage layer and so in any other blockchain what you're doing is you're creating a blockchain that talks to the storage layer we don't do that we don't have a blockchain that talks to the storage layer we just have the storage layer and the storage layer stands alone with our contracts inside of it um and that's really it's always going to be more efficient to have one thing than two okay and now um maybe switching a little bit uh angle to we've been talking about the users now i would like to maybe explore a bit the possibilities for developers so any new blockchain project needs uh good developers to attract good developers and it should offer some incentives for the best developers to work on the project so what is your incentives what are the incentives for developers to build on your on your platform so i mentioned this a little earlier i came from an engineering background so i've designed everything from uh you know marshmallow catapults through industrial robotics and everything in between um autonomous cars all kinds of stuff like that every single every single time that i built something that was at the edge it always every single time was just a painful process of debugging a bunch of libraries that nobody had thought to document properly um the same is true of blockchain the last three years i've spent an enormous amount of time writing documentation on weteachboxion.org explaining how to use a bunch of these systems um the purpose of koi is to make that whole thing basically trivial uh it should it should be simple enough as a developer to download a javascript module the same way that you do for google cloud or amazon cloud and use that to deploy applications um ideally what we're hoping to provide is an out-of-the-box framework that not only deploys the app template with a react ui but also deploys the smart contracts via koi tasks and provides all of these in one box that can then talk to the finny wallet so out of the box a developer should be able to build an entire application deploy the application to decentralize storage and then start mining attention based on how many users they're getting um and we really see this as being like a comprehensive suite of tools that ideally can be written completely in javascript without ever having to learn our custom programming language all right um i just want to take the chance to remind our audience to continue asking questions because it's it's very exciting that there are so many comments and questions regarding koi so keep them coming also i want to remind everyone that didn't like the video and subscribe to our channel to do it now and be be tuned for following AMAs and other cool videos that we're gonna publish next so moving on to the to the next question i would like to come back to the overall vision that you have for the internet so you mentioned the fact that you aim at changing the internet as as it is this is like a sentence that i i actually been hearing quite often from uh from defi from defi startups so maybe you want to give us your vision of the internet for the internet of the future sure um of course there's a there's a document on our resources page called the canonical record and this is probably the closest thing to the core vision of koi that we've ever come to and basically what it spells out is a system where the entire internet is made up of atomic nfts where every piece of content that anyone publishes is owned by that person and where every single time that someone looks at your content that process is recorded transparently so that it can be used to identify the quality of the content and also pay you as the creator for driving that engagement from all of those people um and this is not too far off it's actually kind of fascinating we've built all of this technology you know like the hdp protocol javascript browsers all of these pieces have been built up over the last 30 years and really all we're talking about doing now is changing the attention infrastructure and kind of the incentives for people uh which that isn't really that hard you know it's basically a matter of just swapping out one package for another one and then keeping the same audience engaged a lot of these things that we've developed socially like making memes of things or using social media to communicate about current affairs all of those things will be the same the only difference will be that you'll actually own what you're doing and you'll probably have a democratic say in how these platforms handle your information um that's really exciting to me at least right and maybe it's worth to point out that this doesn't have to do right just with nfts it's something that it's a copyright system basically that is going to involve all sort of content on the internet so i guess from uh from books to websites to films videos uh blog posts anything right right and the comments on them as well though that's the really exciting part here my first app that i ever built was called breadcrumbs in 2015 and breadcrumbs basically the idea was you could leave comments on websites and i thought this was really cool at the time because it meant that if i was on a news article i could see if somebody else had commented it was really exciting to me um and i think that ultimately that's where we're headed you know we'll have this contextualized experience when we're browsing where you're not just watching a video you're watching a video with every other person's ever watched the video and seeing their annotations or you know similarly you're not just looking at a meme you're seeing a meme plus a decentralized comment section that includes seven billion people um and that's a totally different experience to just like a 2d image you know right uh we have another question here which is more specific one so they ask uh when will the search nfts by author be entered and so on so i guess they mean like how there is a search engine for finding these nfts as far as i understand so we're actively working on indexing them uh one of the first coi tasks we'll be unveiling will be uh basically a task that allows you to with your node go and index nft information and then allow it to be searchable um that probably won't go live for a couple of months but i think in the meantime we have a few kind of cool features that will help to make artists more discoverable so one thing we'll be doing is making it possible for artists to have their own custom collections which i believe is coming out next week and so that'll allow you as an artist to have your own custom portal that you can send people to uh it'll be able to be customized with colors you can pick which nfts you display in it and then every time somebody goes to that page you'll earn a bunch of potential rewards um in addition to the collections aspect though the really kind of important part here is being able to have filtered leaderboards i think so that people can find content that they actually are looking for that's kind of interesting um and so we've looked at doing uh kind of keyword specific ones where we let people tag them we do have tags in the current model so you can tag your content and other people will be able to find it based on the tags pretty soon but the thing in the meantime that would be even cooler is if somebody wants to make like a topic specific version of our leaderboards we'd be happy to sponsor them um and so if there's somebody out there that wants to make say uh you know a coi.rox leaderboard for photos of trees or a coi.rox leaderboard for photos of cars or something like that that might be like a little bit more topic specific we could pay you to build your own indexing functionality really what we're trying to do ideally is that we don't want to be the only structure in the system we want to hire lots of people from outside to build onto the network and then get to get to own a kind of a piece of it as well awesome and regarding hiring are there any is there any information on your website regarding these uh these positions that you might want to fill in terms of uh jobs yeah so we have a number of kind of grants open right now um you can fill out the grant application on our website as far as hiring actual people um we so far have been pretty lazy about hiring we've had a lot of people come to us and say that they want to work on things um we are always looking for developers though so if you have experience building with solidity or if you have a good ui ux skills and you want to come and try it out in a new way very open to kind of retraining you on the coin model um similarly on the uh kind of building out the coi tasks infrastructure side if you're a really solid uh you know javascript or typescript developer and you just want to try building something crazy what we basically do every day is we come in and we try to think about how to rebuild the entire blockchain from the ground up so it's very very exciting work it's a lot of fun and if you're talented and you like working hard it's the best kind of work to be doing awesome so I guess that this is uh the perfect opportunity if there is anyone being a developer in the audience right now to reach out and try your luck with this new exciting project so now moving towards the end of this AMA I would like to actually ask you one one more thing which is not clear to me so um I saw this this new concept on your website which is called proof of real traffic so as far as I understand it's a system that you have in place in order to guarantee that the attention that is given to specific NFT is a real is real attention and it's not just some sort of manipulated maybe you can maybe explain better what this proof of real traffic is and how it works sure sure um so this concept actually comes from DIDs decentralized IDs and the concept of attestations so really all that are proof of real traffic is an attestation that you viewed somebody's content the only difference is that rather than storing all these attestations on chain we just kind of count them up each day so we take all of these attestations from all these different wallets saying hey this is me with my signature saying I viewed this piece of content we count all of them up and then at the end of the day we're able to release the rewards based on that um the thing that we're implementing which is kind of exciting on that front though is the ability to have uh what we call a bellwether node which is somebody that's a trusted member of the community somebody that's uploaded a lot of NFTs they have a lot of collections maybe they're holding a large coin balance and running a node and we can trust that they are actually a real person and that we can be a hundred percent sure that they're not a fake address and so this is how we get around civil attacks and other kinds of like spoofing a bunch of IDs to fake the system out so there's kind of this combination of like a small proof of work some attestations a digital signature combined with being able to trust specific people in the system so it's not a hundred percent trustless but it does work very very well at a large scale okay cool so maybe now it's it would be cool to uh to go through the the status of your project that that is currently um what's the status of your project right now because of course people uh got a lot of information from this AMA but sometimes it's difficult to distinguish what has been achieved and and what still need to be achieved so maybe you want to go through the major milestones that you hope to achieve in the next few months and what's is the status of the project right now sure sure uh so right now we are in the community building phase so the goal at the moment is to get as many of our supporters and people who are ideologically aligned some of the koi tokens because we want you to have tokens so that you can participate in the governance so you can run a node um and also just to keep our community filled with really vibrant and kind of you know passionate people um so right now number one step is let's get everybody in the door who wants to be part of this and let's give them all some tokens so they can participate step two is really launching this network that's probably going to happen in about a month um when we really launch the network what that means we're going to list the token tokens going to start trading publicly we're going to start letting people run nodes uh locally which will allow them to start earning even more koi tokens and to start participating in koi tasks and around the same time we're also ramping up developer relations so we're basically opening opening up a series of hackathons we're going to teach people how to build on the platform and that's hopefully also going to drive some demand for the koi token uh so if you are running a node you'll be able to sell your tokens and you also have lots of things for your node to do this will be lots of developers buying tasks from the network um the final stage after those two is really that you know probably about a year or two from now we will have a large group of trained developers who'll be really excited about building these kinds of decentralized apps and there will be a fairly large community of people running the finny wallet who can go and try out those apps and that's really what we're dreaming of right now because when we get to that point then we get to move into the kind of third phase which is where we replace the whole internet and that's where we basically start giving out grants to top developers to be able to build decentralized user owned versions of the apps that already exist today and you know they did a lot of hard work for us because google and facebook have these huge teams of ux people that do research on what the best user interface should look like and they've gone ahead and built all those so we can just go and copy paste that content learn how to design these kinds of systems that really make people's lives better and then give the ownership back to the users um and that's that's basically the mandate over the next five years is let's just start copying everything that's on the internet right now build it in a way where people actually own their own content um it might seem a bit disingenuous to uh kind of take the designs that they've built but really that's how design works right um a lot of these big technology platforms have become more systems of oppression than freedom and we'd really like to try and take that up a notch by letting developers take all of our toolkits that make it really easy to build apps and use them to build things that reward the people that are actually there using them yeah it's very fascinating uh sometimes I wonder how the internet will look like in five years from now and if projects like yours manage to succeed there's going to be definitely something interesting to to look forward to I hope so a lot of blockchains and probably a lot of bad numbers in the stock market but that's good for us yeah so I think that we we can wrap this AMA up so I would like to thanks thank our audience to be so engaged in the conversation we had a lot of interesting questions so great job guys and I also want to thank you Alex for coming on the show thank you Giovanni it's really nice being here and also thank you to the audience really appreciate all of your attention today and please try to upload some NFTs so you can get paid for the attention of course and if you want to check more about the project you just need to go to koi.network and you can find all the information that might you might have missed on the AMA there yep and that's koi with two eyes yeah right it's kodoublei.network so thanks a lot again to everyone watching I'm Giovanni your host see you next time