 Hi everyone, welcome back to another Coin Telegraph AMA. It's Giovanni here. Today we're going to talk about Plug Chain, a layer zero blockchain solution with low gas fees and high performance. To talk about that, we have a special guest, Mr. Joy, the co-founder of Plug Chain. Welcome, Mr. Joy. Hi, Mr. Giovanni. Hi, everybody. Glad that I can be on Coin Telegraph. I mean, really proud of it. It's a pleasure to have you. So before we jump into the AMA, I want to remind our audience that this is an interactive show. So please ask any question that you have in the chat below, actually on the right. And then we are going to ask those questions to Mr. Joy. Also, don't forget to like the video and subscribe to our channel if you haven't done it already. So let's get started. Mr. Joy, can you briefly introduce your project? What is Plug Chain? All right. So OK, Plug Chain is, as Mr. Giovanni has mentioned just now, Plug Chain is a public chain that we have two specialties on the project. We call it the cross-changed and the Oracle name of protocols, because initially we intend to have Plug Chain, to create Plug Chain, not like others, public chain like Ethereum or Tron, that just simply supported the blockchain or crypto world. The intention of creating Plug Chain is to help up the real traditional industry, like maybe factory, maybe manufacturing, or maybe transportations, to let all this kind of real life industry to be able to enjoy blockchain technology. So that's why we created Plug Chain. And the most important part, we have to put it together with the Oracle network protocol and cross-chain functions. So I mean, this is the whole original idea. So maybe for those people that don't know about this concept, so Plug Chain is a layer zero blockchain. So we know that there are different layers, layer one, layer zero, layer one, layer two. Can you maybe briefly explain what is the function of a layer zero blockchain solution? All right. So to be frank, very simple. I mean, I believe there is a lot of audience and viewer out there, which might not be 100% understand about technology. So let me make it simple about what is layer zero or what is layer one. Go straight like this way. Plug Chain is the base layer. I mean, the layer zero is the base layer. I mean, the most basic fundamental blockchain I mean, you can build every single thing on top of Plug Chain. Just imagine this way. We were trying to talk about Ethereums. We're trying to talk about maybe, for example, Trons or some other public chain. You can build every single DApps function that you're trying to build on top of it. Just for example, like Ethereum, you can build a DEX Uniswap. You can build on top of it. And you can build a lot of different things on Ethereum platform. So the whole and original ideals of Plug Chain is like we're trying to make sure that Plug Chain itself is the most basic chain by itself. And we're welcoming. And currently, we have nearly 18 different ecosystem is building on us. For example, we have our own decentralized exchange already. They're trying to build decentralized exchange. We call Plug Chain Swap on top of our Plug Chain chain. And we have NFT. We have a lot of defines and ecosystem as well that they are using Plug Chain for the fundamental chain. So I mean, to be simple as that, for those who are not technology background maybe. OK, yeah. So like a base layer solution where you can build DApps and other products on top of it. So now let's dive a little bit more into the project. So can you give us some information about your background? So what is your team and what motivated you to start this project in the first place? Well, my background. I mean, I'm in blockchain for like five years. I mean, before we started the whole Coin Telegraph live streaming, I just talked with Mr. Giovanni just now on the backstage. I'm saying that we are welcoming a lot of people if you are able to come to Asia or like Malaysia, Kuala Lumpur, Singapore, China maybe. Frankly, a lot of places that I know personally, which is owned by crypto fans, they are able to receive Bitcoin or USDT for your spending. OK, what is it related with my background? To be honest, I started a project called FeeCoin years back. I started a project called FeeCoin years back. I'm invented. Me and my partners and the company called V-Lab, we invented the world's first point of sale system, POS. OK, post machine that able to receive cryptocurrency like Ethereum, Bitcoins and USDT, Tron maybe, Bitcoin Cash maybe, everything. So my background years back, when I founded V-Lab, my intention is to make sure cryptocurrency is not only meant for speculations or investment, it can be used somewhere else to spend. Because I understand more people joining in, more people loving cryptocurrency, the higher value it will be. So cryptocurrency should be go somehow in future by that place. So years back, I started FeeCoin, V-Lab, and I'm selling more than 300,000 pieces of the POS of sales machine to a lot of different cryptocurrency companies and fans as well. In the world, and I've been invited to NASDAQ and to CNBC. And yes, I failed my whole company seriously. But I gained what I learned, how to make sure a cryptocurrency will gain their value. I learned a way to make sure the whole project will go success again. So this is how I saw PlugChain. Because I did not founded PlugChain in the beginning. Friend of mine, they intend to develop PlugChain as they wanted to help factories and manufacturing them. So I understand the whole picture and the aims behind. So I decided to say, right? So I'm trying to invest it in and I'm trying to incubate the PlugChain into a bigger market. Because I have still a lot of people supporting me overseas and in China and in Asia and in Europe as well. So I say, let's bring PlugChain to the world. And yes, I did bet it right. And I bet it nicely. PlugChain did start from 0.01 until now, 90 times gaining. And for one month, we are still there. The fans, the supportive fans is so strong. So this is my background. Cool. Thanks for giving us that background. So now you said that you wanted to bring the PlugChain to the real world. You talked about different types of industries. You talked about manufacturing and so on. So can you now explain better what is the actual real world use cases that PlugChain is trying to bring into reality? Well, cool. I mean, due to, OK, let me make it much more straight and simple. Because for years back, I have been participating in blockchain and I heard a lot of myths or I heard a lot of stories that PlugChain, I mean, blockchain will be the future for all industry. But yet I would say that it's a myth. Why? Because let me give you an example. A lot of blockchain technology communities or companies or cryptocurrency company, they always say that they will help up, like for example, agriculture. Just imagine if you buy a milk from a supermarket, from co-storage, and from the bottle of the milk with a bucket, you will trace every single action, every single temperature, every single people who get involved with the milk. And everybody heard of that. I mean, the two power, the source of it. How can we trace every single action by using blockchain three to four years ago? Yet until now, nobody really solved the whole problem. So I say, it's a myth. Why do I say it this way? Just imagine you own a farm, you have a thousand cows, and you produce milk a lot. And what you are trying to do is to produce every single milk, every single bottle, and you need to, like, OK, this cow come up this liter of milk. I'll record it in blockchain. Once I deliver to another guy at a temperature of, like, 26 degrees Celsius, 3 PM, I need to record it on the blockchain. And which delivery man get the bottle of milk? I need to record it on the block. And how the truck goes? Where is the GPS? I need to record it on the blockchain. Seriously, the farmer, the delivery man, they won't do it for you. Because the world needs something like chain link, which is we call the Oracle Network System. Because the farmer regularly, they only know how to produce milk. They will record it into their laptop or maybe in their phone and let the rest be done by the Oracle Network Protocol. If there is no Oracle Network Protocol traditional business, they will not have all their data in blockchain. And the whole world, they won't understand the real data being recorded on the blockchain. So that's why plug chain video. Yeah, it's time for us because we are in Asia. And a lot of people might agree with me that China is one of the biggest mega factory country in the world. Vietnam, Thailand, Indonesia, we have a lot of factory. So that's why we say plug chain originated from Asia. And of course, in future, we really hope that all these factory manufacturers, transportations, can use plug chain to record every single thing. And we'll help them to put it into the blockchain world. So the consumer, so the user, will easily source, I mean, the data. OK, sounds cool. So you mentioned Oracle's, right? As the point of a connection between the blockchain world and the outside world. So they are those mechanisms that allow to retrieve real world data and bring it into the blockchain. So as far as I understand, the plug chain's key feature, one of the plug chain's key feature is actually the combination of Oracle's and cross chain technology. Can you tell us more about these two components and how they interact with each other? OK, let me give an example this way. I have a childish idea. I'm always telling my own communities and my own fans. I don't call it really childish because I really hope that one day, the dream will come true. How to combine between cross chain and the Oracle network system, Oracle network protocols. Just imagine this way. Five, seven years ago, the world doesn't recognize and yet 2021 tons of countries, a dozen of countries, are developing their own cryptocurrency. I mean, legal currency, like for example, China. They have their own cryptocurrency stablecoin called DCP, Digital Currency Electronic Payments of China, which is representing Reming B, China Yuan. In US government, they also announced that they will have their own US dollar stablecoin in future. And you can see Saudi Arabia, Dubai, and all this country, they have their own cryptocurrency as well. So I believe more or less in future, all these cryptocurrency built by the national government will be built on blockchain. So one day, all this legal cryptocurrency, I'll call it legal stablecoin, they will be their own chain. So, blockchain, we hope that we will be able to service them. Just imagine this way. A tourist from China stepped out to America, stepped out to the state. And what he has is Digital Currency Electronic Payments, which is the China Yuan. And while he's trying to spend for McDonald's in America, he can simply pay, OK? He can simply pay DCP, which is Digital Currency of China, to McDonald's. And McDonald will simply receive Digital Currency of US dollar. Simply as that, simple as that. And how do we do the transaction? Because blockchain dedicated, we can service and help up a lot of different countries. We can help because every single Digital Currency of the country is a chain. And we'll cross it together as a plug chain. Secondly, how to make sure that the value equally transacted. You need Oracle Narrow Protocol. Just as short as we're trying to become the visa and master card of the currency world, of the Digital Currency world. OK, that's fascinating. Yeah, so imagine a world where every single country has its own Digital Currency, Central Bank Digital Currency. You want to play the role of the connection between all of them to facilitate a global network of transactions. That's pretty cool. But we also know that we are not super close to this future where every country has its own Digital Currency. We saw China that is at the forefront. But most of other countries are still lagging behind a bit. But so how is this cross-chain technology useful in the present time? So how is that applicable to the current situation in the crypto ecosystem? All right, so I give two different kind of examples. The first example is what Mr. Giovanni has mentioned. How do we play the role in the cryptocurrency world? I mean, cross-chain, you can easily for a lot of different examples. For example, Pocadot DOT. I mean, I'm a fan of Pocadot. That's why I'll be investing on plug chain as well. So I'm a huge fan of Pocadot because there is a lot of example. I mean, just imagine this way. If you're trying to have your transaction uniswap, I mean the world number one dex, right? So what you can do is only using ERC20 USDT for the transaction. So other than that, I'm sorry, you cannot play along with the uniswap. So once just imagine this way, a cross-chain platform dex that able to connect trons, that able to connect omni bitcoins, that able to connect ERC20, any single transaction or exchange can be easily done using the cross-chain performance. So this is one of the examples for the cryptocurrency world. So in the other way round, I'm trying to give some examples for the traditional world as well. Maybe, for example, if I'm not mistaken, Mr. Giovanni, I heard that you are from Europe, Italy, maybe. Let's say you're going to send me some pizza, right? And all the data will be recorded on your own blockchain. And I'll be receiving on my transportations, on my shipments. And I have my own blockchain system. If you run your own, I run my own. The data will link up together. And that's why you need to have a plug chain because your data will be connected to my data. And my data can be connected to your data. That's why we have to, I mean, that's why we believe and we strongly believe that cross-chain will be one of the most biggest fascinating specialty for blockchain world in the future. Yeah, the capacity to connect multiple chains is definitely something that a lot of people are trying to achieve these times because so many different blockchains are popping up everywhere. So definitely this capacity of connecting different blockchains is a useful feature. Now, before we move on, I would like to remind our audience to not hesitate to write questions in the chat and we're gonna ask Mr. Joy about them. We see that there are already a few. So maybe let's pick one from the audience now. So someone is asking, what is the difference between your project plug chain and V-chain? I'm not familiar with V-chain, Mr. Joy, are you? Not really? No, not really. Then I guess that we'll skip that one. So now they are asking also a question regarding the supply, I guess they might be interested so a question regarding the supply, I guess they mean the supply of the underlying token, right? Because you have an underlying token that is being, as far as I understand, is also listed on CoinMarketCap, CoinGecko. So can you tell us something about the supply of the token and something about the tokenomics of the token? All right, cool, no problems. Okay, originally, I mean the whole total supply of plug chain, we designed it as 100 billion, but 85% of the supply is post-mining. I mean you need to become our node in order to have the supply equivalently sharing to everybody if you become one of the validator nodes and 85% of the 100 billion will come out for the following 20 years. So the initial supply is actually 15%, which is roughly 15 billion. I mean of course it's quite high, 50 billion, but yet we intend to run the whole project for the next 6 to 12 months on traditional business. And if those who understand and participate in point, we call that POS, proof of stakes, if you are not holding a majority of the token, if you are not holding majority of the tokens in a POS system, you will be easily get attacked by others people who own some of the plug, some of the plug as big as you. I mean you will lose control of the data, you will lose control of the stability and the health of the whole public chain. So in the beginning, we did have a huge chunk of the total supply. And yet I think you can try to follow our Twitter. A lot of people is asking yes, why you hold a lot of plug chain in the beginning but they forget to follow on the news because we have 80 different foundations that we are holding nearly 90% of the plug chain token, plug CN. And we promise and we tell the whole world and we share the address and we show the ads to the whole world that all these things do whatever we want for at least 10 years. So this is how we are trying to show the whole world. Once we need to make sure plug chain run healthily, stably and smoothly. But yet you need to have a certain amount of plug chain in your hand. And of course if you go to the exchange market people are afraid. What if one day I supported your token and you sell your token. So that's why we promised the whole world 9% of the token with the address we've addressed showing to the whole market. We have the poster. We have the articles showing the whole world. 90% of the plug chain will not sell to the market. You can check on the address in our explorer straight away. 90% will keep for at least 10 years. Okay. Thanks for guiding us through the tokenomics of the project. Now I would like to discuss a little bit more the feature that you were mentioning before regarding like cross chain capabilities. So this is not of course the first time that I come across a project that is focused on cross chain technology and interoperability between different chains. So can you maybe tell us what is your competitive advantage compared to other projects that are focusing on the same cross chain technology features? Seriously, trying to be honest because yes, especially this year, especially 2021, like 10 different private chains showing to the whole world 9 of them are running on cross chain. So when the market only have a few and it's really easy for you to compare but seriously, currently when the market have nearly 100 different cross chain plug-in chains it's really quite hard for us to compare but no matter how hard to compare it only means one thing. Cross chain is one of the mainstream specialty in the market. So at least it proved that we are on the right track. I'll say it this way because it really hard for me because as I mentioned previously like my past record, my past story I'm running a post machine that helping all different cryptocurrency to develop their circulations. So I wouldn't say this blockchain is not really good. Mine is better. How can we make sure the cryptocurrency will become acceptable to the rest of the people who think that we are scamming? I mean like Donald Trump maybe like Joe Biden maybe and those people who they don't really currency maybe how to make sure that they love us. We love ourselves first. I mean I love you Mr. Joe Biden if you have a coin I will support you, you support me and one day we are big enough and they will think they will join in. Okay now I can see I can see there is more and more involvement from the audience that's awesome to see so many people asking questions. I see one recurring question is the difference between your project and Pocadot. I remember that you mentioned Pocadot earlier in the stream so maybe you want to make sure that people understand the difference between the two projects. Okay so Pocadot is very simple let's say if we really need to have some different something different about the chain I mean Pocadot relies on we call that chains and parachains I mean they have a lot of different small sockets for marketing guys like me a cryptocurrency investor like me to understand Pocadot is actually they actually built between chains and parachains for the cross chain once the socket, once the parachain is finished I mean that's all for Pocadot I mean either in future they maybe have better clubbing chain they try to connect it in but yeah no more place that's all so plug chain we actually use Cosmos for the fundamental so we call it we use the IBC crushing protocol to transfer the asset across the chain the name is already different but the logic is the same so at short what plug chain can much more different compared to Pocadot is if one day we have one thousand different clubbing chain in the market and I believe plug chain will be one of the cross chain, clubbing chain to support to link up all this asset, all this cryptocurrency yet Pocadot I think for my current order standing it's only able to link up a limited amount because it relies on what we call one chain and one socket or what we call the para chain okay that was pretty clear so for the people that maybe just joined this stream I think it would be nice if you could mention a few killer features of your project like two or three so that you give bullet points in terms of killer features that your project offer for people that maybe has just joined the stream and want to know what are the strongest points in your project okay so again the killer feature of course for us that we will mention is the cross chain function first thing because as long as you try to build an ecosystem on top of plug chain as long as you're trying to build anything you're trying to create your own tokens you're trying to have your own coins you're trying to have your own defines as long as you build it on plug chain you will have the cross chain function as well so secondly for the next following one two years we will be optimizing our Oracle network protocol as well so once you decided to have your own ecosystem on top of plug chain beside cross change you will have Oracle network protocol function as well imagine this way if you're trying to run let's say for example a digital I mean a decentralized exchange a DEX right so if you run trying to run a DEX you might have to link up if you want it you might need to link up with different informations from from the currency world or from the digital you need to link up with some exchange to get their pricing you might to link up to get with a market making system and all this thing you need to link up with the Oracle network protocols so this is our second killer feature and the third thing for the 90% of the market to easy understanding is what we call that quite huge TPS as for now our I mean as far as our TPS it goes up to 30,000 transaction percent transaction per second I mean it's quite fast if you're trying to do your transaction between chain to chain I mean it's a blink of eye I mean in a fraction of a second you receive your digital currency whether it's plug or you build your own cryptocurrency on plug you can receive it in a fraction of a second I mean this is the third killing I mean our specialty as well and maybe if I want to talk about the fourth one is the transaction fee is fairly low a lot of people and for me myself I'm an Ethereum supporter as well I mean at least few times a year when they try to use the Ethereum transaction fee sometimes but of course means a lot of people using Ethereum the higher transaction fee will be so but what we're trying to build up for plug chain is we have the lowest transaction fee ever we can create so our ecosystem in the beginning they can develop healthily and nicely Yeah low transaction fees and speed I think are one of two of the key most important features for every successful blockchain nowadays and a lot of them are competing on those parameters specifically now we want to pick another question from the audience because of course lately there is a lot of hype around the metaverse around gaming and FT's is it something related to those that you are working on at the moment is the plug chain involved with NFT gaming and the metaverse I owe you one Mr. Giovanni you really asked a good question I mean yeah so yeah for plug chain itself I mean represent because plug chain did not run and develop the metaverse or NFT by ourselves but we already have an ecosystem in China already develop their own metaverse gaming using a plug chain base and I mean it's really nice for those fans out there if you're trying to play some metaverse gaming but not just simply keeping a cat or a dog or a crab or something like that about a real history I mean a lot of people who understand Asia or maybe understand China there is a huge history background in China from the Ming Dynasty to the Ming Dynasty for the Emperor you can find yes we have an ecosystem we have a company we have a nurse in China already running and developing China history metaverse gaming and they're going to launch maybe after 2-3 months to the market and it's built on plug chain I mean this is one of it and we have also another one NFT in Singapore running on plug chain we have two currently one metaverse gaming and one NFT in Singapore and both of them I mean a community built out I mean they run by themselves they have their own communities they have everything on plug chain sounds exciting so maybe we can continue talking about the future projects the future development of plug chain so in order for our audience to understand what has been achieved so far and what still needs to be achieved in the timeline of your project so maybe you can highlight the main goals that you achieved this year and what you are hoping to achieve for 2022 in terms of development projects that you want to implement and so forth well I'm a marketing guy okay firstly I'm a marketing guy so forget about the technology part because I'm supposed to invite my architect or my partners for the whole plug chain technology to explain about the future development of plug chain regarding on the technology I'm the marketing guy I incubate plug chain so answer in the marketing way for this year at least first of the at least first goal we already achieved we listed in L bank L bank which is the world top 30 exchange we start our price at 0.01 and we hold it nicely at 0.09 I mean we started at 0.001 and we hold it at 0.09 or 0.0708 like 70-80 times gaining for all our communities and our fans I have and we are still there for the past 2-3 weeks I mean I have no idea but I would say it's quite fascinating we stable our price we let and make sure all the community earn and gain their profit I mean this is our goal because seriously Mr. Giovanni and a lot of people are asking me what is your future what are you trying to do some people can give you dozens of ideas and how they are trying to develop but all this thing is bullshit if your community is not earning money all this thing is bullshit if your price is shutting down so the first goal we achieve so the second things that we are going to achieve this year beside L bank we are going to list in xt.com and hotbit.com by end of this month or probably beginning of next month and we are approaching by top exchanges I mean top 10 exchanges in the world which is quite famous and the interviewings, the tele-meetings it's all been done so very soon probably next month we will announce once they have their memo out showing to the market so our second goal is to make sure that we are going to list beside L bank beside hotbit and xt already announced at least we can list one of the top exchanges in the world that which is famous enough top 10 exchanges in the world so we already approached by them and probably going to announce in the next one to weeks probably so this is our aim and goals for this year so the goals for next year we aim before 2020 June or July we will have at least 50 to 80 different ecosystem built on top of plug chain like I mentioned just now we have NFT Metaverse and we have decentralized exchange and yet we have stable corn as well but it's not developed by plug chain I mean it's built by our ecosystem we have a lot of different gaming mining, decentralized exchange and all sort of different things and we even have a community from Thailand they trying to use plug chain for ERP system enterprise resources planning system built on plug chain so at least next year June or July we will have our aim we will support the growth of 50 to 80 different ecosystem inside plug chain so these are aims so once we reach there the price will ultimately goes up by itself I don't really care what is the price that we can go I only care how big your project can run and the more project you can run the bigger value you will be so yeah this is my marketing ideas to everybody great awesome I mean I think that there are a lot of things to look forward to and of course I noticed the price of your underlying token has been doing great so that means that there are very good potentials there so people that might want to check it out to check out the plug chain website to find more information about it I believe the website is en.plugchain.info and you can find many much more information about it plug chain is also on YouTube it's on medium it's on Twitter it's pretty much everywhere you can find additional information about it so I think this is a good moment to wrap things up Mr. Joy do you have any more comments or things that you would like our audience to know about the project I try to promote one thing Mr. Joani and I really hope that you can enjoy it as well besides promoting plug chain besides promoting the ecosystem and what's strong and what's good about us I really love one thing in plug chain I have a gang of friends they write us a song and it's called the songs is actually called plug in me it's kind of funny it's kind of funny plug in me right plug as you understand plug right plug in you the rest and the great old songs I've mistaken are six different languages they have in Japanese they have in Korean they have in Indians they have in Cantonese Chinese Mandarin English and Indonesia if not mistaken so it's a multi language rapping songs and it's all regarding about plug chain I love that songs a lot so beside plug chain I really hope for those people who are listening to us all the viewers all the audience you can go online go to Twitter or go to YouTube do subscribe on our social media and do find that songs called plug in me plug in me and run through the whole songs listen at least five to ten times believe me you're gonna love it it's one of the great songs ever ever ever heard because it's all about cryptocurrency it's all about blockchain and it's a rap songs and it's six or five different languages so I really love it so I'm trying to promote this yeah actually I was checking your YouTube channel before and I saw one rap song on there but it's called plug to rap maybe it's not the same one you were talking about I think plug in me maybe you're trying to look I love that songs actually it's quite funny but I believe you can find it on the plug chain YouTube channel so cool thanks a lot Mr. Joy to come on our show it was a great pleasure and I also want to thank you our audience for the participation and all the questions I'm Giovanni your host and see you next time I'm Joey and see you next time bye bye