Ask Me Anything with LYNKEY at ICOSpeaks: AMA Summary
February 24-th held an Ask Me Anything session at ICOSpeaks telegram chat. From the LYNKEY side there was:
Before we go to the first set of questions, could you please do a short self-intro?
👨💻Mr Dinis Guarda @dinisguarda – CEO Founder ztudium, Non-exe Chairman of LynKey
Mr Dinis Guarda is an author, academic, influencer, serial entrepreneur and leader in 4IR, AI, Fintech, digital transformation and Blockchain. With decades of experience in international business, holding executive-level positions within digital transformation. Dinis has expertise in new tech, regulation, compliance, and international legal processes. He has created a bank and driven new ICOs. He has been a Lecturer and Speaker in some prestigious universities such as Cambridge, Copenhagen Business School, INSEEC, Monaco University, etc.
His recent awards include:
Top 10 FinTech innovators by Engati
– Ranked 7 in top 100 most influential blockchain people by Rise.global
– 30 Most Influential People in the Blockchain Space by Crypto Compare
– No. 1 digital presence in the world by RightRelevance
– Top 50 global thought leaders and influencers on digital disruption by Thinkers360
The books that he has published:
– 4IR AI Blockchain, Fintech, IOT – Reinventing a Nation; Blockchain, AI + Crypto Economics – The Next Tsunami
– How To Map Who You Are
– Innovating in a Forever Recession
– Video Art and Art Films in Portugal
– NTFs Uprising – The citiesabc Ultimate Guide To Non-Fungible-Tokens
👨💻 Mr Jorge Sebastiao @Jorge4T – Blockchain/Security Advisor of LynKey
I am Jorge Sebastião, Advisor, CTO, CSO with 35+ years experience in ICT, 22+ in Cyber Security and 7 in Blockchain. Worked and visited over 60 countries including doing previously 2 projects in Vietnam, 1st in CyberSecurity 2nd in Blockchain n Mobility
LynKey is a blockchain-powered 4IR (Fourth Industrial Revolution) “all in one” ecosystem with a focus on tokenization of the tourism and property industry. It is aimed at linking global audiences using property technology, smart tourism and blockchain. The platform allows optimized time sharing, prepaid lease or license of property-based experiences (e.g. hotels, resorts, etc) within tourism, and offers a reward system for its loyal community and users of the ecosystem.
Let’s get started!
Q: Which problems is Lynkey trying to solve now ?
A:
Current problems:
– Property businesses, companies as well as cities need potential clients for property transactions. There are often many liquidity issues with respect to the global property market, which lead to price gouging and high costs in some markets.
– Converting property leasing, license and timesharing paper contracts into an electronic format is still a challenge.
– Issues with customer satisfaction and retention can increase whenever a traditional process is replaced by a more efficient and streamlined process. Property businesses are primarily illiquid (difficult to trade or exit property) for most property buyers and long term users.
Lynkey solution:
We aim at transforming smart tourism, property management, and timesharing. Our solutions involves in creating:
– A blockchain tech global digital platform to connect audiences, communities with best property and tourism experiences
– A digital community that links smart property, cities, and tourism ecosystems and opens the key to “All in one smart tourism and property tech”; An exclusive ecosystem to link people, families and communities to a premium ecosystem offering top holidays, resorts and property; A data-driven set of technology solutions that can be used to connect smart tourism, property organizations, and businesses in the world;
– Digitisation of timeshare, licencing and leasing – get time-sharing in resorts, hotels, marinas, holidays, events, experiences, related services and utilities offering the new advanced capability to increase customer satisfaction and save costs
– The first large scale utility token with access to over US $2 billion of top end resort property with a further US $6 billion to be constructed. Safety And Security for the use of funds for time sharing in a cutting edge smart tourism platform.
– Risk Diversification with Higher Liquidity
– The entire ecosystem and the Tokens are part of a strong network of partners backed by Real Assets
Q:What is your vision of LynKey?
A:– LynKey is a blockchain certification and utility system that opens up to many frictionless solutions when users book holidays or tourism experiences;
– Digitisation of timeshare, licensing and leasing – buy time-share in resorts, hotels, marinas, holidays, golf, events, experiences, related services, access to amenities and utilities offering a new advanced capability to increase customer satisfaction and save costs;
– The link to a global premium digital assets ecosystem and community that offers exclusive experiences;
– To link a community of people, blockchain developers, property, property builders, buyers, and sellers that are interested in the best property solutions, resorts, and premium tourism experiences.
Q: What are the benefits of LYNK holders ?
A:– First-access opportunity to buy and license experiences in premium holiday properties
– Low gas fee rate: 90% token based ecosystem gas fee will be given back to token holders
– Excellent margin licensing rates
– Excellent rates for staking and yield farming
– Tempting NFT assets in variety forms
– Luxury services within LynKey’s and partner’s tourism ecosystem
Q:What is included in the LynKey Ecosystem?
A:
– A blockchain tech global digital platform to connect audiences, communities with best property and tourism experiences;
– A digital community that links smart property, cities, and tourism ecosystems and opens the key to “All in one smart tourism and property tech”;
– An exclusive ecosystem to link people, families and communities to a premium ecosystem offering top holidays, resorts and property;
– A data-driven set of technology solutions that can be used to connect smart tourism, property organizations, and businesses in the world;
– Digitisation of timeshare, licencing and leasing – get time-sharing in resorts, hotels, marinas, holidays, events, experiences, related services and utilities offering the new advanced capability to increase customer satisfaction and save costs;
– The first large scale utility token with access to over US $2 billion of top end resort property with a further US $6 billion to be constructed. Safety And Security for the use of funds for time sharing in a cutting edge smart tourism platform.
– Risk Diversification with Higher Liquidity;
– The entire ecosystem and the Tokens are part of a strong network of partners backed by Real Assets.
Q: Can you explain the examples of LYNK used in real-life?
A: LynK, a fungible utility token, can be used to buy any tourism product or service within the LynKey ecosystem, with some examples including:
Travel costs: tickets, inter-city travel, visa processing, access to exclusive lounges.
Resort tours, services, and entertainment: City-guide services, spa treatments, cruises, desert safaris, scuba diving etc.
Accommodations, hotel and resort stays: A stay of one week in a particular hotel, hotel upgrades
Food & beverage: Pay for meals and drinks with the convenience of using LynK directly.
Unique tourism products & services: NFTs of these tourism experiences can be traded (sold, bought, exchanged) on a secondary market. Initial example at launch includes NFTs for time sharing experiences (refer to the NFT section below for details).
Reward system: Similar to points-based rewards, the community participating within the ecosystem will be rewarded for their loyalty by earning additional LYNKs. The LYNK’s would also enable the users to get preferential treatment or discounts to products and services in the ecosystem. In addition to a points based system, the community validating the blockchain ecosystem will also earn rewards.
Q:Can you tell us about the special features of LYNKEY that puts it ahead of its competitors?
A:– LynK: Utility Token Property-reward system for utilizing the tokens for various travel experiences within the partner ecosystem
– NFT: Tourism & Timeshare Right to use and license tourism travel NFTs experiences for a number of days for a period of time which will/ could be repeated yearly
– NFT: Property Lease
Right to use NFT property to lease an entire property,asset or luxury products that belongs to LynKey ecosystem for the whole project duration
– Marketplace + Exchange + DeFi Buying, selling, renting, exchanging, and lending features for token and NFTs of premium holiday properties
Q: What is the ultimate vision that LynKey is trying to achieve within the cryptocurrencies market? Also, you could share with us any upcoming updates if possible ?
A:The LynKey ecosystem hopes to revolutionize both: the tourism and property industry, through our respected partners. We believe that the transparency and decentralized nature of blockchain offers a unique opportunity for the tourist, the business traveler, and the international property clients to have trust and low friction costs in the transactions.
We hope to create an entire ecosystem involving global properties, that will offer tourists more incentives, help streamline the international property use and purchasing process for developers, address timeshare flaws, and more. The ultimate goal is to also create an entire DeFi ecosystem where members can do more than just trade or transfer value with LynKey utility tokens
Upcoming update:
–IDO sale on April
Q: Could you please share with us Lynkey’s plan on global expansion. What are you guys focus on at the moment
A: Lynkey is a global project and we already have our global audience who download Lynk app already and engage in Lynkey community .There will be no specific geographies and growth has been organic so far. Lynkey serves anyone with internet access.
Our main priority focus on:
– Building Lynkey exchange & marketplace
– DeFi Staking
– Tokenizing our tourism/timesharing products with our partners in Vietnam
Q:How will the LynKey team use funds raised by the initial offering of LYNK?
A:10% of the funds raised will go directly towards ensuring that the LynKey token can be listed on either a centralized exchange (CEX) or (DEX) as soon as possible. We will also work towards making meaningful connections with respect to listing the token on a variety of exchanges (of varying sizes).
Another 10% of the funds raised will go towards any new technology that must be developed for the LynKey token infrastructure to work.
15% of the funds will be reserved specifically for marketing/bizdev purposes. We know that a project can only succeed through community, and the only way to establish a true community is to increase exposure and visibility (see section below on our Marketing strategy for deployment of these funds).
15% of the funds will be reserved for the LynKey token ecosystem. We believe in reserving funds for emergencies that may occur (such as a correction in the cryptocurrency markets), and believe that it can help offer stability and help improve token holders’ confidence.
We also recognize that with innovation comes all sorts of legal and regulatory challenges, which is why we will reserve 20% for both LynKey ecosystem operation costs, as well as legal costs.
Lastly, 30% of the funds raised will be reserved for a token sale pool that can be used to purchase future properties to help fuel the LynKey ecosystem.
Q: Can you introduce LynKey NFTs?
A: LynKey NFTs will be developed to provide one of a kind experience that can be linked to various unique elements – this can include a particular property e.g:
A luxury sea-view villa with particular features or furnishings, or
A penthouse with pink walls and a butler on the top floor, or
A blue yacht offering a particular luxury experience and of particular value,
In addition, these NFTs will include timestamps for each of the unique experiences e.g. dates of the year (so 365 NFTs for a particular experience over 2022).
This will enable our tourism operator stakeholders to create time-based unique experiences and digitize it through LynKey’s NFT to represent a license to that unique dated experience. This borrows from the existing timeshare model within the tourism industry (more details in the Appendix) but offers far more flexibility and freedom. The original buyer of the NFT can easily sell this unique experience or set of experiences to another willing buyer on a secondary market without the particular hotel or resort getting directly involved (more on this below).
Q: What are the benefits of LynKey NFTs?
A:Tourism operators:
To raise funding against this promise of offering the unique experience upfront;
The NFT purchaser:
To access to these unique experience pre-purchased in time at a known price;
To sell this NFT to another willing buyer in the future if he does not need it, depending on the secondary market demand at the time without any intermediary;
Can receive a substantial discount if they use LynK to buy the NFTs within the LynKey ecosystem to reward them for being an active part of the community.
The NFT value changes based on the demand and supply of the NFT by the value the buyers and sellers put on the experience it offers and its uniqueness along with availability and desirability. NFT’s have an intrinsic value based on the matrix value of features and benefits.
Furthermore, given the restrictions on foreigners owning direct property in certain countries, NFTs based timeshare model can offer the best solution, allowing LynKey tourism operators and communities to get access to such countries’ tourism industry without running into legal or regulatory hurdles.
Q: Will answer to this one as is very relevant. NFTs are critical for our road map and execution
A: NFTs is hot trending now, Do you have a play to have NFTs in your platform? If so, can you tell us the plans of your project in NFTs?
Q: Have you being audited ? Have not heard you talk about that security of funds is what every investor craves for and plans to escape incase of insecurity if funds,scams and rug pulls ? How strongly built are your security put in place?
A: Yes we have done some audits others are ongoing specially the smart contracts by more then 1.party
Q: What is your main focus right now, are you focused on the community or market/Exchange or the products?
A: we are focused on a balance between products, marketplace and community. Community being the first but having a great product to offer the over 100k people that have joined us already
Q: DeFi, Staking and Yield Farming are hot topics right now in Crypto Space, did you make this project only for the short term because of these hot topics? Do you have a long term plan for this project?
A: this is a long term project focused on creating value. we have started concreate things. As we speak we are creating defi solutions with one of the biggest groups in South East Asia that offers quality resorts and property. Part of theroad map of our market place is that our token will enable property leading DeFi solutions
Q: Current NFT is a hot topic, but are NFT not just for art. Does your project think that more real world use cases will emerge for NFTs as time goes on, why should we take NFTs seriously?
A: NFTs are now becoming digital certificates and a big thing. Most of the sales are in collectibles not art. Our NFT solutions are for making concrete experiences real
Q: Could you please tell me just a little more about LYNKEY team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes?
A: Professional team and motivated team is one of the key ingredients to success we have a multi discipline team with both technically experience as well as industry experience to achieve the milestones of the project
Q: What is your main focus right now, are you focused on the community or market/Exchange or the products?
A: We are doing all 3 using parallel teams
Q: IS This Your project only for elite investors, how about others with small funds, is it open to everyone?
A: For both everyone benefits proportionally it’s and inclusive project.
ICOSpeaks hosted an AMA Session with the LYNKEY Team. That’s all for today.
Thanks to all users who participated.
Thanks, LYNKEY for being with us
Thanks, all and see you soon😉
Cheers 🥂
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