LBank AMA Recap with CTP
On 21 April we held an AMA with the CTP team, hosted on LBank official telegram channel. If you missed this telegram session, here’s another chance to get a full transcript of the AMA event.
Hi everyone, I am Pablo Lee from Ctomorrow Platform, now is CSO(Chief Strategy Officer) of the project. I was a banker of IB team before, working at China Construction Bank.
And also working as solidity developer as freelancer after I finished the career in the bank, for my major is Management Information System and I learned the concept of Blockchain in the university. In the early time, I worked for Ctomorrow Platform as an outside consultant, then I see the great potential of the project, which has healthcare application — Cosball App and reached partnership with Cosmetic Company.
Ctomorrow Platform is a startup company which build blockchain solution for partner companies, we have 8 developers in the team. You can see our initial product, Cosball App in our official website. We collect facial skin data through the application and provide CTP reward for the providers of skin data. And our partner COSBALL company is developing Cosmetic solution based on the data of application.
Every users of our application will get personalized Cosmetic products in the near future. If the trend of now is M2E(Move To Earn), we will lead the trend of S2E(Scan To Earn).
Why was CTP created on Binance Smart Chain?
You know, for the startup project, choose the proper public chain is one of the most important things. About the stability, Ethereum is the best, cause it has the most network keeper in the ecosystem. But as the ETH’s price reached ATH and its main coin has the highest price among the public chains. The gas fee is so high and I think it will be great pencer for the entry users of CTP. So in the opinion of expense and public chain’s stability, BSC has higher TPS than Ethereum and its gas fee is acceptable, also BSC has huge users for its ecosystem.
That’s why we choose BSC as our basic public chain.
I have heard of that your project’s NFT Marketplace will be released in short term. Could you tell me some information about that?
Right! The next product of Ctomorrow Platform is NFT marketplace, its name is Opick.
Someone might ask why its name is Opick(?)
We wanna everyone to participate in our NFT marketplace just easily like picking an egg, that’s the history of our NFT marketplace’s name:). Also, most of the NFT marketplaces mainly support the trading of art works. It will be the same for Opick, but we will support diverse NFT in our platform not only ownership of art works, but also for machines in the factory and etc.
Users can enjoy Opick with CTPAY Wallet, which was developed by our team.
When it is released, we will announce to our community, please follow us and see the great future!
What’s your opinion about M2E(Move to Earn)?
Well, maybe some crypto users know, M2E trend has risen above the water since STEPN became popular to the public. Of course there will be people who like these themes, but I’d like to be careful here with my opinion.
M2E means move human’s body to earn some rewards based on blockchain inflastructure. Let’s think how the cell phones check our moving accurately. In the act of running, you can check the amount of exercise by changing the position on the GPS. However, in the case of other sports, I think it is difficult to check the activity of people with smart phones.
In the previous trend, such as Defi, it has created top projects in 2021. But I am not sure M2E can do that, due to the limitations just mentioned, it is questionable whether it is possible to build an ecosystem.
So, we are collecting human skin data, similar to this trend, but rather than implementing momentum as data separately. This is not something that all projects can easily follow, so we want to take a preemptive advantage like STEPN.
I know your project keep partnership with COSBALL. Could you tell some details about that?
To answer that, I have to introduce COSBALL briefly
COSBALL is Cosmetic Company which focuss on packaging single-dose cosmetics in plastic balls. Cosmetics are oxidized when they come in contact with air, so preservatives are inevitably included in both high-end and low-cost cosmetics. In order to solve these problems, COSBALL has focused on the above products. Of course, to solve the environmental problem that comes from plastic balls, COSBALL uses degradable plastics extracted from potato skins.
Now we developed skin reporting application with COSBALL. When it scans the users’ facial skin, it will analize and provide personalized solution. To promote more users to use it, we set CTP rewards for the activities.
Ctomorrow is mainly based on healthcare technology. How do your project make connection between healthcare and NFT?
Now NFT technology is mainly used for art works’ ownership, but we draw the future that the lifestyles of people who take good care of their health can also be traded with NFTs. Of course, you may receive information like this from social platforms such as YouTube, but it may also contain some disinformation to increase your followers.
Then, if these lifestyle patterns are checked in real time and implemented as a kind of tradable recipe, I think that it can be more reliable than the current health-related content.
Also, we are preparing COSBALL and Factory NFT. This is to share the revenue generated by implementing ownership of the smart factory that produces cosmetics as an NFT.
Of course, I can’t guarantee that implementing this vision will be easy, but what I can tell you is that our project is moving with this goal.
Could you give your insight about the future of Blockchain industry?
If you ask people in the industry what they think will be an issue in the future, most say that it is not easy to predict. However, one thing is clear: the requirements for blockchain projects are now getting higher and higher. Gone are the days when people simply made a website and made a good white paper to invest in.
One thing in common with trends such as Defy and M2E is that they require complex mechanisms and technical skills from the project.
In the early days of Defi, there were many projects that benchmarked major projects such as Uniswap, but now platforms with much more complex functions such as options and futures trading are emerging one after another. This is a good phenomenon that the industry is gradually developing and people’s knowledge level about blockchain is increasing day by day.
Now, I think that projects with the right technology and the right vision will survive.
Do you have any plans to attract non-crypto investors to join your project? Because the success of a project attracts more investors who haven’t yet entered the crypto world. What are the plans to raise awareness about your project in the non-crypto space..
To be precise, you can use some of the services we offer without having to buy a CTP. An example is a skin reporting service.
Through the reporting service, you can purchase customized cosmetics from our partners. Of course, for this part, we also have partnerships with cosmetic companies and share some profits, so naturally attract non-crpto users to get profit in this way.
@mmbi55 Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?
We are global project, not local one. That’s why our registration is in Singapore.
We are in partnership with Global law office, K&L.
Also, we will promote more partnership with Global Companies in the future:)
Of course, with CTP, you can get discount for the service and cosmetic products in the near future.
@mmbi55 Can you give an overview of your Tokenomics, and the UTILITY of Token?
You can see the details in our whitepaper and official website.
Here I wanna say something about the utility of CTP.
There are many payment methods in the world. However, we are designing our business to offer the benefits of paying with CTP in the services and products of the companies we partner with, especially in the cosmetic sector.
The reason why you have to pay with CTP is that it is easy to set up rewards and, unlike fiat currency, you do not have to depend on a bank.
How do you plan to spread awareness about your project in different countries where English is not good? Do you have local communities like Vietnam, Indonesia, Thailand, Korea,.. so they can better understand your project?
We plan to launch communities in each country sequentially. Currently, we are focusing on English-speaking and Korea.
According to the roadmap, what is your most important next priority?
We see the potential of the NFT industry and are pushing to create various businesses based on it, so I think the launch of the NFT marketplace is the most important.