Thank you to the NanoNews Community for participating in Ask Me Anything (AMA) with Sparkle Coin February 3, 2021. This guest star Victor wong, Founder of Sparkle Coin. If you were unable to join the live AMA, no worries, here comes our 105th AMA recap!
We are glad to meet here:
Victor Wong , Founder of Sparkle Coin
For taking your time out from busy schedule for the AMA!
Q1. Could you give an introduction of yourself And how you can play an important role in Sparkle Coin?
I have been an inventor, entrepreneur, and futurist since a child. I have founded a number of successful companies that have fundamentally changed the world. The first company was one of a handful that was authorized by Apple to make Mac OS compatible computer systems. We produced the most powerful Mac OS computer ever back in 1997 and was the first company to offer a “bare-bones” configuration whereby the end-user can add their own RAM, hard drives, and other components. On the software side, I also founded a company that used Web Objects from Apple to create one of the first web-enabled business management software applications. This software powered online commerce for companies like Lucent Technologies and even the LBJ Presidential Library and was marketed by Apple to its enterprise customers.
After this I founded Open Labs, which was the first company to create a complete all-in-one music production station powered by a computer and Windows, which was integrated into a musical keyboard. Our products included the NeKo, MiKo, and DBeat and was used by many artists and producers to compose and perform music including: Prince, Madonna, Faith Hill, KoRn, Maroon 5, Timbaland, Polow Da Don, Lil Jon, Michal Jackson, Linkin Park, Teddy Riley, and many others. One use example is all the keyboards on stage for the Super Bowl performance by Prince were from my company. We were instrumental in introducing the world to music production and performance using computers, which is now the norm.
Currently I run several technology-based companies including Music Computing, a maker of large format touch screens that are used by companies including Capital One and National Instruments, and government agencies like DARPA, and in boardrooms and trade shows worldwide. We were the first to produce multi-touch capabilities for Windows based computer systems as well as the first to produce any touch capable screens for Mac OS. Another company I currently run is Victor Racing, which makes Smart Active Aero products for cars. Our latest line of products won a Best New Product Award at the SEMA show in 2019 and is currently being used exclusively by the U.S. Touring Car Championship racing series.
In 2016, I also founded SparkleCOIN, a blockchain and cryptocurrency technology company, which is about to make some large announcements as it is being rebooted into the new Cryptocurrency Era. Our goal has always been to help cryptocurrencies be used in daily transactions.
Q2. What is Sparkle Coin? And how is the story behind the Sparkle Coin Creation?
SparkleCOIN the company, is unique because we are not just a blockchain technology company like many others. SPRK, the token, is only part of the solution that we have created. Around SPRK, we have developed a sustainable hybrid PoW / PoS blockchain, sophisticated transactional software, integration with various platforms, and services that are designed to work seamlessly together to move values from the virtual world to the real world and back. -DONE-
Q3. What is so exciting about Sparkle Coin, which might make Sparkle Coin different from all other projects out there?
We were able to resolve the biggest issues with using cryptocurrencies for daily transactions that has to do with the speed of the transaction and the fact that cryptocurrencies are too slow because of the confirmation times. The SPRK Awards Platform is a turnkey end-to-end solution for the exchange of virtual assets and fiat currencies by means of a stable token valued at $1 and any number of cryptocurrencies with constantly changing values, governed by the SPRK token. The solution includes business methodologies, software technologies, integration, a blockchain, and direct real-time transactions with the world’s largest cryptocurrency exchanges. The SPRK Awards Platform can be utilized by any company that has a virtual economy such as gaming, company loyalty rewards, and even brick-and-mortar businesses.
And also the variable price.
Host: Sounds Good! SPARK has a very good and fast protocol
Victor: No, not that… It has to do with the dual ledger system we use.
Host: Nice! So is SPRK already registered on CEX or DEX?
Victor: $SPRK is only currently listed on SouthXchange. We parked the token there when the cryptocurrency market crashed in 2018, but we will be listed on one of the biggest exchanges in the world in the next few weeks.
Q4. Please provide some information about your Roadmap, How Sparkle Coin is progressing so far? And what Sparkle Coin is currently focused on?
Here is a summary of what our 2021 roadmap looks like. It is specifically designed to increase uses of $SPRK and demand on a large-scale.
Q5. Please tell us more about $SPRK (Sparkle Coin) Whaten! What utilities does the token have, and what benefits will tokens holders get?
Our first client partner for the new SPARK Awards Platform is in this is a music download company with normal revenues in excess of $140M annually ($36M last year during Covid-19). They will be using $SPRK in their transactions for their sweepstakes, which amounts to approximately 2/3rds of their annual revenue and will directly drive demand for $SPRK on the third-party cryptocurrency exchanges by placing buy orders for $SPRK. There will be a ramp-up to this amount as they will be transitioning a number of locations and customers over time.
Q6. What are some achievement that Sparkle Coin has achieved so far? And what are Sparkle Coin upcoming plans, Especially in 2021?
We have achieved a lot since 2016 when we formed the company. By 2017 we developed a sustainable hybrid PoW / Pow blockchain, the $SPRK token, a cryptocurrency exchange that we wrote from the ground up, and an online shopping site that allowed visitors to buy products from Amazon and Walmart using cryptocurrencies. This was done when we conducted our ICO that was live streamed from Techcrunch’s Disrupt San Francisco event. Our ICO ended with $SPRK trading at $35, then in open trading on the exchange, it traded up to $68. After that in 2018 the entire market crashed and we were able to keep the company running and continue to develop technologies when over 95% of the other companies went out of business. Today, with the return of the market, we are releasing a new product / service and have large waiting customers…
All of the development in 2016 and the new development were funded by ourselves…
Some of the technologies include:
- Trade Execution Engine
High performance trade execution engine that supports pluggable matching algorithms. Out of the box, the engine supports FIFO, Pro Rated and hybrid FIFO + Pro Rated algorithms.
- Crypto Payment Gateway
Payment gateway that allows merchants to accept Bitcoin, Ether and SparkleCOIN. Compatible with online shopping carts including Shopify, WooCommerce, and others.
- Crypto Payment System
Payment gateway system that allows any merchant to accept cryptocurrencies via online POS as a standalone terminal.
- Crypto to Fiat Conversion
Automated system that can communicate directly with multiple cryptocurrency exchanges to trade between cryptocurrencies and fiat currencies in real-time, locking in exchange rates across the transaction.
- Token Generation
The platform enables issuance of custom coins/tokens based on SparkleCOIN Blockchain.
- Product Aggregation Engine
An advanced, configurable product aggregator which fetches products from Amazon, Walmart, and other ecommerce providers and makes them available in ecommerce platforms such as Shopify and WooCommerce
- Automated Order Processing
Backend order management for integration with Amazon and Walmart order placement and tracking. Automates the ordering process with autofill, submission, and tracking via a web browser interface.
- Secure File Share Platform
The platform enables sharing of files securely among participants. All files are encrypted at rest and security of keys and proof of timeline security is provided by SparkleCOIN blockchain
Host: Thanksyou for answering.
But, How about DeFi? Can you please tell us your opinion about them and are you focusing too on this Product? DeFi is growing rapidly in Early 2020-untill now
Victor: DeFi has been growing since 2020, but it is never going to replace traditional financial networks. We are interested in both and want to be the bridge that connect these two different platforms.
Q1. How safe are this curency are hacker have a chance to be used for scammed?
Our blockchain is very secure. The SPRK Blockchain is a Mainnet so we are not an ERC-20 and do not use smart contracts, which in some cases can be hacked.
Q2. Reading about Sparkle, I saw that you recently established a partnership with Kairon Labs. Could you tell us what was the purpose of this partnership and how you hope this collaboration will help your development?
Kairon unlocks the following short and long term benefits:
- Increased organic volume
- Mitigating heavy price fluctuations
- Price appreciation by reducing the liquidity risk for traders and speculators
- Deeper liquidity across your exchanges
- Better exchange listings
Here is a tweet about it: https://twitter.com/SparkleCoin/status/1354060219135873024
Q3. You guys are building among other things an Interoperability Network, can you explain a bit how this works and what the advantages are compare to the existing networks/cryptos?
Because we have to connect to virtual economies and also traditional financial platforms, we had to create a dual ledger system. On one side it is proprietary so it can connect to the legacy accounting and other platforms of the traditional business and on the other side a distributed ledger to the outside world. In the middle in the SPRK transaction engine that uses a $1 stable token (that is only a ledger entry and not a cryptocurrency) and #SPRK to move the value back and forth between the two worlds.
It is also possible for the SPRK Blockchain to talk to other blockchains, but we have not needed to do that yet. -DONE-
Q4. How distributed ledger technologies (DLTs) act as a transformative feature in financial products and market infrastructure, and why does SPARKLE place emphasis on distributed ledger technology? How are DLTs used in the Sparkle ecosystem?
DLT is the SPRK Blockchain that allows transparency and all the other benefits that it inherently has. We use it because it’s a new technology that will grow more and more in the future, but again, we are not solely dedicated to DLTs only. We are the bridge that connects DLTs to traditional financial platforms. The world has both and we want to make them work together
This is an important point….
Many companies only focus on DLT and they make everyone think DLT is going to replace everything. This is just not going to happen, so they only make products and services using DLTs. When they approach real companies, they then realize that companies don’t want to use only DLT. In fact, most of them can’t. So these developers have half the puzzle solved and that’s why there has not been wide adoption of DLT only products and services for any traditional company.
Q5. Many projects create a native tokens which can be a bridge between multiple blockchains and multiple technologies, is this what SparkleCoin is looking for through a stable tokens valued at $ 1 and then exchange it for SPRK? why not directly use SPRK as bridge tokens?
$SPRK and any other cryptocurrency cannot be used directly in daily transactions because of the volatile price and the transactions are too slow waiting for the needed confirmations. We solved this problem by having $SPRK being able to be exchanged in real-time with the $1 token that is a ledger entry, which is stable priced and can be transacted instantly.
Q1. Do you think community is important? i want to know more about your opinion. Does you planning to also grow the community of SparkleCoin or no?
We operate under the mantra that we know a lot but not everything so our community is very important to us. They provide us with important feedback and also help us to get the word out about the things we have created and offer. We recently hire SK Chain, one of the best marketing and community building consultants for the cryptocurrency market out there. In just the last week, we have had hundreds of new people join our telegram group and engage the company actively. We are very excited at this and will be expanding this program to grow our community even more.
Q2. But by now, what is your main focus?How did SparkleCoin manages all this services without sacrificing the others?
Our main focus is to keep developing new technologies and creating real products and services that will bring more uses and demand to $SPRK. We have been able to do this by working very hard and putting in our own money into the project. In just the last few weeks we put over $500K into the company to develop the SPRK Awards Platform, hire all the consultants, pay for cryptocurrency exchanges, etc…And we will probably put another $500K into the project within the next 90 days.
Q3. You organized a very useful AMA session and received lots of questions related to utilities and technology, visions of the future, So now I want to ask you what would you like to receive from the community?
The most important thing we want to received from the community is trust. This is something we have worked very hard for and we hope we can do enough to receive that. Next to that is knowledge, as we want to listen to our community and have them help guide us. Finally, we would like our community to help us grow by spreading the word about what we have done and what we hope to do.
Q4. Southeast Asia is a very vibrant market and most exchanges are competing campaigns here to entice users and grow,with Axie you see how Southeast Asia is and do you plan to develop & expanding here?
Yes, we have big plans for Southeast Asia and Asia in general. I have conducted a lot of AMAs for groups in this area and the new huge exchange we are going to be listed on services the Asia region.
Q5. Adoption & Awareness about Platform is very important for any Creator as well as Users! So, What are your plans to attract More users as well as Creators with Non-crypto users too ?
This is a very good question. We already know people interested and familiar with crypto will find us and other cryptocurrencies. However, the vast majority of people in the world don’t really know crypto and many don’t even care, so we focus on building products and services that utilize blockchains and cryptocurrencies but don’t force the users to learn about blockchains and crypto. They just use it because it works great. But because they use it, they create more uses and demand for $SPRK so everyone wins.
- Website (https://www.sparklecoin.com/)
- Twitter page (https://twitter.com/sparklecoin)
- Facebook group (https://www.facebook.com/SparkleCoin/)
- Telegram chat group (https://t.me/SparkleCoin)
- Telegram announcement channel (https://t.me/SparkleCOINannouncements).
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