This Friday, we had an awesome night with Banyan Network (BBN). From all the genuine questions we’ve collected, we’ll take them into consideration. We hate to do this every time, choices are always hard to make. Here are questions we’ve chosen, can’t wait to share with all of you.(some questions may be edited slightly for grammar and readability.)

Let’s rock on!

Q1: What is the utility of the BBN token?

A: BBN is the payment token of the data products and services in the Banyan ecosystem, for example, the transactions of data services(by calling API), transactions of data tools usage(data processing models), transactions of resources usages(computation resources), as well as the voting privileges of the data governance rules

Q2: Do you plan on building 3D facial recognition into your verification into your DVN? Considering many smartphones will be standard with 3D facial ID overtaking current fingerprint tech.

A: This is a great future application direction we can head for. But we would need data sources and service providers that can plug into our DVN.

Q3: People worried about their privacy, how do you make sure the data you collect from your user is being put into the good use? Is it visible?

A: We strictly follow GDPR, an european standard we are following, this means users need to opt-in first, otherwise it’s illegal to use users’ data. Users can also opt-out at anytime. User’s privacy data will not be visible.

Q4: What is your end user product? Do you have one?

A: We are now focusing on business products such as Multi-Trust-Connector(MTC), however we are planning one end-user product and it’s in our development pipeline, hopefully will have an alpha released next month.

Q5: As a person who knows little about tech, I want to know how does it affect me as an end user?

A: Our alpha product facing end user will be released next month, and this product captures sentiment keywords from end users towards a token.

Q6: By Precision marketing, do you collect data, and use for marketing?

A: Data sources are connected and plugged into our DVN, as well as we collect data ourselves, then we fuse data together for precision marketing.

Q7: Which model will you include in the upcoming data governance platform?

A: Not sure what you mean by model, but we are putting tasks for the community to get involved with data cleaning and data tagging in our data governance platform.

Q8: How does Banyan Network stand out compared to other date projects?

A: If you meant comparing us with other blockchain big data projects, our unique differentiation is to use blockchain technology to connect and fuse data sources.

Q9: Will BBN getting soft-fork,like ETH/ETC?

A: There’ll be no fork.

Q10: Since BBN all about data, is there any conflict about being decentralized and being GDPR compliant?

A: Yes, there might be conflict about “The Right to be Forgotten” in GDPR with being decentralized, since data might not be deleted once it’s onchain.

Q11: For public, how do you introduce your product? Will there be a meet-up recently?

A: We are designing a global ambassador program that will have more promotions online first. Once we have enough ambassadors in each country, we will organize a roadshow meetup in different countries.

Right now we don’t have an end user product yet, an alpha version of an end user product will be released next month. For now we have a business product called Multi-Trust Connector, more info of MTC can be found here: https://medium.com/banyannetwork/product-release-of-the-multi-trust-connector-cb62e33860dc

Q12: How would you go about acquiring clients that need the data for precision marketing?

A: Since we have a few really strong super data sources from financial institutions, we will start acquiring customers from financial industry starting in September. Our team has a solid background in the big data industry and our data sources are very attractive to many financial industry players.

Q13: How do you make sure your DVN can be readable to all users in the format of a Key-Value?

A: Since the data services and products in DVN are generally encrypted and use by authorization, they are often not readable to users, however we will have data governance protocols and tools that will be released in 3 months, which might be user readable.

Q14: So is this an app like we can install to our browser and phones and will gather our data and we earned BBN?

A: We don’t have an app like that yet, but will plan one this year. For all fans who become Banyan members, they will be rewarded with BBN when their data is used. This product is to be designed.

Q15: Where are you now on the road map?

A: We are in the process of plugging data sources into our DVN. A couple of our latest medium articles include 5 super data sources that were recently plugged into our DVN that can cover billions of Chinese users.

Q16: What marketing strategies are you planning in next few days to get more investors and exchanges (which ones)?

A: Starting today, there is an event to split 1 million BBN on CoinEx, details here: https://www.coinex.com/announcement/detail?id=99

See you next round, stay tuned! 😎