The WeBlock community hosted an AMA (Ask me anything) on the 3rd of September, with Sungmin Yoon, the CEO of the Paparazzi platform, as the guest.
This live AMA session was a big insight into the Paparazzi platform, as the guest explained in-depthly about the system and its benefits.
The details below is the discussion had throughout the live AMA session, and was simply edited to ensure a clear understanding.
QUEST INTRODUCTION
Sungmin Yoon is the CEO and Founder of the Paparazzi project and has extensive experience in the gaming industry.
Before starting the Paparazzi project, he was the former CEO of Netmarble IGS. Netmarble is one of the top four leading gaming companies in Korea. He is dedicated to decentralizing the content sharing industry and leading blockchain mass adoption with my experience of upscaling projects.
About Pazzi:
Paparazzi is a photo-centric blockchain-based platform to provide a seamless process of capturing, sharing, and trading a graphic memory.
UGC is an important part in Pazzi!.
HOST Q&A SESSION:
Aina@WeBlock:
Q1. As Pazzi mainnet and Beta service are expected to be launched soon, what is your plan to promote Pazzi and expand its user base?
Sungmin Yoon: Yes, we’re nearing our beta application. The team has never been more excited than before. During our beta service, we are soon preparing a global community program to better increase the exposure of the platform and our project. Concurrently, we also believe it is important to let more people know of PAZZI by listing on reputable exchanges. Tomorrow, we are excited for our listing on Bithumb Global. Near our beta application launch, we plan to have a better outreach to all users.
Aina@WeBlock:
Q2. What are the killer features of Pazzi? Why should people use Pazzi rather than popular applications like Instagram?
Sungmin Yoon: Because existing social media platforms like Instagram do not provide options and methods for users to have a separate revenue model. Paparazzi is the only application that offers a decentralized revenue model where users can generate and get rewarded by quality content.
Aina@WeBlock:
Q3. As we know, in the Pazzi application, there is a mileage system called PASSPORT. What are the functions of PASSPORT and how would users benefit from it?
Sungmin Yoon:
PASSPORT was initially designed as a function within our wallet to integrate with other mileage providers and systems. However, PASSPORT is now evolving beyond as a function within the wallet. It is a DeFi sector within the ecosystem.
Aina@WeBlock:
Q4: As Pazzi is developing its own DeFi product, could you please tell me more about the product and the DeFi oriented ecosystem?
Sungmin Yoon:
It’s actually more than just a product. The Paparazzi team is involved in incubating a DeFi platform that will integrate within the Paparazzi ecosystem. It will integrate with some of the services that we have already designed and built.
Aina@WeBlock:
Q5.What are your future plans in the Pazzi
DeFi ecosystem in context with your recent partnership with WeBlock(A full-service blockchain accelerator) which has good marketing and branding resources ?
Sungmin Yoon:
For any service including Paparazzi and our upcoming DeFi product, user acquisition is key. We plan to consistently expand our ecosystem via partnerships with strong, established companies and communities. We’re really excited for next week.
Aina@WeBlock:
Q6. What are the three keywords you would use to summarize Pazzi achievements in the first three quarters of 2020? Could you explain the three keywords one by one?
Sungmin Yoon:
Global Expansion, IPFS Integration, and Buyback.
For Global expansion, we are consistently increasing our presence in the cryptocurrency community since our first launch on BW.com. We’ve gone on to list on one of the most reputable exchanges in the crypto space. Secondly, we have completed the integration of IPFS modules for powering a true P2P application. We are now not hindered by blockchain technology in powering our application. Thirdly, our $500,000 USD worth buyback program is consistently ongoing as of the moment.
COMMUNITY Q&A:
1.The TPS battle remains one at the core of blockchain solutions, what’s your TPS
Sungmin Yoon:
This is why Paparazzi implemented IPFS onto the application. A lot of different blockchain-based projects like to boast about their transaction speed without having a concrete product that generates a lot of transactions. For us, IPFS implementation prevents the application from slowing down.
2.Eth has a very high gas fee because of DeFi on fire, how does $PAZZI guarantee low gas fee?
Sungmin Yoon:
Our proprietary blockchain will prevent such high gas fees.
3.Which market does PAZZI active mostly right now? Does PAZZI have any plan to expand its market in Vietnam in the future?
Sungmin Yoon:
Yes, we are consistently expanding into different countries including but not limited to Japan, Vietnam, Europe, and more.
4.What is the biggest challenge you face currently in terms of becoming a successful project?
Sungmin Yoon:
Competing against existing social media with a cryptocurrency implementation will be the most difficult challenge for the Paparazzi application.
5.We are aiming for three-four more additional listings by the end of the year.
Sungmin Yoon:
We are aiming for three-four more additional listings by the end of the year.
A great opportunity was given to the Weblock community members to interact with the Pazzi CEO, Sungmin Yoon, having their questions answered by the guest.
At the end of the AMA session, 4 winners were announced, to whom rewards will be disbursed in due time.
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