As promised in a previous AMA session, Tectum held our weekly AMA on the 27th of June in collaboration with Galxe. While the prior edition focused on answering general questions, we delved much deeper on June 27th. The team also updated community members of significant changes to management staff members.
To ensure optimal backend development and proper communication with the community, the team is undergoing some personnel reshuffling. This will ensure that individuals who have the perfect blend of experience on the technical front and community engagement work towards creating intuitive products.
The Tectum AMA held on the 27th of June was so impactful that we held a repeat session on the 28th of June. For those who missed both sessions, this report will bring you up to speed with all we have been doing so far. Keep reading to get all the essential details.
Tectum AMA on 27th June: Highlights and Talking Points
The team has ambitions plans, as we work towards launching the Tectum public blockchain. This is a very ambitious task, and the team wants to ensure that we do not fail to deliver on our promise. While we have encountered a few challenges, the team continues to put in the necessary work to ensure that we stick to all promised deliverables.
Tectum blockchain has three levels, whereby nodes validate transactions. In this regard, the team is designing an API that writes to all three levels of the blockchain. The team has been working with several partners to ensure that we deliver a perfect product to our community.
Tectum, the fastest blockchain, has a unique architecture that demands various updates if we are to scale growth. Therefore, certain team members will be working with the devs to ensure detailed technical development. While products like SoftNote Wallet and SoftNote Bills already function optimally, we intend to make them more user-friendly.
With the team focusing significantly on product development, there has been minimal marketing efforts to communicate our plans properly. However, we are at a point where the API and SDK are almost ready for testing. Therefore, we have are re-evaluating how approach to maintain a balance between creating excellent products and communicating with the community.
In the past, several projects have properly communicated their mammoth plans and goals to their communication. However, most of these startups failed when executing their idea. Tectum wants to ensure we do not fall short either on the marketing or technical side.
Considering that technical development is demanding significant attention, we are reshuffling members of the backroom staff. Tectum is introducing David track as the new CEO, as he is well versed in the Tectum industry. On the other hand, Mark Ross will be the new head of Mass Adoption.
Russel Sean, will take on the role of Chief Technical Officer (CTO) to oversee technical development and ensure that Tectum products are intuitive and user-friendly. Trevor McCarter will continue in his role as the Chief Operations Officer, with more focus on technological development as well.
Plans for Mass Adoption of SoftNote for Payments
After his introduction, Mark Ross shared his vision for promoting SoftNote’s mass adoption. Since the launching of Bitcoin several years ago, people are still unable to use it for retail purchases. This is a significant issue, considering that Bitcoin was designed as a currency – medium of exchange.
Nowadays, most people typically buy Bitcoin and store it in their wallets. It is unlike some years back, when people were purchasing pizzas, groceries and regular items with Bitcoin. As such, the state of crypto transaction defeats the purpose of its creation.
Unless people start using Bitcoin for retail payments, Bitcoin cannot use crypto for retail payment. However, there are significant
As the head of adoption, Mark will share the vision with the larger community. He further emphasized how much potential SoftNote has, especially with relation to its market cap. Unlike other blockchain companies, Tectum is working towards complementing Bitcoin and other cryptocurrencies as against competing with Bitcoin.
Considering this factor, Tectum has the potential to extend Bitcoin and cryptocurrencies. In fact, this product can also support the FinTech industry by offering instant and free payments across international borders. This is as shown in the record-breaking testing event, whereby we used SoftNote instead of transferring cryptocurrencies.
Potential Partnership and Other Updates
Tectum is working on and already getting incredible responses with various prospective partners. We are currently working with cross-border remittance companies. These firms handle international payments and currently seek efficient ways to expand their services.
While talks are ongoing, we are positive on announcing new partners in the coming months. These organizations firmly believe in the potential of using SoftNote and Bitcoin for global money transfers. They agree that this is an excellent alternative to avoid dealing with the exorbitant SWIFT fees and transfer latency issues.
As mentioned in previous updates, we are still working on introducing VISA and MasterCard crypto credit cards. We are getting closer to enabling people to spend their SoftNote and cryptocurrencies directly and hassle-free. We will announce to the community once we have a launch date.
Tectum AMA 27th June Questions and Answers
Following the end of this AMA, participants asked the following questions:
Will there Be New SoftNote Bills Anytime Soon?
Yes, Tectum is exploring various tokens that are in high demand to create SoftNote Bills for. However, these tokens must be built on blockchains that enable them to have their own private keys. This is essential for creating a trustless and scalable medium of transfer.
Are There Any Plans for Solana?
Yes, Tectum has intentions of implementing Solana SoftNote Bills. This will support SOL (Solana tokens) and other tokens in the Solana ecosystem. The team is currently working on it.
What is the Update on the If Nodes?
There have been some challenges to the If Nodes recently. Nonetheless, these issues will be fixed within the coming weeks.
Will Tectum Become a Layer-1 After Going Public
The intention of establishing Tectum is to create an efficient layer-1 network where developers can build their own projects. While we have built a layer-2 project, SoftNote, on our blockchain, the aim is to show how scalable our network is and promote mass adoption. So, YES, Tectum will become a layer-1 network after going public. In fact, it will become a large ecosystem comprising cross-border payment companies, medical institutions, data firms and so much more.
Can Tectum Oversee Three Protocol While Launching the SDK?
Three Protocol is a self-sufficient project that is successfully managing its operations. Nonetheless, we still continue to provide them with necessary support as a product of Tectum Labs. That said, the team effectively manages supporting three Protocol while building the SDk for our public blockchain.