Sri: Wow thanks a lot LooTz that was a great introduction. Thank you, I am thrilled and excited to talk to you about Utrum today.
Lootz: I am excited too because I been waiting for something like this because you know the problem is a lot of people getting scammed and its horrible right now. The more BTC goes up, the more scams come out of the woodwork. So we need something to combat this.
Sri: That is the actual reason why Utrum was born. So I would like to tell you the story if we have time about how it started. Back in August 2017, I was a active Komodo community member. I used to hang around in komodo in those days, and then that was the beginning of the Antara rise today. They are starting to advance blockchain and now can create blockchains in a few minutes. So that was the start, and I know we can do something like that, but then in august one of my friends contacted me and huh crypto was a boom and Rita was going gaga over the market returns. She was excited, and she knew I was into it, and she asked me the question. “So what is this crypto about and how do I start ?” so than being a long-time crypto community members, we are not aware of the problems other people face when coming to crypto investing business. This is how the conversation started, and she asked me, “What should I do now?”
I said ok what you have to do is go to CoinMarketCap and see the top 100 list or top 20 whatever you want to buy go ahead and do it. Then she said what now, I noticed the price and some are going up and some are going down. I said ok and visit the website. Since the technology and the Jargon, they have used, she had no idea what the project was about. Then she asked me what now, how should I know the opinion of people. Like what are they saying is it good, bad, ugly. What? Then I said ok you have to go the twitter, go to the facebook, have to go to the Reddit, have to go to the slack/discord whatever. Go around and try to get an opinion, and she did again listened to my7 advice. SHe said clearly people are saying many things. Good/Bad.
So then bitcoin boom happened later, and there were scams during that part of the time. She has seen a coin go up and was excited to invest in that coin. I said don’t do that it must be a pump/dump and should be a scam. Then she said, ” How do I know if it is a pump/dump or a scam ?” Then that how these questions from her started in my mind that we are community members and we know crypto operated, we know that there are pump and dumps. We know all kinds of things in crypto. Whatever people do come for the first time and what are they going through. Then I understand there is no resource in crypto where people can understand what’s happening I the business and industry and how should we identify good ones from the bad ones. So that’s how Utrum Idea is born in my mind, and I shared those ideas on slack in those days now we are in discord. Then I shared the thoughts and JL said why don’t you start working on that and huh he gave me a channel and after that Chris and Ruben these two guys who wrote the white paper along with me. They joined me, and we built a project where people can understand what is going on in the street. They have a clear picture; they have analytics. So 9its like this we want to build a one-stop place where people can understand what the project is about. Most of the time the situation is this, there is no lack of information there is a lot of information. But its been doctored and there is no analytics, and you cant identify what is right and what is wrong just by looking. You have to spend hours upon hours, so really we want to solve the problem and that how Utrum is Born.
LooTz: You’re correct. When you find the coin, you like going and investigating it takes a long time. You have to read through 30-40 pages sometimes on bitcoin talk to realize what is going on with the coin. Besides the fact that you are not sure you can even trust the information cause a lot of pf people, they create fake users and they talk to themselves making like it looks like many people are talking about the project, but it’s not its just one person they are excellent these days. You have to be very, very careful, it’s dangerous, it is dangerous. So you came up with Utrum that the name of the project rite, how did you get that name?
Sri: that’s a good question again, so still from the start, we name the product as Trust Factor. People wanted to know if projects were trustworthy or not, so we came up with the name trust factor. The first channel name JL777 Created was trust factor. Some people came and told me that the trust factor is the right name, but it sounds like you are an authority. This is a community project, and the name sounds like an authority, but we want to build a community project where members can post and vote on the contact and that how we want to do it. We don’t want to be an authority. So then I started looking for names, and I landed on the Latin term for Utrum, what this means that the meaning of the Latin term in English. So the people are trying to select the coin so that how Utrum is born.
LooTz: Very good, so now we understand the idea where it came from, how it was born. What you motivation is to do this just like me, we have family members and its hard to advise them. They come into this world, and they get scammed, and they don’t want to look at it anymore. They get turned off. It’s hard to build trust in a community because there’s so much distrust. So if you are a excellent coin it hard for you to get out there and get noticed because all these scams make it hard for new coins, tell us about your Team? Do you have a team that’s helping you with this or is just you?
SRI: no no no we have a tremendous team actually, when we started September we released the white paper in 2018 and then sailed in may and by august we had a CTO, CMO, and 2 front end developers and 1 backend, 1 designer, 1 support, we have 6 badgers from different countries. We have French, German, Turkey all kind of things. So what happened during the bear market brought a down period and umm we thought that ok crypto is not going up anytime soon we have to cut our budget because we know that our project is vast we need to have the developers working so we had to drop our CTO and CMO in November. Since then I am taking care of those two roles, rite now we are a six-member team — the rest of us with us.
LooTz: So Utrum has a great website we will get into the site in a minute. Is there a coin related to this website?
SRI: Oh yea, THeir is a coin called OOT, and theirs another story behind that name. Utrum is called in Latin as thrum, so we took the first three letters from that name and names it OOT. We call it OOT
LooTz: THat very well thought out, I done think anyone would go back to the Latin derivative.
SRI: Ha ha ha ha you know it happened that I am a kind of so that’s how the name came up.
LooTz: How do people earn some of these crypto coins?
SRI: Yea ya there are many ways to do that, and our total supply million and as any komodo project we have equihash, and we are secured by delayed proof of work. Two hundred sixteen million is the total supply. Even though Coinmarketcap shows 64 million we had a whole wallet then we unlocked the rewards, and 10 million is currently circulating supply.
LooTz: So those are the specs of the coin, so it’s an Equihash coin. Its protected by DPOW. If you guys out their don’t know what that is that is a protection against 51% attacks that are liable to happen on coins that are over mined by a centralized location.
SRI: Kudo’s to the Komodo Team and Kudos to JL7777. Awesome development
LooTz: JL777 he is a genius, I understand why he stays anonymous.
SRI: We call him AI; he is not a human.
LooTz: So I was looking at your website it is nicely developed. Can anyone log in rite now is this open to the public?
SRI: It is a private beta rite now actually the whole website has been done by June, but I decided the design was not up to the market. The design you are seeing right now is not the design, it was a little old and outdated then I found out a lot later when presenting something perfect it has to be looked after. So then I spent a lot of money and time, and we came up with this design. Yes anyone can log in but not rite now by August 10 we are going for the public beta, and anyone can log in. Utrum Members, I am going to put it on social media so they can come and check it out and have fun with it.
LooTz: Awesome, so August 10 fellas that’s pretty soon. On the website, there is something called a Trust Factor Protocol? What’s this about? You know what before we get into that let’s get the idea of the site. So the purpose of the website is on August 10 anybody will be able to log in and create reviews on their favorite coins… am I correct?
SRI: ohhhhh you are missing a whole lot of thing there, they can do a review, they can write a prediction, they can make a very detailed report, they can check every coins news, they can come and check every coin event. They can check every coin team information. They can check code status; they can check social status; they can see the price information, anything and everything Utrum is a one-stop place for your research. Whatever you want to know in crypto it is there on Utrum. As simple as that. Everything is available. All you have to do is search coin name or token, and that’s it is all possible. And if you have enough knowledge about a crypto coin you can write it. The best part when you become a contributor you can earn the crypto OOT. We are a reward platform for predictions and reports. So you can either write 4 of these things or 1. But the best part is the community members are auditing all your content. If they like, then you will earn a reward. Otherwise no. If you receive five votes for you post then you get a bonus if you don’t, then that means the quality of the post it’s not good so you will not earn any rewards. Even the voter makes a small amount so poster and voter can receive.
LooTz: So it incentivizes people to do a good job. That’s fantastic. So you won’t get spammed if its bad people will vote it down, but if you do a good job and put your heart into it, you can get some coins. If people like it that’s how you earn the coins.
SRI: yes. Exactly. And I want to add one more thing. We are introducing a blindfold rating. What it means is this for three days whatever you are voting you cant see one of us is voting. Because this is a wild thing whatever in friending they want to vote on that so they can earn a reward. So that messes up and cannot get good results when people do this kind of stuff. We are not going to display voting for three days, so you are voting, but you don’t know what others are voting. So at the end of the three days then reward comes out. If you are medium or average only then you will earn from voters.
LooTz: Sound like some blindfold parties I used to go to.
SRI: I have seen this rampant on steemit. People vote for one post, and the other they don’t bother. Then two thing will happen. One they will vote wisely because they don’t know what others are voting that doesn’t impact their conscious whatever they think they will vote. There is no human influenza that one thing second thing you can’t vote on a trining post you don’t know what’s happening even you vote you don’t see the rating does it match your score or not you get the correct results.
LooTz: Does this tie in with the Trust Factor Protocol?
SRI: Yea, so what happens now is like ok huh their all kinds of bounty people all types of voting or paid promotion kinda people they want to predict a coin and they want to see that the coin rating goes up so these people will definitely affect our whole process system because other users are depending it when we say that you can trust Utum, so we had to take some measures sooo we stop fraudulent practices and we have introduced the prospect algorithm and what it does is this. So we checking for two things one is time-based and distributed. So we check for the spikes in our time-based pattern, if this spikes suddenly that means that a group of people come and started working it. So we want to check using an algorithm. We check for the pattern here so human verification can be done. The same thing with the distribution some people might post excellent because it is their coin and their friend post and want to increase that voting. So they might only post great excellent, or they might even post harmful for other currencies too. So these posts are being manipulated, so we have somehow to get human verification done to allow it or dont allow it. Or if you identify that there is a fraudulent practice going on, then we discard those votes.
LooTz: Time Verification Idea is pretty good cause typically what people will do is buy someone from fiverr.com or some service to do the work for them and usually it is in a period when that happens. So if you see that spike, you can pinpoint the fact that someone is manipulating it. If it goes to 100 votes from 0 all at once, then someone is managing it. So this helps with the problem where if someone creates 100 accounts and tries to manipulate it, you have these algo’s in place to….
Sri: SO there is 2-factor authentication for posting and voting unless you enter the code you cannot do it
LooTz: ok ok
SRI: Every time, he has to enter the code, and that is an enormous task for any guy.
LooTz: so there is no gaming the system.
SRI: That is what we are trying to do LooTz we are trying to stop fraud and manipulation. It takes time to train these AI machines. I would say 90% they will do a great job.
Lootz: So on the site a seen a list of the coins but did not know a lot of coins, how would one get listed if they wanted to or if I don’t see the coin I like how does it get there. Does it get pulled from the coin market cap? How do you determine what coins get listed on Utrum?
SRI: Yes, this might sound crazy but we want to verify any and every coin for publishing on utrum so I thought so that we can have excellent coins only but then I thought that this will take a lot of time and many coins will not be interested in listing with use cause we are new none knows us… all these things happen. So since cmc has some verification we published the coin on CMC if you are not on cmc sont worry we have a link you can apply for listing. All you have to do is click on that, and we verify you, and we list your coin.
LooTz: Theirs a lot of good small projects coming out
SRI: we still figuring out the pricing for new coins that are not on CMC.
LooTz: Pricing is usually a significant barrier for a lot of coins
SRI: once we start the project we will figure out away
LooTz: When someone applies for a new listing will they be able to use this as a springboard instead of using the bitcointalk or bitcoin garden would this be a proper place to start since its such a verifiable type of platform.
SRI: YES that is the idea
LooTz: What kinds of advice can people expect from utrum
SRI: We are making a playground for crypto investors. What happens now is we want people to like you like House or people who know cryptos they have to come in and pitch in. You guys have to write, and others have to vote. This is ultimately a community project