We are delighted that David from Critical Complex Channel invited us to present the Iagon project to his community and discuss the latest updates on what we are working on with the team.

Watch the video on Youtube:

Check the detailed text transcript of AMA below.

Critical Complex David:

Hello, everyone. Welcome back to the Critical Complex Channel. Today, I have on the show with me the CEO of Iagon, Dr. Navjit Dhaliwal.

Dr. Navjit, welcome to the Critical Complex Channel.

Thanks for inviting me, David. Glad to be here.

Critical Complex David:

I'm very humbled to have you on the show. I'm impressed by the Iagon protocols network so far, the model you're building. It's very impressive to me. You have a lot of goals that you're trying to accomplish. And I think that is huge for a crypto project, a decentralized crypto project. And so, can you tell us about your background and how you got into crypto technology?

Yeah, sure. First of all, I got into crypto and blockchain in general in 2013. My background is a healthcare professional. So I'm a dentist by profession, but in high school, I took a lot of programming classes, including C++. So that's where my kind of interest in technology and innovative technology lies.

And that got me interested in reading into Bitcoin, back in 2013. So that's when I read the first kind of Bitcoin paper. I had to read it a couple of times to understand it.

And I immediately tried to implement that technology, more in the security aspect of the blockchain security aspect onto the healthcare sector.

That's when I first got into blockchain and first invested in blockchain as well. So it's a different time than actually. So you have to meet people in person to purchase Bitcoin. It was different. And now you get the centralized exchange and things like that. And obviously, there were a lot of issues with centralized exchange back then, but it still is in terms of regulation, compliance, but a different era back then.

And that's when I first came into the blockchain. That's when the first concept of Iagon began in 2013, using the security to, let's say, security or blockchain to implement it onto healthcare records: patient data, patient privacy, things like that. And that's where the initial idea started. And that's where we veered off in 2017 in a different direction.

Critical Complex David:

That's really cool. So one of the main goals for Iagon, I want to say main goals, but one of the visions is to provide a secure network or a more secure network, for healthcare filestores and things of that sort.

Correct. So what we wanted to do initially (with the application for health care, was not possible at the time)  timing and still, but we still  want to do it. Work with healthcare divisions and the healthcare sector is working on the compliance and the security aspect. And that's where we feel like we're going to be — bridging the gap between decentralization and compliance as well.

So that's one of the things that we focused on in healthcare, making patient data secure and accessible to only the patients themselves and ensuring that there is no any data leaked to third parties. And there's a big issue in the private industry and the public sector regarding how patient data is stored.

I've experienced that first hand and how patient data is very sensitive, but it's misused and miss-stored and not (always) correctly adhered to in terms of compliance.

Critical Complex David:

I don't have any experience in that field, but I would agree that there is a need for more security and data storage and the way we use consumer data worldwide. Everywhere in the world entirely. So what made Iagon want to create a decentralized cloud storage platform with the vision? That's kind of what you just answered. So I want to move on to the next question, how does Iagon differ from other decentralized cloud source platforms?

Yeah. There are a few things that we want to stand out from the competitors, and we do believe that competitors also motivate each other. So there is a competition, but they're also working in the same space together. And we're kind of the first movers in the space, and in the initial time being, we're pushing each other to develop unique platforms and unique ideas as well.

And one of the remarkable things that are about Iagon is more so in terms of compliance. We're focusing on GDPR compliance initially because we're located in Norway, and that's the initial idea to focus on that but eventually lead to other compliances. So while different countries have different compliances, we want to adhere to those compliances, and those regulatory compliance aren't going anywhere.

So many people want to focus on complete decentralization. That's another aspect of our platform is storage, compute, and AI. It's fully decentralized in all aspects. Mind you, that the compute and AI is not fully ready yet. That's going to be. We're working on it hopefully sometime next year at the beginning of next year. We'll release some news for you.

The other unique aspect that we're working on and not wholly finalized is a decentralized AI on the network. So instead of randomly allocating the shards, we learn the behavior of each resource provider. And resource providers you can refer to as nodes as well, and for each node, we know the behavior in terms of their performance, availability, trustability, and IP location.

For example, we can take into account renewable energy as well. So these different variables give that node or resource provider a particular score. And based on that score, we can allocate them the shards randomly but in a more precise manner.

So if the end-user wants to be GDPR compliant, we only send those shards or those tasks specifically to EU resource providers to be compliant at the same time and manage how the end-user wants their needs. Like if they want high performance, high availability.

Suppose they want to have a green footprint. So we only allocate the shards to research providers and nodes that are using renewable energy. And those are the things that we think that we differ on the front end. We also vary a lot from the competition.

We do not want  to take away from the centralized solutions regarding how their front is laid out. And we want to make it simple and easy to use for all users, including experts and including the regular Joe or the grandma that might want to store her files on a Dropbox, for example, to make it very simple and easy to use for everyone.

Critical Complex David:

That's awesome, man. I want to touch back on what you just said about the competition and things like that. I totally understand that. And I also see your point because when you have decentralization, you can't know that there is no competition. But the fact is for this sector, there can never be enough data storage. How could there be enough data storage, especially for decentralized infrastructure, so there can never be enough. They're all able to align together eventually.

There's always going to be competition. There's not going to be one on top of the other. There are going to be multiple, just like centralized solutions - AWS, Google. You have Dropbox, different types of companies that come out, and you're going to have the same in a decentralized space. There will be a few that succeed, and we want to be at the forefront of that.

Critical Complex David:

I agree with that. And another thing is that being user-friendly is very important because whenever you have, you have to realize, like there aren't 20 billion of me out there, people who understand and want to get involved and things like this. There's a lot of people who don't understand, and the more simple you make it, you say, hey, you can earn by doing this, and you can learn, or you can be safer by using this network and the more friendly it is. It's more attractive.

So, moving on to the next question I read in the Whitepaper, Iagon will support both - Ethereum and Cardano blockchains. Can you tell us more about that?

Yeah. So we are built on Ethereum initially, and we moved over to Cardano, right now. So we are working on Etherium in terms of the initial kind of concept, when we built out it was based on Ethereum, and now we're moving over to Cardano, it more fits our bill.

And I can go into that kind of a bit later in terms of why Cardano and why we chose Cardano. But (the short answer is) we want to be kind of a multi-layer.

We want to be focused on having choices for the user. So not just focused on one blockchain, but to be interoperable with multiple blockchains. And Cardano is our focus currently, and that's what we are focusing on, building  on Cardano.

Critical Complex David:

So basically, answer that. Why did Iagon choose Cardano? Is that something else you can cover?

Yeah, sure. There are a few reasons. We were looking into Cardano last year, and Cardano had many promises and many projects due. And in this space, it's normal to kind of extend deadlines and extend runways and kind of, maybe even recreate the idea.

And I think Cardano last year became a little bit more real in terms of the product.

They were already real, but the thing was that there wasn’t  substance for the kind of the developers and the end-users there that they could showcase or look forward to, in the near future, and that's what we're focusing on soon. And it also has short interoperability with Ethereum.

So a few reasons why we went on to Cardano, it's one of the most decentralized blockchains. Transactional cost is minute, compared to Ethereum for example, transactional speed much higher than Ethereum, for example. Interoperability is another reason why we went with Cardano.

Also, the Ethos of the Cardano really aligns with our ethos in terms of giving back to communities that can't be afforded these kinds of solutions or empowering people in terms of data storage.

For example, in Africa, it's very limited. There are not so many data storage facilities out there. So these are something that Cardano is really focusing on expanding and empowering and digital identity in Africa. So ethos also fits well with what we want to achieve as well.

We want to really help and empower the people that don't have the chance to be empowered.

Critical Complex David:

Right. That's awesome. I love that. So congratulations on the proof of the Burn challenge. Also, thank you for that. Checked out Charle's Video. Also, do you think the Iagon network will complement the Cardano infrastructure? Do you see other Cardinal projects utilizing Iagon cloud storage solutions to better scale and secure their network?

We've been in talks with multiple projects about it. We just want to be safe on our side. We want to have complete penetration testing, and we want to have audits before we actually kind of onboard them and also announce those partnerships and potentially announce those partnerships. So we are working on that.

There's a lot of organic interest in the Cardano ecosystem. However, we believe that not just in the Cardano ecosystem, there's a traditional space where resource providers are reaching out to us organically, which is great. There's a lot of good interest for Iagon.

We want to be safe from our side. And we want to make sure that the audits and the penetration testing are thoroughly done before we kind of release it. You can never be too sure. But we want to be as sure as we want to be confident enough to kind of release that before and then after that, we can release those partnership agreements as well.

Critical Complex David:

Nice. That's nice. I'll be looking forward to that information.

So how does Iagon implement artificial intelligence into cloud storage solutions?

Yes. That's the Alexandria protocol, and that's something that we're working on. It's not implemented currently. But that's one of the things that we want to implement. That is what I was talking about before in terms of what makes us different. It is learning behavior.

So it's machine learning and learning the behavior of each resource provider and different variables, taking that into account and giving them a score. So it's kind of a reputational model.

In that way, we can kind of allocate the tasks and charge smartly and better for the customer.

It's going to be called Alexander protocol, which we're currently working on.

Critical Complex David:

Another question I want to ask you is about the 'frozen lake.'
Can you kind of break that down for me?

So frozen lakes are something that we like too. It's an analogy we want to use a lot. Dr. Elad Harisson, one of the co-founders, is one that came up with this analogy.

So basically, what we want to differentiate from centralized, let's say, 'data lakes.' So 'data lakes' are basically pockets of data, and all the data is stored in this lake. So the lake has, let's say, a fence around it. Let's call it a cybersecurity fence. So if a hacker jumps over, breaks that encryption, they can swim in that lake, which means that they can collect all the information and retrieve anything.

That's how data leaks happen. I mean, it's more so because of human error, but that's how they happen because they're stored in 'data lakes.'

What we call our solution is a 'secure lake.' Meaning that if you have a lake, it's completely frozen and has a fence around it. And think of it not just as one lake. Think of it as many small mini lakes. When you jump over that fence, you meet a 'frozen lake.' Let's say if someone hacks that encryption and you meet a 'frozen lake,' which means that there's no way to penetrate that lake, no way to collect information.

Because the hash of that file itself is stored on the blockchain, it stays unbreakable. It's fully encrypted. It's encrypted. But it's not breakable at this time.

So that's why we call it a 'frozen lake' model. There's no way to access that data, even if they break into the first layer of encryption.

Critical Complex David:

So the cloud storage model that Iagon uses is similar to IPFS?

It's similar, but it's not exactly like IPFS, so we aren't storing it like IPFS. We are working on some file encoding as well, which might compress the file as well. So we might reduce the file size as well.

That is something that I can't fully talk about because we're still in the works and still haven't fully decided if we want to go that route. It's different from my IPFS, for sure.

Critical Complex David:

Okay. So this is the juicy part of the video that everybody in the community wants to see. I know there are three tiers to Iagon nodes. Can you give us some details about each tier and how they differ from each other?

So the tiers are kind of outdated. We wanted to update the Whitepaper a little bit. There are nodes, so we are focusing on nodes, but we want to approach a new way. Basically, it's going to be any device, any private device, so that it can be a smart device. Let's say your phone, your computer, your PlayStation, your gaming console. Let's say electric cars, data centers, obviously resource providers.

So anyone that has data or compute can connect to the network and provide their resources. And there will be a way to stake a certain amount of IAG. We don't have a number in terms of what that will be.

That's something that we will release when we have that information. But there will be nodes where you have to have a certain amount of $IAG to show that you are kind of vetted to the system. At the same time, you will have opportunities to earn $IAG not only for your resources. But also, for example, if you are staking $IAG tokens, you earn some of the revenue that's coming in from people that are using the data and the computer.

There are different ways you can earn using the $IAG token. But, again, they're not necessarily tiers per se, but nodes, and they're going to be like supernodes as well, which are going to be the people that are optionally verified.  

Verification is not a necessity. But if you do verify, for example, you'll be considered depending on how big you are. So your performance is different from other variables that I talked about earlier. So you could consider yourself as a supernode which way you can earn more.

At the same time, be on mesh networking, depending on where you are in the world. So you can have multiple different supernodes in different areas, not just in a few places.

Critical Complex David:

That's awesome. Very insightful. I wanted to touch on this for a second, so I know there are 1 billion IAG tokens, right. Total supply. And where is the circulating supply right now?

I think, circulating supply is around 33 million $IAG right now. So we're supposed to be releasing 10 million, but we haven't used any of the development fund. So there was a development fund as well. So that is actually allocating us 5 million $IAG per month now. So I think that the actual reported value should be close to 43 million $IAG.

But we are working on getting that circulating supply verified by CoinMarketCap and CoinGecko. So it will be more in line with what it is accurately right now.

Critical Complex David:

Are there any available supply curve details?

Yeah, there is definitely. We released that in one of the announcements, but I can showcase that you quote me on any social media or quote us on any social media, and we can share that with you guys.

Information:

🚀 IAG Token Distribution Schedule*

🔍 This chart intends to help Iagon community understand how the IAG token will be distributed according to our tokenomics.💡

⚠️For Information purposes only.
None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell tokens, product or financial instrument, to make any investment, or to participate in any particular trading strategy.

Critical Complex David:

Cool. Thank you. So we'll be able to provide computing power with cellular devices. You just answered that you kind of set a light bulb in my head when you said PlayStations and things like that.

That gives the network more ability to scale in more areas because more people will be able to get involved. It's up to the community to get the word out. So that's what we're doing here.

All right. Are there any current details on those requirements and the minimum amount of tokens for staking?

So nothing yet. I won't be able to ballpark it. We'll release that information, one that's available, and then we'll announce it through our socials, and that's something that we'll make a kind of announcement for it.

Learn more:

Community Update - Staking Model
We want to share an update on our staking model, which has been developed in cooperation with some of our partners. As of yet, the model has been finalised and we’re delighted to release a high-level summary.
Iagon Official BlogIagon Team

Critical Complex David:

Right. It makes sense. I know that you guys have it on the site, and I've seen in the Telegram that the nodes come out in Q1 2022.

So I'm very patient with the project. It's just I have questions from the community, and I want to make sure everybody knows I'm asking these questions. You'll have a Staking and Farming platform with various pools.

How does this technology achieve so many goals for one network?

So Farming has been scrapped. That's not something that we're going to be focusing on. We're going to be focusing on Staking, but it's staking with a purpose.

Let's say, if you stake $IAG tokens, you will earn some of the revenue that's coming in from data users who are using it for storage or compute. So you will be able to earn some of that revenue. Other Staking models that we're currently focusing on are like regular Staking; depending on how long you store it for and how much you store it for, you can have different access points.

We announced the Agora system recently at Cardano Summit, and it's like a tool that helps companies and individuals publicly share their files. It's like a 'reddit' for storage. But instead of a forum, the topic is the actual file. So the discussion is the thread of that specific file. So there will be different features that they could use and specifically get rewarded, for example, for organizing the Agora system into different categories, and, for example, staking and unlocking these features to use the Agora for free.

The utility is going to drive any token, and utility is very important. And that's why we're focusing on many different areas where we can help increase the value for $IAG holders.

Learn more:

Introducing the Agora Filesystem
We’re delighted to introduce our new filing ecosystem, which will be developed and curated in cooperation with our community members.
Iagon Official BlogIagon Team

Critical Complex David:

Awesome. I'm glad to hear that. I just noticed that because I want to say I read about 60% of the Whitepaper, and it said some things have changed, and it's not that it's outdated. It's just some things have changed, and being in crypto for a few years, I understand that. And at the moment, I'm trying to create my own project so I can understand how things can change.

So are there any other utilities that Iagon plans to roll out for the $IAG token?

So that's what we're planning on rolling out is the Staking and Staking to earn as well.

It's also the reward system for resource providers. So nodes that are providing the resources will be rewarded.

There's going to be also an ambassador program, which we plan to rule out, which, for example, early adopters that have kind of high capabilities will be rewarded more for spreading the word and also for providing the resources at the same time.

So those are the few things that we can share right now in terms of what we are planning to do.

Of course, we're always looking to create more value for $IAG holders in terms of utility. So we are focusing on coming up with more ideas, and there are some in play in terms of the initial concept state, but I don't think it's good to share that.

Critical Complex David:

Currently, I know of this project. I told my friends about it.

I can see the future of the Internet, the evolution of the Internet. And I can see how models like these are very important to that. It's important to the future of not just cryptocurrency. That's why I don't just say crypto because it's bigger than crypto. Its data storage, digital marketing, connection, social media, and everything is messaging, its currency, the way we move money, everything will change with this. And so I see this is very important. And like I said, no one is a good model when I see it.
And that this is the first decentralized cloud source platform to be built on Cardano. And I found that to be very interesting and very insightful.

So I'm glad that I could speak with you, and I just want to congratulate you on such a great project.

Everyone, this is Dr. Navjit Dhaliwal, the CEO of Iagon, and welcome. Thank you for coming to the show.

Thanks, everyone. Just reach out to us. You can also check us out on www.iagon.com.

Feel free here to ask us any questions on Telegram or even Twitter, and we'll be happy to answer your questions. All right. See you in the following video, guys. Bye.

Don't forget to💡 subscribe to our YouTube channel and stay tuned with us.

About Iagon

Iagon aims to revolutionize the cloud by developing a storage platform (designed for the Cardano Ecosystem) and a processing platform , where anyone can profit from shared resources. The whole value proposition circles back to the potential of blockchain technology by letting device owners join the storage and processing power grids in order to create a completely decentralized data cloud and supercomputer.

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