KuCoin AMA With Astra Protocol (ASTRA) — The World’s First Globally Patented Decentralized Compliance Layer Designed for Web3 and Crypto
Dear KuCoin Users,
Time: January 16, 2023, 11:00 AM - 12:11 PM (UTC)
KuCoin hosted an AMA (Ask-Me-Anything) session with the Chief Innovation Officer of Astra Protocol, Sakhib Waseem, in the KuCoin Exchange Group.
Official Website: https://www.astraprotocol.com/
Whitepaper: https://astraprotocol.app.box.com/s/3nr5wliismk55tqfqdbyte14n6bxn7ko/file/1049074613207
Follow Astra Protocol on Telegram and Twitter.
Guest
Sakhib Waseem — Chief Innovation Officer of Astra Protocol
Sakhib Waseem is an experienced technology expert in the financial sector and a blockchain specialist. Sakhib has worked with numerous top tier financial groups such as Bank of America, National Australia group and actively advises governments, designing and implementing transformative blockchain technology-driven solutions from inception. Sakhib has played a leading role in the design and build of several enterprise technology platforms, for significant financial regulatory bodies across the globe. He is extensively experienced in designing blockchain applications and networks and has been an active thought leader in blockchain since 2016. Outside of actively designing and implementing technology platforms and networks, Sakhib has been actively investing in cryptocurrency since 2014. As Chief Innovation Officer, Sakhib leads the design, build and implementation of new and innovative products at Astra Protocol.
Q&A from KuCoin
Q: Can you briefly describe the Astra Protocol?
Sakhib: We are the world's first globally patented decentralized compliance layer designed for Web3 and crypto. Crypto grew into such a huge industry so fast! Such a remarkable technology we have at the present moment. But, as we are all aware, a huge number of scammers, shady money, and high-profile issues lead to massive pressure from governments worldwide.
There has been a global push for tighter rules and more regulation. But legacy technology doesn't fit crypto. So we designed ASTRA. A way to remain decentralized but also compliant. A way to keep scammers out. Remain decentralized, and bring in major institutions. Everyone here is tired of KYC, so we designed a new system that allows you to complete it. Faster, more secure and stay shielded in anonymity while compliant.
Our service covers over 155 countries, 300+ sanctions, and screening lists, and it has massive real-world partners like KPMG! So we're bringing more trust to crypto without losing decentralization. Now, our token is live on KuCoin! We have created the best team in the industry, literally. With massive names like Phil Hogan (former trade commissioner from the EU). Mick Mulvaney, ex-Chief of Staff to the Whitehouse, and a team of tech geniuses to deliver the product. So, we're truly excited about driving the next biggest wave of adoption.
Q: What is Astra's mission, and why Web3 needs Astra's compliance technology?
Sakhib: We hit a real wake-up call last year. Massive scams hit all the press, and governments and regulators just sat back and watched. It hurt everyone, but we were busy building, looking at all these issues, and developing our service and pipeline of customers so we could bring more trust to crypto. Thanks to our solution, regulators will no longer be able to say it's a shady industry. We have been building and delivering on our goals to ensure this industry returns. Bigger, more resilient, and ready for the next wave. This time, without the scammers and support from major finance. Something all of us Hodlers have been praying for. That's the reason for ASTRA, the reason for our solution.
Q: Astra protocol has significantly grown with massive attention regardless of market conditions throughout 2022. How do you summarize all the Astra achievements, especially that of 2022?
Sakhib: Astra Protocol is probably the first Web3 company to headline WallStJournal, which is insane seeing the mainstream media. We are starting the year with the Astra Protocol compliance hub launch in the Sandbox Metaverse. We raised funds, over 9x subscribed, and we also made headlines on Coindesk!
Mick Mulvaney is our strategic advisor! Renowned media outlets Bloomberg and Coindesk reported on the former White House Chief, joining Astra Protocol as a strategic adviser.
When everyone was firing staff, we were expanding. Astra forms Significant Partnerships Despite Market Challenges- wrote Yahoo Finance as Astra teams up with two premier developers in Limechain and Concise Software.
KPMG, a leading global audit and accounting firm, also formed a strategic alliance to support Astra in completing KYC & AML for Astra's Decentralized Legal Network.
Dan Stein, Editor at Hackernoon, and Sakhib Waseem had a detailed discussion on regulatory compliance for the Web3 space through some interesting Q&A on Astra's DLN, ASTRA token utility, and more.
To wrap up some other huge partnerships, Mick Mulvaney and I joined Mario Nafwal Twitter space following Elon Musk and CZ. It has been a busy year for us—a lot of missed sleep and long days to bring this to the community. But everything's so worth it.
Q: Can you tell us about the ASTRA token, its utility, and how the community can benefit in the long term?
Sakhib: Our token has a fixed supply of a 1 billion hard cap. So apps and users can buy our token. Stake them and gain access to our platform. On the other hand, big platforms buy large quantities of tokens, lock them away to use ASTRA, and make their platform compliant.
We do three things:
Provide rewards to the stakers when they extend.
Burn tokens to increase scarcity.
Provide rewards to DLN validators.
Anyone who believes in this industry will become a mainstream believer in what we do.
Q: How Astra assures and guarantees user anonymity while offering ultimate safety?
Sakhib: Without getting deep technical, crypto apps can't see your identity but can see that you are KYC approved. Legal companies can't see anything in crypto about you, not even your wallet address, nothing blockchain. However, it can infer that some people are not criminals and are unidentified. Only you, as the user, can see both, and that's how it should be.
Q: Please share some development updates on Astra products with our community.
Sakhib: The biggest thing right now is our platform launch so stay tuned! Also, if you believe in ASTRA, do your research, and you'll believe in a safer, more mainstream crypto industry. KuCoin made it easy for everyone to get their tokens, and you can spot trade now.
Free-Ask from KuCoin Community
Q: What is unique about ASTRA that is not found in other projects released so far?
Sakhib: The Astra Protocol's Decentralized Legal Network (DLN)
Q: Where is this ASTRA coin listed?
Sakhib: ASTRA is now available on KuCoin and MEXC.
Q: How can a newbie understand your project easily?
Sakhib: We have a bunch of easy videos to make it simple to understand on Astra Protocol’s YouTube channel!
Q: What do you mean when you say Astra Protocol protects crypto from scammers?
Sakhib: Would a scammer give them ID and KYC on a platform? I don't think so. We are keeping the criminals out the next time they try to scam using the service application that can already detect risks.
Q: What are the benefits of holding your token as a long-term investment?
Sakhib: You become part of a community that is critically needed for this industry's growth. Infrastructure and regulation are so important as well.
KuCoin Post AMA Activity — Astra Protocol (ASTRA)
🎁 Participate on the Astra Protocol AMA quiz now for a chance to win 10 ASTRA!
The form will remain open for five days from publishing this AMA recap.
Giveaway Section
KuCoin and Astra Protocol have prepared a total of 2,000 ASTRA to give away to AMA participants.
1. Pre-AMA activity: 400 ASTRA
2. Free-ask section: 50 ASTRA
3. Flash mini-game: 400 ASTRA
4. Post-AMA quiz: 1,150 ASTRA
. . .
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