Onboarding and Subscriptions¶
How is the onboarding process for the customers that are not familiar with crypto?¶
Currently, we are hand holding our customers on a case-by-case basis as we engage in customer onboarding and discovery. This enables feedback to be quickly flushed out enabling immediate course correction.
If companies are not willing to enter cryptocurrency markets, they have the option to pay with fiat (or their preferred currency) through our partner Trustology.
One of the hurdles we have experienced, is related to simplifying the entire cryptocurrency onboarding effort. We learned a lot during our roadshow in New York City and we have found that most institutions simply face the difficulty with entering the cryptocurrency space to be too overwhelming. Trustology was a major component in this ongoing effort to remove friction and provide a better experience for our customers.
What happens to the VXV in the customer’s wallet when the customer decides to stop their subscription?¶
If a customer cancels their subscription, we are currently intending to follow best-of-breed practices used by Amazon, Google, Microsoft and others when it comes to managing ‘usage credits’ or ‘credits’ in general. Nothing is written in stone and remains fluid which means we are open to outside innovation.
Has the team considered adding a “middle man” to the ecosystem? Hybrid, crypto-based companies “leasing” their VXV to clients, thereby decreasing friction for end users who might be apprehensive to use or hold a crypto token.¶
The VXV team does not need to do this when there are billion-dollar companies using VXV to acquire datasets which make them money. These are the kinds of middle men that the company is looking at.
Are there any plans to build Vectorspace AI’s own subscription exchange?¶
Absolutely, for now Amazon is offering such a service asking for a 15% cut in revenue. We decided we will wait on that part. In the meantime, as soon as engineering resources are unlocked, we will place it in the pipeline.
Why the need of a token instead of a normal fiat subscription?¶
Machines incentivized to transact feature vectors for the purpose of minimizing loss (or increasing signal/alpha) is one of our goals. We have opened up a few of our API services to the public that will help accomplish this. At the same time, there is a small cost we absorb associated with each API call related to CPU, cloud services, bandwidth, storage etc. Using token wallet-enabled APIs enables us to rate limit, cover costs and provide unlimited tiers of services based on token amounts held in the wallet-enabled API keys. As tokens are essentially programmable, that opens up a world of possibilities in terms of funding and supporting our research, products and customers.
In addition to that, placing changes in data and changes in calculations is customer requirement and we handle via the Data Provenance Pipeline (DPP) hash as described in our VXV wallet-enabled utility token credit network on slide 10 in our main deck. Data provenance on chain combined with the fact that programmable money is key innovation. It is almost just as important for us to maintain a public trading vehicle with access to a new and truly global capital market place for ourselves and our customers. Data provenance and lineage is extremely important to our customers and to the process of constructing datasets.
Why is VXV not a stable coin pegged to the dollar?¶
VXV is not meant to be a currency, it is a utility token, designed to appreciate in value, like a stock. More subscribers, more coins out of circulation because the customers must have the VXV in order to power up their API calls.