On the 19th of April Fuse Team joined the exciting AMA session held by GetBlock to answer all the interesting questions of our community. If you haven’t seen the video version of the AMA, you can simply have a read of this recap and dive deeper into the world of Fuse Network.
Maria (GetBlock): Hi guys, hi Carl, welcome to the Fuze x GetBlock session, let’s start with an introduction. I’m Maria the business development manager at GetBlock. GetBlock is a solution that allows users to access multiple blockchain nodes. We also provide BlockChain connectivity and all kinds of Defi crypto projects. Carl, if you would be so kind as to introduce yourself.
Carl (Fuse): Okay, so I’m the director of business development for the Fuze Foundation, and we’re partnering with GetBlock to lower the cost of entry for developers.
Maria (GetBlock): Great, thank you. We’re going to start today with our community questions. You know, there’s a decent amount of them out there. And thank you for posting these questions for us it was a very nice community interaction. I think we’re ready to start answering questions, or do you Carl have anything to add?
Carl (Fuse): No, no, it’s just nice to get a chance to talk to the community about projects.
Maria (GetBlock): Okay, so the first questions are to introduce the project in general. Can you provide information about Fuze’s ideas, values, and goals?
Carl (Fuse): Sure, I think it would be easier to explain if you divide Fuze into two parts. If you take that half, it’s more traditional, we focus on alternative payment options. For example Visa (indecipherable 30 cents from transfer, ability to do over a million dollars from transaction, over 150,000 transfers). It’s actually more of a goal in creating an inclusive financial system.
Maria (GetBlock): Oh, that’s cool, I didn’t know about the Payment System. Okay, next question, what are the unique features that make your company stand out from the competition? What are the most important traits that you can position as leading and that you are confident in? There are other blockchains and each has its own traits
Carl (Fuse): Sure, even though we do the transaction function, which is a simple procedure, we do it successfully. If you look at the business side, we have a lot of experience in creating channels We can create more serious channels. Regarding this topic, we can create distribution, integration and resale channels that create new solutions. This allows us to expand a little bit. We don’t have to train our guys in sales and marketing opportunities. I would like to clarify that there is a cultural exchange experience, which opens up access to innovation.
The second thing is that we are very flexible as a team. I think at this point Fuze has 6–7 “Bridges”. We’re very inclusive in terms of blockchain, we allow a lot of elements.
Third, we have a very good team. Our CEO stepped in when he was 22 years old. He’s offered a lot of solutions in terms of blockchain and bitcoin. In general terms, he’s been doing this for a very long time, 10 years offering new solutions. If you think about it, he’s constantly offering new solutions with bitcoin. There he was setting up a more centralized version of a cryptocurrency exchange. It’s all allowing more sources, more resources to the masses. It’s a sandbox where people are crossing barriers, we’re trying to reduce barriers so they don’t have to think about infrastructures.
Maria (GetBlock): Right, the next question is about decentralized finance. How does Fuze support Defi?
Carl (Fuse): Yes, of course. From a Defi perspective Fuse it’s currently supportive of protocols that want to bring their communities or come over and use Fuse, we try to connect everyday payments to the blockchain through leveraging a DeFi infrastructure to create a platform for entrepreneurs and allow them to turn their communities into valuable economies. The project’s primary focus right now is to establish an ecosystem that can merge financial transactions on top of the blockchain. WEare developing this in a way that does not trigger too much cost for the users while enabling a system that secures data privacy. And we can look for options, not everyone gets different opportunities, but we help get grants available, increase their workability, and help them get to market. We have an autonomous team from the Fuze Foundation itself. They make important decisions. We use centralized finance to be more mobile in the financial space. It also allows us to start, as I mentioned earlier, using innovative payment methods on the Fuze Network. And overall it’s like a platform, like a marketplace. They have partners and they use the service for financial transfers with small businesses. For example, they use transfers for deliveries to Liverpool. And if you think about the low cost, it allows us to get low prices and higher revenue, which is awesome. But also the utility tokens they create open up access to cashback. The tokens that give you cashback allow you to make purchases with them. For every dollar you spend at WallMart or Tesco, 10 percent stays in the local community. For example, 10 pence or 10 cents stays in the local community. This allows our community to stay unique.
Maria (GetBlock): That’s great! Now a question about validators. Why would you recommend becoming a Fuze Validator?
Carl (Fuse): So yes, validators are an important part of the securing of the Fuze network. We run a rode to the centralization, we’re not fully there yet. The last time I checked, there was 65 validators. We would like to get to a figure of 100 people, but we would have to do a lot to do that. But in theory, we would like to have skilled validators who can help us with strategic directions. We’d like a change in direction with tokens. But on the other hand, if you come to us and you want to do an Ethereum project, it can be a little bit costly because of the transactions. There are to possible ways: be part of Fuse Network, be Part of its direction of it. So if you wanna come on board there’s a possibility for that too.
Maria (GetBlock): Okay, now we’re in the middle of our list of questions and it turns out this is question 5. So, do you have any guides on how to run the daily Fuze service?
Carl (Fuse): Yes, we have a straightforward guide on how to set validators on the right path. There’s a script that you can use to get your activities started right away. So yes, there’s training there that’s quite simple. You don’t have to sit down and figure it out.
Maria (GetBlock): Does that mean that a person doesn’t have to be particularly experienced and that even an inexperienced person can handle it?
Carl (Fuse): Yes, it’s pretty simple, but you have to have a little bit of experience of course. I’m not saying that any passerby off the street can do it, but if you have a little bit of competence, it’s pretty easy.
Maria (GetBlock): Okay, what are the next plans for Fuze? Any plans, ideas or goals?
Carl (Fuse): Yeah, it’s good that you asked, right now we’re trying to change the way we look at Fuze. Right now it looks like a cheap network. Even though we are a good place, it is desirable to look more attractive to developers and project creators. We have a plan to develop foundations, train staff, and participate in more events. We want to be attractive to developers with and without their chains. That it would be a more favorable situation for them.
Maria (GetBlock): Okay! Approximately how many businesses are using your Fuze nodes and can you name the most successful ones?
Carl (Fuse): We have several divisions, and of course a lot of transfers go through us. I can’t tell you the exact number of businesses, but I can mention the biggest ones like Sushi, Beefy Finance and Voltage. I don’t know about successful ones, that’s subjective but I can notice that they are some of the most transaction-heavy. GoodDollar, of course, Fuse is the blockchain that GoodDollar operates its basic incomedistribution on; with transaction fees that cost less than 1 cent, GoodDollar foundation is able to fully subsidize gas and transaction fees for wallet users.
There are examples of extremely successful projects, the cryptocurrency financial space can be useful. As I said, validators can be useful in developing a business model.
Maria (GetBlock): Okay, let’s move on to the next question. It’s a little bit like the last one. What can Fuze be used for? In simple terms, explain how other projects collaborate with Fuze?
Carl (Fuse): I can give you an example, at a music festival we supported a payment system. As I mentioned, it’s an example of 150,000 transactions over a million dollars. That festival was in Thailand, and it showed the affordability of using Fuze.
Maria (GetBlock): Next question, maybe there’s some ancillary thing (in terms of using fuze features) that can attract new members to the community.
Carl (Fuse): We are in open access, continuous operation of equipment. We also have a very focused team that is able to support early project development. I think that’s the answer to the question.
Maria (GetBlock): Right now the market is very competitive, what is USP Fuze?
Carl (Fuse): I can’t say that we have a lot of transactions per second or the fastest transaction processing, but we have business driven lines and product driven lines, and that we want a very fast and clean way. So for example if your mother and my mother want to exchange money, they don’t have to understand how the whole process works. Basically, the most important thing is how we approach our clients. Our development team understands that we can’t develop a multi-layered payment system and that we have to make do with simpler payment methods.
Maria (GetBlock): Thank you, I think we’re done with the questions about Fuze.
Carl (Fuse): Yeah, it’s actually nice to learn the highlights of the project and go through it all with questions. Our community has some questions about you too, can I ask them?
Maria (GetBlock): Yeah, sure.
Carl (Fuse): I want to ask you about the project, can you tell us a couple of sentences?
Maria (GetBlock): As I mentioned earlier, GetBlock is a service provider of blockchain nodes. For example, you want to create a wallet and several ways to launch it. You can use your own nodes using different specifications and documentation or you can choose GetBlock and connect to ours through an API, it’s that simple.
Carl (Fuse): Why use the GetBlock API?
Maria (GetBlock): I think the most obvious reason is how quick and easy it is to connect to a node. For example, our users can use the tutorial on the YouTube channel to connect in literally 5 minutes. The second plus is that we provide access to different blockchains, if you are interested in another circuit, you don’t have to look for another way to connect and just find a similar one from us. You can also take a test to make sure that our servers are suitable for you. These are the main reasons.
Carl (Fuse): Okay, how is GetBlock different from other servers providing access to nodes and what is USP GetBlock like?
Maria (GetBlock): According to our research, every user comes to us with a different request and purpose. And sometimes it can be hard to connect to the right Node provider. Because if they could do that, it would be hard to get a specific Node blockchain setup. According to our policy, all users should be able to test the chain to get a response from the service and to know that it’s right for them. Another thing is that our team is always ready to fulfill any customer requirements, I’m talking about clusters with microservices, node monitoring and so much more.
Carl (Fuse): That’s fantastic. Thank you so much for answering our questions!
Maria (GetBlock): I think we’re done with the questions. It was a pleasure, see you soon!