Interview with KwikTrust Executives on the Future of E-validation, NFTs and How KwikTrust is Uniquely Positioned to Capitalize

KwikTrust e-validation platform is the next generation. It offers more security and better management of files than any other.  SuperNFT is also available on the platform. This class of NFTs raises the bar in security, identity and trust. It opens the doors to new asset classes, including finance and deeds. KwikTrust’s vision is to become the global standard for managing and transferring assets in the digital world. KwikTrust’s executive team was available to talk to us about the e-validation platform and the NFT world. We also discussed how KwikTrust plans to lead its future through SuperNFT.

Q: Please tell us the story behind KwikTrust’s origin and your current position. 

Simon Read, CEOWhen I worked on the purchase of another business, it was slow and difficult. It was difficult and expensive because of the amount and quality data that had to be collected, reviewed, and validated with third-parties. There must have been an easier way! At the same moment, I started to become interested in blockchain technologies. I signed up for the Oxford Blockchain Strategy Programme (Obama Blockchain Strategy Programme) to find out more.

The perfect way to verify the data and make a secure record is with blockchain. With the advent of NFT technology, we’re really just at the beginning of many exciting opportunities for people to create and transfer digital assets. KwikTrust’s business assumptions were tested by an attorney firm. He suggested adding KYC to the KYC process in order for the creator of the asset to be verified and that it is recorded on the Blockchain. From there we saw the opportunity to lock together the owner’s validated identity together with the provenance of the asset they created to form a transferable NFT. We call this the SuperNFT as it is more secure than the traditional ‘old school’ NFT as it can’t be lost or stolen, and it has the potential to open up new asset classes. For the SuperNFT, we also submitted a patent application.

KwikTrust’s vision is to become the global standard for managing and transferring assets in the digital world. Our MVP was launched last June. We now have over 100 registered users, who are currently pilot-testing with us. Looking ahead we will be issuing the KwikTrust KTX utility token in Q1, and have a slew of partnership announcements over the coming weeks culminating in the minting of the world’s first SuperNFT which we plan to do at a major NFT conference in March.

Q: Which are the biggest challenges facing the NFT industry?

Simon Read, CEONFT market growth is very exciting, but it has been limited to digital art. The NFT must be extended into other asset types in order to realize its true potential. It can serve as both a store value for financial assets or deeds to ownership of digital and physical assets. The current challenges plaguing the NFT space are that people don’t trust NFTs enough yet as a store of value higher value assets because tokens held in digital wallets can be lost or stolen. While you may be able to buy digital artworks on NFT, what about your savings and share portfolio, or deeds to property?

NFT sales reached $592 million in the week to date (source). However, the market is still dominated by digital artists, which is still a small fraction of the transactions that occur across property and financial markets. KwikTrust believes that NFTs will be able to store and transfer any assets you desire. However, trusting NFTs is essential for people to have confidence in them.

Q: What can SuperNFT do to change the NFT landscape in general?

Simon Read, CEO: The NFT market is still in its relative infancy and we haven’t seen the true potential of NFTs yet, beyond the digital artworks that we are seeing today. It has a lot more potential as a value store.

The SuperNFT locks the owner’s validated identity to the asset. This technology has the advantage that it prevents NFT theft and allows for quick return to legal owners if lost or stolen.

It is an important step forward for NFT markets as it establishes trust in NFT technology and opens up new asset classes. In the future, we will see more assets – digital and physical – represented as NFTs.

Q: Which are the most current SuperNFT uses? We would love to hear about exciting partnership opportunities that you may have.

Simon Read, CEO: Our plan is to mint the world’s first SuperNFT at a major NFT conference in March. There are many options that we can evaluate, including artwork donated by major artists to charity. This collection could be used as SuperNFT or sold as fractional ownership DAO.

A project to help preserve rainforests is also being considered. This will provide an opportunity for local communities to own rainforests to avoid deforestation. The creation of an insurance product on SuperNFT is already under way.

Other use cases we have identified include recording property deeds as a transferable digital asset; recording intellectual property origination on the blockchain with a  date and time stamp and linking it to the inventor’s identity, and storing financial assets such as stocks, shares and bonds on a SuperNFT as transferable digital assets.

Q: What value does the KTX token provide to SuperNFTs as well as to KwikTrust’s platform?

Simon Read, CEO: We’ve designed the KTX utility token to be the central element of the KwikTrust ecosystem. The SuperNFT is the primary purpose of the KTX. The demand for the KTX will increase as the SuperNFT is used more.

We also have technology that can be utilized by marketplaces and platforms. They will need to have a minimum balance in KTX of 5,000 to integrate SuperNFT and the KwikTrust protocol into their network. The KTX can be used for many other reasons, including discounts and offering token holders other incentive programs. To reap the greatest benefits, it is recommended that people hold onto the KTX longer-term.

Q: How will you grow the KwikTrust customer base and community? Docusign is no longer the best e-validation platform. You are now the leading e validation platform for both retail and enterprise clients.

Christina Ashley, CMOKwikTrust is a better company than DocuSign because we are a blockchain-based, secure solution. We used blockchain technology from the beginning, unlike our rivals. In essence, we aren’t trying to make an old solution fit a new model. The problem was approached from an entirely different perspective.

We are determined to be the leading platform for digital signatures and e-validation. Our plan to do this is simple – Continue to provide cutting-edge solutions that incorporate innovative technology and meet users’ needs. We’ve already taken that step with several features and now the SuperNFT has us poised to completely shift the NFT market paradigm.

In terms of clients, both enterprise and retail – initially, we focused on building out use cases for the legal sector. This allowed us to focus on development and outreach, but we now want to expand our reach into other areas. Upcoming pilots and partnerships include cases that can be used in entertainment, legal, healthcare, fitness and charity sectors.

With the launch of the SuperNFT, new partnership announcements, an ambassador program that is set to begin in the coming weeks, aggressive marketing campaigns, and a stream of product development, you’re sure to be seeing a lot of us.

Globally, KwikTrust has a new education strategy to help everyone benefit. It will not only help users who are already familiar with blockchain technology, but those that may be unfamiliar as well.

KwikTrust is ready to continue developing and growing.

Q: How is KwikTrust’s governance structured and how may it change in the future with the dawn of DAOs?

Yasir Qayam, COOA DAO can be described as a programable group of people who form around a shared goal and help to foster an emerging online community. The current state of DAO’s is generally centralized, however, the DAO landscape is swiftly changing. The future will see a shift in the way individuals work for large companies. Instead of just work-to-earn, people will be able to “create-to-earn” alongside work-to-earn. This will require DAO’s that can coordinate these tasks in a “non-traditional” manner. Contribution to different tasks will determine the earning potential.

KwikTrust already leverages many of these features for marketing and content creation.

The token will enable token holders to vote for features in the future by using the KTX token. We will be able to use the token to recognize ecosystem members.

40 percent of the KwikTrust tokens are given to the community. This allows us to recognize the contributions and increase user engagement.

We’re excited for the possibilities that blockchain technologies will bring and are thrilled about SuperNFT.

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