us today. This is Kondo Insider and I'm Jane Sugimura. I'm your co-host for this show. This is the show for condominium residents and board members and people who deal with condos. We deal with condo issues and we have a really interesting topic today, new technology, which I'm sure all of you will be interested in. I know I live in a high rise and we've been trying for years to get PV coverage and we've been told we can't do it because the building is too dense and now there seems to be a solution for that and our my guest today his name is Stephen Walecki and he is an independent PV consultant and Steve tell us about yourself. Thank you. Well first of all thank you for having me on the show. I am originally from Milwaukee Wisconsin kind of similar to Hawaii in many ways very friendly people weather's a little different but the people seems to be pretty pretty similar. I've lived in Hilo and installed solar over on the Big Island really love Hilo. I've worked for Hawaii Energy here in Honolulu for a year and recently been working for a contractor and now I am doing some independent consulting. I've also I would say one of the most interesting things about me sets me apart from people as I sailed across the Pacific on a 30-foot sailboat. Wow. So when it comes to renewable energy I have lived off of solar panels for five years. I've lived off of batteries. I've had to catch my reign so I'm very near and dear to me renewable energy and off-grid living and all these things I've actually done it lived lived it have a little bit of insight into that kind of kind of lifestyle and we're trying to ultimately get Hawaii to ultimately function like a sailboat. Yeah. Well you know the state of Hawaii has established a deadline to be in energy independent. I think it's 90 what is it. 1945 no 20. 2045 right 2045 and 2035 for the university so the university has to be there 10 years before. And so you're going to be talking today about building integrated photovoltaic BIPV. BIPV. What is it. Okay so BIPV is something most people know about yet but it stands for building integrated photovoltaic. Voltaics. Okay. The main gist of it is we're taking normal parts of your building and turning it into solar. Like what parts of your building are you talking about. So we can take primarily what the technology is doing. We're taking glass generally windows is the the biggest thing that BIPV is. We can take your windows and replace windows with solar. Solar producing transparent windows. It looks like a window. You can see through it but it generates electricity. We also can use the same technology for lanai railings and lanai glass where before you just had maybe some bars and some lanai glass now we can put actual solar panels there that will also be transparent but they generate electricity. And the other final thing that is really out there right now is floor tiles. So if you have a courtyard out a pool deck or a courtyard we can actually put solar panel floor tiles that generate electricity as well. With the one with the floor panels can you walk on it. Yes the floor tiles are actually rated for their non skid rating is all handicapped approved. So it actually has a little bit of grit to it has a little bit of rough bump to it. You can actually walk with crutches on it. It passes national tests for that and it is a hard it's glass and absolutely it's there's there's a couple colleges so far in the U.S. that have it implemented so far in Hawaii. It hasn't been it hasn't been done yet. So we're trying we're really excited to get it out here and together. But are there any projects who have initiated the work to to install this type of product in Hawaii. Yes yes there are. We're working with a couple developers right now. There's the whole idea of retrofitting a building. It can be a bit clumsy and we're trying to do with new construction is really where this comes into comes into play. For a developer he can he can opt to use traditional floor tile or he can use a solar BIPV floor tile. So we actually have put together a proposal for for a new developer where we have actually shown that it's far less expensive to put in our solar floor tiles as opposed to the original sunk cost of regular floor tiles. So those should be rolling out fourth quarter this year. That sounds pretty exciting. But you know there's something in Hawaii with high rises.  The windows have to be replaced. You know the the sides are you know failing so that the rain is coming in. So and that is a big ticket item when you have to replace the windows in a high rise. Can this product be used to replace the windows that now have to you have to replace in a high rise. Absolutely that's actually the most exciting part of this building integrated foldable tax. Instead of going through the whole nightmare of changing or removing the glass and resealing it to stop these water leaks and put back your old glass is probably 40 years old which is kind of a standard age around here for glass. You can start fresh with a solar window. You'll get brand new frames around the whole thing. Tax credits actually over 100% of it is going to be covered in tax benefits. Let me mention how how much does all this cost. I mean is it more expensive than replacing it with regular glass. Yes so that's a great question and that's that's the biggest question. So it's two two answers. One is it's more expensive and it's less expensive. So the initial cost is usually one and a half to two times the traditional glass. However with the tax credits that are currently in place 30% is the federal tax credit. 35% is the state tax credit that comes up to 65% of the system is actually covered in solar tax credits. Except that condos are non-profits so they can't take the tax credits. So how do they get take advantage of the fact that tax credits are available. Right and this is a standard situation for condos and for associations. PPAs so a power purchase agreement is the standard way of letting associations access this technology and take advantage and monetize these tax benefits but through a third party. So basically a third party investor will come in and own the product and then sell you power. And so this has been going on in Hawaii for quite a while. Putting solar panels on the roof if you can't afford it you can still put solar panels on the roof another company will own it and they'll just sell you discounted power. So now you get solar and maybe save a penny or two on your kilowatt hours from from the utility. And what's the buyback what's the usual buyback period for for this if it were if you were to allow an investor to come in and pay for the glass to be put in and then basically lease it from them what is the buyback period. Well from there's in the PPA in the power purchase agreement there's buyout times and different times in the contract that you can purchase the the association can actually buy out the the whole system. The depreciation schedule out there right now is it's going to take five years for this asset to actually be depreciated. So we usually don't see the association's wanting to purchase this until after those depreciation benefits are taken out as well. So those depreciation benefits on top here 65 percent then the rest of it is actually this depreciation will come over 100 percent. So when investor will come in he'll put his money in say a million dollars put a million dollars into a glass project and he'll come out with a million and seventy thousand actually come out it's about seventy seven seventy thousand dollars above his initial investment. For the association of course the investor wants to make a return on his money so he can actually if you were the owner of the building and had all the tax liabilities yourself the payback could be under two years. We model paybacks from two to five years in those models where where you're the tax owner where you're the actual where you see your tax liability but if you're the association of course the owner the investor is going to shave a little bit of profit for himself and you can expect under ten year payback periods for the associations however we're still working on ways to get a little hui going within the association so if you want to invest your money into this little LLC then you can get a piece of those tax credits yourself. You're talking about the unit owners who live in that building could then be part of the hui invest their money in the hui which will be the owner of the glass. Absolutely. And and and get the benefits of the tax credit and the payback. Yes and we we think that's better than having having a mainlander investor. It would be way more preferable to have the actual tenant owners. Everyone say okay here's five thousand dollars investing and they're going to pull out a little bit over five thousand dollars in tax credits over the next five years. This would be the best thing for everyone. Everyone is tied to it. They have their new glass. They're getting the tax credits themselves and it's not mainland. I think that's and it's and it's part of your services as a consultant would you be arranging for investors you know because with with the association I mean they don't have the expertise or the wherewithal to go out and find these investors so would you the consultant or the contractor be the entity or the person who would find these investors. Yes so that's something else that we bring to the table we have high net worth individuals that have very large tax appetites that are trying to figure out what to do with their money right if they don't deploy this money they have to pay taxes and instead of paying taxes they can invest in renewable energy and actually come out with a bit of a minor but it's still a return and that's not even including the energy sales or the final buyout just the tax play alone is is really quite attractive. And are there people out there who would be willing to do this? Oh absolutely absolutely and I there's there's people Wall Street there's plenty of people with with tax appetites out there large banks large insurance companies that are looking for long-term investments and these are safe long-term investments for them tax investments. And so that they would come in and they would be willing to come and finance these projects in Hawaii for a condominium who wanted to put in the product. Absolutely so for 100 financing we can actually have a third party come in pay for the whole project and invest in the project put in a whole new building envelope for you and the payments the association will make will be lower than what they would be saving to try to do this project in the future. A lot of these HOAs and associations are trying to save money they might assess a new fee for the for the units to do these projects. Well by having a third party come in and doing it right now and taking advantage of these tax credits while they're here the association doesn't even need to raise their rates. In fact with all the energy savings they're going to get out of the the windows it's really a no-brainer. It's actually such a no-brainer that people still find it hard to believe. Okay so so that means that you know that the that the project if an association were to decide that they want to install this project uh the the contractor or you as a consultant would be able to arrange for the financing. That's right. And that the payback would probably be about 10 years or less. Yeah it can be under 10 years. And then and then it would belong to the association. That's right and those are all terms of of the people the power purchase agreement how that it is all negotiable everything's negotiable. If you wanted to as the association maybe had some reserves and said hey how about we put some money into this and we'll kind of buy down this power purchase agreement maybe we can do that. You can kind of depending on every building is different. Every building has different financial situations. Some people want a long fixed rate. Some people want a low a low beginning rate and a variable rate that's going to save them more money now so they can deploy to do other projects. It really depends on every every building is a little bit different but the money is there and there are investors that want to do it. The technology is there. You don't need to have a special assessment.  Right now is the window of opportunity. Pardon the pun but we have the tax credits right now. 30 percent in the federal tax credits right now are going to be going down to 22 percent by 2020. So that's an eight percent reduction just in the next two years and these projects take some time to get actually going to do a whole building envelope like this. This is not a quick feel so the permits the ordering everything it really needs to be starting now if you want to get in on these really amazing tax incentives. There's also the possibility of the hawaii state tax credit vanishing at some point as well and a lot of people after the net metering closed they felt oh why didn't I why didn't I do that.  And this is going to be a similar situation. This is the window of time to actually do these projects and get all these large financial incentives. Okay well we're going to take a break now for for about a minute and then we're going to come back and you're going to tell us how these associations can save money. Aloha Howard Wigg. I am the proud host of cold green think tecawaii. I appear every other Monday at three in the afternoon. Do not tune in in the morning. My topic is energy efficiency. It sounds dry as heck but it's not. We're paying five billion dollars a year for imported oil. My job is to shave that shave that shave that down in homes and buildings while delivering better comfort better light better air conditioning better everything. So if you're interested in your future you'd better tune in to me three o'clock every other Monday cold green Aloha and thank you very much. Thank you. Welcome back. This is James Sugimura co-host of condo insider and I'm talking today with Steven Walicky who is an independent PV consultant here. We're talking about BIPV. BIPV. BIPV. And so it's why why should we care? Why should we care about BIPV? Okay well as Hawaii we are we we're mandated we have to go 100% renewable by 2045 and most people don't even believe that's possible just because the current technology the bureaucracy behind everything and people are really how's this going to happen? It's doable with the implementation of batteries. Whenever we talk about renewable energy we always come to the same energy storage problem. So really every building out there has the potential to be off the grid. It's really they have no choice because now you can't be on the grid right? That's right so now the net metering is now cut down. The only way we can do this is the consumer self-supply. So at this point we need batteries and the batteries are out there. There are different batteries there's batteries of 20 year warranties that are non-flammable that are actually out there with financing as well. There's actually quite a lot of solutions out there that people just don't believe are out there but they are. And so when you put BIPV which is a project you probably need to do.  When you do those windows it's a great opportunity to also buy batteries. So the government will allow you to add so many batteries with the solar at the same time. As part of the tax credit? As all included in the balance of the system.   However if you install a solar system on your roof and put in the battery at the same time now the battery is included in that whole system. So that's the same thing with the building envelope and the BIPV. When you do the windows you're not only doing windows I we highly recommend to put the maximize your battery efficiency at the same time. Get as much battery as you can when you put in any solar because this is the future you need batteries. So if you put if you do a high rise and you're you're replacing all of the glass in the the windows where would the batteries be kept? So we can keep there's the parking garage seems to be the best place. We can also go into electrical rooms but really parking garages seem like the and how large are we talking about how large are these batteries? Well on a you know on a high rise building downtown here we're looking at I would say anywhere from two to four of these batteries which are about 40 foot containers. We're very large. However the very large building is a very large power consumption needs. Part of this is I'm sure you've heard of demand charges.  You might be down here for the rest of year but then in one moment you hit here all the pumps turn on all the things aligned and you had a maintenance guy that turned on every pump and everything just went poof. The utility says we have to be prepared for that amount of usage at any given moment if we're not prepared the whole grid will crash. So the demand charges are there to keep their grid up if instead of that by putting in batteries you're actually pulling from the batteries first before going to the grid. Now the end goal is to be off the grid but it is hard for a downtown building ultimately to do that. There are other technologies that we can implement to to basically get you off of the traditional utility. So the glass PV that that you're talking about or those or the PV that's in the the tiles would not only create energy to to operate the ongoing energy load with the building right but you could store excess yes and that's what the batteries are for. That's right. So generally that means if the power goes out if there's a storm that means that the building still has power. That's right. So you still can have the higher the building the harder it is. The lower the building the easier it is. If we have a factory we can we can actually put all roof solar to some windows and put a battery and actually get you pretty close to off-grid. The the other the piece of the puzzle that a lot of people are talking about right now it's really exciting stuff is co-gen plants. So the co-gen plant the solar windows and we'll still put traditional solar on the roof put out the the solar floor tiles. This whole package putting together is really you're going to is really going to get you to that point where you can unplug from the utility. The difference is that you're going to a different utility. You're not really going off-grid because you're going from perhaps these co-gens are using natural gas. So you're going from one utility to now the gas utility. However you're controlling your own power and you don't have these demand charges. And the co-gen plant is so efficient it's really amazing. The gas is pumped into the building and it turns like a generator like your diesel generators that most people have these big backup generators. It runs like that and the exhaust comes off and the exhaust actually heats up water. So instead of a power plant far far away where you're pushing electrons over these wires far far and then all this energy to move electricity you lose a lot of energy. But when you actually move the gas to the building and burn right there you get all the energy right there. You get the heat captured and put that into your hot water maybe into your hot into your pool. The anus generating electricity and in general these co-gen plants are actually more efficient than your boilers that you're using. So instead of just boiling water you're actually getting electricity at the same time. So what we do is we try to reduce the load in the building. First we can do LED lighting, variable frequency drives. There's heat pumps or we go into this co-gen plant at the end but the idea is we reduce the load then we produce as much as we can with the building envelope. And then we come in at the end and we can put in a co-gen plant to basically take care of the remaining load. So that you can store the energy for use later. So you can store the you can store the energy for use later and ultimately get to a point where you're energy independent or off the traditional utility and the goal is that we can actually get these buildings smart enough and reduce the amount of energy that you can actually live off your batteries. You're going to have enough energy produced for self-consumption and hopefully you have extra that you can put in. Now it is harder on higher buildings it is harder on a higher building but if you say have a four-story building that's a lot of roof space and a lot of windows we can there's a good chance we can actually do it there. The extra energy that's produced throughout the day that you're not using that goes into the battery and we sort of store that out for night. Okay now now comes the million dollar question. Yeah. How much does it save? What are the savings to the to the association? Of course of course. That's about that's the bottom line question. Yeah the the real deal is the more skin in the game you have the more you save. So in these situations where you own it yourself you really can save quite a bit. In one example we're looking at taking the building is $50,000 a year in electrical costs and we're looking at actually putting in a battery system and completely taking them off-grid completely. So they're going to say $50,000 a year. The thing will actually pay off in about two years and after that they're going to be saving $50,000 a year. Now that's that's a that's more of a factory setting. On a I would say on a regular base association think about saving about 60%.  If you have a central chiller we're going to reduce your chiller load. We're going to produce power as well. With one example say for example say you have a million dollar a year electrical load is pretty large but if you have a million dollars a year we can actually get you down closer to like 400,000 in your electrical bill. If you're still tied to the grid. Okay and that's in cost saving. What about maintenance? What's the system going to cost to maintain? Well this is the beautiful thing for association. Since you don't own it as association because we have a PPA we have a third party owning it and they're selling you the power. It's actually in their best interest to keep it clean. So this is one of the best lurking variables here is that the PPA provider the owner of the windows will actually hire glass cleaners to come and clean the glass for you. So how often does this have to be done? Well we say two times a year. We say two times a year but if the production we can remotely monitor what's going on and if we notice that is it's the production is dropping a good chance that it needs to be cleaned. So you're talking about maybe a 30-story building with all these windows replaced the the the the lessor the the entity that owns the windows while it's being financed by the association will have to actually come out and maintain it. This is a beautiful thing for associations because they don't have the risk they don't have to worry about it. It's actually the third party is owning it. But then after the the 10-year period is is is completed they will have to maintain it. Yes and so you can after the buyout after you would buy out the system then you can get into an O&M agreement with with us with other companies and you can actually have a maintenance agreement or perhaps even handle it with internally. But you you can get an O&M agreement usually around one to three percent of the actual cost per year you throw into an O&M agreement which is maintenance operating and maintenance. And so that would be like a an annual contract that that services would be provided. Sure and at that point you've already you've already bought out the system and now you're actually saving all this energy and you it's unbelievable when you look at these things over 20 years 30 years when you actually when you actually take this not these numbers and and you'll it's into millions and millions and millions of dollars of savings. And that's just in the energy savings. You also right away when you do this you you are familiar with the cap rate. You've basically improved and increased the value of this building immediately. You've dropped your operating expenses and you're still the same cap rate so therefore you just increased the value of the building. So now not only are you saving energy you just created more value in your building which means you can loan against your building more and move your money around even further. It's really there's really no setbacks to it. There's really no drawbacks. Regarding the system once it's installed how long does it last? There's different manufacturers of different glass. Typical warranty that I've seen out there with one of ours that we work with is five-year warranty and a 10-year production warranty. So most solar products have two types of warranties. One of them is your all-in solar manufacturer warranty and the other one is a output production warranty. So solar degrades over time. So there's two warranties. So far we've seen five and ten five-year warranty for just manufacturer defects and and then ten years would be it's guaranteed to be at 80 percent of what it was originally producing. Wow well geez you know we're running out of time and that that really went fast. It did go fast. So you may have to come back and update us and give us more information about you know where this technology is going. But thank you to the viewers for tuning in and next week Thursday at three three o'clock please join us for another episode of Condo Insider. Thank you very much. Thank you very much for having me. I appreciate it. Thank you for being with us. More than a third of Hawaii's population live in some form of association and our show is all about educating board members and owners about the responsibilities and obligations and providing solutions for a great association. You can watch me live on Thursdays 3 p.m. to 4 p.m. each week. Aloha.


What's up everyone? I'm Giovanni. Welcome to another coin telegraph AMA show Today, I have the pleasure to be joined by ELF an open source blockchain network that offers a complete solution for businesses and we're gonna talk about this project We are we have a two special guests today Chi the PR specialist at ELF and Ian R&D director at ELF. How are you doing guys? Hi Nice to have you on the show guys. So before we start with the questions I would like to remind our audience that this is an interactive show So please don't hesitate to ask any questions come to your mind in the chat and we're gonna ask Chi and Ian about them. So Before we get started also, don't forget to like this video and subscribe to our channel if you haven't done it yet So let's get into it guys First of all, let's let's give our audience a bit of background of your project. So what is ELF and a little bit of generic information about The project maybe Chi you can start Okay, I can get this First so after the blockchain network imparted by the computing and cloud computing Of course, the whole network is built in our innovative multi-level solution structure Which enable unlimited scalability Each node each node within our network is an independent cloud computing center You can see that and it can carry multiple chains When data or this is digital asserts rather than the center They could transmit from one chain to another chain directly This is a logic behind our network multiple chains, yeah We developed the underlying framework like our fantagoras of midnight of Oracle and the diversified diversified the five protocols Yeah, so let me translate what Ian just said a little bit So what is ELF? ELF is a public blockchain. It's fast. It's cheap And it gives you freedom With these three features, we are a one-stop layer two solution to breaking the industrial bottlenecks Including performance and the cross-chain function. So first performance our development framework of enterprise has the credit to approach 35,000 TPS on a single side chain and Multiplying as many set chains as needed. So there will never be traffic jams on L With TPS at this high, we could set our service fee at 10 US cent So users can enjoy our high performance at the viral of price and second the cross-chain function We build a versatile Oracle that helps retrieve off-chain data and the digital assets The versatile Oracle is great. It's opening up the two-way communication among all the projects and third We are very proud of our user experience with our development capability We can develop diversified DeFi projects so that our users could have a more comprehensive experience with us so so in some we own and can seamlessly connect with Existing ecologies and now it's safe. It's efficient. It's autonomous. It's stable. It's easy to use and it's totally parent transparent Thanks guys So before we actually get more information about your project and I wanted to ask you also some information about your your team There is already a question from the audience mark one is asking where can I get one of those dolls? so Actually, we have many of helping this call up in and Yeah, we'll be Can send an email to social at out.io. I request one. I think it's 100 You need to stay 100 out to get this and we will we will like mail it to wherever you are in the whole world Yeah Okay, cool So we're gonna talk about how to stake else later so that people that want to get one of those can Get started with it But first I want to to know a bit more about the background of your team Can you maybe give us some information about your team's background? Oh? Sure, absolutely. We are funded in 2017 in Singapore for many years. We are we are we are gathering the best developers from all over the world To build the fastest the most secure the most user-friendly Blockchain system and we are very confident to say that we have the most Ambitions engineers in our team So everyone in the team has a very unique background and life stories Ian here He worked for Microsoft for many years before joining out and when he first learned and was attracted to the blockchain Development he learned solidly by himself and we have developer who graduated from Monash University with a PhD degree And we have our super smart CEO how well he started his crypto journey in 2010 which is very early, so he's very very experienced and he's now one of an executive members of IEEE we have approximately 30 developers in total in the development team and this genius spent like four years to develop and to launch the Alphamonet When Alphamonet was launched last December it was quite clear that the bullish market just came and that's when we believe It's a perfect time for us to start reaching out to people with our truly good product our Alphamonet So we start to reach out to more token holders to to developers to potential platform users to media and to more business partners We started to build a globalized marketing team and that's approximately when I was recruited Before joining Alph I studied at work for in the United States for a couple of years I had a master's degree in communication studies from the University of Miami After graduation, I started my journey in the public relations in LA, California So also in the marketing team I have colleagues from Russia from Korea from France and I have colleagues from very diversified background information who some of our our BD manager was graduated from Northeastern University in Boston United States and we have a PhD colleague from Canada a University whose name I cannot really recall and many many more Awesome. So yeah, it sounds like pretty solid and the globally spread team Also, if you want to know more information about it, you can always check Alph's Alph's website, which is Alph Alph.com if I'm not mistaken, right guys. Yeah Cool That is our new website. It's very fancy and please please serve on that. I like it Actually, I also Check it out. It's pretty cool. I Love the design pretty cool website. So yeah Let's get started with more questions. So let's get more in depth into the into the project. So You aim to offer a new blockchain solution that is going to solve the bottlenecks that are present right now on the market So what are according to you the main obstacles that are still preventing the commercial adoption of blockchain technology? And how does Alph aim to overcome these challenges? Okay, this is a very good question and for a very long period of time The whole team the whole company has been constantly thinking about this question. However, it's kind of hard for us as Insiders and in the shoes of traditional developers who are trying to get involved in the industry So we hold a series of off offline event including forums Surveys we reached out to developers just trying to explore the answer of your question exactly your question and Here is it affordability There are three dimensions of affordability Namely, they are their learning cost economic cost and the opportunity cost so first for the learning cost you for a very long time you need to learn solidity before developing anything in blockchain and Solidity is a unique coding language other than any widely used one such as Java such as C sharp pattern and many more and solidity is either room exclusive Yeah for the learning cost to basically we use C sharp to develop a blockchain and C sharp is kind of similar to Java if you ask any developer That's total like 60% or more developers in the daily world can write our smart contract codes Which we use C sharp counter to do to write a smart contract. Yeah in this way by using Java and C sharp We can definitely attract more developers Yeah, and yeah, and second economic cost. This is quite simple Like thinking like from my personal opinion if I can send message to my friend Yeah, I mess it. Yeah, what's that or I'm using which had more frequently recent days Then why should I send a message with approximately with like $50 gas fee on chain? Why should I as a normal people this is a huge obstacle for the majority general? Yeah, so for the service fee part and on half a minute the service fee is fixed at around ten cents and regardless of market conditions, so it's cheaper than the postcard and Okay, we'll go through the later for the service fee part. Yeah, and yeah, and and third the opportunity cost Even until today, we have very limited on chain scenarios DeFi emerged and became popular on the age of 2020 and most people including me first heard the concept of NFC at the beginning of this year when an NFT of a crypto kiddies was auctioned for $500,000 if I remember this correctly and Recently in the month were a tool game five became a popular topic, but it's just a baby It's really an infant So the examples I offer here indicates a very crucial fact that when developing a decentralized app You have very restricting the past to troops that leading you to the so-called success. Yeah, we have so So we have vitalize our DAO, which is the centralized autonomous organization management the system to incubate the apps so far we have a defy and Directive project ongoing smoothly and our DAO team starts with Establish game five team in the near future Everything I mentioned is invested by our friend and they will be part of else in the future Yeah Awesome Okay, that was a pretty good overview of the main challenges faced by blockchain technology nowadays, I was pretty curious to to Hear that you elf claims to offer a blockchain solution with a limited scalability so scalability is one of the three components of this dilemma that is Faced that blockchain is facing which is made by The scalability component then you have then you have privacy and Then you have like a third component which was I think Scalability privacy and You guys maybe can can add the third component of the Scalability of the three lemma faced by blockchain or maybe Well, it doesn't matter. It doesn't matter. I think that's our audience already get it. So we can We can talk about scalability So what is the solution that you offer in terms of scalability? Why? Is a limited scalability the stability here and my understanding of this is speed Is actually the TPS of one blockchain. So remember the structure of our network? It's a matter life or such and structure so Each note within our network is an independent cloud computing center and in which you can add as a multi-selections as as it needed so To offer a straightforward view of enterprise has passed a three strict standardized tests from our government It's an institute is called CSI Including performance functionality and the reliability the three tests the past and the F Enterprise has approached Approach the 35,000 TPS on a single solution Our mennet with such more loads TPS on a single solution could Still reach at a 3000 at minimum at minimum Multiplying the increasing number will sell a chance and I think of your the module of blockchain This scalability and the reason some like ACS the our contract standard and you can develop a contract in our blockchain and Our code structure is very fair and it is Appreciated by the chaff base team and I think it's easy to develop to add a module to our code So that's how Mm-hmm. Thanks. Actually, I just found out about this third component I was thinking about it said so the blockchain through lemma is decentralization scalability and security so as I understand you you you maximize this Scalability you you maximize the scalability Problem, what about for example? Decentralization, how do you Approach the component of decentralization in your network which the deep holes consensus and there is the logic of people content is coded on our contract not not like other blockchains. It is hard coded in their chain code and The logical for our deep holes consensus is in our small contract It's called a deep holes and you can you can check the code in our explore blockchain explore and And the it is it can be updated or upgrade very easily In the future as long as the permanent and like the block producer so forever may not agree Yeah, and we have a whole voting system. Yeah, we have voting for some system to elect as a block producers Yeah, it's a it's a core intention of deep holes Mechanism, yeah, and so far at this moment. I think we have three million Tickets on our midnight to Yeah, it's nearly four million tickets already locked up for voting. Yeah, just voting for for different Yeah, block producers. Yeah, so so they are elected like the US president Democracy it's a demo. It's a democratic system. So We have another question from the audience here. So they they are curious to know about the The mechanism of interoperability. So they asking that they are asking the biggest defined needs are That of interoperability providing cross-chain interactions and multiple blockchains. How does elf achieve that? Okay Inter It's a question part and we'll go through it later. So and You want to talk about later? Yeah, yeah, okay, we can we can also talk it now. So there are two question paths on elf The first one's the homo structure question This is within elf and another is Hector structure question between elf and the other blockchain projects. So I guess that I got started with the first one is the homo structure question and The structure of elf mention and section are alike So when designing a blockchain, we have emulated the cross-chain agreement and with its agreement Data or digital source can easily transfer between our main chain is that chance? So this is a Homo structure for after and when conducting cross-chain transfer between elf and the other blockchain can product projects Who have a totally different structure with elf Water was a toe We have a subtle was a toe versatile yeah Oracle and the F work who can use the organization ARC sorry, I'm kind of nervous I've worked with organization and use a relevant to set Set to generate any reports on the off-chain data continuing the structure information of Organization members The report can be applied to any blockchain that supports my contracts So in this way and heterostructure Hector structure cross-chain interaction will be done through the Oracle endorsement. It's like a classical solution for these parts and then the combination of for I've mentioned a midnight and I've org Extends a two-way network among among all the projects with seeing the proctor industry So we are capable of expanding the Capability of full concept Yeah capacity yeah, oh for projects in need Thanks guys, so you mentioned oracles so as we know oracles are these mechanisms that connect the blockchain with real-world data so I was I was curious to know about these mechanisms because These these mechanisms are usually Relying on off-chain It's enough. It's an off-chain solution. So a lot of networks today are Providing with these hybrid systems that are not fully on chain But they still rely on this on these off-chain solutions How does your project working in this respect? Is it like a fully on chain all the mechanism are fully on chain? Are you still rely on on off-chain solutions? Yeah, because if you If you see the on chain For else in the other blockchain products will be the off-chain of else. So Basically the oracle Relays on the reputation system The the report itself does rely on the Organization member signature so if we can if the contractor can recognize a signature and the origin data the And according to the reputation system the Data can be trust so in this way we remove the off-chain data to on chain and For every on chain we have a reliable off-chain data from actually from Oracle organization Yeah, of course, you are correct. It's a oracle oracle mechanism was Eminence moving Off-chain data to the blockchain, but for For any blockchain the other blockchain is also a off-chain off-chain data So we just just use this mechanism to moving data from distant to that chain and of course This is a cross-chain Yeah, mechanism got it got it. Yeah, that's that makes sense Yeah, so Let's go back to the questions from the audience. We have a lot of questions. It's very exciting It means that the audience is involved into the project so See the questions live way I Mean me and you I'm not seeing the Audiences so I'm wondering.  So I guess maybe you are not too I'm not sure you are able to answer this question, but People are asking regarding the regarding regulation. So we know that you are based in Beijing, right? So how how are the Regulatory restrictions imposed by China on the cryptocurrency space affecting elf if in any ways. Oh We are we worked in Beijing, but the company is based in Singapore and legally we are a Legal-wise we are a Singapore company. So the regulatory from from Chinese government is on cryptocurrency does not like Actually focus on us and currently based on my personal Explanation they are focusing on the Chinese exchanges Chinese centralized. Yeah, and now for the blockchain project Yeah, and we worked in Beijing like mostly for the technology part is for blocking technology and Chinese government encourage technology Yeah, so even with the government projects using the elf Blockchain, we have another name and we use our techniques to support governance job Yeah, yeah It's just technical being not not cryptocurrency being not money thing. Yeah. Yeah, the group companies in Singapore Yeah, it seems that the Chinese government has this two ways approach on the industry It is very encouraging towards Blockchain development not as encouraging when it comes to when it comes to cryptocurrencies exchanges and so and so forth Yeah, but let's let's move on to the next question. So You were talking about you were talking about service fees on your blockchain. So You claim to to be able to keep the service fees on the main net To be fixed at zero point one dollar regardless of market conditions So, can you maybe explain us how you can achieve that fixed a service fee on your main net? Okay, this is yes, and this is not a how this is just Firmly written in our code and and and you may be curious like how when like when you have so like large amount of transactions you need to execute how could you steal to copy services so well and Here is the mess remember like five minutes ago even Ian was talking about the minimum TPS on a single set chain is 3000 which means each second even the transaction fees Fixing at point one US dollar each second We could still charge three hundred dollar on one set chain and we have unlimited That chains which means like as long as it's needed We can add more set chains and this three hundred dollar per second is earned by our block producers And thanks to our performance We are able to to like provide super affordable services to the users Well, getting enough money to insensitive our our block producers our valid backup news our voters and Developers within the LV colleges. So so everything thanks to our our performance our super high TPS Oh, yeah, so here's something I would like to add about the performance In the past years Two groups of people have trying to train very hard to fix the performance issue of blockchain Some of them trying to ember Amidate a EVM engine Unfortunately, even today is not strong enough to support the parallel Transactions so in this way the real two developers are facing challenges in long term of time Also earlier in August and after room finished as a EIP 15 59 upgrade trying to reduce the gas fee It turned out the the price of ETH was plump and consequently the cost of for Ethereum users did not actually go down Yeah Totally brand new solution to the to the real problem. Yeah, actually we use a free charge plug in To charge the block to charge the Transaction fee not not a gas fee and this can be fixed For cool Okay, now now I would like to dive a little bit deeper into the Cross-chain interoperability interoperability solution that you that you mentioned earlier because as we know Interoperability is one of the key aspects of The DeFi ecosystem so the possibility to connect one chain to another you you mentioned the fact that your chain We'll be also able to interact with the block with block chains like the Bitcoin blockchain like the Ethereum blockchain but of course there are also Many other solutions that offer cross-chain interoperability right now. So what is your? Competitive advantage compared to all those others what what makes elves interoperability solution so unique if you had to explain it. Oh I just explained this question before so the Homo structure and the heterostructure. They both put the to this two paths and the home structure is like our constant women's and is coded And at the very beginning of our project and we use and we use our Oracle mechanism to support the Heterostructure cross-chain Okay, as I explained before as long as the other blockchain supports contract So basically the Bitcoin Concurrently there's no contractor mechanism where we can't support the Induction in interaction But but this is a W PTC it's in Ethereum we can support that Yes, so yeah, so basically within our ecology we can launch different projects on different settings So if different projects was launched with as long as they launched within our our ecology They can do the cross-chain interactions as They are homostructure cross-chain just like they can just like interact with each other's directly because they are homostructure They're they're basically the same here's And when the when we are going to like reach out to Projects for example out is going to reaching out to either real At this time our Oracle will house.  Yeah, so logically this is a this is a cross-chain transfer Yeah, logically, it's very very very complicated back back in the in the back. Yeah, because we use of midnight We use Oracle with we use a dozen of smart contracts But actually to our users if you have if any of our audiences has tried to Swap of midnight tokens on our website recently You will know this is just two clicks. You need to click lock On the left and receive on the right and that's it. That's it. You will get the native Yeah, and that's how you you transfer your digital assets from either realm to out. So, yeah, two clicks So the our command is already in use for swiping Yeah, actually I wanted to I wanted to get into this topic right after so they The alpha network Just a few weeks ago I think launched this token swap by which the elf token which used to be ERS C20 token So on the Ethereum blockchain it has migrated to the native blockchain of elf. So People were Invited to swap their all the ERC 20 token for the new elf token if I will understood right the guys Yes Okay, and So, can you maybe explain better? What was the rationale behind this move? Why did you decide to migrate the token to a native to the native network from your C20? Tokens and what are the functionalities of this new of this native elf token that you just Created Sure as I also explained a little bit earlier the midnight tokens web Intrinsically equals to a midnight migration. So when the ERC 20 elf token were replaced by midnight tokens the token assets will migrate from the Issyrium to our native blockchain network On elf the coins will be utilized for the practical value Specifically, there are three ways well first users can use elf as currency within elf ecology for this for fees such as transaction fees section index fees Deposit block rewards and many more and second users can hold elf tokens as delegated consensus equity sharing representative of Elf midnight this part is the EPO 80 DPS Submission by Ian before like you can vote and third you can participate in the development and governance of Elf midnight And for the government this part Here is something I would like to to add as we just complete the initial fees of voting on Elf midnight And if you can nicely share the picture the chart the return rate chart with our audience There we go in the first phase of Voting completed by September the 16th the hardest weekly return has approached amazingly 100 147 percent, which is a 7,640 percent API and here is the data like when you lock up ten thousand elf tokens on Elf midnight to vote for the candidate news and you choose to lock up for three three years The initial phase, which is seven days. Remember here. It's it's just a week return a weekly return the weekly return rate approached 146.91 percent So so I we have a colleague He saved 10,000 elf tokens to vote on September the 9th the first day of our midnight tokens He locked his tokens for three years and on September 16th, he redeemed 14,691 tokens as return just in a week and here he still has his 10,000 elf tokens take on our midnight, which means he could continuously receive dividends every week in the future Three years. I was very jealous as the return rate is just so enviable So I would highly encourage our token holders who who have the Who has the elf tokens to carefully think about it the EPI you should You would probably never ever find any other signal if you're like this But do please be reminded the return rate may decrease due to the increasing voting ticket And you can go to our our governance page to stay and to vote Mm-hmm Yeah, that sounds like a pretty great initial phase return rate so If someone maybe someone in our audience never was a token holder For these E for this ethereum token that you had before so if you don't have that token, how can you? Participate in this in this system. How can you get your hand over the elf token? Maybe you can explain just Like the procedure that someone can get to participate in with this token Okay, so the easiest way will be Binding midnight elf tokens on the exchanges who has already support out midnight tokens The support is exchanges now include upbeat Beats on will be global. Okay. Yes gate.io So far, right? Yes This five exchanges already support the alf midnight tokens once you have the alf midnight tokens you can This job. Yeah, we saw the the midnight tokens to midnight To to your alf night wallet, which is yeah, you have to create a alpha count using a wallet Wallet our attention Yeah, yeah, you can all the extension you can search you can search alf official wallet in Apple store, I think yeah, I store Yeah, so so so you can you can transfer your your midnight tokens to your wallet and then you just go to our website Just to stay a lot lobbying and vote for vote to someone and you have to catch the Kind of dividends. Maybe a few days later Yeah, and if you are you are you are a huge fan of non-supportive exchanges You will conduct the midnight tokens what by yourself Yeah, okay.  You can decide to stake them for one year or for two years and then you receive your Your returns according accordingly, right? Yes And the longer price is customized, right? Yes cut nice form three months to three. Yes Well, you can also click the link in the in the in the AMA below join our telegram our our community manager will be very Revealing to answer any of these questions. Yeah. Yeah Should be Awesome guys, so that sounds exciting so let's let's Wrap up things with one final question, which is the future of alf So what are the milestones that you that you hope to achieve in the following months? Oh Sure, sure I'll go through it. So as you can see we have been dedicated to carrying out our our works based on our roadmap And if you can show to our audience the roadmap of out for this year Yes, this one. So for the rest four months in 2021 We will start to deploy our new election and the second option These two things will be the key stones that buttress of midnight into a stabilized stage And we are trying our best to push things forward and we sincerely hope the state of life stage could come earlier So once I'll midnight turn stabilized We'll start to connect a mass number a huge number of projects to to increase the diversity of our Ecology and we will also spend some time Providing a blockchain solution to the traditional industries Yeah Technically out I will go to continue there and the several versions of alf itself country the the alf code is version is One point one point zero. So this is the version we use for swapping Some native con native tokens in the next version It should be one point one point one. We are upgrades the money token contractor, which is one of our system contracts and Refactor for alf network module will be done and at the same time an Ft Ft contractor will be deployed very soon and we are going to use some new tech technologies like DAPR To reflect some parts of alf code to basically speed up the transaction execution into a to a photo place I mean the GPS of a single section could be higher in the future besides decentralized storage mechanism and WebAssembly transaction Exciting environment is also shared on our Don't mind. Yeah. Yeah, and you can follow our media our our website join our our Telegram community and everything will be the subject and they will be They will be published as long as it's Unounceable. Yeah. Yeah, just to catch up the most the latest news Yeah, actually, I'm very much looking forward to this gaming platform because nowadays Gaming is one big part of the DeFi Ecosystem and there are very very cool things coming up in this field. So Guys, that was an amazing conversation Maybe you have any final Thoughts or remarks that you want our audience to know you can go forward Well, we really appreciate you hearing us for for the for the past 45 minutes and I hope I have explained the questions clearly and if you have any questions for me for Ian or work for the team Please go to our telegram communities and you can talk to us directly Yeah, I have I have to give away some useful information and more projects will be joining joining joining elf very soon We also know how to now to stake the elf token to get one of those puppets so Just Drawing the community and she will give you guys a very thorough tutorial Great and also don't forget to check out the website, which is a new brand website of elf. It's a elf dot com written a Elf dot com so everyone who is interested check it out We'll be looking forward to see the development of your project guys. Thanks a lot for being with us today Thank you. Thank you. Thank you Yeah, I'm Giovanni your host thanks everyone for watching and see you next time See you