Last Thursday, we held our first Ask Me Anything (AMA) with our CEO, Pierre Proner, on Telegram. We had some excellent, thoughtful questions from participants; in response, Pierre answered by voice recording. In case you missed out on the AMA, have a listen now!
Q1: Who will Bright’s project help?
Q2: The road map goes from 2014 to 2017 - what happened in between?
Q3: Describe the type of data you believe MSMEs should part ways with to the benefit of Bright?
Q4: I understand the credit gap currently which I agree is a massive problem. Part of that problem is the ability for SME clients understanding what they need to do to qualify for fundings, i.e. usually it is down to strength of the financials, yet clients can still get turned away - how will you address this?
Q5: How does Bright define small business? And is Bright Network global or only for certain countries?
Q6: The white paper suggests that Bright has a database of many MSME's that (potentially) could become users of the platform. For the platform to become a success, lenders need to become users as well. How do you plan to attract these lenders? Also will the lenders be located in one or various jurisdictions around the world?
Q7: Token economics is often a big question. Investors ask it, many projects struggle to answer conclusively or coherently in some cases. For Bright, it seems you have gone the path of two tokens. How do these two tokens interact? How do you intend to achieve the goal of providing investors with a “return based on network revenue”?
Be sure to read our Token Explainer post out now!
Q8: The open protocol portion of the white paper is very interesting - I could see this platform being used in the insurance or even healthcare space - am I understanding the platform correctly here?
Q9: SME is typically £1-£25m - will clients below this space be able to benefit from Bright? Or is the target market set?
Q10: Will Bright develop its own blockchain?
Q11: Blockchain and Crypto is unfortunately foreign to many at the moment. With that in mind and the current competition in the market through traditional lending avenues how will you be able to market effectively to attract new business and client using the platform?
Q12: How are the settlements of funding done once approved? Crypto or Fiat?
Q13: How does Bright make money - to meet its obligations under on the BRTX side of things?
Q14: Who consumes the lending outcome the AI spits out? MSME's or Lenders?
Q15: Who are Bright’s competitors - and what sets Bright apart?
Q16: The lenders you would be working with - will they be providing the finance at the same rate they offer? If less-than, everyone should or would use the platform; or if more-than, the client could directly go to the lender. Has this been addressed?
Q17: The current presale - is there a minimum investment & when should we expect to hear back?
Be sure to register your interest in our Presale here: https://brightnetwork.io/presale