Welcome Charles Silver, CEO & Founder of Permission. Could you please give us a brief introduction of yourself?
Charles：Hello Everyone. My name is Charlie Silver, CEO and founder of Permission. I am glad to be here and share our project with you. My career has been in finance and technology. I’m also the co-founder of Reality Shares, an SEC registered investment adviser with five NASDAQ and NYSE-traded ETFs, as well as co-founder of BlockForce Capital, a cryptocurrency hedge fund. Prior to founding Permission, I’ve had two very successful exits and have a deep understanding of how to build a winning team. My last company had over 60 million users, and I sold it for over 100 million dollars.
The news report said that Collinstar China has invested Permission, can i ask Charles to introduce more investors who have invested permission? and any further fund raising plan?
Charles：To date, in addition to Colllinstar, the company has been supported by professional blockchain investors, including Eric Ervin of Blockforce Capital and Richard Li of Certus.One and Alphablock Investments, and a number of whales.
There is quite a lot of news about Permission recently, please introduce “what is Permission” and the reason why you build it ?
Charles：Permission.io’s mission is dedicated to helping individuals be compensated for their time and data while engaging in e-Commerce. Web 2.0’s business model is driven by tech giants who harvest and profit from our data when we shop or search for products online.
Permission.io的使命也是我们创建这个项目的初衷，是致力于帮助个人在电子商务活动中获得时间和数据方面的补偿。 Web 2.0的商业模式由技术巨头驱动。这些科技巨头在我们在线购物或搜索商品时获取我们的数据并从中获利。
Permission is about changing that model. We want to make sure that individuals receive value for their time and data in Web 3.0. That is why we are creating opportunities for people to share their data and earn our cryptocurrency, ASK, while engaging in eCommerce.
There are some e-commerce blockchain project ,could you please explain why your project starting from e-commerce?
Charles：Permission aims to return the ownership of time and data to individuals. Why does Permission enter the e-commerce market?
e-commerce advertising amounts to roughly 40% of all digital advertising spend, and is rapidly increasing with Covid-19. With so much competition for consumers’ time and data, retailers that engage customers on their own terms differentiate themselves and see increased loyalty and ROI.
Our simple-to-use coin helps retailers ask permission to engage. We make it easy for buyers to grant permission and for advertisers to offer rewards for buyers’ time and data while viewing advertisements, product videos and other branded content.
Charles：Our core strength is our technology. Data algebra’s ability to liquify data into mathematics across different data bases and sources allows individuals to build a personal database that can then be permissioned and monetized in multiple platforms.
This is a major problem in Ecommerce and Advertising – there are so many different databases and you cannot utilize all the data on different databases because they have different coding languages – until now.
Permission.io’s data algebra allows us to integrate data from all data bases – search, shopping, social, etc. -and this allows our token to work across all platforms, APIs, browsers and ecosystems. Not just using ONE browser, like BAT token uses only one browser BRAVE. Permission can operate across all browsers and platforms. Permission.io’s technology, Data algebra enables people to really own and monetize their data across the entire global digital ecosystem.
For retailers, we can provide superior datasets that are integrated and permissioned. This allows retailers to target the richest data set possible, leading to significantly better ad campaigns and increased return on advertising dollars.
We run an independent, Permission blockchain, which enables speed and transparency of transactions. For example, BAT is an ERC-20 that gets bogged down by gas costs and lacks transparency about when earning events occur. All of our business model innovations are focused on making crypto easy to earn, use and spend.
我们运行一个独立的Permission区块链，以实现交易的速度和透明度。 BAT （注意力币）是一个基于ERC-20的通证，由于Gas费用过高、赚取通证缺乏透明度等而陷入困境。我们所有的商业模式创新都致力于使通证更易于赚取、使用和花费。
Another distinction is our mature, well-seasoned, executive team, many of whom have built companies for decades with multiple exits.
The biggest obstacle to the development of e-commerce platform should mainly be the difficulty of solving some trust problems between users and enterprises. How does Permission deal with this problem?
Charles：Data is now the backbone of the digital economy and consumer trust is fundamental to customer relationships. Regulations like Europe’s GDPR and the CCPA (California Consumer Privacy Act) are just two examples of protections aimed at safeguarding user data. We have created the best solution by enabling the asking and granting of permission for the use of data. We believe establishing trust with the consumer requires making it clear how data will be utilized, compensating them for that data with a trusted currency, and then respecting those agreements.
The token economy design and incentive will be really important, could Charles please share with us how to design permission.io's token economy?
Charles：It starts with individual members that are attracted to our mission and platform. As individuals come on board, advertisers will seek to reach them on a permission basis. Additionally, eCommerce vendors and others who transact online will want to use ASK to drive conversions. Working with payments companies and other retailers about expanding the acceptance of ASK will fuel the economy as well.
Charles：Permission.io recently announced its core application that serves as entry to the Permission platform. Users can sign up to become Permission members and begin earning ASK for watching product videos and engaging with branded content while shopping 10,000+ products.
Users also earn for providing profile data and for referring friends, amongst other activities. The application will demonstrate how eCommerce retailers can drive conversions by rewarding consumers with ASK for the ongoing sharing of
Due to COVID-19, the global economy is still recovering. How do you see the coming market of the crypto industry? and DeFi is popular now, any connection between Permission and DeFi?
Charles：I think the crypto industry is going to accelerate. After all, crypto was created as a result of the financial crisis in 2008 when central banks around the world printed money to avoid a crisis.
By the end of Q4, we will release a browser extension and the plugins for e-commerce platforms, including Shopify, Magento, WooCommerce, Big Commerce, and Volusion. This enables the over 5M independent operators on these platforms to gain new customers and increase their sales by rewarding consumers for data and incentivizing behavior with ASK.
The plugin distribution will create a network effect of attracting both advertisers and users via a novel channel that will push awareness and adoption of ASK to become a global crypto rewards program working and thriving outside of the Permission Platform.