Recapitulation of PRuF AMA event held at AMA LOVERS CLUB

11 min readJan 24, 2021

Venue: https://t.me/amaloversclub
Date: Wednesday, 20th January, 2021
Time: 15:00 UTC

The PRUF team was represented by @Exosequitur who judiciously shared with us detailed knowledge and information about PRUF project.

1st Segment: INTRODUCTION

Q1: Can you please introduce yourself and your background, also introduce the Team working on PRUF project?

ANS: I am Clifford Smyth, CEO and lead dev of PRüF. I have been building software for most of my life, and my work at PRüF is what I’m here to talk about today.

Ive followed blockchain technology since bitcoin was still theoretical - the idea of merkle tree ledgers is actually pretty old, but it was “Satoshi Nakamoto” that brought the incentives into alignment to make it happen.

Watching that develop really changed my thinking on distributed systems, because it showed that the alignment of incentives is the fundamental key to making it work.

Since then, I have incorporated that insight into much of my work, and it is a fundamental basis for everything we engineer at PRüF.

The core PRüF team has a diverse set of technical backgrounds, from career entrepreneurs to micro-satellite sensor design and programming for an academic/NASA collaborative effort.

Two of us have been programming ethereum contracts since 2017, and one of us has a background in A/V arts, music, and design. Everyone on the team has a technical background, with meaningful experience in programming ranging from 7 to 44 years. We have worked together on several multi-year projects, and have developed a working culture that balances cooperation with open critique and debate.

PRüF relies upon a diverse set of individuals and professionals for counsel. We have hired X10.agency to handle our publicity and media outreach, and work with a network of peers and domain experts when we need to reach out for insight or advice.

Q2: Can you briefly describe the PRUF project, what critical problems does it solve that existing solutions are not solving and what's the competitve advantage?

ANS: At its core, PRüF is a privacy-first provenance platform that provides instant verification of ownership, authenticity, and item provenance. In addition to these core functions, PRüF can be used to manage escrows, collateralized loans, layaways, private sales, and much, much more.

PRüF helps companies to eliminate counterfeit products, which is a problem that costs trillions in lost revenue, over 3% of global trade.

The anticounterfieting industry is expected to reach nearly 200 billion dollars by 2026.

PRüF is well positioned to be a major disruptive player in this fast growing market, and that’s just one of the many verticals that we will bring into the blockchain space with PRüF.

Unlike many DeFi projects out there right now, PRüF is a completely original project. We’re not just cloning some other project’s GitHub and making a new token farming dex to add to the already very long list.

Most projects in DeFi are fighting for an ever shrinking slice of the pie, which is why we designed PRüF to open new markets to the blockchain space and onboard millions of new users, many of which won’t even know they are using the blockchain.

Q3: Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap?

ANS: We’re just getting started, but we’ve done a lot already. We were in stealth for about 6 months before we went public, so we are starting with a lot of momentum.

The core contract infrastructure and the basic set of business logic contracts are done, audited, and deployed on the testnet.

We have the MVP dApp interface publicly available (on the testnet) at our website, and the PRüF utility token is live on the ethereum mainnet.

Right now, we are rolling a completely new dApp interface for an improved and simplified user experience, and its working really well on screens of all sizes and devices. we will release this (1.5) dApp interface within a few weeks

There is some exciting new functionality that we are going to demonstrate in a "leaked" video later today… so stay tuned!

We are having a seed round presale funding right now, you can check it out at pruf.io or The Presale is Live!! 🚀🚀: https://wwwpruf.io/events

here is our roadmap:

We are targeting May-June for listing on a top ten exchange for our public offering, and will be rolling out additional key features including ACnodes and staking on dNodes by that time.
2nd Segment: LIVE Questions

Q1: Many new projects made a good impression at first but were suddenly abandoned. My question is, how will you manage the project and token to gain a place in the market and become a best token in the blockchain world?

ANS: I think this all comes down to trust. Why should you trust the PRüF team?

First, PRUF is a fully functioning project with audited code, currently running on a public testnet.

PRüF is not a clone of some other project, and the PRüF codebase constitutes significant intellectual property, invested time, and capital.

We’ve been coding on PRüF for months, and our progress can be tracked on GITHUB. The team is not anonymous. With PRüF, we have put our time, money, and reputations on the line.

PRüF has carefully aligned incentives to make sure that the project continues to grow.

The team is in this for the long haul. Our tokens will be unlocked over 4 years starting in 2022, and we will receive dividends from network operations, so we are deeply committed to the long term success of PRüF.

We will use funds raised from our early promotional efforts to promote the growth and accessibility of the PRüF ecosystem.

Q2: Being a project described as privacy-first cannot be overemphasized. Can you please delve more on how users privacy is being protected by PRüF?

ANS: The PRüF protocol does not store personally identifiable information on the blockchain. This is important because, by design, the blockchain is a living public document. Anything stored on the blockchain is inherently public.

PRüF uses user data to create digital “shadows” of the information it is given, and the original information is discarded. Like a shadow, the data cannot be used to recreate the original scene, but it is a unique imprint that can be used to verify that a scene matches the shadow or does not.

By not storing your information, PRüF data becomes immune to breaches, hackers, or other methods of coercion - the data is simply not there to take.

Privacy and security are almost always a tradeoff with functionality. PRüF meets this challenge in two ways:

PRüF allows a specific user (and only that user) to prove that they are the owner or authorized party to a single specific asset. This limitation is a privacy feature in our case because it prevents “looking up” users' listings on the blockchain.

While privacy is important, sometimes we wish to make things public. PRüF allows for this as well, by linking assets to publicly readable (or encrypted) information accessible online. This way, users can publish what they want to make public while retaining control of their privacy.

Q3: PRüF is a project in its very early stage and so the token usage is low and is mostly HODLers. How does the but team aim to generate millions of new PRüF users yearly on the system?

ANS: That's one of our secret superpowers, so I'm glad you asked!

Adoption is a huge issue for most projects in the cryptocurrency space. Most people know little or nothing about blockchain technology. Even fewer people actually hold or use crypto.

Working with manufacturers to prevent counterfeits, PRüF onboards users in bulk without them even knowing that they are using the blockchain.

When a major upmarket manufacturer uses PRüF so that their customers know that they aren’t buying fakes, customers scan the tags in the store with their phones to verify their authenticity. All they know is whether a product is authentic or not - the blockchain operations are doing the work in the background.

After purchase, they can register their purchase on the brand’s portal. Without ever touching a crypto wallet, they are now a PRüF user. The brand owner handles all of the blockchain interaction in their back-office infrastructure.

Users in managed asset classes can prove provenance, perform transfers, and most other basic operations. Later, If a user decides to, they can export their asset to an unmanaged node and hold their asset in their wallet.

Whether a user chooses to learn about the full functionality of their PRüF asset or not, millions of users will be onboarded every year by each major manufacturer using PRüF.

We are in the process of finishing our 1.5 web app, which will feature a complete facelift to the interface and huge improvements in user flow. Our current prototypes are so easy to use and familiar feeling, that I think it is safe to say that anyone who can order something from amazon will be able to use PRüF. In many cases, basic users will not have any idea that they are even using the blockchain.

Q4: PRüF is a project in its very early stage and so the token usage is low and is mostly HODLers. How does the but team aim to generate millions of new PRüF users yearly on the system?

ANS: PRüF directly adresses several major markets, including:

Private commerce, providing certification of authenticity and ownership.

Collateralized loans, Escrow payments, secure, guaranteed payment on delivery, Auctions, and secure purchases in public or private markets.

The detection and reduction of counterfeit products, which is a rapidly growing $100B (2018) market expected to hit 200b by 2026.

Theft dis-incentivization: stolen items or even cash are made more difficult to sell, and helping to ensure the return of lost or stolen items to their owners

Q5: What issues and products does #PRuF currently focus on developing? What are the technical priorities that PRuF puts on top?

ANS: PRüF directly adresses several major markets, including:

Private commerce, providing certification of authenticity and ownership.

Collateralized loans, Escrow payments, secure, guaranteed payment on delivery, Auctions, and secure purchases in public or private markets.

The detection and reduction of counterfeit products, which is a rapidly growing $100B (2018) market expected to hit 200b by 2026.

Theft dis-incentivization: stolen items or even cash are made more difficult to sell, and helping to ensure the return of lost or stolen items to their owners

As for technical priorities, i think that really gets back to our ethos, because we express that in our code. We are committed to creating a vibrant ecosystem that empowers individuals to authenticate, hold, buy, sell, and manage property with security and privacy - but not at the expense of our principles.

our ethos:

The core values exemplified by PRüF are:

Data Sovereignty – you should be in control of your data and how it is used. PRüF does not collect sensitive
data from its users. Whenever personally-identifying information is required, it will be used for computations
on the users own computer, and only the irreversible hashes made from that data will be stored on the
blockchain.

Safety – PRüF systems are engineered so that they will not inadvertently or intentionally compromise the
security, privacy, or agency of users. PRüF will protect the privacy of its users by collecting the minimum
information required to provide the desired service, and clearly informing users of actions that may put their
privacy, security, or agency at risk.

Personal Agency – PRüF strives to increase the freedom of its users from the external application of coercive
force, whether financial, physical, or social.

Sustainability – As a blockchain-based service, PRüF is designed to stand the test of time. The PRüF protocol
is engineered to be flexible, upgradeable, modular, and persistent. PRüF will seek opportunities to incentivize
activities that enhance the sustainable uses of PRüF, its applications, and the natural environment in which we
all share.

Do No Harm – The developers of PRüF are committed to building a tool that has a positive impact on society.
Many of the design decisions built into the PRüF protocol are designed to facilitate the positive uses of PRüF
and discourage bad actors. The PrüF ethos is our commitment to ensuring that PRüF will not be used to
deprive others of their rights, freedom, or property.

Q6: The private sale commend this month but why does the IO/ICO for Pruf will be on 2nd quarter which is April to June? Is this not so long time to wait? For the investors to know, can you share to us where will be the ICO/IO will be held in 2nd quarter and please share some information about ICO/IO? Thank you

ANS: It is a long time for a conventional presale, but this isn't really a "just before the ICO" presale, but rather a seed-round sale for people that are interested in joining the project at a basement level.

Usually, this would be a very closed funding round, but because are underwritten by a grant for our development expenses, we decided to open this round to to allow the early community to participate.

We are targeting a top ten exchange for our IO/ICO with a final decision pending.

PRÜF is defained as a platform to Authenticate & Tokenize your possessions on the blockchain. Whis is really new to me.

Q7: Can you explain how will the tokenization work? And what assets will i be able to tokenize? Has this been tested?

ANS: Acting as a “title” to everyday goods, PRüF tokenized assets allow the protections of title to extend to all of your valuables. PRüF private-provenance allows rights holders to securely hold, transfer, sell, and collateralize their possessions without opening their lives to scrutiny.

In addition to everyday items, collectibles, heirlooms, and capital goods under personal ownership, PRüF tokenized assets open up a multitude of options for discreet and protected asset ownership.

In the context of using PRüF to verify authenticity, in a store, you would scan a PRüF trust-enabled tag or label with your phone.

If the item being verified is real and new, it will show up as “Genuine, unowned”. After purchase, you would can open the sealed certificate in the tag, and enter the number inside using our app or the brand website.

The item is then registered in PRüF, as “owned”, and you may then register as the owner if you wish. Now the item enjoys all of the protections of a PRüF trust-enabled asset, and you can prove your ownership, transfer to another person, or do any of the other types of transaction logic supported by that asset class node.

A more detailed walkthrough is available starting at the bottom of page 13 of the whitepaper: https://pruf.io/assets/files/PRuF-whitepaper1.pdf

As far as testing goes, yes. We have this all 100% functional on the Kovan Ethereum testnet, and we have had our contracts audited by solidity.finance, and they have our results published on their site here: https://solidity.finance/audits/PRUF/

CONCLUSION

OK, Thanks everyone, Great questions!

If you want to know more, head on over to our Telegram community http://t.me/pruftalk & other social media platforms we can answer any further questions you might have!

Twitter: twitter.com/prufteam

Github: github.com/prufio

Discord: discord.gg/m4jsh6y

Reddit: reddit.com/r/pruf

BitcoinTalk: https://bitcointalk.org/index.php?topic=5287149.0

Telegram:
https://t.me/pruftalk
https://t.me/prufevents
https://t.me/pruftalkIndonesia

Website: https://wwwpruf.io

The Presale is Live!! 🚀🚀: https://wwwpruf.io/events

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