CAPITALB AMA Recapitulation - Solipay

⏏️Solipay is raising the bar when it comes to the sale of private consumer information. Unlike the status quo, we believe that every consumer should get a say in the sale of their most important data. Qualify to get paid for your data by trying one of our mobile apps + chrome extension today!

Questions From Host!

• Q1) What is Solipay and How does Soli work?

I’ve given a quick intro on Solipay, but Soli pays people for shopping at partnered in-person and online retailers, including brands like Adidas, Levi’s, Popeye’s, Little Ceasar’s, and more. We track and reward users with cash after connecting their bank accounts to Soli through the secure Teller API.

• Q2) Why did you build Soli?

Private citizens know that their data is what companies leverage to fuel their participation in the data economy, and many dislike this known fact. Simultaneously, billions of people use apps like Facebook and Instagram. People will share their data for an experience they feel significantly enhances their lives. Soli seeks to make data monetization for everyday people ubiquitous and help the masses tangibly enhance their lives.

• Q3) How do you recommend people use your product?

After downloading Soli, follow the onboarding guide and connect the bank account for the cards you use for most commercial purchases. Once you’ve connected your cards, check your map page for any local retailers that offer cashback. Think about where you currently spend money and imagine which stores on the map can replace those locations to maximize your savings. Next, check the home page and view online offers. Many of the online retailers listed offer significantly more cashback than in-person locations.

• Q4) What’s next on Soli’s roadmap?

We will implement technologies like yield protocols that will turn your passively generated cashback into a steadily growing investment wallet. There is a Soli Discord for people who want to discuss such implementations. We ask for the engagement of people who want to optimize the monetization of personal data. We also ask for shoppers that can help us understand economic trends.

• Q5) Where can the audience follow Soli?

Join our Discord Server, and follow us on Twitter at https://twitter.com/SolipayTech

Question’s From Twitter

• Q1) I read SolipayTech early use case is country verification. Do you plan to bring user approved browsing and bank transaction data on chain in the future to enable new opportunities around marketing and compliance?

This is something many in the community are curious about. We encourage further discussion on the use cases for this. For use cases that allow us to keep bank transaction data anonymized, bringing more data on-chain is certainly a possibility.

• Q2) Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relatiionships?

Solipay is deeply involved in communities building the future of web3 and decentralized data monetization. There are several organizations with whom we’ve worked in the past and continue to work. We’ve received an Ocean DAO grant and stay updated on developments in that community. Our team has also received a grant from Streamr and developed data streams for it.

• Q3) Although the concept of paying consumers for their data is intriguing,In practise users usually abuse this. How will SolipayTech ensure that the users are legit ? What safeguards do you have in place to protect yourself from those that don't try to make money ethically?

I’d have to think of ways in which someone could fraudulently create a cashback transaction. The issue of dummy transaction data is taken care of by the Teller API, which will only keep track of verified transactions. Then, a user has to buy something in person or online in order to get cashback, which adds another layer of verification.

Q4) I understand that Soli is building the system that pays consumers for their data. So, what would be the requirements for a person to be able to enter your project and provide their data? What would be the remuneration that the people who give their data would have?

A person need only have a bank account that the Teller API supports. Then, they can spend at partnered retailers and make cashback. It’s that easy!

• Q5) What are your current plans to onboard new clients and what market are you targeting?

We’ve reached out to organizations pioneering the ethics of data privacy to collaborate with them. Sharing our product in these communities has consistently been fruitful. We’ve gone to stores in our rewards network and shared flyers with them detailing how Soli pays their customers for every purchase. They can share this information with their clientele. Our app users can be anyone looking to save cash on their daily transactions. We’re open to the total available market.

Question’s From Community!

• Q1) Do the token holders have right to participate in the governance of the project? On what kind of decisions can they vote on about the project?

In the future, we may offer exclusive access to discord channels and community management roles via an NFT. This would give NFT holders a stronger voice in the community

• Q2) Can you list 1-3 killer features of your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?

1. Active and passive opportunities to earn cashback
2. The community’s direct influence on the future of the product
3. A young team that wants to set right the mistakes made with data monetization so far with ingenuity

• Q3) Does KYC authentication required for users in SolipayTech, then there is a possibility of Lots of Fake profiles and how do you manage to Prevent scam Happening from this?

Since you need to connect your bank account to Soli with the secure Teller API, we know that we’re working with real people every time we have a new account.

• Q4) How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?

Our Discord and Twitter Channels are the best places to look for new information. Our homepage will also reflect significant changes in the future, so look forward to that!

• Q5) IS This Your project only for elite investors, how about others with small funds, is it open to everyone?

We encourage anyone looking to save and earn money to use Soli! Investment flows that we implement will be accessible and easy to use for people regardless of how much cash they have to invest.

More Information about Solipay!

Soli Website: https://soli.xyz/
Soli Discord: https://discord.com/invite/e2FspwWQ24
Solipay Twitter: https://twitter.com/SolipayTech
Solipay TikTok: https://www.tiktok.com/@solipaytech

❤️ Follow Us!!!

- Telegram Group: https://t.me/CapitalBlockChainX
- Telegram Channel: https://t.me/CapitalBlockChain_News
- Twitter : https://twitter.com/CapitalBlockCin
- Website: CapitalBlockChain.org

AMA RECAP BY CAPITALB TEAM