On September 17, IntegriTEE - A Decentralized Platform for Trusted Execution participated in the AMA with PolkaWarriors to introduce their project.
Integritee is a system that unlocks the value of sensitive data by combining the trust of Polkadot/Kusama , the scalability of second-layer sidechains, and the confidentiality of Trusted Execution Environment (TEE) hardware. Integritee aims to power a new generation of data-driven dApps and services. Achieving this will depend on establishing trustworthy public auditability and transparency, to allow everybody to verify that the correct code is executed on genuine TEE hardware.
This AMA was held in PolkaWarriors Global Telegram Group with the participation of Waldemar Scherer – CEO & Co-Founder of Integritee AG. Many questions have been raised for the IntegriTEE team, which shows the community's interest in their project.
Below is a summary of the outstanding questions and answers from the AMA session.
1. Why did you choose Kusama and the Polkadot network? What are your plans for Integritee's project in the future? How will Integritee develop to compete or replace Ethereum?
We chose Kusama and Polkadot because it is a scalable and secure protocol that serves as the foundation for an interoperable network of blockchains and provides the basis for Web 3.0 —a new, fully decentralized internet. For Integritee, the Polkadot Relaychain will provide public auditability.
Integritee has appeal for a broad range of enterprises across different industries and the appeal of Trusted Execution Environment technology as a privacy preserving technology will only continue to grow as people and companies place more emphasis on data security and sovereignty and regulations shift to reflect that.
2. Can you articulate some details of the metrics and the governance model of the $TEER token? What is the role of $TEER in the platform ecosystem? What are your strategies to help drive the demand and increase the token value, thus making profits for long-term holders and investors?
Great Question! The TEER Token supply at genesis will be a hard cap of 10M TEER and is directed at utility and governance.
Token holders will ultimately control the governing council as they can elect the council, which ultimately has control over the allocation of Treasury funds as well as Incentive funds. In addition, token holders and the council can suggest and vote on changes to the Integritee Network/Platform.
Firms intending to use Integritee’s service need to acquire the token, either
on the open market or through an intermediary that accepts fiat payments and pays the onchain fees on their behalf. This creates a direct relationship between the value of Integritee’s services and the demand for the token. As a result, when the demand for Integritee’s services increases, demand for TEER – and its value – will also increase.
The core competitive advantage of the Integritee platform is its technology, which enables a service that is superior to the competition. The TEER token has been designed so that its value will reflect this core competitive advantage,
thereby linking the value of an off-chain
technology with an on-chain token.
3. With the development of blockchain technology, an infinite number of blockchain projects have appeared on the market. But people prefer/ will accept projects having real use cases. Can you tell us about real-world use of Integritee or solutions that contribute to this?
Absolutely - Could not agree with you more! There is no bigger use case than Data in the present market and world we live in. Data has outstripped the value of all other assets and as a result it has become more and more attractive for cyber criminals to abuse.
Data drives innovation and value ($274bn* in 2022) – however, the increasing pressure and awareness from regulators and users pose significant challenges. Through blockchain, Integritee has the potential to provide the perfect answer to trust.
What if you could unlock the value of data, without access to the data itself ? A trusted execution environment (TEE) is a highly secure, isolated area within a computer processor that is separated from the system’s main operating system. It ensures that data is stored, processed and protected in a secure environment. Integritee combines the confidentiality of TEEs with the trust of blockchain. This enables multiple firms or consumers to process data in pre-agreed ways, without having direct access to the full underlying dataset.
Integritee provides a trusted technical foundation. There are far too many potential applications to list but they affect every industry and you personally too! Some examples include:
• Financial dapps.
• Medicine, wearables. An Integritee sidechain can be used to share medical data with a medical dapp.
• AI networks that process input data in private mode.
• Data storage.
• Bridges to other blockchains.
• Private messengers.
• Decentralized identities.
• Data analytics.
4. The majority of crypto projects are built for the purpose of increasing their own assets. So I want to know what value you want to bring to the crypto industry?
Integritee is one of the most advanced scalable privacy chains, that allows the creation of GDPR-compliant dApps, private smart contracts, launch oracles.
The most important thing to understand is that Integritee can host any blockchain in public or private mode. Our predecessor SubstraTEE was meant to be a set of tools for other ecosystem projects. We realized that many potential adopters of the technology won’t be able to obtain their own parachain slot. So that’s why we saw the potential of pooling all these projects on a dedicated parachain.
Remember: you can launch any Substrate-based blockchain on it as a sidechain. It’s a platform for blockchains. Among its features:
- Smart contracts. Can be written in Rust or Ink!
- Privacy. It’s possible to turn any blockchain into a private one by launching it on Integritee. It’s possible to share any sensitive information with any 3rd party and control it.
- GDPR compliance. Due to its privacy features, Integritee is tailored for enterprise use, as it allows to store safely any data in a decentralized way.
- Scalability. The architecture with side chains allows the network to scale to 1,000,000 tps.
5. Why did you choose Kusama network? What are the benefits to your project? Are you planning to launch your mainet or switch to other blockchains in the future?
For Integritee, the Polkadot and Kusama Relaychains will provide public auditability and interoperability possibilities.
We are planning to launch our mainnet in Mid-October no matter what the outcome is of the current parachain slot auction round. We can launch and then migrate to a parachain as soon as we win a slot - which we will very soon!
We also plan to obtain a Polkadot parachain slot once the Polkadot parachain auctions start!
6. Many new projects develop well at first, but then fail to achieve good results. How will you manage and develop your project to gain a position in the market and become a good project in the blockchain industry?
We have a different approach. We spent years developing the technology before we brought the project to the attention of the public for exactly this reason. We wanted to be sure that we had a solid foundation before we started building awareness.
Our product and its security and reliability will always be our primary concern because it is the foundation of the service and the entire token economy.
We are focusing now on helping people realise the potential of Integritee and building strong organic communities with dedicated and interested supporters to support our growth. Our community is incredibly important to us!
We have also already announced a number of high value partnerships - even before securing our 1st parachain slot! These include:
• Litentry - a network which provides privacy-first, decentralized identity aggregation computing services.
• Ternoa - a network which uses top decentralized storage providers (SIA, Arweave, Filecoin) to ensure the long term integrity of the encrypted and segmented data.
• Polkadex - The trading engine for Web3 and DeFi · Polkadex is a fully decentralized peer-to-peer orderbook-based cryptocurrency exchange for the DeFi ecosystem.
And we have multiple more partnerships which we hope to announce in the coming weeks and months.
7. Integritee currently resides in the Polkadot network. But, do you have plans to expand to other networks like solana, BSC, etc...? The integration of a bridge in different chains is very useful for investors and their assets in terms of cost reduction in rates.
Again – great question!
Yes, we are planning to introduce Bridges later this year and start to connect different ecosystems and make it even easier to use intergritee’s advantages. This again shows our commitment to build up an interconnected ecosystem and not to create another silo.
8. Nearly 76% of investors have just focused on the token price in the short term rather than understanding the true value of the project. Can you tell us about the motivations and benefits for investors to hold your tokens long term?
The value of the TEER token is driven by demand for Integritee technology. We know demand is high - as we can show by the number of interesting partnerships we are exploring in and out of the blockchain space. As demand continues to grow the value of the token will increase in the long term - which is an incentive for investors to hold it in the long term.
Our intermediary framework also allows for our technology to become accessible to enterprises outside the blockchain space. Investors have a vested interest to hold on to the token against exchange fluctuations and potentially fulfil the role of intermediary or capitalise on this market structure.
The TEER token has been designed so that its value will reflect this core competitive advantage, thereby linking the value of an off-chain technology with an on-chain token.
By definition, the TEER token has an intrinsic value: users need it to pay for operating in the Integritee network. To ensure that costs are stable and predictable for Integritee users, the usage will be denominated in fiat.
Payment, however, occurs in an equivalent amount of TEER tokens, based on the live exchange rate with fiat. Under this assumption, the price of the TEER token might become irrelevant given that its intrinsic value is a multiple of the quantity of service it can purchase.
In the live section, Waldemar has answered several short questions from the community
1. Where can I buy your tokens now, what are your current contracts address and how can I buy them and what are the benefits?
Currently you can participate in our Crowdloan campaign or wait until we get listed in Q4 this year to buy the token on an exchange
2. Many projects have problems with UI / UX and this one turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?
We are a 2nd layer technology and therefore we don't offer a specific UI, we focus on the ease of integrating with our platform and of course robustness and confidentiality is super important to us.
3. Ambassadors play a very important role in every project, Do you have an ambassador program? If yes, how can I be one ?
I absolutely agree! And yes, we are definitely planning on an ambassador program to continue to strengthen our connection to our community. Details will follow soon so please stay tuned on our TG and Twitter.
4. How strong is your team? Many projects started with a good impression and later abandoned the project. What makes your project different from others?
The Integritee project team is led by seasoned and committed blockchain veterans who have been developing decentralized solutions for complex, tangible, real-world problems for over half a decade. For our pioneering efforts on combining trusted execution environments with blockchain technology, the team has received grants from both the Web3 Foundation and Polkadot Treasury and our proposed parachain has been successfully deployed on the Rococo and Westend. We also have a lot of experienced advisors on board that have a long term interest in the project.
5. How can we support your project? and what feedback would you give to the community?
Great question! You can support us by supporting our Crowdloan campaign to help us secure our Kusama Parachain slot and drive Integritee forward! And by being an active and respected member of our global or your local community. We place immense value on our communities and try to provide as many local language groups as possible.
6. What social network does your community focus on, how do they know about your project? I want to join the community, where can I find it?
If you would like to learn more about Integritee and join our community - we have loads of information and resources on our website (https://integritee.network/ ) - where you can also learn more about our Crowdloan campaign. If you have any questions after the AMA you can always join our Telegram Group (https://t.me/Integritee_Official ) where our team will be happy to help out! We have Telegram Groups for lots of countries in different languages. And of course, for our latest announcements and updates you can follow us on Twitter (https://twitter.com/integri_t_e_e ).
7. What do you think is the most unique thing Integritee brings to the blockchain community? How is it better than other platforms?
Integritee solves the 3 main issues of Blockchain as of today. Its Scalability, Interoperability and Confidentiality at the same time without downsides. Additional to that,
Integritee can be used to host any dapp or blockchain. Any financial dapp, running on Integritee, will get private features. So, if someone will try to launch a DEX with privacy features, it will only require changing a few lines of code to port it to Integritee.