On May 14, KILT Protocol participated in the AMA with PolkaWarriors to introduce and answer questions of the community about their project.
KILT is a simple protocol for creating, claiming, issuing, presenting and verifying digital credentials. In contrast to peer-to-peer solutions for this, KILT features self-sovereign data as well as revocable credentials using blockchain technology.
The AMA session was held in PolkaWarriors’ Telegram Channel, with the participation of Ingo Rübe - Founder & CEO, Christine Mohan - Vice President of Business Development, Elisa Dratsdrummer - Communications and Public Relations Manager and Paul Pomerleau - Community Manager. Many interesting questions from the community were answered by their core team.
Below is the recap of the AMA session.
1. What important milestones does KILT aim to achieve by the end of this year and in the future? How will KILT be successful in 2021 and beyond?
The next milestone is definitely securing a Kusama parachain as soon as auctions start. This will enable us to kick off mainnet. This comes in parallel with launching the first version of the KILT wallet, called Sporran. When the network is live, we will start to onboard the collators and perform final security audits.
After two months the network should be in a state where we can remove the Sudo key and hand over the network to the community. Which is surely the biggest milestone in the life of a network. By that time we will also launch the full version of the Sporran, which then can also request, store and present KILT credentials.
2. How is KILT development going? Can you describe current development status, market expansion plans, expected applications?
The digital Identity functionality of KILT is ready and tested. The SDK, which makes it easy to develop applications on KILT, is also ready and tested. KILT will go live with full identity functionality. Many companies from inside and outside the blockchain space have already started development of KILT applications. Examples are exchanges, the energy sector, the gaming industry and health care. The use cases for KILT are endless.
This is the best pre-condition for a market expansion. What we do on top is our Certified KILT Integrators programme. It allows development companies, which are strong in specific verticals and already have sound customer relationships in this sector, to custom build KILT applications for this sector. Of course the KILT team just supports and does not take any revenue shares here. It is our mission to make developers successful.
3. What is your strongest advantage that you think will make your team leading the market? In contrast, what is your weakness? How do you plan to overcome it?
Our focus on digital identity and verifiable credentials is both our strength and our weakness. It is a strength, because the use cases are infinite, and identity is relevant to every human being.
It is a weakness - or rather, a huge challenge - because we are still in a Web 2.0 world where users are conditioned to sign in with their Facebook and Google credentials etc. So KILT has to replace a very popular consumer behavior, and offer another alternative. We need to show users there is a new way to maintain control over their data and their identity. KILT is bringing real-world trust to the digital world. This is a very exciting mission and so important for the future of Web 3.0.
4. What inspired how you arrived at the project name "KILT"? In a real sense, what significance does the name have in the project functioning and ecosystem development?
The KILT is a Scottish man’s skirt. We find it a perfect symbol for what we do, because it represents an identity without revealing too much about the wearer. From the KILT itself you can guess the wearer might be Scottish, and from the pattern you might also guess which clan he belongs to, but anything which should stay private will remain private…
And what’s also nice: a KILT is not complete without the little purse worn in front of it. This purse is called a Sporran, which is not accidentally the name of the KILT wallet.
5. What made you create KILT?
The unpredictable gas fees of a smart contract-driven blockchain was one of the reasons we selected Polkadot/Kusama/Substrate as technologies to build KILT upon. These technologies enable us to build a “purpose blockchain”, which just handles digital identity. This enables us to provide high throughput and low, relatively predictable and stable gas prices, which are key requirements to an identity system.
In the live questions sections, their team did answer several short questions from the Polka Warriors community.
1. Can you talk about the future plan of $KILT ? and How can I contribute to the development of $KILT ?
Like all open source projects, we depend on developer contributions. The smartest way to contribute is building applications on top of KILT. Either for industry (charging them) or as a venture (selling your product). If you are not a developer, you can for example run a Collator Node and contribute in this way.
2. All project coins have their main Utilities & real-life use case! So, Can you tell us what is the main role of your coin in your ecosystem? Explain it's Utilities & Real-Life use cases? and Why should I invest in your coin for the long term?
KILT Coins have many purposes. Of course there’s gas. But also we will launch Token Curated Attesters. These are virtual companies, issuing credentials on KILT. These companies live on the KILT Blockchain and the shares of these companies are paid in KILT. Of course there’s also staking for the Collators and Delegating to the Collators.
3. Is KILT available for the global people or It’s limited to some areas? If it’s globally available are you guys planning to introduce it globally?
KILT is definitely global. We already have supporters all over the world and KILT Projects emerge on every continent.
4. Is your project fully decentralized and is there some risk of centralization in the future?
KILT will start in Sudo mode for a couple of months until full decentralisation is reached. We aim to be fully decentralised 3 months after the latest golive.
5. Collaborations and partnerships are some of the most important cornerstones to help improve adoption. Can you tell us about your current partners, plans for partnerships and what everybody stands to gain from these partnerships?
You are completely right! We offer many types of partnerships. Most importantly the KILT Integrators Programme. These are companies building software on top of KILT for their clients. Like in other open source projects, this will be the most important driver of adoption and also create many many jobs.
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