Mikhail Vakhrin, SP8DE co-founder, talks to Crypto Beast (podcast transcript)



Mikhail Vakhrin, co-founder, on SP8DE development plans, SPX & DSPX tokens and much more! Extracts of the podcast streamed by Crypto Beast.

imageSP8DE project & its value:
MV: On the most abstract level, our project is really nothing more than just an RNG. It’s a random number generator which can be used obviously in the gambling industry, but also elsewhere, and so we’re also kind of gaining some attention from other industries such as for example pharmaceuticals, where you have to use the Monte Carlo simulations to trial your drugs and stuff like this, but anyway, so at the basic level this is just an RNG. If you go a bit up, it becomes not just the RNG but the platform to which all kinds of casinos online, on-chain and whatever can get connected and be using our RNG. Basically, just indicating, just like signaling to their clients that guys, even if we would want to, we wouldn’t be able to trick you in any way, it’s just mathematically impossible. So, this is our original idea from the ICO - something worth tackling right now, and yet in the future we are going to be expanding our offering to somewhat wider by the range of things included, and so in the end what we envision ourselves to be is something like a service provider for the gambling industry, primarily gambling but also some other ones, but on the most epic level this is just an RNG so we’re more like a scientific project not so much a gambling one.


image How SPX tokens are going to be used?
MV: You’re going to be able to use the SP8DE token basically for any random generation around. Let’s say Poker Stars starts using SP8DE. In order for Poker Stars to be using our randomness, they got to buy and use our tokens.


image And what about your own poker?
MV: We are also going to have, of course, our own poker, because this is just a dream to have your own poker!


image What about token volatility?
MV: We do realize this problem that many of these gambling on-chain gambling projects, they use their own token which is utility token used in their ecosystem for betting purposes, and this token is also traded elsewhere and this creates a problem that kind of you’re betting double your betting on the outcome of the game and you’re betting that some whale won’t come to some exchange and dump your token. This volatility surely factors in, so we’re going to have for this purpose a special stable token which is going to be used for gambling in the gambling kind of applications within the system.


image Life after ICO – how is it going?
MV: It’s completely different from what the life becomes once it’s over. It’s because you got to go into this administrations stuff. You got to start building up this thing. You actually got to create something that works and that’s very hard, simply because normally all those ICO entrepreneurs are people with an idea but not so much of an experience in organizing the living organizations and that’s exactly one of those cases. So, we struggled probably one month before we actually got rid off all those people we didn’t need anymore, who were just like some artifacts remaining after the ICO and stuff like this, and at the moment when we pick those people which we actually did need and after we realized who of those people actually were worth to stay in the company… this takes time indeed.


image MVP and road-map progress – wasn’t it too unrealistic?
MV: Even though our road-map was kind of aggressive, at the same time we really lived up to every single promise that we had there. So, we didn’t delay the delivery of any of those things which we basically promised there. We are probably going to have problems delivering the entire working casino by 2019 and so, yet, as of now just something like an update, let me use this chance to give it, we are surely on the track with those people that we wanted to have in the company and all of us are just working towards the same goal. Soon we’re going to have the RNG and MVP of the product and with it we’re just going to go and conquer the world.


image SP8DE: is it a B2C or B2B platform?
MV: This is a frequent misconception, which is somehow proliferating within our community: we are not a B2C platform, that’s the big thing. We’re a B2B platform. (…) Probably decentralizing the entire back-end is not such a good idea, in the end, at least for now. So what makes sense is just to become a part of the conventional industry, but to bring all those benefits of decentralization that we can, to bring it in the all of the industry, - instead of trying to revolutionize something, create something new, we will just create something new and integrate it into something old – basically, become an evolution instead of revolution, and so that’s what we are trying to do right now. That’s basically our goal!


image Do you have any plans for DSPX?
MV: Sooner or later we’re going to have our own casino… And because whoever has DSPX, it means, that these are the guys who believed in us earlier than anybody else, because DSPX was only available during the pre-ICO. So please, don’t throw away these DSPX, leave them as they are, because they can entitle you to a lot of nice things, as the early believers when they’re actual casino will be open - so it’s going to be something like tickets with some bonuses.


image What about increasing the token price?
MV: That’s kind of simple one. Of course, basically we just want to put forward one statement. This statement is that the demand for any token is always derived from (A) speculative demand and (B) natural demand. So, all our efforts are aimed towards the natural demand. Now because we could have already for a long time started issuing all kind of pumping use and all those kind of articles - this kind of super expensive social media, and not only social but just crypto media, like an article that doesn’t say anything, just pumps the thing. You know well, of course, a lot of people are coming and start buying and then they start selling, so the thing is that the speculative demand always means reversing, so it’s always coming back to the price where it has to be pumped and dumped. In other words, what we are trying to do is just increase the natural demand, that’s why we put all of our resources into developing an actual MVP which is actually going to give rise to this natural demand, and so that’s what we are basically doing and of course here all of our efforts are just aimed at basically increasing the token price… so yup :blush:


image What about github, is it still empty?
MV: The thing is that we’re working on the code, but the problem is that in case if we’re just going to make it public right now, then nobody is going to interrupt anyone to just copy it and come to any kind of casino with their own offering like, you know, it’s not SP8DE but SP9DE or whatever SP8De… why? The point, before we have the first contract with any actual casino, that’s A, and before we have actual intellectual property protection on our code - before these two things satisfied, we don’t want to publish this code.


image Do you collaborate with Cardano?
MV: Well so, the thing is that no, and there are a lot of questions about this - you know, like “how you guys can say that you’re working together with Cardano? Well, you’re not even collaborating”. Like, go to any kind of ERC20 token and ask them, why they’re not collaborating with Buterin! (laughing) We are using the Cardano, well, we are looking at Cardano technology. It’s not ready yet, that’s the basic problem, while we are working on Ethereum until now, the thing is that the smart contract – is not ready in Cardano right now. They are delaying their road-map and that’s why we are delaying ours, so - I’m not blaming them, for it should actually sound like blaming them, because they are doing something of epic complexity! And of course, they’re going perfectly fine, but we cannot right now base our technology on them simply because theirs is not ready. As soon as it will be, we’ll port everything we have right now onto their platform.


image And are you looking at other platforms as well?
MV: You know, the thing is that we have a lot people who invested in us simply based on the premise that we’re going to be using Cardano. Okay, so that’s why one of our implementations and the first one in other languages but Solidity will be on the Cardano, this I can promise, but of course we also go looking at other platforms and we’re probably going to make it a multi-platform in the end so that anybody can use it.


image Is there anything else?
MV: Oh yeah! There is one thing, actually two! First of them, any investors in us, like you, in the first place - thank you for believing in us. I know that we have done a lot of things right, a lot of things we have done really wrong, but these are the things unfortunately to be expected, for many young enterprises, so thank you for keeping belief, that’s first. And the second thing is just to assure you that things are moving, things are going, we are now in conversation with a kind of a fund which is busy investing in many major casinos, which you know. So yeah, there’s movement on this side, we will keep you updated, informed and as soon as something pops up, pop out, we’re going to just make it public. Right now I cannot elaborate on this, simply because many of these things are under NDA, but just let me tell that the things are moving and soon we’re going to in order to reflect this progress somewhere by the end of July, I hope, probably like first dates of August - we’re going to release a new website with a bit of a different conception which we are embracing, and then basically all those things will open.