Recap of #AMASeries15: Crypto OLALA x Paparazzi and Mr.Sungmin Yoon — CEO of the Paparazzi.

Crypto OLALA
8 min readAug 4, 2020

On August 3rd 2020, Paparazzi team and Crypto OLALA group organize an AMA to make the community members know more about Paparazzi and what is its application? Here is recap of it:

Due to the conflicting schedule, Mr. Sungmin Yoon — CEO of Paparazzi will not be able to attend the AMA today, the person attending with us will be Lina Jang — CPO Paparazzi and Mark — Pazzi Team

Segment 1: Introduce and Question Warm-up: Moderator Mark will ask 2 question warm-up.

Moderator Mark:

Question 1: Can you please briefly introduce yourself and PAPARAZZI Platform Project?

Lina Jang — CPO Paparazzi:

Paparazzi is both a user-centric and a photo-centric blockchain-based platform. We are providing an inclusive platform, where users can utilize photos to engage in commerce, social networking, or leisure. While our application is user-centric, the platform is photo-centric. Every transaction or interaction on the platform is powered by the user’s pictures. Unlike most blockchain applications, the user interface (UI) is designed simply to let users easily navigate, take pictures, and share them with friends, family, and followers. Paparazzi ecosystem consists of both users and enterprises as businesses can conduct advertising campaigns or referral campaigns for users to write photo-reviews.

Done.

Moderator Mark:

Question 2: As planned, the Mainnet and Pazzi Applications will launch in the third quarter of 2020. However, countries such as South Korea and the United States are affected by Covid-19. Does this affect the Paparazzi Team Q3, Q4 2020 working process and plans?

Lina Jang — CPO Paparazzi:

While we hope that the COVID-19 situation ends as soon as possible, the Paparazzi team will not be affected in terms of the development. Rather, COVID-19 situation is requiring changes in the way users earn and spend. As a blockchain-based online platform that decentralizes the economic ecosystem based on pictures, we hope to acquire more users.

Done.

Moderator Mark:

There are many members we are waiting for this app Pazzi launch. So , can you share more and let us know the interesting things of Pazzi Application?

Pazzi_Mark — Pazzi Team

Paparazzi application is a photo-centric application. Based on the UI that we’ve shared, you may notice some similarities to Instagram & Tiktok. However, we will have other token-centric services implemented together.

Segment 2: Question Selected Form:

Moderator Mark:

🚩We received over 130 questions in the process of collecting questions from the Form
Now, we begin with 5 questions that have been selected:

Question 1️⃣: How to attract more users to want to use PAPARAZZI product , if the user has no experience at all?
From @victbt

Lina Jang — CPO Paparazzi:

Paparazzi application focuses on two core features: simplicity and usability. Blockchain applications fail to gain users not only because of technical limitations in scalability (TPS) but also because of lack of usability. Our team’s goal is to ensure blockchain implementation that encourages users to make the transition from traditional applications. Once a user begins to use the application, the user interface (UI) is designed simply to let users figure out functions such as chat, upload, and scheduling without detailed demo or instruction.

Done.

Moderator Mark:

Question 2️⃣: Whats the main work of Blockchain technology in Financial services which provided by PAPARAZZI? What role Blockchain plays in PAPARAZZI services??
From @Aihonake

Lina Jang — CPO Paparazzi:

Paparazzi implements IPFS technology and blockchain to create a true P2P application that powers the visual-centric ecosystem. Photos can be saved on the robust, secure private blockchain for safety. Using blockchain, all visual content uploaded will have a traceable identifier (TID). The TID will allow users to trace copyright and prevent unjust distributions. When users register on the Paparazzi mobile application, the user will automatically be registered on the IPFS node. The user will allot an IPFS directory with an ID.

Done.

Moderator Mark:

Question 3️⃣: How can a combination of the public and the PAPARAZZI blockchain consortium be used, and what benefits will it have for users over traditional software integrated into a centralized system? Give us an example, please. Have you finally resolved the issue of compatibility between heterogeneous environments?
From @puppyz1

Lina Jang — CPO Paparazzi:

Paparazzi currently do not support cross-chain transactions. As our native application is built on our proprietary blockchain, there is no need for other blockchain support. Later as we expand our ecosystem, we are planning to add cross-chain support.

Done.

Moderator Mark:

Is Mainnet Launch available in Q3 2020?

Pazzi_Mark — Pazzi Team

Is Mainnet Launch available in Q3 2020?

Moderator Mark:

Question 4️⃣: What is Paparazzi Project vision of the BlockChain industry? Besides, you can point out 3 points that your project is better than other competitors?
From @hotelsns

Lina Jang — CPO Paparazzi:

Blockchain technology establishes a different paradigm for individual entities. Using blockchain technology and cryptocurrencies, individuals can enjoy decentralized methods of earning. Due to this intrinsic features, Paparazzi team envisions developing the photo-centric sector within the blockchain industry with our native application. The reasons that Paparazzi team is superior to other competitors are the following: simple and beautiful UI, variety of token-centric services, and innovative technologies.

Done.

Moderator Mark:

And The Last Question
Question 5️⃣: What is the Paparazzi community economy, and what are the incentives for users to actively participate in ecological construction? From @ahribla

Lina Jang — CPO Paparazzi:

Paparazzi team is focused on creating a decentralized platform, where users can have multiple streams of revenue. During that process, there is a need to develop a strong community and ecosystem. The incentive for users is to earn Pazzi tokens which are in nature built to have storage of value and scarcity.

Done.

Moderator Mark:
Very quick, we have completed 5 questions Form 😁😁😁
Great. Many thanks for the answers Ms. Lina Jang and Mark — Pazzi Team 👍
I think you’ll need some tea or coffee to stay awake enough to answer segment 3 questions. It’s really a lot.
There are many questions waiting for you
😆😆😆😆

Segment 3: Free Q & A between the community and PAPARAZZI Platform project.

📍Community members will conduct questions to PAPARAZZI Team. Group will proceed to open chat in 90 seconds . We have 2 round.
Ms. Lina Jang and Pazzi-Mark will answer questions from the community.

Moderator Mark:

Ms.Lina Jang and Pazzi-Mark. This is your place, choose and answer the questions you like. Thanks

Question 1: It’s quite unfortunate that many projects have infiltrated the market with just white papers without having any genuine use cases. What are the main utilities of the PAZZI Token?

Pazzi_Mark — Pazzi Team

It’s definitely unfortunate that there are many projects that only have whitepapers. Paparazzi has some development update for the community. Our use case of the PAZZI token is quite clear. All economic transactions within the ecosystem utilizes Pazzi token.

Question 2: In the crypto field, it’s very hard for projects to generate revenue/profits, some projects have a 10% dev share(10% from transaction fees taken by the project), can you explain to us in what way that PAZZI creates revenue/profits?

Pazzi_Mark — Pazzi Team

That’s right. Pazzi takes fees from advertisement and transactions. However, we will be taking minimal margins from this as we are aiming for a user-centric platform.

Question 3: Paparazzi seems very similar to Instagram, simply excluding videos. What features are different and unique to Paparazzi?

Pazzi_Mark — Pazzi Team

Instagram does not offer a lot of options for users to generate revenue. Paparazzi will offer a lot of token-centric services for users. This will help users to generate revenue.

Question 4:Besides the Asian market, do you plan to expand to America as well? Which countries would you do it to first?

Pazzi_Mark — Pazzi Team

Yes, we are targeting USA after the Asian market.

Question 5: Few days ago you listed on MXC. So, what’s next? What other way will you make PAZZI more popular?

Pazzi_Mark — Pazzi Team

Being traded on the top exchanges is definitely important. However, releasing our application is also a high priority for the team.

Question 6: Eth has a very high gas fee because of DeFi on fire, how does $PAZZI guarantee low gas fee?

Pazzi_Mark — Pazzi Team

Through our native blockchain, we can reduce the transaction fees a lot!

Question 7: How will you manage your platforms if there will be unexpected problem occur in the future especially hacking issue which infact your platform has some personal data of some your users? Is your platform is ready to face this kind of situation if ever?

Pazzi_Mark — Pazzi Team

Yes, prior to releasing the applications we are working hard to run tests for protecting user data. However, in the near future we will implement DID to add further security measures for the application.

Question 8: The main problem with blockchain applications is the small number of users. How will the PAPARAZZI app solve this situation in the future?

Pazzi_Mark — Pazzi Team

That is very true. So Paparazzi will implement social logins. By providing easy sign ups with users’ favorite social accounts, this will be an easy transition for the users. We don’t want to create barriers of entry for the users.

Question 9: About $PAZZI, what type of token is it and what uses does it have on the platform? Is it possible to trade and stake with this token? Is PAZZI listed on any Exchange? If so, in which ones? Thank you!

Pazzi_Mark — Pazzi Team

https://trade.kucoin.com/PAZZI-USDT
PAZZI is an ERC20 token. It can be used for P2P payments, content mining, and purchases. We are listed on KuCoin, MXC, and more. Also, Paparazzi team is keen on making more token-centric services.

Question 10: Most investors simply focus on the price of the TOKEN in the short term, and not on the real value of the project. Can you tell us about the motivation and advantages of PAZZI investors in the long term?

Pazzi_Mark — Pazzi Team

Most investors are focused on the short-term because most altcoins don’t have a clear use case. For example, users don’t know where ETH is used besides for Gas Fees. However, Pazzi is used within the ecosystem for payments, content mining, and much more.

Question 11: What markets are you targeting first? Are you planning to launch a global partnership program?

Pazzi_Mark — Pazzi Team

Yes stay tuned within our community: https://t.me/pazzi_en for the latest updates.

Question 12: What’s the main role of $PAZZI Tokens in Paparazzi Platform? Why should we invest in $PAZZI Tokens?

Pazzi_Mark — Pazzi Team

There hasn’t been any other blockchain-based application that has a clear use case of the token. From purchasing pictures, subscribing for content creators, and much more Pazzi has a simple use case for the daily user. With a limit supply and no further issuance, Pazzi token has a storng use case.

Question 13: Tell us what’s the main role of Blockchain Technology in Paparazzi Project? For Photos / Images, why you need Blockchain Platform?

Pazzi_Mark — Pazzi Team

Blockchain technology is used for Proof-of-Copyright. This helps users to protect their copyright and photo assets’ value. One of the key issues with other social media is that we don’t have a clear guideline or protection measure for misues or duplication of the photos.

Moderator Mark:
Thank you Ms. Lina Jang — CPO of Paparazzi and Pazzi_Mark- Pazzi Team for spending time today attending AMA with the Olala Crypto community
Hope Paparazzi will more successful in the future
➡️If you still have any questions, you can join the https://t.me/pazzi_en
directly ask the admin and Paparazzi Team to get the most accurate and fastest answer.
Thank you @pazzimanager @pazzi_lina
We look forward to your activities in Q3 2020, especially the Pazzi Application 😀

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Crypto OLALA

Crypto/Blockchain group for AMA, Airdrop, Bounty, Blockchain project analysis and news