MORPHEUS LABS MITx — CRYPTOVERSE AMA RECAP
4TH OCTOBER 2019
GUEST: Robbie — Community Partner at Morpheus Labs & Tommo
Q — Please briefly introduce the #MITx project to Cryptoversian?
A — Morpheus Labs (MITx) is a BPaaS (Blockchain Platform as a Service), blockchain agnostic platform, aiming to bridge the gap between blockchain and the real world (companies, devs, students). We are integrating a lot of blockchains (ethereum, vechain, EOS, NEO, waves, Wanchain, Tomochain, CPChain, NEM, NULS, Hyperledger, ProximaX and many more. Realistically, we hope to have as many blockchains connected to us, where companies, students and developers can ‘develop’ on the platform. We focus on building the tools to develop on blockchains, while we let blockchain companies focus on improving their blockchain.
Q — How important will be our Indian community in your Morpheus Ecosystem? & do you have any plans to get Us onboard? If yes how?
A — We’re a middleware facilitator, we provide a platform on which others develop. The Indian community (as demonstrated here, and in previous AMA’s) is huge. I know there is a big developer community in India too, which could use our platform to create Dapps and monetize them. We love to participate in AMA’s like these (and our previous Indian one) but besides that, there are no active plans to get into India right now; mainly due to focus on other countries where we have more connections. If anyone has any good ideas to cooperate, or connections to enterprises/companies/universities that would be interested, feel free to send us a PM and we’ll gladly try that route.
Q — Who is building on Morpheus’s Labs and what are they doing? What are the major milestones you achieved so far?
A- One of the bigger milestones we had was Dreamplus (Hanwha), a South Korean startup incubator and innovation platform. We co-facilitate the Blockchain Academy there, so students can learn different protocols and develop applications on our BPaaS. Besides that, right now we have a few other educational parties using our platform for curriculums on their blockchain courses (and more testing in different countries).
Other people/entities who are building are new developers who are looking to learn, or more experienced developers that are looking for a centralized place to create their dapps.
We’re working with a few bigger companies on PoC’s, and recently announced some tidbits of something that should come out in October (Medini). We managed to also work/partner with numerous blockchains such as NEO, Waves, Vechain, EOS, Chainlink etc during 2019 on which we’re working to do things like hackathons, curriculums and events with. More of these should follow 😊. I’m proud of the way we positioned ourself in the crypto market regarding partnerships; now it’s time to focus on the enterprise/business market and we’re actively working on that.
Q — How does Morpheus Labs help organisations and developers and what are the benefits of Morpheus Labs giving them?
A- We offer 24/7 support if people or companies need help; we can help with deciding which blockchain would be best for their problem (high tps; scalability, etc). We can get them in touch with developers that we know from the platform that are good at what they do. Besides that, it’s a subscription fee that you can stop if you no longer require it; no matter how ‘big’ you want it to be, the costs are mostly dependant on the subscription fee. Its basically less time-consuming and cheaper to do so, while there are experienced people who can aid. Another plus is the ‘all in one’ platform, that offers all the blockchains and the tools to work with them. We’re expanding with things like blockchain certificates (V-ID) and Chainlink (decentralised oracles)
Q — As I see on your website that you’ve done partnerships with some projects like QuarkChain, NULS, NEM ! So, what’s the actual benefits of these partnerships to Morpheus Labs project ?
A- It all depends on the partnership; but for those that have a mainnet that will eventually be integrated into the BPaaS will be able to have developers use their blockchain and it’s a win win for everyone. Others we might just have an educational partnership with, or they add a new layer to create a whole ecosystem in the BPaaS. We’re always on the look-out to see how we can get bigger, but most importantly, better. We can the BPaaS to be the centralized ‘go to’ place for any student, company and developer, and that’ll require a lot of work still. Most of these benefits are mutual. Since if people use us more, these ‘partners’ get increased demand too.
Q- What do you think is the biggest problem that morpheus labs needs to solve because there are no other projects that are currently being solved? Why do you need to solve this problem?
A- Basically, reduce the hurdle to get an entry into blockchain. As a medium to small company it’s hard to dabble in blockchain because you often lack knowledge, finances and time to implement it thoroughly. Why try out something that might not work, or needs tweaks to work without any guarantees? By using us, you get a 70%~ cost reduction from ‘conventional ways’, because we are a centralized place where you can not only try things on 1 blockchain, but on several (with more being added). We offer support and guidance during this process. Besides that, if you want to learn how to develop; where do you do that? You can teach yourself, or try a course somewhere; but most of these courses and/or online tutorials focus on one coding language and/or one blockchain; Ethereum being the ‘easiest’ entry mostly. So, we try to make different skill-set curriculums for every blockchain (from easy to expert). We get aid from those teams we partnered with to write them together, which is a win win.
Q — Whats the meaning and work of BPaaS ? Why it is beneficial to Morpheus Labs and Businesses ?
A — BPaaS actually means Blockchain Platform as a Service. Same as there is also Software as a Service. But in our case, it is a platform related to Blockchain. It is beneficial for business as we are the one stop shop when it comes to blockchain solutions. Businesses can build, test and deploy blockchain solutions on our platform. This with 70% less in cost and 60% less in time. So the platform does all the heavy lifting for them.
Q — What is weaknesses of your token you want to improve in future? What is future plans of increasing your network?
A — Well, as demonstrated; our token dropped quite substantially in the past month, after it had a bit of a growth-spurt. Liquidity is an issue, volatility is an issue, the overal state of the crypto-market can even affect it (btc drops, a lot drops). We want to take steps on this in the future by offering our token on more exchanges, get more stability and liquidity and help where we can. Our treasury revolves around open-market buying from fiat for subscriptions; so this should be a good step towards this all.
Q1: There are a lots of competitors in Blockchain as a service group and there are some projects now is better than Morpheus Labs so will Morpheus Labs in future be able to stand up and beat thems?
Q2: All of your main sources of revenue come from fee and course and nowaday less less peoples like to pay fee for subscription so whether Morpheus Labs current income is enough to maintain the platform long-term in the future?
There’s a few competitors; yep, but none are a ‘BPaaS” such as we are. In order to make sure we stay relevant, we can’t ever stop working on our platform, adding new features, getting new partnerships in, offering the latest new ‘blockchains’ and alltogether educating ourself in the scene. Below is a graphic that showcases some of the differences on our competitors (some are missing).
Q — You said ALL of the different revenue streams like subscription fees for example, will be eventually paid in MITx. But it is just natural that you also need a share of the revenue to finance your business? Can you explain, what eventually will happen with MITx that are paid as subscription fees, and how they are locked? How will they come back in circulation?
A — Our tokenomics explain this reasonably well. Ofcourse we’ll take a cut to make sure we can pay for operational costs (employees, cloud servers, etc) — which we’ll do from Fiat mostly. We determine which amount of MITx to lock (can’t give out how here) and then it gets locked for a time, but also released eventually (for communities and partners) which can go back to the market, or app library.
Q1. Morpheus Labs focuses on companies/individuals that want to use blockchain but do not yet know how or you’re aiming at experienced ones?
Can both sides of the users equally benefit from features of your platform?
How can i as a non dev can put something together using Morpheus?
Q2. What may be the core benefits for dapps devs to deploy their solutions on your platform?
A — Correct, hence why students and education is a big pillar for us aswell. there are tutorials and explanation video’s on the platform on how to build on blockchain. So even you as a non dev can be able to use the platform by applying these tutorials. One of the benefits that a company can have for exemple is, they can lock up a certian amount of tokens for a certain amount of time. By doing this, they get a discount on using the platform. Think about Hanwha Dreamplus and their students; Hanwha can lock certian amount of tokens and they get a discount on using the platform (can be in the form of vouchers), these vouchers they can for exemple give to their students, so they can use the platform for free.
Q — What’s your primary motive to move from erc20 to bep2 blockchain? Is it only scalability or something else?
A — We chose to migrate a part of our tokens to BEP-2 because we believe in Binance as a brand. They’ve been doing a lot of good things for this industry and are one of the bigger keyplayers. We are still an ERC20 token with the majority of our tokens, and will be an ERC20 token until it doesn’t make sense to be it anymore (there’s absolutely no current future plans to change). If the Binance DEX grows, we can grow with it :)
Q — What is the essential requirement to create dapp on MORPHEUS LABS BPaaS? Which types of advances services you provide for developers for building wonderful dapp? Which languages are supported in MORPHEUS LABS BPaaS?
A — The most essential part is out token, MITx. In order to use the platform, the user will need to have MITx tokens to operate the platform. We are providing 15+ blockchains on our platform where developers can take different features from all the provided blockchains to create Dapps in order to implement into their organisation, or sell it on our marketplace.
Q — How many programming languages does Morpheus Labs systematically suggest for businesses? With the advent of many new programming languages today, will Morpheus Labs really give the best solution for businesses?
A — Right now, 7 (Solidity, Python, Go, NodeJs, Java, PHP, .NET. ). Not every language works on every blockchain; so it mostly depends on the wants and needs of a company. If more languages become relevant, we’ll add more languages. I’ll be fair; I don’t know if we’ll give the ‘best’ solution always; because there are so many ways that might look good at some point, but become subpar when a new competing blockchain comes out with improvements to their mainnet. Maybe they were on Vechain first and it looked amazing, but it turns out they should’ve been on NEO alltogether. It’s a good and dynamic part of the process, and with complete interopability coming; we hope to prevent a lot of future problems on this.
Q — Do you think most startups choose technology, so Morpheus Labs is targeting these young startups? Because with Morpheus Labs will help start-ups today a lot of things.
A — The good thing about our platform is that it can be used by anyone actually. From an individual developer, to SME’s, to conglomorates like Hanwha Dreamplus.
Q — V-ID has recently signed a partnership with you. So, what does V-ID support for you? And what has this collaboration accomplished?
A — I’ve stated this in previous AMA’s and interviews, I’m a huge fan of V-ID. I think they’re targetting a very relevant part of the future of blockchain, because their idea makes certificates so much better. For us; we have a few projects we’re looking into with them; such as global certificates for countries that normally get less chances (think of African Blockchain certificates that aren’t validated globally so they can’t get a job). We provide educational materials, V-ID can provide the certificates that transcend country borders.
Besides that; Marnix (CEO) is an amazing and open guy (the entire team is lovely) and he’s open for discussion on pretty much everything regarding collaborations.
Q — Currently there are so many blockchain projects out there, what would be the reason for mass adoption of your project in the future?
A — Correct, there are many blockchain protocols on the market. However, these blockchains have big issues in order to get adopted as it takes a lot of time,budget and resources in order to implement that certian blockchain, and by doing so, and it might not even solve 100% of the problem a company is facing with. We are solving this hurdle of adoption by our platform that does the heavy lifting for you at a cheaper cost and way faster. + the user can choose which blockchain, and can combine them in order fully solve the problems they are facing.
Q — whenever you started this project then what points do in mind. tell about that
2) How many members are there in your team? What qualifications are required for future new members who want to be part of your team?
A — I joined later; but the company was founded in 2017 and did their ICO in 2018. It currently consists of around 20 employees world wide (from CEO to developer to ambassador). For qualifications; Robbie and me are perfect examples of this. If we would’ve asked any company outside of blockchain to work as ambassadors without any ‘certificates’ or ‘credentials’, it would’ve been a hard pass; but thats the beauty of crypto. It’s new, it’s dynamic; it’s not about ‘qualifications’ but it’s about what you can get done, the people you know and the ability to grasp what a project is all about and to sell that to the world. If you feel you can add something to the project that nobody has so far, or that lacks; you can always shoot us a PM.
Q — Now that blockchain addresses so many areas of life, why are you targeting business? Does it have any potential?
A — Well; without useage and demand; why would we do this? We want to help and aid companies into making processes faster or more efficient. We target them because there would be no developer if no business required a solution. There would be no education if there are no developers.. and most importantly, there would be no blockchain if it didn’t have the potential to change a lot of things for the better.
Q — Why is Morpheus Labs interested in blockchain education?
A — Education is a very important topic in general. As you might have noticed, blockchain developers are being highly searched for in the market, yet there are not many of them. This is also where we can come in and educate ‘the people of tomorrow’.
Q — What do you like most about working for Morpheus Labs?
A — I love the open nature of the team; the ‘no bullshit’ approach and the way they’re more enterprise than cryptocurrency minded. While that sounds weird, as a cryptocurrency company; for me it’s the biggest pro, because they’re constantly working for real-world partnerships and revenue, which in the end, is what its all about. Mid/end October should be a good showcase of this.
Q — Which types of partnerships you recently are done with geeq? geeq project is trying to solve scalability, and your project is different from them, so what are the significant benefits of that partnership?
A — As we will be integrating Geeq and all it’s features, it gives the opportunity for our users to use their features aswell into their Dapps or solutions they want to create in order to solve their problems.
Q — Does Morpheus Labs have competitors? What is the relationship between ChainLink and Morpheus Labs?
A — Chainlink will offer the decentralised oracles on top of the Morpheus BPaaS. In example; decentralised oracles are amazing for getting ‘real world data’ onto the blockchain, which will be very important for any company. So once chainlink is on; people can create a DAPP on Ethereum via our BPaaS (or any blockchain that Chainlink will be working with) and put the oracles on top. Makes the hurdles for adoption significantly smaller, which is what we’re all about.
Q -How does Dapp of MITX ecosystem manage the purity of the data if data provider is fake or data provider is manipulated?
A -For exemple, the recent partnership with Geeq; as their features are implemented into our platform, the user can use Geeg’s protocol in order to be sure that the purity of data is correct, and not fake.
Q — Can you highlight more on team plan of Expansion in Europe and North America
When do you think your project will get global adoption. . Is it difficult to make such an adaptation
A — We are actively expanding into Europe, Africa and North America via people who are well connected there; what works in China (on a uni) can work in Europe and NA too, with some cultural changes in curriculums (or a change in ‘how they work’). So we’re perfecting these curriculums while already talking to the next set of uni’s and asking for their wants and needs if they would use us. Some can be copied 1–1, some need some changing. Blockchain is global and will remain to be global; the coding languages are the only languages there; so from east to west everyone uses the same ones.
Q — There are many projects which invite to apply for “ambassador”, so why do you choose to become ambassador for MITX? What is your thinking and your proud of ?I see that your aim to capture a portion of the Serviceable Obtainable Market (SOM) in future as much as possible, so what factors or way you will use to grab your target?
A — I choose to become an ambassador as my background is in Business and IT. I know the pains and the costs current companies are facing. By giving companies the choice of blockchains, and letting them combine different features from different blockchains, and this with reducing cost and time. To me. Giving companies a lot of choices, makes it much easier for them in order to solve their problems. And in the meantime, the platform does the heavy lifting for them. I think that’s genius :)
Q — What businesses is Morpheus Labs currently supporting? Is it possible for Morpheus Labs to support start-ups or small and medium enterprises?
A — From small to big; anything goes. I guess right now the POC’s (proof of concepts) are with the bigger players; since we’re not that well-known yet that a lot of smaller ones look into us, but there are some examples of smaller ones reaching out. If a DAPP is created by a accountancy-firm, they could sell it on the marketplace so other accountancy firms can buy it and use it, even if they are bigger or smaller (might need to change a part of it, but there are bound to be similar companies).
Q — How much Morpheus Labs is scalable ? Whats the technology used by Morpheus labs for scalability ?
A — Morpheus Labs’s platform is build on Ethereum Network. However, by choosing the blockchain features you want to use, limits you or makes scalibility limitless. Like if you would use Geeq’s protocol, you’re scalability is limitless.
Q — Why don’t you create your own blockchain for your tokenomic purposes instead of using BEP-2 & ERC-20 ?
A — There’s no real reason for us to move away from ERC20. It’s merely a utility token; and the BPaaS doesn’t need it’s own blockchain :). The reason we have a token is for several purposes; platform discounts, platform subscriptions, applibrary, community nodes and a product council. ERC20 suffices on this.
Q — Recently I see you have a partnership with Waves, this is quite valuable to you, so what are the benefits of waves and you?
A — In this partnership, Morpheus Labs and Waves Platform are exploring ways to enhance the technology to create a fuss-free and better user experience; adding value to enterprises around the world while gearing up for mass adoption. Integrating Waves’ focus on dApp development with their wallet/payment features onto the Morpheus Labs platform not only creates value for our AppLibrary, but will also provide us with the opportunity to expand our presence within the European market.
Q — In the future, what are your goals? What do you do to develop the platform and marketing for the project?
A — You may have seen or not, but we are involved in setting up a blockchain village in Malaysia called Medini City. Which will open its doors soon. This on itself is a major stepstone for us, and the industry in general