BSC.NEWS recently hosted an AMA with Innovative Bioresearch Ltd CEO Dr. Jonathan Fior! Please find below the full transcript.
KDOT (AMA Host): Welcome, Jonathan! Thanks for allocating some time to do an AMA for the community.
JONATHAN: Thank you so much for this amazing opportunity.
KDOT (AMA Host): Okay! Let's pop it off with questions a lot of people have been wanting to know.
Q1: Give us an in-depth summary of what your project is about?
JONATHAN: First off, thank you so much for this opportunity to showcase our project. Innovative Bioresearch Ltd. is a biotech company founded by Italian research scientist Dr. Jonathan Fior with the goal of bringing innovation to the field of HIV, cancer and regeneration research. Notably, we are developing “SupT1 cell infusion therapy”, a cell-based HIV treatment estimated to be a lot cheaper than conventional antiretroviral therapy (ART) and than any gene therapy offered by other competitors. The treatment is based on the groundbreaking HIV cure research performed by Dr. Jonathan Fior (Fior J. SupT1 Cell Infusion as a Possible Cell-Based Therapy for HIV: Results from a Pilot Study in Hu-PBMC BRGS Mice. Vaccines. 2016;4:13 https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4931630/). There were 36.7million people infected by HIV globally in 2016; 17.5million of which were left untreated, according to UNAIDS. Our mission is to develop a low cost cell-based therapy solution for HIV to allow access to the treatment for those individuals who are normally left untreated due to social and/or economic limitations. We believe that this is exactly what the blockchain should be about, having the collectivity solving a global issue with decentralization means as a cryptocurrency. We aim to build a DeFi ecosystem on top of actual biomedical research, with real world application in vaccine development. We call it “DeFi science”. So this is what INNBC is about and our mission, vision, and long term goal.
KDOT (AMA Host): Right, so...
Q2: What does your team consist of?
JONATHAN: First off, we would like to stress the fact that we are not anonymous. We believe that this is important. We just love this kind of transparency. The core team is composed of 4 members and we are based in Italy. The CEO, Dr. Jonathan Fior (Research Scientist and Blockchain Developer), our Marketing Director, Enrico Durante (which is also a blockchain developer), our Social Media Manager, Davide Bosetti (with a strong background in the entertainment musical industry), and our Legal Expert, Alessandro Gatti. We also have additional staff we hire for performing specific tasks.
KDOT (AMA Host): Okay, thats good to know! Yes, I have my own views on anon projects. Perfect!
Q3: So, with everything you're trying to achieve, why a token? What are the tokenomics?
JONATHAN: At its core, INNBC is meant to be used as a means of payment to access our medical products. As such, by owning INNBC you own access to such products, with a token backed by actual pharmaceuticals. INNBC is also going to be the governance token for our DeFi ecosystem. This means it will be used for voting purposes, but also to access stuff like NFTs, gaming, and all the other DeFi products in development. With InnonativeBioresearchSwap, our upcomig DEX, we also aim INNBC to be a widely used pair for many projects on Binance Smart Chain.
Side Q: Okay, so if you're trying to develop vaccinations, why are you looking to take the route of NFTs and Swaps, e.t.c.?
JONATHAN: That is a good question, thank you! It's because we believe that it is important to appeal to traditional users building a strong userbase that will then also contribute to scientific development. Here, by using our DEX and farm you would not just be farming a token, but actively contributing to “farming” actual drugs and therapies for diseases such as HIV, Cancer and COVID. Just by simply using our dApps, you would be actively contributing to supporting our vaccine research. Isn’t this amazing? This is something unprecedented in DeFi and crypto. We call this “DeFi science”.
Side Q: Do you mean by people using the product they contribute to your research by fees, e.t.c.?
JONATHAN: All the liquidity that is generated by the users will also support the research. As the token direcly funds the research activity, all the profits we can have by the market making activity are devoted to supporting the vaccine research.
KDOT (AMA Host): Okay! That leads on to...
Q4: Why did you airdrop 1000 tokens to all wallets?
JONATHAN: Simply because we wanted to provide a free start into our ecosystem. We believe that is a nice way to be introduced to our project. So they can start to use the token in the upcoming DEX, farm, and all the other products we are developing.
KDOT (AMA Host): Okay, makes sense!
Q5: Liquidity is shallow on PCS, any reason?
JONATHAN: Nothing worthwhile ever comes easy. First, we focused on developing an actual product (years of hard work to develop and publish our research) and only then (which is very soon) we planned to issue our dApps (starting with InnovativeBioresearchSwap), which should impact the liquidity. Key difference here is building on top of actual pharmaceuticals.
KDOT (AMA Host): Perfect!
Q6: Why have you chosen to use the Blockchain for your project?
JONATHAN: There are some specific features of Blockchain technology that are very useful for scientific research.
- Immutability: Scientific data need to be immutable. Once a study is peer reviewed and published, its data must be permanently stored and never altered. In the blockchain, all data is stored in every single node, never ceasing to exist, and always staying on the blockchain. It is immutability that gives the blockchain its openness and BFT (Byzantine Fault Tolerance).
- Decentralization: The blockchain is designed to be distributed and synchronized across networks, making data freely available to anyone. We believe that scientific data should be shared and not being hidden behind a firewall.
- Security: The kind of transactions that can be performed are strictly defined in advance and stored in the blockchain as “smart contracts”; this prevents fraudulent data from being added to the blockchain thus ensuring integrity of the database. By contrast, it would be much easier to compromise a centralized database.
KDOT (AMA Host): Okay! That makes total sense.
Q7: Why have you chosen BSC over other chains?
JONATHAN: We started development of our project on the Ethereum blockchain and felt the pain of the increasing gas fees. When Binance Smart Chain was launched, we immediately jumped on board because the low fees combined with the complete compatibility with the previous code made us realize the amazing potential of this new chain. But it isn't just about the gas fees, it’s a general better vision overall that we feel is there on Binance Smart Chain. We consider it the real ETH 2.0. There is a lot of positive energy with a lot of people building and making new dApps on the chain, and we want to be the first to bring DeFi science on BSC.
KDOT (AMA Host): Yeah! I totally agree with you here. I moved over from ETH to BSC and I love the community, its a real family feel!
JONATHAN: We also are big fans of all Binance products and really love CZ’s vision and focus on building.
KDOT (AMA Host): Amazing! So, my next question has to be my favourite out of the community questions...
Q8: Are you considering cooperation with major companies in the medical field? And do you think the decentralization of research funding will be of interest to large companies and are they ready for such innovations, because the digital economy is still ahead?
JONATHAN: Yes we are in touch with many academic research institutions that would immediately join us with the model of decentralization for the funding of biomedical research, as it solves one of the major issues of the research, the general lack of public funding. We also believe there will be great interest in using our application by other research organizations. After all, this would be the first decentralized applications designed by a research scientist for research scientists. Our dApps will be open to any company or institution interested in using them for their scientific data. Moreover, we will encourage them to do so as we believe that scientific data should be shared publicly.
Side Q: When do you think you'll have dApps e.t.c., for other companies to use, ready by?
JONATHAN: We believe 2021 will be the year our dApps for science will be released, starting with InnovativeBioresearchSwap that will be central to the "DeFi science" ecosystem. Most of the work has been done in this regard.
KDOT (AMA Host): Okay, perfect!
Q9: What are your marketing strategies How do you intend to make this project known?
JONATHAN: As already mentioned, with the launch of InnovativeBioresearchSwap, we will run a series of very interesting marketing activities. One of those activities will be related to listing and promotion of other projects on our DEX, and we will start with a very good one, so we encourage you to stay tuned.
KDOT (AMA Host): Okay, perfect! Before we wrap this up, would you like to add anything?
JONATHAN: We would also like to share some interesting stuff you may not know INNBC and its team. Among other things, INNBC is the main and most established coin released in Italy, and we also have an expanding local userbase. We are working closely with local commercial activities to provide all the assistance they need to use INNBC as a payment system, and our presence on the territory makes a difference in terms of trust. We have local representatives you can talk with face to face, people who will assist you and who also have their own commercial activities and understand what merchants need. Our economy was highly damaged by the COVID-19 lockdown, and many activities closed doors. Together, we are studying with the local merchants to use INNBC to jumpstart our economy and be reborn stronger than before. INNBC is not a token of the people behind a laptop, but the token for the people on the street.
KDOT (AMA Host): Amazing! Thank you for attending and answering the community questions. I wish you all the best with the project!!
JONATHAN: Thank you so much for this amazing opportunity.
Originally posted on https://www.bsc.news/post/innovative-bio-research-ama-transcript