This is a translation of the original Romanian transcript, which can be found here.
In preparation for June’s announcements and following some community requests, another AMA was held on 21.05.2021, where our Product Manager, Crinela Pamfilie, introduced a few members of the development team — Máté Lang, Sorin, and Marius — each providing some very interesting technical details regarding the platform, before Welthee’s founder and visionary, Cristian Voaideș, took centre-stage to field some of the community’s questions.
Crinela: Good evening, my name is Crinela and I am Welthee’s Project Manager — as many of you already know, this being the third live session we’ve organized. The main reason that we have these sessions is that we want to meet the demands and wishes expressed by the community. Therefore, tonight we will continue the discussion we started last time.
We want to assure you that we intend to be transparent and to communicate more with the ones that had the confidence to invest in this project, so we will address a few things mentioned in our last ‘Ask Me Anything’. I will mention three things that we will be addressing.
First of all, there will be a few updates related to media, and secondly, as I mentioned in the last AMA, we will be meeting a part of the technical team, and thirdly, we will be answering a few questions that have been addressed by the community, together with Cristian Voaideș.
In relation to the first aspect mentioned, you’re probably already familiar with a series of articles that our marketing team has shared with the community this week. I’d like to highlight one of them in particular. I know the people at BreadWallet or BRD will mention that the collaboration with Welthee has been received somewhat with skepticism, but, in the meantime, as you have probably seen on our Telegram groups, this is not an enigma anymore after the TechCrunch article.
We promised last time that you would be meeting not just the marketing team, but the technical team as well, and we intend to do this tonight. I would, however, like you to understand that you will not be meeting the full team, as we want to respect everyone’s right to not be a public presence in the live sessions we organize. That being said, we will probably be interacting with people from the technical leadership, together with the community, and to that end, I’d like to invite Máté Lang, our backend lead.
Crinela: Good evening! Máté, I’d like us to have a discussion that’s as honest and as transparent as possible. Firstly, I’d like you to tell us a bit about your experience as a developer, as a lead.
Máté: Of course. My name is Máté, as Crinela already mentioned; I’ve been officially working in the IT industry for about 12 years, but, I think when I was about 14, I made the first pizza ordering website in my hometown, Satu Mare, which was the first of its kind in the city and I think the last one, for some years still.
Of course, after that, I decided I would get a little more serious about computer science. During university, I was already working full time on different projects, the first being related to IoT before it was called that — basically, processing signals from certain industry sensors — after which I switched to the FinTech industry, where I was an architect on a project with a very big world payment processor, I think it was the second-largest in the world, at the time. Billions of payments were made there as well. Clients ranged from airlines to banks; we even had a lot of clients from the fashion industry.
After that, I was lucky to become Chief Technical Officer at a startup called SmartUp. A lot of times, by the way, even to this day, I confuse the words because they sound so similar. SmartUp was a micro-learning platform for companies. It’s been used by a lot of banks to instruct their personnel on different topics; it was also used in the telecom industry — for example, we had a very big Malaysian telecommunications company that instructed all their employees with our platform, and other clients as well.
I worked on that startup for about 4 years, after which I accepted a new challenge at a company that was dealing with video advertising. The traffic there was very high — imagine tens of millions of events in a few seconds that had to be processed, managed, and then certain reports had to be made; everything had to happen in a few milliseconds.
Crinela: Which is a piece of cake, right?
Máté: Yes, it sounds like a piece of cake, indeed. We had a very, very large infrastructure there, also in the cloud and, at that company, I was the leader of the team managing that infrastructure.
Crinela: Ok. I appreciate that you’ve given us a few details, or rather a full view, on your experience prior to Welthee, so to speak, and I am very glad we ended up collaborating together and that I ended up collaborating with someone who has such a vast experience in the area of leadership. I know it’s not easy. What I’d like to share tonight with the community is one of the aspects that the people who have invested in Welthee have already heard before.
You all have probably heard the story about the bonding curve and the project’s intention to attract a million users to the platform. Even at our last AMA, we said that the bonding curve will not limit the number of users to a million. Which, for us, posed a technical challenge even from the start of the project.
What I’d like to discuss, in a few words, and, maybe in a way that’s easy to understand for everyone listening, is what it means for us as a team to think up an infrastructure that can scale to this number of users — a million users, or even more. Could you give us some details?
Máté: Absolutely. In the world of startups, usually, and this isn’t necessarily related to the blockchain world, I think there are two types of projects: one that becomes successful and then lives — the first success is usually called “the deathly hug of tech crunch”. The moment a company begins to bring real value, that is when the users come and practically kill the platform, since the platform is, sadly, not ready to manage this increased load, in such a short amount of time.
We tried and we keep trying to avoid being this company and taking into account the plans that have been presented to the backend team since the beginning of my collaboration with Crinela, we are trying to design each component so that they are tested rigorously — everything that relates to security and performance. We really want to know and prove that we can manage this number of clients and this number of blockchain transactions.
Maybe a much simpler approach would lead to faster results, but for us, quality is the most important and we want to ensure that the platform we are delivering is, from all points of view, a quality product — meaning perfected performance, viability, and security.
Crinela: Great. I really like what you’ve pointed out and, indeed, for us, this has been one of our goals: to not compromise quality, precisely because all of us are also investors in this project.
Máté: That’s right.
Crinela: But what I’d like, because I hope that there are people in the audience that have a bit of a technical background, is to offer a few details on the solutions we’ve chosen.
Máté: Absolutely. Basically, our solutions will be deployed on the Amazon Cloud, also called AWS (Amazon Web Services). We will be using cutting-edge and very thoroughly tested technologies by everyone in this industry. For example, in terms of managing backend workloads, I’m referring to the Kubernetes technology, which is used by telecommunications companies and banks, and as such, has the potential to be used accordingly for our needs.
We will implement the backend through a microservice approach; some of them we’d even like to publish, in order to be good citizens of the crypto community and give back, and perhaps very soon, you’ll see a component that we needed and would have benefited from having it already made by someone.
Unfortunately, we found none that could convince us, or that would be convenient for us, so we had to write one ourselves, from scratch, and everyone from the company agreed. We believe that it really embodies our mission to give this back to the community. So, you’ll probably see that.
Crinela: Yes, this is one of the announcements that we’ll be making with a few more details in the future. Indeed, our goal is to bring more value to the blockchain communities, as this is a problem that everyone faces when they’re trying to send, let’s say it plainly, a ton of transactions, right?
Máté: That’s right.
Crinela: Alright. Something else that I think should be mentioned, and I know I paid attention when I selected these, is that I’d like you to explain a bit of the security aspects that we took into account.
Máté: Of course. The infrastructure we are building on, currently, is one built with the technology and approach called “infrastructure as code”, and what that means is we are basically treating the infrastructure configuration as if it were an app code, so it benefits from the same processes that written code benefits from.
So we can review, audit, and control who has rights to have and to approve certain changes in firewall rules, network configurations, machine configurations, or approve a new version to be installed on our cloud. This is a pretty modern process and one that is used frequently, especially in companies where this traceability, this audit record, is very important; meaning most companies that do anything with money and that have to prove it use this strategy.
On the other hand, in Amazon, we thought this through from the beginning and collaborated with partners that are experts on security and AWS consultants; we designed a multi-account architecture. This means that in our data centers, practically and physically, certain media — for example, the beta testing media, or the development media — will be separate from the production media; meaning that not even we, the developers, will have access to it outside of the normal maintenance process. So, I can say that we are up to date with absolutely all standards that you’d expect from a bank.
Crinela: Ok. I hope we offered a complete enough view of what the server-side means for Welthee. Now, something I don’t think we’ve talked about at all, but that captured our attention and we worked hard for, is the back office out of which we’ll be sending every investor’s tokens to their wallets, that we’ll get to in a bit. Could you tell us a little bit — a bird’s-eye view, as it were — about what it meant to develop this and come up with the whole system?
Máté: Of course. This back office, as the name implies, is a product that we make for our colleagues that will deal with managing portfolios later, but that will first distribute the tokens you’ve all bought — and please keep buying them. On the other hand, as this is not exposed to the public, we have to be very careful and have security on point. Here, we’re collaborating with the number one company in the world on everything related to identity management — we recently signed a contract with them. So, basically, we can make sure that, like a bank employee logging in to an intra-bank system from the intranet, we have the same security rules that we monitor and control.
Functionally speaking, so I don’t just talk about the non-functional aspects, blockchain transactions can be sent in various ways, but we want to be able to send them in an audited way — we made the design, a certain workflow through which our colleagues can make sure that the tokens reach their destination through these vesting contracts, meaning the beneficiaries will be proven as the real ones that signed the contract.
We also put a lot of effort into the transaction processing engine that would also allow for good traceability — being able to know at what time, what type of transaction happened, and if there were errors we try again because nothing is certain, not even the blockchain.
For example, it can refuse certain transactions one moment and then we have to try them again. A simple approach and developing a simple approach probably takes around an hour or two, but making a proper and bulletproof one, in order to not wake up with transactions from everywhere, needs to be tested and developed carefully.
Crinela: Ok, great. Thank you very much for everything that you mentioned. I’ll ask you to stay with me as we will be coming back to some of these concepts.
In this case, I’d like to offer details about the vesting functionality. Since we have so far addressed the, let’s say, less visible part of what Welthee means as a project, now I’d like to talk with the people responsible for the toys that all of us in the Telegram community have used, and here I am referring to the two mobile apps: the iOS and the Android version. I’d now like to have a discussion with Sorin.
Crinela: Good evening! I’m glad you managed to spare a few minutes. Sorin, I’d like you to talk a bit about yourself as a programmer. I want to mention that I had the pleasure to start my programming career alongside Sorin, back when I was a junior, and I am glad that we are collaborating again today. Please tell us a bit about your background.
Sorin: I started in around 2008 — I’m from Brașov, I moved to Cluj — I started in 2008, I’ve done backend until 2010, after that I switched to mobile, so I’ve been doing mobile for almost 11 years.
I worked on different outsourcing projects, from transportation, telecommunications, online document editing, a lot of similar things for different clients, and I’ve been working for a product company in the past 5 years, so this experience helped me a bit with Welthee. In 5 years you start being able to tell what does and what doesn’t work in a long-term project and that’s about it.
Crinela: I know your Welthee experience hasn’t been a, let’s say, smooth one, since you’ve addressed most of the challenges that we had when we integrated the wallet kit offered by BRD, and I know we also owe you the functionalities that are available today and we appreciate that.
I’d like you to tell me a bit about the challenges you’ve had or the things you’d like to highlight from collaborating with Welthee.
Sorin: What I can say is that I missed this type of startup experience because I haven’t worked in a startup for a while, so it has been like a breath of fresh air, compared to working in a corporation.
In every startup, you find things you’ve never done before. The wallet kit integration part is interesting but difficult at the same time since it’s a different programming language than what I’ve worked with over the past few years. Other than that, I think the wallet kit is the heart of what we’re doing right now, as we couldn’t do much of anything without it, so it’s interesting.
Crinela: We don’t really have a choice at the moment, right?
Sorin: At the moment. We’re hoping that will change.
Crinela: Ok, thank you very much, Sorin. The next member of our technical team — we are still staying in the mobile client area — I hope I’ll be able to interact with Marius as well. Hello, Marius!
Marius: Hello, Crinela!
Crinela: We’ve had the pleasure to collaborate, I believe, recently. But I was very happy to see you accept the challenge of working with Welthee and I’d like you to also tell us a bit about your experience as an Android developer.
Marius: I’ve been working in IT for more than 10 years. My experience as a developer started in university, of course. The first interesting project I did, or rather, led, was a tile-installing robot — of course, it was a prototype — that participated in a lot of contests and won a lot of prizes. I still have photos of it, and I’ve looked at them just last week.
Crinela: Was it the type of project that leads you to believe programming is easy?
Marius: It was the most interesting project I’ve done to this day, honestly, except for Welthee. After that, I’ve worked on different outsourcing companies, I developed various projects in various domains — commerce, hotel searching, search engines — and lately, I’ve been developing projects in the financial area, mostly bank apps and wallets. I don’t know what else to say.
Crinela: I think that’s a fair summary. Not a CV as detailed as others we’ve heard today, but we appreciate it. I’d like you to tell us a bit about Welthee: what you like about the project, challenges you’ve had. Highlight what you consider appropriate.
Marius: Ok. The project seems very interesting and cool, and I really like the team. I like that we’re basically developing future technology and an app that is basically the future of the financial field. And I’m investing a lot of time and effort into this.
Crinela: Yes, I know, and I would not overlook that as I am aware of the challenges that each of you had to deal with and sometimes, I think I’ve also shared a part of the stress with you all. I know the wallet kit hasn’t been easy for you either and neither has the interaction with the way the blockchain works, right?
Marius: First of all, it’s all new to me. I learn something new every day related to this and it’s a challenge.
Crinela: Indeed. It is a challenge for all of us, but you’ll see that challenges don’t scare us. Thank you very much, Marius, for all the details you’ve shared, and we are happy to be collaborating with you.
Marius: Thank you!
Crinela: Alright, now we will be discussing challenges. And one of the things we want to share with you as a technical team is the challenges that we’ve encountered when we estimated, thought up and started implementing the vesting functionality as we call it internally, or basically the functionality that makes it possible to see tokens in each of our wallets on our phones.
As you already know since it is public information, we created 10 billion tokens on Ethereum. Our goal was for these tokens to be distributed to investors that have invested in the private sale phase.
We basically started with a functionality pack meant to reach the mobile area, Android and iOS, but also the server and back-office area, so we could deliver this functionality to the community in a timely manner. As things often go, challenges also appear.
To give a little context, I think it would be fair to explain a bit about vesting, about what a smart contract is, and why we thought of using them. I know you like explaining and I wouldn’t want to rob you of that joy.
Máté: Thank you very much, Crinela. We could perhaps start with what a smart contract is, though if you are passionate about crypto, you’ve already done your homework on this, so we’ll do a sort of recap for you, and I hope I’ll be as clear as possible.
Basically, any type of program needs a computer to run it and traditional apps work on traditional servers such as our back-office one — it’s a computer that runs that program. Ethereum’s innovation was that they basically thought up a world and network computer that executes programmed operations and follows the code that has been written.
What that means for us, and what vesting means in this context, is that, basically, we wanted to offer our investors a guarantee that the tokens they have bought will be delivered to the beneficiaries in a way that can’t be stopped by anyone, not even us.
So, to be clear, even if we were to disappear from the face of the Earth, even if I were to get kidnapped by some people on the street, even then clients will be able to extract tokens from these vesting contracts. So, basically, what we will be doing is: a percentage of the sums invested will be received automatically, and through a transaction, sent directly to your accounts.
Crinela: Meaning they will be available in your wallet immediately.
Máté: Almost immediately, since transactions don’t really work like — *snaps fingers* — that on Ethereum, but almost immediately, in a few minutes, let’s say, from when we want to send them. And the rest will be available based on a vesting scheme that our colleagues will decide, which means that basically they will be received in a fixed period, in a set number of equal payments.
Crinela: This is no secret, actually. The vesting scheme isn’t something impossible to understand. Each one of you that has signed a contract with us is already aware of a number of payments in which you’ll be receiving those tokens. Basically, the vesting scheme maps one-on-one to what you’ve signed.
Máté: Exactly. So, basically, what we will be doing from a technical point of view is a smart contract, so an algorithm that is run by this distributed computer — called Ethereum Virtual Machine, in Ethereum’s case — or similar concepts in other blockchains.
Basically, what we will have to do is — let’s say if we need to do it in a year — we will put on this blockchain 12 pieces of such contracts with an established, irrevocable and unmodifiable beneficiary and we will set a release date when these tokens can be withdrawn from the contract.
So, you should think of it as a guaranteed piggy bank by the network out of which nobody else can withdraw the tokens, only the beneficiary, and only after the set time expires.
Crinela: Ok, thank you for all the details you’ve presented.
Crinela: I hope they provide enough insight on what vesting means from a technical point of view. Now, the challenge that appeared a few months ago. It should be mentioned that transactions happening on blockchains involve some costs, right?
Máté: That’s right.
Crinela: Just like we’re used to when it comes to the banking system. Our hope was to deal with these costs, right? But, the surprise and the challenge that I hope is not unknown to the ones familiar with the crypto world, has been the volatile costs on the Ethereum blockchain.
To provide an example, around a month and a half ago, we did a deployment test and if I’m not wrong, the deployment cost of a smart contract was around 170 dollars.
Máté: Something like that. My memory isn’t very good either, that’s why I have my computer with me.
Crinela: But I believe your memory isn’t lacking when it comes to the maximum we managed to get.
Máté: That’s right, it’s pretty hard to forget. Unfortunately, I still have nightmares about it. One day we looked at Ethereum’s gas station and it went up to almost 600 dollars; more than three times what it used to be.
Crinela: Taking into account the fact that we want to deploy more than 12 such contracts, I’ll let you do the math of these costs, but obviously we are all aware that such costs on a minimum 50 dollars investment that you’re all so familiar with, seems like a bad joke.
Therefore, with this context in mind, we have been forced to look into a solution to our advantage, to the investors’ advantage, so at the moment we are investigating more blockchains that might offer less obscene prices than Ethereum has done lately.
We’ve been working really hard on this in the past few weeks, but we also want to offer transparency on the solutions and the decisions we will be taking on a project level, so when we find and settle on a final decision we will return to this aspect. I hope we did not offer too many technical details and that we didn’t confuse anyone, we just wished to be transparent, and I hope the feedback will reflect that. Thank you, Máté, for all the clarifications.
Máté: There’s something else that needs mentioning before I go, and this is the last thing I want to say: there has been a very important aspect in choosing the solution that we will be using to implement this vesting scheme.
You’ve probably heard a lot of horror stories about how people lost money in different solutions that have been implemented by people who weren’t experts in writing smart contracts for blockchains. That is why we made the decision to use only formally audited contracts. That means that it is mathematically proven that the contract always goes through and there is no chance of it going wrong in any way. Since we are not experts in making smart contracts, this will allow us to manage them without any issues. We’ve decided to use these contracts that have been audited by top companies, and even the number one in the world; these contracts are used in all serious solutions, in my opinion.
Crinela: Very well said.
Máté: Sorry about that, I thought it should be said.
Crinela: I believe it is a welcome mention at this time. Now I’d like to go to the final part of the AMA and I thank you for your participation.
Máté: Thank you and thank you again for the attention.
Crinela: Ok, now for the last part, the one that addresses the questions asked by the community, I’ll invite Cristian Voaideș to join me.
Cristian: Good evening!
Crinela: I hope there weren’t too many technical details.
Cristian: I also hope we haven’t bored you, but I believe these clarifications are welcome.
Crinela: I’m glad to hear that. Now, as we are already used to it, last time you had a list of questions, and tonight we allowed ourselves to use up more time for the technical team and details, knowing there haven’t been as many questions. I hope the number hasn’t gone up in the meantime.
Cristian: Yes, it’s true. We’ve only received 7 questions and the answers are pretty simple. I will go through them. There was another question on Zoom that I saw, and someone was just asking about hacking, about how we’ll ensure we won’t be hacked and Máté just explained a few of these things and it was good.
Additionally, I’d like to mention that we have a CloudFlare service protecting the website, and it’s really hard to actually reach it. Of course, nothing is 100% safe. I participated in a lot of training courses in this area and most experts say the question isn’t if you’ll be hacked, but when you’ll be hacked.
Of course, this isn’t nice to hear or to think about, but we’ll make significant efforts in this area to protect the infrastructure and to protect our wallets. What we can be sure about is that the wallet itself can’t be hacked. That we do know. Even if a part of the infrastructure were to be affected somehow, we are 100% certain that the wallet itself can’t be hacked.
We will do tutorials, we’ll help people understand how to protect their private keys, and how to go about their wallet to not be vulnerable to expose their seed or to let someone get to their money.
I’d like to move on to the questions that have been asked.
The first question is from Amibi, who asks us if we know when, precisely, the patent will be approved.
We don’t have a precise date. I hope that by the end of the year we will have an answer from the authorities on this.
Amibi also asks: ‘What number of tokens will there be in circulation on Ethereum, out of the 10 billion?’.
Like Crinela was telling you earlier, we had the unpleasant surprise to see gas fuel costs increase significantly on Ethereum. This is very problematic, and as Máté mentioned before, we’ve been searching for solutions that are 100% compatible with Ethereum and there is a chance we won’t be using Ethereum for now; instead, we might put the tokens on a 100% Ethereum compatible blockchain, to later be able to come back to Ethereum. There probably are some bridges, some software to go to and from Ethereum.
I believe next week we’ll be able to make a decision on what blockchain we will be using for vesting, which is 100% compatible with Ethereum. But, going back to the number of tokens that will be in circulation, I believe it will be under 1% due to the number of tokens being sold, as only 20% of the tokens will be immediately available, so in the beginning, I think it will be under 1%.
Cezar asks: ‘How many tokens are still available for 5 cents, how many in total are there with this price, how many tokens will be sold with 6 cents and 7 cents etc?’.
For each level, there are 20 million tokens — 20 million for 5 cents, 20 million for 6 cents, 20 million for 7 cents. There aren’t many left on the 5 cents level. I expect the 5 cent tokens will be gone by the end of the month if things keep going as they have been going, and that we’ll move up to the 6 cents level.
We will announce this a few days prior, or maybe next week when we’ll be sending a newsletter in which we explain this. We don’t know for sure. We can always encounter surprises — someone could come and buy a large number of tokens and, in that case, it might be earlier than the end of the month.
GT asks: ‘If it’s possible to temporarily delete your account, if the KYC is implemented in the private sale, or after, if tokens can be transferred from an account with KYC to an account without KYC before the 12 months?’.
We are required by the law to do the KYC and temporarily, because transfers are done through the banking system, there is a KYC that the bank also does. I was surprised when I read BRD’s white paper, 2–3 years ago, that stated that they don’t do KYC because all their services have to do with cash — on and off-ramps they call them — those do the KYC. For us, there is a part of the KYC done by the bank, there is also a part done by us.
Now, if you have tokens and you want to send any amount of that 20% to another wallet, we have no control over that. Yes, when someone has tokens that are free, they can send them to someone else, even if the other person doesn’t have KYC; we have no control over that.
Crinela: This is a pretty frequent use case in the crypto world.
Cristian: Yes, it’s a use case. At the moment, we don’t sell to American citizens. On the other hand, we got in touch with a law firm from the United States and we will probably begin the registration process in the USA, but we don’t know how long this process will take, so we must do it at the moment; there are also other countries — North Korea and other countries — where we can’t sell.
Calin asks: ‘Is there a list of the entire Welthee team, organized by departments, that shows everyone’s experience and training?’.
Next week we will post a new version of our web page where the main people from the team will have their LinkedIn profiles visible and you’ll be able to see details about everyone, but there are a lot of people who won’t be there. Some because they do not wish to be, and we respect their decision, but there are also some people that I don’t want to make public, and not even the internal team will know their identities.
These are a few of our experts that we are collaborating with, some of them full time, that are involved in decisions regarding portfolio development and choosing the companies we’ll be investing in. It’s an internal decision and it’s important. We want these people to be protected and there is a lot to discuss in this area, but those people will not be made public. But, part of the team will be public next week.
Laurențiu asks: ‘Is it possible to create a web-based wallet, at the moment?’.
We’ve decided to be mobile-only, at least for this year. That means the wallets will be only on iOS and Android — the wallets related to blockchain. At the moment, we have a back office where there is a so-called wallet. It is not related to the blockchain, you can see some tokens in there, but this backend will disappear…
Crinela: When we deliver the vesting functionality.
Cristian: When the functionality will be available on mobile. We’ve delayed the decision to make our platform available for the web until next year. We don’t know if it will be needed to have a web app or not. We want our community to tell us and we’ll see if there is a real need to have it on the web. Traffic is increasing on mobile, a lot more people use their mobile, and as such we might not need a web app, but we’ll see about it later.
There was another question that we’ve already answered: ‘Are there any plans for the app to be available on other platforms, in the future?’.
We are thinking about connecting our app with trading platforms, but this is a decision that will probably be taken sometime next year. At the moment it’s just on mobile.
Now, one of the best questions — one that I take great joy in answering!
Crinela: Tonight’s favorite question.
Cristian: My favorite question.
Alex asks: ‘What inspired the logo?’.
We have it here — it’s super-original and it has a long story behind it!
As many of you already know, I worked on branding with Andrei, with Vandy, I told him about the platform — our company is called Capitera AG and is registered in Switzerland. He told me that’s too cold, too institutional; we have to do something about it. He came up with the idea of naming the platform Welthee, and after that decision was taken, of course, we had to work on a logo. We worked very, very hard. I think we had dozens and dozens of versions.
Now, a few details about the brand. The core of the brand is friendship, and the archetype of the brand is the hero — the one that intervenes in difficult situations — we put pen to paper and wrote this in our brand manual. We looked at the superhero world, the ones that make the world a better place, that generate energy; the superhero that is disciplined, focused, and determined. A hero is someone that protects the ones in difficulty. As an organization, we want our employees and teams to be efficient, each member of the team to significantly develop and contribute to the team’s performance.
Now, if you look at the logo, you can see a bird, a bird in flight, that takes us to our financial freedom. We also looked a bit at Batman, at Wayne Enterprises, and although I’m personally not very into the superhero world, I thought the story was interesting. My daughter likes heroes a lot; I had interesting conversations with her and Vandy, and in the end, we settled on this version that we like, and that has received very good feedback.
Crinela: We could say that it’s a sort of family crest, a sort of logo, since we’re talking about the Welthee family.
Cristian: Yes, it is. These were, pretty much, the questions that were asked.
Now, I’d like to wrap this up and mention one more thing. I appreciate your involvement, I always appreciate interaction in the community, however, I’d like to say something that worries me in a way. I know we are also addressing investors from the crypto world, and they usually expect things to happen instantly, almost. They expect to see results in a few days, in a few weeks. They keep looking at projects that reach 100%, 200%, 1–2–3–5X in a few weeks — then they take their money out; and I understand. I also follow these things, I find them interesting, and I’ve invested in some of them myself — so, I understand the adrenaline.
On the other hand, what we’re doing is very different. We are developing a decentralized investment fund, with long-term goals. On average, we want people to think “I’m setting the money aside for a year”. We want most of our portfolios to be for a year. As you know, we want to get between 20% and 300% based on the risk that someone takes on in a year. If we somehow conveyed that we give back 2–3X in a very short time and someone would like to step back from the project, that’s alright with me. Please let us know, write to us, we don’t want to disappoint anybody and if we somehow conveyed that in 2–3 months you get your money back doubled or tripled, then I’m sorry, but that was not our intention, so please contact us and we’ll fix that problem.
Our goal is to develop a long-term business and we believe we will succeed in delivering a platform with results, a platform that will bring financial freedom. It is our objective, we have an extraordinary team — I am very proud of the team we have, they are extraordinary people and I thank them. They are extraordinary people and I don’t think they will disappoint.
It’s true, there are challenges, it’s true, some of them we haven’t delivered as fast as we would’ve liked but we are 100% dedicated to developing a platform that, as someone else put it, will put Romania on the map. There is a real chance of this happening.
Once again, thank you for listening to us tonight; for investing. We have very, very good things that we’ll be announcing next week: we will talk about the launchpad, about the first project that will already be available in June, which we will reveal on the 1st of June, as promised, and the next blockchain in which we’ll be creating tokens — we’ll have a lot of good news. We’re only getting started!
Crinela: A message like this doesn’t really allow me to make a better ending, so the only thing I can do is thank you for being with us. I hope that, together with my colleagues, we have met the expectations of the community, and I think we’ve done so honorably.
I’m looking forward to the community’s feedback, additional questions related to what was said today. We’ve tried our best, me, Cristian, and my other colleagues, to interact from time to time with members of the community on Telegram but, unfortunately, this isn’t always possible and frequent — we are trying.
But, as you’ve seen, there are other challenges that we want to, and that we believe are, more important to address, therefore, we apologize if we may not always be the most prompt.
Finally, thank you very much for your interest, and have a pleasant evening!
Cristian: Have a nice evening!
Welthee is a disruptive, zero commission, and up to 0% risk wealth creation platform, that empowers users with access to multiple streams of income, providing an environment where entry-level and experienced investors join forces for the greater good.
Welthee is the Future of Financial Freedom.
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