DamoTalks episode16|Recap: How Cere Network is Accelerating Enterprises’ Embrace of Blockchain
Original Damo Talks Token Damo January 31
DamoTalks Issue 16
Guest: Fred Jin, Co-Founder & CEO, Cere Network
Moderator: Lu Fei, Co-Founder, TokenDamo
Live Streaming Time: January 29th, 19:00 pm
Fred previously co-founded 50cubes, a Tencent-backed gaming platform company that serves millions of concurrent users from first-party to third-party games. He also led the media initiatives for Bebo, an early stage social network acquired by AOL. Previously, Fred has also held key engineering and product roles at Silicon Valley startups in a variety of areas, including enterprise, media, and AI.
Here is the full public interview, enjoy~
First question: Cere Network is a very hot project in Polkadot ecosystem recently, and has been sought after by many organizations, can you briefly introduce Cere Network?
Fred: Cere is part of a consortium of projects such as Polkadot and Cosmos, united by a vision of cross-chain interoperability between blockchain networks to enable an inclusive, trustless, infinitely scalable, global decentralized ecosystem for businesses.
Cere Network is the first decentralized data cloud platform for service data integration and collaborative data optimization. While most blockchains are simply distributed ledgers, Cere Network’s blockchain enables super customization of enterprise data ecosystems. cere aims to be more ethical, efficient and interoperable than any centralized rival.
Cere is the missing link needed for enterprise adoption of blockchain, providing a fully integrated solution packaged similarly to the SaaS platforms already in use by enterprises, which when deployed can deliver immediate efficiency gains and cost savings to core business units.
Second question: CERE is a blockchain CRM ecosystem, so how is it different from traditional CRM? And what are the advantages?
Fred: Traditional CRM is both outdated and expensive, and difficult to integrate with today’s intelligent (AI) and data-driven solutions. New data cloud solutions such as Snowflake bring highly dynamic and customizable data sets to the table by providing greater flexibility and faster integration (e.g., near real-time computing.
The key to the Cere approach is that we bring greater data agility and more data interoperability, and have an open approach compared to proprietary Snowflake. In addition, we are more focused on consumer companies, which have more highly customizable solutions in specific industries.
Third question: As we understand it, CRM is primarily for enterprise level customers and we don’t seem to see any notably successful enterprise projects in the blockchain space at the moment, so what is the particular appeal of CERE Network to them or how will CERE guide these enterprises into this ecosystem?
Fred: Cere is the missing link that enterprises need to adopt blockchain and provide a fully integrated solution that is packaged similarly to the SaaS platforms they already use, resulting in immediate efficiency gains and cost savings for core business units.
Three Cere executives have built venture capital businesses in Silicon Valley in the enterprise, media, social media, gaming and Mar-Tech sectors, and we have long faced two big challenges: to build both a SaaS that can be driven sustainably and an open blockchain network that is built to be useful.
Q4: Can you share some of the companies you are working with? Or can you share some examples of collaboration?
Fred: Cere currently has multiple integrations with several (Fortune 1000) companies in the travel, retail and media industries. We will be highlighting them as real-world success case studies in the near future, some of which we can reveal here today first.
Cere is working with a large travel booking company that urgently needs to deliver more personalized and intelligent travel offers and incentives to drive more orders in the marketplace. cere provides a complete embedded solution that extends the existing app experience with minimal integrations to deliver these new intelligent reward experiences.
Cere is working with a U.S. retail network of more than 300 store locations to power a range of new user experiences through its built-in SDK and services to facilitate different location-based check-ins and rewards that then drive conversions from online to offline. Machine learning and predictive analytics capabilities notify and personalize users based on their location and frequency of use patterns.
Cere, along with large media networks in the US, is strengthening the company’s user engagement. CORE OTT is unique in providing a more personalized and valuable experience for users of partner applications.
Q5: Regarding enterprise CRM systems, we know that there are NYSE-listed companies like Snowflake in the traditional business with very high market caps, so do you think CERE has a chance to catch up to such market caps?
Fred: We are not looking at market cap as a comparative goal, but rather how we can improve Snowflake’s vision to create new opportunities to achieve greater efficiency/speed. In addition, the entire space is growing so fast that we have a lot of room to grow beyond just outpacing their lead and profits.
Similar to Snowflake, we have the tools to extract and virtualize this data with near real-time event sources (transformations and extractions) into custom datasets for machine learning, or for analytics, which can also be provided to partners for integration purposes.
The key differences from Cere are.
1) Asymmetric data encryption allows any computational process such as AI agents or partner integration scripts to be dynamically provided with signatures to access certain customer datasets, meaning that data can be securely shared to decentralized use cases such as the Cere Open Data Marketplace (similar to Snowflake’s data marketplace, but not locked to just 1 vendor).
2) The entire system is designed from the beginning specifically for individual user data encryption, privacy compliance and hyper-personalization in a way that traditional data lakes, data warehouses and CRM’s are not designed to do.
Sixth question: CERE is a project built on Poca ecology only, how do you evaluate the current Poca ecology? Also how do you think CERE can leverage this ecosystem to provide more energy for the project to get off the ground and grow?
Fred : Cere has built its own Layer-1 blockchain network using a custom Substrate component, thus becoming one of the foundation level blockchain networks in the Polkadot ecosystem. This effectively allows the Cere solution to scale locally to all other W3F projects, and further to other decentralized networks in the future.
Like the spirit behind Polkadot, Cere has long held the ideal that the future of blockchain is interconnected and powered by interoperable networks, as opposed to the idea of “one chain for all”. Plasm, Darwinia and Chainlink, to achieve this goal in the consortium.
By the way, we have been working with the Polkadot (w3f) team since 2019, and here are some examples from my corporate group in SF in 2019.
Q7: Governance tokens for a project are very important for the whole project ecosystem, when will Cere Network issue governance tokens? How will Cere be used for community governance after the token is issued?
Fred: The Cere native pass will serve as a utility pass for the entire network, as well as a governance Token for decentralized voting on the state of the network. we plan to complete the token sale in Q1 2021, after which the Token will become both a governance token and a utility token.
Q8: Cere Network has received investments from well-known investment institutions such as Coinan and NGC, how are they supporting the project as Cere grows?
Fred : We have chosen partners who can share our innovative vision for the long term to be investors. They are strategic investors who can add real value: Binance Labs, for example, is Cere’s incubator, and other institutional investors (e.g. Arrington Capital, Distributed Capital, Republic Labs, Monday Capital, QCP, NGC) have also helped us a lot.
Q9: What are the next plans on the CERE side for 2021? Can you share them with the partners?
Fred : In 2021, we will focus on completing our fundraising and initial public offering (private/public/) in Q1 2021, working with other top Polkadot projects and W3F teams, testing/preparing the mainnet and preparing for Parachain operations, further expanding the team with top innovators and developers, and launching by the end of Q1 2021 alphaMainnet to support upcoming enterprise integrations and launch Cere Open Data Marketplace with real data and jobs to recruit 1000+ developers.
- Who is Cere’s strongest competitor? What advantages does Cere have over this competitor?
Fred : We consider Snowflake to be Cere’s main competitor/decentralized competitor.
Similar to Snowflake, we have the tools to extract and virtualize enterprise data into custom datasets for ML, analytics or partner integration via near real-time event feeds (transformation and extraction).
The main differences between Cere and Snowflake are.
1) Cere’s asymmetric data encryption allows signatures to be dynamically provided for any computational process like AI agents or partner integration scripts to access certain customer datasets, meaning data can be securely shared to decentralized use cases like the Cere Open Data Marketplace (similar to Snowflake’s data marketplace, but not limited to 1 vendors).
2) Cere’s entire system was designed from the ground up specifically for individual user data encryption, privacy compliance and hyper-personalization in a way that traditional data lakes, data warehouses and CRMs cannot.
2. When will the fundraising take place? I’ve filled out the form.
Fred: We’ll be contacting all those who subscribed to the private placement form as well as the whitelist form in the next few weeks!
3, What does the community mean to CERE? What are the biggest challenges you have faced in developing the CERE community? Are you happy with what you’ve accomplished so far?
Fred: The community is growing very fast! We already have 10 different communities from around the world, with new ones popping up every week. Our next challenge will be to create a fantastic technical community to initially help us test our test network so that they can be true technical ambassadors for the project moving forward.
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