December 10, 2025 • 25 mins
In this episode of Builders Bench, Peter interviews Navjit, the CEO of Iagon, discussing the innovative decentralized storage and compute solutions offered by Iagon. The conversation covers the unique Cyclone device that simplifies user participation, significant partnerships like the one with Worth Group, and the future plans for retail adoption and the role of the IAG token in the ecosystem.
Takeaways
Chapters
00:00 Introduction to Iagon and Its Ecosystem
02:57 Understanding Iagon's Infrastructure Solutions
05:59 The Cyclone Device: Simplifying Participation
08:58 Partnerships and Innovations with Worth Group
15:00 Retail Adoption and Future Plans for Iagon
20:05 The Role of IAG Token in the Ecosystem
DISCLAIMER: This content is for informational and educational purposes only and is not financial, investment, or legal advice. I am not affiliated with, nor compensated by, the project discussed—no tokens, payments, or incentives received. I do not hold a stake in the project, including private or future allocations. All views are my own, based on public information. Always do your own research and consult a licensed advisor before investing. Crypto investments carry high risk, and past performance is no guarantee of future results. I am not responsible for any decisions you make based on this content.
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Takeaways
- Iagon connects idle resources for cost-effective storage and compute.
- Decentralization enhances data security and control.
- The Cyclone device simplifies participation for non-tech users.
- Partnerships with Fortune 500 companies expand Iagon's reach.
- Iagon's solutions provide redundancy against downtime.
- The Worth Group partnership taps into 3D printing for car parts.
- Retail adoption is a focus for Iagon's future growth.
- The IAG token is essential for running nodes and accessing services.
- Iagon aims to create a user-friendly experience for data storage.
- Future plans include a Dropbox-like solution for retail users.
Chapters
00:00 Introduction to Iagon and Its Ecosystem
02:57 Understanding Iagon's Infrastructure Solutions
05:59 The Cyclone Device: Simplifying Participation
08:58 Partnerships and Innovations with Worth Group
15:00 Retail Adoption and Future Plans for Iagon
20:05 The Role of IAG Token in the Ecosystem
DISCLAIMER: This content is for informational and educational purposes only and is not financial, investment, or legal advice. I am not affiliated with, nor compensated by, the project discussed—no tokens, payments, or incentives received. I do not hold a stake in the project, including private or future allocations. All views are my own, based on public information. Always do your own research and consult a licensed advisor before investing. Crypto investments carry high risk, and past performance is no guarantee of future results. I am not responsible for any decisions you make based on this content.
🔗 https://www.youtube.com/watch?v=Fq8FhvxET2k
Subscribe to the audio podcast:
🔗 https://bit.ly/learncardano-spotify
🔗 https://apple.co/3jEPM8C
🔗 https://learncardano.io/
Follow on Social:
🔗 https://x.com/learncardano
🔗 https://facebook.com/learncardano
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hi everyone, I'm Peter and welcome back to another episode
of Builder's Bench where I talked to various projects in
the Codona ecosystem building some amazing projects, and this one
here is with Igon. I have Nagit talking to me
about everything that they've been up to.
Speaker 2 (00:17):
I absolutely love this project.
Speaker 1 (00:18):
I've got a igone hardware thingy on the shelf there,
and you know, you know you're a super fan when
you're investing in the hardware and participating in the ecosystem itself.
But we're going to talk about that hardware thingy. We're
going to talk about the partnerships that they've formed with
Fortune five hundred companies and a whole lot more. So
hit that thumbs up like subscribe notification belt on your
(00:39):
way in and.
Speaker 2 (00:40):
Let's get to it.
Speaker 1 (00:41):
I have the CEO of I Gone here joining me
on this episode. Najits. You've been on the podcast before
and I am so thankful that you're back on again
to talk about this stuff and what Icon is all about.
Speaker 2 (00:54):
So welcome back to the podcast.
Speaker 3 (00:55):
Thanks for having me. Pete. And you know, aws not
the first time they've went down, but I think it
was a DNS problem this time. It wasn't really the infra,
but it has happened before, and we want to talk
about how we can mitigate that.
Speaker 1 (01:08):
Chah Okay, Now, I know there's a lot of people
out there that still don't know much about IGON and
what you guys have to offer for the infrastructure space.
Could you give us an overview of what IGON is.
Speaker 3 (01:21):
So, Igon's basically like Airbnb for storage and compute. So
what we do is connect the idle resources that people
might have in their laptopspcs, workstations or data centers. You
know how that can provide to the network these idle
capacities and connect them to users that need them and
add a more cost effective, more secure, private way. And
(01:43):
that's in a sense what IGON does with storage and compute.
Speaker 1 (01:47):
That's really cool. And how does this tie into what
happened with a DOOS. I know you said it was
a DNS issue here, but in other circumstances, if infrastructure,
hardware and all that did go down, how could did
I goon help within those type of situations?
Speaker 3 (02:03):
Yeah, I mean it happens a lot, not just with downtime,
but also with data leaks. So you know there's many
instances not that AWS isn't secure, but the implementation might
be unsecure in some instances. Is that you know files
are stored centrally. What that means is a ws and
Google and all these other big companies have you know,
data centers in different locations, and these data centers can
(02:27):
keep full access of well the full file of your
of your data right. And what eye On does in
a different manner is what we do is distribute the
data over multiple let's call them data centers. We also
call them nodes. So anyone that provides their idle capacities
is deemed a node in our situation. So I like
to use this analogy to compare the centralized solutions versus
(02:49):
a decentralized is a data leak. So when you send
your file due to a ws I or or Google, sorry,
you send the full file, it's stored in a data lake.
A data lake represents maybe a server in this case,
in somewhere in some location. And let's think of a
lake with a fence around it. And if a hacker
were to jump over this fence, he or she could
(03:12):
swim in the lake and collect as much information as possible.
And you know that's in a dumb down fashion how
data leaks happen. Now, taking that same analogy, what we
do is we take the idle resources multiple resources around
the world or multiple devices around the world. Now, instead
of the full file being at one server, it's actually
(03:32):
sliced and spread across to different servers or computers or
data centers across the world, and they're encrypted. Now, using
the same analogy, you have multiple mini lakes instead, and
they also have a fence around it, but they're also
completely frozen. The frozen part is the blockchain aspect of it.
So in order to liquify and combine those mini lakes
(03:53):
and get access to the data, the only person that
can do that is the person that uploaded the file.
That's why we call it. That's why our solution is
more sovereign and you have full control of your data.
In the same examples, we can think about downtime in
the same way. If one of those data lakes is down,
there's no way to access your data. Now you have
(04:14):
multiple instances of many kind of nodes. You don't need
all of those mini pieces to be online, and our
actually algorithm only forty three percent of those nodes need
to be online to be able for you to retrieve
your data. So that's why we call it more redundant
as well, and as well as more sovereign, meaning that
(04:36):
you control your own data in a very robust way.
Speaker 1 (04:39):
So full control over your data and more robustness. So
that sounds like an absolutely brilliant solution for anyone that
is wanting to store their data online and make sure
it's as secure as possible. Now I know that there's
other features with It's not just data storage like a cloud,
but also it can provide web hosting as a solution
(05:01):
as well, so users can upload static websites to the
system and environment.
Speaker 2 (05:07):
Is that correct?
Speaker 3 (05:08):
Correct? And then and it provides the redundancy that that
I talked about with multiple nodes. Whereas a WS if
one server or one location goes down, it's impossible to
access these websites. And we saw that with the AWS,
even though it was a different circumstance in terms of DNS,
it happens before. So there's websites that continue to you know,
(05:29):
be down for a long period and companies are losing
millions and the dollars. With this solution, you can actually
be more redundant, not just in terms of the data structure,
but also with the DNS, so it's it's more reliable
in terms of access and making sure that things are
online during that actually downtime, Igon was online at that time,
(05:51):
so not everyone. A lot of the big companies at
that time were down, but Igon was resilient because of
the distributed structure.
Speaker 1 (05:59):
Brilliant. Okay, that that is probably something that a lot
of companies will be looking into now after they've suffered
that downtime. How can we mitigate this risk? Every hour
of downtime is money, So I'm hoping they look up
egon or other solutions that you have to be able
to provide them to make them more resilient in their
(06:20):
solutions and the solutions that provide for their customers.
Speaker 2 (06:24):
So fingers crossed there.
Speaker 1 (06:25):
Now, I know that participating in the ecosystem, you can
provide nodes, so users such as myself can be no providers.
And recently you guys had some really good looking hardware
go out to the community, but you've had these things
called cyclones and so fuck a mini computer or something.
(06:45):
Could you explain to us exactly what that is and
how it works?
Speaker 3 (06:48):
Yeah? Sure, I mean so right now, Well, prior to
the Cyclone. What we had was in software that you
could actually use on any device to provide your idle capacities,
but it was complex for some people individuals that wanted
to actually participate in the in the shared economy. So
we decided to try to tackle that problem in terms
of making something very simple and easy to use, and
(07:10):
the idea that we came up with is Cyclone, which
is a plug and play device, so in a way
that we want to make it very simple for the
average user that's non tech savvy to be able to
participate in this shared economy. So when you receive this device,
and certain people already have received it, especially in Europe
region and the UK region, you can basically plug it
(07:31):
in Ethernet. It takes less than five minutes to set
up and you're up and running with providing your idle
capacity earning rewards. And that's a great way to contribute
to something that you want to support without understanding how
to do it technical in a technical way.
Speaker 1 (07:48):
I've seen some pictures online of people setting up their cyclones,
putting in those v EM drives I can't remember the acronym.
There's really small drives in there and getting their hardware
up and running within a few minutes. So it does
look quite a brilliant solution and making it a lot
easier for people to get on board. And I know
(08:10):
there's other crypto projects out there that also provide hardware.
I can't remember the name of there's one that provides
like mobile phone connections, and it just makes things really
easy for anyone that wants to participate into the network
just to buy the hardware, plug it in, set it up,
and they're a part of the network and providing a
service and using blockchain for it. So I absolutely love
(08:32):
this solution, but I haven't got mine yet.
Speaker 3 (08:34):
Good point, and let's talk about that. Actually, So we
with certain regions have have received it and we've been
working really hard to make sure that we do all
the you know, the taxes and stuff for Europe region,
for the US region and US is about to be
delivered hopefully shipped out early next week, same as Oshana region,
(08:56):
same as Peru. I think there was per in that
in that allocation as well, and certain parts of Asia
as well that will be shipped out on Monday. So
we hope to see a lot more people participating in
the shared economy by next week, and let's hope that
that you get your alert when when we send it out,
that you should get a tracking information with you. Okay,
(09:19):
email will go out and you will get information on
you know, when the package should arrive. Unfortunately, we couldn't
cover customs a costs for everyone because we had distribution
centers in the US and Europe because the device took
a bit longer to build. We covered a lot of
the custom costs for certain regions because we believe that
(09:41):
you should have a good experience right from the start,
and I think that we tried to do as much
as possible other regions, it wasn't possible because you know,
it's hard to find a distribution center willing to tackle
on smaller amount of nodes in those regions. So you know,
we couldn't We couldn't do it for them, but we
have done it for a lot of the users, to
involve users in the US and Europe.
Speaker 1 (10:03):
All Right, I feel like you're prepping me here for
a customs bill. I am all right, okay, all right,
that's fine, okay, all right. So the time recording of
this it's the twenty fourth, so the twenty seventh, we
should see some of these out. So if you're watching
this in the future, hopefully you've already gotten your hard
(10:24):
red device and I'm doing a follow up video holding
it and you know, showing you how to set it
up and how to get up. All right, okay, so
soon soon, very very soon. Now, there are some partnerships
that you guys have done recently, and I thought this
one was really big. This is with the Worth Group.
I'm hoping I'm pronouncing that correctly, but I thought this
(10:45):
one was really cool because it tapped into kind of
like the maker space with three D printing. From what
I understand, can you explain this partnership and how big
it actually is.
Speaker 3 (10:55):
Yeah. So Worth Group, if anyone doesn't know, is a
family owned business out of d and they have offices worldwide.
They have over thirty billion in revenue each year, so
they are considered a fortune five hundred in the Europe,
so very big company. They work with a lot of
big partners like Porsche, GM, all the big car manufacturers
(11:17):
they work with. What they do with a lot of things,
but one thing that they do that we want to
concentrate on is printing three D parts for car manufacturers
and a lot of the problems that they faced early
on was that, well not problems, it was kind of
like a way to monetize the blueprint. So for example, BMW, Mercedes,
(11:38):
and GM have these car parts that cannot be monetized.
What I mean by that is they have their own
IP of a part of a car part which they
have to send to authorized dealership to be able to
make that part. Now, the problem here is that you
cannot trust a third party with that blueprint. But because
(11:59):
if you send it to a third party body shop,
what can happen is that they can cash the image
and print as many parts as possible, which is there
which is no way of kind of deducing from that
how many parts they've printed, you know, and and how
much how much revenue they've gotten. They could just kind
of steal the IP, so there was no way to
(12:20):
monetize that. And also there's problem with you know, delivery
to the user because if you have to as as
an end user which is a driving your car and
you have to take it to the body shop, You're
not going to wait months and months for a body
part or go to an authorized dealership that might be
like hours away, right, You're just going to go to
the closest body shop and you're gonna you're gonna take
(12:42):
the part, maybe even take a third party part which
isn't an authorized part, right and use that in the car,
right because you want quick accessible parts, right, so and
and and the same with the body shop that's there. Right,
They're not going to be selling these uh these parts
because it's not easy to get a hold of them.
(13:02):
It's very takes a long time and you know use
the user doesn't want to wait that long. So what
work Group and Eegon have come up with is way
to monetize that blueprint. Now you can actually share this
part with any body shop as long as they have
you know, this solution, and this allows them to tap
into a market that's untapped, decrease the shipping time to
(13:23):
the end consumer, increase their revenue because now you can
tap into more customers and you have more accessible market. Right.
So it is it's a big win for them and
they expect this MVP partnership that we're doing with them.
Now you can actually limit the number of prints with
the crypto storage and whatnot, and also with using blockchain
(13:44):
with cred anals, so they can limit the number of
prints that are done and prove that this is the
amount of prints that we're done, and prove that the
process of the printing was done properly, meaning that the
proper parts were used, proper material was used that they
can't bleme aim it on that part like, it's actually
done very well. Right, So now you have everything approvable
(14:06):
on chain. And also at the same time, these transactions
will be done through Credano using a layer two of course,
because we can't use the micro transactions on cred Ano
otherwise it becomes very expensive for some parts. You know,
if you're printing small screws, for example, and they cost
less than you know, a few cents, you can't be
paying so much for transaction fees just to print those screws, right,
(14:29):
So we won't have a layer two which can do
bulk transactions and put it on chain. But the main
thing is that it brings revenue to work Group and
its partners. So now we're worth Group is estimating this
MVP in the first two years to bring fifty to
one hundred million, and that was the early estimate. We
actually expect that to increase as they're actually going to
(14:49):
deploy this solution. Globally. That's different from what was communicated prior.
So we're very excited to that. We just actually heard
about this a couple of days ago, so you're the
first to no pe.
Speaker 1 (15:00):
Very exciting news.
Speaker 3 (15:01):
Yeah, and it's we and and basically we will get
to two to five percent royalties depending on what is
a creed upon with Worth Group on this MVP, so
to bring adoption and also bring revenue. And this will
be distributed to note operators as well. So if you're
contributing to this shared economy, you will be part of
that economy. And and it's a great news for for
(15:24):
the Igon ecosystem. I will also on a side note,
I will be attending the Credental Summit. We won't have
a side event with Worth Group, doing a joint presentation
with them. I've I've gotten invited to their headquarters prior
to that, so I'll be attending their headquarters, getting some
senior people there, and and also got invited to football
(15:45):
match near the near the town that there is. It's
gonna be a it's gonna be a lot of fun,
all right.
Speaker 1 (15:51):
Just to make me a little bit jealous, right, this
partnership is just right up my alley because like, seriously,
I have to jump into the crate behind me. But
I'm buying car parts at the moment. These are after
my car parts. Some of them are three D printed
as well, and you know, I just love being able
to modify, upgrade automobile my car and print out customized
(16:13):
parts so everything fits in perfectly. And this is perfect.
I could really see the mechanics down the road or
wherever they are if they have partnership with Worth to
be able to get these customized pass these really small
parts direct to the consumer and user. I'm scouring the
internet at the moment and buying parts from all around
the world just to you know, do what I want
(16:36):
to do. So I see a huge amount of value
in this, So I'm pretty excited users such of myself
tap into this. Or is it only dealership partners that
are connected with Worth?
Speaker 3 (16:47):
But for for now, I think it's only dealership partners
that are connected with Worth. But you know, we've talked
to a worst group about the IP and I think
this can be expanded into many different verticals, not just
the car manufacturing vertical, and they expect us to grow
to a one billion dollar industry in the long run.
So they have big plans for this, and I think
that it's just the start to showcase how it will
(17:08):
work and bring revenue in and bring customers on before
we expand into a bigger scope.
Speaker 1 (17:14):
Okay, all right, we'll see that where this goes. This
is majorly exciting for you guys. I'm hoping for the best.
Now talking about retail side of things, how is the
retail uptake of the platform of IGON in terms of
not just providing nodes but also using it as a
place to store data and what other areas of adoption
(17:36):
you guys looking into other than these really big partnerships.
Not that we should disregard the partnerships at the moment,
but you know what else is on the cards for
that I'm getting more usage of the platform overall.
Speaker 3 (17:47):
Well, one thing is the enterprise compute. We're really pushing
that forward. It's just for the more heavy users, not
the retail users. But there are retail users, but more
heavy users like, for example, companies that are in cared anal.
We contacted a bunch of them in after the AWS outage,
and I think we have four in line. Let's hope
(18:08):
that they all materialize. We also are working with Intersect.
Intersect will be potentially giving us some funds for onboarding people,
so credits, free credits to people to try out the software,
to try out the software and an enterprise compute to
see if they like it, and then they can continue
with the subscription if they like. So we have a
(18:28):
few plans to increase the adoption on onboarding process for
the enterprise compute for the retail users. In terms of storage,
we have big plans. That's something that hasn't been really
focused on right now because we've had all these enterprise
partners that have come through. We actually had plans for
that earlier, which was last year. Actually, we had that
(18:49):
on the roadmap for actually this year, and what happened
was that we got a lot of interest suddenly from
a lot of those enterprises, including work Group. That materialized
and then we started focusing a lot of our attention
on that because you know, you never say no to
those kind of big customers. Have to you have to
bring them on board.
Speaker 1 (19:08):
If money's knocking at the door, like let them in exactly.
Speaker 3 (19:12):
But we do understand that retail is a big market
and there's a big need for get the cut out solution.
So we are working on this drop Box like solution
that is we're in being for at least for the
next quarter, and not not this quarter, but the next
quarter in Q twenty twenty six, and hopefully we can
get that out to the users with sharing, user side encryption,
with we transfer like features, you know, like we want
(19:35):
to bring a lot in there where you have like
collaboration efforts, so you know, working on docs together, where
you have an audit trail on chain, we can actually
view all the information. So a lot of features are
coming on that side. And we're going to have a
big referral program on that and we'll talk to you
Pete about that later. Maybe there is this big reward system.
(19:58):
We have sixty million i G allocated for this referre program,
and we really want to drive more users to the platform.
But before we do that, we want to make sure
that the product is something that people will be using
and we feel comfortable I think in Q one to
be able to do that and be able to push
that up.
Speaker 1 (20:16):
I think once you have that drop Box like experience
for desktop environments, I think that's when you're really going
to get that retail usage uptake at the moment, I
have to log into the platform and upload files manually.
It's a little clunky. Yeah, So having it automated in
the background ideal, yes, and soon be great. Because my
(20:38):
iPhone Cloud iCloud storage is full, My drop Box to
drop Box accounts are full. I don't want to pay
for more storage there. My Google Cloud is at like
eighty nine percent or something. You don't have much time here.
If you can get it up and running please right now.
You mentioned the iag token as well, and this is
(21:01):
pretty much drives in Thai ecosystem thing from if you're
running a cyclone, if you're running a no, you need
IG token state to it so you can actually run it.
You need IG tokens to access the storage platform as well.
Speaker 2 (21:15):
Is that correct?
Speaker 3 (21:17):
Correct? You don't need to access it. You can get
a discount lit service if that's it.
Speaker 1 (21:22):
That's it. So lots of little utilities there, so I'm
pretty sure people will want to be able to access
these tokens. What centralized exchanges are you guys listed on
at the moment for these access to these tokens?
Speaker 3 (21:34):
Right now, we're listed on a big get a bit true,
we should ending x we will be listed on a
couple others. We have planned two others and we actually
have another I don't know if you want to call
it exchange, but we have another one sort three in
total that we have planned. One end this month and
then the other two hopefully in November December around then.
(21:56):
So we want to really start getting more awareness in
different crowds, in different sections about the IG token and
the ig token it just like you said, drives the
shared storage and computer economy. You need to be able
to stake to be able to run a node. What
that means is you have something on the line. You're
putting your money where your mouth is. Basically, right, if
you can't be a bad actor on the in the network,
(22:19):
because if you are, you can actually do some really
bad stuff to the network. Because if you're if you
don't have any staking, what happens is you as if
you're a bad actor, you can run multiple nodes in
a region and just shut them down at the same time, right,
and now the user has lost all its files. Right
with the staking mechanism, it still can happen, but you're
(22:39):
less likely to do that because you have something at stake. Yeah,
so you can't be you know, just shutting it down
all an instant so it's easier, easier to trust the
other party. You also garner rewards and iERG as a
note operator, and like you said, you get discounted services
if you subscriptions if you sign up on the Igun
(23:02):
storage cloud.
Speaker 1 (23:03):
All right, Plane, thank you for explaining all that. I'll
put links to some of those exchanges down below, and
of course if you are in the Kadano ecosystem, it's
listed pretty much everywhere, so you can get your hands
on that if you're deep in the trenches on Kardano already.
If not, grab a wallet and dive in and you'd
be able to find the IG token to any of
(23:25):
the popular Kardano decentralized exchanges. But Avjit, thank you so
much for joining me on the podcast and talking through
everything here. I am personally an IG token holder obviously
if I've got a cyclone coming as well, so I
can't wait to get my hands on that and participate
in the ecosystem. And thank you for going through all
(23:45):
of these various updates and explain everything that's happening with IG.
Speaker 3 (23:49):
Thanks for inviting me and Peter. I appreciate it always.
Glad to be here. Thank you very much.
Speaker 1 (23:53):
Awesome, we'll chat soon.
Speaker 3 (23:54):
Thank you so big.
Speaker 1 (23:55):
Thank you to Navjit for joining me and talking everything
that I go on has been up to. If you
want to watch the video of me setting up my
hardware thingy links in the top right hand corner there
where you can find out a little bit more about
that and how you possibly could come into the ecosystem,
set up one of these hardware devices and contribute to
(24:15):
the ecosystem itself.
Speaker 2 (24:17):
It's really really easy to do.
Speaker 1 (24:19):
Now. If you enjoyed this video, if you've got something
out of it, make sure you hit that thumbs up
that like subscribe notification bell. Please hit that subscribe button
works wonders with the YouTube algorithm. And I've got other
ways that you can support me with all of these
links here to buy me a coffee or Patreon down
the side here, and of course YouTube memberships down below,
and if you want to, you can also subscribe or
(24:41):
delegate your aided to my Kadano stakepool aida oz and
then you will also be possibly getting some midnight tokens
depending on.
Speaker 2 (24:51):
When that all goes online.
Speaker 1 (24:53):
And I get my maint node up and running as well,
so lots of things happening, There are lots of ways
to support the channel, and I can't do this work
without you guys, so absolutely appreciate it.
Speaker 2 (25:03):
You guys, and I'll see you in the next video.
Hi everyone, I'm Peter and welcome back to another episode
of Builder's Bench where I talked to various projects in
the Codona ecosystem building some amazing projects, and this one
here is with Igon. I have Nagit talking to me
about everything that they've been up to.
Speaker 2 (00:17):
I absolutely love this project.
Speaker 1 (00:18):
I've got a igone hardware thingy on the shelf there,
and you know, you know you're a super fan when
you're investing in the hardware and participating in the ecosystem itself.
But we're going to talk about that hardware thingy. We're
going to talk about the partnerships that they've formed with
Fortune five hundred companies and a whole lot more. So
hit that thumbs up like subscribe notification belt on your
(00:39):
way in and.
Speaker 2 (00:40):
Let's get to it.
Speaker 1 (00:41):
I have the CEO of I Gone here joining me
on this episode. Najits. You've been on the podcast before
and I am so thankful that you're back on again
to talk about this stuff and what Icon is all about.
Speaker 2 (00:54):
So welcome back to the podcast.
Speaker 3 (00:55):
Thanks for having me. Pete. And you know, aws not
the first time they've went down, but I think it
was a DNS problem this time. It wasn't really the infra,
but it has happened before, and we want to talk
about how we can mitigate that.
Speaker 1 (01:08):
Chah Okay, Now, I know there's a lot of people
out there that still don't know much about IGON and
what you guys have to offer for the infrastructure space.
Could you give us an overview of what IGON is.
Speaker 3 (01:21):
So, Igon's basically like Airbnb for storage and compute. So
what we do is connect the idle resources that people
might have in their laptopspcs, workstations or data centers. You
know how that can provide to the network these idle
capacities and connect them to users that need them and
add a more cost effective, more secure, private way. And
(01:43):
that's in a sense what IGON does with storage and compute.
Speaker 1 (01:47):
That's really cool. And how does this tie into what
happened with a DOOS. I know you said it was
a DNS issue here, but in other circumstances, if infrastructure,
hardware and all that did go down, how could did
I goon help within those type of situations?
Speaker 3 (02:03):
Yeah, I mean it happens a lot, not just with downtime,
but also with data leaks. So you know there's many
instances not that AWS isn't secure, but the implementation might
be unsecure in some instances. Is that you know files
are stored centrally. What that means is a ws and
Google and all these other big companies have you know,
data centers in different locations, and these data centers can
(02:27):
keep full access of well the full file of your
of your data right. And what eye On does in
a different manner is what we do is distribute the
data over multiple let's call them data centers. We also
call them nodes. So anyone that provides their idle capacities
is deemed a node in our situation. So I like
to use this analogy to compare the centralized solutions versus
(02:49):
a decentralized is a data leak. So when you send
your file due to a ws I or or Google, sorry,
you send the full file, it's stored in a data lake.
A data lake represents maybe a server in this case,
in somewhere in some location. And let's think of a
lake with a fence around it. And if a hacker
were to jump over this fence, he or she could
(03:12):
swim in the lake and collect as much information as possible.
And you know that's in a dumb down fashion how
data leaks happen. Now, taking that same analogy, what we
do is we take the idle resources multiple resources around
the world or multiple devices around the world. Now, instead
of the full file being at one server, it's actually
(03:32):
sliced and spread across to different servers or computers or
data centers across the world, and they're encrypted. Now, using
the same analogy, you have multiple mini lakes instead, and
they also have a fence around it, but they're also
completely frozen. The frozen part is the blockchain aspect of it.
So in order to liquify and combine those mini lakes
(03:53):
and get access to the data, the only person that
can do that is the person that uploaded the file.
That's why we call it. That's why our solution is
more sovereign and you have full control of your data.
In the same examples, we can think about downtime in
the same way. If one of those data lakes is down,
there's no way to access your data. Now you have
(04:14):
multiple instances of many kind of nodes. You don't need
all of those mini pieces to be online, and our
actually algorithm only forty three percent of those nodes need
to be online to be able for you to retrieve
your data. So that's why we call it more redundant
as well, and as well as more sovereign, meaning that
(04:36):
you control your own data in a very robust way.
Speaker 1 (04:39):
So full control over your data and more robustness. So
that sounds like an absolutely brilliant solution for anyone that
is wanting to store their data online and make sure
it's as secure as possible. Now I know that there's
other features with It's not just data storage like a cloud,
but also it can provide web hosting as a solution
(05:01):
as well, so users can upload static websites to the
system and environment.
Speaker 2 (05:07):
Is that correct?
Speaker 3 (05:08):
Correct? And then and it provides the redundancy that that
I talked about with multiple nodes. Whereas a WS if
one server or one location goes down, it's impossible to
access these websites. And we saw that with the AWS,
even though it was a different circumstance in terms of DNS,
it happens before. So there's websites that continue to you know,
(05:29):
be down for a long period and companies are losing
millions and the dollars. With this solution, you can actually
be more redundant, not just in terms of the data structure,
but also with the DNS, so it's it's more reliable
in terms of access and making sure that things are
online during that actually downtime, Igon was online at that time,
(05:51):
so not everyone. A lot of the big companies at
that time were down, but Igon was resilient because of
the distributed structure.
Speaker 1 (05:59):
Brilliant. Okay, that that is probably something that a lot
of companies will be looking into now after they've suffered
that downtime. How can we mitigate this risk? Every hour
of downtime is money, So I'm hoping they look up
egon or other solutions that you have to be able
to provide them to make them more resilient in their
(06:20):
solutions and the solutions that provide for their customers.
Speaker 2 (06:24):
So fingers crossed there.
Speaker 1 (06:25):
Now, I know that participating in the ecosystem, you can
provide nodes, so users such as myself can be no providers.
And recently you guys had some really good looking hardware
go out to the community, but you've had these things
called cyclones and so fuck a mini computer or something.
(06:45):
Could you explain to us exactly what that is and
how it works?
Speaker 3 (06:48):
Yeah? Sure, I mean so right now, Well, prior to
the Cyclone. What we had was in software that you
could actually use on any device to provide your idle capacities,
but it was complex for some people individuals that wanted
to actually participate in the in the shared economy. So
we decided to try to tackle that problem in terms
of making something very simple and easy to use, and
(07:10):
the idea that we came up with is Cyclone, which
is a plug and play device, so in a way
that we want to make it very simple for the
average user that's non tech savvy to be able to
participate in this shared economy. So when you receive this device,
and certain people already have received it, especially in Europe
region and the UK region, you can basically plug it
(07:31):
in Ethernet. It takes less than five minutes to set
up and you're up and running with providing your idle
capacity earning rewards. And that's a great way to contribute
to something that you want to support without understanding how
to do it technical in a technical way.
Speaker 1 (07:48):
I've seen some pictures online of people setting up their cyclones,
putting in those v EM drives I can't remember the acronym.
There's really small drives in there and getting their hardware
up and running within a few minutes. So it does
look quite a brilliant solution and making it a lot
easier for people to get on board. And I know
(08:10):
there's other crypto projects out there that also provide hardware.
I can't remember the name of there's one that provides
like mobile phone connections, and it just makes things really
easy for anyone that wants to participate into the network
just to buy the hardware, plug it in, set it up,
and they're a part of the network and providing a
service and using blockchain for it. So I absolutely love
(08:32):
this solution, but I haven't got mine yet.
Speaker 3 (08:34):
Good point, and let's talk about that. Actually, So we
with certain regions have have received it and we've been
working really hard to make sure that we do all
the you know, the taxes and stuff for Europe region,
for the US region and US is about to be
delivered hopefully shipped out early next week, same as Oshana region,
(08:56):
same as Peru. I think there was per in that
in that allocation as well, and certain parts of Asia
as well that will be shipped out on Monday. So
we hope to see a lot more people participating in
the shared economy by next week, and let's hope that
that you get your alert when when we send it out,
that you should get a tracking information with you. Okay,
(09:19):
email will go out and you will get information on
you know, when the package should arrive. Unfortunately, we couldn't
cover customs a costs for everyone because we had distribution
centers in the US and Europe because the device took
a bit longer to build. We covered a lot of
the custom costs for certain regions because we believe that
(09:41):
you should have a good experience right from the start,
and I think that we tried to do as much
as possible other regions, it wasn't possible because you know,
it's hard to find a distribution center willing to tackle
on smaller amount of nodes in those regions. So you know,
we couldn't We couldn't do it for them, but we
have done it for a lot of the users, to
involve users in the US and Europe.
Speaker 1 (10:03):
All Right, I feel like you're prepping me here for
a customs bill. I am all right, okay, all right,
that's fine, okay, all right. So the time recording of
this it's the twenty fourth, so the twenty seventh, we
should see some of these out. So if you're watching
this in the future, hopefully you've already gotten your hard
(10:24):
red device and I'm doing a follow up video holding
it and you know, showing you how to set it
up and how to get up. All right, okay, so
soon soon, very very soon. Now, there are some partnerships
that you guys have done recently, and I thought this
one was really big. This is with the Worth Group.
I'm hoping I'm pronouncing that correctly, but I thought this
(10:45):
one was really cool because it tapped into kind of
like the maker space with three D printing. From what
I understand, can you explain this partnership and how big
it actually is.
Speaker 3 (10:55):
Yeah. So Worth Group, if anyone doesn't know, is a
family owned business out of d and they have offices worldwide.
They have over thirty billion in revenue each year, so
they are considered a fortune five hundred in the Europe,
so very big company. They work with a lot of
big partners like Porsche, GM, all the big car manufacturers
(11:17):
they work with. What they do with a lot of things,
but one thing that they do that we want to
concentrate on is printing three D parts for car manufacturers
and a lot of the problems that they faced early
on was that, well not problems, it was kind of
like a way to monetize the blueprint. So for example, BMW, Mercedes,
(11:38):
and GM have these car parts that cannot be monetized.
What I mean by that is they have their own
IP of a part of a car part which they
have to send to authorized dealership to be able to
make that part. Now, the problem here is that you
cannot trust a third party with that blueprint. But because
(11:59):
if you send it to a third party body shop,
what can happen is that they can cash the image
and print as many parts as possible, which is there
which is no way of kind of deducing from that
how many parts they've printed, you know, and and how
much how much revenue they've gotten. They could just kind
of steal the IP, so there was no way to
(12:20):
monetize that. And also there's problem with you know, delivery
to the user because if you have to as as
an end user which is a driving your car and
you have to take it to the body shop, You're
not going to wait months and months for a body
part or go to an authorized dealership that might be
like hours away, right, You're just going to go to
the closest body shop and you're gonna you're gonna take
(12:42):
the part, maybe even take a third party part which
isn't an authorized part, right and use that in the car,
right because you want quick accessible parts, right, so and
and and the same with the body shop that's there. Right,
They're not going to be selling these uh these parts
because it's not easy to get a hold of them.
(13:02):
It's very takes a long time and you know use
the user doesn't want to wait that long. So what
work Group and Eegon have come up with is way
to monetize that blueprint. Now you can actually share this
part with any body shop as long as they have
you know, this solution, and this allows them to tap
into a market that's untapped, decrease the shipping time to
(13:23):
the end consumer, increase their revenue because now you can
tap into more customers and you have more accessible market. Right.
So it is it's a big win for them and
they expect this MVP partnership that we're doing with them.
Now you can actually limit the number of prints with
the crypto storage and whatnot, and also with using blockchain
(13:44):
with cred anals, so they can limit the number of
prints that are done and prove that this is the
amount of prints that we're done, and prove that the
process of the printing was done properly, meaning that the
proper parts were used, proper material was used that they
can't bleme aim it on that part like, it's actually
done very well. Right, So now you have everything approvable
(14:06):
on chain. And also at the same time, these transactions
will be done through Credano using a layer two of course,
because we can't use the micro transactions on cred Ano
otherwise it becomes very expensive for some parts. You know,
if you're printing small screws, for example, and they cost
less than you know, a few cents, you can't be
paying so much for transaction fees just to print those screws, right,
(14:29):
So we won't have a layer two which can do
bulk transactions and put it on chain. But the main
thing is that it brings revenue to work Group and
its partners. So now we're worth Group is estimating this
MVP in the first two years to bring fifty to
one hundred million, and that was the early estimate. We
actually expect that to increase as they're actually going to
(14:49):
deploy this solution. Globally. That's different from what was communicated prior.
So we're very excited to that. We just actually heard
about this a couple of days ago, so you're the
first to no pe.
Speaker 1 (15:00):
Very exciting news.
Speaker 3 (15:01):
Yeah, and it's we and and basically we will get
to two to five percent royalties depending on what is
a creed upon with Worth Group on this MVP, so
to bring adoption and also bring revenue. And this will
be distributed to note operators as well. So if you're
contributing to this shared economy, you will be part of
that economy. And and it's a great news for for
(15:24):
the Igon ecosystem. I will also on a side note,
I will be attending the Credental Summit. We won't have
a side event with Worth Group, doing a joint presentation
with them. I've I've gotten invited to their headquarters prior
to that, so I'll be attending their headquarters, getting some
senior people there, and and also got invited to football
(15:45):
match near the near the town that there is. It's
gonna be a it's gonna be a lot of fun,
all right.
Speaker 1 (15:51):
Just to make me a little bit jealous, right, this
partnership is just right up my alley because like, seriously,
I have to jump into the crate behind me. But
I'm buying car parts at the moment. These are after
my car parts. Some of them are three D printed
as well, and you know, I just love being able
to modify, upgrade automobile my car and print out customized
(16:13):
parts so everything fits in perfectly. And this is perfect.
I could really see the mechanics down the road or
wherever they are if they have partnership with Worth to
be able to get these customized pass these really small
parts direct to the consumer and user. I'm scouring the
internet at the moment and buying parts from all around
the world just to you know, do what I want
(16:36):
to do. So I see a huge amount of value
in this, So I'm pretty excited users such of myself
tap into this. Or is it only dealership partners that
are connected with Worth?
Speaker 3 (16:47):
But for for now, I think it's only dealership partners
that are connected with Worth. But you know, we've talked
to a worst group about the IP and I think
this can be expanded into many different verticals, not just
the car manufacturing vertical, and they expect us to grow
to a one billion dollar industry in the long run.
So they have big plans for this, and I think
that it's just the start to showcase how it will
(17:08):
work and bring revenue in and bring customers on before
we expand into a bigger scope.
Speaker 1 (17:14):
Okay, all right, we'll see that where this goes. This
is majorly exciting for you guys. I'm hoping for the best.
Now talking about retail side of things, how is the
retail uptake of the platform of IGON in terms of
not just providing nodes but also using it as a
place to store data and what other areas of adoption
(17:36):
you guys looking into other than these really big partnerships.
Not that we should disregard the partnerships at the moment,
but you know what else is on the cards for
that I'm getting more usage of the platform overall.
Speaker 3 (17:47):
Well, one thing is the enterprise compute. We're really pushing
that forward. It's just for the more heavy users, not
the retail users. But there are retail users, but more
heavy users like, for example, companies that are in cared anal.
We contacted a bunch of them in after the AWS outage,
and I think we have four in line. Let's hope
(18:08):
that they all materialize. We also are working with Intersect.
Intersect will be potentially giving us some funds for onboarding people,
so credits, free credits to people to try out the software,
to try out the software and an enterprise compute to
see if they like it, and then they can continue
with the subscription if they like. So we have a
(18:28):
few plans to increase the adoption on onboarding process for
the enterprise compute for the retail users. In terms of storage,
we have big plans. That's something that hasn't been really
focused on right now because we've had all these enterprise
partners that have come through. We actually had plans for
that earlier, which was last year. Actually, we had that
(18:49):
on the roadmap for actually this year, and what happened
was that we got a lot of interest suddenly from
a lot of those enterprises, including work Group. That materialized
and then we started focusing a lot of our attention
on that because you know, you never say no to
those kind of big customers. Have to you have to
bring them on board.
Speaker 1 (19:08):
If money's knocking at the door, like let them in exactly.
Speaker 3 (19:12):
But we do understand that retail is a big market
and there's a big need for get the cut out solution.
So we are working on this drop Box like solution
that is we're in being for at least for the
next quarter, and not not this quarter, but the next
quarter in Q twenty twenty six, and hopefully we can
get that out to the users with sharing, user side encryption,
with we transfer like features, you know, like we want
(19:35):
to bring a lot in there where you have like
collaboration efforts, so you know, working on docs together, where
you have an audit trail on chain, we can actually
view all the information. So a lot of features are
coming on that side. And we're going to have a
big referral program on that and we'll talk to you
Pete about that later. Maybe there is this big reward system.
(19:58):
We have sixty million i G allocated for this referre program,
and we really want to drive more users to the platform.
But before we do that, we want to make sure
that the product is something that people will be using
and we feel comfortable I think in Q one to
be able to do that and be able to push
that up.
Speaker 1 (20:16):
I think once you have that drop Box like experience
for desktop environments, I think that's when you're really going
to get that retail usage uptake at the moment, I
have to log into the platform and upload files manually.
It's a little clunky. Yeah, So having it automated in
the background ideal, yes, and soon be great. Because my
(20:38):
iPhone Cloud iCloud storage is full, My drop Box to
drop Box accounts are full. I don't want to pay
for more storage there. My Google Cloud is at like
eighty nine percent or something. You don't have much time here.
If you can get it up and running please right now.
You mentioned the iag token as well, and this is
(21:01):
pretty much drives in Thai ecosystem thing from if you're
running a cyclone, if you're running a no, you need
IG token state to it so you can actually run it.
You need IG tokens to access the storage platform as well.
Speaker 2 (21:15):
Is that correct?
Speaker 3 (21:17):
Correct? You don't need to access it. You can get
a discount lit service if that's it.
Speaker 1 (21:22):
That's it. So lots of little utilities there, so I'm
pretty sure people will want to be able to access
these tokens. What centralized exchanges are you guys listed on
at the moment for these access to these tokens?
Speaker 3 (21:34):
Right now, we're listed on a big get a bit true,
we should ending x we will be listed on a
couple others. We have planned two others and we actually
have another I don't know if you want to call
it exchange, but we have another one sort three in
total that we have planned. One end this month and
then the other two hopefully in November December around then.
(21:56):
So we want to really start getting more awareness in
different crowds, in different sections about the IG token and
the ig token it just like you said, drives the
shared storage and computer economy. You need to be able
to stake to be able to run a node. What
that means is you have something on the line. You're
putting your money where your mouth is. Basically, right, if
you can't be a bad actor on the in the network,
(22:19):
because if you are, you can actually do some really
bad stuff to the network. Because if you're if you
don't have any staking, what happens is you as if
you're a bad actor, you can run multiple nodes in
a region and just shut them down at the same time, right,
and now the user has lost all its files. Right
with the staking mechanism, it still can happen, but you're
(22:39):
less likely to do that because you have something at stake. Yeah,
so you can't be you know, just shutting it down
all an instant so it's easier, easier to trust the
other party. You also garner rewards and iERG as a
note operator, and like you said, you get discounted services
if you subscriptions if you sign up on the Igun
(23:02):
storage cloud.
Speaker 1 (23:03):
All right, Plane, thank you for explaining all that. I'll
put links to some of those exchanges down below, and
of course if you are in the Kadano ecosystem, it's
listed pretty much everywhere, so you can get your hands
on that if you're deep in the trenches on Kardano already.
If not, grab a wallet and dive in and you'd
be able to find the IG token to any of
(23:25):
the popular Kardano decentralized exchanges. But Avjit, thank you so
much for joining me on the podcast and talking through
everything here. I am personally an IG token holder obviously
if I've got a cyclone coming as well, so I
can't wait to get my hands on that and participate
in the ecosystem. And thank you for going through all
(23:45):
of these various updates and explain everything that's happening with IG.
Speaker 3 (23:49):
Thanks for inviting me and Peter. I appreciate it always.
Glad to be here. Thank you very much.
Speaker 1 (23:53):
Awesome, we'll chat soon.
Speaker 3 (23:54):
Thank you so big.
Speaker 1 (23:55):
Thank you to Navjit for joining me and talking everything
that I go on has been up to. If you
want to watch the video of me setting up my
hardware thingy links in the top right hand corner there
where you can find out a little bit more about
that and how you possibly could come into the ecosystem,
set up one of these hardware devices and contribute to
(24:15):
the ecosystem itself.
Speaker 2 (24:17):
It's really really easy to do.
Speaker 1 (24:19):
Now. If you enjoyed this video, if you've got something
out of it, make sure you hit that thumbs up
that like subscribe notification bell. Please hit that subscribe button
works wonders with the YouTube algorithm. And I've got other
ways that you can support me with all of these
links here to buy me a coffee or Patreon down
the side here, and of course YouTube memberships down below,
and if you want to, you can also subscribe or
(24:41):
delegate your aided to my Kadano stakepool aida oz and
then you will also be possibly getting some midnight tokens
depending on.
Speaker 2 (24:51):
When that all goes online.
Speaker 1 (24:53):
And I get my maint node up and running as well,
so lots of things happening, There are lots of ways
to support the channel, and I can't do this work
without you guys, so absolutely appreciate it.
Speaker 2 (25:03):
You guys, and I'll see you in the next video.
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