FAQ

General

What is TAIKAI?

Our vision is to shape the future of work, providing with the space and the right environment for our innovators to work on challenges posted by companies, present solutions and get money from it. On other hand, they can also showcase their work by allowing them to expose to the community their very own innovations or challenges. Can you imagine a world where you could work with NASA one day and with coca-cola the next?

How does TAIKAI work?

Organizations post their challenges, rules, and prizes on TAIKAI platform. Then, students, innovators or startups (teams or individually) can create a solution for that challenge. Finally, the crowd or jury selected by the organization back the best projects and the winner takes the prize.
Easy, right?
Check out the Challenges page to know more.

What are KAI tokens? What can I do with it?

KAI is the currency used in our platform. Innovators that finish challenges on the top positions and backers that invest in the winning projects are rewarded with KAI tokens by our reward algorithm. These tokens can be spent on our marketplace, can be used to access more features and services within the platform or you can be sent to other users on the platform as a payment currency.
In the future, you should be able to withdraw your KAI tokens to an external wallet under your custody and sell/buy them on exchanges.

When is the KAI Token going to be listed on an external exchange ?

This is on our roadmap but we can not reveal details about this. We expect to have news about this topic soon.

What is the KAI Token maximum supply?

The maximum amount of KAI that will circulate on TAIKAI economy is 1,000,000,000 KAI.

How do i get KAI Tokens?

At the moment you only can get KAIs by participating on a challenge as innovator or backer. As an innovator you will have to finish in a challenge top position to be entitled to receive KAIs as a reward for your participation. As a backer you will receive KAIs by investing on the project that finish up on the top challenge positions.

How the challenge rewards are distributed ?

The challenge rewards are calculated based on the challenge results using the projects final amount of KAIs invested. The rewards will be distributed to the team members (90%) and to project backers (10%) using a deterministic custom algorithm. The function rewards the participant members equally and the project backers on a pro-rata basis. To understand how this mechanism works in detail take a look at the KAI Challenge Rewards Explained post on our blog.

Why is TAIKAI using blockchain?

Blockchain technology allows us to bring decentralized trust and transparency to the voting system, align and automate processes to distribute incentives to the participants and ensure end-to-end traceability of challenges, projects and user transfers of value.

What information is stored on the blockchain?

All the backing process transactions, the transactions between users and the transactions between the main entities on the TAIKAI economy are traceable on the blockchain and could be scrutinized by an external entity. Apart from that, a snapshot of the current balances at any time could be retrieved from the TAIKAI smart contract. When a challenge finishes the final standing table for the challenge will be published on the blockchain for future analysis by a challenge auditor. On future versions of the platform, the intellectual property originated on the platform will be stored on TAIKAI smart contract to prevent others from using the information and intellectual goods that a project creates.

What blockchain platform is being used on TAIKAI?

We’re using the EOS.IO protocol to run our smart contracts and to build our native token. EOS.IO is a blockchain protocol powered by the native cryptocurrency EOS. The protocol emulates most of the attributes of a real computer including hardware with the computing resources distributed equally among EOS cryptocurrency holders. We chose this platform essentially for its scalability, feeless transactions for our users and for the support we got along the development process, among other reasons.

Are we using a Private or Public Blockchain?

Our smart contract is currently deployed and available on TELOS public network, a network managed by the TELOS Foundation and supported by well-known block producers distributed across the world. This network is fully accessible and auditable by anyone, and our smart contract/transactions can be followed using a transaction explorer like Explorador Bloks.

Innovators

Who can solve a challenge?

We call innovators to those who solve challenges, and they can be anyone that has the knowledge and experience to address a problem. Students, universities, freelancers, developers, creatives or startup members are just some examples of our innovators.

How do I submit a solution?

You can submit solutions to challenges that are active and until the submission deadline. If you want to provide a solution you need to register on the TAIKAI platform, go the “Challenges page”, choose the challenge and click on the “Create Project” button on the top right.

How can I ask questions about a particular challenge?

We are going to launch a forum where you will be able to discuss different challenges with organizations and other innovators - stay tuned! In the meantime, if you have any question about a challenge please send us an email to [email protected]

How do I know the challenges and awards are legitimate?

We only accept legitimate and reputable organizations in our platform. During the process of creating a challenge we also help organizations to create the best challenges possible and appropriate awards.

How many projects can I present per challenge?

You can only submit a project per challenge. So, ensure you create the best solution possible to tackle that challenge.

What incentives do I have to participate in the challenges?

Organizations can define different types of prizes that could be money, support to develop a PoC / prototype, among others. You will also be rewarded with badges and reputation that will allow you to access more features and services. In addition, if your project wins the challenge you/your team and the backers of your project are rewarded with tokens for their service to the platform.

Who chooses the winner of a challenge?

The organization that creates the challenge defines who can back the projects submitted. Organizations have three options:

  • Crowd: everyone in the platform can vote the on submitted projects;
  • Members of a specific organization: only members from an organization can vote on the submitted projects
  • Selected jury: only a selected people (jury) can vote on the proposed projects

What happens with my intellectual property after the challenge?

If you or your team win the challenge and you’re awarded for it, the intellectual property of your Project is passed on to the Organization that pays the prize (except if the Challenge clearly states otherwise). If you’re not selected as a Top Project, the intellectual property is yours to do whatever you want. In the future, we’re going to implement a way to track your IP on the platform through the use of blockchain technology, so that you can use that as proof. For more details regarding IP, please check our Terms & Conditions.

How can I delete my account?

If your account is closed, it will no longer be accessible and you can no longer access the challenges you’ve participated, your projects and loose all your balance and transactions. However, you must submit the request to [email protected] with your full name and email to our team finds the best solution.

What happens if I participate with a team?

To participate with a team when you are creating a challenge or editing a challenge you can add or remove other innovators to your project. If your project wins the challenge, the prize will be divided equally between all members of the team. If this does not reflect the effort of each member within the team, we suggest that you make contracts with those members outside the TAIKAI platform.

Who has access to my project?

It depends on rules defined by the challenge promoter. The promoter can make the innovators projects:

  • Public
  • Visible to TAIKAI logged in users
  • Visible to challenge participants
  • visible to the challenge promoter organization.

Organizations

Who can post a challenge?

If you need the help of innovators, you need to create an organization. Organizations can be corporates, universities, startups, governmental entities or NGOs. You need to create your personal profile before creating an organization.

What type of challenges can I post?

TAIKAI is a decentralized platform where corporates, startups and students can collaborate around a specific industry. Let us know if you can help you in creating your challenge through [email protected]

How can I monitor a challenge?

In the challenges page, you can see the projects already submitted to your challenge. In each project page, you can see a description of the project and the team that is working on it.

How do I know the project’s intellectual property submitted is owned by its innovators?

By signing up on the TAIKAI platform, Innovators agree that they are the sole owners of the intellectual property inserted into the platform. If that is not the case, they can face legal action by providing false or misleading information. For more details please check our Terms & Conditions.

What happens if there is no participation in my challenge?

If this happens we have a large experience to help you rethink your challenge in a more attractive way and/or change the submission deadline of the project.

What happens if there isn’t any project that deserves to win my challenge?

By creating a challenge, you should state clearly what are your objectives with that challenge. If it is not clear, projects that aren’t aligned with your best interests may be selected to win the challenge and there is nothing we can do about it. If it is clear and stated on the Terms of the Challenge, you can cancel that challenge if the projects selected aren’t what you asked for. Selecting a specific jury, along with a crowd jury, may also help to balance this out when choosing the best projects aligned with your vision.

Can I publish a challenge anonymously?

That’s not possible. However, you are going to launch a new set of features that allow organizations to create their challenge in a private mode where only selected members can view, participate and vote.

Can I make questions to the participants before I choose the winner?

We are going to launch a forum where you will be able to discuss directly with innovators their ideas and projects - stay tuned! In the meantime, if you have any question about a project please send us an email to [email protected]

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