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Peter Deri (Peti) and Zalan Mate Simon (Simi) the CEOs of New Live Aid started to deal with cryptocurrencies around the same time in late 2020.
There were small and large trades, but even Peti did not know how it would fit together technologically at that time.
There were one or two major trades around February-March when I missed a very big profit. I realized a gain too early, but I thought that this project was a very, very small contribution to the overall crypto world and to our reality, so for the common good of the Earth.Peti
Then Peti had the idea that they could come up with an amazing project of their own. They can come up with the scope of activities and the image and they can tokenize.
You don’t need that much programming knowledge to start this.Peti
The idea of his own token came to Peti’s mind in June, when Simi had already been in the crypto world for a while and they had been in contact not only because they were brothers, but also because they had been discussing investing opportunities.
Then one evening, after a phone call, the guys set off on their own project. They didn’t know what they were going to do yet, but Simi went over to Peti and they outlined what the project should be called, what the token should be called and what the total supply should be.
They were pretty much there, but they didn’t know the specifics yet, just the fact that it was going to be a green and charity project. They didn’t know the proportions, they didn’t know the exact activities that would lead to this becoming a functioning ecosystem, but they were confident that they wanted to not just talk about the project, but they wanted to implement the project and they wanted to make the goals achievable.
The name New Live Aid was chosen as a tribute to the American charity music festival. Organized on 13 July 1985, Live Aid was a monumental super-concert to help the starving in Ethiopia. Thanks to television coverage, it was seen live by more than one and a half billion people, making it the largest collective event in human history. Among the acts were Queen, Bon Jovi, Aerosmith and other big names from the 80s. It was a gigantic fundraiser.
The token itself is called AID Token, aid as a verb, aid as a noun, a playful and chatty way of saying it.
13 July is the 194th day of the year according to the Gregorian calendar. In any case, the project had to represent this number in some way. Thus, the total supply was defined as 1.94 billion.
That was it for the guys in one night, and the next day they met up with Andris, who is also their brother, and they blew up the ingenious crate. They threw a lot of stuff out and then filled it with new ideas, so you could say that the three of them had outlined 70% of the project. They fleshed out most of the current projects and set a direction for the whole New Live Aid initiative.
But I suppose you readers are also very curious about what my side was wondering about, what was the big WHY at the start.
For a very, very long time I have been telling my friends and people around me how important it is to protect our own living space. Environmental protection – you don’t have to think of this as the little brat who takes a sign out to the edge of the woods to protest, because that’s not what this is about and I’ve never approached it in a way that I’ve ever tried to throw up in the face of a stranger when he’s done anything. Obviously, if I saw someone in a forest throwing a litter I might have spoken up. But that’s not the point. – I was trying to pass on that kind of vision to my friends, to the people around me, that it is very important to do something individually and collectively for our environment, otherwise we will have no tomorrow. That is what is at stake here. That’s what it’s about.Peti
There are many studies that suggest that if big businesses continue to prosper in its current form and individuals do nothing for the environment, we are facing a very grey future, which in this case means not just a lack of smog-blanketed sunlight.
Big oil companies also spend an awful amount of money on marketing in a way that makes people see how green they are, but they don’t. Likewise, most of the little people who put up signs everywhere they go saying that they always pick up the rubbish they find lying around the roadside, that’s not the case at all, that’s just marketing.
This is the basic idea that they try to push in the whitepaper, that there is a study from 2009 that describes the nine planetary boundaries of our Earth.
Planetary boundaries: https://www.stockholmresilience.org/research/planetary-boundaries.html
The Netflix film – Breaking Boundaries – also stars Johan Rockström and David Attenborough, and both are fully on board.
The point of the study is that these planetary boundaries are responsible for our security, the security of the earth, the balance of the earth. If we start to destroy a single planetary boundary, not treat it as a critical factor, such as ozone depletion, ocean acidification, biosphere integrity, climate change, then Earth loses its balance. Upsetting the balance by destroying even a single border leads to a house of cards collapse.
I believe that with a project of this scale, I can not only reach my friends, but half the world’s population. If it succeeds, the New Live Aid system will be a success.Peti
The role of individuals is very important in this story, but New Live Aid, by making projects that benefit our planet, start-up projects and green activities a mission, not just get more people thinking about it, but it increases the impact we as individuals can make for the future of our planet.
In addition, the more people support the project, the more the project can promote it at an exponentially increasing rate, and this can become a self-generating process after a while.
The biggest challenge at the start of the project is to get anyone to buy AID. That’s essentially what it is. You need to buy a cryptocurrency to get projects up and running and to make the New Live Aid system work.
You have to convince people that this is a viable project and that our mission is everyone’s mission. It is a very difficult task, but I am confident that with a team like this it is possible.Peti
From what we have seen so far, Peti is passionate about saving our planet, and he wants to leave no stone unturned to make sure that not only his friends feel this, but that the whole world is affected by his betterment.
Simi’s motivation comes from elsewhere. She has been mindful of what she eats and what she uses for a long time, but the economy and finance play the biggest role in his life.
He has been studying economics for a very long time, he is studying economics at university and now he is studying finance, among other things, and he has always been attracted to business and commerce. He has been trading continuously since the beginning of 2020, when he first had to stay at home and couldn’t do anything between two classes, so he started crypto. He had been following Zalán Molnár and Kata Wéber for a while, but when they started to deal with cryptocurrencies, he absorbed the knowledge with them.
Business is a constant challenge, we all agree. So does Simi, who pointed out that she has never come across a green start-up except on Kickstarter or crypto, and has not found a single token with a worthwhile project behind it, which is dedicated to such a mission of such high importance.
So there’s no question that New Live Aid is a star constellation for not only being a crypto project but also for realizing a vision that is unique and important for our future.
The first thing the guys did was to try to get sponsors there so that they could carry out the projects, but unfortunately there was a huge problem.
The problem with Kickstarter and all these sites was that they can take more than 50% of the money raised, which is totally unrealistic.Simi
It’s a no-brainer that Kickstarter provides a website and advertises itself, not even the project, but half of the money raised goes to itself.
With crypto, this annoyance has been removed in one fell swoop, and on top of that, they can give themselves and others independence politically and in all areas, so there is no problem.
And of course, let’s not lose sight of the fact that crypto is now reaching more and more people, so this can only push the bandwagon further.
This is a unique way to deliver projects that only they and their investors need to meet.
The first Token was based on a very old Open Zeppelin ready-made code, which was made vulnerable by the modifications made to it. These were very quickly noticed by the guys, so they decided to fix the problem before any marketing and publicity and to move forward with caution to do everything they could to get their “baby” out of their hands in a way that was completely reliable and secure.
We are now six months after Peti called Simi one evening to embark on what might be the project of the century.
I must say that I needed that time anyway. On the one hand, to prepare ourselves mentally for what was to come, and also it took us that long to realize how complicated it was and what we were getting ourselves into. I think every two weeks we look at it with Simi and say, well, this is not what we talked about, that this is taking so long.Peti
They faced many challenges during these six months. They found that managing the team, the programming, the website, the various designs, the branding, all involved a lot of huge projects that are essential to a successful start-up.
If I had to start a project like this today, I’m sure everything would be much better planned and probably faster. But I’m sure I’d still be moving forward in a considered rather than a rushed way.Peti
It’s a very important thing to point out and to keep in mind that crypto is not just about freedom and it’s a very, very important thing. By using blockchain technology to set up a company with green projects and as a charity, they are revolutionizing what a charity looks like in the modern sense. The use of blockchain technology assures project supporters that all transactions are tracked, every single transaction is irrevocably recorded in the blockchain and remains traceable forever. This ensures that any transaction that is questioned can be verified as accurately as possible and is easily tamper-proof. All transactions are executed by machines in code, so there is no possibility of fraud.
To further increase security and confidence in the project, the code has been audited by Cryptall.
This auditing means that the smart contract is subjected to various attacks and the entire code is reviewed. Where a vulnerability or attack is discovered during the audit, it is disclosed so that the programmer can fix it. This is an extra point of trust for a crypto project.
How will you ensure that investors, large or small, have some say in projects?
In the long term, a system will be introduced that will allow AID token holders to vote on which sector to support, in effect, which sector to aid.Peti
The voting power will be determined by the amount of AID tokens, but with a careful eye to not letting the big investors tilt the vote to the detriment of the small ones, as buying only a few AID tokens is a big help.
We are trying to create a system so that those who have invested relatively less, but have hit a certain level, can have a say in it with a certain weight.Simi
You will be able to vote on the ideas that come up on the social network. Obviously, they have plenty more ideas up their sleeves, but if any member of the community comes up with an idea, whether on Discord, Telegram or any other social media channel, it will be put into the hat and voted on to decide the next area to be aided by the organization.
Everybody’s daily livelihood is important, so the crypto line is related to this, and they are trying to combine it in a way that people don’t invest in oil companies, but rather in the currently very popular ESG (Environmental Social Governance) project.
Simi pointed out here that the biggest problem with current ESGs is that there are countless methodologies for scoring. These ESG scores are given by different rating agencies or, say, Bloomberg. Any finance company can come up with an ESG scoring system to rank different companies.
The top 10 includes oil companies, an aluminum plant, a plastics plant, which is quite interesting in a list that lists ESG investments.
That’s what New Live Aid will try to put into people’s minds, that “t man from far away can say what he wants”, so it’s worth looking into it and seeing what’s behind, because we can learn a lot from it.
Small webinars and seminars are being planned and organized, where they will talk about basic economics both within the crypto ecosystem and the traditional financial system.
It is important that students receive basic financial education in primary school, as there is currently none.
They would like to implement these and similar niche things, so that the company is not just about making as much money as possible to green our planet, but they would like to give children a way of thinking from an early age, what finance is, how to handle money, what is important when investing, why it is important to do your own research and why they should not always listen to others. If they hear something, before accepting it, they should look into it. You shouldn’t take what a popular influencer says for granted because they’ve been hired to spread the word about something they probably don’t understand either.
They are planning to produce a lot of crypto-themed support material, videos, presentations, articles.
Right now, crypto is a wild west of finance where everything is allowed and everything is possible. There are already regulations in place where the FED or the SEC or similar regulators are trying to regulate it to make it traceable, but unfortunately, they also fall into the paradox of saying that crypto is the money of criminals, it should be regulated, but yet most of the illegal transactions are done with their own traditional cash, because cash is untraceable.
And then they say that crypto is the money of criminals, well I don’t know… I think there’s a lot of terror funding in dollar cash or not in cash but in guns or whatever.Simi
And that’s why we have to look at everyone to find and understand what is real and what they want us to believe.
Obviously, it is not easy for anyone in this financial wild west to get 100% reliable information. There’s lots of scams, but also a lot of valuable projects.
In the case of New Live Aid, for example, it is much easier to blossom and break out of the grey community. You don’t have to comply with regulators, which is a good thing, but it makes every investor want to think twice. There are lectures planned on how to trade crypto, technical, fundamental trading, and general things that you can learn about at university, but of course they are all simplified, just touching on the jargon a little bit, so that the guys can put it in a more understandable form for everyone, so that it’s easy for an average person like me, or an average investor to absorb.
There are plans to build a webshop section where a lot of home handicrafts, green and sustainable products will be produced and sold, which will be competitively priced compared to any other products currently used, such as detergents, because if they could be bought for five times the price of production, it would not be self-identical and would not make environmentally conscious living more accessible for families who have been buying the cheapest products. Those who have no choice will always try to find the cheapest.
We are trying to open up to this segment, to make it available to them because unfortunately they are the majority who can only choose the cheaper products because they have no other option, even if it is worse for them and for the environment.Simi
New Live Aid is different from a non-profit organization in that they do not rely on donations and supporters to sustain and implement the project itself, but on the capital invested. The main way people can support these green projects is to buy an AID Token and hold it, and of course they will also realize the profits.
This in itself creates a win-win situation. The investors benefit, the whole New Live Aid system benefits and last but not least our environment benefits, so the mission is a success.
All the projects currently on the horizon would stand their ground in the start-up world, so Simi says they will probably raise venture capital after the first or second or third project is launched.
There are a lot of start-up ideas in the current whitepaper, but there’s plenty more in the guys’ idea boxes that they won’t be afraid to use if the opportunity arises. And, as mentioned earlier, if an idea comes up in the community, they’ll be there to implement it.
To sum up, whether you are an individual, an investor, a team member – any member of our community – who has a good idea, New Live Aid can act as a venture capital investor in the future.Peti
There were already signs that the project might attract people from unexpected areas, as in a Facebook group in Hungary (called edible wild plants) Peti had a long conversation with a man who is open to modern things like cryptocurrencies. This man, who lives in the UK, is starting farming in 2022 on a larger plot of land in Tiszasüly, which he is keeping specifically for sustainable farming, tree planting and green projects, and is on the way to the New Live Aid collaboration.
What I want New Live Aid to do is to provide a service and a product with the AID token that is easy to take up and that really moves at least as many people as, say, Green Peace.Peti