ALPHA Business Update
Hi All! I wanted to take a few minutes to talk about all of the work the ALPHA team has been doing over the past 3 weeks and pull back the curtain to reveal a few big changes. Buckle up! There’s a lot to talk about!
First, ALPHA has a new development team. We’re comprised of skilled engineers, program managers, and business development specialists; all with numerous years of experience working on blockchain and non-blockchain related projects. All of us are longtime investors and crypto enthusiasts, but most importantly: all of us are deeply passionate about the ALPHA platform. Outside of our core team, we’ve also made it a point to surround ourselves with incredible talent, industry leaders, and financial, legal, and communications advisers.
The previous team was inspired to make crypto education and resources available to all. Within 6 months, they released version 1.0 of the whitepaper and announced Academy ALPHA with its major milestones. They also successfully listed the token on 2 exchanges, built a strong community of over 11,000 people, and distributed ALPHA to over 5,000 wallets. Their passion led to a great amount of success in a short amount of time; however, passion is only one piece of what’s needed to run a successful business. The old team’s final contribution to ALPHA and its community was putting the project in capable hands — a team dedicated to adding long-term value to the business.
Despite the successes the previous team accomplished, there were also numerous shortcomings that prevented Academy ALPHA from growing into a successful, lasting project. We’ll focus on three:
- First, they lacked upfront capital and were unable to generate any sustainable revenue. Without money, they were unable to license content through acquisitions, putting the earnest of the content creation on developers instead of actual content creators, in turn degrading the quality of content that would have been made available to the community.
- The second downfall was the use-case of the token. The original concept was “Learn & Earn,” a motto reflecting their altruistic intention to offer ALPHA tokens to users who completed courses. With no perceived value, no incentive to hold or spend, and no staking mechanism, the token’s value was based solely on speculation.
- Lastly, market saturation is a real concern. Market competitors have 100’s of lessons in their libraries of blockchain-based content that are aimed at educating fledgling investors; all taught by respected, industry professionals. These competitor sites frequently run deep cutting sales that would mean ALPHA would have to operate at a loss for many, many years before the company could see any profit.
Queue the Curtain
After numerous meetings, soul-searching, and leaning onto the expertise of our advisers — contemplating avenues on how to accomplish the original goal while keeping the interest of the community and the value of the token in mind — we have come to the decision to suspend our efforts with Academy ALPHA and direct our resources into fostering sustainable, upward value for the ALPHA Platform through the creation of enterprise-grade technology, capable of defining how companies interact with the blockchain.
This decision did not come lightly. We understand this shift in vision will alienate some investors. Our hopes are investors will see the value in our new direction and continue to support our efforts. Every decision we’ve made, at its core, has been with the intent to bring value to our investors, the ALPHA Platform and towards building a better blockchain ecosystem.
Our Vision
ALPHA will be a industry leader in blockchain-agnostic solutions and an open platform that offers fully scalable, customizable and seamlessly interconnected enterprise applications.
Here’s what we have in store:
Technology with value: We are in the process of creating the ALPHA Platform, an open, scalable platform of blockchain-agnostic applications that will allow businesses the ability to interact with the blockchain. Three products currently in development include:
- Highbridge: Highbridge is our first application that facilitates data transfer from legacy, centralized applications to any blockchain and vice versa.
- SAuth: SAuth, short for Stake Authentication, is an IAM (Identity Access Management) tool that will offer privacy while authenticating identity, or membership to premium content across federated sites. So in lieu of offering username and password, users will provide their wallet ID and be granted admission based on staking volume.
- ALPHA Core: Core is our platform that will be an open, extendable environment capable of growing with businesses as their business needs change while interacting with the decentralized ecosystem. The platform will offer OOTB solutions such as Highbridge, SAuth and more in addition to allowing other development teams to create tools to facilitate their business needs.
Holding the keys to our own success: We’re currently working on a partnership with a decentralized exchange built on the back of 0X relay technology that could potentially allow for some really cool interactions for our users. We have lots of ideas in the mix, but plan on utilizing this to bring our users ease-of-use, increase exchange volume of the token, and raise the price of ALPHA overtime. Excited to go more in-depth in our whitepaper.
Community First: Anyone who has spent any time researching blockchain companies, participated in an ICO or maybe just loosely followed a trending, self-proclaimed Jack Ma taught marketing guru — understands transparency is extremely limited in this space. We aim to be a leader in transparency and an example for other companies. The first step we’re taking to build transparency is creating the ALPHA Community Council. Holding the ALPHA token will allow access to ALPHA governance. Projects will be proposed to the council and voted on before development starts. We strongly believe the community has the right to help shape the company’s direction. In addition to the council, we’re adding visibility to our progress on GitHub, our developers are available and active on Twitter and Telegram and we encourage the community to interact with the development team. We’re all in this together.
We’re excited about the new direction and looking forward to working with our community to bring the most innovative products and partnerships to blockchain-agnostic technology. Now, you’ll have to pardon our dust as we build a stronger trail forward. Here’s what to expect over the next few weeks:
- New ALPHA landing page to release (alphaplatform.io): Includes information on the project, a look at the team, updates and more.
- Version 1.2 of the whitepaper to release
- GitHub visibility (including release of plain text whitepaper)
Stay up to date with our progress by following us on Twitter and Telegram.
