Hello Bitswift Community,
Welcome back to another monthly update, the place to be to keep informed with all things Bitswift. We have some awesome developments to cover this month and provide a yearly recap and projection for next year, so if you are interested you are in the right place. Let’s get at it, shall we?
Bitswift.cash Version 2 (Nimble) — LAUNCHED
We happy to share with you all that the new version of Bitswift.cash 2.0 (Nimble) which has been released to the public. The platform should still be considered in open beta mode, but as far as we can tell everything seems to be working properly, including the addition of the BTC (Bitcoin) native chain.
For those who are not aware, Bitswift.cash is a crypto-gateway service that interconnects independent public blockchains to each other. The service provides some unique features which we will cover briefly here.
The platform provides a faucet/fountain type service for many different types of crypto-assets. Verified Bitswift.cash users generate crypto-assets into their “claim pool”, where the user can claim any tokens they have generated after a certain amount of time has elapsed. This makes these blockchain networks easily accessible as there are no trading or mining tactics which need to be learned. Quite simply users verify their mobile number and push a claim button each day to harvest the crypto accumulated in their pools. The faucet also provides a marketing and promotional tool for token developers to get their assets out into the hands of a new and growing community, the Bitswift.cash community which has new users each day. Don’t be surprised to find additional assets hooked up soon as we continue to extend on the platform and build upon its features.
Bitswift.cash provides blockchain gateway service providing an interface for users to swap data between chains. For example, users can deposit Bitcoin from the BTC native chain, and have that BTC wrapped by the Bitswift.cash platform so that it can transverse and be utilized on the Bitswift blockchain. This also enables BTC to be traded directly on other blockchains where they may utilize features such as the decentralized exchange built right into the Bitswift protocol.
Accessible Interface with Support
Bitswift.cash provides an accessible interface so that users may interact with many different blockchain networks through a single account. Assets may be used across many different blockchain networks eliminating some of the burdens users face with cross-chain interoperability. Bitswift provides reputable support services for those who are interfacing and integrating with the token economy.
Something new with Bitswift.cash 2.0 is that users can now earn reputation points (REP) which is a digital asset in of itself. For each claim a user executes on the platform 1 reputation point is earned.
Referrals / Rewards
Another new feature is the referral system in which users can earn reputation points for each of their friend’s and family’s actions on the platform. This means REP can stack super fast for users who are using their referral links and actively helping to grow the platform. In addition to this, there is a rewards system which users earn badges for completing milestones, advancing their profile to new tiers which bring on its own benefits for that user such as reduced import and export fee savings.
The Bitswift.cash platform is awesome and you should check it out if you are not already using it ;)
Some of you may know that there is a decentralized exchange available to you directly through your Bitswift blockchain account. The p2p exchange can protect you by leaving you in control of your digital assets and we recommend you use it when exchanging Bitswift tokens or any other asset type supported by Bitswift.cash. We are happy to report that the volume has been picking up on the Bitswift markets on the decentralized exchange. There is increasing active trading happening regularly and the level of support increased on the ARDOR / IGNIS / BITS markets. In addition to this, there are now BITS/BBTC and IGNIS/BBTC markets where BBTC can be converted to BTC in a 1:1 manner through the Bitswift.cash gateway service. If you are an active crypto trader this might appeal to you, and I know we have some of those people in our community ;)
First of all, we want to thank everyone for all your support and interest over the past year. It is because of our community, customers, and partners that we continue to build on this project year after year. For all you who keep coming back around for many years, all we can do is thank you for your help, time and interest in the Bitswift projects, products, and services. With that said, let’s reflect on some of the accomplishments we have made this year together.
- Bitswift.cash 2.0 — We successfully migrated from the old Bitswift.cash platform to Bitswift.cash 2.0, Nimble. We are pleased to report that everything is now working in order and on time. We appreciate the users who moved with us between platforms and for all those who stuck around during the developments to make this dream a reality. Special thank you to those who help promote and support the growth of the platform, and very special thank you to all the developers who helped contribute.
- Remote Agents — The Bitswift.tech business, in general, has attained many new business based customers and made many new important partnerships throughout the year. We have finalized polishing out the Remote Agent product and brought on new representatives who are helping grow the Bitswift brand.
- Social — Bitswift has increased their exposure and presence through attending hackathons, meetups, events, and conferences in the space. For example, our teams attended the Hack 4 Heritage event in Kingston to develop VR & blockchain-related apps showcasing the power of the Bitswift blockchain. We also attended the Blockchain Futurist Conference in Toronto among others where we are educating and informing other like-minded people and those interested in the benefits of the Bitswift blockchain. Bitswift social channels continue to grow with ever-increasing followers on twitter and participants on the Bitswift.cash platform.
- Exchanges — 2019 was a weird year with exchanges and markets as Bitswift tokens were delisted from Bittex but then picked up by STEX.com a few months later. Bitswift survived a Bittrex delist with markets still active on the p2p exchange built into everyone’s Bitswift blockchain account and on STEX.com.
- Bitswif.tech Profitability — Partly the reason our blockchain development is can sustain itself is that it is backed by a reputable and profitable tech company. As the companies products and solution offerings continue to grow so does its customers and partners which facilitate the whole Bitswift ecosystem growth. Technology is not going to go anywhere anytime soon, so neither will the need for someone to support, educate and integrate it. 2019 was a record-breaking year for Bitswift.tech and we expect 2020 to be even better as technology is integrated ever more so into businesses and the daily digital lives of everyone.
- Forging Pool Progress- The Bitswift forging pool is an important part of the Bitswift ecosystem. It allows us to harvest the resources we require to operate our blockchain-based applications while providing our community an easy way to harvest passive crypto tokens from the token economy. While the amount of users participating in our pool year-round has stayed somewhat static, we have improved overall on the way the pool operates and optimizing it so that it is more profitable for the participants. Expect to see an increasing focus on the Bitswift pool as we move into a new year.
Below are the new rules for the pool in case any forgers out there are interested:
Forgers will now earn Bitswift tokens on top of their regular Ardor earnings from Bitswifts pool. In addition to this, the payout threshold will be reduced from 10 to 5 Ardor tokens, meaning forgers can earn rewards more frequently. To top it all off, the payout fee will be reduced from 1 Ardor to 0.5 Ardor tokens, meaning when forgers receive a reward payout they will be left with more of that hard-earned crypto. A reminder rewards execute on the 15th of each month, the same day these community updates go out. Hey, that's today!
Stats related to the Bitswift forging pool can be found here: Forging Pool Stats https://bitswift.cash/explorer/pool
There is no risk when leasing your balance to Bitswifts pool, you maintain control of your assets in this p2p economy, so why not participate with others in the community and forge on the LZLZ pool to earn some passive crypto-rewards.
Still not sure what to do? Check out this how-to we wrote awhile back, but it is still relevant, so give it a shot!:
Next Years Projection:
While we can’t predict the future entirely, we know we can create the opportunities now which will influence future possibilities. As someone may have said, if opportunity does not present itself, build a door. Here at Bitswift, we will build a few doors and a window.
Here are some of our goals for next year which will facilitate the long term health and viability of the Bitswift ecosystem:
- Added exchanges. more awareness. Greater visibility. Additional markets across many countries are on our radar for 2020. Expect to see Bitswift tokens trading in more places than ever before. Expect awareness of the Bitswift projects to exceed that of any previous years as we focus on marketing and advertising efforts for the entire ecosystem. Previously we have been focused on building some apps, now that we have some running, it is time to promote them and get people using and benefiting from them.
- More tokens. Expect the Bitswift.cash service to be populated by an ever-growing network of reputable crypto-assets for users to generate and claim. Bitswift.cash is set to connect to other crypto-networks bringing the communities together to which we may share resources and work to accomplish common goals.
- Business legs. Expect additional Bitswift.tech customers and Bitswift.tech to support an ever-growing list of major brands and companies with their technology requirements.
- Additional partners, customers, products, community. Year after year we extend on our reach of people who are aware of Bitswift and how we can help them with their technology requirements. 2020 will be no different with a focus on building community and integrating people with our Remote Agent, Forging Pool, and Bitswift.cash products and services.
- Brand visibility branded Electric vehicles. We real to get some Telsas on the road supporting and promoting the Bitswift brand and the Bitswift Tech company. Let’s face the facts, dirty oil needs to go, and Bitswift can set an example by reducing its operating expenses and switching its tech vehicles to all-electric. A fleet of reliable and reputable techs driving the Bitswift brand supporting businesses with their tech infrastructure sound pretty awesome.
- Expect our trademark dealings to come to an end. As some of you may know we have been fighting to keep the Bitswift name for over 2 years now. We received an objection letter from SWIFT in 2017 over our approved Canadian trademark on the word “Bitswift”. While this has been a burden financially, it has not stopped us at all from continuing ongoing developments of Bitswift despite the fact we were sent a letter ordering us to cease our operations. We know just as well as the opposition should that crypto-assets and the tech behind them have nothing to do with them. Read the first sentence of the Bitcoin white paper. Read Bitcoins genesis block if you want further education. We hope to come to a resolution and agreement with SWIFT this year so that we may continue supporting and educating our customers and community under the name “Bitswift” as it was meant to be for a p2p token economy operating through community and technology which has nothing to do with Banks or financial institutions.
Let’s face the facts, crypto-assets are for the people, not for the politicians or the bankers. If we allow this technology and industry to be dominated by them and implemented incorrectly by their rules, then we have already lost the purpose and the primary benefits of this new technology. Technologies like blockchain when implemented properly allow new systems of trust and transparency, excluding the middlemen and rendering old systems obsolete and this is the system we promote and support. We hope to see Bitswift ® in 2020, even if it does mean meeting certain conditions such as excluding any financial institution from using our digital token and blockchain-based products.
All in all, we are expecting 2020 to be a great year for the growth of the Bitswift brand and the ecosystem which surrounds it. We hope you all will stick around with us as we continue to grow the brand into a leading technology provider and player in the space.
Please join us on other social platforms to support the development and help the community grow.
Discord : htps://discord.gg/zRRvMHN
I would like to personally thank all of you for a great year and many more to come with Bitswift. Stay safe this holiday season, enjoy your time with friends and family, take some time off, and don’t do anything I wouldn’t do :) See you in 2020.