WE ARE BACK!
HELLO EVERYONE!
As you can see, our last publication is from more than 1 year ago and that is why I will write this publication in the first person.
Given what happened with the project and the global context that we had to suffer during this 2020 (COVID-19), today I want to tell you that, despite this, we have been taking important steps in those aspects on which we were able to focus, dedicating the time necessary to finalize these stages in a definitive way.
Before continuing, I am going to show you (remind you) how the project is composed in its entirety and then yes, give you the current of each one of them and how we will move forward from here on.
A LITTLE HISTORY:
In its original conception, SCAVO would carry out sustainable crypto mining operations and then, once operational, it would begin a process of diversification in secondary operations, aimed at improving the profitability of the entire company (sale of surplus energy generated, payment platform and exchange crypto-assets, among others).
For this, an ICO was carried out, which, strictly in numbers, was successful since it was within the expected parameters; however, the underestimation of the KyC process, added to some unforeseen changes in local legal aspects, forced us to reimburse the operations carried out to all those investors who had not passed the KyC process, as well as those who decided to withdraw voluntarily, beginning the inevitable (?), inexorable and consequent failure of the project.
From there we decided to try to move forward with the project and each step we took only made the situation worse.
After many meetings between the members, we decided to stop everything, analyze each situation, rearm ourselves and see how to resume the project, once we were clear about the whole process.
During all this time, many community users left, others were upset leaving the project, and only a few are still standing firm, hoping to see something positive from this project.
It is completely understandable, given the situation; However, today we are already established and with the firm decision to tackle this new stage together with 2021, which will surely be more than interesting.
THE SCAVO TOKEN:
In its concept, the SCAVO token was created for use in mining farms, through which the holder would redeem the tokens for the exchange of the hashpower or using it as a stake holder, receiving profits periodically as a result of the operations of crypto mining.
Based on the different approaches that were given in the project, it was intended to adapt the use, and its own purpose, to these changes, resulting in its uselessness today; such is the case that it is not listed on any exchange platform.
In other words, a token without use, without value, without meaning.
THE COMMUNICATION:
We were very bad communicators! A great shortcoming on our part was the lack, null, inconsistent and little opportunistic communication of the important news of the project.
Undoubtedly, during the whole process, we could never improve this important aspect of the business, COMMUNICATION.
As you may have read up to here, I am literally telling you what the current situation of the project is, without makeup of any kind. Something that the entire community already knows, but it is always necessary to remember where we are starting from.
SO, WHAT’S NEXT?
From this point on, I want to tell you how we are going to proceed, with some aspects that we have already defined, but not before indicating that we will dedicate a specific publication to each of the most relevant and / or extremely important topics, in order to be able to make explicit in details, not to redound in information and for greater transparency so that you can follow the progress.
As I mentioned at the beginning of this publication, during this 2020 we have been able to advance in various aspects of a legal nature, closing agreements and contracts to develop the payment platform business units -SCAVO Payments- and exchange platform -SCAVO Exchange-. Some of these agreements include being able to operate with credit cards, automated bank transfers, agreements with local aggregators to have a presence in +5,000 POS in Argentina, the possibility of making recurring payments and more!
SOME DEFINITIONS:
Based on the aforementioned and by virtue of the degree of progress that we have achieved in this time, with regard to the development of the different platforms, we agree to move forward with the 3 business units. This is not arbitrary since two of them, SCAVO Payments and SCAVO Exchange, are in an advanced stage of development and fully integrated with each other.
Now, with respect to crypto mining farms, SCAVO Farms, we will approach this business unit in a completely different way from how it was tried to do in the beginning so that those who invest in the farms, can have mechanisms that allow them to anticipate their return investment in a simple, transparent and predictable way.
As the subject in question is of utmost importance to both the community and us, as it was the reason for which this project originated, the next publication will address this subject in full.
In accordance with our proposal for each of the business units, it was necessary to address the SCAVO token. Given this, questions such as:
- Should we continue on the Ethereum platform?
- Is there any other platform that allows us to adapt the needs of the payment platform?
Therefore, during these last months, we have been analyzing different alternatives to tokenize the operations and services of each one of them, as well as financing the project in a sustainable way, after this stage that we will begin shortly.
After having considered the pros/cons of each solution analyzed with the team, we decided to move forward with our own Blockchain, adapted to our needs.
This then leads us to ask ourselves: How will we proceed with the existing SCAVO tokens? The answer, although obvious, is that we will carry out a massive swap of all the existing tokens for each of the holders of the new Blockchain.
The how, when and the exchange rate will be explained and detailed in a specific publication for this purpose in line with the above.
Having defined the basic guidelines to be able to start the operations of the company again, I want to tell you that, during the next few days I will be publishing a detailed detail of the 2 important aspects which refer to the crypto mining farms -SCAVO Farms- and the specifications , characteristics and integration of the company’s own Blockchain.
FINAL WORDS
Starting operations again won’t be possible from one day to the next one, it will require time and a lot of patience, YES more than you have had until now, but our commitment from the beginning was to continue with the project, because we believe that it is good prospectus, which in fact investors believed at the time.
Now, on behalf of the SCAVO team, we want to thank you for continuing to stay with us and we ask that you continue to provide your support as we are going to need the entire community.
Now, it is time to work harder!
Please stay with us, we will post the following:
- SCAVO Farms
- SCAVO Blockchain
Find us on Telegram: https://t.me/SCAVOTech_English
Follow us on Twitter: https://twitter.com/SCAVOTech
Like us on Facebook: https://www.facebook.com/SCAVOTechnologies
Best wishes for this 2021!.
Guillermo
