A Letter From Paulo Trezentos on the Goals for AppCoins for 2019
The beginning of the year is always the best time to assess all of the progress that has been made so far by the AppCoins team. It’s always useful to start by identifying where we have performed well, and where we didn’t. This is truly the only way we can learn and improve our work during 2019.
That said, I would like to highlight our top three most significant achievements, and also, mention the biggest challenges where we could have done better:
On a positive note, we as team were able to deliver on the following three points.
1| Traction On User Side
The successful integration of the protocol with the Aptoide app store and its over 200 million user base, has resulted in a very interesting bootstrap of the technology when it comes to in-app purchases and rewards for users.
As shown in APPC explorer, user adoption started to take off in September reaching a significant peak in December. During the month of December, almost 10.000 in-app purchase transactions took place, and more than 700 users were rewarded. The fact that the team was committed to achieving all of the milestones that had been set previously, and complete them in the established dates, certainly contributed to these excellent results.
2| Meeting Deadlines And Keeping Crypto Holders Updated
The AppCoins and the Aptoide teams were always able to meet the deadlines that were established in the white paper, and were even able to anticipate some of them (e.g., Ada Release). In parallel, we made it mandatory to keep the APPC token holders updated at all times. Take ANU, the biweekly update, as it has never been delayed — not even for one day — in the 25 editions of 2018. The community team and Telegram administrators have done a fantastic job. We listened to you and we acted on it.
3| Developing The Best Blockchain Technology
Finally, I am very pleased to say that we worked hard, and did a great job when it comes to developing the best blockchain technology to support the AppCoins flows. We know the APPC holders had very high expectations in what could be delivered, and the engineering team has excelled in what has been done.
Due to the difficulty of finding a balance between what is the state-of-the-art of blockchain and what the Trust needed in the app economy, we proposed a foundational Trust model, and later executed it in AppCoins and in the AppCoins Credits deploys.
Finally, the team is also glad for achieving what can be described as a maturity level of the AppCoins Wallet. The wallet has been widely downloaded from the main Android app stores (Aptoide and Google Play) and has been praised by its elegant aesthetics and user experience which allows all major operations to be performed with AppCoins, with minimum friction.
Not everything has been positive. We think we could have done better in three main areas. Read more about them below.
1|The Adoption By Android Developers Was Lower Than Expected — 57 unique apps integrated IAP in December (source: APPC explorer).
Even with a dedicated platform that could be used by the developers, the migration path was too complicated, and from the 3.000 developers that signed up to the platform, the number that released their apps with IAP was low. We identified the friction point (IAP SDK migration) and started to develop tools to enable an automatic migration. In a few weeks, we will release them together with a new way of making payments with AppCoins (One-Step Payment), as well as a rebranding of the Developers platform.
2|The Developer’s Reputation System Is Still Under Development
Creating a Developer’s Reputation System was one of the goals of the AppCoins white paper. After speaking with the Developers community, we felt that this would have to be a medium-term implementation since it needs the other two flows — In-App Purchases and User Attention Rewards — to take off first. The reason for this dependency comes from the fact that without a critical mass of IAP and Rewards, there isn’t enough information to build the Developer’s Reputation. This will be easily resolved once we reach above one million monthly transactions.
3| Brand Recognition And The Crypto Community
Reaching the crypto community was quite underwhelming given the potential of AppCoins. AppCoins is currently ranked as #400 in CoinMarketCap (Jan 8, 2019). This position is too low when we think about what can be achieved in a market that is estimated to be worth around $122 billion USD per year in 2019, with the #1 Crypto Project in Apps Billing.
We have to do better when it comes to brand recognition and reach out. This is something that our team is working towards as we speak. Ultimately, the demand created by tokens purchases (the result of the IAP curve growth) will drive our position up in CMC. This is a good goal for us in 2019.
Goals for 2019
If 2018 was the year where we developed the foundations of the technology and tested the network incentives (users and developers), 2019 will be the year of the bootstrap. Volume and scale will be guiding our efforts.
As previously stated, we’ll devote extra attention to the Developers and AppCoins SDK integration. In addition to that, in 2019, the partnership between Unity and AppCoins will kick-off with an easier way for every Unity developer to integrate AppCoins. At the same time, migration tools from Google Play SDK to AppCoins SDK will be available.
When it comes to the user experience, one of the major features that will be available in 2019 is the Top-Ups of AppCoins Credits and Peer-to-Peer Transfers. We envision that the possibility of buying AppCoins credits and then transferring them to another wallet (a wallet belonging to a family member or a friend that doesn’t yet have a credit card) will bring unbanked people to the apps economy. Today, 95% of the users still don’t buy in-app products, and we want to change that.
Finally, we’ll reduce the purchases and rewards friction flows to make sure that every Android user will also be an AppCoins user.
Thank you all for believing in our vision and supporting us! We’re all already proud blockchain pioneers, but our ambitions won’t stop here. Together, let’s make 2019 a remarkable year for AppCoins! After all, this will be the “bootstrap year.”
Here’s to an incredible year together.
Paulo Trezentos, AppCoins CEO
As always, you’re invited to follow our work regarding all of the products we’re working on: