Weekly Report

March 10, 2018

This is the second in an ongoing series of weekly updates that we will be providing our community. In time, it will be extended to cover a wide range of topics and as a forum to answer questions received. If you would like your question posted and answered here, send your question to cto@bezop.io.

Today, we’ll be providing updates on the following activities:

· General Announcements
· Support
· PR
· Bounty Program
· Contributor Questions
· Product Status and Performance to Roadmap

Announcements

Following a recent meeting between Bezop and HITBTC teams, we are temporarily taking the transfer features offline for a period of seven (7) days for a service update; however, trading on HITBTC will continue as usual. All token holders are advised to refrain from transferring BEZ to/from their HITBTC accounts from the time of this announcement until the 15th of March. Your cooperation is appreciated.

Support

Hopefully, many of you are beginning to see the impact of support changes we’ve made. This past month, the support team handled and closed over 4,000 tickets. While there are still improvements to be made, overall, we believe things are moving in the correct direction.

PR

We are still actively interviewing PR teams. Actually, in many respects, it’s turned out to be more than just PR as the teams we’re interviewing cover a wide range of functions from managing market makers to PR, social media, and investor outreach. Our goal is to try and have a team in place within the next one to two weeks.

Bounty Program

Reminder, if you participated in the bounty program and have not been paid, submit your proof of work to admin@bezop.io and following a review by the staff and upon approval, your claim will be honored and paid.

An Investor Question

Why has the circulating supply dropped by 11 million tokens?

First, some definitions:

Circulating Supply is the best approximation of the number of tokens that are circulating in the market and in the general public’s hands. This is a calculation done by the reporting entity and will rise and fall based on their best estimation as to the amount available and in circulation.
Total Supply is the total amount of tokens in existence right now (minus any tokens that have been verifiably burned). Total Supply is generally determined by the developer; although, estimates are often given by listing exchanges or reporting agencies like CoinMarketCap as an “estimate” to include total tokens mined, as well.
Max Supply is the best approximation of the maximum number of tokens that will ever exist in the lifetime of the cryptocurrency. Max Supply is generally determined by the developer.

As no BEZ are currently being mined, as yet, the total supply of BEZ is 89,267,250. The circulating supply, again, is a number estimated by the reporting group and will rise and fall based on this estimation. The current estimation of circulating supply of Bez as given by CMC is 42,129,450.

Now, why CMC’s estimation has dropped 11 million to roughly 42 million, we don’t know precisely. Here’s what we do know. Circulating supply as a number will always fluctuate and is the best approximation of the number of tokens that are circulating in the market and in the general public’s hands. Our best “guess” is that the drop is some kind of “correction” in their estimation.

Product Status & Performance to Roadmap

While I am not at liberty to report a great deal yet on the product, what I can tell you is that the almost exclusive focus of the team has been on product development. We recognize that the quickest path to “correcting” our performance in the market place, at this point, is going to be through our execution against our Road Map, and, to a great extent the efficacy of our product upon release to market.

For this reason, almost all of our resources, effort, and focus has been on our product. Now, referencing our Roadmap, I can report that we are on plan. The two closest upcoming events on our Roadmap are the Standard Wallet Release this month and the release of our DOM in the June/July timeframe. We will meet both of these targets per our Roadmap and, perhaps, more.

Summary

As a team, we are focused on two critical issues — getting the value of our product raised and staying on plan. We realize that our ability to either meet or exceed our plan will contribute greatly to the “markets” belief in Bezop as a viable competitor in the market. So, let’s talk about that for a moment. In the traditional markets, and as I discussed last week, the contribution of market makers to the overall stability of the market and the stability in the “value” of a share, or in our case, a token can’t be underestimated. We are accessing this now and determining the best path forward. Additionally, the overall value perception of an Apple or IBM, for example, is based on the market’s belief in the products, roadmap, and performance of the team. Bottom line, the more you believe in us, our product, and our ability to perform, the higher the value of our product and the services we provide. We have to “fix” the market’s belief in our product, our roadmap, and in our team and our team’s ability to execute. What better way to do that than to say what we’re going to do and execute on what we say. That’s exactly what we intend to do. Mark my words, I expect that you will see a marked improvement in that belief in the coming weeks. I will end this week’s report with one final comment. We cannot do this without you — our existing contributors. If you want to see a marked increase in the value of your contribution, we need your help. In the next few weeks, we will be poised to open up dramatically what I am able to report here. When that happens, that “big” announcement that I’ve talked about…we need you to really open up in social media regarding your belief in Bezop. Don’t misunderstand me, I am not asking you to do anything you don’t believe in, but I think in a few weeks, we’ll reignite the interest and the excitement in Bezop and we just need your help to take it viral. Thanks.