API3 Enterprise Development Report, September/October 2021
This is the second progress report for the Enterprise Development team — DAO Cycle #4.
Over the last month the Enterprise team has been advancing its engagements with larger fortune 2000 companies. Since the lead cycle is longer than your typical sales cycle, we have been continually building out existing enterprise relationships, seeking new interactions and bolstering strategic initiatives that add organizational-wide value across team verticals.
In this month’s progress report, new and existing relationships will be mentioned, conferences attended and partnerships formed. There will also be an update of upcoming developments as this relates to streamlining internal and external interactions.
The second month of the cycle was focused on solidifying existing interactions with large market data providers, insurers and a well-known weather provider. There has been movement on our interactions with large market data providers, as we inch towards solutioning their requirements. We have a secondary interaction with the well-known weather provider to discuss potential requirements and next steps.
The Enterprise team also secured partnerships with five Enterprise-Grade implementation partners.
The below are implementation partners that form part of our network.
● Accubits (Development House)
● PixelPlex (Development House)
● Vacuum Labs (Development House)
● SoluLab (Development House)
● Otonomi.ai (Parametric Insurance Products)
Implementation partners play an important role when it comes to developing smart contracts and dApps for enterprise customers. API3’s role is in providing solely first-party data oracles — thus, having partners that can provide complementary solutions and build out the dApps and smart contracts closes the resourcing and skills gap currently experienced by enterprises. This allows a dApp or smart contract solution to be powered by Airnode so that enterprises can ubiquitously connect to Web 3.0 via the API3 infrastructure-as-a-service data oracle.
The Enterprise development team virtually attended the Messari Mainnet Conference 2021 engaging in some successful lead generation and calls with a global top 5 asset manager, a crypto data provider and some dApps that focus on perpetual-based products.
The Open Bank Project
API3 has a long-term partnership with the Open Bank Project (OBP). Through this partnership API3 is working with OBP and Banco Hipotecario of El Salvador on a hackathon to help develop blockchain products that could increase financial inclusion for the bank’s customers. This is a massive feat for the teams involved. The API3 OBP team spent some time with OBP in person to set-up the logistics for the Hackathon taking place in November and December for this specific purpose. There will be further Hackathon details to follow on our social media channels.
API3 and OBP will also be presenting virtually at the API Days London Conference this week on Smart contracts and Insurance, Decentralized APIs for a decentralized World and the link between TradFi (Traditional Finance) and DeFi (Decentralized Finance).
Over the next month — October into November
October brought with it an acceleration in follow-ups as the team reinforced weeks of prior interactions with the goal of closing these enterprises before the end of the year.
The Enterprise development team virtually attended the Pan European Assiom Forex Conference that involved the Central Bank of Italy (Banca d’Italia), large Italian banks and their blockchain ambitions. API3 and OBP will be exploring this opportunity further over the next month.
Additionally, in October the team will be attending virtually the Digital Asset Week London that focuses the institutional adoption of digital assets, covering the full spectrum including technology, crypto, and securities.
October also brought an opportunity to initiate a conversation with a large European Government Technology Implementation Agency. This is still in early phases, and we will update the community as more serious steps take place.
In early November, API3 will also be face-to-face at the Solana Breakpoint Conference to engage with enterprises, venture capital funds, developers and the Solana ecosystem. API3 is a blockchain agnostic data oracle provider. Currently API3 will support Ethereum (EVM) compatible chains but in the roadmap, Solana compatibility remains a key priority. Thus, focusing on building-out these relationships still remains of dual importance.
In relation to ISO27001, we are in the final viability-study stage to decide if this would be feasible to pursue given the checklist requirements, costs and likelihood of success.
Furthermore, the previous exploration of a large cloud provider integration is nearing decision-point. This will indicate whether this will be pursued over the next few weeks or when the Airnode beta version is live. At this stage, it may be a more optimal timeline given some of the cloud provider requirements. The team is scoping some final documentation requirements at this initial phase.
Already thinking about the next DAO Cycle #5
As previously mentioned, there has also been a shift in the organizational needs to drive holistic value. The Enterprise development, dApps and Platforms and API Business Development team will become one. That is, under one banner but with a holistic value-driven approach to business development.
In the next DAO cycle, this consolidation will be focusing on DAO-wide business development in order to link enterprises/APIs to dApps to create a value-driven and synergistic approach to adoption.
Is your company looking to build on Blockchain?
I want to thank the community for reaching out to me directly with opportunities. Please keep this up as there is no better introduction to enterprises, dApps or APIs than through existing ecosystems!
If you are an enterprise looking to explore and delve into the blockchain space, we would be more than excited to do a use-case exploration session to see if we can work together.
Reach out to us at the following email address: email@example.com or you can also reach the API3 team on the API3 Discord and Forum!
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