Report Q2 2018
Dear Biotronians,
As the second quarter of 2018 concluded (and it’s been 3 months since our ITE), let’s retrospect on what was done in that time and what’s ahead of us in Q3 instead of the usual bi-weekly update.
Product
One of our biggest topics in Q2 was Biotron Data app release on Android. It is and will be a vital part of the whole product, enabling us to collect data and create analytics and insights, as well as distribute rewards to participating users. In less than a month it already attracted more than 17 000 users worldwide, which proves that there is a strong demand for solving transparency and privacy issues while monetizing users’ data. I’m personally very happy that more than 99 % of all users are crash-free, which is a major quality metric. We also worked on our backend, most importantly the data engine, along with the blockchain for reward distribution. Users who have been with us from the launch of the app already managed to earn nice amounts of BTRN tokens as a part of the onboarding campaign.
With all the data flowing in coupled with 3rd party datasets (both from our partners and open datasets) we started working on essential parts of the analytics product. Currently we’re providing custom reports based on visits, user and location profiles for a couple of companies from various industries to validate the whole process.
Marketing
Generating revenue (and thus rewarding participating users) is a key part of our organization. It wouldn’t be possible without our partners. In Q2 we signed a letter of intent with a couple of partners. Even though the progress on these projects was a bit slower than we expected, we’re moving forward and in Q3 we’ll already post some case studies.
Biotron got quite a lot of traction in media as well, with guest articles in magazines like Entrepreneur Europe, and coverage from BitcoinGarden.
As I already mentioned above, the Android app was a big success with tens of thousands of downloads. More importantly, a major part of those downloads stayed with us until now and became active users. This wouldn’t be possible without our marketing campaign focused on growing the user base.
Operations
Right now there’s a core team of 7 people working on the project, with 5 advisors with various backgrounds contributing their knowledge and experience, and a couple of external individuals and companies contracted for finance, legal, development, design, and operations. We’re also hiring two more developers to speed up the project (android developer & data engineer) and marketing manager .
Q3
So what’s ahead of us in the next quarter? In one word — product. Our vision is to make data available in a transparent and privacy-compliant way and reward users who are contributing their data. That’s what we do and will never change. To deliver on our promise we have to focus 100 % on our product — development of the app both on Android and iOS and the growth of their user bases to gather as much data as possible in key geographies. Collected datasets will be used to power our data engine to create insights and analytics, which will be sold and in turn generate revenue. And that is of course crucial to build a business that is sustainable in the long run, as well as maximize rewards for our users. Another key aspect of this is the validation of our approach and principles.
There was a lot of questions and discussion about exchanges — both internally as well as on our official Telegram group. At first it seemed a reasonable thing to do. We screened the market for viable options and started the on-boarding discussions with around 10 major exchanges. Yes, it would be good, but only from a short term perspective. Being listed on a major exchange would require to dedicate a lot of our resources — cash, tokens, and human. All of these are still very scarce, so we have to think twice how to allocate them. Because of this we will postpone the listing until it will make more sense for the project and — like I wrote above — focus on the product, and the product only. Also, BTRN is foremost a utility token — and without a product there’s no utility either.
Get in touch with us!
We’re active on all major platforms, answering any questions you might have. You’re very welcome to ask us anything on our official Telegram group. Twitter might be of help here as well. We’re looking forward to your messages.
Have a successful week!
Best regards,
Pavol
CEO of Biotron.io
