Kicking off 2021 with a high note — a community vote to authorize the project’s migration to the DOT ecosystem — we now set to the task of shaping the overall roadmap for executing on the BitGreen vision. The following is a set of milestones we intend on achieving in the next 10 months. As you’ll notice, these goals cover both hard tech (the migration itself, development of the payment gateway, the app) and development of the BitGreen ecosystem itself, both equally crucial for development of this global impact currency.
This is an exciting time for the world of Blockchain, and particularly for the sectors we are involved in. Crypto, DeFi, Impact: these are the fields BitGreen intends on leaving its mark on. Our community has grown larger and more committed since we embarked on our expanded vision of BitGreen as an impact currency, and we’re grateful for this support. But we also ask for your patience — this is the year of building, and long lasting impact takes time…We welcome our new members and celebrate our earliest supporters — this is a community-powered effort that can only happen with your dedication!
So enjoy the read, and please send us your notes, suggestions, requests, and anything else that comes to mind.
To DOT we go:
As mentioned above, the community has voted in favor of migration to the DOT ecosystem, and our devs are now executing on that decision. Please refer to our last post for more details on the timeline, but to quickly recap:
We aim to have a testnet up and running by March, and a full Mainnet launch by Q2 of this year. BitGreen will be a substrate-based chain with the intention of migrating to Kusama once receiving an available slot, and eventually to DOT as we achieve sufficient growth milestones.
As part of our commitment to the Web3 foundation and the wider DOT community, BitGreen will serve as one of the ecosystem’s impact catalysts. The ease of interoperability provided by the DOT system offers us the opportunity to enable all members of the wider community to earn for impactful actions, and spend with our partners. Moreover, given our immediate real-world utility — of connecting mainstream vendors and charities to the world of cryptocurrencies — BitGreen will be leading development of DOTs first payment gateway; built opensource and available for anyone’s benefit via or GitHub repo.
Make DeFi green again!
Aside from the awesome hype and money going into DeFi, the benefits this growing sector will render to the world is breathtaking. As reported by the World Bank, one in every four individuals is unbanked. And even in the world’s wealthiest nation, nearly 25% of the US population is considered underbanked. This means little or no access to basic bank accounts, interest-bearing vehicles, loans, credit scores — the basic tools for building wealth and financial resilience. The knock-on effects of financial exclusion are substantial. It translates to an inability to safely store value, higher fees on transactions, lack of access to capital, and many other symptoms that all but guarantee that one remains stuck in the poverty cycle.
As part of BitGreen’s impact mission, we intend on offering a simple and seamless onramp to decentralized financial services. It all starts with our app, a free and user-intuitive mobile wallet that allows for safe storage of BitGreen, as well as easy send/receive options, and a gateway to our ecosystem of earning and spending impactfully.
One of the main hurdles remaining to crossing the chasm of adoption is the difficulty of using cryptocurrencies for everyday transactions. As part of our commitment to the larger DOT ecosystem, BitGreen will commence work on building an Open-source Decentralized payment gateway.
This tool will allow for any vendor to accept payment for their goods or services in any cryptocurrency currently available. The buyer’s coin of choice will automatically be exchanged to the vendor’s choice of currency in a noncustodial manner. The project will likely stand as its own Substrate blockchain powered by the BitGreen developer community, in return for micro-fees on transactions, which in turn will be earmarked for funding impact projects and overall project success, as decided upon by the BitGreen community. For more details on this initiative, stay tuned for upcoming posts and AMA sessions.
Mobile as gateway to a BitGreen world
V.1 of the mobile app (both IOS and Android) successfully launched with the basic features needed for an everyday transactional digital wallet. Anyone can now create their own wallet and begin receiving, sending and safely storing their BITG.
More than a digital wallet, V.2 of the mobile app will serve as a true gateway to the BitGreen world, and your connection to the community. Members will have access to a database of impact actions — opportunities to make a difference and earn BITG for them.
Likewise, as already teased in the current version, community members will be able to discover vendors, service providers, charities and offset partners with whom to spend their BITG.
The app will be where you can access, nominate and vote on governance issues. This is where you can easily purchase BITG with your debit or credit cards, furthering your commitment to the project. Furthermore, in-app staking will be made available. Staking itself can be done offline, and the set-up will be as simple as a few buttons clicked.
Also, the app is where all impact actions taken can be tracked and displayed on your personalized dashboard, and where community-wide achievements will be celebrated on our leaderboard and newsfeed. Of course we’ll add in-app bounties, referral perks, and all the good stuff to catalyze adoption led by our amazing community.
Last — for those preferring use of a webwallet — an updated version will be made available for members who prefer.
Partnerships make the world go round
2020 has very much been a year of transformation for the BitGreen project, with an expanded focus on establishing the project’s real-world utility. We have found a clear need for a blockchain solution that can offer:
- A safe, transparent and seamless ledger to track and attribute actions taken
- A rewards mechanism that delivers real value
- An established ecosystem of partners that can provide engagement through opportunities to earn and spend good
With a few key commitments from partners already in place prior to the migration, the BitGreen foundation is building out the needed infrastructure to catalyze its partnerships and explore new ways BitGreen can add value with the added smart-contract capabilities now afforded by Substrate. Ultimately, successful partnerships will provide member growth and transaction volume that not only will drive up the value of the coin, but will also create global impact at scale. With this goal in mind, we intend on hiring dedicated team members to lead partnerships, growth, and communications. If you are interested in learning more about our openings, please head over to our job listings here.
To a green 2021
Publicly committing to plans can become a double-edged sword. The act can motivate a year’s worth of efforts, and yet breed disappointment when goals aren’t reached. Our 2021 roadmap is indeed aspirational, yet with proper support of our community, and a bit of good old luck, we aim to reach the wintry finish-line of December as a global leader in the world of impact-driven blockchain ventures.
With the tailwinds of a bull market and a rise in support for ESG in the corporate world, BitGreen is uniquely positioned to reach mass adoption. We look forward to updating you throughout the year, and ask for both your feedback and support as we progress forward.