An Update from the Founders — 6 Months On
The 6 months which has elapsed since the conclusion of BOLT’s private contribution round has been a roller-coaster ride — a mix of excruciating lows and euphoric highs. Fortunately, we had completed our private contribution round at a period when Ether was trading at a significantly higher level; since then, the value of Ether has dropped almost 60% in value.
More than just Speculative Value
That drop in value — whether chicken or egg — has also corresponded with the reduced interest in pure play ICOs as a means to raise capital for blockchain-based projects. All too often, token value was driven largely by speculative value, where in reality a token should be measured by both utility value and speculative value. This is the pathway towards building long term value in a token ecosystem, and towards developing a new economy; one which all of us have a first-mover, once in a lifetime opportunity to participate in. The emergence of tokens as a medium of exchange to create a distributed, scalable and user-powered economy has been as life changing as the dawn of the internet.
But why did I start our Founders update with this reflection? This is because we are trying to build strong fundamentals for increasing the utility value of our ecosystem at BOLT. This, in turn, will drive any speculative value of our token by the economics of demand and supply (since 1 billion BOLT tokens will ever be issued).
More than just Blockchain Partnerships
Despite the challenging times and the bearish sentiment of the market, we did not give up on our mission. We took the quiet months of the market as a useful period to focus, persevering on building a strong foundation based on the blueprint of our white paper — and we are proud to say that much of the groundwork is starting to bear fruit.
The BOLT Team has been very clear from the start that the value of the BOLT Token is built through its utility. A substantial amount of time and effort have gone into putting in place the use cases and adoption channels for our token. More news of these game-changing partnerships, in which we have worked hard to bridge the world of traditional businesses with the new token-based BOLT economy, will be released in the next month. We promise that you will not be disappointed.
More than just Entertainment
The BOLT service has started to expand its content repertoire beyond entertainment and news to encompass gaming, education and health related content. The intention is to provide users in developing markets with a “go to” service platform for essential services. The additional repertoire of services on BOLT will give users and holders of the BOLT Tokens more use cases. The list of content partnerships will also be announced over the coming weeks when these partnerships are operational.
More than just One Continent
One of the focus of the BOLT Partnerships Team has been to expand the BOLT geographical footprint through credible business partners with a heart for the BOLT mission.
Of major note will be the official launch of the BOLT service in Kenya, which is our first stop in Africa and our hub for East Africa. After a rigorous due diligence process in Kenya, which included vetting by the local regulators, we are opening our first office in Nairobi this week. Look out for the coverage of the launch on our Telegram channel!
More than just One Source of Liquidity
While the utility value of the BOLT Token is primary, there is also recognition that liquidity and support for the BOLT Token are important for our contributors and community. Together with our advisors, we have planned and implemented opportunities and support for ensuring the liquidity of the BOLT Token. This is also in recognition of the partners within our ecosystem who will be using the BOLT tokens directly off the public circulating supply when the BOLT token is listed. We do know that these are updates are critical for our contributors and hence will make the announcements to shed light on the measures being implemented. Rest assured that we are lining up a series of exchanges to stagger liquidity opportunities.
We are BOLT — and there’s more to come
We liken the BOLT ecosystem to an interactive town-hall that is powered by video and our own token. Building a multi-dimensional ecosystem therefore requires a team that is varied in strength and untied in mission. We have therefore welcomed new additions to the team in the last 6 months, allowing us to assemble a multi-skilled roster of team members and advisors to deliver on our vision.
Today, we have over 30 people across 4 offices, hailing from some of the largest companies in the world — such as Google, Twitter, Facebook, Intel, and PayPal. Some are first-mover luminaries, some were born to be intra-preneurs within an entrepreneurial organisation, but all of us have one thing in common — to build a meaningful, global movement that is powered by the BOLT Token, and in particular, for the underserved.
So, rather than couching how BOLT has progressed in the last view months in niceties, the Founders wanted to provide a sincere account and update. This is to build relatability between our Community and our BOLT Team. As always, we will share incremental updates on our progress, and we invite you as well to share your suggestions with us via email or on our Telegram group.
It’s been a fantastic 6 months — and we are just getting started. To BOLT!
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