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 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.
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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