An Open Letter to the Community From Shingo Lavine
Bitquence is Rebranding to Ethos
EDIT: To address the many questions we have been receiving, please go to https://medium.com/@shingolavine/common-questions-around-the-rebrand-e66e633d3120
This is an open letter to all who have been involved in this project thus far. I want to sincerely thank each and every one of you for being a part of our community — your support and enthusiasm has really made this project a reality. The community we have all built together is really unlike any other in the crypto space and will be compelling to newcomers as our project expands and grows. We have come a long way since the inception of this project and the release of this letter marks a big day for us.
The cryptocurrency market is scary and bewildering, especially to new users. Just the other day I had a conversation with someone who knew what Bitcoin was, but was largely unfamiliar with the cryptocurrency industry. The first question she asked was “Is Bitcoin Illegal?”
While this question may seem surprising to those of us who interact with digital currencies on a daily basis, that question is indicative of what outsiders see in this industry. They see Bitcoin as a tool for criminals, and cryptocurrencies as unsafe and dangerous to interact with. If people are going to put their money into something, they don’t want to worry that it may disappear.
In my article “Building a Better Story” I talked about a big problem that the crypto industry as a whole faces. For better or for worse, Bitcoin has been the face of the crypto industry which means we get all the benefits of a widely recognized brand, but also all the baggage that comes along with it. This presents a very challenging, but exciting, opportunity for us. A platform for mass adoption needs to be accessible, friendly and safe.
Making Crypto Accessible to All
We all know there is something big happening right now. Even more exciting is that we are at the ground floor of a huge shift that will define how the world looks and operates for generations to come. Yet, a majority of people are still unaware or mystified by the hotbed of innovation that is happening in the crypto industry right now. A huge part of our mission is opening up the possibilities of crypto technology to the wider world and helping consumers, businesses and developers interact with these new tools to build a brighter future.
Core Ethos Values:
Security, Safety, Trust, Knowledge & Community
It is very important for brands to stand for something. At the core of Ethos, we believe that some of these values are:
Security: It is absolutely imperative that Security permeates everything we do. The cryptocurrency ecosystem is riddled with scams and hackers, making it extremely risky and daunting to new users. By building Ethos from the ground-up to be super-secure and consumer-controlled, we will inspire confidence in the user and build a trusted brand.
Safety: While similar to Security, Safety is about making sure users can avoid mistakes and interact in a secure environment. For example, if you send money to the wrong address or forget a private key, that money can be gone forever. While we can’t eliminate all of the safety issues in crypto, we can build a smart service that tilts the odds in favor of consumer protection.
Trust: Ethos was built on the trust that early token participants had in our vision and our capacity to build a platform for mass adoption. As we grow, users will show even more trust by using our products. We will need to trust (and verify) our users. Operating in a transparent and ethical fashion will build that trust. Part of this is implementing cutting edge anti-money laundering (AML) and “Know Your Customer” (KYC) technology in the right parts of the solution, and inspiring confidence — and trust — in consumers, businesses, developers and regulators.
Knowledge: Myself, the team and community are deeply knowledgeable in the cryptocurrency market. We understand the relative technical strength of various cryptocurrency offerings, economics, finance, fundamentals and risk profiles. We hope to foster financial literacy both inside and out of the blockchain industry. By sharing knowledge widely and empowering experts to teach newbies, we empower people — regardless of whether they use the Ethos platform or not. Education, learning and knowledge sharing is core to the Ethos brand.
Community: Community is at the core of Ethos, and can continue to be a strength as we grow. By having brand advocates, people who believe in our mission and want to be part of it, we multiply the power and reach of Ethos thousands of times over. We are all working towards the same mission and share in the success of the Ethos vision. Every person who joins our community makes us stronger and shows the world that cryptocurrency is real and here to stay.
A New Beginning
We are excited to embark on this journey. We anticipate many challenges, but also many rewards for Ethos and our community. To read more about our products and services, visit Ethos.io or read our whitepaper.
Thank you for reading, and we hope you join us in our mission to make the world a better place with the power and freedom of cryptocurrency.