The Next 10 Years of Fetch

Enabling Economic Freedom via Cryptocurrency

Economic freedom is the fundamental right of every human or business to control his or its own labour, property and the ability of people of a society to take economic actions. In an economically free society, individuals are free to work, produce, consume, and invest in any way they please as governments allow labour, capital, and goods to move freely, and refrain from coercion or constraint of liberty beyond the extent necessary to protect and maintain liberty itself.

Cryptocurrencies are the by-product of Cryptography and Economy, some of the results of this new economy is its ability to preserve rights for real estate, intellectual properties, assets, music and other ownership. The fundamentals of cryptocurrencies also enable free and open trade, freedom of corruption, the ease of starting new businesses, and currency stability. Therefore, we believe that an open, transparent and fair protocol for money will inject economic freedom, create more innovation, and equality of opportunity in the world, just like what the internet did for information.

How are we going to achieve this? What would an economy built on principles of fairness and sustainability look like? How do we model it; where is it emerging; how do we collectively strategize to fully implement it? Where do we start?

We will start with revolutionizing finance in an open economy first. However, establishing, enabling or changing an existing financial system in an open economy requires a large number of people or participant to improve the value of a good or service within that economy. Every transaction in the new financial system will require a large volume of sender and recipient who are willing to use the new system.

The current market value of all cryptocurrencies is around $200 billion; the total value of M1 in the G20 economies is $31 trillion. If we fully replace fiat money with cryptocurrencies, a $31 trillion profit will be transferred to a handful of crypto-speculators, equivalent almost to the annual GDP of the US and China combined (at $34.5 trillion). That is the upper bound; private cryptocurrencies may end up coexisting with fiat money, so the market value of cryptocurrencies may end up being somewhere between $200 billion and $31 trillion.

Thus, the strategy is similar to that of Coinbase, a company leading the revolution to create an open financial system to the world. The primary focus is to increase liquidity in the economy by flooding in new money which directly increases the crypto market capitalization, followed by creating and increasing the economic activity within the economy by creating opportunities and new use cases, finally connecting the dots by stimulating and fuelling the rise of crypto native industries to sustain the economy. In these 3 phases fetch will ultimately enable a whole new economy or Crypto-Economy.

Fetch will ultimately be built with blocks like Lego. Where each service in each phase are blocks that stacks and latches on to the core block of the system completing the entire go to crypto eco-system.

Phase 1.

This phase starts with identifying and establishing regions. Analysis of survey data shows that Bitcoin has exceptionally high rates of usage in countries with low economic freedom, supporting the argument that crypto is sound, unstoppable money. However, establishing or deploying services in high economic freedom countries like Singapore and most of South East Asia with relaxed regulation and compliance requirements, allows quicker public acceptance and speedy onboarding which in return assist us in spearheading our mission.

To begin with, we will need to become the go-to place to acquire, store and invest cryptocurrencies. Thus, our primary implementation is to draw new users into the cryptocurrency space via the initial use case of investment, or market speculation without compromising the incremental benefit gain of each user participating in the system. The strategy will also include drawing in speculators which are already existing in the market. This will create the critical mass of people required. The value of a simple service goes up as the number of users goes up.

Footwork leading to Critical Mass;

I. Step one, a bank in every pocket. We leverage on all pre-existing smart phones users by providing cryptocurrency authentication applications for free to all users. This software stores private and public keys, interacts with various blockchain to enable users to send and receive digital currency or monitor their balance through a clean and intuitive interface. The objective of this wallets also extends to the safety, security and accessibility of one’s asset at any given time. The results of this are Fetch Wallets.

II. Next, we will have 2 services to simplify the process for consumers to invest or speculate in digital currency. Building a retail broker, FetchPro and retailing an offline Fetch Crypto Gift Cards. The key differentiators for this product are trust i.e. security, compliance and ease of use i.e. simplified onboarding, access to convenient payment methods and a physical product to entice the old school participants. These key steps will allow more people to own digital currency, especially non-techy people and the mass public eventually.

III. Then we build FetchPrime, an order book exchange that will enable professional traders and institutions to trade digital currency. This will support the investment use case in step two, but also scale it by driving larger trading volumes. More liquidity in the markets will reduce volatility of the underlying assets, which is important to enable the payment network. The differentiator for this product will also be speed of execution, security, compliance to encourage larger, traditional investors to enter the market.

IV. In the final step of Phase 1, we would expand the functionality of our wallets to a more robust asset storage system by FetchCustody as larger investor or institution will require a depository exercise by the exchange for the safe keeping of or in behalf of their assets. These custody service wallets will extend not only to institutions investors but also to retail crypto “hodler’s” who are holding tight to their newfound financial success.

In the initial part of Phase 1, we attract new users through channels such as referral programs, SEO, and adding easy to use payment and on boarding methods. This combined with the retailing of Fetch Crypto Gift Cards at >1000 outlets and >100 distributors will build traction towards critical mass. With 100K monthly active users or more, we can consider a sufficient critical mass to exist for the later development within the phase. Licencing and compliance are also mission critical at this stage.

In part iii and iv of Phase 1, we will on board new institutional traders largely through business development and sales. Our definition of critical mass here is approximately the daily trading volume of several large publicly traded companies, or $5B in daily trading volume. This process falls back to the region selection as these on boarding traditionally occurs only in an open economy region.

Phase 1 is anticipated to take 3–4 years, achieving >1M users over 5 countries while core services may extend to as many as 20 nations. Size of opportunity > $100M. Market Cap > $1B.

Phase 2.

1. Here, we will create a mass market consumer interface for people to start getting value from the payment network of merchants and dealers. Now that a critical mass of early users has been drawn in by the investment use case, the industry is ready for its for millions of people otherwise only vaguely familiar with its potential and promise. This product, Fetch Payments will make it dramatically easier for consumers to use digital currency as a payment network, and for developers to build applications that utilize the payment network.

2. Next, Fetch Remittance. With developing countries in the SEA accounting for $131B of the $700B total global remittance. Mass conventional remittance structure may seem obsolete in the new crypto economy. With 90% cost saving and 90% increase in speed efficiency. It is the best use case implementation of the mass digital consumers to explore and utilize this service. We will see an explosion in this space.

3. The process continues in creating new opportunities to earn crypto via private, FetchToken or stable coin staking. These implementations primarily introduce new liquidity to the market while welcoming new market participants, the under-served or unbanked who are unable to exchange their fiat with cryptocurrency. New opportunities increase within the economy with FetchEarn where the new market can earn their way into the economy.

This phase is once again a consumer product, and we will drive adoption through a two-pronged approach. The first part will be on boarding consumers who are already invested in digital currency from Phase 1, as our initial user base. They will evangelize the product because it has the potential to make their digital currency investments go up in value. The second part will be drawing in new users to the payment network. These will be people with the greatest pain point as mentioned in point , who are under-served by the current financial system (such as in developing countries). Our target is to reach 1M monthly transacting users in this step.

Phase 2 is anticipated to take a further 3–4 years, >100M users over 50 countries while core services may extend to as many as 100 nations achieving market Cap of >$100B. Size of opportunity > $1B.

Phase 3.

We’ll invest in, partner with, or build a number of new applications in this space, including replacements for many of the services people use in finance 1.0. Some examples include lending, loans, fundraising, venture capital, escrow, and more.

Here, each app or company will have its own go to market strategy, ranging from traditional consumer strategies to b2b strategies, driving the ecosystem to 100M monthly transacting users and beyond.

In conclusion, all listed are framework which in turn acts as our strategy for accelerating the world’s shift to a new economy. When we’re successful, it will accelerate the pace of innovation in the world, create more economic freedom, and provide financial services to billions of under-served people.

What do you think? How can you help? Give us your feedback in the comments below.