Incent Update: April 2017
7 May 2017
So it’s been another big month, right?! Listing on Bittrex has changed things rather, just like many of you advised me it would, facilitating a nice run up in price to just over 20 US cents on the eve of the ICO activities we are supporting.
Anyway, they say one should never start with an apology but I am going to make two. Firstly, I want to apologise for the delay in releasing this sitrep and secondly, for its brevity.
So as some of you know last weekend I was, at short notice, invited out to the USA to work with some senior executives of a multinational financial services corporation.
“Why would a multinational be interested in Incent?” I hear you ask. Well, it’s simple really: they like that we are commerce-focused and that we’re building an end-to-end solution that doesn’t require mainstream consumers to know what a Genesis block is ;-)
So you will appreciate that this was an opportunity deserving of my full and undivided attention (so the newsletter got postponed). And you will also appreciate that it is far too early for me to be any more specific than I have been here…
…but what I can say is that we all got along very well, that this trip is unlikely to be my last and that we are all cautiously excited this end — because frankly, partnership here would change the game. Anyway, this was the view from my Adirondack as we finally wound-down, prior our return flight to Sydney; I was tired but happy…
…And the reason I’m going to keep this brief is because we are busy — crazy busy in fact — supporting 2 ICOs concurrently with ICOTech: EncryptoTel and MobileGo. Neither of these activities have been without issue and in MobileGo’s case we have, corporately, encountered significant technical challenges but we are proud that our tech has facilitated the flow of nearly $15 million into these projects, simultaneously, in just 2 weeks. And MobileGo in particular is unparalleled in the sophistication of its deposit (native deposits across 4 blockchains) and pricing models.
Why have we put ourselves under this pressure? Simple really: if we are to succeed commercially our technical solutions must be sufficiently robust to work seamlessly and securely, at scale. What better way to expose them to these demands than the cauldron of pressure that is an ICO?! In addition to which, facilitating these events rapidly increases ownership of and exposure to Incent and WAVES; MobileGo has attracted 5,000 unique investors already and is likely to complete one of the largest-grossing ICO raises of all time. All these investors will become members of the Waves and Incent communities. And finally, baking Incent into the deposit technology, as a reward for investment, allows us to support arket demand for our token — which we know you all care about deeply ;-)
Finally, I would close this point by saying that interest in ICOTech is currently ‘off the hook’, allowing us to select projects that we feel have a strong chance of success and will be of benefit to the ecosystem and holders of WAVES and Incent.
So What About Core Development?!
You’re probably thinking that with everything else going on, this has stalled. Don’t be daft. One of the key connections I cemented while in the US was Ms Jade Shyu, who some of you may know of as the UX design lead of the winning project at last year’s Money 20/20 hackathon. I have been pursuing Jade for some time now, to lead on the UX/UI of our consumer App (and if you spare the time to look at her site you will see why) and I am pleased to report that as a result of our meeting and her first conceptual submissions since, it looks like we will be doing business.
It is, of course, very early days but bearing in mind that our mobile app needs to present its end-to-end functionality to mainstream consumers, I think Jade is already on the right lines and has a huge amount to offer the project. More generally, we are getting more and more excited about the sweep of the App’s intended functionality and our conceptual focus at the moment is the incorporation of seamless off-ramps, in order to optimise the utility of Incent to consumers.
The other big news in the dev area is that we are working closer and closer with Bok Khoo, the by-now legendary Ethereum developer responsible for the first Ethereum Decentralized Exchange. Bok helped us conceptualise and code Blockswap , the first-of-its-kind application that allows a token to exist simultaneously on the Waves and Ethereum blockchains. Bok has become more and more central to our market infrastructure build and has recently moved into our Sydney HQ to work alongside us moving forward. When combined with Peter’s burgeoning Waves expertise, this gives Incent significant technical horsepower across these critical infrastructures.
More of the same this last month as we move closer to pilot programs with both the Australian Employee Incentive company and the Puntos team. We’re also working with local loyalty consultant, Philip Shelper of Loyalty Reward Co, whose team are helping us to finesse our offering to Tier Two commerce and Loyalty Providers. On the crypto-infrastructure front, we are working with Sam Lee of the Australian Crypto Exchange to get Incent listed against the AUD and we are also in dialogue with Wavecrest on the subject of an Incent branded (and app embedded) visa debit card, which like Xapo would allow holders of Incent to transact with unpartnered merchants online (think Amazon…) and over the counter.
So as you can see, it’s been another cracking month and as we continue to pull on the various threads we are taking great satisfaction in breathing life into a concept that many of you reading have, through your material support, given us the opportunity to do. We won’t ever forget this and we have no intention of letting you down.
Incent Loyalty PTY Ltd
155 Clarence Street
+61 450 967 128