Updates: Progress on Roadmap, Development and more
Welcome to our new blog post, as we update you on our Roadmap changes, Business Development progress, Commercial activities and the iXledger team.
It has been exactly 3 months since we completed our token sale. As hinted on our forums, we are behind in some aspects, notably in terms of our UI functionality. The main reason is our troubles of finding candidates who are the right-fit to join the iXledger team. We currently have 3 open dev positions we are aiming to fill quickly. We are roughly 4 weeks behind schedule.
Roadmap Timeline Changes:
1. Product video to demo our first version will be published Friday 20th October, 2017.
2. Full MVP is scheduled for the end of December. This is the version which we will use to demo the product for potential clients.
3. On-boarding of our first 10 clients. This is by far the most challenging and uncertain activity for any start-up, and we deserve some flexibility on timeline and exact numbers. We are having some very promising discussions and are seeing great interest in our offering. Our aim is to start this for Q1, 2018.
The product is coming together really nicely despite our setbacks. The team is working hard at bringing all the various functionality together across blockchain, services and UI.
With the expertise of an insurance SME working full-time, this is tremendously helpful and many of the details are now clear, especially around product and process definitions.
Our key areas of focus are:
- IXT: Integrating our tokens seamlessly in the user experience as well as our smart contracts.
- Data Privacy: There are products and solutions that have solved this using different approaches and we are evaluating some of them.
- Business Processes: We are trying to strike a balance between having the right data and integration features on platform and still not providing too much of a specialised application.
Partnerships and Commercial Traction
Our main push is to align our initial version of the platform to a specific market. We hope to be joined by advisors from this market shortly. As we see it, 80% of our platform is fairly generic, and to reach the finishing line with what’s remaining, we are obtaining greater insights in the market for the commercially viable product. We will announce the exact market in a month or so when we have reached an agreement. This is a fairly small market, with simple products. It is currently suffering from inefficiencies and friction so it’s crying out for a digital and modern marketplace.
As we grow into additional markets, we will need to model new products in additional smart contracts, but a lot of the core functionality stays.
We are having conversations with various consortia and third-party vendors. I met with Stephan Karpischek, Co-founder, Etherisc, last month, and will start exploring potential ways to collaborate. It might be technology oriented or commercial, we will see!
Company and People News
Our New York office is being established by Cristina Dolan, President & Co-founder, with a small team initially. Once the product is ready, we will make full use of our networks and local office in the US to get traction quickly.
We are speaking with a small number of brokers interested in participating in our MVP working sessions to assist us on the brokers’ perspectives on our platform. A reinsurance broker will join us who will have the opportunity to engage on this.
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