April AMA with VouchForMe co-founder Matt Peterman
Dear community members,
First, I’d like to greet all those who are with us from the start as well as the newcomers and thank you for a long list of questions. All this shows you care about the project and our platform and wish it will succeed.
The main topics addressed concern the business development, token strategy, and financials. Many of the questions repeat, and we have already answered them in our previous sessions. I will instead concentrate on the areas the token holders want more clarification on.
The first point I want to talk about today is the financials. Some members would like to know more details about the level and the allocation of the company assets. We promptly communicate about all business and development related activities, while financial statements are confidential and will remain such. What we can say is that there are enough assets for the successful delivery of the platform. Callouts to disclose the ratio between fiat and crypto assets and wallet addresses of the company are unsubstantial.
Our strategy is clear: our priority is to launch the first projects with insurance companies and partnerships with interest groups where VouchForMe concept brings the most value. In 2019 we plan to roll out first pilots.
The next set of questions relates to the token. Crypto has a difficult period, but it will come back. We need to be ready for the new period, and we plan to update the token roadmap. As we stated in our whitepaper, the token holders will have the possibility to use it to lower the price of the insurance. At that point, also adding new exchanges will be a lot more relevant.
Delivering the projects with our partners is our main priority for 2019, and the efforts of the entire team are focused there. With the launch of the first project, we will launch marketing campaigns too. However, client acquisition is a costly activity, and we will focus on efficient approach together with our partners, for the optimal use of funds.
The best way how the community can help us in this period is to spread the word about the VFM concept in the investor communities and maintain the advocates of the project, exciting times are ahead!
Now, I invite you to read the rest of the AMA session below.
Sincerely,
Matt Peterman
Q: What is the marketing strategy now?
Our primary strategy is to attract and close partnerships with insurance companies and different interest groups. We believe that a partner go-to-market is the most suitable way forward the reach broad audience.
Q: What is the nature of the partnership with Swissdacs, what is being worked on?
Swissdacs is contributing to our business development efforts by reaching out to potential VFM partners in the DACH region.
Q: I know product development is most important, but since we do have a working product, why aren’t we/shouldn’t we be focusing on marketing and spreading the word about VFM?
Since the product works best in cooperation with a partner insurance company, our efforts are focused on closing and delivering on these deals.
Q: I realize there are social media, but what other areas is the team focusing on to let the world aware of us?
When the projects with the insurance companies are out, broader marketing campaigns will be associated.
Q. When new partnership other than Swissdacs?
The business development team is working on several potential partnerships. As soon as all aspects of the agreements are finished, we will be able to announce them.
Q. What is Tom Volk up to we have not heard from him in a long while, I think last was the Charlie Shrem interview.
Matt has the operational role and is the face of the company, while Tom Volk is the co-founder
Q: Who is the new CFO?
Erik is the company’s new CFO with the focus to set up a world-class F&A organization.
Q: How many solidity programmers are working on the code?
Currently two.
Q: I remember reading that VouchForMe had an office opened. Is this still running? Can we see photos of the setup?
Nothing has changed until the start.
Q: Who of the initial team members is still active, and what is everyone doing (Matt, Tom, Max, …)?
The core team is presented on VouchForMe web page. Everyone except Erik who joined the team last was also interviewed, and all posts are still available on Medium.
Q: If VFM fails, will you redistribute like Cofound?
We do not envisage that VouchForMe will fail. Our mission is to deliver social proof-based platform, that enables consumers to get better services by vouching for each other.
Q: Is VFM making any profit?
VouchForMe is not making profits yet.
Q: Can we help introduce you to VC investors?
We do not need money, but additional funds always help. We are open to new investors as it can accelerate our growth.
Q: Is the patent still important to the project?
The patent is still important, but the essential point for VouchForMe at this stage is to launch the pilot project with insurance carriers and onboard first users.
Q: What about a bounty, get people to sign up through referral, and receive IPL to get more people on the platform?
Great idea — we certainly plan some incentive features in our marketing campaign once the IPL payments are enabled.
