Business update, team increase, efficiency update

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  1. We are lowering our efficiency to 20%

    De Facto has being dedicated enormous efforts for the benefit of the Factom for more than 1 year — even from the time when we haven’t been an ANO.

    * We have launched:
    Monitoring tools for Testnet
    — Entry Credit Stores (press release)
    — Factom Robot on Telegram (press release)
    — Open Node (press release)
    — Our BaaS flagship solution — Factom Enterprise API (press release)
    — And, of course, Factom Open API (press release)

    * We have 1 medium-size client onboarded and continue working on attracting new clients and onboarding them.
    Since May we change the strategy and dedicate more resources to sales and marketing (see below for more details).

    * In addition to all development works, De Facto has actively participated in most of governance discussions, votings and elections.

    * Since May we have also started working on improving of Factom Protocol Website as a part of Website Committee.

    * There are our quarterly reports:
    Q3 2018 report (covers September 2018 only)
    Q4 2018 report (October — December 2018)
    Q1 2019 report (January — March 2019)

    We decided to lower our efficiency to 20% on May 23.
    Additional FCT revenue will be put towards expanding our team and onboarding new team members — see below for details.

  1. Business update

    We decided to focus on the following activities:

    Integrate Factom into existing mass-adopted software via partners (in addition to direct negotiations & onboardings of clients)
    Reach large corporations via business accelerators (incubators)
    Get incorporated in second jurisdiction to start working with Europe & US
    Continue developing & supporting open-source and community projects: Factom Open API, Open Node, Testnet Monitoring, LoggerHead, Factom Name Service and etc.
    Improve, maintain & translate Factom Protocol Website instead of creating a separate website for Russian community

  2. Team increase

    We have started (and continue) increasing our team to grow faster and provide more usage, clients and products for the benefit of the Factom:

    1. Sales manager was hired recently to pitch Factom to Russian enterprises and partners
    2. We are interviewing full-time backend developer (web/software) to help us with all current works and launching new landing for Russian clients. Additionally, I will probably put his skills into Website Committee works.
    3. Our support manager (for clients) continues working part-time
    4. We are considering about hiring full-time Golang developer to work on Factom Core (grant funding)


  3. Work with international clients and partners

    We want to start working with international clients and partners within 1 year and actively exploring the options of being additionally incorporated in the second jurisdiction.


  4. Open-source and community projects

    We are going to consistently continue developing open-source products on top of Factom.

    The most important project is Factom Open API – we recently provided the Factom Open API roadmap and part of works in the roadmap will be made from our ANO income (not grants).

    Factom Open Node decentralized monitoring is half-way done — factomd improvements, required for implementing new monitoring, was scheduled in the one of next releases of factomd.

    LoggerHead — tamperproof logging solutions — will be released within next few weeks and we are going to work with Marketing Committee in order to promote it.

    Factom Name Service was initially proposed by us in November, but it requires more formal specification (FIP) and Identities support, which I hope will be released soon. After this we are going to work with other ANOs on more formal specification and implementation of Name Service.

    Factom Testnet Monitoring is being refactored to collect more data via diagnostics API.

    Additionally, we have a trump card up our sleeve and a secret open-source project (and also free to use) will be launched soon — in order to promote Factom protocol among Apple users.
 
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