Stamp-IT Q2 2020 Quarterly Report – July 13, 2020

Previous Updates
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ORIGINAL PLEDGES START
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-DEVELOPMENT

--Integrate Factom into existing software
------Factomize data from partner’s ”Day-to-day life and life after death” platform

--Develop and operate a publicly available cloud service, callable using developer-friendly API

--Target existing clients and contacts to quickly start projects using Factom protocol

-MARKETING

Initially, we will use our existing channels to promote the integration of Factom where it could be needed.

--Promote the integration of Factom through institutional clients
----Smart Cities
----Government
----Entertainment
----Defense and security

As our commercial revenues are increasing, we plan to contribute to the marketing of Factom on a larger scale by

--Contribute to the marketing of Factom by organizing hackathons
--Contribute to a blog and participate in commercial shows
----Crypto-conference
----Blockchain Summit

-TESTNET

--Two Testnet nodes

-OTHER

-- Upon the creation of our corporate entity, 50 000$ will be invested to maintain the Authority servers, bootstrap the development and avoid liquidating the Factoids at the start.
-- We will hire developers as soon as possible, when it is sustainable to do so.

- PLEDGED EFFICIENCY

2 nodes: 50%
1 node: 50%
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ORIGINAL PLEDGES END
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Here is the roundup of our original pledges.

Marketing:

We approached one potential partner which showed great interest in adding factom support in its application. We are currently working on a formal agreement with him.

Development:

We plan to start integrating factom support in our partner platform as soon as a formal agreement is made. We are in the closing stage.

Testnet:

We have two testnet nodes running, one in the authority set and one follower for brainswaps and maintenance.

Other:

Part of our initial investment allowed us to buy hardware and pay for the operating fees up to now. We have not hired anyone beyond the 3 founders at this time because it would not be sustainable to do so. We haven't sold 1 Factoid yet (1 month worth)

Pledged efficiency:

We are running two nodes on the mainnet at 50% efficiency.

Feel free to ask any questions, we'll be glad to answer them as best we can.
Considering the current value of FCT, Stamp-IT has retired one of its physical servers and one authority node in order to reduce costs. Accordingly, we will reduce our efficiency to 0% so that we continue to receive the same amount of FCT.

We continue to operate our physical infrastructure, with 16 cores in one datacenter. We currently host two instances of factomd running on the mainnet (one authority + one backup) and another one running on the testnet. We will add a second testnet node shortly to compensate for the recent retirement of a testnet node.
Current Update: Stamp-IT Q2 2020 Quarterly Report – July 13, 2020


07/13/2020

Quarterly report

Overview


Since our last Quarterly report on April 4th, 2020, the Stamp-IT team has contributed to the Factom® ecosystem in various ways. Our last report can be found on the factomize forum.

Here is a breakdown of what has been done along with our goals for the next few months.

Infrastructure

Last Quarter, we retired one of our physical servers and one authority node in order to reduce costs. Accordingly, we reduced our efficiency to 0% so that we continue to receive the same amount of FCT.

We currently host two instances of factomd running on the mainnet (one authority + one backup) and two running on the testnet.

As with all other operators, running Factomd authority nodes is Stamp-It top priority. We are committed to this duty and we will continue to operate our own infrastructure in a canadian data center.


Brainswap script

Stamp-IT brainswap v2.0.0 is now officially released. This version has been completely refactored. It is a lot more testable: hundreds of test cases have been automated, which will make it easier to maintain the script and add new features.

Source code and instructions: https://github.com/Stamp-IT-io/brainswap

Official release: https://github.com/Stamp-IT-io/brainswap/releases/tag/v2.0.0

Marketing and Business development

We would like to summarize the last months in terms of governance and business development.

Governance

We have been following and participating in governance related discussion whenever possible and required. In the next few days/weeks, we will re-evaluate the ANOs who have posted their quarterly report.

We also made a bridge loan of 10 000 FCT to the exchange committee to help secure a future listing.


Business development

As we stated in the previous report, we started a partnership with Laval University to support master and PhD projects with Factom technology. Our plan is to propose a specific project using the Factom protocol with the Mitacs program (https://www.mitacs.ca/en). This program is used to finance a graduated student from the cryptographic laboratory in collaboration with Stamp-it Blockchain Solution.


We have messaged a few ANOs to help us come up with a project and have yet to define it at this point. The project needs to be about 6 months long and to be started in about 1 year from now. The Mitacs program would then sponsor 50-75% of the total cost. If any of you have any suggestions of projects that could meet these criterias,please feel free to initiate a conversation with us on discord. We believe this would be a good opportunity to get some work done at a pretty competitive price by a research laboratory from a reputable University.
 
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