Update on Pledges

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-LEGAL STRUCTURE
--Create a for-profit company (SAS structure) responsible for running the servers, collecting the Factoids and using the resulting revenues to promote the Factom protocol. It will also funds the HashnStore Foundation.

HNS: The process of the creation of the SAS structure has been launched as soon as results of the round 1 have been known. The SAS has formally been matriculated since the 9th of July 2018 with a beginning of its activities registered on the 30th of May 2018.

--Create a non-profit organisation, a francophone association (HashnStore Foundation), used as an interface for interested parties.

HNS: the non-profit organization has not been created. For now, we have used the for-profit structure to communicate with interested parties (for free). We question ourselves about the value of such an association for now as the awareness around the protocol is limited in France. We do think we need more exposure through the for-profit to start such an association which is really simple to create (much more than a for-profit). But with limited potential members in the short-run, there is no necessity to create it. On the long-run, the for-profit could be even sufficient to organize Hackaton for example once we have enough resources.

- FINANCIAL MANAGEMENT

-- An initial funding of 8000 euros provided to the for-profit organisation.

HNS: we have deposited 7,500 euros at the bank in May. 8,000 euors was not possible to get the exact same number of shares between the 3 associates. We have chosen to deposit a bit less as we spend much more than 500 euros to start set up the infrastructure before the SAS Company existed due to administrative process delays (Renting Cloud dedicated Servers in April and May, Purchase of one server, Administrative costs to set up the company…). The total excesses largely the 8,000 euros.

-- A minimum salary of 1000 euros/member for each full time position.

HNS: As of 16 November 2018, no salary or similar remuneration has been paid to the members.

-- Factoids sold to cover expenses and then 15% of the remaining factoids sold in euros to provide some hedging.

HNS: We do not want to communicate too much on any sells to avoid any juridical issue but the coinbase address and the factoid value speak for ourselves.

-MAINNET
--Three mainnet nodes

HNS: We have dedicated 4 Mainnet nodes to the protocol.


-TESTNET
--Four Testnet nodes

HNS: We have set up and declared 4 Testnet nodes in September 2018.

-MARKETING
--Lobby the Factom Protocol straight away to influent and interested deputies

HNS: We have contacted 3 deputies. One answered and asked us to participate to a consultation about Blockchain Technology through a written contribution. Another accepted to give us institutional contacts to explain the benefits of the protocol in certain areas.

--Organize dedicated meetings with target companies in favoured sectors (Supply chain, Luxury, Banks, Insurance, Wine, Data security) and startups to promote blockchain technology and the Factom protocol

HNS: We have organized such meetings with big companies and start-up. One company is a public listed energy utility, another one is a consulting group with Blockchain skills and others are more start-ups (3 of them). The goal was to explain the benefits of the Factom technology. Other companies or institutions will be approached on an opportunistic basis. We are also participating in different conference and events: we will participate in a meeting in Vienna in November to present our approach for the smart grid project using Blockchain (see https://www.thedistributedenergyresources.com/ - our logo is on the website). Many participants are representatives of big utilities. We also have participated in many events in Paris (http://innogeneration.bpifrance.fr/, https://theblockchainday.com/, and several regular meetings : CryptoMondays, Blockchain Café, Les lundis du legal crypto).

--Translate Factom material in French and make it available through a website

HNS: We have translated the White Paper in French. It is available on our Website and Factom Inc’s Github. For now, we do not plan to translate more documentation as our resources are limited and we dedicate them to the development of solutions and use case research (e.g. the Smart Grid project). However, we plan to write a short French technical tutorial about how to use Factom APIs.

--Provide technical support for any interested party willing to implement the Factom Protocol
--Educate future elites through conferences, dedicated courses on the Factom Protocol and workshops.

HNS: We have explained the Factom technology benefits to a research institute we are working with now through a student project of a French engineering school (EIFER and a team of 5 students from the ECE school ). We have presented the Factom protocol and its use cases in a French business school to an audience of students, professors and professionals on the 23rd of October (Event Link).

--Leverage French schooling relationships in engineering, business and Alumni networks

HNS: All the previous contacts have been gotten through business and Alumni networks.

--Subsidising the development of proof of concepts by students

HNS: One PoC is being developed as mentioned earlier in the energy field.

--Relay Factom related news to top newspapers (LeFigaro, LeMonde, TechCrunch, bitcoin.fr, etc) through paid marketing and existing relationships.

HNS: we have published an article on bitcoin.fr (a famous French Blockchain Website). We have contacted several other newspapers and websites but did not get favorable answers except from one only accepting a paid article. Due to the very limited resources we have for now, we refused this proposal.

-OTHER
--Publish transparency reports on a monthly basis

HNS: we did provide a monthly report and since our last release in September we decided to publish Quaterly reports. It is released on Discord and available on our website.

--Report every sale of factoids, investment, partnership or expenses on the website

HNS: We do communicate on partnerships in our report. Communication about sale of Factoids or expenses has been quite a hazardous proposition with the benefit of hindsight due to potential juridical issue. These are strategic information no ANOs should share.

--Define a roadmap for goals and report achievements.

HNS: Achievements are reported in our reports. Again, some steps forward can be shared with the community in a safe manner but with the benefit of hindsight the whole roadmap will be only shared between the associates due to strategic reasons.

- PLEDGED EFFICIENCY
2 nodes: 50%
1 node: 40%

HNS: this pledged efficiency is fulfilled from our onboarding date.

NON-PLEDGE WORK
Outside of this pledge scope, we are working on more stuff...
 
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