It has only been a little over a month since the release of Syscoin 2.1 and we’ve been working harder than ever to increase Syscoin’s usage. We’ve been working towards one of our goals of educating the masses on everything Syscoin can do- beyond just marketplaces while still continuing to build out marketplaces which is one of our more mature use cases. This begins with exploring potential partnerships with organizations that have approached us (as Blockchain Foundry, Inc.) and providing blockchain-based solutions applicable to the challenges they are trying to solve within their particular industries with a focus on leveraging Syscoin to solve those challenges. Syscoin is no longer just a decentralized marketplace, messaging, and payment platform; with the robust multi-signature capabilities added to all services in Syscoin 2.1, new use cases are constantly being discovered for many other industries, ranging from banking and insurance to medical, real estate and more.
Partnerships Outside The Marketplace Use-case
Only a few days after the Syscoin 2.1 release, we published our Syscoin 2.1 whitepaper, the sharp observers were able to read between the lines and appreciate the disruptive capabilities that Syscoin provides via its blockchain services. Syscoin in-essence provides a set of production-hardened smart contracts, which are very attractive to those who have been disillusioned by the recent scandals caused by poorly-designed/implemented contracts and malleable blockchain-based solutions.
Although we knew that Syscoin would be able to provide many solutions to different industries, we were surprised by how many organizations were already able to appreciate the potential of Syscoin just from the information in the whitepaper. Due to this interest, we are now actively discussing several high-value opportunities outside of the marketplace use-case with these organizations- ranging from participation in pilot programs to organizations providing us funding to develop solutions for them built on top of Syscoin services and APIs, to completely upend traditional business models. We’re exploring these use cases with reputable organizations in the medical, banking and insurance sectors and are hoping to be able to share more detailed information soon.
A New Partner That Doesn’t Rest
Recently, we’ve partnered with a team that has surprised us by finding a use-case for Syscoin that we had not yet imagined, and they surely won’t be the last to discover such hidden opportunties. The Betternot.Rest team has been actively working with Syscoin to develop their innovative mobile application which uses Syscoin’s smart-contracts as a base for its services.
Betternot.Rest is an application that pays digital currencies to those who wake up on-time. The launch of the Betternot.Rest application could potentially bring cryptocurrencies such as Bitcoin and Ethereum to the masses all while putting Syscoin center-stage in terms of technology. “The possibility of creating multiple identities through the Aliases feature that was implemented in Syscoin version 2.1[…]” as well as “[…]features such as escrow and pricepeg, were essential for this project to be realized[…].” said Neylor Zauriso, Betternot.Rest Founder in a recent Cryptorials article.
The Betternot.Rest team is currently crowdfunding their application on their website and accepting donations; 20% of the funds donated will be split among the first 1000 users who sign-up at the application launch; the remaining funds will be used to develop the application.
We’re excited to share that we’ve submitted to present at Consensus 2017! Although the final selection process is still ongoing, we hope they see the clear value in our technology that other organizations from varying markets are seeing, and grant us the honor of sharing the vision we’ve worked so hard to realize over these past 3 years with an even larger audience. We’ve also been working on contingency plans should for some reason we not be chosen to present- we would like to participate as a sponsor with a booth and at least two of our team in attendance. There are significant costs associated with this effort but we are very motivated to attend and present by whatever means possible.
While it’s very encouraging to see companies and organizations identifying value within Syscoin that can positively impact their bottom line we still have our work cut out for us in terms of educating not only organizations but consumers as well. For the last three years Syscoin has been thought of and marketed as a decentralized marketplace platform- we have always had the larger vision in mind but marketing it as such at the time, and without code or tangible product to support it we felt would be disingenuous and there were already too many projects at the time misrepresenting the reality of what they could deliver. The slogan “Business on the Blockchain” always alluded to this larger vision. Now that we’ve achieved these milestones at a code level we can pivot our marketing message to really underscore the full scope of use-cases that Syscoin’s platform provides and in turn drive more value and adoption.
We have a lot to share over the coming weeks, and we probably won’t be the only ones with information related to Syscoin to share as we’re working to leverage the aforementioned partnerships for even more exposure to markets that currently don’t even know about Syscoin. Once confirmed by all parties, we will be rolling news out over the coming weeks in coordination with the appropriate partners. In addition to these new partnerships we’re pursuing, we still have a lot going on with Microsoft, more details to come in posts this month but we’re trying to coordinate marketing with them due to the volume of blockchain products we’re submitting for certification in such a short amount of time. There are also updates on Blockmarket, Project Mongoose, the Syscoin Desktop Application and a Syscoin Web Wallet complete with all SYS services and more coming throughout the month leading up to a private Blockmarket Alpha as soon as possible. More information on how to sign up for the Blockmarket M1 Alpha will be released soon.
The Syscoin core is still evolving in big ways as well in reaction to the challenges and use cases we’re now seeing from organizations we’re working with. An innovation update post focused purely on the new capabilities being added to the core including but not limited to Segregated Witnesses (Segwit), Tree Signatures and more well be in a post planned for later this week. The release of Syscoin 2.1.2 will likely coincide with the innovation update, and the update will detail the specific improvements contained within 2.1.2 and furthermore what’s yet to come in the next release following 2.1.2.
All the above and more will be detailed in a series of posts focused on each topic coming out over the following weeks. Stay tuned, just like the roadmap indicated Q1 2017 is an important milestone for us and with all the increased interest from companies outside the “marketplace-only” use-case, things are likely to get a whole lot more interesting.