Amstelveen, September 2019
Dear Momentum Protocol supporters,
August has come to a close and so has the summer. Despite that, we have recently experienced another heatwave here in Western Europe. Perhaps as a final farewell before the cold winds and rain return and the leaves start to change. We hope that many of you (in the northern hemisphere) have had a pleasant summer season!
In this month’s newsletter:
- Business Development
- Trip to Seoul, South Korea
As I stated in the previous newsletter, we have started the lengthy and complex listing process with a number of reputable exchanges. We are currently working on narrowing down the options in regards to which exchanges we believe will be the most beneficial for us. We are fortunate enough to be able to have a direct line of contact with various heads of exchange through our excellent contacts Alexis Sirkia, Ariel Luedi and Juergen Hoebarth. These contacts also act as a vital source of knowledge to help us successfully navigate through this entire process!
We held a conversation with some of our community members recently on our Korean Telegram channel and I had a short trip to Korea to talk to our token holders. They had a number of questions regarding the listing. I would like to share some of them here with you as well, being of relevance to all of our supporters.
- What is the precise date of the listing?
We have unfortunately discovered recently that a number of individuals have made promises to token buyers regarding listing dates. I need to make clear that the ONLY reliable source regarding the news around Momentum Protocol and our token is news that is posted by me, the CEO. No one else is authorized to speak on behalf of Momentum Protocol. I also need to please urge all of you not to spread any rumors regarding a listing date. Like I said, the only reliable information regarding the listing will be posted by me.
Having said that, we have dedicated a section in our monthly newsletter to the listing for the past several months. As head of our company, I have been looking into the listing strategy extensively since my position started in March of this year. The listing date depends on a variety of factors, both internal and external. As mentioned, to help push the process forward I am getting the very close help of Alexis Sirkia, Ariel Luedi and Juergen Hoebarth.
I know many of you have asked: “Can you give me a precise date of the listing?” Honestly, I really do want to give you a listing date. However, due to various factors, and also because of Swiss regulations, I simply cannot make promises such as exact dates. What can I promise you? That we are on it, working every day – having meetings, preparing documents, getting legal opinions, creating PR and everything involved in and around the listing process! I will be able to update all of you with positive news very soon!
In regards to the listing itself, the latest news that I can share is that our smart contract has been audited by a Swiss company that works closely with big exchanges all around the world. This audit has been passed successfully. This was actually not our first successfully passed audit. As we get closer to the listing date however, exchanges required a fresh audit to comply with their internal requirements.
- What is happening with the bounty program?
Regarding the bounty program, we had been working with a third party. Unfortunately, the results were not very satisfying. We have recently appointed a new Head of Marketing and part of his responsibilities is working on the reshaping of the bounty program.
One of the goals I had for my recent visit to Korea was the creation of a network of local community supporters who believe in our project and would like to help make it a success, both from a commercial perspective and from a listing-community support perspective.
In Europe we have a good number of individuals from the community actively supporting the project. This support is of great help and has so far brought along a lot of positive results, including partnerships, launch projects and more. I hope to have the opportunity to create such a good community in Korea as well.
An example of successful cooperation with the community was mentioned in our previous newsletter where we talked about the Aison platform. CEO of Future Resources Ltd., Daniel Le Coulliard, is a token buyer who recognized the partnership potential for his own company. He is very active as part of the European community and we recently signed an agreement to implement our solution into his extensive and valuable CRM platform.
- Last year, listing was delayed because of a Bear market. I heard that this is a strategy. Even if Bull market comes this year, MMTM listing is also delayed… What is your plan and how long will it take? As MMTM takes more time to list and make us wait, we lose more faith in this project.
I want to make clear that listing is important to me. As you might know, I was appointed CEO quite recently. Like many other token buyers, I personally purchased a significant number of tokens last year. Furthermore, many of my friends and family bought tokens following my encouragement. Many of those friends are business owners or senior executives who all believe in the potential of this project.
Now that I’m CEO there is no one who has more interest in listing the token than I do. However, it is not only market conditions that determine the listing period. Listing also depends on various external factors. As you may already know, the community has a significant role in creating a positive environment which can in turn affect the listing. I hope to have the help of a positive community in making this project a success!
What is a positive community? A community that supports our efforts, that acts as ambassadors for our community, by spreading positive news we share, by adding people to our channels that are not in the channel yet, by referring companies to us for collaboration, etc. Together we can create this positive vibe and make this project successful, and actually launching the first useable blockchain based solution for Loyalty programs, with added benefits for both the vendors that use the Momentum Protocol to launch their rewards based program, and their users that are rewarded real-time with the brands’ own tokens. I am confident that together we can have a successful listing as well as launch the first customers on the platform in the near future. Let’s make it happen!
Some of our supporters have been asking when the Momentum platform will be operational.
Building a solution like we do (incorporating complex technology like machine learning) is a lengthy process. Of course we have a roadmap with milestones and we are currently developing our solution in our Israeli R&D center.
What is distinct about our solution is the way it will be able to employ AI to predict behavioral patterns in customers in order to understand what their perceived value for a product, brand or service is/will be. Consumers’ perception of the value of the company loyalty assets is influenced by various factors and events in their life which may be either constant or may change on a varying frequency basis. When and if patterns change, based on gathered information, our technology will be able to compare this information and suggest an exchange for another Alliance Members tokens which have a higher perceived value to them.
For example, imagine that an individual is a frequent visitor to a fast food chain. In turn he/she has accumulated many of tokens at this establishment over the years and has redeemed tokens for free products on occasion. Imagine then that this same person makes a lifestyle change and becomes a health conscious vegan who starts exercising more frequently. Suddenly their visits to the fast food chain have plummeted since they no longer eat animal products or fried foods and they have instead purchased some running gear at a sporting goods store. This lifestyle change has dramatically changed their perspective on the perceived value of both the fast food and sporting goods store tokens.
Our solution will be able to make connections in these behavioral changes and suggest to this individual to, for example, exchange their fast food tokens in for sporting good tokens. Furthermore, each user to the platform will be able to choose if they would like to manually decide or have automated suggestions issued to them when it comes to which Alliance Member businesses they want to interact with.
In our previous newsletter under this same section I mentioned that we have been in negotiations for a while with several AAA companies to discuss some concrete business. One of which is one of the 5 biggest IT hardware companies in the world.
These discussions are ongoing. We very recently had another productive meeting and we believe that a collaboration would have significant impact for Momentum Protocol. I will provide you details as soon as we can share them.
Trip to Seoul, South Korea
I recently traveled to Seoul, South Korea in the first week of September as a follow up to my first visit in April of this year. On the agenda was a meeting with our Korean community members as well as making new connections for potential collaboration.
Our Korean community is very involved in the Momentum Protocol project and I was looking forward to building a stronger relationship with them – especially with certain individuals interested in helping support this project in the community along with us.
We held meetings with some of our members face to face to speak about their thoughts as well as how we can work together towards making the community a positive space with more open communication. Seeing that I am not savvy in the Korean language, I can use all the help I can get! I appreciate all of those who are willing to support us in this capacity! Thank you to all of those who made time in their busy schedules to come and speak with me and provide their ideas and input.
As always, a big thank you to all of you for your continued support! Do not hesitate to reach out should you have any questions or concerns.
Follow us on our social channels: