I’m Jonathan, CEO and cofounder of Vennd We help people issue their own digital currencies
In a few years digital currencies will be everywhere There’s already some good examples out there, like air miles and loyalty programs In fact they’d probably be everywhere right now…
But those systems are expensive to implement and maintain The advent of blockchain technology lowered the barrier to entry, but blockchain tech is notoriously difficult to work with That’s why we created Vennd. We’ve reduced the complexity and pain of creating and managing a digital currency to a series of API calls This isn’t just theoretical, we’ve got a number of customers already using it
The MBTC, a coworking space in Melbourne, awards their currency to people who contribute to Centre operations The currency can be redeemed for goods and services at the Centre, or traded with other users Storj is a P2P cloud storage application. They created a currency so their users could pay each other for storing and serving up each others’ data These businesses created and manage their currencies through Vennd in a matter of days, orders of magnitude faster than existing rewards programs
Our systems have been production-tested; we’ve created over $1.2MM of value on-blockchain already for customers across a range of industries Additionally, the SEC recently announced that equity fundraising will be legal up to $50MM from unaccredited investors We’ve had several customers enquire about running equity crowdsales since the news broke
We have two revenue streams planned: a tiered cost-per-call API model with a minimum monthly spend, and percentage-based value-add services
To reach the aforementioned 1700 paying customers, we’re taking a page straight out of Stripe’s playbook We’re targeting developers as our primary distribution channel We’ll get into their heads through podcast and forum advertising We’ll get into their toolboxes by running hackathons and game jams to encourage them to build with our toolsets
Our competitors all offer only basic blockchain functionality, and only for single blockchains We have built specialised functionality which we also expose via API, and are blockchain agnostic
We are raising now to build out our team, feature set, and customer base
Jeremy effectively wrote Westpac’s compliance document for the Dodd-Frank Act, saving them millions of dollars a year1 In my previous business I sold 2,500 Bitcoin miners the month I launched them
We are raising US$1MM now to build out our team and functionality We will onboard 1700 paying customers by the end of our first year
Before I leave you I’d like to give you a glimpse of the world in ten years’ time Digital currencies are now everywhere, and everything from your rewards points to your stock portfolio to deeds of title for your car and house are represented on different blockchains as digital currencies These are all managed from your phone, and can be traded against everyone else’s currencies, with vennd as the mechanism that makes those trades possible
- Thanks for your time. If you have questions we’d love to talk to you afterwards.
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