From now on we have decided to change the format of our weekly reports so it would be simpler and easier to digest for our community members and followers. The goal of the report is to share key developments and activities of the past week as well as to shed light on future Stobox development. In transparency we trust!
We are experiencing some delays in production. Our priorities in the development are Dashboard for Stobox STO, DS Swap, and Stobox Exchange. The latter is the most advanced in terms of development, therefore, we prioritize completing less complex tasks first.
DS Dashboard for Stobox STO
We have completed 95% of the work and will be ready to deploy in the nearest time. We have implemented a unique Smart Contract and have tokenized Stobox Technologies Inc. (US) shares. The last piece that is to be completed is wrapping the API and making sure all data is safe and secure. Once DS Dashboard is launched, we will start actively onboarding investors and showing demo to our upcoming clients. We offer our clients products and services which we have executed for ourselves proving that they work.
This is game-changing the add-on to the DS Dashboard. We build a series of smart contracts that enforce regulations of securities on the chain. Basically, it’s a Uniswap for securities where every regulation, AML/KYC, limits, and corporate rules are enforced. It means that Stobox Common Stock shares will be tradable on our proprietary venue. Zero expenses on Securities Exchange listings (min. $50k). Fully compliant with international rules and regulations. Once we close our STO, the DS Swap will be ready to support secondary trading.
Unfortunately, there has been no ongoing development as our Chief Technical Officer responsible for the Exchange is struggling with Covid. Sad but true! We will catch up once he is back on track!
Analytics & Business Documentation
We see that tokenization of securities is becoming a very demanded instrument by growth-oriented businesses. One of our primary tasks is not only to develop Stobox DS Dashboard and DS Swap, but to implement a business model that would maximize Stobox profits by finding the right balance between profit per clients, minimizing barriers to entry into tokenization with Stobox and supporting STBU. So, our analysts are conducting the research on the best practices of structuring unit-economy to implement it into Stobox business model. About 30% of the research has been already completed.
Business Development & Sales
Even though it’s a holiday season in the US and Europe we have been receiving requests from potential customers, mainly on STOs and general consulting. 10 leads have “fallen” into our sales funnel. One contract for consulting services has been signed. By the way, this was the first client who paid with STBUs.
Exposure is very important in building awareness for Stobox products and services. Furthermore, we believe that our knowledge and practical experience are valuable in building industry standards and promoting tokenization to the masses. That is why we have chosen the most active Digital Finance and Blockchain associations in order to engage into their activities, share knowledge and provide our competency.
Production & Marketing
As we are pushing sales and preparing to onboard clients, we have started to refactor our communication channels such as website, media, product presentations, etc. Our goal is to prepare all the necessary materials for scaling our marketing activities. There is no point in spending budget on Adwords unless all necessary marketing and sales tools are finalized.
Besides that we have issued some news:
- Announced the first tranche of the payment for Stobox Consulting services in STBU;
- Announced mention of Borys Pikalov in Tier-1 Finance Media;
- Posted and promoted a Stobox Insights video by Borys Pikalov;
- Published a Stobox Interview with Radoslav Dragov (Blockchain Lead EU at IDC);
- Recorded a Stobox Interview with Steve Tendon (Author of Malta National Blockchain Strategy).
Legal and Finance
We run 3 companies — US, Estonia, Ukraine — and we are launching the fourth one on the British Virgin Islands to support Stobox Exchange operations. Financial reports and accounting reports are to be completed and filed in 3 jurisdictions. BVI company has to be finalized and set up. Moreover, the budgeting process is essential when building a company. We are working on the budget and setting up sales plans for 2021. We should strive to be adaptable to any challenges 2021 is preparing us for. “There is no luck except where there is discipline” — Irish Proverb.