Just one week into the mainnet launch, the Bitcoin Private community and contribution team has a lot to be proud of and a lot that needs to be worked on. The mission of bringing privacy transactions to a critical mass, and to a mainstream audience is critical and one that Bitcoin Private has set out to accomplish.
Following the mainnet launch on Friday, the BTCP contribution team had its first post-fork strategy meeting, and most of what was discussed and concluded can be found in the Bitcoin Private community update from this past Tuesday.
Although the launch was successful from a technical standpoint Bitcoin Private now has their work cut out for them. To deliver on their mission, Bitcoin Private needs to become both as accessible as possible to the masses through, e.g., exchanges but it also needs to innovate & execute on its product strategy to bring its transaction/payments technology to vendors and payment gateways across the world.
On the exchange front, Bitcoin Private already has three confirmed listing partners: Trade Satoshi, HitBTC, and Nanex.
— Bitcoin Private (@bitcoinprivate) March 9, 2018
There are ongoing conversations with other exchanges, such as KuCoin, and this remains a top priority for the contribution team. Reflecting back on everything that has happened over the past couple months with the inception of Bitcoin Private and the actual fork that occurred this past weekend, it’s easy to forget how early in the journey they are.
One week into the launch of the BTCP blockchain and there is an exponentially growing community base (Twitter account following increased from 32,000 to 47,000 followers and BTCP Telegram group saw an additional 3,000 participants signing up, surpassing 10,000 in total), an ever-growing open-source contribution team on both the engineering and brand ambassador side (we’ve added 4 engineers to the team and 260 brand ambassadors), and several unsolicited inbound inquiries from business owners and vendors who want to start taking BTCP as payment.
The team has realized that the demand for robust privacy payments products is real and already has plans to deliver on a light payment solution for vendors across the world. This will be a very challenging process as this will require that proper product development steps are taken to create a meaningful user experience, but the team behind Bitcoin Private is well equipped to execute on this.
Aside from the enterprise product strategy that will be a key differentiator for Bitcoin Private, the core blockchain and wallet team has already made significant progress on hardware wallet development that will be critical in developing a relationship with mainstream wallet leaders such as Trezor and Ledger.
— Chris Sulmone (@sulmone) March 9, 2018
The solution to the challenges and risks are clear. Bitcoin Private has to continue to execute on its roadmap and continue to demonstrate to the entire crypto and tech community that it is a mission that is here to stay and flourish.
Article Written by Giuseppe Stuto – Follow him here
Disclaimer: This post is not financial advice and reflects the personal views of the author. The author invests in digital assets and has positions in the aforementioned cryptocurrencies. This article should not be used as investment advice or financial trading advice and it should not be construed as a solicitation to invest in any cryptocurrency, and nothing herein should be construed as a recommendation to engage in any investment strategy or transaction. Please conduct careful due diligence and consult with investment, legal, and tax professionals before investing in any digital asset.