Beacon’s New Structure and Direction
In the cryptocurrency space, a title like this can scare people. Cryptocurrency investors in general are skittish, the slightest change in the plan can send them rushing for the door. Everything is either mooning or burning. What can you expect from them? The industry has conditioned them to run from any type of uncertainty they come across.
So I will make this as simple as possible for everyone. The changes coming to Beacon are not being made because of failure. These changes are being made because of opportunity. Opportunity might not even be a strong enough word. Our Beacon Incubator, which has been part of the project since it launched in November, caught the attention of some people and the results are nothing short of awesome.
The Beacon Incubator
When building out the structure of Beacon, the thought of a decentralized approach was never far from my mind. We wanted to take the thing that maybe cryptocurrency so attractive, decentralization, and apply it to our utility. By having many utilities, our project would remain strong if one of them ended up not working out.
While we were confident we could develop platforms, we also wanted to provide a developmental on-ramp for individuals who liked what we were doing and wanted to play a role in it. So in September of 2017, I wrote in the first Beacon White Paper about having an Incubator where developers could come to us and in return we would help them develop a utility platform that they could lead and join the Beacon team.
I thought it would take about six months for the idea to catch on with independent developers. We needed to build the trust of our community and the cryptocurrency community in general. However, a number of developers that I had worked with on previous projects saw the work we were doing and reached out to me in private to see how they could become a part of the Beacon project.
So long story short, the Beacon Incubator worked as advertised. So well in fact, we were enticed to switch some things up to capitalize on the opportunities in front of us.
Due to the potential revenue sizes of the new, upcoming projects, we at Beacon knew we needed to continue to push the bar higher of our perceived legitimacy. Naturally, this led us to the decision to establish a real world company here in the United States. This does two very important things:
- It provides Beacon an opportunity to grow through official channels, including pursuing opportunities outside of the cryptocurrency industry.
- It provides investors with additional protections through increased expectations, filings, and documentation to fulfill our business requirements.
Our goal from the very beginning was to continually show our investors that we are here for the long term and we will do everything we can to ensure them that the entire Beacon Project will grow into the next bull market. We can only do that by assuring every investor that all necessary steps are being taken to protect them and the project, including establishing a company in a major country with strong laws like the United States.
The first thing we are doing is we are establishing a parent company. This company will be classified as a 'software development company' as the Beacon Ecosystem is set up to develop multiple platforms that will directly or indirectly utilize the Beacon community and the cryptocurrency. Underneath this parent company, we will begin a system of setting up child companies and subcontracting agreements with complimentary organizations.
These child companies will include the Beacon cryptocurrency itself, the CryptoSwag Merchandise store, two new projects yet to be revealed, and the Beacon Foundation. These child companies will be isolated from one another from a company structure standpoint. This is the true structure of a conglomerate. This way, if one utility shutters or has an issue, it will not affect any other utility under the Beacon parent company.
You will notice the Beacon Arcade is not currently listed. Development on this platform has been paused due to company filing. This project is not dead. However, because of the U.S. Government’s crackdown on online gambling, and the Arcade’s close relation to an online casino, we left it off for now for further consideration. We are exploring possible sub-contracting opportunities that would allow us to keep it on our slate of projects.
Two New Projects
You got really excited when you saw those two new logos, didn’t you!?
“But, but, where are the names? And what will the do?! Tell me more!”
Sorry, we cannot yet. But the logos look really, really cool, right? One reason we cannot yet announce them is market competition. We want to be the first to market with the first platform. One that will be a total game-changer and fits right in line with our overall vision for Beacon. The second one is what we believe will be a major improvement to an existing market supplier with an expansion of services.
These two projects are a direct result of the Beacon Incubator. We have spent the past two months talking through details with new team members and developers and have gotten to the point where we can move forward together. It is an exciting time for the entire Beacon team and I hope it is for all of you, the Beacon investors.
How the Cookie Crumbles
The bear market has hurt a lot of projects. It has caused many to shut down completely or go into a long term hibernation. Unfortunately for those on auto-pilot, when they return when the bulls come back out to play, they will be far behind Beacon in order to capture the incoming capital.
Beacon will not allow us to experience that same fate. Adapt or die. That is the only rule that matters in a bear market. Lucky for us, we have the Beacon Incubator, a system in place that makes adaptation not only possible, but achievable.
While the price of BECN has seen better days, it does not affect our developmental plan as we do not sell coins to fund our development. Even still, Monitor revenue has allowed us to perform some strategic coin buy backs and we look forward to additional revenues to propel us forward.
Here at Beacon, we are insanely excited about the new direction, the upcoming company, the new projects in the pipeline, and what that means for us in the future. It is a good time to be a member of the Beacon Community.
Thanks for being here,
The Beacon Team
BitcoinTalk Ann: https://bitcointalk.org/index.php?topic=5059521.0