As we explained in our previous update about our marketing plan, during the first six months our main duty won’t be branding. Branding too early could create problems. For the same reason, it won’t be advertisement either. Our main duty will be more practical. It will be to find our first sellers for The Block. Those individuals will be the seeds of our marketplace, forming a robust supply side first in order to fuel demand.
For that purpose, starting next week we are running a Sellers Program. Its goal will be to onboard as many sellers as we can, directly addressing their needs. Which kind of sellers are we looking for? As explained before, we are focusing on those people or businesses already using crypto for e-commerce. Our payment system right now only accepts crypto (although this will change eventually, accepting fiat), and because of that we are only onboarding sellers willing to get paid in cryptocurrency.
Our Sellers Program will include several actions, mostly handled internally. But we will give also our community a chance to collaborate with us through a referral campaign. What is this referral campaign about? Basically, we will pay those users who actually bring sellers to the platform. More details are coming shortly, so please stay tuned.
Our Sellers Program will also be a test for our product. We will run an onboarding program, where we will work directly with sellers. It will be a highly valuable exercise to improve the overall experience of those using our platform. In the end, it is about validating our value proposition, determining where we need to improve, and setting the foundations for a great service.
Our Sellers Program is, therefore, the first step to build a working, profitable, marketplace over the blockchain. We have a solid plan. We are even working on complimentary projects, and we will update our community as we go.
Update on exchange listings.
Many of our community members have been asking us when we will be listed on bigger exchanges. We are sorry to say that, at this moment, this process is on hold. The reason is very simple. As you might now, we are incorporated in Zug, Switzerland, a country globally known for its willingness to accept crypto companies. Nevertheless, FINMA, the financial authority, is in the process of setting up new rules for all those companies issuing tokens and selling them through a token sale. This means that, at this moment, there is some legal uncertainty. However, that will be solved soon. Meanwhile, the wisest approach is to delay any token operations, and wait for new regulations to arrive. This includes listing our token on any exchange, especially paying for it.
This issue won’t affect the rest of our business operations. We will continue coding our blockchain solution, and finding vendors and partners to build a proper business with it. We want to apologize for the inconveniences that this temporary issue might bring to our community. It’s out of our hands right now. The blockchain world we live in is full of opportunity and change, but it is also a time for regulating bodies to determine best practices and set guidelines. That process takes time. We will adapt as we go, making the best decisions we can to grow this blockchain e-commerce ecosystem. We really appreciate your patience, and your support!