Quarterly Update #1

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Hello everyone! We’re excited to present you with our first update on the progress we’re making here at Block Party. We plan to publish major updates quarterly, in alignment with updates to our advisory board. This page will also contain informational articles and intermittent news.

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It’s been a busy first couple of months. Like other ANO’s, we’ve been getting our business affairs in order, setting up our infrastructure, and implementing systems to maintain the highest levels of stability and uptime.

On the marketing side, we built and published our website (you’re on it!). We kicked off our Twitter presence, which we hope to grow steadily throughout the upcoming months. And in the Marketing Committee, we’ve proposed and are developing a shared Copy Bank, a document of agreed-upon language that we can all use when discussing the protocol for various types of audiences. This will reduce redundant work and help the community stick to a coordinated message as effectively as possible, once we address the complications surrounding the creation of one cohesive landing page for the protocol. We’ve also committed to working with DBGrow and Go Immutable on their initiative for a comprehensive marketing strategy.

For those of you unfamiliar with our use case proposal, Block Party is developing IT security and supply chain management applications serving the Visual Effects industry, a space in which our founding members have worked for years. This industry is ripe for blockchain disruption, for a number of reasons: it utilizes an entirely digital workflow, meaning that everything from the source material to the end product is natively writable to the blockchain; there’s a vast global supply chain involving hundreds of vendors, which could benefit from the implementation of trustless systems; and there are strict standards of audit compliance, with each vendor required to pass security audits.

One of our team’s strengths is that we have extensive experience and relationships in this industry. Compared to some other ANO’s, we’re less tech-centric and more product-focused. That means that we’re taking a somewhat different approach to product development. Rather than attempting to build a product in search of a market, we’re working to understand the market to inform the product we build. We’re obsessive about establishing product market fit.

We’re currently in the process of talking to potential customers, and understanding their needs in order to develop a product that addresses their pain points. As everyone knows all too well, the biggest hurdle in the blockchain space is convincing enterprise clients to take the leap and put their faith in a new technology, so we’re prioritizing that at the front-end of our process.

The conversations that we’ve had with businesses in the VFX space have been extremely encouraging. It’s clear that there is a market for a product like ours. Once people understand what Factom can do, they see the value it can provide — so much of the early stages of this process is about educating would-be clients and potential partners about the protocol’s power and potential.

We plan to continue providing value to the Factom community in areas where we have expertise. But we also know that Block Party is going to best be able to further this protocol out in the world, talking to enterprises about their problems and how Factom can solve them — so this is how we’re prioritizing our time.

In the coming months, we’ll be building on these foundations and advancing these conversations to tangible ends. Recently, ideas have been discussed involving some possible structures for collaboration with a potential client, and we’re excited to share more details about that development with you in our next update.

We’re working towards a more honest world, and the party is just beginning.