Hello and welcome to the 2nd monthly update of BuildingIM.
It’s an exciting time in our world right now as we launch Phase 2 of our plan to
rule the world bring the ultimate construction management platform to market. So let’s get to it and discuss what this actually means.
BuildingIM Are Officially Authority Node Operators!
This month, specifically on Sunday 24th June, two of our servers were officially promoted into the authority set of the Factom Mainnet. This has been the culmination of a lot of hard work and, as alluded to above, is the official ending of Phase 1 of the BuildingIM strategic plan. The income provided from running two authority node servers will allow us to speed the development and launch of our construction management platform, which will, in turn, see every project we onboard begin to use Entry Credits and burn Factoids. BuildingIM were elected to be an ANO on the basis that we will be bringing real business into the Factom ecosystem and with the launch of Phase 2 we will be making huge strides towards this. So just what the heck is Phase 2?
Moving into Phase 2
To put it simply, Phase 2 will see the development and launch of the MVP of our Construction Workflow Solution (CWS), with the official end being once we have signed our first revenue-generating contract. As our final vision of the CWS platform is hugely ambitious and exciting, we will release to the market in stages beginning with our MVP. This allows us to quickly start generating revenue through really focusing on the elements which will initially add the most value. With the MVP in place, we can begin to work with our customers in collaborative sessions to iteratively improve the platform, always with a focus on which new feature will add the most value.
The development of the CWS MVP (we love acronyms at BuildingIM) will be in an Agile way. Specifically, we will be following the Scrum framework where iterative development is carried out in “sprints”; in our case, we have chosen 2 weeks as our sprint period. The scrum framework demands that at the end of each sprint there should be something tangible or demonstrable and as such this iterative type development perfectly suits our value-driven route to market.
We are currently in the middle of our maiden sprint and are making great progress towards our current sprint goals. The focus of this sprint is very much to lay the foundations of the platform so that when we bring developers onboard they know exactly what we are looking to build. This is a critical step which is the downfall of many projects and it is a step which we at BuildingIM are determined to get right. Keep an eye out for the BuildingIM July update where we will discuss our completed sprints to date in more detail!
Factoid Price And Our Outlook
So on to the not so good part of this month. The elephant in the room has been the relative downturn in the wider crypto market since the initial ANO elections at the end of April. I think it is clear that until Bitcoin decides what it is going to do, there is little scope for price growth in the wider market and unfortunately Factom is included in that. However, despite this, I can see the protocol is at a turning point and I can feel there is a powerful energy and momentum behind the teams driving the protocol forward. I would urge everyone not to focus too much on the short-term price (especially in a vicious bear market) and instead look to where we are headed. These are exciting times and I for one can’t be more thrilled to be part of this journey!