Decentralizing Konkrete
In 2020 our focus is going to be on 3 primary things
- Continuing to service existing legacy clients, this keeps us in the black and allows us to keep building to our long term goal
- Raising additional capital to scale up operations
- Decentralizing our operations
1 and 2 are already being worked upon.
3 comprises of 2 sub tasks
3a. Decentralizing our product
3b. Decentralizing our business operations
Decentralizing the product offerings
We went in a closed beta with Factorium.co late 2019. We are still ironing out some of the UX and UI. It has blockchain elements in it, but it is still not a fully decentralized model. The current CeFi model will be replaced with a DeFi model and we expect that version to go in a closed beta by end of first quarter 2020.
All future Konkrete products will be designed with decentralization and censorship resistance as the primary driving factor.
Decentralizing Konkrete operations
Konkrete is currently setup as a public company. We issued a full disclosure retail offer document, being one of the first to do so globally. However despite our clear strength in regulatory matters, this has turned out to be a redundant at best and damaging at worst position to be in.
Just being public does not mean your stakeholders are more engaged etc. On the other hand Maker DAO with its MKR token holders makes it far easier for its holders to participate in decision making. Also being an ERC 20 token, it also allows the investors to go in and out of their investment in a much easier liquid manner.
We will be turning Konkrete in to a PTY first and eventually a foundation. We may consider incorporating in a different jurisdiction to Australia.
Shareholders of Konkrete will be provided a 1:1 share swap into the PTY and then provided MKR style tokens that will represent their stake as well as make it easier for them to participate in strategic decision making of the venture.
Expect all of this to happen in a relatively short period of time, resolutions will be tabled for shareholder approval in the upcoming AGM and we will be on our way.
