Newsletter 28: The Origin Story Part 3

7 mins read

“What would life be if we had no courage to attempt anything?”― Vincent Van Gogh
In the first chapter of the Origin Story, we shared how we started out.

In April 2018, we decided to embark on a platform project. It started out as an idea to build a platform that enabled users to purchase crypto through an easy interface and be able to trade with fiat. We liked trading derivatives and the discussions were getting more enthusiastic by the day. Being long on cryptocurrencies, it was a natural step forward in promoting and turning our passion into a career. We studied the feasibility of doing it and within 60 days, we found that:

  1. Talent wasn’t easy to find.
  2. Talent wasn’t all going to be local.
  3. Talent to build a platform wasn’t going to be cheap.

 

As experienced managers, this was a nightmare! Every leader knows that people are the most important asset of any institution. Here we were trying to figure out the steps to get a platform built but we couldn’t find talent to engage with and figure out the details to make it work. Regulatory frameworks looked uncertain especially when in our local jurisdiction, the May elections had a change of government. We’ve always believed that governments and cryptocurrency should work together and although change is painful and at times necessary, the uncertainty was too risky to wade in. So our first attempt at building a platform actually didn’t pan out.

In July, we had gone on to take some time out together over the weekend to meet new entrants in the blockchain space and to catch up with old friends. Looking back in hindsight, we needed that timeout to reassess our approach.

The BitOrb Framework that has stayed consistent since the beginning.

 

We formed the basis of our framework. Created the timeline for the exchange to go LIVE 18 months later. Formulated a strategy to raise the funds so that we could accomplish what we set out to build, and to raise more later to market BitOrb. All this whilst keeping in mind that we will practice transparency and good governance. We took courage, looked over the metaphorical cliff, and dived straight in again.

We began looking for talent again, persevering as we took the next couple of months finding the software developers needed to construct BitOrb. Remember, this is a during a time when bitcoin had fallen from its ATH of USD 20,000 to USD 6,000. It was challenging to find talent that not only fit into our budget but also globally-sourced talent that would believe they would get paid!

How we got our talent and how we began raising funds is a story for another day.

 

Marketing: Building good relationships takes time

Just the past week, we were in Singapore at a Coindesk event where we took the opportunity to catch up with our blockchain partner Tomochain, and to ready them for what is to come in Q4 2019. It was also good to catch up with Tomochain founder Dr. Long Vuong, where he shared with us a review of their past accomplishments and the challenges moving forward.

BitOrb catching up with partners, Tomochain, at the Coindesk Invest: Asia in Singapore

 

 

Exchange: Preparing for 24/7 operations & support

We are always keen to share our passion and platform. We enjoy it so much that we’re allocating space for seminars to be held in our new office that we confirmed recently. In preparation for the 24/7 operations and thus a larger team by the end of 2019, we’ve doubled our space!

BitOrb introducing Blockchain and Bitcoin to finance executives

 

 

Marketing: 1st Intake for BitOrb Referral Programme

We invite all interested Master Traders | Influencers |Content Creators (individual or corporate) to apply for the BitOrb referral programme before the end of SEPTEMBER 2019.

Thank you so much for investing in Orbyt Tokens. Remember to get your complimentary BitOrb Tee!
Back to work!

by

Hoong-Teng Lim

4th October 2019

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