HelloTalk Vol. 5 — Wrestling with Bears

As the market price stumbling, there it comes a big question mark on how EOS BPs should behave so they can not only survive the winter, but also keep supporting the EOS community and the platform as much as possible.

Well, this week we will move on with our bear market conversations.

Our first guest is EOS Cafe Block, a Canadian Block Producer with a small team. Their CEO Syed Jafri is one of the most active member in the EOS community, they are a team that focuses on creating value through innovation, technology, and education.

Question:

  1. most of the tools BPs provided are non-profitable, what do you think is a good way of generating revenue from developing tools and dApps?
  2. You mentioned that this time you come China for a government meeting, can we have more details on that?

Answer:

I think it depends on your target audience for the dApp/tool. If it’s created to help the main community and user base in EOS, it will carry negative connotation to charge for it. Like most BPs, we provide bloks.io as a free block explorer to our community and we do not try to make a business out of it even though we’ve had people pitch us ideas.I believe we have to create dApps at a broader scale and target all users, like a regular app does on the app store and play store, if we want to be profitable.

The province we are based out of (Alberta) is mainly oil and gas based industries, so currently the government is trying to diversify and support other industries, such as tech and startups. We fit the bill in both ways, so I hope to see many more programs that can support us — we are still in the process of exploring our options.

Our Second guest is EOS Canada, a top EOS Block Producer. EOS Canada is founded by a team of serial tech entrepreneurs who is deeply committed to contribute to the growth of the EOS ecosystem.

Question:

  1. How does entrepreneurship get involved in EOS Canada’s everyday decision making? What’s the main difference of entrepreneurship in a blockchain company when comparing to a non-blockchain related company?
  2. Does EOS Canada have any plan on generating extra revenue with a second job?

Answer:

EOS Canada would define an entrepreneur as someone who is willing to start a business knowing and understanding the risks and challenges that lie ahead. Someone who takes their future into their own hands to try and overcome those risks and challenges rather than relying on a job or corporation to provide a steady and stable, relatively risk-free position.

As a group of serial entrepreneurs ourselves, we have looked at the risks and unknowns associated with jumping into a brand-new technology like EOS, in a still incredibly young blockchain space. We believe that as a group we have lots we can offer to the blockchain world, making joining up to the EOSIO-space a clear choice.

The main difference that a blockchain venture will face, compared to a non-blockchain venture, is that this is an open source world where direct competition is not always the right path forward. Two Block Producers, while both vying for the same pool of votes, are facing a drastically different competition scenario than two coffee shops that open up next door to each other. We call this collaborative competition. We each get better together, both being able to provide more to the end user, and we progress the space as a collective rather than as individuals. There is a lot of sharing of tools, resources, knowledge, and information access.

Within EOS specifically, it is impossible for a single team to be the best at everything. Since everything is brand new, most of the fundamental tools are still being built. For example, we at EOS Canada noticed an urgent need for a streaming API service, which we are building called dfuse (available at dfuse.io). This tool will give other teams the ability to build better dapps, more reliable wallets and explorers, and more robust interfaces for extracting data from the blockchain. It allows everyone to focus on their strengths, rather than trying to stay afloat while trying to keep up a little bit on everything.

When first deciding to enter our candidacy as a Block Producer for the EOS network, we wanted to ensure that we had the ability to keep ourselves solvent for a long period of time, whether we were getting paid as a Block Producer or not. We made sure that we had enough of a financial runway to be a productive and supportive community member to build tooling for the network as a whole, other Block Producers, and the end users as well.

When first deciding to enter our candidacy as a Block Producer for the EOS network, we wanted to ensure that we had the ability to keep ourselves solvent for a long period of time, whether we were getting paid as a Block Producer or not. We made sure that we had enough of a financial runway to be a productive and supportive community member to build tooling for the network as a whole, other Block Producers, and the end users as well.

Late November, Bitcoin had a downward breakthrough, the market price crashed down to $4000 level. The rest of the crypto-currencies followed, including EOS. If $6 was still somehow a comfy zone for most of the EOS BPs, $3 EOS really brought the whole community back to the reality — a severe winter.

However, if we ignore the stupid market price, EOS has actually done magnificent job over the past year. From the pre-launch to the launch, from the infrastructure to the dApp ecosystem development, we have achieved what many other public chains couldn’t even imagine.

It was a busy year for HelloEOS too. In order to grow the community, our footsteps have almost covered the entire China. Online and offline, we presented to millions of people how great EOS is and what the reasons are.

Let’s make the long story short, everything you want to know about HelloEOS in 2018 is under the following link: https://steemit.com/blockchain/@helloeos/helloeos-we-are-building-the-ecosystem-in-real-earnest.

For the future — bearish or not, we will still mainly focus on developing the EOS community size in China, supporting and educating the community by cooperating and collaborating with various entities.

Like EOS Canada mentioned above, an entrepreneur must understand the unknown challenges and risks ahead and be ready to deal with what’s coming. HelloEOS already prepared the backup saving to survive this winter. However, we still believe it’s more than necessary to create extra cash flows — a larger war chest is a better war chest.

Well, we are currently exploring possibilities on participating various projects, government-drove programs. We actually had a brief conversation with EOS Cafe Block when their BD manager — Maria Cho came and joined the government meeting.

And retail selling might also help:

HelloEOS Customized hoodie — 为人保守(An old-fashioned Guy)
HelloEOS Customized hoodie — 奶里有毒(Jinxed)

Oh well, when talk about extra cash flows, it’s time for some imaginations. We will share with you guys more of our thoughts and activities whenever it’s ready.

Brace yourselves, the winter is here.

= END =

Block Producer Account Name: helloeoscnbp

Location: China

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Grow the Community and Support the Ecosystem. Embrace EOS and Embrace the Future. Block Producer ID: helloeoscnbp