An open letter to Factom Inc.

    Home / r/factom / An open letter to Factom Inc.

An open letter to Factom Inc.


Hello Factom Inc.

One of your biggest supporters here. Below are my thoughts on the Factom community, a small group of people who want to be your biggest cheerleaders, but don't know what to cheer about. Your early adopters, the biggest and best advocates you could ask for!

The community wants FCT to get more exposure, however that happens. They want more people learning about Factom and joining the social media channels. The community has become very small, and the volume on the exchanges has also become worryingly low. Increased exposure, as you know, is an important piece for the success of the protocol. How to get that exposure, while respecting your enterprise clients' ways of doing business is a difficult one and I absolutely understand Factom Inc's approach.

Really, the community just needs some validation that we have found an amazing project with an amazing future, and aren't just tricking ourselves. I am sure that will come with time as developments are made — basically, Ethereum's success has been largely a result of their public exposure and the huge community that has driven that and built up around it. Factom seriously has the potential to be even more revolutionary than Ethereum, and to have even larger network effects, but if no one knows about it or has any reason to care about it, it will fail.

The world needs to know how amazing of a piece of technology Factom is, and how profound its success would be. If Factom Inc. can continue its path with enterprise clients, while also working out a way to enable viral growth of the community behind Factom, that will be what defines Factom as a true success. No decentralised project will succeed without stimulating and building genuine community, and Factom Inc. needs to find a way to balance its enterprise clients with its fundamental cryptographic protocol roots.

I would be so sad to see Factom fail because of a lack of exposure, and the ball really is in your court at the moment. Give the 100 or so incredibly dedicated community members you have something solid to take to the masses, to share and to build off, some real solid progress — to get people paying attention — and you will see exponential growth in the exposure Factom (and Factom Inc.) gets. Exposure is so critical, and with cut-through getting harder and harder in this space, time is of the essence.

In summary, we as a community don't have much of a story to share with the world right now, at least not one that includes the last 12 months. We need a story, a compelling one that will get people's attention; and I can't wait until you give us that. I know you are working very hard on M3 and developing community-driven marketing, and I can speak for the whole community when I say I am very grateful for the shift in strategy and communication from Factom Inc. since Paul came on as CEO.

Factom really can change the world in a profoundly positive way. To quote the man himself; "honesty is subversive" — and that is why I believe Factom will be a huge success, if enough exposure and community support is achieved.

One of your biggest supporters, FactomKiwi

submitted by /u/FactomKiwi
[link] [comments]
Source: Factom Discussions
An open letter to Factom Inc.