Monthly recap: August

We are happy to present to you our first official monthly recap!

 

Korporatio aims to create a new generation of cutting edge, truly global businesses, led by entrepreneurs who are citizens of the world. A new era in which everyone is empowered to incorporate, innovate and realise their dreams.

 

DEVELOPMENT

In a blockchain startup market full of products “in development”, we are delighted to present to you the details of our live update to version 1.1.

This rolls out two major updates and an improvement requested by our clients:

1. Private dApp 

Each dApp is now private, meaning that even if you get the URL to one specific company, you will not be able to see anything that is happening inside it until you are approved as a member. This feature is extremely important and it took us quite some time to deploy, as it required some major changes to the code structure. 

2. Sustaining our model

We have fully implemented our administrative fee structure directly in the smart contract. This ensures that Korporatio’s business model is sustainable and that we can keep on developing and maintaining the smart contracts! The model is quite simple; each time you transfer a share, you will pay a administration fee of US$ 0.002. Yes, that is 0.2 of a cent, which we think it is an extremely low service fee to have, and will not affect the usage of the platform. As many companies have over 100 million shares, we decided to give the first 10 transactions for free. This way, each owner can fully set up the company and make an initial share distribution, free of admin fees.

3. UX optimisation

We have made some minor UX changes as a result of user feedback. In our previous version there was no communication from the dApp to the user, meaning that before approving a transaction only the small notification icon on the Metamask icon was presented. Now, the dApp will actually talk to you and let you know if you need to approve the transaction, if the transaction is on its way, etc. UI/UX feedback like this is truly welcome and we are pleased to show we listen to the Korporatio community. It will take some time to fully optimise the design, but with your feedback, we will get there.

MARKETING

To date, our focus has been on the product – but marketing starts now. From September, you will start to see our marketing… Meanwhile, for this monthly recap, we have 3 key points to mention:

1. Marketing Strategy

We have finished our marketing strategy. This includes a bit of the general things that we need to do, the type of funnel that we want, the missing resources that we need to add to the team to make it happen, and all the processes and steps that we will need to follow to create a good brand. You will see the results and the effort every time a new puzzle piece is added.

2. Twitter account

We have launched our official Twitter account! Yes, from today you can follow us at https://twitter.com/korporatio or just mention @korporatio on twitter. It’s a small detail, but I’m extremely happy nobody has had the name ‘Korporatio’ before. This lets us keep it clean, even on social media. As our company is not a B2C business, our communications on social media will be more subtle than a consumer app, but we will try to be as interesting as possible. The main idea is to use Twitter as a brand and awareness channel and, of course, to monitor what is happening in the crypto space.

 

3. Discord

Internally we use Discord for communication and we thought it would be a nice idea to open a channel for everybody to speak direct with the team, join us here!

 

TEAM

We are not following a traditional business model and hiring a ton of full-time, in-house staff. Instead, we aim for a lean and flexible approach to ensure our runway cash lasts in this challenging blockchain startup climate.

Furthermore, we are hiring contract workers and paying weekly, and following a ‘fast hire – fast fire’ approach. This gives flexibility and a life balance to our hires, which means they can work from anywhere and anytime. This also protects us from hiring the wrong people. We hope to attract a solid base of driven, self-motivated developers and managers and to then agree longer term contracts.

We may not introduce you to people who are with us for just a few weeks or a month, but as we find the best, key people, we will update you in the next monthly recap.

One of our investors is taking a personal and active role on the strategy side, we have two new developers, one of whom already contributed some amazing lines in release 1.1, and we are currently in contact with a few marketers to execute the marketing strategy.

 

CLIENTS

If you are one of our clients, we’d love to showcase your venture in our next monthly recap or newsletter. Get in touch and tell us about your journey!

We incorporated 3 new companies in August, bringing us to 10 Smart Companies in total. With our planned marketing boost and a constantly improving UI, we’re expecting the numbers to take off by Christmas.

 

This is pretty much what we have been busy with. Do let us know what other kinds of information you would like to see in our monthly recap. We always love to hear from you, so feel free to reach out at future@korporatio.com at any time.