Akash Investor Update: March 2018

Hello all!

The team is hard at work and driving forward on multiple fronts to deliver on our product, fundraising, and engagement goals. Transparency is one of our core values, so I’ll be updating the Telegram channel periodically with what we’re doing, what we’re learning, and the progress we’re making.

Legal

Increased SEC scrutiny of ICO issuers has prompted additional diligence on our part to ensure that we are in compliance with current regulations and well-positioned as regulatory regimes evolve.

We’re working toward filing a Form D for exemption under Regulation D’s rule 506(c). This will allow us to broadly solicit the offering for accredited investors and will require us to take reasonable steps to verify accreditation.

Fundraising

We’re targeting early April to begin our public presale. Interested and accredited investors can register for the presale via our whitelist form.

We’ve adopted an omni-channel approach with our organic channels accelerated by paid channels, beginning with an email campaign to our 1.5k member email waitlist, then a strong PR push with strategic placements complementing a road show.

Product

We’ve hit our stride with development of our blockchain marketplace and have had a series of internal demonstrations of its functionality. Our first public milestone will be the release of an open source repo containing an easily-deployable minikube environment that simulates several providers interacting with the client on the following workflows:

  • Client creates deployment
  • Providers bid on deployment
  • Winning bid establishes lease between client and provider
  • All transactions written to our native chain, with providers as delegates

This first milestone is intended to provide the public with tangible artifacts that both demonstrate progress and build credibility in the community.

Website and whitepaper

This week we launched a new site, designed to clearly communicate Photon Network’s mission as a decentralized marketplace for compute, as well as how the platform functions to achieve that mission. We coordinated a major revision of our whitepaper (presented as a primer/light paper) with the site changes, with the same goal of clarifying and driving home the network’s mission and functionality.

Rebranding

We plan to rebrand Photon with a name less likely to conflict with existing Photon blockchain projects – see both Cosmos and PHO.

We’ve worked with a professional branding consultant, currently have three solid name candidates under trademark review, and look forward to relaunching with our new name in the coming weeks.

Upcoming appearances and recent press coverage

I continue to speak almost every week before large and small groups. Recent and upcoming appearances include:

  • SXSW, March 10: I’m moderating the crypto investor panel with Jeremy Gardner (Augur), Jaclyn Santos (Investor), Jolly (CyrptoLotus), and Richard Li (AlphaBlock). A diverse group of investors with varying investment theses discussing on their origin stories, how they look at the deal and the future of cypto investments. We’re also hosting the after party the same night. More details on the event page.
  • SXSW, March 12-13: We’re hosting the CryptoFriends summit and the after party. More details in the press release.
  • TokenFest, March 15-16: We’re sponsoring TokenFest in San Francisco. More details here.

I was interviewed by Keith Koo for Silicon Valley Insider, discussing my history, “legendary” status, and the Photon Networkhttps://omny.fm/shows/the-silicon-valley-insider-show/sv-insider-3-2-18-podcast

Photon was also mentioned in the Next Web’s piece on future web technologieshttps://thenextweb.com/contributors/2018/02/14/cloud-computing-will-change-2020/

Finally, thanks for being part of the Photon community and helping us drive our mission of open, decentralized internet infrastructure!

Greg and the Photon Team

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