AccuChain in 2020
After a great beginning, AccuChain enters 2020 with our growing team and community that believes in our blockchain Validation Platform. We thank everyone for their ongoing support, feedback, introductions and cheers. We enter this new year and decade with great hope and optimism that we can make a real difference in the lives of students applying to college and applicants in the job market — improving the admissions process for colleges and hiring managers at companies.
AccuChain was founded in 2019 as a US-based corporation incorporated in Delaware. We are developing a blockchain platform to authenticate achievements of users by ‘trusted’ third parties, and storing those authenticated records on a blockchain for retrieval by college admissions officers or hiring managers.
The genesis of our platform came during the college admissions scandal in the US. When achievements aren’t validated, information is not always accurate. We soon realized this problem is pervasive in the job market, too. College accomplishments and degrees are often misrepresented. Hiring managers will benefit if achievements are validated before a job offer. Bad hires are very costly to companies. The average cost of a bad hire is 30% of the employees first year earnings.
AccuChain can solve both of these problems.
We also expanded our target market in two directions: 1) our background validation will now be designed for all professionals at any level, and 2) our platform can be used by users outside of the United States as well as domestically. Brazil is our first international country of interest and we have heavy interest from China and India.
Our Angel fund raising round is now active with a proposed close date of February 15th, 2020. The well-known, Silicon Valley law firm with offices globally, Pillsbury Winthrop Shaw Pittman, is our corporate law firm and is assisting us with our equity sale project. We are currently raising our seed round. AccuChain’s Whitepaper and investor deck are available to accredited investors.
In December, we completed a survey of 100 U.S. college students and saw very encouraging results. Over two-thirds of the respondents indicated that they were positive about the AccuChain platform. Also, two-thirds of the respondents were willing to pay for our service which confirms our business model. AccuChain will offer a “free” version of our Validation Service as well as our Paid version.
A revised marketing website went live in November 2019.
A U.S. college ‘Early Adopter Program’ was initiated in Q4 of 2019.
Educational partners are:
· Incubatec at Federal Rural University of Pernambuco — UFRPE (University Incubator in Brazil)
· Escola Estadual General Sylvio Raulino de Oliveira (High School in Brazil)
Business Partnerships are:
· Vibook, a blockchain-based social knowledge-sharing network
· NULS, a blockchain ‘eco-system’ where we placed in their Hackathon
Our Advisors reside in Brazil, China and New Zealand. We are actively promoting our company in these areas.
Key 2020 Targets and Dates
· Our MVP ‘Go Live’ date is expected in late Q1.
· Our initial MVP release will be in English, and localized in regions of interest.
· The AccuChain team is being expanded — a new Business Development executive is expected to join us by the end of January, and we are expanding our technical team.
· We are also expanding our community team throughout the world in other parts of the world including: Europe, Africa, the Middle East, India and other parts of South Asia and Latin America.
· We are expanding our Advisory Team throughout the world with expertise in blockchain, business development, investor relations, marketing and growth strategies.
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