We picked up speed during Jul 2020 with some new liquidity and video tutorials as well as other work that has not been released yet.
Who is BCH Latam?
We are Bitcoin Cash Latam. We have a long-term vision and detailed plan to grow Bitcoin Cash awareness and use in Latin America through a bowling pin strategy of merchant adoption, remittances, B2B buying, international trade and more.
BCH Latam is in this to kickstart the Bitcoin Cash commons in Latin America, provide superior value to the developing world through BCH and eventually make Bitcoin Cash the international currency of Latin America.
Jul 2020 Results
Our goal with digital marketing is to provide a steady presence for Bitcoin Cash in Latin American markets, and to teach people how to use Bitcoin Cash right now to do interesting and useful things.
- 1 promotion of a new BCH liquidity integration.
- 6 video tutorials published:
- How to install the Bitcoin.com Bitcoin Cash wallet on Android
- How to create an account at local.bitcoin.com
- How to buy Bitcoin Cash with a credit card at local.bitcoin.com
- How to make non-presential BCH payments with the Bitcoin.com Bitcoin Cash Android wallet
- How to deposit BCH into your local.bitcoin.com account
- How to back up the Bitcoin.com Bitcoin Cash wallet on Android
- 1 video capsule for social media about the organization BCH Latam.
We aim to forge alliances with higher-level businesses, liquidity providers and others with whom we can partner win-win to bring Bitcoin Cash to more people.
- 1 new liquidity provider onboarded to local.bitcoin.com.
- 1 combo remittance promotion in Venezuela with Vimas Store.
- 1st combo remittance promotion offer posted on local.bitcoin.com and read.cash.
We affiliated 1,304 merchants across 8 nations and 20 cities during 2018 and 2019 for another cryptocurrency. We are working on re-activating our merchant base.
- 51 new approaches to merchants, 30% of whom responded until now and 6% of whom we are in the process of affiliating. Objections included questions about security, legality and volatility.
BCH Aid is a project we started while working for another cryptocurrency in 2019. It aims to enable direct, cross-border giving to non-profit organizations across the globe using Bitcoin Cash.
- 20 foundations contacted.
- 5 new foundations with a BCH wallet downloaded and verified.
- We organized and participated in a panel discussion “Bitcoin Cash en Español” as part of the BitcoinCash.org Aug 1 2020 ForkDay Anniversary livestream. (Due to a YouTube issue, the video is not available at this time.)
- We printed the marketing materials required for merchant adoption, including merchant acceptance stickers, recovery phrase cards and merchant flyers.
In Jul 2020, we made the following expenditures in Bitcoin Cash.
This represents a 14.7% increase over Jun 2020 due to miscellaneous expenses which had accumulated over 2 months, and the printing of marketing materials.
The miscellaneous expenses are broken out as follows. Amounts are in COP (Colombian Peso). 1 USD = ~3800 COP.
We made the following expenditures in fiat over recent months as well. These were reimbursed from our USDC holdings.
I, George Donnelly, have drawn no compensation yet from the BCH Latam project.
The team’s BCH holdings are in qr7arscg92fm3u0sld47xzw9hjpn7gqn95g4vqxx8k and total 12.05340159 BCH.
We also hold 1,919.50546712 USDC at 0x31a388C72147479f6C1235fC4C21F605567df6A7 that we bought as a hedge around the time of the coronavirus crypto crash.
Total liquid assets at this time with a price of 1 BCH=$292.91 is: USD$5,450.07.
Given our monthly burn rate of ~$1,165, this means we have about 4.7 months of funding on hand.
To finance our business plan, we are running a token-crowdfunding sale. Our token is PAN. PAN has a fixed supply of 400,000 and so far we have sold 4,151, or 2.3% of the total first-round sales goal of 180,000 tokens.
Selling the full 180,000 tokens should enable us to reach profitability or near-profitability on our business plan.
Want to join our token sale? Full details at BCHLatam.com/crowdfunding2020.
We have faced a couple major challenges as we transition from what we did for Dash for 16 months 2018-2019, which was tremendously successful, to doing even more effective things for Bitcoin Cash. These include the following.
- We wanted to raise about USD$550,000 to finance our business plan, which was borne from about 2 years of market research and experimentation. But we have only raised about $14,000.
- As we fell back to our secondary plan as detailed at our crowdfunding page, the coronavirus hit. The governments of Colombia and Venezuela, where we primarily operate, have been especially draconian in their application of lockdowns, resulting in the mass shuttering of small businesses, which make up the majority of our contact database.
Given this, we are focusing more on e-commerce merchants, liquidity alliances, online media and the creation of apps that utilize our PAN token while adding value to end users.
One such app concept is BCH Aid. As noted above, BCH Aid enables direct, cross-border giving to non-profit organizations across the globe using Bitcoin Cash. We expect this to open the doors for both donors and NGOs that otherwise would not be able to find each other.
As NGOs receive donations in BCH, their need to spend or sell their BCH organically bootstraps the next level of adoption, which is merchants and P2P exchanges, respectively.
In this way, we can make progress towards solving the inflows challenge, provide sellers for new P2P liquidity providers to start profiting from and spark the liquidity required to launch BCH remittances.
Further, donors will need to buy BCH in order to donate in the first place, and this can spark demand for BCH OTC, at ATMs and at exchanges.
Finally, we could take say 0.5% to 1% of all donations in order to generate a profit on the site, which would have low overhead, and pay an appropriate portion back to PAN token holders.
Our Focus Going Forward
So our focus going forward is as follows.
- Digital Marketing: teaching media, especially video tutorials.
- Business Development: e-commerce merchants, liquidity integrations.
- Remittances: more combo remittances.
- Apps: such as BCH Aid, and others along the same line of thought.
Merchants are not on this list because the governments of Venezuela and Colombia have clamped down hard again on commerce, after a liberalization in May and June, and therefore we can’t guarantee results on the merchant front until this situation changes.
Thanks for your attention, patience support.
Thanks to the team for your patience under difficult circumstances.
Want to talk? Reach out any time!
Bitcoin Cash Business Development, Marketing & Adoption
+573218423668 (cell, Signal, Whatsapp)