Dear Friends and Colleagues within the Das Community,
Let’s start by providing more insight on the Excelz situation. In forming the Das ecosystem, we chose to establish a system of separate companies located in different jurisdictions that work together to build value. As the founder of the Das ecosystem, it is of high importance to me that every entity is successful in doing the job it was designed to do within the ecosystem. To this end, I have been helping to guide Excelz from its introduction to our ecosystem in November/December of last year. Part of that guidance involved figuring out how best to grow the company. After some struggles during its initial months, one of my favored solutions was the idea of introducing a strong new executive team from TRM to take over the management of the Excelz company (this happened in early March). While working with the TRM team on the DasMarket initiative, I had become very impressed with the leadership capabilities of the core team, and so I inquired if there was an interest in taking our collaboration to the next level. Thankfully, they were interested.
In March, the Excelz ownership team was informed of the idea of introducing a new management team from TRM. The idea was embraced, and consequently, changes were then made to an existing Hong Kong entity, including changing the name to Excelz Ltd. This entity would represent the interests of the new management team and would contract with the existing Excelz operating entity, which is Corbilex Services Ltd and also based in Hong Kong [FYI: in response to a question that came up in TG, originally an attempt was made by the Belize-based parent company to establish the operating entity in Dubai, which is what was announced in December, but ultimately difficulties in finalizing the UAE process led to the creation of the current HK operating entity – there has always been a registered entity operating the Excelz brand since its introduction to this community in late November]. As progress on the collaboration with the new management team continued, a new variant of the Excelz logo (with a revised color scheme) was designed by this team and unveiled to the leaders gathered at the leadership summit last weekend in Bangkok. Top executives from this new management team were also introduced (and very well received) at the leadership summit and they had already begun working on a transition plan with Dean McQuillan, who was in negotiations with this team to stay on and work in a new role.
Then, just before (and even during) the Das Leadership Summit in Bangkok, several troubling issues came to light. These revelations led to friction with a leading member of the Excelz ownership team. After further analysis and deliberation, a decision was made to remove Excelz from the ecosystem and the announcement was made. Since that time, serious efforts have been made to work through the issues so that Excelz could possibly rejoin the ecosystem and continue its operations as originally planned. This would obviously be the best and most expedient outcome for all involved.
However, I also want to assure the community that if these issues cannot be amicably addressed and resolved with Excelz, steps will be taken to launch a new marketing company for the ecosystem. The growth of the Das ecosystem has come primarily from our passionate community of marketers who actively engage in spreading the Das message through this type of person-to-person communication. Consequently, the Das ecosystem remains firmly committed to offering our community the opportunity to represent quality products and be well rewarded for building business.
Clear Direction About Marketing Within the Next 14 Days
Within the next 14 days, either Excelz will resume operations or a new marketing company will be announced. If Excelz can successfully address its current issues, operations will immediately resume. In that case, the scheduled event in Bangkok for May 11th will likely be pushed later in May but will move forward. On the other hand, if the Excelz issues cannot be resolved and operations restored, then a new company will be announced, a launch date will be released and an international event will be planned for June. We know this community is talented, full of passion and wanting to build business! You can be assured that within the next 14 days, you will have clear direction about how to move forward with your marketing business.
Ecosystem Takes Care of Its Own
In the event that Excelz does not resume operations, I want to re-emphasize that the Das ecosystem companies will work together to ensure that satisfaction is maintained by all the customers, reseller and consultants of Excelz within our community. While this remains the legal responsibility of the Excelz companies, the ecosystem companies are committed to ensuring that our community thrives, even if one of the members of the alliance struggles to deliver. Consequently, I expect to make announcements in the coming days about the underlying products of the Excelz value proposition (SmartTools and Traveler) and how those customers and resellers will be handled. I am confident that whether with Excelz or a new brand, we will continue to offer exciting products and opportunities to our community and continue to deliver professionalism and outstanding customer service.
Cycles No Longer Part of Any Product Offering or Certification
Nonetheless, no matter what the outcome with Excelz, from this point forward, no company in the Das ecosystem will offer Cycles as part of its product offering, or even as a certification bonus (as was the case with Excelz). The ecosystem has reached a point in which any marketing company that joins will have to rely solely on the strength of its core product offering. There will be no further enticements offered involving minting elements, such as Cycles.
White Paper Revision is Coming
In light of a tweak to the Cycles model described above, it makes sense that we would publish a White Paper update. And sure enough, a revision of the DasCoin White Paper was scheduled for publication on the second anniversary of DasCoin on March 31st, but will be delayed slightly. Attendees of the Das Leadership Summit gained insight into why the publication of that revision is sliding into the 2nd Quarter of 2019. The information related to this is too involved for this forum, but suffice it to say that a revision is underway and expected to be published to the community within the next several weeks.
AlliancePay Update: Over 5,000 Successful Transactions
It is with great satisfaction that I can report the AlliancePay program has this week conducted its 5,000th payment card authorization since the inception of this Proof of Concept in Barcelona last June. At present, we have cardholders on six continents who are conducting payment card transactions in more than 30 currencies, clearly benefitting from the unique payments utility that we have innovated. The solution continues to enable payments at a wide range of merchants across the global economy, including transportation, restaurants, retail stores, charities, government services, utilities, online shopping, and many more.
Some of these transactions are even contactless transactions, an important capability that plays into the additional payment utility solutions that we are developing and will be announcing in the future. Payments and rewards solutions will play an increasingly important role in our community moving forward, and allow us to derive value from the paytech competitive advantages we enjoy relative to other digital assets in the industry.
Proof of Concept Card KYC Deadline
To further our innovation and fulfill the obligations of our AlliancePay Proof of Concept, we are now moving into the physical production of the final batch of payment cards for those in our initial group of 500 proof of concept cardholders. To best serve the community and comply with applicable regulations, please make sure you have uploaded current KYC documentation in your DasWallet so that these remaining payment cards can be distributed as soon as they are received. We would like all KYC documentation to be uploaded to DasWallet no later than the end of Thursday, April 11 (that’s tomorrow!), so that card production can be finalized with distribution to follow.
Following the distribution of these final payment cards under the Proof of Concept, we will be announcing more details regarding the distribution of payment cards under the commercial card program, an opportunity for our community at large to receive payment cards and experience feature-rich payments innovation. More details coming!
Update on STORC coming soon…
Talking with Paul Flynn, and will get back to everyone on Saturday.