As 2023 reaches its midpoint, we pause to reflect on the eventful developments within #CryptoPH. The industry, rebounding stronger from 2022 and witnessing a fading bear market, has had a dynamic first half.
Today, we bring you an exclusive mid-year review from Philippine web3 venture firm — BayaniChain. Through Paul Soliman, Co-Founder of BayaniChain, the company shared insightful details about their significant wins, challenges, and future plans.
All photos either provided by Paul Soliman or from his LinkedIn page.
BayaniChain Mid-Year Review: Key Wins in 2023
What key partnerships, product launches, or strategic decisions would you consider as your organization’s significant wins in the first half of 2023?
Winning a government project to tokenize specialized documents using Bayanichain (BYCAccess) and partnering with Gcash for the Ohlala project are indeed significant wins. In the first half of 2023, the following key partnerships, product launches, and strategic decisions could be considered as your organization’s notable achievements:
Government Project Win: Securing a government project to tokenize specialized documents demonstrates recognition and trust. This partnership not only highlights the potential of BYCAccess but also showcases the ability to address critical needs and provide innovative solutions in the public sector.
Gcash Ohlala Project Partnership: Partnering with Gcash for the Ohlala project signifies successful collaboration with a prominent financial service provider. The project’s focus on onboarding normal collectors and non-web3 natives, this project showcases BYC and GCash’s effort to bridge the gap between traditional users and decentralized technologies. This partnership opens new avenues for mainstream adoption and expands the reach of Bayanichain and Likha
Product Launches and Enhancements: The first half of 2023 may have seen notable product launches or significant enhancements to BYCAccess. These releases could include new features, improved user interfaces, or enhanced security measures. These product developments showcase BYC’s commitment to continuous improvement and meeting the evolving needs of users and partners.
Addressing Challenges: BayaniChain Adaptive Strategies
What were the primary challenges your organization faced during the first half of 2023, and how did you address them?
Product and Onboarding due to technical complexity:
Bayanichain is facing difficulty in effectively explaining the concept of a layer 3 blockchain to potential clients. The complexity and technical nature of layer 3 blockchain technology make it challenging for prospects to grasp its value and potential applications. This lack of understanding hinders Bayanichain’s ability to communicate the benefits and unique selling points of their layer 3 blockchain solution effectively.
Bayanichain addressed the challenge of explaining layer 3 blockchain technology by developing clear and concise educational materials and communication strategies. By breaking down complex concepts into more accessible language and visual representations, Bayanichain enhanced its ability to effectively communicate the advantages and potential use cases of layer 3 blockchain. Additionally, engaging in interactive demonstrations, workshops, and one-on-one consultations with prospects allowed us to provide hands-on experiences and address specific questions or concerns, facilitating a deeper understanding and increasing the likelihood of successful adoption.
Improvements and Metrics: Comparing 2023 with Previous Years
Is there a specific metric that has significantly improved in the first half of 2023 compared to the previous year?
In the first half of 2023, we have seen a significant improvement in user engagement and won B2B deals,
To achieve this improvement, we implemented several strategies:
Targeted Outreach: We conducted targeted outreach campaigns to reach out to businesses and government organizations, highlighting the benefits and potential use cases of tokenization and blockchain technology. By specifically tailoring our messaging and outreach efforts to these entities, we were able to generate more interest and engagement.
Use Case Imagery: By encouraging businesses and government organizations to imagine their own use cases for tokenization and minting on the blockchain, we sparked their creativity and fostered a sense of ownership in the process. This approach resonated well with our target audience, leading to a higher response rate and increased engagement.
Strategic Partnerships: We forged strategic partnerships with key industry players, government agencies, and relevant organizations. These partnerships allowed us to expand our reach, tap into their networks, and leverage their expertise to drive awareness and adoption of our tokenization solutions.
Future Trends and Technologies: BayaniChain Future Outlook
Which emerging trends or technologies in the crypto space are you most excited about or planning to incorporate into your future strategies and why?
We are focusing more on modular blockchain because we are really serious about building a unified blockchain infrastructure for PH and SEA
Goals and Plans for the Second Half of 2023
What are your company’s primary goals and plans for the second half of 2023?
In the second half of 2023, our company is doubling down on the development of BYCAccess to provide an enhanced onboarding experience for our users. We understand the importance of smooth and seamless onboarding to drive user adoption and engagement. Here’s what our audience, users, and followers can expect from us in the next six months:
Streamlined User Interface: We are revamping the user interface of BYCAccess to make it more intuitive, user-friendly, and accessible. Our goal is to ensure that new users can easily navigate the platform and quickly understand its functionalities.
Enhanced Documentation and Tutorials: We recognize that clear and comprehensive documentation is crucial for a smooth onboarding process. We will be creating detailed guides, tutorials, and videos to help users understand the features and benefits of BYCAccess. These resources will provide step-by-step instructions and use cases to help users get started.
Improved User Support: We are investing in expanding our customer support team to ensure prompt assistance and guidance to users during the onboarding process. Our support channels will be readily available to answer questions, address concerns, and provide personalized support when needed.
Demo Sessions and Webinars: To provide hands-on experiences and foster deeper understanding, we will be conducting live demo sessions and webinars. These interactive sessions will allow users to explore the features of BYCAccess, ask questions in real-time, and receive guidance from our experts.
Collaboration and Feedback: We highly value the feedback and input from our users and community. We will actively seek feedback through surveys, user testing programs, and community forums. This feedback will be crucial in driving continuous improvement and addressing any pain points or challenges faced during onboarding.
Our primary focus in the second half of 2023 is to ensure that BYCAccess offers a seamless and user-friendly onboarding experience. We are committed to delivering a platform that simplifies the adoption of our services and empowers our users to leverage the full potential of our offerings.
For Likha and Rwards:
Unified Access and Management: The integration of Likha and Rwards with BYCAccess will provide users with a unified access point to both platforms. Users will be able to conveniently navigate between Likha, Rwards, and other BYCAccess features, all within a single interface. This unified access streamlines user interactions and simplifies account management.
Localized NFT Marketplace: Likha, the localized NFT marketplace, will offer a wide range of region-specific digital assets, collectibles, and artworks. With the integration, users can seamlessly discover, purchase, and sell NFTs directly from their BYCAccess account, expanding the reach and accessibility of Likha’s marketplace.
Loyalty Programs and Rewards: Rwards, our loyalty platform, will provide integrated loyalty programs, ticketing services, and membership benefits within BYCAccess. Users will have the opportunity to earn loyalty points, access exclusive events and experiences, and redeem rewards seamlessly through the integrated platform.
Enhanced User Engagement: The integration of Likha, Rwards, and BYCAccess aims to enhance user engagement by offering a holistic ecosystem. Users can participate in Likha’s NFT community, earn rewards through Rwards, and access other BYCAccess features, all in one place. This synergy encourages users to explore different offerings, increasing overall engagement and enjoyment.
Seamless Transaction Experience: Users will experience a seamless transaction flow when engaging with Likha and Rwards through BYCAccess. They can conveniently purchase NFTs, manage memberships, redeem rewards, and access ticketed events within a unified environment, providing a frictionless user experience.
Continuous Improvement: We value user feedback and will actively listen to our audience to enhance the integration. We will analyze user behavior, gather insights, and iterate on the integration to improve usability, performance, and overall user satisfaction.
For Further Reading
This article is published on BitPinas: BayaniChain Mid-Year 2023: Highlights and Outlook
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.