Q&A with Phore Chief’s
1. What are Phore Core backgrounds? How this is helping Phore?
Michael: I have been in technology for over 25 years, primarily working at very large consulting firms, doing work for Fortune 500 clients. Over the course of my career, I’ve done more work for financial services clients than for any other industry, but I’ve also had many clients in other industries, including consumer and industrial products, pharmaceutical and other healthcare, transportation, and government.
I also left consulting to help found a payment related Software as a Service startup, leading the development team to build a system that currently processes over $3 billion in payments per month. That company went on to do a successful IPO and was later acquired for over $500 million.
My background helps Phore in many ways. I know how to build commercial quality, large, scalable, and secure payment systems, which includes everything from formulating and communicating our technical strategy, evaluating and selecting the best architecture, and creating and managing high quality software development processes. I know how to manage teams up to 200 people working on multi-million dollar programs that involve many parallel projects. I know how to operate in everything from a startup with a handful of employees to the largest corporate environments in the world. I have experience negotiating mutually beneficial partnerships and 3rd party vendor agreements. I have interviewed and made hiring recommendations for hundreds of technical positions and know how to find, select, hire, and retain talented people.
Thomas: My formal education lies in Business, Math and Economics however I always had a passion for technology. This lead me into my (entrepreneurial) background within the esports and gaming industries in which I’ve founded and owned many successful businesses, teams and organisations.
Networking, work ethic, patience….etc.
I learnt many skills during my time within esports, however the one which stands out as being extremely valuable to Phore is the ability to ‘market’ an emerging industry (in this case crypto rather than esports) to real world companies who may never have thought about entering it.
Anthony: I come from a creative background, however this is also in terms of management, where structures in terms of leadership and diligence are similar. I started in this field as an analyst and researcher and slowly became more and more interested in what was an unknown and nascent feel. Because of this I feel I have developed the necessary skills and experience to be one of the leaders at Phore Blockchain.
In my opinion, people from diverse backgrounds make an organisation better. The quality we all share is that we are all restless in our objective to make Phore a major player within the Blockchain and Cryptocurrency industries.
2. How you got into crypto?
Michael: My first purchase of cryptocurrency was when Bitcoin was priced at $400. I became more interested in cryptocurrency projects after some family members became involved in the industry, while at the same time blockchain was becoming a much larger topic of discussion and interest with my consulting clients. I did more research to increase my own understanding, and my interest grew from there.
Thomas: Crypto for me was natural progression really. With my background in Business, Math and Economics and love of technology, financial technology seemed right up my street — as soon as I read about bitcoin I was sucked down the rabbit hole.
Anthony: As I said I was researching at the time, looking into writing a film about a Bitcoin heist that would have been terrible. That project is now abandoned. However, it led to me seeing that a different, underground world was being born and the excitement of being part of something dangerous and wild drew me in and kept me up until this day.
3. How you got involved with Phore and how you ended up in the positions you are currently in?
Michael: I came across Phore initially as an investor — I was intrigued by the passive income aspects of staking and masternode projects, and Phore had just been launched as a rebrand of KryptKoin at the time and I thought they had a great combination of technology, coin economics, and a really positive and engaging team.
In terms of my position at Phore, I initially volunteered to contribute to Phore development, helping with the Phore Marketplace application. The team welcomed me as a developer, and as we got to know each other, I contributed more to the leadership and management of the project including our roadmap and whitepaper among other things. The team then asked me to take on the position of CTO, and I thought that with my background and experience I could really make a difference in Phore’s success, so I accepted.
Thomas: I didn’t found Phore nor was I involved upon its inception. I was attracted to the idea of the Decentralized Marketplace (the ideas have quickly grown), the energy of the people involved and the ‘feel’ of the project overall. The team handled themselves with class, got their heads down and got things done.
Initially, I offered ideas as a community member, turned advisor for the project (based on my background, experience and head for strategy) and progressed into the role I hold now alongside Anthony.
Anthony: I got involved with Phore because I was looking for a project which was different from all the other altcoins I’d researched. Also, the people involved were extremely tenacious and driven, something that was not normal amongst the other coins in terms of management.
4.What are the biggest obstacles for Phore Core?
Michael: Phore has great technology, and the new architecture we are working on will elevate us to a completely new level, far surpassing the capabilities of most other cryptocurrencies. Our decentralized applications give us more utility and potential for real world usage than most competing projects. I see one of our biggest obstacles as the battle for attention and usage.
We are not satisfied by having the best technology and applications — we want millions of people in countries all over the world to be using Phore’s platform and applications, every day.
I think we have good strategy in place to achieve this, through a combination of developing innovative and useful features, creating a world class, superior user experience, and executing a superior marketing strategy to attract and retain developers, businesses, and end users for Phore’s platform and solutions.
Anthony: Introducing our smart contacts, which will bring functionality that other platforms do not have. This is a huge strain on resources and something which we will carefully have to balance. We want to ensure that we bring innovation that doesn’t overstretch us during the process.
5.What have been the biggest challenges that Phore Core have faced?
Michael: I think the overall bear market for cryptocurrencies has created challenges in terms of growing our user base in the mainstream. I think Phore has done well in retaining our core user community — one way we measure that is by the number of masternodes we have on the network, which has remained steady or growing throughout the ups and downs in the market. I think we’re well positioned to keep growing our user base, and to dramatically increase adoption as our new blockchain platform and applications are launched.
Anthony: The bear market which has lasted for the majority of 2018 has been extremely hard on our available resources and reserves. However, we have found a way to cope with this and have huddled down and continued to work on delivering our roadmap.
6.What would have Phore Core done differently?
Anthony: Nothing. I wouldn’t have learned as much as I have done otherwise.
7.Biggest learning for Phore Core?
Anthony: Ignore the noise, stick to your principles.
8. Who do you admire the most in crypto?
Anthony: The people at Phore Blockchain.
9. How has Phore managed to fund operations with a team of +20 members, without a pre-mine or ICO for funding means?
Anthony: Future Vision.
We have Block Rewards which have been voted on by Masternode Holders. It has also meant that we have had to economize and let certain staff go, we would have liked to have kept hold of in more ideal circumstances. In terms of a future vision, now that we have learned to operate like a bootstrapped start-up, we are now well equipped to deal with whatever else is thrown at us in future.
10. Plans for other exchanges?
Anthony: We’re in talks with a number of them. NDA’s mean we can’t specify which ones.
11. Recently roadmap was updated, what and how things will be done differently to achieve these targets?
Anthony: We are now utilizing an agile roadmap as opposes to one with a fixed deadlines for features.
This allows us to devote resources to projects on a more realistic level, meaning that in theory certain areas could be delivered ahead of expectation.
12. Is Phore vision been accomplished? How we getting there?
Anthony: No, not even close. It’s ongoing, and we are making good progress. The learning process that we’ve been through has made us more focused on delivering real solutions, that will make a change in peoples’ everyday lives.
13. What is Phore Core’s perception of current state of crypto, and what you guys think the future of crypto would look like?
Anthony: Right now, we’re seeing a market correction. A lot of ICO projects have taken big hits in terms of value and this could jeopardize the delivery of their technology. In future there will be less coins that are facsimiles of each other, leaving those coins behind that have utility and purpose and which will become known in broader society.
Our team is not only doing the talk, but also walking the walk, below just a few talks about Phore’s walk:
- Partnership with COTI. Both will be exploring various partnership opportunities that may include decentralized applications, such as the Phore Marketplace, and opportunities with Phore Synapse Smart Contracts.
- Phore Blockchain won an epic battle in the popular MasternodeMeBro18 contest to win the “Champion” title.
- Began closed beta testing of the new Phore wallet featuring an entirely new User Interface (UI).
- Phore Synapse development is rapidly progressing as we implement the Ethereum Shasper spec for building a sharded, CASPER blockchain.
- Partnered with Blockfolio Signals. You can now get project updates directly from the executive team through this crypto portfolio management app.
- Anthony Alleyne will be attending the Malta Blockchain Summit, November 1–2, 2018.
If you want to learn more about Phore, check below resources:
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I have been strategic advisor at Phore since April 2018, I have done my research and due diligence on the project, I am convinced that Phore will be a success; but you should not trust what I am writing here as I am convinced already.
This is not a financial advise and you should do your own research on Phore before investing on it, and understand if you are willing to lose this investment, as there is always risk in innovative markets as, technology, fintech, and cryptocurrencies, due to regulations, geopolitical issues, and what not.