BMCHAIN is testing token adoption in Russia. The project raised $1,564,897 through its ICO, and Business Molodost, which helped launch it, accepts BMT as payment for courses at discounts reaching 50%.
BMCHAIN is testing token adoption in Russia. The project raised $1,564,897 through its ICO, and Business Molodost, which helped launch it, accepts BMT as payment for courses at discounts reaching 50%.
Roman Moiseyev, CEO of Analytics Insight and a BMCHAIN co-founder, explained the opportunity. "The decision to accept tokens as payment is a rarity in the Russian market. The turnover of Business Molodost courses for the quarter exceeds $4,346,936. Even if 20% of people would like to accept tokens, BMT will become a very liquid and probably profitable instrument."
Business Molodost connected BMT to more than 30 courses that reach 45,000 students each year. The play is straightforward: establish token demand in circulation, then recruit other businesses to accept it.
The interest has been substantial. BMCHAIN's partnership department fielded 3,500 applications from organizations and individuals. Five companies have committed to accepting BMT tokens: Coffee and the City, VillaCarte, Kinokwest, Parsit, and Art Estate.
"We've invested in BMCHAIN at the initial stage. This platform will help us to reach a new level of transparency in relations with customers, friends, partners and guests," said Egor Matyukhin, real estate manager at Villa Carte.
Over the next month, BMCHAIN intends to sign agreements with merchants across coffee shops, real estate, trading platforms, IT services, rental companies, retail, and education. The site bmchain.io will list all participating merchants.
BMT tokens began trading on HitBTC following the ICO close. BMCHAIN is negotiating listings with other major exchanges. The team reports that the ICO succeeded and provided sufficient capital to execute the project roadmap. Weekly progress reports indicate development is on track and ahead of schedule.
The platform's browser client supports post creation, commenting, voting, and charging for content. Engineers are building out reputation and token distribution mechanisms.
BMCHAIN plans media pushes with major outlets to drive adoption after the HitBTC listing, and is discussing educational content with industry experts. The team is planning a flashmob of thousands and a "Real Blockchain" course series to teach cryptocurrency and blockchain technology.
Analytics Insight, the developer of BMCHAIN, is also building a separate tool: an ICO constructor that lets users launch a token and ICO in three steps. That tool will integrate into the broader BMCHAIN platform.
