We spoke to Anthony Alleyne, Co-CEO of Phore Blockchain, a growing technology organization which has a democratic voting system within its community and has just launched a strategic b2b blockchain development services arm.
Can you let us know what Phore Blockchain is and what it seeks to accomplish?
Phore Blockchain is a global platform and digital ecosystem built to facilitate decentralized commerce through its supporting blockchain network. We seek to enable sophisticated decentralized commerce through a peer-to-peer marketplace that will launch at the end of this month. This will offer an ultra-low cost selling platform to merchants offering products, services and intellectual property, such as music, film, and artwork.
We are also offering custom blockchain creation and services to b2b clients who are interested in taking advantage of blockchain technology and applications to help them stay competitive. We are looking to win work in the technology, healthcare, financial and educational sectors primarily, but do not rule out other industries that show interest.
There are many blockchain projects in the market at the moment. What is different about Phore Blockchain?
What sets us apart from other projects are several different things. We are continuously improving our platform with an aggressive release schedule that not only includes the marketplace, but also a smart contract platform for building decentralized applications (dAAPs). We are also planning on incorporating atomic swaps that enable the exchange of different types of digital assets across disparate blockchains, and decentralized crowdfunding for entrepreneurs to help them bring their ideas to market. With these things alone, we will have one of the most flexible Blockchain projects out there.
In addition, we are forming an entity called the Phore Foundation in Q2. This will be a non-profit organisation that will provide key support for our future, allowing us to develop new blockchain technologies and make strategic investments that will incubate potentially ground-breaking digital properties and services. Through these efforts, we will be in a position to become a global market-Leader in this sphere.
Another thing that is different about Phore Blockchain is that unlike many other blockchain projects that have launched through Initial Coin Offerings (ICOs), Phore Blockchain is completely self-funded, decentralized, and community-governed. Being bootstrapped means we have had to fight for growth, utilising funds smartly and efficiently, and falling back on the tried and trusted traditions of hard work and perseverance.
How do you manage to lead your organisation to success being decentralized and community-governed?
There are both challenges and opportunities with this type of an organisation. Anyone with an idea is able to propose it to the community and put it up for a vote. This gives everyone the chance to have their voice heard. In a typical business scenario they would not have this opportunity. I’ve seen this to be largely positive. At the same time, some proposals come up that may not be the most well-thought out or beneficial, and these are typically voted down. Outside of that, we have a leadership team that includes myself and Thomas Ambler, as co-CEOs. We work very well together, leveraging each other’s strengths, but our greatest collective asset is our staff. We have strong developmental, legal, operational, and marketing teams, as well as a very active and supportive Phore Blockchain community. Thomas and I provide the strategic vision, and the team, with the input of the community, make it happen.
What would you say is the biggest challenge facing your organisation?
With the industry at such an early stage, it still needs time to mature. Stronger industry rules and regulations will be put in place for blockchain technology and we are preparing for it by our position within the industry where we are acutely aware of developments globally. We have highly experienced legal and compliance officers on staff who have already put structures in place to anticipate future industry guidelines. We aim to be far ahead of the curve when regulation is implemented.
Last question. What major social impact does Phore Blockchain have or will it have in the future?
Phore Blockchain is evolving into one of the most flexible ecosystems on the market with capabilities that will far surpass others. In addition to this, we are able to appeal to a broad audience that includes not only First World countries, but also developing nations. Through our decentralized marketplace and partnerships with providers, we will bring internet capabilities to unserved and underserved regions, enabling some of the poorest countries in the world to become part of the global economy. Later this year, we will launch a pilot program in an emerging market, giving people with little or no access to the digital economy the ability to buy and sell goods and services.
The social impact of this is potentially enormous and could dramatically
change the lives of many people who have the most need. In addition to this, we intend to begin offering paid scholarships at Phore for the world’s best, young blockchain graduates, allowing them a fast-track avenue to becoming a Core Developer, within the world’s most dynamic, exciting and relevant space.
To learn more about Phore Blockchain, visit phore.io