Unawarded [DeFacto-004] Telegram Wallet for Factom

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#1
Hello everyone!

This grant is for development of Telegram Wallet for Factom.

Telegram Wallet is a lightweight wallet to store and operate Factoids by daily basis.
When you start using Telegram Wallet, the Factoid address, associated with your account, created.
You can fund this address (from Exchanges or other wallets) and further use this funds — by sending Factoids or buying Entry Credits.

Main functions:
— Receive FCT
— Send FCT
— Buy EC
— 2FA support

Telegram has more than 200,000,000 monthly active users (https://telegram.org/blog/200-million). Many blockchain projects have Telegram communities that don’t intersect with Discord communities.
Having an online Telegram Wallet will increase Factom’s exposure among Telegram users.


Changelog: I have uploaded "v2" with the indemnification clause included.
 

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Secured
#2
I have been through all of the DeFacto related grants and found that you have allocated over 4.5 full-time developers this grant round (3 for open API + 1.5 for telegram wallet).

While I am very grateful to have someone with your drive on the Factom Protocol team, Anton; do you not feel you are stretching yourself too thin with all these grants + your ANO activities + open-node support + testnet support + supporting your existing products and clients?

How many developers does DeFacto have at their disposal to achieve all of these activities within the given timescales? I ask because so far I have only interacted with you, Anton.
 
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#3
@Ben Jeater I understand you concerns, Ben, so I will sort it out:

1. Right now our team consists of 3 people (including me) that fulfil ANO activities.
In next few months I'm going to hire additional project manager employee to communicate with future clients / onboard them.
This really depends on many factors, some of them I can not disclose publicly right now (but disclosed in #operators-private few days ago, if you noticed it ;)).

2. To fulfil grant activities I'm going to hire 2 backend developers (contract work) for Open API grant +1 backend developer for Telegram wallet grant (if this grant will be awarded).

3. Open Node supported by 4 parties (Bedrock+DeFacto+CryptoLogic+TFA), so we are not alone there ;)

So, summarizing the above, in case of all our grants are awarded, we will be able deliver it in timeline that provided in applications.
To be honest, after reviewing part of grants, I see that Telegram wallet doesn't fit even into De Facto's shortlist cause there are more important grants in this rounds. We are not going to place all our grants on top of voting list ;)
 
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#4
Thank you for your proposal.

This is a generic question I ask in each grant thread.
This is currently the 3rd grant round. I consider that one of the very important criterion to select a grant (apart from its potential value) is the capacity of the grantee to deliver in time what it pledged. Therefore past grants can be used as an indicator.

If you did receive grants in previous rounds, could you please fill the following fields? This would increase transparency and help the standing parties to select grants.

- Have you, or one of your partners, previously received grants : Yes/No. If No, then you can stop here :)
- List of grants received : grant X1 from round Y1, grant X2 from round Y2...
- Status for each grant : grant X1/Still ongoing or Completed, grant X2/....
- Description of the work accomplished so far and Links supporting it : Discord Group/Factomize thread/Github/Reports/...
- Description of the residual work to be completed : XXXXXX

Thank you for your cooperation.
 
Secured
#5
Why was my comment deleted from this thread?

Anton you are doing amazing work building and extending the Factom Protocol but not all ideas are worth development. Especially if there is no follow-up from Product Development to Marketing & spreading. This project is totally separate than the core function of Factom which is securing data. That's a bit like the Factomize anything on Telegram or whatever which will generate 0 traction to the ecosystem without marketing and active work on it.

It seems much better to extend the products that your clients are currently using. Try to better understand their needs when it comes to data integrity/honesty and build from there. Those grants would be a lot more worth as they are directly related to clients of yours that are using the protocol.

The telegram wallet is a shotgun approach with $35k in cost and no apparent ROI except for "telegram has x million users".
 
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#7
You should have received a notification that it was removed and why. Did you not?

It was removed because it was posted prior to the Q/A starting.
Then we should either not allow commenting until Q/A is open or make it "Answers starts" while people can post their comments & thoughts at all times. I don't see any value in this Q/A period. Can you enlighten me? Cheers!

You can see how deleting comments can be bad for the best end result. I had to come back here to post which yea doesn't seem like much but is annoying and can remove a lot of good stuff from discussions.
 
Secured
#9
Anton you are doing amazing work building and extending the Factom Protocol but not all ideas are worth development. Especially if there is no follow-up from Product Development to Marketing & spreading. This project is totally separate than the core function of Factom which is securing data. That's a bit like the Factomize anything on Telegram or whatever which will generate 0 traction to the ecosystem without marketing and active work on it.
Thank you for feedback!
I partially agree with you. With an oversubscription of this round, I see that there are a lot of more important projects.
But I don't think Telegram wallet is useless – as an active Telegram user, I would use this wallet more, than Enterprise Wallet now. Yes, it won't generate protocol usage (except txs fees), but it obviously will make the protocol more valuable for users, who use Telegram daily.

It seems much better to extend the products that your clients are currently using. Try to better understand their needs when it comes to data integrity/honesty and build from there. Those grants would be a lot more worth as they are directly related to clients of yours that are using the protocol.
We already do this. The WatchTower project we introduced earlier is the thing that our client uses now. It generates about 250 entries per day from a single server, and this solution is scalable.
We are developing it from ANO income without grant, and want to make it open-source after Open API will be ready.
More in this grant thread: https://factomize.com/forums/thread...-rest-graphql-api-for-factom.1493/#post-10325
 
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#10
I really applaud your honest assessment of this grant in the context of this oversubscribed round @Anton Ilzheev , and I agree with that position. Adding a telegram wallet is on the lower end of priorities for the protocol.

I appreciate that now we have another project with some plans behind it in our portfolio of future grants to fund though. I look forward to when we can do that.
 
Secured
#11
This is a very interesting project. We think Telegram will only be playing a larger and larger role in the crypto industry (the Telegram blockchain has been rumored to have raised $1.7 BILLION to integrate blockchain technology into the telegram app with their own native Telegram token).

With that being said, this is a very competitive grant round. Additionally, we believe higher priorities currently exist. We'd love to see this project receive funding in a future grant round.
 
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#12
Hi Anton, Thank you for your application.
Again I am asking the same question of most ANO applicants:

Assuming the grant is funded please break down what will be delivered by this grant proposal funding and what will be delivered by your ANO efficiency set at 35% over the next 3 months?
 
Secured
#14
@Anton Ilzheev with the difference here is:

"1. We seek for a grant to develop the Telegram Wallet
2. We are operating with initially pledged 35% efficiency, providing additional value to the protocol.
Right now we have in the pipeline: WatchTower project (recently announced it, see infographics above), negotiations and onboarding 2nd client and some activities in private, which I can not reveal right now."

Correct? Thanks for responding
 
Secured
#16
Anton, considering you believe the potential of WatchTower (to be renamed) to be multi million entries per day or whatever. I strongly strongly recommend an almost complete focus on it as a company and a creation of a SAAS that allows your customers to EASILY implement it. You want to reach your potential market, you focus on marketing & sales in this specific project, rather than keep on extending and building elsewhere.

If the value you are providing is real, then the opportunity to focus on it is HUGE!!!! That's my 2 cents. Focus focus focus!!! Talk with Linux server admins, etc... See how much value you are actually providing as you can be charging a good price for that ;)
 
Secured
#17
Anton, considering you believe the potential of WatchTower (to be renamed) to be multi million entries per day or whatever. I strongly strongly recommend an almost complete focus on it as a company and a creation of a SAAS that allows your customers to EASILY implement it. You want to reach your potential market, you focus on marketing & sales in this specific project, rather than keep on extending and building elsewhere.

If the value you are providing is real, then the opportunity to focus on it is HUGE!!!! That's my 2 cents. Focus focus focus!!! Talk with Linux server admins, etc... See how much value you are actually providing as you can be charging a good price for that ;)
Re WatchTower
The LoggerHead (ex. WatchTower) project will be completely open-source when Factom Open API will be ready, so this 2 products may work in combo — and we will be able to promote it as an open-source solution for securing server logs with affordable price of $0.001 per writing of 1 log record on the blockchain.
I didn't think about providing it as SaaS, but who knows, maybe there will be a demand for custom features from enterprises :)
Thank you for idea!

Re Telegram Wallet
Developing side projects, that may help ecosystem to evolve, is also important.
We are not putting side projects on the first place, but I would like to have & use things we suggested (Telegram Wallet, Factom Name Service, Decentralized websites) someday in the future. Right now it's not in the priority, I agree with you.
 
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