Announcing Bitpower: Just another random DeFi project — not! 🦄

By reading this article, you confirm hereby that you are not a U.S. citizen/permanent resident/representing U.S. company or citizen/permanent resident/representing Company of any jurisdiction, or other countries such as the People’s Republic of China or Japan, where the purchase of Bitpower ($BPP) or Bitpayer ($BPT) tokens is illegal, restricted or requires special accreditation. If any of the above is the case, you should not read this article, follow the Bitpower/Bitpayer project or participate in any activities related to them. Furthermore, you should consult your local regulators about digital assets and the risks and benefits of investing in them via regulated exchanges.

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1.1. INTRODUCTION 🔥

Bitpayer brand was officially launched as a mobile application, enabling users in Africa to purchase and trade Bitcoin. Since its closure due to Android store policies, we have worked on the education of our community and the launch of Bitpayer, a native token that has been listed on various centralized exchanges since its inception.

After facing certain difficulties in the initial phases of development, from making wrong hiring choices to having issues with team members who were making unethical operational and promotional decisions that seriously hurt our brand and reputation, with the support of our community and advisers, we have still managed to keep moving forward, learn from our early mistakes, and focus on exploring new development opportunities.

Therefore, to recover from our early hurdles, grow our impact and expand our ecosystem, we have established Bitpayer Development, a blockchain entity focused on developing projects that can enable people in emerging economies to transact, save funds, and monetize their products and services. An entity that will operate separately from Bitpayer and focus on bringing incredible talent on board from across the globe to work together on building cool products. But being better does not only mean changing your startup mentality, it also means bringing new people on board, people with reputation and experience, and we did that. We see community-driven governance systems and digital currencies as the future of financial platforms and a way to enable and incentivize people to build stronger economies.

Now we are proud to announce that we are restructuring our brand, expanding our team with experienced industry professionals and LAUNCHING A NEW TOKEN for DeFi generation with LID Protocol that will create and manage the smart contract and token within its DAO— a token that will be powering an ecosystem of products the community might be building in the future. Early members of the Bitpower community will also receive an airdrop in BPT tokens equally distributed among them. The price of BPT at the date of publishing of this article (November, 17th 2020) is $0.19 on CoinMarketCap.

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UPDATE: WE ARE NOW PART OF THE BIT ALLIANCE DAO ECOSYSTEM.

LEARN MORE: HERE

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1.2. OUR TEAM⛏️

Bitpayer has hired the following individuals to, in addition to Bitpower community, lead our partnership and tech development efforts, starting with 2021. They are not endorsing this project or representing any legal or investment advice — before making any investment or purchasing decisions, always conduct thorough research and make sure that you comply with your local laws and regulations and understand the project. Digital assets are high-risk investments so don’t invest more money than you can afford to lose and only invest in projects providing you with strong utility values — do not make investment decisions based on financial speculations or promises of future ROI. This is a utility-oriented project. Do not hold BPP tokens if you expect any profit. As utility tokens, BPP tokens may hold no value in the market. Do not hold, promote or acquire any BPP tokens if you are from the United States of America, Japan, or the People’s Republic of China. Please also read our agreement linked at the bottom of this page to understand the potential risks of holding Bitpower tokens.

Our core team consists of people with various backgrounds — from accounting to public speaking. While we would love to introduce ourselves to the public, due to the uncertainty of the global regulations, we have decided to stay anonymous for the time being. Moreover, we started our journey in Africa, providing people with the opportunity to purchase Bitcoin and transact with each other, a bold move that was not supported by certain local parties. Hence, for the sake of our safety and the safety of our families, we always had to keep our profile low.

CONCLUSION

Since the global pandemic outbreak, general consumer habits started changing and more industries got pressured into shifting their operational focus online. This shift in trends started creating enormous opportunities for projects in the digital payments space. As a result of such changes, the previous evolution of the blockchain industry and the expansion of community-driven trends such as token swaps, the market got flooded with new digital assets. While they can enable us to transact freely across the globe, lay the foundation for new financial systems, and build new businesses in the era of digital technologies, their long-term impact is not clearly defined in most cases.

They lack long-term development focus and proper strategies to make an impact in the market and secure strong partnerships. The notion that you can just build something and that partners and users will come on their own is unrealistic and toxic for the value of digital assets. We have to focus on education, building useful products in different industries, and work on helping core institutions in our societies understand and adopt these value propositions. Partnerships are secured by creating mutual value and financial or promotional incentives, not just by bringing products into the market. The growth and prosperity of our ecosystem can only be secured by creating a valuable impact that will benefit people in developing economies and not by creating a bad image of failed projects and conned investors in financial markets.

Unfortunately, many projects are focused on building systems that will benefit the few but damage the rest through pump-and-dump mechanisms that are reliant on financial speculations and promises of long-term returns on investment. The fact is that these projects do not have a bright future. While they can make great promises and create hype on social media through various claims, the reality shaped by regulations and consumer demands will not treat them fairly. True user value is created through practical utility and usable products, and not speculations.

We will focus on building products in different operational areas, testing new ideas and onboarding new talented teams across the world to help us reward our token holders with more utility values and shape the ecosystem.

With you, we can make that great impact, understand the needs of the market and establish benefits for our token holders. With new people that will be joining our team bringing experience from different industries, we are also hoping to be able to create a positive image around the DeFi space, influence future regulations through our efforts, and help other entities create the digital ecosystem that will value the benefits of decentralized finance. So let’s build the future together.

DISCLAIMER: Any other third party, person, company or institution, mentioned in this article are not endorsing this token sale, their names were respectfully included as important details explaining certain events or past happenings. Before holding or acquiring Bitpower tokens or participating in any activities related to Bitpower, you are obliged to read, understand and accept the terms of the following agreement: HERE. Bitpower project may get shut down for multiple reasons (e.g. regulations, low interest from potential users, lack of capital, etc.), its team may change or it may get acquired by another project so please actively follow the updates, do your own research and learn more about the risks and benefits of being part of the BPP community. BPP tokens may hold no value in the market.