Hello everyone, hope you are all doing well. I understand that you are waiting for updates, and so do I.

08 Feb 2023, 19:19

Hello everyone, hope you are all doing well! I understand that you are waiting for updates, and so do I. However, there is not too much news to announce right now. On short term I expect our new website to go live. @Harris | BITBUZZ is finalizing the design and the defi wallets. I'm pretty sure you will like the modern design and the web3 funtionality that it will offer. The most important question that we as a team need to answer, is how to contemplate, finance and organize the development of our storage product. It's fair to say that have not managed to develop it with just volunteers. The solution that we envision is comprehensive and requires a significant investment to develop. The reason why I have shared some other proejcts with you in previous updates (Passdropit, Snapit and Notions11) is because in my opinion KnoxFS has to be managed and organized as a software startup that needs funding for a SaaS product. The experience that i'm gaining with other projects, I will use for KnoxFS. The past months i've been contacted by several off-shore development agencies that are keen on developing our storage product. The goal is to draft a Request for Proposal (RFP) and send it out to 3-5 of these development companies and have them pitch for the asignment. Once we have selected a third party for development, we also have a better understanding of the required investment and the timeline to develop the product. We can then also re-schedule the funding campaign that we meant to start in december (ie. wKFX token offering on Pinksale). Possibly I will deside to have an MVP version created prior to the funding campaign, to be able to show/demonstrate investors what we want to build and how we can monetize this solution. Creating revenue (i.e. monetizing) wil be crucial to attract funding. The future value of KFX and wKFX should be based on the ability to generate real revenue, from real customers (including ad revenue or other sources of income). It should not be different to other commercial SaaS products, and not rely on crypto speculation. To conclude this update I like to repeat that i'm personally committed to KnoxFS and will continue to push, even though I can't move forward as fast as we all would want. Thanks for your support and loyalty, and please step forward if you think you can help the project in any possible way. Don't be shy 😀