BCH Latam Crowdfunding 2020 Supplementary Materials

This information applies to Scenario B of the BCH Latam Crowdfunding 2020, where we construct Bitcoin Cash commons in Latin America without executing our business plan, in case we don’t raise enough funds.

Operations Plan

1. Merchant Adoption

The goals for our merchant adoption efforts include the following.

  • 600 new Bitcoin Cash merchants, fully trained and equipped
  • 50 combo remittance offers from merchants listed on the local.bitcoin.com marketplace (dependent on fiat pricing)
  • train the merchants to use local.bitcoin.com and offer a support service for it to guide them personally

Operations Plan

  • print marketing materials such as acceptance stickers, flyers, recovery phrase cards, support stickers, etc.
  • Re-onboard key merchants in Medellín and Caracas
  • Check up on existing merchants without stepping on toes
  • Add combo remittance offers to the local.bitcoin.com marketplace
  • Create reference educational videos and combine them into an automated training program
  • Use CRM to check in with merchants at least once every 90 days

Stretch Goals

  • Cúcuta, Colombia & San Cristóbal, Venezuela in support of the cross-border food shopping use case
  • more salespeople in Medellín and Caracas
  • Maracaibo, Valencia & Puerto La Cruz, Venezuela
  • A Brazil team, starting in São Paulo

2. Meetup Program

The goals for our meetup program include the following.

  • introduce new people to Bitcoin Cash, generating awareness and the comfort level to continue learning and experimenting with BCH
  • do livestreamed+face-to-face workshops to support other goals where key skills are taught, including around remittances, merchants, using local.bitcoin.com, SLP tokens, cross-border freelancers, how to advance Bitcoin Cash adoption, existing crypto enthusiasts and more
  • build excitement and buzz
  • ideally hold win-win joint events with industry partners and allies such as blockchain centers, exchanges and before/during regional conferences

Operations Plan

  • develop and refine standard presentations
  • line up partners to collaborate with
  • develop marketing funnels for meetup attendees
  • establish metric goals, convocation strategies, etc.
  • schedule, execute, refine and improve

Primary Focus Areas

  • Colombia: Medellín, Bogotá, Cúcuta
  • Venezuela: Caracas, Maracaibo, Valencia
  • Madrid, Spain (remittances focus)
  • Brazil: São Paulo, Rio de Janeiro, Brasília

Stretch Goals

  • Mexico City, Mexico
  • Buenos Aires, Argentina
  • Havana, Cuba

3. Remittances Pilot

The goals for our remittances pilot include the following.

  • sell 500 remittances, be they to cash, wallet-to-wallet, combo remittances sales or other
  • list 50 combo remittance offers on the local.bitcoin.com marketplace from BCH-accepting merchants in Caracas
  • connect remittance beneficiaries with merchants to generate in-merchant BCH spending
  • achieve 1-2 helpful integrations
  • add liquidity providers on local.bitcoin.com that reduce spreads and increase the ease of use of BCH for remittances
  • develop funnels and media that create user comfort, demonstrate value and vibe, and solve problems rapidly 
  • face to face remittance workshops in Madrid and Caracas, both for senders and receivers
  • produce a report on lessons learned in order to pivot and scale up in the future

Operations Plan

  • select 1 corridor, likely Madrid-Caracas, focus on combo remittances and direct cash receipt via local.bitcoin.com
  • do market research & test advertising strategies
  • develop a media strategy for content marketing
  • schedule meetups & remittance workshops
  • develop a list of potential integration partners and build relationships
  • build relationships with small, indie remittance businesses to improve their cost structure with Bitcoin Cash, gain access to their customers, onboard them to local.bitcoin.com and learn from them

Stretch Goals

Open additional corridors, such as the following.

  • Miami-Caracas
  • Miami-Havana
  • Orlando-São Paulo
  • Lisbon-São Paulo
  • Santiago-Port-au-Prince
  • Los Angeles-Mexico City
  • Los Angeles-Guatemala City

4. Marketing

The goals for our marketing efforts include the following.

  • build buzz around Bitcoin Cash in Latin America
  • attract new people to the global BCH ecosystem
  • demonstrate concretely how to use Bitcoin Cash to solve real problems
  • evidence real Bitcoin Cash use with media that can be used to build hype around BCH in crypto markets to attract new BCH buyers 
  • establish website and social media presences, at @bchlatam and bchlatam.com
  • publish 24 reference educational videos
  • produce 25 “Bitcoin Cash Life” vlogs (demonstrating on-the-ground use)
  • record 25 podcast or livestream episodes
  • release 250 unique social media posts
  • operate 4 marketing funnels that support user journeys
  • add 50 new Latam liquidity providers to local.bitcoin.com

Operations Plan

  • setup website and social media presences
  • define marketing strategy and metrics
  • setup marketing funnels
    • become a merchant or NGO that accepts BCH
    • Become a liquidity provider at local.bitcoin.com
      • offer an “OTC biz in a box” to young people looking for a side hustle
    • remittances
    • work on Bitcoin Cash adoption
    • squeeze pages
    • email sequences
    • SMS, WhatsApp and email marketing
  • launch content marketing (blogs, vlogs, podcasts, live streams, etc.) and talk about Bitcoin Cash in the context of creative entrepreneuring, safeguarding assets in time of crisis and related topics that are compatible and gain us audience
  • create video content in the different locales showing off BCH use, and incentivize users to do the same
  • monitor Bitcoin Cash conversations on social media in Latam and provide a welcoming, helpful presence
  • launch the BCHAid marketplace for NGOs to receive donations

Stretch Goals

  • build relationships with appropriate second- and third-tier influencers, particularly on Instagram and YouTube
  • develop and provide a free BCH adoption video training course on how to replicate our work aimed at local adoption leaders across the globe

5. Business Development

The goals for our bizdev efforts include the following.

  • greater liquidity, for example via exchange integrations
  • greater ease of entry into the Bitcoin Cash ecosystem, for example via SMS wallets
  • achieve 2 integrations for Bitcoin Cash
  • represent Bitcoin Cash at 2 significant Latam regional conferences
  • build a network of allies and friends on the ground

Operations Plan

  • initiate a wide CRM-based outreach to potential industry partners in the region
  • review the conference schedule for the next 6 months and identify candidates
  • work on enabling remittances by purchasing a voucher in Europe that results in a BCH deposit to an SMS wallet in Venezuela

Stretch Goals

  • additional conferences
  • additional integrations
  • develop a specification for the gamified adoption app
  • develop a specification for a remittances module for an existing Bitcoin Cash wallet

Timeline

Month 1: Foundation

  • hiring
  • training & team-building
  • planning, metrics, processes and priorities
  • setup website and social media presences
  • setup marketing funnels
  • renew contact with key potential regional partners
  • Launch special project BCHAid
  • initiate remittances pilot
  • restart Brazil community-building and outreach
  • 30 new merchants
  • 3 meetups: Medellín, Caracas & Madrid
  • 2 new liquidity providers for local.bitcoin.com
  • 5 new combo remittance offerings
  • 25 remittances sold
  • 5 reference educational videos
  • 5 vlogs
  • 5 podcast or livestream episodes
  • 50 social media posts

Month 2: Ramp-Up

  • previous month’s progress report + monthly call
  • 120 merchants
  • 5 meetups: Valencia, Bogotá, Medellín, Caracas & Madrid
  • 10 new liquidity providers for local.bitcoin.com
  • 10 new combo remittance offerings
  • 100 remittances sold
  • 5 reference educational videos
  • 5 vlogs
  • 5 podcast or livestream episodes
  • 50 social media posts

Month 3: Reaching Stride

  • previous month’s progress report + monthly call
  • 120 merchants
  • 5 meetups: Maracaibo, Cúcuta, Medellín, Caracas & Madrid
  • 10 new liquidity providers for local.bitcoin.com
  • 10 new combo remittance offerings
  • 100 remittances sold
  • 5 reference educational videos
  • 5 vlogs
  • 5 podcast or livestream episodes
  • 50 social media posts

Month 4: Course Corrections

  • previous month’s progress report + monthly call
  • 120 merchants
  • 5 meetups: São Paulo, Rio de Janeiro, Medellín, Caracas & Madrid
  • 10 new liquidity providers for local.bitcoin.com
  • 10 new combo remittance offerings
  • 100 remittances sold
  • 5 reference educational videos
  • 5 vlogs
  • 5 podcast or livestream episodes
  • 50 social media posts
  • improve marketing funnels, add more
  • 1 integration

Month 5: Push

  • previous month’s progress report + monthly call
  • 150 merchants
  • 5 meetups: Maracaibo, Bogotá, Medellín, Caracas & Madrid
  • 15 new liquidity providers for local.bitcoin.com
  • 10 new combo remittance offerings
  • 125 remittances sold
  • 5 reference educational videos
  • 5 vlogs
  • 5 podcast or livestream episodes
  • 50 social media posts
  • team retreat/evaluations/brainstorming session

Month 6: Up a Level

  • previous month’s progress report + remittances lessons learned + proposal for next 6 months + monthly call
  • 60 merchants
  • 5 meetups: São Paulo, Brasília, Medellín, Caracas & Madrid
  • 3 new liquidity providers for local.bitcoin.com
  • 5 new combo remittance offerings
  • 50 remittances sold
  • 5 reference educational videos
  • 5 vlogs
  • 5 podcast or livestream episodes
  • 50 social media posts
  • 1 integration

Budget

Merchant Adoption$7,150
salaries & incentives$5,250
admin/support/OTC (PT/ES)$600
marketing materials$450
travel + per diem expenses$700
office/shipping/etc$150


Meetups$2,750
travel/hotel/venue$1,500
airdrops$750
refreshments$250
merch+$250


Remittances$4,650
salaries & incentives$3,300
airdrops/user incentives$500
events$600
per diem expenses$250


Marketing$3,350
salaries & incentives$1,900
marketing tools (software etc)$750
equipment$400
per diem expenses$300


Business Development$1,550
conferences and travel$800
integrations$750


TOTAL$19,450

Merchant Adoption

The merchant adoption budget covers the coordinator’s salary (that’s me, George), the head of merchant adoption, 2 salespeople in Medellín, 2 in Caracas and 1 support person (bilingual Portuguese-Spanish) who will provide priority support, including for liquidity, to merchants as well as help us maintain constant communication with merchants. It includes marketing materials, which means acceptance stickers, merchant flyers, support stickers, recovery cards, etc. Various other administrative and transportation costs are included.

Meetups

The meetups budget draws manpower from merchant adoption, remittances and marketing. It includes travel costs. For the Colombia meetups, we will dispatch the Medellín team at minimal cost. For the Venezuela meetups, the Caracas team can similarly handle them. The Brazil meetups will have a higher travel cost. Airdrops includes Bitcoin Cash that we will give to meetup attendees who complete certain requirements. Merchandise is various Bitcoin-Cash-branded items we will give out, such as t-shirts, pens, notebooks, etc.

Remittances

The remittances budget contemplates three people, our Caracas lead and two in Madrid. While Venezuela and Colombia are among the least expensive locales in Latam, Madrid is considerably more expensive. A primary vector for the remittances pilot will be via events and business development, so event costs and per diems are included.

Marketing

The marketing team includes 2 people in Medellín and 2 in Caracas. We will likely have one lead and (some of) the others may be freelancers. We will need a variety of marketing tools such as Canva, Buffer, video editing software, etc. At the very least, we will need to buy some GoPros to film with, maybe some podcast microphones as well. Per diem expenses are included as they will need to travel locally to record videos and take photos of Bitcoin Cash use.

Business Development

Business development draws its manpower primarily from the merchant adoption team. We’re focused on conference attendance and integrations, so those are our two line items. Activities will include travel, merch, freelance software developers for integrations and publicity.