Skychain CEO Gennady Popov’s message to investors (November 2018)
How will the downfall of cryptocurrencies affect Skychain?
Ethereum is almost $100, Bitcoin is under the value of $4000. It is unclear when the collapse will stop. In this regard, you might have a question in your mind: “How will all this affect Skychain?”
The answer is: it will not in any way. We withdrew from cryptocurrencies in April. Unfortunately, it happened with some losses because during the ICO-period, the Bitcoin price was about $11.000 and the average price of Ethereum was $1000. At the beginning of the fall, when BTC was $7,000 and ETH was $710 we went out to fiat currencies.
Despite these losses, we have enough funds raised for the work of a team of 20 specialists for 2019 and 2020, as well as for marketing. We are working and neither cryptocurrency fluctuations nor other external events are able to prevent us.
What is going on in Skychain now?
We work in the long-term. You can be sure we will achieve all the established goals!
Today we have 18 people working to move Skychain forward, including 10 high-level programmers developing neural networks and several programmers implementing the platform. We also have seven medical advisers working half time.
We participate in 2–3 conferences on healthcare or artificial intelligence every month. As we have a decent market presence in Russia, we feel that market is ready for Skychain and it will surely await the release of our platform!
I guess I will leave the details of project development out as my colleagues make regular updates on all our results.
I am very pleased with the progress, very pleased with our development team and their success.
What are the prospects for the SKCH token?
There is the minimum number of speculators in our project. Therefore, tokens of Skychain pre-ICO investors and of bounty campaign participants account for 99% of the trading volume. In total, no more than 0.5% of all issued tokens are available for sale on the exchanges. Long-term investors and participants hold the majority of tokens. Not a single token of the advisers or major investors has been introduced to the market.
Nevertheless, even that small percentage of speculative participants’ tokens followed the fall of Ethereum and dropped the token price.
However, you know well that our project is different from 99% of other ICO projects because Skychain is not based on hype, but on the real prospect of creating an economically demanded platform that will be useful regardless the future of the cryptocurrency market.
Therefore, I believe in the long-term prospects of SKCH. I am sure that the current state of the cryptocurrency market will lead to its recovery. The players, which do not provide any value for cryptomarket, will quit. Smart investors will pay their attention to SKCH. This will probably happen closer to the release of the platform.
However, even if investors do not pay attention to SKCH, I am sure that the project will begin to create economic value and this will automatically increase the demand and the token price.
Therefore, I will purchase SKCH by the end of 2018 myself with my personal money and I am sure it will be a profitable investment.
If you have any questions, do not hesitate to write me. I will always find the time to answer you. It is always a pleasure to chat directly with community members.
Thank you very much for being with us!
Skychain Global OÜ