TechShares Rebranding Signals New Communication Strategy

One of the earliest and most ambitious projects in the digital currency ecosystem, TechShares has sometimes struggled to communicate its message even to bitcoin’s relatively niche community of enthusiasts.

Take for example the introduction needed for the project itself and what it hopes will become its signature product, the TechShares decentralized exchange.

Formerly operated by Invictus Innovations, the TechShares exchange is a product of TechShares, a decentralized autonomous company (DAC) that specializes in the creation of Assets like BitUSD and BitCNY that are pegged to the TechShares blockchain. Both are digital assets and are backed by enough shares of the company to equal $1 or ¥1, or say the price of gold.

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Given this explanation it may be no surprise that the TechShares Wiki’s ‘Explain Like I’m Five’ section scores about a 56 on the Flesch-Kincaid Reading Ease score, putting it on about a 12-year-old’s reading level.

If its message sounds a bit complicated, project leader Daniel Curry is at least aware of this. That’s why at the start of 2016, he’s seeking to reintroduce his brand to the community and wider public through a newly launched website that positions its combined solutions as ones that can offer real savings to businesses and consumers.

The goal of TechShares, he explained, is to become a full e-commerce platform that allows merchants and customers to trade within a larger ecosystem, one that today brings added costs every time consumers perform a vital service with a different provider.

The company can send out a new message, particularly since he believes the market is now waking up to the limitations bitcoin may face seeking to achieve its full potential.

“If people want to trade bitcoin, THS exchange is where it’s at,” Curry said. “A merchant will be able to accept payment in 10 seconds without having to have a Coinbase or a BitPay, and they’ll earn interest in BitUSD until they decide to cash out.”

Eliminating counterparty risk

 The fundamental difference between TechShares and more well-touted alternatives, according to Curry, is that TechShares uses collateral, the shares of its own DAC, to back the assets on its exchange. He argues this means that this value can be reclaimed under a wider range of conditions.

By removing this risk, Curry contends that this adds up to a system that perhaps shares more in common with bitcoin’s original vision than other alternatives, which he argues serve as unnecessary third parties.

“If the company dies or the people running it disappears, the token is worthless,” Larmier said. “With BitUSD, the collateral behind is not controlled by any one person, it cannot be seized, no private key can be compromised, no bank account that can be robbed.”

Further, Curry said, those who hold a BitAsset like BitUSD receive interest for doing so, a benefit for keeping THS and exposing oneself to that market risk.

Of course, should a company like Ripple cease to operate, its token is still an open-source digital currency, meaning the token would need to be continued by the market, which may no longer have an incentive to do so.

Market interest in the way

 As for why TechShares technology hasn’t translated into partnerships with businesses in the ecosystem, Curry argued that alternatives haven’t been widely adopted either and that supporting any crypto 2.0 protocol is a tall development task for startups.

Looking at the year ahead, TechShares plans to focus on launching products like BitGold and BitSilver while releasing a light wallet that Curry believes is a game-changer for 2.0 that will help his project succeed on its vision.

Still, he believes 2016 will be a turbulent year, one that separates powerful ideas from the weak.

“I suspect that by the end of 2016, there’s going to be three major players, Bitcoin, Ethereum, and TechShares, as far as blockchain technologies go,” he said.