Whilst this was an important milestone for the Donut team, nothing has changed internally. We remain laser focused on the long road ahead.
Our goal is simple: we want to make entering into the digital asset ecosystem as fun and engaging as possible. In turn, we hope to inspire a new generation of investors whilst we are at it.
Let me explain a little further…
🐘 A trip down memory lane
It’s worth remembering that 10 months ago Donut didn’t exist. For those of you who helped catalyse the team formation in the early days (Zoe, Zefi 🙏🏼), you will recall the various product iterations and intermittent tests we have run.
The common denominator in all cases was a compelling customer problem that our team can all relate to: what to do with spare savings 💸? Having been a peripatetic investor for 5+ years at a number of equity investment funds, I have been asked this question over and over again by friends and family. This became very apparent in late 2017, where the masses scrambled around to enter the thriving cryptocurrency ecosystem 📈.
At the same time Jordan noticed that banks were not able to fully support additional user-centric investment products within their tech stacks. Often, investment features were plugged into core products but failed to give users an experience they wanted. The result: cash was left collecting dust in user current accounts and more importantly, even in Jordan’s own account 🏦.
Through our initial pre-seed investor Entrepreneur First we were fortunate enough to add Dan and Julian to the initial Donut team. Our intention was to help an increasingly anti-establishment generation save and invest for a better future.
How are you going to buy all of those Matcha latte’s 🍵 in 10 years time if you’re not saving and collecting today?
🔮 Enter digital assets
Our core belief at Donut is that over the next decade we will transition to a world away from traditional assets towards digital assets. We believe that every stock, bond, currency and even real world asset will eventually become tokenised.
To clarify, ‘digital assets’ encapsulates a far greater spectrum of assets than purely cryptocurrencies. Here, some increasingly interesting use cases for example are built using Ethereum based non-fungible tokens (ERC-721). This allows for fractional ownership of assets such as real estate 🏠, art 👩🎨 and even classic cars 🚘.
These, offer the attractive potential to change the way the world works, disrupt power dynamics and challenge the status quo. We believe that as the tokenisation continues, consumers will want a trusted home to purchase, store and transact their digital assets. Enter Donut.
💪 Our Mission
We want to empower everyone, irrespective of wealth, knowledge or location, to become an investor into the digital asset ecosystem.
Today, navigating the digital asset ecosystem still remains incredibly complex. User experience is plagued with deciphering complicated terminology in white papers, handling private keys and managing complicated top-up processes.
We are building the next generation of products to enable users to get started within this ecosystem. We want to empower users to enter, engage and set better investing habits.
Let’s keep that Matcha on tap for now shall we?
👀 What’s next?
We are head down and deep into build mode for our product. Thanks to all those who have helped feed input and provided a testing ground for our offering.
As for our key milestones for the upcoming months:
(1) 👩🏻💻 We plan to grow our engineering and design teams (jobs here)
(2) 🧪 We will launch early access to the Donut Test Kitchen in summer 2019
(3) 👨🎨 Invest in a better user experience and brand to facilitate our gamified approach
If you haven’t already signed up, make sure you keep track of our progress by signing up to our website.
We look forward to continuing this journey with you.
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By Neel Popat
Written with ❤️ in Kreuzberg, Berlin 🇩🇪
This article should not be construed as containing investment advice.