Topic: [ANN][BLT] Bolt: The currency for producers. ***JOIN NOW** - page 3. (Read 739 times)

This actually makes perfect sense to me! I think it's awesome you can vote on which ones are funded. I guess people will get a chance to pitch their DFO's to get enough votes to get funded?

No one that we can publicly mention at this time.

The first Producers Bolt will service is artists. We're focusing on artists that have a history of producing objects or performances that can be sold in addition to being outside the mainstream of arts funding. In the long term, any group of Producers you can imagine will be funded with Bolt. One of Bolt's big advantages over traditional funding sources is that Producers don't necessarily need to have a clearly defined consumer product. However, there does need to be demonstrated value in the project for the Bolt community.


DFO is short for Dao Funded Organization. Essentially, DFOs receive grants from the community to perform functions for the community. One of the problems with traditional DAOs is that they attempt to fund projects directly. While this can work early on with small budgets, in the long term there needs to be a larger ecosystem around the DAO. DFOs have a clearly defined mission statement and must have a quantifiable way of measuring their achievement of said mission statement. Anyone can form a DFO; however, the community decides which DFOs to fund through the masternode system.

I keep reading about DFO's, but I'm not sure what they are.

What do producers with Bolt actually produce?

Has your project been reviewed by any reputable people?

Cryptocurrency is a very crowded field, and there's a lot of projects with similar tech to ours.
What's different about Bolt is two major things:

• For Producers. Other projects focused on production are usually raising money for a specific business venture. Bolt is about completely rethinking how Producers are funded and new products are created: specifically, through grants followed by selling product for BLT instead of through raising funds from investors.
• Focus on Governance. Most ecosystem/platform based cryptocurrencies address governance as an afterthought. Bolt has a primary focus on governance. Bolt's ecosystem is designed to allow individuals to make local decisions while coordinating action on a larger scale, all in a decentralized manner (DAO->DFOs->Miners, Sponsors, and Producers).

These two combined allow Bolt to build a future economy for Producers while being able to rapidly adapt to new circumstances.

Yes, it will be extremely simple. Make sure you sign up at join.bolt.bz to get into the affiliate program as soon as the closed beta is available. We're fortunate to have team members who have extensive experience in UI design and usability which shines through all our existing sites.

Besides the affiliate program, there may be other ways to passively and actively earn Bolt in promotional programs. Make sure you sign up to get access; most of these programs limit the top level to people who have previously shown an interest in the project by signing up.

In general, we are not focused on partnerships. Big partnerships are great for getting a temporary boost to a project but usually the other partner exploits the project to service their own needs to the detriment of the community.
That said, we have several undisclosed partners we are working with who are providing advice and other support. Some of them may make public statements in the future about Bolt. Since Bolt is a community project we need to attract enough members first.

Bolt does not have any intrinsic value, is not backed by anything, and does not offer any profit or rewards. We are not looking for investors.
US citizens can certainly participate in several ways:

• Mining BLT.
• Founding DFOs.
• Sponsoring DFOs, although care needs to be taken to make sure such transactions don't violate money transmission laws.

Our core community is now at 50 members and growing; you're also welcome to join! We've had 3 different developers contribute code to the project which you can see on our github. Many of the initial founding team members are listed in the Bolt whitepaper although several are not listed because they joined recently or wish to remain anonymous. We have scientists, engineers, statisticians, economists, as well as members with previous experience with tech and crypto startups.

Bolt really is a unique project. We're radically rethinking how Producers should be funded and how new products should be brought into the world. It's the kind of project that was inconceivable before the blockchain was invented and wasn't possible until recent technological advances in blockchain that have occurred over the last 5 years.

This project looks unique. I am wondering how many developers and team members you have working on this project and when you expect it to be complete?

Is Bolt a utility or security? Can U.S. investors participate?

Does BOLT have any big partners? If so, who?

I really like the affiliate program. I think it will go a long way in trying to market this project and get more users engaged. Is the process for inviting simple?

May I ask who your competitors are and what you are doing differently?

No airdrops. However, there will be lots of bounty campaigns to easily earn BLT.

Bolt is not a company, we're a community. Most of us are located in the USA. We're planning to bring the first physical presence to Austin, TX.

No. This ANN thread is the first public announcement of Bolt.

Sign up at join.bolt.bz to get the most recent updates. You can also join the Discord channel.

Where can I get the most up to date news on this platform? Twitter?

Has your project been featured on any news sites or shows?

What country is your company based out of?

Will there be an Airdrop? Have you considered it?

We considered using a centralized ledger. Using a decentralized database offers several advantages:

• Distributed organizational structure. With a centralized system, one organization (probably a foundation) would be responsible for the entire system. With blockchain, the community can give organizations grants without them relying on a central foundation that is vulnerable to political, legal, and cybersecurity threats among others.
• Freedom from censorship. A centralized organization would be pressured to restrict who they are giving grants to. Since Bolt is decentralized, the community can directly decide which projects to fund, even if the original founders disagree or are under pressure.
• Protection of anonymity. Multiple fintech companies outside of blockchain are consistently forced to destroy the privacy user's expect. On top of that, centralized systems with closed-source code are highly vulnerable to hacking attacks as brought into focus with the theft of data from credit rating agencies.
• Community governance. A distributed system of governance has several major advantages for Bolt. First, it give the community an investment in the project. Second, it allows the project to grow much faster than it could otherwise. Because Bolt is decentralized, anyone can start their own DFO and start offering grants.

Blockchain based systems do have major disadvantages, the biggest of which is transaction fees, speed, and scalability. That's why we're using the Block-Lattice; it is a gigantic improvement on previous technologies for projects like Bolt by making transactions feeless and essentially instant. The other disadvantage, public visibility of transactions, is resolved with the future tech of the Diamond Lattice.

What would you say is the biggest advantage of using blockchain for this?

Yes! We picked the name Bolt because the word has several meaning closely related to the project. The different meanings of Bolt refer to speed, security, scalability, and production.

Is the name based on the fact that you have very high transactions per second? (Isn't Ethereum only like 20 vs. your 7000?)