27 Jul Symbol blockchain tweet update – 28/07/21
Welcome to Wednesday’s Symbol Blog news update! Hopefully this will be the last time (until a final decision is communicated) that I will update you on the branding discussion! 😆
Branding – Community Sentiment Report
If you haven’t seen it yet then here is a link to the community sentiment report on branding. The take home message for me was that a) there were very few respondents and b) there was no clear consensus in the community on what approach should be taken going forward. You can see a summary of the questionnaire results below. The three questions asked were:
- Should NEM be rebranded?
- Should NIS1 be rebranded?
- Should Symbol be rebranded?
Yes in blue and no in red. Five different communities are provided in the summary:
Overall there is quite a split between yes and no responses across all questions and all communities so there doesn’t seem to be a clear majority for any of the options when taken as a whole.
As Hatchet explained in the town hall meeting, in the end the decision isn’t up to the community (and it my opinion it never should be). She told the audience that there are external stakeholders that need to be considered and as I was reminded, whatever the outcome of this whole exercise is it will be guaranteed to piss someone off 😆. One thing I would say is that I will be a lot happier when the situation gets resolved and we are not talking about this anymore! We can also blame the core devs for whatever is decided 😜 😂
Going forward
It is clear that brand communication needs to improve, the good news is that we were told that there will be a Symbol website relaunch in the near(ish) future spelling out exactly what Symbol is and what it can do. There will also be a blog post or similar article written by the team explaining the differences between NEM and Symbol which will help clarify some of the confusion. Updates to social media accounts etc may happen later down the line but they are starting at a grassroots level first with a website redesign and update of documentation to try to disentangle NEM and Symbol and clarify their functionality and utility.
I asked some questions in the chat at the town hall meeting but two were not answered. I’ll give you an update if I get a late response but to summarise, I thought it would be interesting to:
- Get a breakdown for the last question in the poll “How strongly do you feel about the branding direction we take?”.
- Find out if there is a consensus on branding within the core team. What is their preferred option?
Finally, after being praised for my neutrality on the subject…
…I will now break my silence! 😅
My view has always been that we should be clearing up confusion with the current branding and building awareness of Symbol. If we do decide to make a change then I will not be upset by it but I do worry that it will create yet more uncertainty and potentially more discontent in the community. It is early days for Symbol and its reputation will build as time goes on.
The one thing that I do feel really strongly about though is that a decision needs to be made soon.
Price talk 🙈
Thanks @alediemmee for sending in this translation of @nembear‘s tweet about businesses accepting crypto payments. As he quite rightly points out, people are keen to accept crypto payments when prices are high but actually this is completely counter-intuitive. If you intend to hold XYM then you should be accepting payments whilst prices are low and are more likely to appreciate in value (although nothing is guaranteed in this game!). However, if you want to cash in for fiat then it doesn’t matter if the price is low or high. Liquidate same day and it’s exactly the same whatever the price is!
Now seems to be a good time to start accepting XYM payments. I know that I would if I ran a business. If I get to retire and open the vineyard I dream of then I will definitely be accepting XYM payments for wine 🍷😁 Maybe Brexit broke that dream already though, will have to be English wine 😞
English translations
Here’s a request for our Japanese readers. If you have any Symbol or NEM related articles that you would like to share with the English speaking world then just let us know. We really want to advertise all of the great work that is happening in Japan but it’s sometimes hard for me to find articles to translate. I am trying though!
It’s for medicinal purposes 😏🤞
So this was an interesting translation of a @TrendStream tweet sent in by @FaizulReza1.
I am trying to unpick it by following the chain of tweets. It seems that Colombia is set to allow the export of cannabis grown in the country overseas for medicinal use. As it is much cheaper to cultivate there the potential export market could be huge.
It seems that @baiotraze uses the Symbol blockchain to ensure traceability of crops and tracking of data needed to ensure compliance with government regulations. They have is an existing case study working with three cannabis growers in Columbia. Hopefully it will catch on and could mean big business for BAIOTRAZE and another use case for Symbol!
Can’t do that with Dogecoin Elon..
NEM watches!
This is one crazy looking NEM watch! It seems that @sayosayo712 won it as part of a promotion on the Japanese exchange Zaif – congratulations! 🥳 Apparently there are more Zaif promotions coming in the future. Why don’t my favourite exchanges have prize draws for cool merch? 🤔 We also need a Symbol watch!
Craziness! 😂 🎤
This isn’t Symbol related, although I have a feeling that there was once a NEM Cryptocurrency Girl (or did I just imagine this?! 😄). I saw this trailer for their new song “NFT The World” and thought I would share – it is amazing 🤩
The music instantly transported me back to a Tokyo arcade playing this 😂
Anyway, I guess by the time this is posted you will be able to buy the new track! I feel like it should have been released as an NFT but I am not sure if this will be the case.
PS – If there is ever a Symbol Cryptocurrency Girl then please let me know!
That’s it for today!
Thanks again for reading and please email admin@symbolblog.com or DM @blog_symbol on Twitter if you have any news to share!
I’m a Symbol and NEM enthusiast and run this blog to try to grow awareness of the platform in the English-speaking world. If you have any Symbol news you would like me to report on or you have an article that you would like to publish then please let me know!
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