Polkadot Business Development in Brazil - Continuation of Operations
Beneficiary:Date: 20.05.2024
BENEFICIARY ADRESS: 16Hbza9mgMR1xwbAhZMnbJQLKYmmGG1GSndpRAdNumhuRAuP
Requested allocation: 386,650 USD Subscan’s price converter (EMA 7 22.05 = 7.25 you can check the budget and simulation in the page 15 of proposal doc)
Proposed Curator reward: 5% (calculation based on BD Team Compensation)
Short description: Continuation of operations for a working group of ecosystem agents to convert identified leads that have demonstrated interest in Polkadot into Polkadot builders or partners to establish the foundation for Polkadot to become Brazil's leading blockchain ecosystem.
Read Full proposal here: Full Proposal DOC
Read our full report here: Report of Deals and Strategy (Past Proposal)
WEB3 FOUNDATION LETTER: Endorsement and Support for Benshigeru DAO and John Rhodel
LEGAL ENTITY : BENSHIGERU DAO LTDA (REGISTRATION WITH THE GOVERNMENT OF BRAZIL)
1 . Context
Context This initiative aims to continue our efforts in developing partnerships and collaborations in Brazil to be part of the Polkadot ecosystem, whether in the form of a new Parachain, a Dapp, a complement to a Parachain or just one more player building using the Polkadot SDK. The current demand for these alliances is enormous and it’s impossible to carry out this on a global scale. Throughout the past year, our Brazilian Business Development (BD) team at Polkadot created a plan to expand our network and form new partnerships. We started by analyzing various leads to understand the challenges and opportunities presented by different businesses. With these insights, we were able to engage potential partners and build mutually beneficial relationships.
2. Brazil and Crypto
Brazil and Crypto As the fifth largest cryptocurrency market globally, Brazil has positioned itself as a formidable player in the digital and financial technology sector. With a population of approximately 212 million and a median age of 32, the country boasts high rates of mobile and internet usage. Brazil's robust digital landscape further underscores its potential for international tech and digital financial sectors. The country ranks fifth globally in smartphone usage, with 84 million adults owning smartphones and 139 million of the 149 million internet users accessing the web via mobile devices, making Brazil the second-largest mobile internet access market globally.
Brazil is leading the international scene in the tokenization of real-world assets (RWA). In 2023, over R$600 billion (Brazilian currency) in RWA tokens were issued with the assistance of CVM, the governmental authority responsible for regulating securities, through their SandBox Program. The regulatory framework took the form of Crowdfunding, demonstrating an intention to cater to investors of all sizes and to promote the creation and democratization of various financial instruments for the Brazilian population.
3. Problem statement
Institutions of varying scales encounter substantial limitations when it comes to the integration of blockchain technology, posing a significant barrier to technological advancement. This issue is particularly pronounced within big institutions, where the threshold for technological entry is high. The operational processes of big companies and corporations are intricate, and any modifications to existing systems have the potential to incite a complete overhaul, rendering the implementation of new solutions challenging. Furthermore, these entities already contend with substantial technological requirements, directing their resources and developers toward specific projects in order to keep pace with market innovations, thus rendering the adoption of blockchain a costly and complex endeavor.
3.1 Challenges faced by blockchains in Brazil:
Insufficient workforce: Often, blockchains do not have enough manpower to support the implementation of their technologies.
Deficient implementation methods: There are no well-established methods for implementing blockchain in medium and large companies.
Unfinished products: Frequently, blockchains offer only basic infrastructure and not a fully finished product, making it harder for companies to adopt these technologies effectively.
3.2 Challenges faced by Corporations or Big companies:
High technological entry barrier: Complex operations make any changes to existing systems arduous and risky.
Shortage of qualified professionals: Difficulty in finding and hiring specialists who can integrate and implement new blockchain-based technologies.
3.3 Challenges faced by medium-sized companies:
Limited understanding of benefits: These companies often fail to understand the concrete benefits that blockchain technology can provide.
Limitations: Lack of understanding limits their willingness and ability to understand the investment in blockchain technologies, restricting their potential for growth and innovation.
3.4 Challenges faced by small companies:
Lack of incentive: Small companies often lack sufficient incentive or a suitable market to explore blockchain's advantages.
Limited resources: Without clear advantages of using blockchain, these companies remain unaware of the opportunities that technology can offer, staying tied to traditional and less efficient methods.
4. Proposal Objective and our Strategy Pillars
Objective: Convert identified people/companies or a tokenization or lending Dapp for specific markets that have demonstrated interest in Polkadot into Polkadot builders or partners, to establish the foundation for Polkadot to become Brazil's leading blockchain ecosystem. Given the strong competition from other platforms in Brazil, we want to win as many opportunities as possible.
4.1 Strategy Pillars:
Educational Initiatives and Partnerships: One of the primary methods we intend to use is through educational initiatives, forming partnerships with laboratories and universities. The positioning of these partnerships is crucial because universities and scientific laboratories are channels for relationships and fiscal benefits from the government and are able to receive grants for research and technological development. In Brazil, large companies seek and invest in universities and centers of science and technology because they can innovate with fiscal benefits or government grants. This is an excellent way to unite the Polkadot Ecosystem to develop PoCs (Proof of Concepts) or MVP (Minimum Viable Products) as the first moves toward the needs of large companies.
Constant Account Management and Consultancy: As account managers, we have a substantial pipeline of businesses interested in incorporating blockchain technology. To assist them, we will organize on-site meetings, workshops, and online sessions to help turn their interest into tangible products. We will maintain communication with both potential partners and those who have already partnered with Polkadot. For large enterprises with multiple departments, we view each department as a potential client, recognizing the opportunity for multiple collaborations within the same organization.
Transformation and Cultural Approach in Large Companies: We will adopt a cultural and digital transformation approach for large companies. After securing an initial MOU, we will enter these companies with educational and co-creation workshops, bringing parachains to participate in an educational journey. By the end of this journey, the company's employees, together with the facilitators from the BD team, will identify use cases that can become PoCs or projects. Our plan is to leverage the existing Polkadot SDK tools on Polkadot and also forward those contacts to work alongside Parachain teams on Polkadot if the business requires something that has already been built.
Parachains willing to support Brazil-based business development efforts include:
Supporting Resources and Insights: Alongside ecosystem teams, our curators will provide additional resources and insights, whether it's recommending a pool of capable developers to assist or actually developing the solution.
Delivering Leads and Resources: In addition to delivering leads to the respective parachains, if it is not possible to meet their needs with the available resources, we will rely on the resources our curators possess, guide through OpenGov proposals, or contact initiatives such as Polkadot Academy and the regional developers' community.
5. TEAM AND CURATORS
John Rhodel Bartolomé:
Bachelor of Technology in Analysis and System Development(2020) Master in Business Administration (MBA) in Project Management and Planning(2020) Bachelor in Information Systems(2023) Master of Business Administration (MBA) in Software engineering(in course) Senior Ambassador Polkadot and Phala, BD experience in FOURSYS and WIPRO BRAZIL, Founder VDS, Games bounty curator, Meetups bounty curator, also helped to produce events in Brazil.
Gabriel Bonugli:
Bachelor in Foreign Trade(2014) Technical in Logistics Coordinator(2014) Bachelor in Business Administration(2017) Senior Ambassador Polkadot and Phala / Ambassador:OAK, Peaq, Tanssi Co-Founder VDS, Marketing specialist and also helped to produce events in Brazil.
Gustavo Joppert / Jopper
Lawyer - corporate, business, international, crypto, technology Innovation Specialist (Lead Corps on digital transformation in the last 8 years). Venture Builder, Acceleration, and Fund Raising Experience Polkadot Ambassador Since 2020
Carlos Sawaki / CJ
Bachelor in Advertising and Marketing(2013) Graphic Design(2016) Polkadot and Polimec Ambassador, Co-Founder VDS. Has been contributing as a Creativity Director, Web Designer, Video Maker, Writer, Translator, Content Creation, Marketing, SEO, Podcast Production, Narration, Photography and Illustration.
Curators:
Nick Dunford:
The Director of Business Development (Ecosystem Growth) at Parity, Alumni of Oxford & SydUni. Nick has vast experience in BD and will provide valuable resources to our Bounty
Luis Dal Porto:
Luis is a former key member of the team, as a former member, he has experience in business development, he has knowledge in our workflow and will be helping with local networking. He’s now a core team member of Tanssi Network.
Ryan Haczynski“ Phunky”:
Ryan is an active Polkadot member, he is ahead of Lucky Friday that drives Web3 innovation by assisting enterprise adoption, will provide experience and knowledge to foster Polkadot adoption on enterprises.
5. COMPESATION (you can check the budget and simulation in the page 15 of proposal doc and understand the remunaration and bonus) but here our base salary:
Base Compensation: The Business Development (BD) team shall receive a monthly base compensation of $7,000 with the possibility of achieving more compensation through an incentive System.
The Results Multiplier: This is a strategic incentive mechanism aimed at improving the monthly team's compensation by achieving specific objectives related to the development and integration of projects on the Polkadot platform.
The multiplier is calculated as a percentage of the base compensation and is applied in accordance with the following guidelines:
2x Total Monthly Compensation: When a qualified lead is passed on to an existing Polkadot project in areas such as Smart Contracts or Education about the ecosystem in order to start relationships for further partnerships with Polkadot and train developers.
3x Total Monthly Compensation: Initiatives that will promote developers in the Polkadot development kit.
4x Total Monthly Compensation: When a Polkadot-based project executes a commercial agreement with a credible partner (e.g.: evidenced by posts on LinkedIn or other social media about a chain onboarded into Tanssi).
Point of Attention: If the Business Development (BD) team fails to attain the specified goals and does not utilize the entire allocated bounty DOTs within six months, the curators will authorize a transaction to transfer the remaining DOTs from the bounty wallet to the treasury.(MORE INFO IN 15 PAGE OF DOC)
Q&A
Is blockchain something attractive to Brazil? How is the adoption going?
Yes, this is highly appealing. The Central Bank of Brazil is working with us to build a private EVM chain, and Brazil's largest digital bank, NuBank, has also developed a private chain for its loyalty program, which was a huge success. Many other initiatives with big corporations in Brazil are adopting Blockchain (big banks, retail, tech, and all kinds of industries). This combination has ignited intense competition for blockchain adoption in Brazil.
If the initiative ends for any reason, what happens with the Dots in the initiative Wallet? T
he money will be returned to the treasury.
Does the initiative have a time limit of 6 months?
The Business Development (BD) team's designated timeline is six months; however, the bounty curators have the discretion to extend the duration of the bounty. This flexibility is essential as the BD team's performance may occasionally be impacted by deals nearing closure, which may require additional weeks to finalize. Consequently, the curators hold the authority to prolong the bounty beyond the initial six-month period. Nonetheless, it is important to note that the curators retain the right to terminate the bounty at any point following the initial six months.
Does the BD Team use any legal entity in the relationship with Brazilian Companies?
The team uses "BENSHIGERU DAO'' as the designated corporate interface with brazilian companies registered by Government from Brazil since 21/07/2021 under the administration of John Rhodel Bartolome. All team members have reached a consensus on utilizing this company, given that most companies require a corporate entity, rather than an individual, to comply with their registration and compliance protocols. It is pertinent to note that compliance procedures typically necessitate evidence of authorization and representation of Polkadot. The BD Team consistently elucidates the governance framework and the Bounty process, which have conferred legitimacy upon us from the community to act as representatives of Polkadot for Brazilian companies. Additionally, we possess a letter from W3Foundation that confers upon us the authority to engage with these companies (this help us to be faster on the registry/compliance phase in the companies).
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The guys have shown success, they are extremly motivated, they understand the Brasilian market and they are very nice people. I strongly support the continuation of their work and look forward to working with them in future.
one problem I tend always face while in brazil that every single service or application is unreachable as foreigner without national social "security" number. would be great to see some bd development resolving that. I also believe that it would be tremendous potential value capture to resolve this for all the tourist/visitors etc not able to order even food with basic apps like ifood. foreigners are also barred from basic payment applications like Pix so some bridging solution to these applications would would be amazing.