How RedFOX Labs is Bringing Proven Business Models to Emerging Markets
Crypto-powered startups’ development phases are as varied as the countries from which they originate.
Some are only now dipping their toes into the digital waters — eager to bathe in the splendor of a decentralized, tokenized future. These crypto rookies may possess an idea, and sometimes a whitepaper abuzz with the latest trends and lingo, but rarely lay claim to a functioning product.
On the other side of the token are established teams, operational for years and listed on CMC long before the crypto market’s last actual running of the bulls.
Komodo platform falls into the latter camp. Komodo is nearing its 3rd anniversary — an eternity within the realm of digital assets.
Plus, the team’s tech surpasses most projects in all of crypto-land. Between atomic swaps, their own DEX, custom blockchains as a service, and innovative protection against 51% attacks, the green dragon is a sleeping giant.
Now, don’t let 2018’s downturn fool you.
Current crypto prices betray the blockchain industry’s ceaseless innovations and forward progression.
Incredible, ongoing developments occur daily. There are a lot of activities happening behind the scenes that have nothing to do with price.
Although it’s just that — a feeling — projects like Komodo impart the impression that they’ll blast far beyond their all-time highs once the bulls come stampeding back.
And in the vein of transparency — one of blockchain’s most desirable benefits — you should know this:
Disclaimer: This is not investment or financial advice. Information within this article is primarily speculative opinion, and for entertainment purposes only.
Always conduct your own research before involving yourself with any project — in or out of the crypto market. The author holds the native cryptocurrencies of both projects mentioned within. Did you make it this far? Congratulations!
Sure, profits may very well be why you’re into crypto at all. But this article’s not about price speculation. Today, my friend, we’re talkin’ tech.
More specifically, we’re discussing how a new startup — RedFOX Labs — analyzes highly successful companies operating in the U.S. and China, then uses blockchain to launch similar services in Southeast Asia.
Accelerating Mass Adoption
There’s sound reasoning behind the decision to set up headquarters in Vietnam. For starters, it’s smack dab in the middle of a region boasting over 100M people who’ve spent between 25 and 34 years on this planet.
Team RedFOX Labs obviously did their homework.
Southeast Asia — Brunei, Burma (Myanmar), Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand, and Vietnam— is home to a $72B Internet economy.
And that ever-expanding figure means the local market presents an abundance of opportunities for growth.
Not only does the area contain a high concentration of blockchain’s ideal, tech-savvy demographic, but there’s a high concentration of unbanked individuals.
When you don’t have access to basic banking or credit facilities, cryptocurrencies are a simple, useful, low-cost entry point into mainstream finance.
And when regular people — not just crypto enthusiasts — start using cryptocurrencies for everyday purchases, the overall market’s in for a fun ride.
Crypto will become so woven into the fabric of everyday transactions, people won’t have to think twice about using them.
And in some instances, they won’t even be aware of they’re using crypto at all — precisely what the RedFOX project envisions for the future. The startup wants to seamlessly integrate blockchain and crypto into newly created organizations.
And they’ve chosen one of the world’s most rapidly developing territories as their blockchain business breeding ground.
A Massive Head Start
Yes, RedFOX Labs is one of the new kids on the blockchain. But the good news is that the underlying technology is anything but unproven.
You see, unlike the vast majority of crypto-powered fledglings, RedFOX enjoys the luxury of leveraging pre-made blockchain solutions.
Once the team deems a business is worthy of creating, all that’s left is to build user interfaces on top of Komodo’s existing blockchain architecture.
However, before reaching that point, there’s a strict and thorough vetting process. After all, if you’re going to sink time and resources into building a company, you first want to tick lots of boxes.
Businesses must meet the following criteria before RedFOX moves forward with creation:
- Enhance the local economy
- Quickly scalable — projected revenue of $25 million in the first four years
- Be the 3rd or 5th company of its kind to come to market
- Capable of stealing customers from two or more companies owning 80% of market share
- Can acquire trademarks and/or patents for products on services
RedFOX has a focus on logistics and supply in the eCommerce, online travel and media, gaming, as well as ride-hailing industries. In addition, the project always takes a blockchain-centric approach.
“If it doesn’t get enhanced by using blockchain, then we don’t build it.”
Having ready-built tech is an enormous business advantage. Once the project selects its first creation, I foresee a rapid ramp-up.
And since RedFOX shares Komodo’s tech, it already surpasses comparable projects:
One crucial aspect of evaluating a startup company is its leadership structure.
And with a tireless, helpful, and influential marketer — Bitcoin Benny — helping to steer the ship, RedFOX Labs is undoubtedly headed in the right direction.
Coincidentally, Mr. Fairbank has C-level experience with Grab, one of Southeast Asia’s largest ride-hailing companies.
From an operational standpoint, it’s important to note that RedFOX Labs doesn’t intend to run new businesses themselves. After an intense 200-day co-creation process, RedFOX hands the project off to a team of local experts.
RedFOX then gets back in the lab to begin strategizing the next business.
However, returning to home base with the team is a large percentage of their new creation’s equity, as well as seats on the executive board.
Reading between the lines, RedFOX looks to be a solid long-term play. The timescales for product selection and building mean the better part of a year will roll by before we see the first incubated business take flight.
And once the team reaches the point at which their first unicorn-in-training spreads its wings, expect to see rapid development. There should be some steady growth and perhaps even incubation overlap within those 200-day blocks of concept through launch.
With the backing of one of the blockchain space’s most reliable and capable projects, hurdles are auto-cleared, and the path to the future appears clear and bright.
Is the overall scope of the project ambitious? Yes. Does the project have a good chance of hitting its targets? It’s too soon to tell, but early indicators say yes again.
No doubt, RedFOX is one of the few projects that get me excited about what 2019 has in store for all of us.
If you enjoyed what you just read and would like help getting your crypto message to the masses, I’d love to hear about your project.
Even if you only want to chat about crypto or your favorite blockchain innovations, you can find me here: blockchainauthor at Gmail
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