Advanced Blockchain's Commitment to Stakeholders during the COVID-19 Crisis
We realise that while we collectively navigate the uncertainty of the COVID-19 pandemic it is important to keep everyone associated or in any way invested in Advanced Blockchain informed.
A word from the founders
Humanity has weathered many crises in the past. No two crises are the same and yet certain patterns emerge, similarities can be drawn and lessons can be learnt.
In the case of COVID-19 we must learn from past pandemics. This means putting our trust in our scientists and scientific institutions and following their advice and guidelines. This should apply at all times but never more importantly than when facing a global health crisis of this magnitude.
On the subject of similarities and patterns we are inherently drawn to the idea that there must be a silver lining - an opportunity amid this threat. This takes us back to 2008. The 2008 financial crisis is in many ways the birthplace of not just Advanced Blockchain but blockchain technology as a whole through bitcoin. Crises have a strange knack of creating fundamental, paradigm-shifting change.
This way of thinking - to find opportunities in adversity - is deeply ingrained in who we are and what we do. We will be approaching this crisis no differently.
That is not to say that we are taking it lightly, for that could not be further from the truth. The health of our team, our friends and families, and ourselves is of utmost priority.
We wish you and your loved ones good health.
Here’s an overview of our situation:
The wellbeing of the team is always a priority and even more so during this global health crisis. The team has been briefed regarding best practices and precautions with regards to the outbreak. We have extensive online collaboration capabilities for our employees to communicate with each other and with our clients.
We are operating in accordance with guidance from local government and public health authorities. At the time of writing Berlin is yet to enforce a full lockdown.
Operations & Productivity
As a tech company we are well suited to remote working. Our day to day operations have not been negatively impacted by the crisis so far and our productivity rate remains high. We do not expect this to change significantly should a full lockdown be imposed yet we cannot predict how far or how quickly the situation will escalate.
The market is understandably going through profoundly uncertain times and this is reflected in share prices across Germany and the world. We cannot advise in this regard but we can inform you that we will be continuing to work towards our 2020 goals. Our work will continue to be focused on what we can control.
Having just tripled our year-on-year revenues and concluded a financing round we are in a strong position to weather the crisis. We would consider further funding should the need arise. Currently it is not necessary.
Clients & Products
We are making progress as expected with our clients and everything is on track. The same can be said for all in-house products and our peaq infrastructure.
Our products don't depend on external supply chains. Our development team is 100% in-house and we do not depend on external resources in any high risk areas.
We are happy with the performance of our peaq infrastructure so far. We will continue to work towards making it more accessible to a larger audience. Now more than ever, the increase in autonomy it brings to business processes can be especially appreciated.
We are also drawing closer to finalising our first in-house blockchain product. Once complete we look forward to selling the product at scale as one of the first ready-to-use blockchain products. We will have updates over the next few weeks. We will be updating our website to include our new product page.
It takes time to be able show the huge progress we're making internally. It's all part of working with new, infrastructure-level technology which makes new products, new revenue streams and new markets possible.
That's the nature of what we are dealing with. Tech takes time. We will continue to stay true to our philosophy; underpromise, overdeliver.
In summary, we're thankful to not be badly affected by the crisis so far and are in solidarity with those who are. We are committed to doing all we can to safeguard the well-being of our team while we continue to work towards our goals during these uncertain times, in the knowledge that the crisis will eventually subside and our work will go on to make our world a better place.
Advanced Blockchain AG is a German publicly listed Blockchain-as-a-Service company based in Berlin. We build next generation blockchain infrastructure and applications for the world's largest companies and we're the first blockchain company to be listed on the Xetra (Frankfurt) stock exchange.