Goldmoney Update from Roy Sebag
With the brand unification now behind us, I wanted to take a moment and share with you our product roadmap at Goldmoney for these next two months. I hope this will help you when communicating areas of improvement and impending enhancements to the service as you do so well here in the community and as advocates for our company in general.
In terms of how we have decided to communicate the new brand, were calling the old BitGold the "Goldmoney Network" which encompasses the personal and business accounts. This is the backbone network enabling gold to circulate freely and democratically utilizing the technology we developed to rapidly settle physical gold bullion. We then have two other divisions: Wealth and Physical. Wealth is the former Goldmoney business which offers more bespoke services and lots more options to manage an increasing nest egg. Goldmoney Physical will combine our prior physical redemption business, the newly acquired SchiffGold, and a retail branch strategy. This will allow users to purchase physical metal directly (shipped to them) or through a redemption facility from network/wealth accounts.
- T-Shirt Redemptions from Goldmoney Physical
- Bank account redemption back to nearly 60 currencies at the fixed 0.5 gram redemption fee (we discussed this before and are just completing our final testing but this feature will be extremely important for many of you, especially those living in Asia and Latin America). You will now be able to earn gold on the network and redeem it as currency back to your linked bank account in say Thailand, Peru, or Indonesia - No FX friction just the 1% redemption spread + 0.5. Gram bank redemption fee.
- Full responsification of the network post-login environment. The issue here was responsification done right takes time and as we all know, time is the scarcest commodity. By the end of September, the experience on mobile will be 100% analagous to that on a desktop and will include all functionalities. That is, if you access the network from a mobile/tablet browser.
- Unified Mobile App with ONE Login for all three accounts - We know the mobile app is extremely deficient. Again, we have the majority of our engineering resources working to complete and launch the new mobile app. It will have most of the functionality on the desktop version and be available for both android and iOS. We are also improving its performance so it runs much faster and smoother. This should also be ready around the end of September.
- Enhanced Prepaid Card Experience - We are going to be unveiling an imporved Card experience. No more Cardportal. You will be able to complete all actions from requesting a card, activating, requesting PIN and most importantly, viewing all your POS/ATM transactions from within the Network account. This will also pave the way for another surprise which I can't yet discuss.
- Enhanced Wealth Account Post-Login Environment - We know that our Wealth account post-login experience is sub-par. Thus far, we have worked hard at integrating the back-end and improving the less sensitive areas of the Wealth site. Within the next two months, we will launch the enhanced Wealth Account which will look and feel as good as the Network account post-login except it will include all of the additional features and services we provide on the Wealth side. I appreciate the patience from Wealth clients thus far and guarantee that you will be very satisfied with the new experience.
- Gold Redemptions from Network to Wealth or Wealth to Network - This will become an important feature as users switch between their Personal, Business, and Wealth accounts. Gold will have to be at Brinks Toronto on either account type for the transfer to be possible. There will be no fee for these transfers. For Network users, that means there is a cost savings once you hit 1,000 grams as there is no sell fee at Wealth.
In closing, I would like to thank you all for being such an energizing community. You may think that Josh and I don't read the community board but I would say we check in at least every week and it almost always brightens our day. We see whats happening here and it helps motivate us beyond the hard data we see on the Network side.
I will end with a quick anecdote: every so often, my wife will ask why I continue to work so hard. To be fair, shes been asking me this question for about 5 years now, and it generally coincides with my persistent ability to destroy our summer vacations by working through them. My reflex response has always been: its not about the money, its about the puzzle of trying to build or invest and I simply can't turn off my curious mind once I latch on to something. Lately however, I have been coming up with a better reason: How can I stop working when I see how many lives we touch? It is no longer about my own personal journey, this business is way too important and provides utility to way too many people for us to stop. You have helped me understand this to a certain extent with this community. For that, I thank you.
All the best,