RE:RE:RE:Conference Call PlaybackWhat are you guys talking about? I grant you I would not have declared commercialization Oct 8 when to most people this means you start earning revenues. Revenues are expected to commence Feb1 upon completion of a successful security audit.
These guys aren’t just good on the call, the RB team were fricken OUTSTANDING. The lead guy Todd Taylor learnt about B.C. early, in 2012 when he was with IBM. He taught the first blockchain course at the U of Arizona and teaches there now and runs a blockchain consulting co. His partner Straker is super impressive too with his Accenture (Andersen Consulting), SAP, finance and ledger eerience.
Tommy Sullivan is from the title insurance industry and has great experience and is strong on technology. He’s the key to adoption. As Todd Taylor said everyone in the industry is talking about blockchain but the key Is getting it into business model and industry adoption (hello Tommy and he’s doing it for free as a GRB shareholder. GRB has both components to success.
FATCO THE NO 2 TITLE INSURANCE CO IN THE US WITH $7B REVENUES HAS ENDORSED ALL OF ITS FRANCHISEES TO ADOPT REAL BLOCK. With this endorsement, Tommy has 10 to 15 firms lined up to install RB when the green light is given, hopefully on Feb 1. These firms are family firms (like his), they are “friends”.
Tommy’s 2 companies do 2500 transactions a mo. When they forecast $14m Income from 60,000 transactions per mo they were basing it on a run rate of signing 23 more companies like Tommy’s. So conceivably you might be able to take Tommy’s plus 12 more “first movers” and be halfway to the 60,000.
They have the back end all completed and designed to handle huge volumes. They are using some kind of virtual technology and did I hear infinite? Nah. They have been and continue to talk to a major title insurance firm called Old Republic. They are going to meet with the co that owns Coldwell Bankers, next week I think he said ?, to demonstrate.
YES THEY NEED TO PASS THE SECURITY AUDIT, TRAIN, OPERATE AND SCALE. But they seem pretty close to me. This is why you need to listen to the call and gauge these guys and Jeff Ciachurski. Are they for real or just a bunch of salesmen, lol.
There are blockchains in real estate but none doing what they are doing, except one competitor called Safety Chain. Taylor said that RB had superior technology to safety chain (led by Todd Taylor and programmed in America) and the Safety Chain doesn’t have any industry experience and contacts on staff (-good luck with that, right?). Sorry guys you have a real big staff and young talent but I like what we have.
RB is establishing an ‘in’ by securing the transaction at just US $22 per transaction and then during 2019 (they mentioned 6 mo, but I’m not sure what that means) they’ll be working to expand the offering and be able to charge twice as much. There will be no dilution at these prices.
So that’s the plan, you can pay them now or you can pay them later because I’m not selling.