Community interaction is a key aspect for brands that have been involved in crowdfunding exercises ahead of product development and establishment. It serves to keep investors abreast of developments while working to sustain the developmental plans that are usually based on the projects original promise.
Building Community Confidence
Consistent communication channels and effective feedback mechanisms are key elements towards building the confidence of investors and overall followers of given projects. It also serves as a check to ensure that development teams are kept on their toes in the management of raised funds especially in the non-regulated blockchain ecosystem.
Effective communication at face value may seem just a simple information dissemination mechanism, but in the actual sense, its effect goes beyond just provision of information. It goes as far as affecting the community sentiment as well as influencing the thoughts of intending participants in the form of new investors and product adopters.
The cryptocurrency market has experienced a severe bearish trend in 2018. This phenomenon is coincident with the product development period of many projects involved in the ICO boom era. Therefore, in order to retain the confidence of their followers and community members, core teams must take the responsibility of open and transparent methods of showing their workings.
Continuous Awareness Even After Crowdsale
One project that has been consistent in providing its community with step by step updates on the activities of the development team and that of its partners is UBEX.
Since after an ICO that is adjudged to have been very successful by the overall crypto community, the project team have not relented in their efforts in improving the awareness level of the project.
Ubex represents a revolutionary system in the digital ads industry. The project combines blockchain technology, artificial intelligence, neural networks and other precision technologies in order to achieve a more effective advertising system for participants within the marketplace.
Among the recent updates by Ubex is its adoption of the Amazon Web Service as its Database Centre.
According to a post on medium, the cloud service which is provided by Amazon(https://aws.amazon.com) suites the requirements of the project and gives sufficient resource support to make the bidding process and participation in it possible.
This conclusion was arrived at after rigorous research and repeated testing by the project’s engineers. The database is expected to permit the enormous task of handling huge processes in real time that will cater for high performance requirements on DSP / SSP platforms, such as answering an auction request in 100ms in order to place a bid.
Eventual Effect On Underlying Tokens
While generic users remain satisfied with the ongoing development processes of projects, investors and speculators are also benefiting from the ripple effect of these actions. This group who focus on token value in anticipation of future growth feel more confident in hodling, and even acquiring more tokens seeing that product launch is bound to create huge demand for these tokens.
All round, every community needs to be confident of the operations of the core team. Asking question and receiving feedback are simple practices that cannot be overemphasized in the decentralized ecosystem of blockchain technology.
For a technology that revolves around its users, the place of community interaction cannot be overlooked. Often times, this has been the difference between successful and unsuccessful projects especially after crowdsales.