Ask and you shall receive. Min Kim, one of the founders of the Korean blockchain ICON (ICX), took it upon himself to address the community and answer some lingering questions in the “Unnoficial ICON Telegram Group“.
The telegram group, which currently has over 20,000 members jumped at the chance to pick Min’s brain about the current state and future of ICON.
While this is not the first time Min Kim addressed the community directly, ICON has recently come under fire by retail investors for the team’s lack of communication during difficult times. A lot of times being left in the dark on current progress and roadmap deadlines which have sparked fear, uncertainty, and doubt within the ICON community.
It didn’t take long for ICON to react with Min Kim responding to such criticism by opening up lines of communication, talking about his views on the current price, the ICON roadmap, coin staking and more.
Here are the highlights.
On Current Price
I’d be lying if I say that it [the price] doesn’t have any effect. But, we put focus back on what is important and what we can control.
We need to find a way to improve visibility of our projects. With scarce resource, it’s been difficult. There’s a reason why many changed from providing dates to provide % completion. Once we hire and train more devs, we can continually improve this aspect.
This is the misunderstanding here. We did not make a promise. We did not set a deadline for ourselves. We simply shared our roadmap in Jan. Some news things entered our roadmap. Some old ideas got pushed/upgraded. We plan to update roadmap when we have better visibility into the future. In the meantime, we plan to allow improve transparency into the project.
We’ve been focusing on Enterprise and now dev community. Retail in the future.
We have <50 developers in Korea.
ICON project has about 110+ directly involved. ~45 devs but ramping up. Maybe 200 if we include external consultants, part-time, Deblock, ad4th, etc. Marketing/PR – we don’t market/pr ICX. I’m fine w talking w influencers but best after we ship more things. Think ICON as a total solution – Ethereum + Ethereum Enterprise or R3 + IBM or Accenture consulting + MEW + SBI Ripple Asia (JV) + many others all rolled into one. It’s very resource intensive than any other project we know of.
Staking Is Important
Staking is important. We’ve been running models and we’re looking forward to sharing details when ready.
The plan is to give equal opportunity. Imagine if only the rich get to run for congress. Wouldn’t be fair.
What I appreciate about the ICON community is that people care enough to voice themselves. When you lose hope, the channels (e.g. check stats like Reddit subs vs. active online) are dead. Our community is very much alive. I personally love how people are stepping up to create new Telegram channels. We even have 2 Subreddits – helloicon and icon. In the real world, communities are formed organically. I like how communities like these are forming organically in the ICON Republic.
Improving communication and transparency for me. Other things will be announced.
I’ve dedicated my life [to ICON] so I hope so.
ICON has proven itself by being one of the most promising blockchain startups to date but their journey has not been one without road-bumps. With so many expectations, hopes and dreams riding on their shoulders, the negativity could make any startup crumble.
Building community trust is hard, and re-building it is even harder, but one thing is for certain. It doesn’t seem like ICON is looking to hang up their gloves anytime soon.