On telegram we caught a deep briefing of GoCrypto project written by Dejan Roljic CEO of GoCrypto. It’s a very good reading and a very nice presentation why is GoC very alive project and what are the plans for the future. He is writing by the steps of development from the beginning till now. 

So let's start – written by Dejan Roljic CEO GoCrypto (we didn't change anything except we add "two" commas and delete three "filthy" words :) ) 

Dejan:

1. We raised aprox. 10 MIL USD that were hooked to ETH and due to the regulatory perspective and taxation in Slovenia we couldn't exchange it into fiat immediately, but we had to wait for few months in matter to do it. In these few months we all know where ETH was. We exchanged everything into fiat as soon as we could - just to stay on the safe side.
2. We were already building the advanced e-commerce AI platform in which the whole idea was hooked to the price prediction and comparison of product quality and price.
3. Our idea was to bring crypto to the mainstream and change every household into a business by changing the way people buy, pay, track and resell the product.
4. We didn't have 24 MIL USD that we would need to make everything work so we had to put our heads together and make a decision. Which part are we going to nail first?
5. We decided that segment pay would be something to nail because crypto was still unknown and you couldn't buy anything with crypto, almost anywhere that I would really know. So in the matter to show that you can buy something we created the Elipay and Bitcoin City.
6. In the matter that Elipay really worked we needed to first make it clear with the regulator. Because we were a custodial wallet that is making payments and converts crypto into fiat that stays in the merchant dashboard. So the regulator said, OK you can do it but the whole KYC process with the video call needs to be made and AML policies need to be in place.

1. In the matter that you can actually do the payment we had to develop the payment processor. Whole payment processor.
2. Whole APP with all processes, together with the location lists, referral, rewards and taking pictures of the receipts.
3. Elipay was born together with the first 100 locations that accepted BTC, ETH and later on ELI token as payment. ELI token was immediately released as a currency. Just try to imagine.
4. Token was listed to first exchange and started to fall...simply because our ICO was approx 3 months long and ETH was moving between 400 and 800 USD (or even more and even less)...some people entered the ICO with ETH that was more expensive and some when it was cheaper...

But just to understand. If you bought the ETH when it was 400 USD then you already made 50% profit on the GOC that was locked because of people who bought it at 800 USD or even more. Thanks good at the end of our ICO the price of ETH was close to that but it started to fall immediately.

1. We saw potential in our first revenue connected to payments - simply because merchants really liked it, it was simple and it was fast. We decided to put more focus on to that. In the back the platform we still being developed because we wanted to reach all our personal and business goals.

1. The business was growing to 200 locations and we had to develop the offline POS software that is being hooked directly to the cashier.

Why? Because merchants (people who worked at the counter) were afraid of making a mistake. So we went to every cashier and started with the integrations.

The business started to grow because the flow was much more friendly but every cashier needed months to integrated us - not because it would be complex but because we were a small fish - plus they charged for it

1. When we had that hooked we came to 400 locations (approx) - I'm trying to remember everything I can.
2. So we said well we are now covering the offline, lets also cover the online (that btw was already a pain that was solved by the competition like bitpay)

Anyway, we did it and start supporting all kinds of plugins - every plugin needs time.

1. In this whole process, the team was working on the HelloElly in the matter to scrape the prices of mobile phones in real-time from the market and try to make it easy for the user to use it. Payment processor was continuously being further on developed by the blockchain team and wallet as well. POS was just one of the battlefields.
2. Then we launched the first version of HelloElly and it was OK but far from good because non of the online stores/big players didn't want to give us data that was hooked to their price list or the product description. In the beginning, they were very supportive but as soon they understood that in this way they could maybe become expensive, they simply didn't answer. Our scrapers (when they didn't want to give us data) were good but it was not sustainable.
3. So because everything costs and you can't live forever and the whole crypto was down we had to make a decision and start doing traction where it matters in the matter to show that we can do it. So we moved forward with the Elipay wallet, POS online and offline and payment processor.
4. One of the most important KPIs was lets have first 800 locations.

Ajet and the whole sales team were nailing it. The marketing team was supporting them and the wallet was working as it should. We started to integrate new coins into the payment processor, we added eurotoken into the wallet, we added buy option of crypto (whole exchange needed to be created) in the matter to really work and we had to hook it to Binance, Bitstamp, Kraken and many more.

Still, we needed to work really hard on the regulatory side because these times were crazy - nobody really knew what is right or wrong so we as a company decided to follow similar regulations as stock exchanges do...

   19. We meet Roger Ver at Delta Summit.

1. I told him that BCH is being used on approx. at that time I think around 500 locations in 2 countries. He was amazed. So he flew to Slovenia to check it out.
2. We were shot on money because developers are expensive, manpower is expensive, expansions are costly and we still didn't do a lot of money in the matter to survive. WE SIMPLY believed that we are on the right track.
3. So when Roger came a second time to Slovenia we already had 850 locations, we integrated all cashiers with ELI POS, we supported no of currencies inside the payment processor, we supported everything we could on the online side and we really only two things:
4. To develop fast and 2. sell even faster
5. Roger liked us. Whole crypto was down, nobody actually really believed that something will happen out of crypto in the future - we were all scammers in eyes of many. One of ICO projects. So we asked Roger if he would invest into us.
6. Roger liked it but his investment tickets were up to two millions and we really needed like 4M.
7. So Roger helped even more. And invited Pangea Blockchain Fund to join the investment.

We got 4 MIL.

And payments became part of our DNA. So the only logical thing was (and Roger never pushed it btw) was that if we want to really prove that using crypto as a payment option we needed to be on a network that is fast and cheap. BCH / SLP was exactly that.

ETH takes time and money, BTC is expensive and slow if you want to pay with it from non-custodial...

But BCH was fast and SLP was something new and sexy for us. Complex but sexy.

So we decided to move from ETH to SLP because SLP and BCH are in payments and payments are crucial for bringing crypto to the mainstream.

1. Roger invests, Pangea joined and we were flying.

New markets, new bigger partnerships and we worked harder than ever. Imagine how difficult is to open a new market where you need to create a team, follow the regulation, you don't really understand the language, culture etc,. Developers and product teams are in Slovenia... but anyway guys we opened a crazy number of 16 markets on the regulatory side and 9 on the expansion side.

1. We are moving fast. We started to make partnerships with existing payment networks and integrate it with them - in this way we had to create the global brand so we bought the domain GoCrypto.com and start working on brand recognition. Btw we were at least on 60 fairs till this point - all around the world.
2. We created Pay at GoCrypto option where all kind of wallets would be able to hook their wallet to gocrypto network and use it for payments but very soon we saw that wallets in crypto are not ment to be used for payments - people use it for speculations and holding crypto. Only few wallets saw our potential - Bitcoin.com, Blockchain.com, custodial wallets like coinbase (that we never integrated because they were too busy)...

BTC, ETH and many others were simply not fast enough. You can't pay for something and wait for 30 minutes for transaction to happen. Lighting network never really worked.

1. I will speed it now a bit.
2. We focused on payments and expansion of it. Our KPI for end of 2019 was achieved and January and Feb 2020 were amazing.
3. Keep in mind we were keep on developing everything in the back - whole team. It's a huge product everything inside the Eligma.

1. Covid came
2. We showed covid a middle finger.
3. Still, we were stuck. Because you can't really do much on the expansion side if you can't leave the country. We were already 56 people in the company, plus ambassadors, plus distributors...
4. So what to do? Should we fire people and go slower, should we start a new product, should we wait? Crypto was in march 2020 lower than ever...
5. So we decided that to do 3 main things: One was passion, one was regulation and one was a revenue stream that will keep us alive for a much longer time. Because even if we had so many locations there weren't enough transactions that would bring us anywhere close to the breakeven point.

Passion was this (our primary idea) - it was soo easy for us because we are now a team that doesn't give us easily.

1. We launched Gorenjc app with a scrapper of the receipt, saving the warranties, loyalty programs, expense tracker, catalogs, gasoline cost etc. Everything in one simple app. That btw has more than 100.000 active users monthly just after few months. That has more than 500.000 contributed receipts. 
2. NOW THINGS YOU DON'T KNOW!

I will share this with you just because I care...I really do.

In this video you will see that Eligma just launched it's own POS that is a smart android POS and that we now process all the payments - visa, mastercard, dinners, all kind of digital payments - alipay, wechat pay, and YES no. 1 thing we added crypto into the same highly regulated device...

We invested into one company that is doing card processing with integration modules so that they can cover the whole Balkan region and we can focus on the outside...

But wait guys...

This is nothing.

What we are launching in the upcoming 60 days. From the 15th of January on I will launch every week new news hooked on what's going on on our side. All of them are probably the biggest things that are happening to our company - and I'm not hyping anything up.

1. Be thankful for this guy 👉 @rogerver because if he would be there we would probably not exists anymore. I'm not saying this because he invested in us but because he is really something...a great investor, partner and advisor from which you can learn. None of the big fishes walks around and gives people out free crypto...
2. Final one. 2021 AND 2022 ARE LASER FOCUS YEARS. WE WILL DO ONLY THINGS HOOKED TO HOLISTIC POS (and kill all these balast things that are not our focus), WE WILL BRING CRYPTO TO ANY POSSIBLE STORE WE CAN, WE WILL MAKE MONEY FROM EVERY TRANSACTION THAT HAPPENS ON THE POS AND WITH THIS THERE IS tokenomics. WE WILL PUSH GOC AND BCH BECAUSE IT WORKS AND IT'S GOOD. WE WILL BE FULLY REGULATED AND MAKE THINGS THAT MANY OF THESE TOP 100 COINS CAN ONLY DREAM ABOUT.

These are just steps from the past, written on Telegram group in less than an hour. He was just trying to calm down some guys who were spreading FUD on social media. But he did much more. He wrote a history of GoCrytpo. We hope that he will continue doing this so we can write posts like this and record the development and progress of GoCrypto in the future.

Thanks for reading. If you want to join GoCrypto join their telegram group and signup to GoCrypto app.

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Give some comment what you think about GoCrypto and ELIGMA.