Thor April 2018 Progress Report


Reggie Clodfelter

Director of Communications at Thor
“It is a very exciting time down here at Thor HQ! We have been running at a hectic pace since our Token Sale completed on April 6 (though, to be fair, we were running at a hectic pace since well before then). The Token Sale was quite a success, providing Thor adequate resources to work towards our goal of developing blockchain-powered gig economy solutions to help contractors earn more, faster, and more securely.
David Chin, CEO, Thor Token
I am personally humbled and honored by the vote of confidence we were given by people all over the world. It is truly incredible. Our whole team has been energized seeing how much support there is for our dream of fixing the gig economy.
Now that the sale has concluded, we have jumped head first into production, implementation, and customer outreach. We have already begun making progress towards a number of essential partnerships, and the reception among On-Demand companies we have spoken with has been overwhelmingly positive.
We will continue to update our community as more and more of these developments are ready for public consumption. Stay tuned! Thank you all for all of your support. We are looking forward to building a great company. This is just the beginning.”

— David Chin, CEO, Thor Token

Job Opening!

We are seeking a Full-Stack Engineer who wants to apply what they already know about software development in the context of the blockchain. Specifically, we recognize that the blockchain space is still in its nascent stage, so we’re seeking strong software developers who want to dive headfirst into blockchains, smart contracts, and cryptocurrencies. Must be local to the San Francisco Bay Area. Click here to apply or learn more!

Technical Production

Our engineering and design teams are currently mocking up a production-ready beta of the Thor Mobile Platform to be delivered to the App Store by the end of May! The functional mobile wallet will allow users to hold and share their Thor Tokens. We will also allow users to purchase discounted Thor swag with their tokens in order to both reward our Token Buyers and test out the payment infrastructure of our Platform.

Keep an eye out for our updates and be one of the first to download it once it is available!

Regulatory Requirements

With the massive importance that navigating the regulatory thicket will have for implementing our vision — from regulations surrounding healthcare and insurance to banking and utility token requirements — we realized the overwhelming need we have for legal expertise around the clock. That’s why we decided to take Ben Lambert on full time. Ben was formally Vice President and Senior Counsel at Umpqua Bank and was one of Thor Token’s early advisors. Now he’s officially our Director of Legal Operations and Business Development!

In his new role, Ben will focus on aligning our business model with current regulations and ensuring that our platform is well positioned to adapt to the ever-changing regulatory environment. We’ve been diligently monitoring the regulatory landscape and are encouraged that the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) are engaging in productive dialogue with industry leaders and working towards a solution that balances innovation with appropriate legal oversight.

Our vision of providing a utility-based hub for independent contractors continues to become a reality as we incorporate functionality into a tangible single-platform solution. Providing access to much-needed benefits remains a fundamental pillar of the Thor platform, and we are excited to leverage favorable changes in legislation to bring long-term benefits to independent contractors whose employment benefits—if they received them at all—would have otherwise ended at the conclusion of each contract engagement.

Business Development

Post-Sale, our BizDev efforts — spearheaded by David and Ben — have shifted into high gear! We have been engaged in talks with our current partners about their needs and how the Thor Platform can best served them.

We have also been sitting down with On-Demand companies interested in implementing Thor’s Payment Solution to gauge interest and clarify the specifics of our offering. The reception has been fantastic and has really validated the value our product will bring to the industry.

We will continue to post announcements of new partnerships in the coming weeks as they are ready to be made public.

Monthly Happenings

  • We completed the audit of our Token Sale! Among the more staggering revelations was the sheer geographic reach of our Sale. We had people from 126 different countries, including all 6 inhabitable continents (sorry, Antarctica) pass KYC/AML. It is truly incredible the real and imagined borders that blockchain/cryptocurrencies has allowed us to cross. The 42,930,776 THOR that were not purchased from the ICO smart contract have all been burned, leaving 57,069,224 tokens as the total supply and 7,069,224 in circulation. Read more
  • Thor CTO Matt Moravec led a fantastic NEO dApp session at the Thor-sponsored Women In Blockchain Hackathon in Downtown Oakland, California. The event, hosted by Team Block Society, was aimed at encouraging exposure for female developers interested in breaking into the often male-dominated blockchain space. About half of the participants in Matt’s workshop were women, and all of them were talented young developers with a bright future in the field. Read more
  • We released an early outline of Thor’s Payment Solution accompanied with some beautiful diagrams from our Artist General, Matthew Lawler. Leveraging the NEO blockchain, we will be able to implement a payment solution that pays contractors faster than any option currently on the market (with no additional fees to the contractor for the service) and cheaper than any alternative for On Demand companies. It’s the type of panacea every industry needs to move forward. Read more

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