I agree that the ppt presentation doesn’t really tell us anything new. I listened to John speak last week and he also didn’t give too many details away. I think the company realises it has not been as successful as it would’ve hoped by now. It’s frustrating, I know. The company really needs to convert a few of the deals they have indicated are close to execution in recent months shortly otherwise it will look like Overlay+ won’t succeed in the market.
But I think there are a few key reasons why the product hasn’t been able to sell yet. 1. To date, many target clients have not taken certain compliance functions seriously enough and have in turn not invested sufficient amounts into compliance, including tech (ie. AUSTRAC reporting—at least two of the Big 4 banks clearly have not taken this seriously enough). I think this is changing. 2. I think target clients might have been unaware/uneducated about blockchain tech and, as such, hesitant to take it on (this is also the responsibility of the company to educate and demonstrate the advantages of the tech so customers are comfortable taking it on). 3. Use Cases - the company has only recently started to a bit more clearly articulate and develop focused use cases for Overlay+ (Reg reporting, FX payments, counter-party assurance). 4. I don’t think the company had a great sales approach before this year—they have gone a new direction with the various exec changes this year and so they should be afforded some time to execute on this approach.
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