True Tesla Technologies and Digital Currencies
After spending nearly 6 months working with the Teslacoin development team we decided to terminate our agreement with them. Primarily it seems the developers are spread across the world, have a mixed bag of skills and no way to put it all together in a symphony of success. Perhaps the project is not doomed, as long as the development team can open up to realising what they are seeking to achieve.
On reading the whitepaper one can establish it has been put together to satisfy a particular segment of the population. Mission is a priority, and wishing to break the way innovators are funded is admiral task; but it is a business model! Trying to discover who the team are is like seeking a needle in a haystack, and then there are other concerns that begin to mount.
Despite a signed agreement outlining many areas of cooperation, Teslacoin did not complete any of them. Instead this was met with avoidance, ignorance or just plain old stupidity. A schedule was agreed at the outset of the agreement, and this eventually all began to fall apart in the summer. Teslacoin had received lots of media coverage due to sponsoring of several events, all this was the build up to launching Teslastarter.
August 24th, then September 14th then 28th then October 4 then 17th were all set as launch dates. Having sent many professional and business toned messages to the developers it became obvious there is something intrinsically wrong at Teslacoin. Within the groups we can see that the wallets are not working as they should, other developments promised not delivered. And then finally after 4 years of “development” the team launch Teslastarter on 17th October 2018.
True Tesla Technologies was scheduled to be launched on that date, but on careful consideration, it was decided the platform was not ready for such a project. We were given access a few days before the launch, and there was Pandora ’s Box of issues. What we did find quite alarming was the fact that the platform is not created by the team. It is an open source solution from GoTeo, and one that the developers never took any time to hide.
Our attempts to convince Teslacoin to allow our team to assist them with marketing, coding and web development was rejected. When they were reminded of their legal obligation to honour an agreement they signed, is when the finger pointing and name calling became apparent. Simply put, they were offered to settle the old agreement in full, by honouring their pledge of support as well as the marketing budget they promised.
We offered them a new agreement which ensured they would continue supporting the construction of the first Tesla cascading hydro power plant. In return we would provide them access to our partners and experts to guide them in to forming a proper structure and vehicle which would satisfy the discerning investor and innovator. With the number of coins in circulation, a hard fork, and a call to their community would have set the way for a better future.
After lengthy discussions with the development team, we have decided it necessary to inform our supporters the reality of Teslacoin. In no way does it affect our belief in the concept they hold, it is the development team that shall open and allow proper help to ensure its successful goals. True Tesla Technologies recently entered into partnership with Earth Dollar, another digital currency that will launch in the next few years.
Digital currencies are here to stay, and no matter who decides to assist with the development of Tomislav Tesla’s work, there is a need for careful scrutiny and evaluation of all crypto projects at the moment. Even the well-funded projects are yet to manifest their promises and whitepaper goals. Very few are linked to physical assets, and are just concepts, promising the world “something”.
It is disappointing to end our cooperation in this way, but is an important lesson in the founders’ path towards placing True Tesla Technologies on the world map.
True Tesla Technologies will be speaking at the following upcoming events
VI International Conference “Integration, Partnership and Innovation in Construction Science and Education”, Moscow State University of Construction – 14- 16th November (www.ipicse2018.org)
Inter Hydro 2018 Salzburg, Austria 29- 30th November (http://www.renexpo-hydro.eu/en/conference/conference-program-2018/hydropower-practice-seminar-power-plant-construction-technology-components/)