TL;DR – We are recruiting a CEO for a new company – Omniwallet.co – which will be “the Blockchain.info of altcoins and appcoins”. Please review the interim business plan and the Omniwallet service and submit applications here (the standard $6000 referral reward does not apply here).

The Bitcoin 2.0 space, and crypto-currencies in general, are maturing.

We believe that crypto-currency users deserves one, great wallet, that supports all their needs. Users don’t want to have ten different wallets: One for Bitcoin, another for Litecoin, a 3rd one for Peercoin, more for Colored Coins, Mastercoin, Counterparty, Ripple, Ethereum … it never ends!

Instead of each protocol developing their own wallet, we believe there should be a good unified open source solution that works with all types of currencies, blockchains, and protocols, under the same account. We plan to support hundreds of currencies, leveraging a modular, plugin-based, open source architecture. Users will be able to code plugins to support their favorite crypto-currencies, and even host their own versions of Omniwallet.

There is a huge business case for such a wallet company. To fulfill this business need, we are taking the team, codebase, and brand of Omniwallet, and leveraging that for this greater purpose. We are calling out for an experienced entrepreneur and CEO to step in, solidify the vision and business strategy behind Omniwallet, and take it to the next level. Instead of a division inside the non-profit Mastercoin Foundation, Omniwallet will transform into an independent for-profit company that still supports Mastercoin and the Master Protocol, but is more inclusive to other protocols.

There are several potential revenue streams for such a company, such as affiliation, API/SaaS model, licensing fees for white-labeled wallets, and more. We look forward to assisting the new CEO in expanding and refining these models, raising money for the company, and guiding this evolution of Omniwallet.

What’s next? If you have what it takes, we eagerly await your application.

FAQ

1. Who should apply?
   1. People with the right management experience, experience with Cryptocurrencies, passionate, proven entrepreneurs, and the ability to raise money from angel and VC investors and build and lead organizations.
2. Are we committed to the process?
   1. We believe it is the right move, both for Omni, for Mastercoin, and for the crypto-community at large. The timing and structure of this move depends on the CEO, the rest of the Omni team, and the business strategy we build together.
3. Who will choose the CEO?
   1. The Omniwallet team, with input from the Mastercoin Foundation board. We will not “drop down” a CEO on the team without a buy-in from them.
      As the Mastercoin Executive Director, I will personally help the Omniwalelt team with the filtering and evaluation process.
4. Will the CEO get paid? How? Is there funding from the Mastercoin Foundation?
   1. The Mastercoin Foundation itself will not be allocating a budget towards this company. However the CEO will receive founder equity in the new company.One path to proceed is for the CEO to solidify the business plan, understand the costs involved, present and approve a funding plan. Funding the endeavour will be done via the private sector and not via the Foundation. The CEO will negotiate their salary with the investors that he finds and secures.

      Potential funding sources include angels, VCs, crowdsale, and individual members of the Mastercoin Foundation board (but not the Foundation itself).

      Until funding is secured for the project, the CEO will not receive direct funding. We can consider doing a quick pre-seed round just to get the ball rolling, and setup for a larger seed/VC round in a few months.

      FYI, there is already a bounty of 5000 Peercoins available for integration Peercoin into Omniwallet.

5. How will we monetize Omniwallet?
   1. This is a strategic issue the CEO will need to decide. We believe that we need to focus on growth first, not monetization, but we should also plan out for the future monetization in advance.
6. Who are the current team members? Who else do we need?
   1. Answer on github.
7. Who funded Omniwallet so far, and how much was spent?
   1. Omniwallet.co will start as a new company, from scratch. It will take as assets the vision, team, open source codebase, and brand & domain. Out of these, the only thing that belongs to the Foundation is the brand & domain.The Foundation invested around $200,000-250,000 USD in developing Omni thus far and building a core development team.
8. How will shares in the company be distributed?
   1. This is up for discussion between the new CEO, the current dev team, and any new investors.
9. How mature is Omniwallet?
   1. It has been running as Alpha in production with real money since April. It has recently graduated to Beta stage.We currently (July 8th) have 2421 total accounts on Omniwallet. Some statistics can be found on the status page, and more are coming.
10. What is the key advantage that Omniwallet have over market competitors
    1. See the business plan.

 

References & Quotes

1. Open issues on the Omniwallet.co business plan
2. Eden Shochat, Aleph.vc
   “The potential employment impact for Europe by using the blockchain to store mastercoin / colored coins to implement local / topical currencies … is higher than the alternative value of a specific one currency like bitcoin”
3. The Value of Appcoins
4. Network Effects and Competition
5. Current state of Master Protocol on Lets Talk Bitcoin

Bounty of 5000 peercoins for integrating Peercoin into Omniwallet