Overview of the development of the Simba.Storage company since its inception. What has been done and what lies ahead?
In the cryptocurrency industry, particular attention is being given to the issue of digital asset storage. In the modern world, the number of fraudulent schemes and the level of hacking skills are constantly and steadily growing, leading to cryptocurrency platforms, protocols, and hot wallets getting hacked, resulting in theft of user funds.
The most reliable cryptocurrency vaults are constantly working to improve their cybersecurity systems and perfecting themselves in providing the highest quality services to their clients, who then may trust the safety of their assets and spend their time on their own pressing issues.
One of the most popular Bitcoin vaults today, called Simba.Storage, offers services for the cold storage of “digital gold.” The company plans to place storage vaults in four crypto-oriented jurisdictions: Switzerland, Liechtenstein, the UAE, and New Zealand. The company is currently registered in Switzerland, Liechtenstein, and the UAE. The company has also already received a storage license in the United Arab Emirates, in Dubai.
The company has come a long way to become one of the safest cryptocurrency vaults. But it isn’t resting on its laurels here, it’s still developing services, expanding opportunities for its customers, and setting new goals.
The path already travelled
It all started with Anton Katin, known in the crypto community as an analyst, investor, and entrepreneur. He assembled a team of experts in all areas of the digital asset market along with finance and legal industries, and successfully registered a company in Zug, Switzerland with an authorized capital in BTC equivalent to 150,000 Swiss francs. Soon the necessary registrations were also made in Liechtenstein and the United Arab Emirates, and the authorized capital of all companies is currently 27,426 BTC, equivalent to over 1,000,000 Swiss francs.
After successfully registering legal entities, Simba launched their ecosystem and a number of products:
- SIMBA token backed by Bitcoin (1 SIMBA equivalent to 1 satoshi);
- SST (Simba Storage Token) — utility token;
- And of course the main ecosystem component, the Simba.Storage Bitcoin vault.
Let’s take a quick look at how the company’s products have been performing.
The SST token’s release was followed by its appearance on exchanges, a list of which can be found on the most popular resources in the crypto scene, namely Coinmarketcap and Coingecko. SST can also be purchased on the simba.storage platform itself.
After entering the market, the asset skyrocketed from $0.10 to $2.57 at its peak, which brought early investors an almost 2,500% return. As of now, SST’s price has naturally corrected and consolidated, now a comfortable entry point to the asset. It will continue to grow in the future, having all the prerequisites.
As part of the marketing campaign dedicated to the SST token, a five-level partner program has been launched, allowing partners to earn up to 40% in USDT by attracting new users. This is one of the most common mechanisms in the cryptocurrency market for community growth. The list of SST achievements can be complemented by adding the asset to the Delta Direct and Blockfolio (now FTX) apps available on iOS and Android, allowing for tokens of interest to be tracked, exploring projects, and more.
Regarding the SIMBA token. With the token, one can distinguish the release of an updated smart contract V2.0 and listing on the popular decentralized exchange Uniswap, operating on the Ethereum blockchain.
The SIMBA token was also recognized by UAE financial regulators. A partnership has also begun with a financially licensed London-based company to enable the purchase of SIMBA with bank cards on the simba.storage platform.
Laying a solid foundation in the long term, the team has begun actively recruiting more and more competent international specialists in the blockchain industry. For example, in October 2021, CBO (Chief Business Officer) Jorge Sebastiao joined the team. Having a great technical background and experience in the Blockchain industry, Jorge is assisting in the strategic development of SIMBA Storage, improving the quality of services provided, and attracting customers.
A new COO (Chief Operating Officer) Alun Richards has joined the staff with over 30 years of experience in financial services and consulting in various management positions. Within Simba Storage, Alun is dedicated to addressing strategic and economic challenges, helping the company continue to grow in the international market.
As well as Advisor — Mark Limanov, who is a professional in the field of strategic planning and business negotiations. Thanks to his extensive experience, connections, and knowledge, Mark is helping SIMBA Storage in strategic development, doing business, and attracting new major partnerships.
Other successes include the addition of the pre-order function for branded virtual and plastic Simba.Storage cards, which are supported by Apple Pay and Google Pay and open up the possibility of paying for goods and services in everyday life. After the release of the cards, this will not only be a big step towards the adoption of cryptocurrencies in general but also increasing interest in the company, attracting new users to the Simba ecosystem, which can also be deposited into the piggy bank of prospects indicating an increase in the price of SST in the future. Building relationships with opinion leaders and organizing work with the 300 best projects with Coinmarketcap, which Simba pays special attention to, as it also positively influences an increase in brand awareness and further company development.
The successful operation of all products, the project concept, and a responsible approach to its development has allowed Simba to join the ranks of one of the most promising cryptocurrency companies and startups, becoming a member of the Crypto Valley Association, a respected association in the community whose goal, among other things, is to promote innovation and the cryptocurrency industry for the massive adoption of digital assets.
The list of some of the most recent and significant events for Simba.Storage can be supplemented by the development, testing, and deployment in three countries of proprietary hardware equipment supporting multi-signature technology, which provides the maximum degree of protection for cryptocurrency storage.
In the case of Simba.Storage, the multi-signature algorithm implies that in order to withdraw digital assets or perform any important operations, it is required that several authorized storage employees sign the transaction using their private keys while being in different parts of the world. This mechanism allows altogether avoiding the risks of access being gained to funds by intruders, even if they might manage to get ahold of one of the private keys.
It is worth noting the implementation of an identity verification procedure with automated document verification and facial recognition technology using a smartphone or computer camera, thanks to Sumsub support on the simba.storage platform, which also significantly increases security while improving the user experience.
In addition to the above, the list of team’s accomplishments includes:
- Obtaining the first license to carry out OTC transactions in the United Arab Emirates;
- Obtaining a DLT license in the United Arab Emirates, thereby allowing the legal issuance of utility tokens;
- Obtaining a storage license in the UAE;
- Opening an office in Dubai in one of the most prestigious and safe buildings in the city;
- Conclusion of a contract with 3 marketing agencies;
- Increasing the social network community to more than fifteen thousand users;
- Releasing more than twenty reviews and videos about the project, including the release of the official trailer. Publications in more than 160 social media outlets and the publication of more than thirty articles on cryptocurrencies and blockchain;
- Organization of work with venture funds and the formation of proposals for 543 companies.
- Opening of offices of partners of Cryptoconsulting LLC in the Russian Federation. Becoming a member of RAKIB (Russian Association of Cryptoindustry and Blockchain);
As for immediate and global prospects, the company plans to increase its authorized capital to 50 million francs and obtain a custodial storage license in Liechtenstein (FMA).
In addition, the company will begin its development in New Zealand following this roadmap.
The campaign to attract an audience has already begun, and prospects in the distant future, SIMBA Storage sees its development prospects as follows:
- Increase in storage customers to 30 million active token holders;
- Placement of storage equipment in 4 countries: Switzerland, Liechtenstein, the UAE, New Zealand;
- Obtaining licenses for custodial storage and exchange in these respective countries;
- Issue of proprietary cryptocurrency cards;
- Security token issue;
- Release of proprietary crypto wallet;
- Improvement of platform and interface usability;
- Status as the largest international repository.
- Token integration on a global scale;
- 30 million SIMBA holders.
- Buying SST from a bank card;
- Increasing liquidity to $500 million per day;
- Access to top echelon exchanges;
- Entering the TOP 30 cryptocurrencies of CoinMarketCap;
- More than 300,000 holders.
Of course, there are still many things to do along the way for Simba.Storage, but all signs show that the demand for the company’s products will only keep growing as the organization expands its influence. To implement all the plans, the work is carried out systematically and fundamentally, which lays down development prospects for many years to come.