B&C Exchange is hiring two full time C++ developers.

Progress has been slower than expected because developers (most of whom had agreed to work about half time) haven't put in the quantity of hours that were discussed when the project began. Fortunately, this means little funding has been consumed, so we get another chance without needing any additional funding. The best way to resolve the issue is to simply require full time developers, so they don't have any other work competing for their time and attention. Additionally, these two full time developers won't be working on the NuBit project at all. There has been a dynamic where the shared team for B&C Exchange and NuBits tends to put more time than expected on NuBits because it is a live and operational network, which means issues tend to seem more urgent than they do for the not yet operational B&C Exchange.

Previously, the strategy had been to use the same team members that had accomplished the amazing technical feats we see in the NuBits project. This approach hasn't worked. During NuBit development, we had a team of 5 or 6 people working full time. The NuBit budget experienced an 80% reduction in funding before B&C Exchange funding was successfully obtained. So, the team was mostly disbanded. Getting funding for B&C Exchange was not sufficient to pull the team back together for a second project.

With two full time developers, a full time QA resource, most of my attention going to my architect role, and a number of veteran part time developers, the project should be well positioned to be completed the middle of this year.

I am still very confident the design of B&C Exchange is practical and viable. Major progress has been made, particularly in the form of our 4.0 RC2 build, which contains a large percentage of the features needed in B&C Exchange. The change in direction toward new full time developers is likely to bring the core software to completion in a timely manner. While there is still a good chance we will be able to complete non-core infrastructure such as a web interface with our current budget, the chances appear lower than they did a number of months ago.

Much will hinge on the quality and devotion of the developers who have yet to be hired. Active shareholders should do their best to encourage excellent candidates to reach out to me.