diff --git a/README.md b/README.md
index 79fa44d10..0c3f18f34 100644
--- a/README.md
+++ b/README.md
@@ -37,7 +37,7 @@ You can financially support the project by either:
 - Identity/Reputation system
 
 ## Project Status
-- *OpenBazaar* is currently in **beta 2.3**
+- *OpenBazaar* is currently in **beta 3.0**
 - New versions are scheduled for release at the end of each month
 - [Development Roadmap](https://github.com/OpenBazaar/OpenBazaar/wiki/Development-Roadmap)
 
diff --git a/changelog b/changelog
index 219908a27..8ac1b07a3 100644
--- a/changelog
+++ b/changelog
@@ -1,3 +1,8 @@
+openbazaar (0.3.0) unstable; urgency=low
+  <Insert Beta 3.0 changelog>
+
+ -- OpenBazaar Team <project@openbazaar.org>  Sun, 02 Nov 2014 01:37:36 +0200
+
 openbazaar (0.2.3) unstable; urgency=low
   * Messages between peers are no longer compressed.
 
diff --git a/node/constants.py b/node/constants.py
index 88a761e49..72e0c6ba8 100644
--- a/node/constants.py
+++ b/node/constants.py
@@ -53,4 +53,4 @@
 udpDatagramMaxSize = 8192  # 8 KB
 
 DB_PATH = "db/ob.db"
-VERSION = "0.2.3"
+VERSION = "0.3.0"