Token Symbol: OMI Crowdsale Token Price: $0.05 Hard Cap: $22,125,000 Total Tokens for Sale: 500,000,000 (50% of Total Supply) Crowdsale Date: June 30, 2018 https://preview.redd.it/6h8ayvxqsk511.jpg?width=1600&format=pjpg&auto=webp&s=b6bd2367fcc767615b699d7ef198cb2196a1c45c What is ECOMI? ECOMI is a security, economy and digital ecosystem supported by ORBIS Blockchain Technologies Ltd. ECOMI aims to bring blockchain technology to the mainstream by offering a user-friendly all-in-one platform. The company is actively working on tackling the issues of security and data protection (namely private keys) in the crypto sphere. They also want to make cryptocurrencies more user-friendly and increase their efficiency when being used by different entities. In order to do this the company is creating a digital assets ecosystem on the blockchain, delivering the benefits of decentralization, ownership, privacy and control. ECOMI’s products offer the following: The Secure Wallet– A cryptocurrency and private key hardware device that ensures the protection of digital assets via a convenient credit card sized device. Designed to be completely impenetrable by malicious attacks, the Secure Wallet’s infrastructure ensures that it is never connected directly to the Internet, or insecurely connected to an online device, thus maintaining the most secure asset protection. The Secure Wallet is paired with a host device (an Apple or Android smartphone) via an encrypted wireless / Bluetooth connection. Another feature that makes the wallet stand out is that it’s waterproof and has a bend capability of 15 degrees. The Secure Wallet will launch with the capacity to securely store five cryptocurrencies – Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash and very soon it will offer ERC20 support. By the end of 2018 the Secure Wallet will support over 30 currencies. ECOMI One– Built on top of the Secure Wallet technology, ECOMI One will securely hold your cryptocurrencies, fiat currencies (e.g. USD, GBP, EUR), as well as your NFC-enabled debit, credit, and loyalty cards. ECOMI One addresses the utility problem of cryptocurrencies and their day to day usability by offering a consolidated all-in-one wallet with the capability to hold all the aforementioned assets in ‘One’ place. With the integrated debit card – accepted where all major debit cards are accepted – ECOMI One card holders can spend fiat and cryptocurrencies, using technologies such as NFC and EMV. The in-wallet exchange allows cryptocurrencies to be exchanged for fiat currencies, either directly within the app or automatically at the point of sale. ECOMI Collect– ECOMI Collect will offer a new type of collectible in the form of a ‘Non Fungible Token’ (NFT) – essentially a digital asset that has a verified owner. These NFT’s represent unique collectible items (such as rare cards or characters) that exist in the digital space and can be traced to a verified owner. In an easy to use and well-designed app users can browse a wide range of licensed digital high-quality products. Once they are purchased, collectible owners can view, trade, or visualise these digital collectibles using the latest Augmented Reality (AR) technologies, which now are standard in Apple and Samsung phones. ECOMI has secured the first crypto-collectible license – the internationally renowned brand tokidoki. ECOMI Vault– ECOMI Vault protects your data. This can include, but is not limited to, all forms of intellectual property, for example a piece of music, literature, or specifications of revolutionary new technology, as well as personal data such as usernames, passwords and also credit cards. Using a combination of distributed ledger technology and offline private key storage (Secure Wallet or ECOMI One), ECOMI Vault offers a maximum level of protection for personal and commercial data. ECOMI Vault is a software-as-a-service (SAAS) solution. Users can upload files to their Vault, create folders, and organise their data. To keep data organised, there are specific sections for different types of data such as passwords, credit cards, files etc. within the Vault. When data is added to ECOMI Vault, each file gets a verified, timestamped record of all activity that takes place within said file. This include times when the file was added, viewed, updated, accessed, shared and more. ECOMI App– At the heart of the ECOMI ecosystem there is the ECOMI app. Through this app users will be able to access all ECOMI services and features from one central location. ECOMI apps will be developed by ORBIS Blockchain Technologies Ltd. During this initial development period ORBIS will create guidelines for development within the ECOMI Ecosystem. Soon after, the ECOMI Ecosystem will be open as a platform for any developer who wishes to either build an app the community has voted for, or create an app of their own. Users can access the products and services within the ECOMI ecosystem by using the ECOMI desktop and mobile apps, as well as browser extensions for certain features. Product Readiness ECOMI aims to offer five different products, all bringing value to users through different ways. The company has finalized one of the products so far (The Secure Wallet). The other four are still in development and are planned to be finalized in the following time periods: Ecomi One: Release in Q2 2019 Ecomi App: V1 release in Q3 2018 Ecomi Collect: Public release in Q1 2019 Ecomi Vault: Public release in Q2 2019 Sometime in 2018, before the set due dates, the test versions of the products will be released. Competitive Advantage What stands out is ECOMI’s fairly wide scope. In regard to the four products that the company plans to develop, it has to be said that each has competitors. They might lose to those more focused competitors who are putting all their resources towards solving one problem. ECOMI does have a unique solution with the Secure Wallet, and that product is finished and ready to be purchased. What makes it better than competitors like Ledger Nano S is that they never connect to the internet directly. It remains to be seen if the benefits are significant enough to move people to this solution rather than the hardware wallets. Furthermore, ECOMI One and ECOMI Vault are both unique in their ways compared to the current competition. In regard to Ecomi Collect, it is the only cyrpto-collectible app with licensed brands, such as Tokidoki. However, both of these projects are not yet fully developed, hence we will need to wait and see whether their features will still be unique at the time of their release. Size of Potential Market ECOMI is aiming to target a mass market with their products, as they are covering all of the following spaces: -Decentralized application marketplace -Exchange (providing liquidity) -Protection and storage of personal data, including basic identification, usernames, passwords, credit card information, passports, licenses and more -Recording, protecting and sharing of intellectual property -A broad variety of P2P asset exchange platforms including cryptocurrencies, messaging platforms, social media, encrypted file and data storage -The team’s aim is to build a global ecosystem, however for the time being it seems that their main focus is on the American and Asian markets. These two markets are promising in regard to in-game collectibles and also have the largest amount of cryptocurrency users and owners. Competition The Secure Wallet has strong competitors in Trezor, Nano, and KeepKey. ECOMI’s wallet does have several features that set it apart from the competition such as allowing the user to access the wallet without an Internet connection, but it comes with a substantially higher price than all three competitors. ECOMI One in our opinion is the product that stands out most, considering it has NFC Technology incorporated, and a debit + credit + loyalty point card. In our opinion this will be very attractive for many, because it’s basically a three-in-one card which can be used in the real world. Monaco and Advcash can be considered the closest competitors to ECOMI One. Lastly, ECOMI Collect and ECOMI Vault both have competitors, such as PokemonGo, CryptoKitties, Steam VR, and Google Drive, Dropbox respectively. ECOMI Vault will contain many more features than the current competition, as can be seen below, therefore it might gain a hefty customer base if development will be quick. On the flip side, intellectual property and document protection is already being tackled by several blockchain-based startups. https://preview.redd.it/c89g7bursk511.png?width=891&format=png&auto=webp&s=fdc40fffcfc4bf0a8363dc1d9e55613770ffe45f Innovation & Intellectual Property ECOMI’s parent company, ORBIS, owns a shareholding stake in the manufacturing production facility, for the Secure Wallet and the ECOMI One. This production facility has high-level technical manufacturing production and owns 19 patents related to hardware wallets and debit technology. Update on 8 May, 2018: One of the team’s main focuses will be acquiring licensed and recognized collectibles for ECOMI Collect. The nature of licensed collectibles will bring some unique marketing collaborations, and should drive people from outside of crypto into ECOMI. So far the team has secured the license for tokidoki, and mentioned that more announcements are to be coming soon. This is a key point of difference in comparison to competitors, as collectible offering- and second hand market- will be recognizable characters and pieces, as opposed to tickets, coupons and shopping rewards. Use of Blockchain = 73\% Blockchain Advantage The use of Blockchain allows ECOMI to bring customers a much safer debit, credit, and cryptocurrency cold wallet. All five ECOMI products focus on lowering the entry barrier for cryptocurrency non-natives and offer better solutions to already existent products and services. Need for Custom Token The native token’s main usage is staking. It allows users to have access to advanced features offered by the products and unlocks features which would not be accessible without having an active stake. Access to products and services within the ECOMI ecosystem will incentivise token holders to support the network by staking OMI Tokens, rather than spending them. This is a perfect example of aiming to tokenize an economy. ECOMI’s ecosystem could run almost the same by using fiat, however, by tokenizing the network, transactions become faster, users are “hooked” to the platform quicker and in-game spending becomes easier. Decentralization team will offer an exchange function built into the ECOMI One Card/App, so that you can exchange the currencies you own. In the initial phase it will operate similarly to Shapeshift and be tailored to the specific needs of our community. It is unclear whether the exchange is decentralized or not. The rest of the products are, we believe, decentralized enough, so that power is not monopolized within the network. Storage and Mining Do not include in rating ECOMI mentions that they are currently in talks with several data storage solutions such as Sia Coin. These solutions will be used for large-file storage hosted through the ECOMI Vault. Contribution for the Blockchain Economy ECOMI has competition from all angles, however, the offerings they are working on should be better than what’s currently available on the market. We are particularly excited about the Secure Wallet and the ECOMI One. We believe that an improved hardware wallet and an all-in-one debit/credit card can attract a large customer base and allow ECOMI to build a sizeable revenue stream, especially since alternatives to the current hardware wallets are needed due to unmet demand and security flaws. ECOMI has the potential to bring great contribution to the blockchain economy simply by offering your average Joe an easy way to enter the space, either through the use of a secure debit card, the ECOMI Collect game, or the ECOMI Vault with its stellar security propositions. ECOMI Collect’s advantage is the licensed brands that the company have onboard. In addition, these famous licensed brands, will expose blockchain / crypto to many people outside this space from the $621 billion collectibles market. Development Roadmap https://preview.redd.it/o3zq43ossk511.png?width=891&format=png&auto=webp&s=e2c851f8ee6a1466388e7c06e2773b482e06cfc3 Concreteness The development plan presented is very clear, and there are many milestones that the team aims to achieve within the upcoming two years. Each quarter brings either a product launch or a new updated version of the already existing product(s). We believe that the roadmap is slightly ambitious for the team’s current size, and that there might be delays in releases, especially in the ECOMI One wholesale distribution. Hopefully, the team can prove us wrong in the long-term and stick to the presented deadlines. Vision ECOMI’s roadmap runs until the end of 2019 and has several releases / milestones planned for each quarter. We believe this is important from the product development and the investor’s viewpoints. Frequent milestones put pressure on the team and should act as motivation in the long-run. If all of the planned milestones will be achieved in time, ECOMI will gain great traction and profit from positive exposure in news and cryptocurrency outlets. Current Position The Secure Wallet was planned to be developed by the end of Q1 2018. The wallet is complete, and the team is currently working on some updates of the app which will be released before the crowdsale. It is mentioned that the team also has plans for scaling contributions considering they build on Ethereum. So far they have achieved a sufficient amount of planned milestones and are well on track. Recent Developments In recent weeks, ECOMI has had a number of successes thanks to strategic partnerships and investments, as well as the business acumen provided by CEO David Yu. These include an acquisition of a larger stake of the hardward manufacturing facility, favorable price negotiations for licenses on ECOMI Collect, and an ORBIS series A round of investment. These developments bode very well for ECOMI and current and future investors as the leadership team has decided to reassess the token sale hard-cap and cut the token in price in half while simultaneously issuing twice as many tokens to current holders.
Best of the best Q&A Stephens and Shingos. Universall Wallet, Fiat Gateway, BQX Token, Security, Predictions, Supply
Shingo, [28.10.17 20:27] We have our ideas about how we think businesses could use blockchain, but as we all know, we have seen people come up for use cases of blockchain in areas and industries that we could never have imagined. What is important for us is to make sure that we build our platform as generically as possible since we really do want to build up an ecosystem on top of these open protocols. This is much akin to what RedHat does (which is package up and support the open source Linux software). Another way to look at it is where we sit on the tech stack for blockchain. For those of you who are familiar with the OSI model, we sit in the blockchain equivalent of layer 5 or 6. Ethereum is an incredibly powerful layer 4 tool that facilitates an ecosystem that we are trying to build. People who built on top of Bedrock would be layer 7. Our consumer facing products would also sit at layer 7. I think a lot of people are taking the wrong approach to blockchain with regard to businesses/enterprise. To my knowledge - I haven't seen anything that a private blockchain does better than a well organized database and data schema - and I don't think blockchains were ever designed to be data storage mechanisms since there are no inherent advantages that the structure gives. What blockchain does afford is the infrastructure to rethink public structures and to distrupt current trust models. In other words - two participants in the NASDAQ markets can't trust each other the same way that two employees at Microsoft can. What we are trying to do is package up open protocols for real business use cases. Instead of building Ethereum clones on Azure, build a financial structure on Ethereum Mainnet Shingo, [16.11.17 17:19] [In reply to Josh: I’m wondering how much BQX would I need to spend to use the platform? Is it gonna be a subscription thing or pay per use?] We are making a rate card - it really depends on what features you want. We want to make it free and painless to a newbie user. A lot of the tokens will likely be consumed in our Enterprise services and API services since we want to be charging more to companies than individual consumers. We will release more information once it is ready! stephen corliss, [26.10.17 23:20] [In reply to Long Ton: Will there be uses for the BQX token not previously mentioned? Tricks up the sleeve?] Interesting proposition though isn’t it?.... I’m not sure about all-purpose but it surely has many. During the early stages of any company, you can only analyze what you know and then adjust for future events using 2 or 3 risk variables. As we cannot reveal the entire picture just yet, what you should be sure to do is at a minimum analyze BQX based off of the Whitepaper. As long as you have this, as new information comes out all you will need to do is amend your model. Much easier this way. stephen corliss, [15.11.17 14:51] [In reply to Aamir: Sorry if this question has been asked before. As you were the COO for blackrock a few years ago, could there be a potential partnership in the future?] I would answer this broadly. Considering my long history with our traditional side brethren, I would say that it would be silly, if not irresponsible, of me not to leverage relationships and networks. So, because we are building a Multi-Sided Hybrid Financial Platform that solves real problems for BOTH consumers and businesses, both financial and many others, I would fully expect that we will leverage all of these relationships pre and post my time in global finserv to bring them into our eco-system. Shingo, [02.09.17 01:24] [In reply to Zev Rector: how do the baskets get made?] Wallets will be entirely user directed and owned. Universal wallet is like a keychain and one-click diversification is like automated shapeshift with order bulking stephen corliss, [22.08.17 23:54] [In reply to Andrew: stephen how does bqx manages the liquidity component? Is there an authorised participant in the picture similiar to a traditional etf? I also assume there will be fee savings from investing into various baskets? And will there be fees from switching the allocations of the underlying basket trades?] Hi Andrew, Our liquidity network solution acts as an aggregator to keep costs down, a bit similar to an AP for etf's but not the same. Switching Fees exist but again they are minimal because of how we dynamically manage liquidity. Andrew: also, who will manage the asset allocation on each of the baskets? And how is each basket priced? Users will through our UI which also provides rich information to help guide you. It is so slick & powerful but extremely intuitive. Pricing is realtime from api's.
stephen corliss, [14.11.17 04:24] [In reply to JiMMy Choo: Can i ask what a UW is stephen] Our UW is an intuitive, self-custodied universal wallet that allows users to safely store, manage, leverage and “further monetize” their crypto assets in one place while maintaining complete control of their private keys. stephen corliss, [13.10.17 13:09] [In reply to lilee: Any option for Bqx wallet user to further leverage their cold storage asset ?] Ah, I’ve been waiting for this question for a while. Maximizing the value of users assets is a major game changer. So, yes we will have some exciting things happening here. Keeping the details confidential for now so as to keep the copycats at bay... stephen corliss, [29.09.17 13:04] [In reply to Inigo: Bitquence wallet would be compatible with all criptocoins? Yes, some coins, like POS, will be added in later phases due to their complexities and may be offered as a premium service] stephen corliss, [19.09.17 15:29] [In reply to George: Maybe I don't fully understand the concept, but I think it's essentially going to be like a wallet where u can keep any currency and also exchange currencies?] The Universal Wallet delivers "Single point coin storage and security", which can be connected and disconnected to the Bitquence Platform when managing coins whether acquiring more, reshaping or liquidating. To enhance the self portfolio management features, users can acquire intelligence (Prediction, user performance, etc) from others on the platform enriched with custom market research data to better manage and diversify all with only a simple click. The UW will also enable payments to anyone/anywhere. This is only the tip of the iceberg as we have several additional unique and powerful features planned that will transform consumer self financial management in a way where we swing the pendulum of control and leverage back to consumers and away from dominant large conglomerates. stephen corliss, [08.10.17 19:52] [In reply to Donkey Emporium: Have you looked into integrating your wallet with the 0x protocol? - Yes everyone has myetherwallet but would be cutting edge if you could integrate somehow with your universal wallet] This is such an important point so I hope I can be really clear. As we believe price-discovery is the difference maker when acquiring or liquidating anything of value, model optimization isn’t by yourself trying to deliver another exchange but rather by connecting to as many providers of liquidity as possible. So, with this in mind, our business development and strategic partner initiatives will include all essential sources of liquidity both new and established players. Donkey Emporium: Ok, so most likely you'll be acting as a gateway to those exchanges (paradex, melonport, ethfinex etc) - sticking to your core USP even with your liquidity layer.] It is much more dynamic than just that but at one level yes. Again, this is a new model so let me keep some things under wraps but if there is one thing I’ve seen quite a bit of over my years is trading systems, alternative trading systems, exchanges, RFQ platforms, crossing, dark pools and many more, and the best execution venues are never ones that are based off a single premise but rather those that are the most flexible and dynamic. stephen corliss, [18.10.17 15:41] [In reply to Tamer Khalayleh: BQXStephen there may be answers to this which ive missed but ill ask anyway as it can benefit others also;
Are user interactions possible? Send message to user or chat?
Is it possible to store what ive invested into a portfolio to see how it develops over time (like blockfolio)? If yes, will you have access to look into other ppls portfolio? Say user has enabled setting letting other users see my port (user should have 1k bqx to be able for this feuture)
Are correct predictions rewarded? Say reward x if over 90 % right, x if > 80 % right
Any "wall of fame" for top 10 users with most correct predictions?
Ability to follow a users activity? User x has invested in this/that or any of this kind?] Awesome questions. I’m hesitant to answer as I usually do because I think it is time to protect our competitive advantages. Competitors love our forum because of our transparency but we know their prying 👀 are there. Let me think about how best to answer as these are all important questions. Give me a minute.
Okay, my top secret evasive answers to all your 5 questions are, YES, YES, YES, YES, YES, Or said my way, Damn straight! Our plans to continuously build out Release 1 (Amber) are powerful. No messing about here. stephen corliss, [23.10.17 00:09] [In reply to Harshad Thakar: What is your plan for security auditing of all the cool ecosystem n features implementation Shingo and eng team have been and will be working on?] I will defer the more intelligent answer to @Shingolavine but I would remind everyone the we are an upper layer in the stack that is a connector of sorts, looking and working across multiple chains. This means that we will have on and off chain activities and processes that involve both crypto specific and non-specific technology. We will employ highly detailed auditing of all essential components especially those involving smart contracts. As our structure will involve numerous highly scrutinized businesses / industries I can assure everyone that this platform will be put under a microscope for many reasons. Shingo: Smart contracts we have done security audits. APIs are mostly unit testing and making sure they do what they are supposed to do. Front end mostly selenium. Pretty standard stuff. Testing/Security is all about following best practices and being paranoid stephen corliss, [23.10.17 04:12] [In reply to Emmanuel Bergeron: hello i have question, suppose i am holding omisego tokens and i am getting a dividend from holding the token , if i were to use the bitquence wallet to keep my OMG coins, will i still get my dividend ?] Yes. However, as the complexity associated with solving for certain POS coins is variable, certain coins “may” be made available and considered premium, thus requiring users to pay a premium based fee to add complex coin structures to their UW. (example - POS coins who restrict users to using a coins unique wallet.) stephen corliss, [15.11.17 00:33] [In reply to Sean Considine: Will the Universal Wallet support ALL coins (all 1200+) or just the top 100 as shown on the Predictions page?] If you didn’t get a straight answer that is not good. So, at launch, it will be a subset of the total and will grow as we grow where the top 100 are good candidates for launch. As we grow, expanding the pool quickly will be essential as the UW must strive to support all assets as quickly as possible, even those more trickier ones like POS coins. stephen corliss, [16.11.17 13:09] [In reply to Josh: I’m wondering how much BQX would I need to spend to use the platform? Is it gonna be a subscription thing or pay per use?] Its will be pay per use. We will have other premium options payable in one time fees or subscriptions depending on the product or service but entry is made quite simple.
stephen corliss, [10.10.17 19:04] [In reply to momo: Will the application support crypto to fiat , if so how it will work and what type of methods (bank transfer, credit card withdrawal,etc )?] Our fiat model will be dynamic and multi-faceted to ensure simplicity for the consumer. The total # of options and flexibility will grow as we move along our roadmap and across national boundaries. We are keeping this close to the vest at the moment as our strategy and model is powerful and will allow us to maintain a significant competitive advantage. stephen corliss, [20.10.17 14:24] [In reply to Sookee Yong: "Fiat integration " this is what will make bqx sky is the limit] Yes!! but there is such thing as a bad, better and best fiat strategy so the trick is to find the one that delivers the most flexibility and simplicity...! This is where one can deliver product differentiation if they get it right and don’t rush out a bad solution. stephen corliss, [02.10.17 13:06] [In reply to Zh: It seems like fiat integration is almost a certainty and just a short matter of time before it is indeed integrated. Am I right to say this?] The solution is the heavy load so we have that in hand. So, yes we can now choose when to add it rather than be forced add it at a much later date because we didn't hv the solution. Its all about dev now so that is much easier to deal with. Zh: Sorry, what do you mean by the solution is heavy load?] Stephen: Solving for FIAT is significant both on the dev side and the legal side. The legal side is the furthest thing from easy or short so we tackled that side first. Its basically done. stephen corliss, [21.09.17 15:17] [In reply to Suppoman: Incredible! So re hardware wallet, you anticipate BQX support using another, or bringing out a Bitquence hardware wallet that competes with Ledger?] We haven't quite decided that one yet as we do enjoy the Ledger Nano S. We are also contemplating a Card 💳 for the UW as well! stephen corliss, [08.10.17 19:09] [In reply to Greg: For me it's also quite long with fiat integration but Universal wallet will be soon next year so it's big advantage. Fiat i think is for a reason so late and i'd rather to be surprised if it will be sooner then later] Remember, I revealed this before. The most challenging part of fiat is finding and securing the model necessary to do this legally. We have this in hand and, in fact, it is the most viable universal solution possible. Don’t know anyone else out there who can say this. Now, solving for this allows us to focus on design and structure and deliver the functionality earlier than originally planned by at least 18 months. With our fiat solution now in hand, we can deliver fiat functionality basically anytime along our roadmap. Timing Precision is key here for numerous reasons so the great thing is having the flexibility to move it forward if necessary, which is what we now have. stephen corliss, [15.10.17 22:13] [In reply to Johnson Berce: Can someone explain to me this issue I am thinking about . These debit cards. If in my bank I have 1$ I have $1 to use in my bank account . With a crypto debit card if bitquence is $1 and I go to McDonald’s and the price drops to .60 cents . This is my problem how can this be resolved] When we design the model for the longterm there are some things we can do but as folks have said, if you are holding anything but the currency needed and accepted by the receiving party, price conversion is inevitable. marking-to-market. I don’t want to say too much publicly ( 👀) but hedging and other basket strategies that involve uncorrelated assets can limit price volatility. stephen corliss, [23.10.17 00:57] [In reply to Tertius De Bruin: Will u guys be implementing an instant buy funcition and if yes how will the feed be in comparison to using exchanges?] Fantastic Question!! I hate the current model employed by most of those in the industry. I don’t see any way to validate the premium one has to pay just for the sake of simplicity. Every fee paid, every basis point spread between the best bid/offer that a consumer pays means less in your pocket. We will not treat customers this way and we will always be 100% transparent UPFRONT. stephen corliss, [23.10.17 15:10] [In reply to Tamer Khalayleh: You're planning for your fiat integration as we all know - do you have any plans to include more than USD, EU currency?] As you know, the answer to this is entirely dependent on the chosen strategy. If one chooses a payment gateway provider, for instance, the breadth of coverage is entirely driven by a partners market coverage. Personally, I believe in this space, where customer residency is so widespread, any solution that overlooks this fact pattern is a big mistake. So, our intention is to not make this mistake. We have yet to complete the full analysis but our desired outcome is clear and we will do whatever is necessary to ensure the best results for our users. The model we are leveraging is quite powerful as I believe it opens up all avenues so this does afford us some creative license in our final design. stephen corliss, [29.10.17 22:55] [In reply to Les: Will I be able to have direct deposit from my employeer to Bqx wallet?] Ha! Another question I’ve been waiting on so thank you for asking. If you begin to piece together our big vision (and we know we haven’t revealed everything yet) I believe you should begin to see a theme. So, I’m going to answer this very honestly, YES we see this as a very viable option as we validate our model and secure the confidence that is necessary for big business to embrace.
stephen corliss, [28.10.17 22:34] [In reply to Ezz: Can i know what will be the use of BQX token itself] The token will power all of the transactional activity that will be made possible by the Bitquence Platform including fiat integration, basket creation, unique data and research generation, risk mitigation, fund creation , distribution and management, and so much more. Ezz: How will power all of this I mean from where it will gain value Stephen: Each one of he mentioned services, and a lot of others to be revealed soon, will require BQX. Thus all stakeholders in the eco-system will have to acquire, hold and use the BQX utility token in order to benefit from a wide array of dynamic products and services. Shingo, [14.10.17 06:39] [In reply to ChunLin Wu: If the platform need BQX to access, how to attract lots of investors to use the platform if the token price is high?] Fees can be dynamically adjusted based on demand for services and token price. If this is our biggest problem, I'm sure we will have the money to solve it :) Stephen: We can manage any price variables dynamically to ensure BQX fees are commensurate with the product and service to keep entry open to everyone. stephen corliss, [14.09.17 11:40] BQX are essential for users to access services on the Platform to pay transactional gas related to Basket Creation and the Universal Wallet. Although not necessary, users can also seed their baskets with BQX, hold BQX in a Basket and also in their Wallet. At some later stage, we may offer customized baskets that we manage for customers but that typically involves a specific financial license that we don't wang to entertain as of yet. Stability is not necessarily essential for "gas" as if the value of a token becomes too high or too low there are steps we can take to self adjust to ensure customers can afford to pay gas, like managing token inventory. stephen corliss, [19.09.17 15:20] [In reply to George: Will people be able to use the nutrients platform without actually purchasing bqx coins??] Only certain features are accessible without BQX. At present they are the social and prediction features. The basket and universal wallet features will require BQX to access. stephen corliss, [20.09.17 16:20] [In reply to JiveTalkinRobot: Many in here expect BQX to "moon" in the secondary market, isn't that counter productive?] Our objectives are to ensure the token price represents the value of the service. If its too high, we risk pricing out customers. If its too low, we potentially operate at a loss or have to increase fees, which may also upset customer dynamics. This is something we must manage carefully so we will use all the tools in our toolbox to ensure a proper balance. Shingo, [20.09.17 20:47] Also for questions about what BQX does - it is a functional token with a variety of uses on the platform. Most notably, we have been talking a lot about having it be an API access token as well allowing people to build applications on top of the Bitquence ecosystem. This could potentially be very powerful in the same way that Stripe created a standard API to create payment networks. stephen corliss, [23.10.17 22:14] Another way of saying this is those acquiring tokens need to understand all of the functional use cases for any coin. When deriving value for anything, one must understand all of its inputs and outputs. To keep this simple, Inputs are fees / revenues and Outputs are Costs. Why Outputs? Well, if we want to forecast price / fee levels one will need to understand where break even is before moving on to volumes, customer growth, inflation, etc etc. This is somewhat of a typical fundamental analysis. I think we agree just say it slightly differently. There are other variables in this space but I think this captures the gist.
stephen corliss, [28.10.17 22:58] [In reply to Nico: actually i just want to know if the process of evaluation of the predictions, will be completly done by humans or partly by humans and automated?] Predictions itself will initially involve human interaction. Once the unique data is created it will then be enriched with other data including social and a broad array of conventional and unconventional data. So, it is a bit of both. Harshad Thakar: So the way I understand it is as follows [a] Combination of predictions + Intelligence Hub & UW build foundation for an extremely powerful platform that wll be used to addresse the obstacles around mass adoption. [b] moreover the intelligence hub (with various types of data) can be monetized by Bitquence by offering various service models for the partners/builders and they will need to use BQX token as gas; resulting in demand for the tokens n hence the increase in its value over long-term. Stephen: Yes, with the many numerous other products and services that we are keeping under lock and seal to protect our first mover advantage. Each one of these will significantly increase demand for BQX as it will also be needed for gas, access, etc stephen corliss, [08.10.17 22:24] [In reply to Donkey Emporium: With your predictions would you essentially be able to buy futures contracts on cryptocurrencies? - like via the CME?] Not initially as this would clearly trigger derivative registrations across all major markets, which is not ideal at this stage both from a capital consumption and strategic plan perspective. However, because of the legal model we will build everything on we can hook into other CFD providers quite easily and still comply with rules across multiple juridictions stephen corliss, [09.10.17 14:16] [In reply to Greg: Number of predictions will be limited somehow? Otherwise if there is no risk to bet, people can make many predictions and just hope for lucky shot. Or there will be some points and reward only for top points user?] Only one prediction per user per coin per contest
stephen corliss, [03.11.17 15:17] As you know, BQX has a Total Supply of 222,295,208. Of This Total Supply, 40% was reserved “exclusively” for the liquidity pool, which means 88,918,083 BQX will never become part of the Circulating Supply. The Liquidity Pool should be thought of as simply a source of collateral, not to be bought or sold in the marketplace. This leaves a MAX Circulating Supply of 133,377,125 where 71,883,993 are currently in the marketplace. The remaining 61,493,132 tokens are for Operating Purposes and will be added “only gradually” to circulating supply as/when the company uses them for technology, operational, and other related costs on a monthly or reoccurring basis. I hope this helps. stephen corliss, [03.10.17 13:06] [In reply to Max: Where do these coins come from ? If the supply is limited and people can't lose coins with bad predictions, won't you run out of coins and be unable to pay rewards at some point ?] BQX is used by users to pay transaction fees so this is important to not overlook. Second, in the immediate phase, additional BQX pools were created from mining during the token sale, which we can draw from for these marketing related costs. Thus, we will not run out of tokens as there will be fees coming in. stephen corliss, [03.10.17 14:14] [In reply to Yoyo: So how would new bqx enter the market] The pools are something to not overlook as they are drawn from for various corporate expenditures including marketing and outsourced activities such as content and data generation as just one example. Other potential programs we will offer (think of them like you would POS but it is not a direct correlation) to reward users can involve common elements such as rewarding users who develop a "following" on the platform, rewarding users for inviting and bringing new validated users to the platform, creating investment strategies that are desired by other users, I will stop there as the rest are highly confidential at the moment... Don't want to tip our hands to all of our competitors but I assure you that these other programs are transformational and extremely powerful that benefit users in 2 ways, first with a powerful user experience and secondarily as additional ways to generate rewards.
Adding to another Exchanges
Shingo, [28.10.17 20:27] We have our ideas about how we think businesses could use blockchain, but as we all know, we have seen people come up for use cases of blockchain in areas and industries that we could never have imagined. What is important for us is to make sure that we build our platform as generically as possible since we really do want to build up an ecosystem on top of these open protocols. This is much akin to what RedHat does (which is package up and support the open source Linux software). Another way to look at it is where we sit on the tech stack for blockchain. For those of you who are familiar with the OSI model, we sit in the blockchain equivalent of layer 5 or 6. Ethereum is an incredibly powerful layer 4 tool that facilitates an ecosystem that we are trying to build. People who built on top of Bedrock would be layer 7. Our consumer facing products would also sit at layer 7. I think a lot of people are taking the wrong approach to blockchain with regard to businesses/enterprise. To my knowledge - I haven't seen anything that a private blockchain does better than a well organized database and data schema - and I don't think blockchains were ever designed to be data storage mechanisms since there are no inherent advantages that the structure gives. What blockchain does afford is the infrastructure to rethink public structures and to distrupt current trust models. In other words - two participants in the NASDAQ markets can't trust each other the same way that two employees at Microsoft can. What we are trying to do is package up open protocols for real business use cases. Instead of building Ethereum clones on Azure, build a financial structure on Ethereum Mainnet Listing on exchanges is part of our customer acquisition strategy. We want to get more people involved in Bitquence and excited for when we begin our product releases. As much as we can, we want to utilize the infrastructure of the crypto community to spread our message of mass adoption. We are looking long-term to make the vision a reality. Getting exposure on a major platform is always positive stephen corliss, [13.10.17 17:00] [In reply to CryptoHodl: Does Bitquence have any plans to get on Bittrex?] They are on the radar, of course. Bittrex is a different animal versus others as we have absolutely no bearing on the process or timing. It appears they have changed their token onboarding process (as they should have) and it seems they have also walled themselves off from all direct communications with potential tokens. Not sure if that is by design or not. They have everything they need from us for any “future” listing but it may just come down to user demand where the popularity of BQX warrants them to act sooner. Shingo, [23.10.17 05:04] The only reason we would want to get listed on more exchanges is if we were excluding customers due to the current set of exchanges or for the publicity
stephen corliss, [12.09.17 15:22] [In reply to Inigo] The security issue is first very important so the advice given by your peers is right. With regards to the correlation you are drawing, I would say the BQX users will hold their own keys and store them in their cold storage of choice. Nothing of yours moves onto the platform unless you are building a basket then it is temporary. Once the transaction is done, everything moves off the platform and back to your cold storage. Nothing is ever left on the Platform. Whereas with Exchanges you have to decide to move it off or not. Shingo, [15.09.17 23:11] [In reply to Ke: Is it correct to assume that in 1 year or 2, if bitquence delivers the ultimate universal wallet as we believe then there would be no need for nano S or Trezor or at least the price of these items will be severely reduced because of lesser demand? Stephen especially if it's cold storage right?] The way that our "cold storage" works is sort of like a "nano ledger in the sky". Again sort of. The private key never hits the internet just like a normal hardware wallets, but you have to trust the transaction signing mechanism. If this sounds dangerous, this is exactly the same level of trust that you have with a nano ledger. You trust that the nano ledger is signing the transactions in a trustworthy way in the same way you will be trusting that Bitquence will sign the transactions in a trustworthy way. Your private keys will always be under your control. Bitquence will hold only encrypted keys for your convenience (hence the "managed universal wallet"), but you will hold the only unencrypted copy. That means if you close down your account or just decide to leave Bitquence, you can still go use the same keys somewhere else and your funds will be secure. Hope this is helpful stephen corliss, [03.10.17 12:42] [In reply to Jochen: Stephen, how safe can the storage of coins be of Bitquence in comparison with a hardware wallet like Ledger Nano S? Pro's and contra's] I don't want to reveal too many details yet so as to protect our intellectual property and solution but we see it as at least compatible if not improved as we are also trying to tackle the issue with lost keys equal lost assets for consumers. For mass adoption to be achievable, this problem has to be fixed. stephen corliss, [14.10.17 15:40] We see cold-storage as a game changer for consumers as it gives you the ability to maximize your influence over others who may want to use your idle tokens. This means we can deliver new products and services that allow you to generate additional yield (returns) on your assets other than price gains or interest paid by your POS coins. Think of similar traditional products such as those involving securitized and structured products. Shingo, [23.10.17 19:30] [In reply to Daniel Power: Is Bitquence going to be open source when it releases?] Some pieces will be. Some others will not. We want to preserve competitive advantage as much as we can Shingo, [29.10.17 22:34] [In reply to Aleksander Lien: about your wallet and cold storage! Are They safe as normal bank account!? Like if i store all my values in There , and as long as i dont throw my key/passwords around , The storage can not be hacked, at all?] I would say safer than a bank account since you own it. The private keys are always under your control and we actually don't even store your private keys. What do provide, however, is encrypted version of your private keys so that you can easily access them whenever you want. Important to note that these encrypted private keys are completely useless to us and only useable by the user. stephen corliss, [06.11.17 04:26] [In reply to lilee: How Bitquence ensure the platform users is protected from financial risk management point of view ? As some user will be common people less savy in financial investment,we don't want situation like ICOs where there is a lot of scams.] Every company, project or developer must have a reputation, be fully kyc’d and staked by purchasing BQX which will be utilized as gas. Anything presented on the platform by these groups that involve consumer facing products and services, will have to also meet an extensive compliance review as well. stephen corliss, [11.11.17 20:49] [In reply to Burghardt: Lets asume I am using Bitquence and bought Stratis, Bitcoin and some Ethereumtokens. The USGoverment shuts down BQX from one second to another. The website is gone. Am I able to get my coins? Second scenario .. lets asume hackers are hacking Bitquence. They have all your data, which is online. Are my coins save?] Thanks for the question. First, your coins will be hidden away under your mattress (cold-storage) so in your example, our site being shutdown will not impact your assets. Second, the same is true with hackers, as we don’t have your assets like exchanges do so there is nothing to steal. Clearly 2fa and encryption is key from the users perspective so we are also helping here to ensure the assets under your bed are as safe as possible.
Shingo, [16.09.17 03:17] Regarding taxes, we already have plans to allow you to export transaction history in csv so that you can do your taxes. Agree with Dean that it would be impossible to calculate each individual's tax without sophisticated software but we can give the tools to make it easier Shingo, [16.11.17 18:00] [In reply to Bodhisattwa: since bqx plans to be a one stop shop for an individual. When in the future regulation comes in with respect to taxation of crytpo will the platform have paid features where an individual can get personalized information on his tax liability on the basis of assets and investments made on the platform. Maybe it can start with countries with largest user base first and then other countries... If that is done I feel bqx will definitely will be the place people go for crypto investments. Your thoughts would be appreciated ..:)] Yes! Although I anticipate it will be something more like an API connection into another crypto tax calculator (of which there are many), but we will allow exporting transactions to help calculate tax liability *Stephen: * Yes! Think of tax-loss harvesting and all of the strategic ways consumers can manage tax liabilities. This will be part of the design!
BQX Token Price
Shingo, [03.11.17 19:19] Guys. We are not interested in simplying pumping the price with news. We are about more than that. We are about building a movement that can change the way the financial system operates. News will come when we are ready to release it and we are hard at work building something awesome. I'm not going to talk about anything we aren't ready to reveal. stephen corliss, [28.10.17 15:18] In my view, prices are driven by demand that stems from existing and potential use-cases, which is also clearly exaggerated by speculative demand. This also applies to BQX. What are the use-cases for BQX and thus, what will be demand? As you know, I believe we sit higher in the stack where we look across a multi-chain universe that will only grow in number. This is important as I believe diverse options will continue to grow, which will increase complexity exponentially only making mass adoption all the more difficult, if not impossible. As such, we need a communication layer of sorts that can interpret and interact with all of the diverse options to ensure the value of each can be recognized. In the financial space, the ability to interpret all of this complexity is absolutely essential as all of this new functionality and value is also represented by coins. So, okay, sure an interpretive layer seems necessary. But what the heck does this mean? This means solutions are necessary for all stakeholders (existing and future) in this space in order to extract all of this potential. We will extract all of this potential by developing an eco-system that removes complexities and creates an environment that allows stakeholders to participate in this new economy across a dynamic platform with simplicity and ease. Okay, how will this create demand for BQX? First, because BQX is what represents the interpretation of all of the underlying events. If i want a coin or cryptoccy, all I need is BQX as Bitquence will do all the rest. No need to go here, there or everywhere. Just one single place that simplifies the entry point and without sacrificing the benefits associated with each chain, coin or ccy. Okay, sounds okay. Now what? Well, now that we have simplified the entry, and exit, points we can now create new and dynamic products that all leverage the interpretation layer. By doing so, we solve problems for all stakeholders up, down and across the entire foodchain who are looking to interact with crypto consumers. Lets step back for a second and think about what is happening with traditional industries. If it is not obvious to everyone, I believe industries are moving towards models that will most likely embrace either Private or Semi-Private Consortium blockchain models. What does this mean for those big firms who can afford to do this? What does this mean for those firms who cannot? This means they will need to leverage other platforms that can remove complexities, simplify and open up access to a whole new world. What will power and be necessary to access all of these solutions to each of these diverse stakeholders? Which platform, what products or services? I think I know the answer to these questions. That is all I can say at the moment, actually maybe a bit too much really...
ABSTRACT The experience of buying and selling cryptocurrencies is as much of a barrier to the expansion of cryptocurrency trading as the relative novelty of the entire concept. While it is no doubt a more recognised and even well regarded market activity, with organisations such as the Chicago Board Options Exchange (CBOE) recently offering the world’s first official cryptocurrency futures contract, and several exchanges opening almost every other week, it is still very much a niche market position to engage in substantial buying and selling of cryptocurrencies. When compared with the market volumes for trading fiat or other stores of value like precious metals, the total cryptocurrency market capitalization of $471,511,748,724 is little more than pocket change. To put it in perspective, the total market capitalization of Bitcoin, which is by far the world’s most popular cryptocurrency is $166 billion, less than the $171 billion market cap of MasterCard, which is not even a fiat issuer. Clearly, despite the leaps and bounds that have been recorded in the growing success story of trading cryptocurrency on the open market, a substantial amount of work still remains to be done. Many reasons exist for the persistence of a gap in market adoption and participation, but perhaps one of the most ubiquitous and detrimental is the sheer difficulty of actually participating in the cryptocurrency market trading space. Due to a lack of regulation stemming from the decentralized nature of tokens, the market is crammed with a vast number of competing platforms and exchanges, all claiming to do certain things which many of them glaringly fail at. For example, the sheer amount of operational friction involved in carrying out a simple purchase transaction is enough to put off many first-time investors and market participants, especially those who do not understand the cryptocurrency ecosystem in detail and those who are used to the structure and order in a regular stock market. The speed of transactions on many platforms has often gained notoriety for creating severely dissatisfied users who had to wait for hours, days or even weeks for a single transaction to trundle its way through. In the midst of these delays, the dynamic market keeps changing. sometimes literally minute-by-minute, which severely compromises the investment position of the user and makes them unlikely to return as market participants again. Some users have even found out to their great personal cost, that while cryptocurrency tokens themselves cannot be hacked or duplicated, they can be stolen from digital wallets that do not have adequate security. So when executing cryptocurrency trades, it has been known to happen that the trading platforms or exchanges used suffered a severe security breach, sometimes with hundreds of millions of dollars’ worth of user cryptocurrency being stolen. Amidst the unique crypto trading environment of unmatched optimism mixed with real risks and horror stories, the challenge is to create a solution that offers all users quick, easy and secure access into the cryptocurrency marketplace with zero fuss and very low risk. This solution would need to cater to both veteran participants in the ecosystem and new entrants into the market, giving both an equal chance to compete. The security on this platform would substantially preclude the possibility of a devastating failure that would compromise user assets and disrupt the user experience. Taking all these problems, challenges and needs into consideration, SLT has been developed as a trading platform offering users the power to buy and sell digital tokens to each other. Making full ue of the security and data processing advantages offered by the Blockchain, SLT proposes to revolutionize the experience of market participation in cryptocurrency trading by making it easily accessible to all types, classes and grades of users, safe and free of potential security failure points, and with a wide scope of application and uses within the ecosystem. The team behind SLT has several years of online work experience, and what unites all of them is a shared experience of the same operational problems present in terms of investing in the cryptocurrency market. SLT is the result of years of thought and research into how to adequately solve the problems once and for all and even create extra value for market participants into the bargain. INTRODUCTION Before going further in the paper, there are a few terms and concepts that need to be properly defined before the reader can fully appreciate the ideas and solutions that will be proposed later on. The first of these terms is blockchain. A blockchain, according to the standard definition is a network that is decentralized and distributed across all its nodes so that the network cannot be compromised by any single node. In plain English, what that means is that a chain of little bits of data called ‘blocks’ being created, updated and stored across several different locations in real-time is called a ‘blockchain’. The major difference between blockchain networks and regular centralized networks is that unlike the latter, blockchains do not have a “server” or a “headquarters” where isolated information exists in a silo. Blockchains rather use the entire network of nodes as their storage and processing capacity, and each node has a copy of the blockchain which is constantly in communication with the others, verifying transactions and comparing information to make sure the data across all of them is exactly the same. If any single node has data that does not match with that on the rest of the blockchain network, it is immediately isolated as a compromised node and the network automatically excludes it and keeps on functioning. What this means to the uninitiated is that blockchains are very secure, possessing no single location that can be hacked or compromised in any way, and not permitting any variation in data across network nodes. Data stored on a blockchain is thus practically immutable and unchangeable, which make it ideal for recording sensitive data like transaction records and medical records. The second term to be examined is fiat currency. A fiat currency is basically the money most people are used to, which is in either cash or electronic form. The distinguishing features of every fiat currency are that they always have a central issuer – usually a government or a central banking institution – and their use and relative value is constantly managed by these issuers. Unlike blockchain-based solutions, they are all built on centralized rather than distributed infrastructure, which makes them a constant target for hackers and fraudsters. They also contain identifying information unlike digital tokens. A third term that needs to be explored is cryptocurrency. A cryptocurrency is a representation of a digital asset, and it is also sometimes referred to as a token or a coin. Cryptocurrencies contain no information that can be used to personally identify their users, and as such they have gained popularity around the world for a variety of reasons as ‘anonymous currency’. In places like Zimbabwe, Venezuela and Greece for example, in response to crippling capital controls imposed by the government which severely limited the amount of money allowed to be taken out of the country, a huge number of people turned to Bitcoin and other cryptocurrencies as an undetectable means of transferring their wealth abroad. A vast number of cryptocurrencies exist currently, ranging from the ubiquitous Bitcoin (BTC) and Ethereum (ETH) to a basket of currencies including Ripple (XRP), Litecoin (LTC), Dash (DASH), Monero (XMR), Lisk (LSK), TRON (TRX), ICON (ICX), Stratis (STRAT), Zcash (ZEC), Nano (XRB), Steem (STEEM), Bytecoin (BCN), and Populous (PPT), amongst others. For the purposes of this paper, the cryptocurrency that will be focused on is SLT, which is the native currency of the SLT platform. Another concept that needs to be defined is the smart contract. A smart contract is a method of exchanging value between two or more parties using the blockchain as a tool for validation and escrow. Using a smart contract, a seller and a buyer involved in a peer-to-peer transaction do not need to have a middleman interceding between them to ensure that the right exchange is made at the right time. Rather, a set of conditions, instructions and parameters is coded into the blockchain, and the buyer deposits their cryptocurrency into a safe wallet under the care of the smart contract protocol. Once the buyer confirms that they have received the requested value from the seller and it is acceptable to them, the smart contract automatically releases the payment to the seller. Doing business by smart contract is an idea that started off as a novelty and is rapidly taking off, as it removes the burden of validation from both parties involved in a transaction and saves them the cost of a human middleman or bank charges involved in actual escrow transactions. Most smart contracts nowadays are built on the Ethereum blockchain, which is especially optimised to aid peer-to-peer transactions. The final term that will be defined is cryptocurrency exchange. Also often referred to as “exchanges”, these are institutions that enable users to exchange cryptocurrencies for other cryptocurrencies and fiat currencies. In effect, they serve as intermediaries between cryptocurrency buyers and sellers, connecting demand with supply and enabling buyers to make their desired purchases using cryptos or fiats of their choice, according to which ones are supported by the individual exchange. In the world of buying and selling cryptocurrencies, exchanges are the engines of the industry, in a similar way to how banks are the drivers of offline economies. The level of speed and security offered by a cryptocurrency exchange is often the difference between a profitable transaction and an unqualified loss. In a market as dynamic as cryptocurrency trading, delays of even a few minutes can have dramatic results, as big hitters like Bitcoin have been known to lose as much as 50% of their value in just a few hours. In order for cryptocurrency trading to be able to go truly mainstream, it is imperative that an exchange solution will be created that enables users and investors to move seamlessly through the market and execute transactions instantaneously, as is obtainable in fiat currency markets. PROBLEM STATEMENT Presently, cryptocurrency trading is not suffering from a lack of interest, but there is a considerable infrastructural barrier to entry into the market. The available platforms generally cannot deal with the sheer volume of transactions and the required speed of processing transactions, causing many existing and potential investors to become frustrated and lose interest in the market. The three major problems facing the cryptocurrency buying and selling space can be itemized and broken down as follows: - Lack of speed: In the space of a few minutes, it is not unheard of for cryptocurrencies to gain as much as 30% on the market. As with any other type of dynamic market trading activity, the ability to predict and react to quick-fire changes is key to the profitability of the trading operation. When market participants are not able to get their purchase and selling orders processed in a manner that matches the dynamism of the marketplace they operate in, this usually results in losses and a resultant loss of appetite for involvement in that market space. - Security breaches: Trading platforms and cryptocurrency exchanges have been the targets of sustained and regular attacks from hackers, fraudsters and a number of other undesirable elements. In a few high profile cases, they have actually been successful, eventually making away with hundreds of millions of dollars’ worth of client cryptocurrency funds and leaving both platform and customer financially wrecked. A few customers who have managed to get past the buying and selling process with no incident have had the misfortune of using exchanges without adequate cybersecurity measures in place, and this has led to their cryptocurrency wallets being hacked, and millions of dollars’ worth of anonymous, untraceable coins being stolen. These stories also receive a substantial amount of media airplay, which feeds into an existing narrative of cryptocurrency being some sort of scam, and this further alienates potential investors and participants. - Transaction fees: Several platforms have delivered unpleasant surprises to their users in the form of excessive transaction fees. Perhaps as a result of the lack of volume resulting from their poor trading infrastructure and bad liquidity position, a number of cryptocurrency trading platforms try to make up for the revenue lost to poor transaction volumes by charging high transaction fees. In essence, the idea is that instead of fixing the problems leading to slow transactions and the resultant low transaction volumes, users would simply be charged more to make up for the revenue shortfall. This means that investors lose both ways, both to the low speed transaction execution and poor security offered by most existing cryptocurrency trading platforms, and high transaction fees for the few trades that do manage to go through. SLT FRAMEWORK Using these problems as an existential barometer, SLT has created a trading platform that is focused on the needs of its users before anyone else. The platform focuses on revolutionizing transaction speeds and achieving instantaneous execution by making use of blockchain processing instead of centralized processing. This solution will also exponentially improve upon the existing security profiles of competing platforms because it is practically impossible to hack a blockchain. Use of the SLT token will also eventually reduce transaction fee and speed up transactions using blockchain technology. Platform Goals The overall aim of SLT is to create a fast, simple, safe and clearly defined platform that everyone can understand without hidden intentions and costs. The platform also aims to emulate the very operational logic of the blockchain in its operations by catering to a decentralized market. Instead of appealing to only a fraction of the available global market, SLT will allow anyone to have access to the platform, and it ensure that equal chances are given to all members to earn. The final aim of SLT is to be able to deliver on the promise of instant payments and withdrawals using blockchain technology. Future Expansion Plans The launch of the SLT token is a part of a strategy that will be instituted to reduce transaction fees for users and eventually to speed up transactions. A key part of this strategy is the opening of the SLT cryptocurrency exchange. Combining these two solutions, it is the hope that users who currently face problems with opening different wallets and with withdrawing money they earn can find a quick and easy resolution to these issues. The platform will have a wallet exchanger and a digital asset exchanger in one place for the first time, giving users as much flexibility as they need to access and convert their money rapidly so as to be able to keep up with the dynamics and vagaries of the cryptocurrency trading market. Eventually, it is expected that users will even have the opportunity to make payments and withdraw money using the SLT Card, which will be integrated with major existing fiat providers to give maximum flexibility across crypto and fiat channels to SLT platform users. Pre ICO – 1 million 1st Round - 1 million 2nd Round - 3 million Price in Pre ICO= 0.10$ Price in 1.round =0.30$ Price in 2.round =0.50$ Action Plan Adding SLT on other exchanges Digital asset Exchanger ( multi-cryptocurrency exchange) Listing on CoinMarketCap Wallet exchanger Debit Card and adding other cards that will allow buying and withdrawals Mobile app available for iOS and Android Referral bonuses in ICO period: 5% 5% Bonus from each purchase made from your referral Roadmap December 2017 Completion of platform conceptualization and ideation processes, followed by the commencement of preliminary development, design and integration work. March 2018 Pre-ICO begins: At this stage, investors will be able to buy SLT tokens at a special price of $0.10, which gives them a first-mover advantage over later investors during the ICO. ICO commences: The ICO will hold in two stages, giving investors the opportunity to purchase SLT tokens at $0.30 and $0.50 respectively, following a price-rise caused by the pre-ICO demand. March 2018 ICO ends: Investors will no longer be able to purchase SLT tokens directly from the ICO platform, but the tokens may be available from third party platforms like cryptocurrency exchanges. 2018 (all-year) Development and integration of Digital asset Exchanger ( multi-cryptocurrency exchange) and Wallet exchanger, develop breakthrough blockchain technologies Launch of mobile app for iOS and Android 2019 The full SLT platform will be launched offering the complete range of proposed functionalities after a year of development and integration. Later that year, the SLT card will also be launched, giving users extra flexibility across various fiat and cryptocurrency exchange mediums. CONCLUSION SLT is the long-awaited platform that will permanently change how casual users and seasoned investment veterans interact with the cryptocurrency trading market. The important ways in which SLT will revolutionize the cryptocurrency trading space are as follows: The platform will severely cut down on time lost due to transaction delays and slow execution Making use of the multifunctionality of a wallet exchanger and a digital asset exchanger in the same place, the SLT platform will exponentially increase the speed with which users may access their funds and convert them into the desired format of their choice SLT will make use of blockchain technology to substantially increase the speed of transaction processing. Currently, many competing platforms make use of silo processing, which is heavily limited by available physical infrastructure. SLT embraces the blockchain at an elemental level, applying the principle of group processing to free up what has hitherto been an operational bottleneck. The use of blockchain technology as the basis of the platform will increase its security profile and make it an exceptionally difficult target for hackers, thieves and fraudsters. The SLT token will provide an quick and easy platform for cryptocurrency trading for users who do not want to deal with the delays involved in opening and accessing different wallets. Users of SLT tokens will experience substantially reduced transaction fees in addition to enhanced transaction speed Eventually, the launch of the SLT Card will take the concept beyond the point that the entire industry is at right now. This card will be used both as a means of paying in and withdrawing money from the platform, and its activation with a major real-world fiat provider will give users a totally unprecedented level of inter-connectedness between cryptocurrency coins and fiat. DISCLAIMERS The SLT service and the SLT platform are provided strictly on an “as available” and "as is" basis. No assurances or representations of any type, direct or otherwise, are made regarding the operation of the service or the content, information, materials, or products displayed on the website. No express or implied representations or warranties regarding the SLT service and website, or the products or services provided therein are made. Therefore, any implied warranties of SLT merchantability, fitness for a particular purpose, and non-infringement are expressly disclaimed and excluded. In addition, we make no representation that the operation of our service will be uninterrupted or error free, and we will not be liable for the consequences of any interruptions or errors be they direct, secondary, related, penal, or consequential. SLT, its officers, representatives, employees, managers, and salespersons, shall not in any way hold any liability for any loss/damages (direct or indirect) rising out of or in connection with your use of or your inability to use the SLT service and website, even if we have been duly advised of the possibility of such damages. SLT is not an investment. There is no guarantee that the SLT you purchase will increase in value and/or provide any return. SLT does not confer exclusive ownership or arbitrary right to control. Possession of SLT tokens does not grant the holder exclusive ownership or sole equity in the SLT platform as a whole. No one individual has exclusive rights or power over the SLT platform. The purchaser’s SLT can only be accessed with login credentials selected by the purchaser. The loss of these credentials will result in the loss of SLT. To prevent such a situation, it is strongly recommended that the holder should safely store credentials in one or more backup locations that are geographically separated from the working location, and are accessible in the event of an emergency. As they grow in popularity and application, Blockchain technologies have also become subject to regulatory attention and action by government and financial industry organisations around the world. The functioning of the SLT platform and SLT tokens could thus be impacted by any regulatory inquiries or actions, including but not limited to restrictions on the use or possession of digital tokens like SLT, which could impede or limit the development of the SLT platform. Following the token sale and the development of the initial version of the SLT platform, it is possible that blockchain-based platforms could be established, which operate using same open source code and open source protocol underlying the SLT platform. The SLT platform may have to compete with these alternative platforms, which could potentially negatively impact the performance of the SLT platform and SLT. It is possible that the SLT platform will not be used by large numbers of individuals, and that there will be limited public interest in the creation and development of distributed applications. Such a lack of interest could impact the development of the SLT platform and therefore the potential uses or value of SLT. The SLT platform is presently under development and may undergo significant changes before its full release. Any expectations regarding the form and functionality of SLT or the SLT platform held by the purchaser may not be met upon release, for any number of reasons including a change in the design and implementation plans and execution of the SLT platform. Hackers or other groups or organizations may attempt to interfere with the SLT platform or the availability of SLT in any number of ways, including without limitation denial of service attacks, Sybil attacks, spoofing, smurfing, malware attacks, or consensus-based attacks. The SLT platform consists of software that is based on open-source software. There is a risk that the SLT team, or other third parties may intentionally or unintentionally introduce weaknesses or bugs into the core infrastructural elements of the SLT platform, interfering with the use of or causing the loss of SLT and/or SLT. Advances in cryptography, or technical advances such as the development of quantum computers, could present risks to crypto currencies and the SLT platform, which could result in the theft or loss of SLT and/or SLT. While SLT should not be viewed as an investment, it may return value over time. That value may be limited if the SLT platform lacks use and adoption. If this becomes the case, there may be few or no profits to draw from, or even a loss of your initial investment. It is possible that the SLT platform malfunctions in an unfavorable way, including but not limited to one that results in the loss of information or data. Crypto-currency is a relatively new and untested technology. In addition to the risks set forth here, there are risks that the SLT team cannot anticipate. Risks may further materialize as unanticipated combinations or variations of the risks set forth here.
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