DateCoin Combines Professional Dating App with Crypto

Datecoin ICO

It’s official now – we’re entering the cupid’s den with crypto! No wonder then that our lonely sailor readers need some love, and we think they may be interested in combining their love for crypto with the love for women. So to them, we introduce a new crypto that will soon go the usual ICO route – DateCoin.

Introduction

DateCoin, as its name suggests, is a crypto token for a dating platform. The team already has a dating product in market, which lends it some much needed credibility in this space. The product, called Denim, is a dating app in Russia that promises the highest quality and real women for worthy men (so not your typical dating app!). However, what makes it different from a bunch of other dating and hookup apps in the market today is it is part of the so-called ‘programmatic dating’ market, which is a niche, but fast growing market.

The idea is to use some of the latest innovations and technologies in computer science – machine learning, AI, and big data based insights, and apply that to the dating market. The result is presumably better results that fit your profile and your needs in the dating market.

DateCoin project is implemented by professional team experienced in launching of profitable dating service, which makes it stand apart from many other competitors. DateCoin is the synergy of artificial intelligence and effective business modeling for pragmatic dating service as previously described, which also allows it to distinguish itself from the competition.

Product

We at Crypto Sailor filter some mess from the turbulent seas, but DateCoin is based on a fairly successful already existing product and app out in Russia. Granted they are not as international as some other such sites, but hey you gotta start somewhere. And it’s heck of a lot better to do this with an existing product than try to do something from scratch (I am looking at you Matchpool).

Here’s a screenshot of the girls from their website. You be the judge.

And here’s a slightly more magnified view of the people on the platform:

Now it is important to note that these are not fake profiles or bots of what not that other sites use. Since the whole pitch of the site is to connect wealthy men with beautiful women, their reputation is all they’ve got. In fact, the team claims that they use pretty advanced machine learning and AI to detect any fake profiles and bots and only provide the best quality results to the men using the platform. This is important because fake profiles can destroy trust in the platform.

In addition, what really surprised me positively is that they have been covered in major publications like Maxim Russia and Playboy Russia. That’s a pretty legitimate claim that not many projects can make. Heck, they’re even featured in the Cosmo!

They also have a phone app, which is the primary way people today communicate and look for that special one. Not that we care too much about a mobile app, but just goes to show that the team is serious about their business and is running a successful show already before the ICO even begins.

So that’s the product you’re looking at. A very legitimate team and product that already exists and serves the marketplace, but sees the need for a token to expand and better their services, which let’s admit, needs money. They’ve been featured in major news media outlets out of Russia, and they have plans to expand to other parts of the world, given their success in their home market of Russia.

But this isn’t the end of the line – the team has some very ambitious goals for growing the platform and network in the future. Today, they are at 500,000 users, but their goal is to go up to 19 million users in a time span of 4 years. They plan to do this via a variety of means, including geographic expansion into other markets.

Here’s a list of countries they are looking to expand into, for example:

About the DTC Token

Datecoin has its own native token on the Ethereum blockchain, called the DTC Token.

The DTC token is used as the platform currency in the backend, which means that the end user doesn’t even know that they are using the DateCoin tokens or DTC to pay for the app. However, behind the scenes, that transfer is taking place in converting regular fiat money into DTC tokens. This drives the use for the tokens, while also increasing the demand for the tokens as the app becomes more popular and more people want to join, especially as the team grows this out to other countries.

In addition, the team is doing a very sensible buyback and burn strategy with the DTC tokens. This is very important because it creates a sink for the tokens. If you think that isn’t important, read up Vitalik himself talking about how important token sinks are. It looks like the DTC team has taken Vitalik’s word seriously and created a token sink.

As the use and utility of DTC increases, so does the fees collected by the network. The DTC team has smart contracts in place that will then buy back and burn these DTC tokens via another smart contract. This means that the supply of DTC is deflating as opposed to inflating or remaining constant. This is a powerful source of return for the investors.

Here’s an infographic that the DTC team helpfully prepared for the public:

As you can probably imagine, as an investor, it is your prime concern as to where the returns will come from. What happens when you buy DTC, especially if you’re not in Russia and not going to use the DTC on the app any time soon? Well, the answer is, you’re holding on to a deflating token, which means it will get scarcer over time. This means if others want the token to participate in the network, then they will need to buy this token from you. This drives up the demand, which is always a good thing when you’re an investor in these tokens. This is a powerful and often underestimated source of return, but since you read Crypto Sailor, we are guessing you do just fine understanding these concepts.

ICO for DTC

Before we proceed any further, take some time to read the DTC Whitepaper. Go ahead, click on the link and then come back to finish the rest of the article. We’ll wait – it’s only 13 pages. Seriously, we strongly encourage you to make your own decision to invest in a token or not, and never do so without reading the whitepaper. This is the basic due-diligence that you need to do as an investor.

Then, fair disclosure – you can lose all your money you put into DTC or any ICO for that matter. So don’t try and invest your lunch money into this.

Now that we have it out of the way, here are some ICO details:

The team has a pre-sale, which is your best bet to get in early and get some discounts if you believe in the team and project. The pre-sale starts on Nov 29, 2017. The main ICO crowdsale is in March 2018, so there’s a healthy bit of room there. However, the pre-sale is capped at 550,000 Euros, so you’ll need to be fast if you want in on that. Otherwise, you can always wait till the main ICO.

The price in the pre-sale is 1 DTC=0.00025 ETH.

Here’s some distribution numbers that you should know:

As you can see, the team is following best practices here and giving a majority of the tokens in the crowdsale at 66% while still keeping a meaningful percentage of the tokens for the team at 20%. This is important because otherwise the team has no incentive to work on the project any more after the raise. However, with 20% of the token supply for the team, they are motivated to increase its value and therefore work on the project seriously.

Bounty for DTC Token

Like all good community driven projects, the DTC team has decided to incorporate a bounty program. It isn’t as generous as some other coins that go up to 2%, but it’s a start. The team has reserved a 1% of the total DTC supply to the bounty participants.

Of the 1% of DTC tokens for the bounty, here is how they are split into different categories:

DTC Bounty

Not surprisingly, we like that the largest category is their Content Campaign. Of course, blogs like Crypto Sailor are what introduce readers to projects like this, so hope you go check them out!

This is the official bounty thread that you should check out if you’re interested in this.

So if you’re interested in participating in the DTC network, check out both the bounty and investment. Bounty of course means you do more work upfront but then you don’t need to part with any of your precious Ether. On the other hand, you’ll part with something more valuable – your time.

With all those caveats, check out the project and the bounty, and let us know your thoughts in the comments below.

Clout Aims to Simplify and Unify Crypto Media and Communities

Introduction

Clout is a new crypto project that aims to solve the problem of content creation and curation simultaneously for communities where knowledge and expertise are crucial. Not surprisingly, Clout is initially targeting the crypto communities where knowledge is a premium as not many people understand all the intricacies of investing, trading, and understanding of these crypto tokens. Clout aims to become the default gateway for crypto content where both creators and curators are rewarded for their work and accuracy. Clout will share the advertising rewards with the content creators, instead of keeping the rewards to itself like other platforms do (I am looking at your Facebook).

As a platform, Clout is created to be similar to familiar platforms like Facebook where users login and post content, interact with the content, create content and curate content. However, the big difference is that Clout is community driven not just in content creation but also in reward distribution for that content. This incentivizes people to participate and create useful and quality content, so it grows both the platform overall and their own revenue. We’ve seen this model succeed with the likes of Steem for example.

Clout aims to become the ‘homepage’ for crpto investors, traders, and enthusiasts. We at Crypto Sailor know and understand the challenges of keeping up with the massive deluge of information and misinformation in the crypto landscape every single day. We see the need for a product like Clout for the community.

The team has a development plan stretching over a year that you can find in their whitepaper.

Traders Platform

When the platform is developed and if the team’s vision becomes a reality, it would be a huge boon for everyone in the crypto space be it short term trades or long term investors. After all, the basis of all investment and especially crypto is knowledge and information that not many people have or are able to work hard to gather. Now, if people are incentivized to share their knowledge and expertise with others, that’s a huge win for traders who look for any small edge and advantage over others while trading crypto.

The Clout team also aims to provide insightful analysis as part of their content play to the platform participants. Again, there is no right or wrong answer (no one has a crystal ball), but there is a right way and a wrong way to analyze the markets. The hope is, the traders who derive value out of good analysis will see that reward the creators. So now the creators have a way not only to trade the markets themselves, but also share their knowledge with their fellow crypto traders.

All of a sudden, Clout has turned a competitive market into a cooperative one.

Press Release: HydroMiner ICO for Crypto Mining Operation

A new day, a new initial coin offering (ICO). But this time one that looks very promising: HydroMiner.org; mining in the Austrian Alps! They are already listed on various ICO lists. So let us begin:

What is HydroMiner?

HydroMiner is a crypto currency mining company using green energy drawn from hydro power stations in the Alpine region of Europe. Hydropower is generally thought to be one of the most effective and lowest-cost renewable energy resources. It is environmentally friendly, carbon-neutral and natural. Hydro power allows them to manage resources sustainably and enables low-emission production.

Not only is hydro power mining ecologically friendly, but it is also profitable. It should appeal to both the hardcore investors, and hardcore environmentalists at the same time!

What is the current status?

The mining roots of the Damblon sisters go back to 2015, when they built their first crypto mining rig. Since then they have managed to scale the operation by renting out two hydro power plants and connecting more than 1000 GPUs in sea fright containers. The team knows a thing or two about the industry and mining in general. 

Why an ICO?

This initial coin offering is about scaling the mining operation by acquiring more hydro-power-plants and thus enabling eco-friendly mining and profits for investors. Unlike many other ICOs, we have experience, and a fully functioning mining operation already and the ICO is for expanding our capabilities and acquire more energy. 

So the token created out of the ICO will be used to generate a % for the token holders. On the same time the HydroMiner team will get a 10% of this profit. The team takes care of all the management of the mining operation. For this to be fair, the team behind HydroMiner will be:

  • Ordering Equipment
  • Assembling hardware
  • Maintaining and renewing the hardware
  • Identifying and leasing new hydro power stations

H2O Tokens

Token Price
Normal (none discounted Price): 0.01 ETH

Presale
Start: Monday, September 25, 2017 at 10:00 UTC
How Long: 1 week.
Minimum participation: $10.000
Discount for the Pre-Sale: 25%
Token Cap: 500.000 H2O Tokens (1.500 ETH)

Their Initial Coin Offering (ICO)
Start: Tuesday, October 3, 2017 at 10:00 UTC
How Long: 5 weeks
Minimum participation: 1 Token
Discount for the ICO: From 20% to 0%

  • Week one: 20%
  • Week two: 15%
  • Week three: 10%
  • Week four: 5%
  • Week five: 0%
    Token Cap: 25.500.000 H2O

Timeline

To get posted upon news, subscribe on their form over at their website https://www.hydrominer.org/token-sale/

Introducing HERO Token for Banking in South East Asia

This post is about a new HERO Token. This is a token for banking in South East Asia. To under the HERO Token, you first need to understand the broader climate in South East Asia. It seems like a lot of older crypto folk from the US and western Europe don’t know or understand the South Asian markets and their dynamics. However, blockchains are global technologies, and increasingly, we’re seeing a lot of new products and innovation coming from other regions as well. HERO is a token that squarely belongs to South East Asia.

Introduction

Firstly – the people and internet. You’re talking about twice the size of the United States, so there’s a significant market there. There is good, but not great internet penetration. This is tricky to quantify but let me try. If the region is too early, then there won’t be enough traction. If it’s too late, there is not much growth. Around 30-50% is, in my view, the best time to enter these markets because everyone knows about the power of the internet by now, and there’s still ample growth opportunities because not everyone is connected yet.

SE Asia Internet Penetration

Secondly, the banking sector. In this region, the banking penetration already lags internet penetration, and the gap is only going to grow. With mobile phones, it is much easier to get access to the internet than to get a bank account.

Banking Penetration SE Asia

As you can see, the banking services penetration severely lags internet penetration, especially when you look at the growth rates. In addition, you can see the very poor penetration of credit cards in these markets. In such a market, the use of cryptocurrencies as a store of value and means of payment is pretty evident. Look at the total internet users snapshot this time –

SE Asia Internet use

You can see how large the populations are, and how much of a market scope there is. If the internet growth outpaces banking growth as it did over the last few years, how will the markets change? There is a clear need for blockchain technology solutions that are digital for payments and wealth storage.

The HERO Token

Enter the HERO token. It is a leading fintech company native to South East Asia, and helps with providing credit locally. They are taking on the huge lending industry, which is entrenched in its old ways and doesn’t leverage the power of the internet.

The way it works is simple. On the borrowers side, it provides loans, first collateralized and then expanding into uncollateralized ones, so borrowers have instant access to credit. On the lender side, it allows investors from across the world to access a booming and growing economy of South East Asia and make much higher returns on their money than their usually Western markets like US and western Europe.

The team has already demonstrated its capability with a PawnHERO token, which is a different blockchain-based take on the whole pawn shop experience. However, the team has much bigger plans, and is therefore looking for a token sale to help expand and grow their business. As a fintech pioneer in the region, it is working with limited data on reputation and credit scoring algorithms that will help it retain its lead in the market. Here’s a quick infographic on how the process will work –

HERO token

The ICO

The HERO token will undergo an ICO so that the token is distributed among participants. Unlike many other ICOs on the market today, the HERO ICO will distribute 80% of the tokens to the public and only keep 15% for the team. This is a good move, because the people need to take the risk-return in the market and will help investors who put money into the project at such an early stage.

If you want to learn more, check out the official website. If you want to invest in the ICO, we strongly suggest all investors and potential investors to read the whitepaper too. Finally, you can find the Bitcointalk ANN thread here for community discussion.

Introducing Delphi: The Silver to Gnosis’ Gold?

Delphi

Prediction markets are a hot commodity, and a perfect application for crypto markets. They are usually disallowed by the government, so it makes perfect sense to create them on a decentralized blockchain out of any single entity’s control. They have been shown to be a source of extremely valuable information on a number of different occasions and for many different use-cases. They interest the punters and the academics alike. They will also especially appeal to the crypto-crowd given how much the people in the space like speculation.

So on the heels of Augur and Gnosis, the two big giants in the prediction marketplace, is there room for a third? Akin to Litecoin being branded as the silver to Bitcoin’s gold, is Delphi the little brother to Gnosis? Let’s find out a little more about Delphi.

Structurally Similar to Gnosis

Delphi is created to be compatible with Gnosis. However, the real differentiator between them comes from how the oracle system is organized. Delphi has a more robust set of oracles that run through a multi-sig so a compromise on one of the oracle doesn’t lead to immense losses on contracts. You can read more about Delphi’s recently introduced ‘Pythia Framework‘ on their blog for more details.

Then, there is the issue of token distribution. Gnosis, as much as the team may deny it, had a really unfair ICO. They issued just 5% of their tokens. Almost to prove this to be an anti-thesis to that model, Delphi have pledged 95% to the community and just 5% for their own development efforts.

This will be a big differentiator between Gnosis and Delphi. When it comes down to it, a fair token distribution is really important for crypto projects to succeed, because otherwise there is not enough skin in the game to make efforts for success by the community. It is better for the tokens to be widely distributed than be hoarded by the development team.

The token parameters are similar for both Gnosis and Delphi. In Delphi, you buy into Del tokens that release Phi tokens to be used for fees on the network. The Del tokens in this case are similar to the GNO tokens in Gnosis.

Anonymous Team

Now this is a big one, and can go both ways. Although the recent trend, especially for Ethereum ICOs, has been towards open teams, and we understand why, this is the exception in crypto, not the norm. The team claims that being anonymous helps them avoid any government intervention, considering several governments haven’t been too kind to prediction markets in the past. However, it makes it that much easier to pull an exit scam and run with the money. Trust us, we are equally worried about the possibility. But given the risk-return profile of the project, we’d still like to talk about it and give the team the benefit of the doubt, at least for now.

The team has maintained clear thoughts on the project throughout, even though there isn’t much code released yet before the ICO. You can check out the team’s blog on Medium to learn more about the philosophy behind the project and support them if you agree with their vision.

Check out Delphi now, and their ICO is still ongoing for those interested.

Photo Credit: flickr

TokenStars Announces New ICO to Tokenize Celebrities’ Careers

This is a sponsored post by TokenStars

The celebrity talent management industry is larger than many Fortune 500 companies and even many countries’ GDP (including EU countries), boasting over $40 billion in contracts under management. TokenStars’ new ICO aims to disrupt this market, which is currently dominated by a few key players, and share the newly-created value with community members. This is the first project to tokenize massive celebrities.

The ACE project begins with tennis players (1 billion fans worldwide), after which TokenStars will move on to football (GOAL Project) and others, eventually expanding into poker, basketball, hockey, and even movie stars, music bands, and models. Eventually, all of these verticals will be combined under a shared infrastructure with the STAR index token, so early supporters will get a priority seat.

Based on the proven talent management agency (TMA) business model, ACE is a low-risk global project whose goal is to introduce tennis fans to the blockchain world. The top 20 players already have 172 million active fans, and TokenStars will put special emphasis on global PR and marketing to get the other 0.8 billion on board. The opportunity to help sponsor the next mega-star and get exclusive offers should be very appealing.

How does it work?

Currently, aspiring players are limited in their means of financing their success. Some stars like Tiger Woods and Maria Sharapova were fortunate to have support from their parents, but many must depend on loans from friends and/or small grants from local sports federations or TMAs. This puts most of the decision-making power in the hands of TMAs, and lets many rising stars slip through the cracks. With the ACE Project, supporters can crowdfund the effort to find the best talent worldwide.

ACE provides young aspiring tennis players the funding and promotion they need to have access to the best resources and get to the top of the sport, without getting discouraged and dropping out. Successful women and men will earn prize money (less than $1m for a 400th-ranked player, $60m+ for a top-5 player) and celebrity status, which will then lead to sponsorship deals, which are roughly 5-10 times larger than the prize money earned over the player’s career.

Decentralization

Talent sourcing and promotion will be handled by two separate decentralized entities: the Global Scouts Network and the Global Promoters Network. To find new talent, tennis coaches will be paid a referral fee which can be as high as their annual salary, which should provide a high-quality flow of candidates. The robust talent promotion stimulus (10% of the contract) is well within and above the market, and should provide a good flow of sponsorship deals to the players.

Key decisions will also be decentralized, using the DAO mechanism. A single biased sports agent relying on his gut feeling will not always make consistently good decisions, but a well-informed crowd that relies on analytical reports can be counted on to make decisions that will benefit everyone.

Main benefits

The ACE Project and all following projects are designed to be of maximum value to all stakeholders. Purchasers of ACE product tokens will get unique opportunities to communicate with stars, get one-on-one training, VIP tickets and books, business endorsements well below market price, and more. Athletes will receive collective support from the community, which was previously impossible, and the decentralized key processes of scouting and promotion will dramatically lower costs and shift most of the created value to the community.

About TokenStars

TokenStars is the first blockchain company to tokenize massive celebrities. It aims to provide funding and promotion resources to rising stars by disrupting and decentralising the talent management industry. Starting with issuing ACE tokens for the tennis vertical, the company plans to expand with new verticals, including football, poker, basketball, hockey, cinema actors, musicians, and models.

Follow the project’s social media channels on:  Facebook  Twitter  Telegram  Slack

 

Crypto Asset Proliferation, Liquidity, and the Bancor Protocol

I believe crypto assets will be the future, and asset managers from around the world better heed this brave new world. Very soon, crypto assets will become a core part of a well-diversified portfolio. Some enterprising portfolio managers will allocate up to 5% of the portfolio wealth to crypto assets. Others will limit it to 1%. Slowly but surely, the movement will gain momentum. Today, all crypto-assets are valued over $100 billion, We’re already in serious money territory.

The Future of Crypto Assets

The future of crypto-assets would be the proliferation of many of them. If you think the 700 odd crypto assets today is a lot, wait till you get tens of thousands. If it benefits a few projects, it will benefit a lot of them. Today, not even 0.1% of the world population owns crypto assets. Imagine when entrepreneurs from around the world will be able to use them to build future economic value on the blockchain.

So one big problem that portfolio managers will encounter when investing in crypto assets is liquidity. No good manager worth his salt will touch a situation akin to ‘penny stock’ where there are a few buyers in town, usually looking for a quick pump and dump. In addition to liquidity, access to markets is also essential, i.e. the asset manager needs to be able to make a decision on a buy or sell for a crypto-asset and make sure his traders are able to execute that trade without a lot of slippage or excessive fees. This goes for both buying and selling these assets.

Crypto Asset Management Challenges

Crypto assets are a special breed of asset class, and today, as big as the market is, still lacks proper, regulated exchanges that can keep up with the volume. Centralized exchanges like Poloniex and Bittrex do a good job when the market is $10 billion, but we’re at an order of magnitude above this. Relying on centralized exchanges to add tens of thousands of crypto assets in the future is a fools errand. Of course, we may see a stock-market like situation where custody and trading are separated, in which case there can be tens of thousands of crypto-assets traded, just like today’s stocks. However, this brings in the problem of custody, and that is very tricky especially with crypto assets. Did we already mention that crypto assets are a special breed in and of themselves?

So what’s the solution to the liquidity problem, and how should new crypto assets ensure that they are able to meet the requirements for a liquid market that will attract money in the market required to fund their projects?

Enter Bancor

Bancor is a new crypto protocol that allows for the decentralized exchange of crypto tokens (currently only on the Ethereum platform), without requiring counterparty risk. The difference between Bancor and other types of decentralized exchanges is that there is no counterparty required, which means the portfolio manager doesn’t need to worry about who is on the other side of the trade. Only a smart contract is on the other side of the trade!

Depending on the project requirement, they can choose how deep the order-book is with the smart contract. This is calculated as a reserve ratio. For example, if a project raises 25,000 ETH and wants to keep 10% deep order books, they’ll keep 2500 ETH in the smart contract, locked away for trading purposes.

Just like regular order books, the price increase with each buy and decreases with each sell. The major point is that there is liquidity in the market without the need of a counterparty.

Newer crypto projects will be incentivized to use the Bancor protocol to issue tokens because they can attract a larger investor base. This won’t be a problem today, but will become more significant in a 5 year time frame.

Photo Credit: Nick Harris

Bancor Allows Anyone to Create and Trade their Own Cryptocurrency

Bancor Crypto

Bancor is new interesting crypto protocol that aims to make it really easy for small communities and individuals to issue their own tokens, while retaining price discovery without being listed on exchanges. Intrigued? Read on.

Market Without an Exchange

The biggest feature that the Bancor protocol provides is the ability for a token to have a market but without having to be listed on an exchange. Anyone who’s been in the crypto community long enough knows how hard it can be to list smaller tokens on exchanges. This is not surprising – exchanges make their money on volumes, and if the trading volume is low, they don’t want to go through the overhead of maintaining that token.

However, the proliferation of the token economy means that many different use-cases arise, not all of them having a high trading volume. Smaller communities and individuals could theoretically issue their own tokens for local causes, but they would never garner the types of volumes established global currencies do. If exchanges don’t list them, there is no market and thus no price discovery mechanism.

This is where Bancor comes in. For the first time (that we’re aware of), Bancor provides a way to create a market for a token but without the use of centralized exchanges. It works through a smart contract on Ethereum. The full details are beyond the scope of this introductory post, so read the whitepaper.

But in a nutshell, when a token raises money, it keeps some of it in a reserve, and issues tokens. These tokens trade in the market based on their utility. The smart contract is written so it can create a supply of new tokens whenever needed, by sending ETH (or another ERC20 token) to the contract. This causes the price of the token to increase. By a similar mechanism, whenever someone converts their tokens into ETH (or another ERC20 token), the price of the token decreases.

Note that this whole mechanism is a ‘conversion’ and not an ‘exchange’. One fear is that the prices may be manipulated by whales if they hold supply via the smart contract and also via external exchanges. This also means that during distress, those who are able to exit their positions first are at a significant advantage over those who are not, since the price continues to spiral downward with selling.

A Basket of Tokens

With a full reserve, the Bancor protocol also allows for the creation and redemption of ‘ETF-like’ baskets but of tokens instead of stocks. The price arbitrageurs will make a profit by ensuring the prices stay in sync. This can provide a fairly stable mechanism for a basket of tokens created using Bancor.

Bancor will have an ICO soon. Check out their website to learn more about the project and keep up to date with their progress.

Photo Credit: pedrosimoes7

Fund Yourself Now (FYN) Targets the Crowdfunding Industry

Fund Yourself Now FYN

Every once in a while we here at Crypto Sailor come across a crypto project that tackles a real problem in a real industry. Fund Yourself Now (FYN) is one such project. Fund Yourself Now is an Ethereum-based crypto project that takes aims at the rapidly growing crowdfunding industry. The industry scope is high – it is a large and growing industry. If FYN can get even a small chunk of the industry, it will be quite valuable.

So what does FYN offer? It is a smart-contract platform built specifically for crowdfunding on the Ethereum blockchain. By being built on the Ethereum blockchain, it removes the element of trust usually required for centralized crowdfunding applications in general.

By removing this centralized trust, Fund Yourself Now is able to create a better accountability and incentive structure for a crowdfunding campaign. This benefits both the projects looking for backers and the backers themselves, since both sides have an incentive to be honest. Ethereum of course offers the team the ability to create a better form of crowdfunding via the use of smart contracts.

A big problem that Fund Yourself Now solves is to keep the team accountable to the backers who are financially invested in the project. The team does this by a smart contract enabled milestone-triggered payment solution. This way the team cannot just abandon the project and take all the money. Instead, the team gets the money only subject to meeting minimum requirements as outlined in their milestones before the backers put any money into the project. In addition, the project backers will have more say in how the funds are distributed via a voting mechanism. This provides some power to the people who are backing projects financially, and doesn’t leave everything at the mercy of the team, that can find it easy to abuse the trust shown by the backers.

Another very interesting aspect of Fund Yourself Now is the creation of a coin marketplace. This marketplace will act as a medium of exchange between the various project-specific tokens and rewards. Since everything is in the form of blockchain tokens, such an exchange will benefit all the projects that are launched on Fund Yourself Now. It also provides much needed liquidity to the backers of the project, who can trade them in the secondary market depending on how the project is making progress. This will allow the backers to ‘exit’ a project that isn’t going according to their vision or what they originally signed up for.

Finally, there is a social reputation system built into Fund Yourself Now platform, which should help with bringing in more transparency. Although this usually isn’t a huge problem in the traditional crowdfunding arena, it is a big step in the right direction for the crypto-backed projects that tend to remain anonymous even while raising a lot of money. With social reputation, there is less incentive for projects to disappear overnight.

Fund Yourself Now is an ambitious attempt at using Ethereum’s smart contracting platform to build a better experience for all parties involved in the crowdfunding process.

Check out the project here.

Photo Credit: Nick Miller

Starbase Creates Incentivized Project Management on Blockchain

Starbase

Starbase is a really interesting new crypto-project that aims to help other companies and projects in the space attract the right talent and incentivize the people properly to ensure everyone works towards success. In the sea of new ICOs being launched as crypto markets reach record-breaking highs, it is easy to be distracted by all the noise. Starbase however is different in that it is not a quick way to make money for the founders but instead is a great way to help the whole cryptocurrency ecosystem move forward.

A Three-Pronged Approach

Starbase is building a three-pronged approach towards new projects in the crypto community. In our view, this is a great use of resources, and something that will be appreciated by the whole community if it works as advertised.

  • Projects: Projects can list on Starbase in order to attract both money and talent. Any crypto project will need both to succeed. By creating a single place that brings all the stakeholders together, Starbase is building a model where new crypto projects are incentivized to move to the platform instead of start from scratch.
  • Investors: For investors, Starbase provides a quick and easy way to find new investment avenues, especially in the nascent crypto-token economy that is just taking off all over the world. In addition, since the Starbase team will do a first-pass due diligence, and the platform will likely not list balatant scams, investor risk is reduced.
  • Workers: There are many talented people in the crypto-economy who were early adopters and believe in the vision of crypto changing the world for good. However, it is very hard for these talented workers to find the right project fit and also be able to gain in the upside of a project they contribute. Starbase solves this problem by making sure that these workers get paid in the project tokens. This way, the workers are incentivized to give their best because if the project succeeds, they make more money. It is a win-win for the projects and workers.

Starbase is building the next-generation blockchain-based crowdfunding platfrom to help grow the entire crypto-economy and move it forward. Of course, the use of Starbase isn’t limited to crypto-projects. However, we expect that the earliest projects to be built on the Starbase platform will come from within the crypto-economy.

Any project needs money to succeed. Therefore, investors are a key piece of the puzzle. In addition, many of my readers are interested in investing in crypto and ICO, so let’s address the key advantages to investors.

Starbase will implement a voting system to weed out obvious scams and really bad projects. This will not be fail-proof of course, but it should reduce the total risk of complete scams or failed projects that investors usually take in other ways. If you see a completely random crypto project in Bitcointalk, the likelihood of it being a scam would be higher than if you spotted the same on Starbase.

Also, the tokens being created by the Starbase platform are liquid like any Ethereum-based ERC20 token. This has become the de-facto standard Ethereum token today. Therefore, plenty of exchanges and platforms will be able to support the tokens.

So Starbase aims to build a whole new crypto-ecosystem that could benefit the entire community. If you want to discuss more, head over to the Bitcointalk thread.

Starbase Email: captain@cryptosailor.com

Photo Credit:  lukas schlagenhauf