Our cryptocurrency isn’t really a baby yet, its not even an embryo. In fact, Its probably only a twinkle in her father’s eye. Well maybe just a little further on than that. Its where Mum and Dad have had a few drinks and are about to get jiggy.
This business concept is Julian’s idea, and without giving too much away, it is an innovative social media platform for businesses which will have its own cryptocurrency attached. The model has a strong ethical backbone and we are passionate about its ethos. Its aim is to support and nurture new business all around the world, in every little corner, from Quito to Lamin, Pokhara to Detroit. Dividing out the international investment pool, to people who can’t even open up a bank account never mind get a business loan. Its about giving a platform to those people whose voice would never normally be heard by traditional modes of investment. People whose voice should be heard! Ultimately empowering new business models that can advance the world in some way, small or big.
Quito, Equador (Pinterest)
Cryptocurrency has revolutionised the possibilities for new start-ups. The amazing thing about cryptocurrency getting down with new business is everything happens fast. Much faster than the slow clonking cogs of the conventional route for starting up a business. By the old route, a new business has a 40% chance of failing in the first five years, battling with centralised banking and investment at a snail’s pace.
With the birth of the cryptocurrency market, if you survive the second round of Initial Coin Investment (ICO) you are likely to go the whole way, and this does not take years but months. Investors and entrepreneurs are moving into a world where token networks influence the way new businesses are established and run Source.
Our start-up is a network business, which in the old days would rely heavily on advertising to succeed. With the advent of cryptocurrencys, ICO’s and token networks, a start up business funded by a token currency can plan, engineer and maintain a token economy. Value created in a token-based economy can be more efficiently shared between the different token holders: founders, builders, customers, service-providers and investors.
Source. Everybody gets a big bite of the cherry.
Julian is the founder and CEO, he has had this idea in the back of his head for several months now, seeing the frustrations of setting up a business first hand. A digital designer by trade, he was able to map out the front end of the business. Working in digital advertising for many years he has built up a large portfolio of useful and talented contacts.
He first enlisted the collaboration of an exceptional systems architaect, Robin. When the time comes Robin will hire a team to develop the front end of the business. Initially Robin scoped out how the social media aspect of the platform were going to work, and estimated projected costs. Taking this initial business model to a number of contacts including the British government, Julian generated a lot of interest. Unfortunately, the government was slow to move, with too much bureaucracy and red tape to jump through.
Knowing his idea had legs, Julian got his close friend Andrew on board. Andrew and Julian have been friends for years. Julian has actually asked Andrew to be his best man for our wedding next May. They have owned a couple of businesses together over the years. One of which was stolen from them (but that’s another story!).
A few days after his heart attack, Julian was due to have a meeting in London with a potential investor, and close friend of Andrews. Obviously he wasn’t quite up to that meeting! so it was postponed indefinitely.
After Julian’s stint in hospital and some existential realisation. He was becoming very disillusioned with the lack of motivation of his partners in Mercardo he decided he needed to get an inspiration team together this time and really go for the new business network idea.
He decided to get David on board. David is a digital marketing strategist for a large media firm. Julian arranged a meeting with him as he saw the potential power and motivation of this guy. David loved the idea, and suggested adding a cryptocurrency to the platform to really make it fly.
David was becoming increasingly interested in Cryptocurrency and was starting to earn serious money on his investments. Julian didn’t know anything about cryptocurrency but he was soon convinced by David this was what they needed to do. One thing that was particularly appealing to this model, is the speed at which the business would take off, with a projected vision of a final ICO coming in September 2018. Now coming from his current business which was originally started 7 years ago this is very appealing.
So were I left off last time in my introduction, we were going loggerheads on picking up a catchy .com name for the company, which is very difficult since most are already bought. To get around this difficulty we have come up with a name that has two f's instead of one. We have put in a bit of $750 to buy the .com name in GoDaddy, and they have returned to us with an offer to buy of $500. Odd that they came back with a lower offer, but hey ho. We will purchase the name when we recieve the initial round of investment. I have just seen a sketch Andrew has drawn of the logo, and it really looks beautiful. I cant wait to show you in a big reveal.
David has sourced a well respected team of developers in Bulgaria. Bulgaria is quickly emerging as the tech capital of the balkans as it the Tech capital of the Balkans Source. They are an emerging blockchain technologies company who will develop the smart contract coin. When they saw the details of our company, they actually said 'this is actually a good one'. This coin development will come in at a high price, and will start after the Pre ICO has been secured.
Sofia, Bulgaria Source
With all this behind them they rearranged a meeting in London last week with their initial investor George again, the meeting they had to postpone in November. George is very excited about the new venture and wants to come in not just as an investor but also as an advisor. To take the business to pre ICO they have targeted for an initial investment of £150,000. George is going to organise a meeting for them to pitch their idea to a select few of angle investors. Those who invest at this early stage will see a larger reward in their investment. George said that £50,000 is nothing to these guys, they think nothing of spending £30,000 on a meal. Also with the tax year coming to an end in March they are incentivised to invest so as not to unnecessarily lose money to the taxman. The enterprise investment scheme (EIS) was designed to encourage private investment into growing UK companies by offering attractive tax breaks to potential investors Source
While in London, Julian also met Chris, the primary investor in his current company. Julian was a little concerned about telling him he was planning to start another business. He holds Chris in high regard and didn’t want it to jeopardised his current business, or their professional relationship in any way. Julian explained his vision and how having a heart attack has made him revaluate his future. Chris is a clever man and appreciated Julian’s honesty, saying that he would invest in his new venture, because in the past he was investing in Julian not the business.
So now Julian, Andrew and David are now getting all the figures together, ready to present their pitch to the primary investors next week. Things are starting to look very promising, with an agreement in principal from 2 investors already on the table before, almost taking them to their initial investment target of £150,000 before they even present it.
Journey with us as we nurture a UK Tech Startup incorporating its own cryptocurrency. Oh and plan our wedding!. A lot can happen in a year, will we succeed? come and see.