Hhhhmmmmm the basic principles of this system are good. I'm still thinking that there may be a simpler way to create the Trust value we are all screaming about with Blockchain. The 'Smart Contract' should be a simple way for us to create a 'fund bank' which will only be released on the conclusion of various 'proof of work' / roadmap activities.
I think there is something out there similar (will have to do some digging again).
Thanks for the 'heads up' about Blockhive and Takenote. I'll be doing a bit more research into them and how it all functions.
Hopefully we, as a community, can begin to seed out the rotten apples and create a substantially more stable, trustworthy ICO Funding system that better benefits the investors. Great Post! (Sharing on Linkedin)