The world of virtual currency has completely changed the attitude to crowdfunding and investing in the early stages of project development. More recently, the financing of developing projects involved a number of processes and audits. Today, however, most start-up companies collect huge amounts of money from investors, placing only the documentation, which describes the principles of work and plans for the future.
Of course, such a strategy of raising funds is the most profitable for startups, but it significantly increases the level of risk for investors. Due to the unregulated token management environment, persons who have invested their own funds in the development of projects will not be able to return them back in case of inappropriate Fund management. In addition, investors will not be able to influence the change in business strategy in any way.
It is important to note that modern fundraising for further development is problematic for the projects themselves due to the following reasons:
- not all countries can take part in crowdfunding, which forces investors to look only in their own country;
- crowdfunding platforms set a Commission of up to 20 percent of the total amount of fees;
- low level of trust associated with a large number of failed projects;
- lack of funds to create high-quality advertising of the project and attract investors.
To solve these problems and eliminate the risks associated with investing in ICO, a unique platform called SmartContractChain will be created.
Project objective
The main goal of SmartContractChain developers is to provide an optimal level of security of investors ' funds and to improve the crowdfunding process through the use of Blockchain technology.
Principle of operation
The work of the platform and interaction of project creators and investors will be provided by 4 main components of SmartContractChain:
- the application, which includes a number of functions, a wallet for storing funds and a platform for buying or selling coins of a project;
- internal server for managing smart contracts and projects;
- wallet support technologies;
- trading platform P2P.
The most significant element of the platform will be the application with a graphical interface, which can be accessed through the platform's website or through smartphones and other gadgets. This application will contain the following elements:
- a wallet that allows you to use absolutely any tokens for investing.
- an analytical data center that allows you to view, allocate, and detail project data.
It is important to pay attention to the fact that within the framework of the platform, based on analytical data, each investor can withdraw already invested funds or increase his contribution. This procedure is provided through the creation of smart contracts, which also allow investors to return the funds if the project developers will not achieve their goals.
In addition, the SmartContractChain application will present a filter that allows you to distribute projects depending on their rating and orientation. All information about the companies will be stored in the backend service. At the same time, only those projects that have passed the verification process will be presented within the framework of the platform.
To ensure greater efficiency within SmartContractChain will also be presented P2P exchange allowing you to trade cryptocurrency assets.
The main resource of the platform will be SCC tokens, which will be charged as fees for operations within the SmartContractChain platform. These coins can be purchased during the ICO.
Dates and details of the ICO
The creators of the platform intend to sell 45.1 million tokens, which is 75 percent of the total number of coins. The sale will be carried out from October 15 to December 30 this year. The cost of the 1st SCC depends on the number of coins sold. So, in the last stages 1 SCC can be bought for $ 0.8.
Softcap of the project is 1 million dollars, hardcap – $ 30 million.
The distribution of tokens is as follows:
Conclusion
The launch of the platform, which simplifies the process of attracting investments and ensures the safety of investors ' funds, is very important, especially given the growth of fraud in the ICO market and the high size of crowdfunding platforms commissions.
This project can attract the attention of many project developers and many investors, so investing in the development of SmartContractChain can be very successful.
Official resources of the SmartContractChain project:
