SmartContractChain - a new generation crowdfunding platform

yousufatik23 (1)(1)in #smartcontractchain • 6 years ago

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 the implementation of a number of processes and inspections. However, today, most start-up companies collect huge sums from investors, posting only documentation, which describes the principles of work and plans for the future.

Of course, such a fundraising strategy is most beneficial for startups, but it significantly increases the level of risk for investors. Due to the unregulated management environment of tokens, individuals who have invested their own funds in the development of projects will not be able to return them back in case of inappropriate management of funds. In addition, investors will not be able to influence the change in business strategy.

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 participate in crowdfunding, which forces them to seek investors only in their own country;
Crowdfunding platforms set a commission of up to 20 percent of the total fees;
Low level of trust associated with a large number of unsuccessful projects;
Lack of funds to create high-quality advertising 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.

Objective of the project

The main goal of the SmartContractChain developers is to ensure an optimal level of security for investors' funds and to improve the crowdfunding process through the use of Blockchain technology.

Principle of operation

The work of the platform and the interaction of project creators and investors will be provided by the 4 main components of SmartContractChain:

An application that includes a number of functions, a purse for storing funds and a platform for buying or selling coins of a project;
Internal server for managing smart contracts and projects;
Wallets support technology;
P2P marketplace.

The most significant element of the platform will be an application with a graphical interface, which can be accessed through the website of the platform or through smartphones and other gadgets. This application will contain the following elements:

A wallet that allows you to use absolutely any tokens for investment.
Analytical data center that allows you to view, the distribution of invested funds and detailed data on projects.

It is important to pay attention to the fact that within the framework of the platform, on the basis of analytical data, each investor can withdraw funds already invested or increase his contribution. This procedure is ensured through the creation of smart contracts, which also allow you to return funds to investors in case the project goals are not achieved by the project developers.

In addition, as part of the SmartContractChain application, a filter will be introduced that allows you to distribute projects depending on their rating and focus. All company information will be stored in the backend service. At the same time, within the framework of the platform, only those projects that have passed the verification process will be presented.

To ensure greater efficiency, SmartContractChain will also present a P2P exchange, which allows trading cryptocurrency assets.

The main resource of the platform will be SCC tokens, which will be charged as commission fees for operations under the SmartContractChain platform. These coins will be available during the ICO.

ICO details

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 from October 15 to December 30 of 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 - 1 million dollars, hradkap - 30 million dollars.

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 considering the growth of fraud in the ICO market and the high size of commissions for crowdfunding platforms.

This project can attract the attention of many project developers and many investors, so investing in the development of SmartContractChain can be very successful.