Vilmar VillarroelICO team member replied on 8 Jan 2019
Dear Sir.
Dr. Krishnendu Chatterjee.
Respected Sir,
First of all, let me give you on behalf of the AURICOIN team, our heartfelt thanks for taking your time to review our business proposition, really a thousand thanks.
Please allow us to answer your questions, we hope we will dissipate your doubts.
White paper: The definition of the problem of the white paper is unique, but the solution leaves much to be desired. The idea of having a loan platform based on smart contracts is not new, but the process of a parallel credit system is a new one! The document has not mentioned the process of selecting people or companies within the network and their authentication. Also, what is your main objective? Do you want to be a starting point for the world of cryptography or grant loans backed by letters of credit documents, etc? The white paper is inadequate for investors to make an informed decision.
A = What we propose to solve the mentioned problems are the following:
1. Issue a token that is used by humanity as an instrument of exchange for goods and services, savings and investment mechanism, granting of credits and financial documents used by international trade (importers and exporters).
2. Grant credits, with the AURICOIN token with interest rates of 0.10% per year, for agricultural and industrial production and with grace periods of 3 to 6 years.
3. Pay attention to international trade to importers and exporters through financial documents such as: Letters of credit (in the different modalities used in international trade), with costs that do not exceed 0.30% of the value of the document.
With this proposal that AURIcoin offers, it will be possible to increase the goods and services, such as: agricultural and industrial production. With the granting of credits in a simple and direct way, we will achieve greater production, and with higher production, lower prices; at lower prices, greater purchasing power for the final consumer (the people).
AURICON HAS THE POTENTIAL OF:
Eliminate global inflation, world hunger, illiteracy and economic recessions. The crime rate will drop by 80%, the global unemployment rate will decrease by 98% and eliminate 78% of global emigration.
Who will benefit the AURICOIN project?
This project, as it is conceived, will benefit all of humanity, without distinction of classes, creeds, races or even geographical points.
AURICOIN will promote:
Personal, productive and industrial development.
Team: The composition of the team is large and diverse, but you cannot find much information for most of the more than 25 team members.
A=
Tokenomics - They have 100 billion pre-mined tokens. They have discounts of 20%, 15%, 10% and 5% for the sale of chips, which is good and is within the appropriate reasons. The allocation of funds is mentioned and also within the limits.
It is difficult to reach the $ 40 million soft cover and the $ 80 million hardcover with the current scope and explanation in the technical document. The white paper should be polished with detailed information in order to educate investors about the advantages of investing.
Business model: The business model is clear: using tokens for credit payments, savings on the platform, exchange with public tokens, etc. But as the project uses the ETH public network for the deployment of smart contracts, the idea of having an independent token becomes redundant as the team can simply accept payments through ETH or fiat directly into smart contracts. The business model of the platform franchise is unique.
Our goal is also to create our own blockchain.
A big hug, and we are very grateful for your time.
MVP / DApp / Work product: they claim to have an MVP but it is not operative (clarify if this is not the case).
Some details are being finalized to launch the MVP.
A = A thousand thanks for your suggestion, we are already correcting on our website the inefficiencies.
Without further ado, I subscribe,
Vilmar Villarroel
Dr. Krishnendu Chatterjee.
Respected Sir,
First of all, let me give you on behalf of the AURICOIN team, our heartfelt thanks for taking your time to review our business proposition, really a thousand thanks.
Please allow us to answer your questions, we hope we will dissipate your doubts.
White paper: The definition of the problem of the white paper is unique, but the solution leaves much to be desired. The idea of having a loan platform based on smart contracts is not new, but the process of a parallel credit system is a new one! The document has not mentioned the process of selecting people or companies within the network and their authentication. Also, what is your main objective? Do you want to be a starting point for the world of cryptography or grant loans backed by letters of credit documents, etc? The white paper is inadequate for investors to make an informed decision.
A = What we propose to solve the mentioned problems are the following:
1. Issue a token that is used by humanity as an instrument of exchange for goods and services, savings and investment mechanism, granting of credits and financial documents used by international trade (importers and exporters).
2. Grant credits, with the AURICOIN token with interest rates of 0.10% per year, for agricultural and industrial production and with grace periods of 3 to 6 years.
3. Pay attention to international trade to importers and exporters through financial documents such as: Letters of credit (in the different modalities used in international trade), with costs that do not exceed 0.30% of the value of the document.
With this proposal that AURIcoin offers, it will be possible to increase the goods and services, such as: agricultural and industrial production. With the granting of credits in a simple and direct way, we will achieve greater production, and with higher production, lower prices; at lower prices, greater purchasing power for the final consumer (the people).
AURICON HAS THE POTENTIAL OF:
Eliminate global inflation, world hunger, illiteracy and economic recessions. The crime rate will drop by 80%, the global unemployment rate will decrease by 98% and eliminate 78% of global emigration.
Who will benefit the AURICOIN project?
This project, as it is conceived, will benefit all of humanity, without distinction of classes, creeds, races or even geographical points.
AURICOIN will promote:
Personal, productive and industrial development.
Team: The composition of the team is large and diverse, but you cannot find much information for most of the more than 25 team members.
A=
Tokenomics - They have 100 billion pre-mined tokens. They have discounts of 20%, 15%, 10% and 5% for the sale of chips, which is good and is within the appropriate reasons. The allocation of funds is mentioned and also within the limits.
It is difficult to reach the $ 40 million soft cover and the $ 80 million hardcover with the current scope and explanation in the technical document. The white paper should be polished with detailed information in order to educate investors about the advantages of investing.
Business model: The business model is clear: using tokens for credit payments, savings on the platform, exchange with public tokens, etc. But as the project uses the ETH public network for the deployment of smart contracts, the idea of having an independent token becomes redundant as the team can simply accept payments through ETH or fiat directly into smart contracts. The business model of the platform franchise is unique.
Our goal is also to create our own blockchain.
A big hug, and we are very grateful for your time.
MVP / DApp / Work product: they claim to have an MVP but it is not operative (clarify if this is not the case).
Some details are being finalized to launch the MVP.
A = A thousand thanks for your suggestion, we are already correcting on our website the inefficiencies.
Without further ado, I subscribe,
Vilmar Villarroel
