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What is the minimum to invest in the project?
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Which market is the prime target for Vernam as a project? Would that be Europe or thy plan to go more wide?
Main target is Europe, but if more funds are raised they will expand to other markets too. |
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When do we expect beta to be ready? Maybe beta will come along with the start of the ICO?
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Do we need to go through KYC?
Who need to pass the KYC? If you want to to invest equal or more than $7500 USD (~$10,000 AUD) worth of any coin. Do I need to pass KYC to participate in Airdrop or Bounty? NO. Awesome, this is really good that we don't have to bother with KYC from smaller investments and bounty  I tired participating in some tasks for Airdrop tokens and some of the options don't work properly yet.Like facebook ones, can you check if it is only me? Yeah it is the same for me, when I try to review facebook page and verify that it shows and error and won't verify that I reviewed it. |
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Is KYC needed in order to join the sale?
Only if you want to to invest more than $7500 USD (~$10,000 AUD) you need to pass KYC otherwise Agate will refund you investment fund. This will make it really friendly for a lot of small investors, by allowing them to avoid KYC. Are you guys based in AU, as you mentioned AUD? |
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To bad they don't let Newbies participate. I feel they could get something out of that for sure. It is mostly because newbies are quite inexperienced with crpyto and bounties so lot of project don't like to add additional workload by guiding newbies through all the requirements and tasks. |
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Good to hear that the project has reached it's softcap.
So next target will be the hard cap, may i know how much the hard cap is?
I think that hard cap is 500 million if I'm not mistaken. 500 million? Isn't that a bit too too much to expect? Yeah it think he was not clear enough it is 500 M VRN tokens sold that is the Hard cap. |
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The airdrop token distribution is going to happen after the ICO end, right? sometime in July...........
When exactly Thinkcoin ICOs end?I know its been extended. there is counter on their site 15 more days before ICO finish. That is a counter for Presale phase, then when that ends ICO starts - so it will last till the early July. |
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Presale ends in just 1 day and 15% bonus with it people, so grab the bonus while you still can!
So ICO is closing in, is there any news about any potential talks about listings on exchanges recently? I haven't heard anything about exchange deal yet, I certainly wouldn't mind some news in that arena even though it might be a bit early for that, but it would make people more interested to have some idea what is being done on that front, even without any exchanges names being mentioned. |
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Good news indeed, may I suggest to the team to make some kind of interview while you are there or make a video of the presentation for marketing please. |
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Could you give information about private sale and What benefits are there to holders of the tokens?
I guess those who joined in private sale got bigger bonus,but thee had to invest more than in other sale phases. Yeah, that is the way it works in most cases, you need to invest a bit more in private sale, but you get a bit higher bonus as a reward.Hopefully those tokens will be locked I presume? Yeah I think those tokens will be locked, but not sure how long though. |
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Thanks for sharing it was an interesting read indeed. |
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Hello, I think VRN has a good future, what is the main function of VRN coin and what currencies are accepted to buy VRN in ICO
They accept ETH, BTC and credit cards in ICO. |
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How come you decided to use ethereum blockchain,is it going to be good and fast enough for you?
As they answered it in article a bit earlier it made much more sense, because it offers so much better environment to develop on and access to some much resources then going with Bitcoin system or developing it on your own. |
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When is mobile app suppose to come out? Is it towards the end of the year or?
Is it going to be both iOS and Android at the same time? I seriosuly doubt that will be the case,teams usually focus on 1 app first.Hopefully we will get android one first Android one would be better way to go for first one indeed as there are much more people using Android the iOS for sure. |
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I just logged in on the website. You are correct, 0.1 ETH and 0.008 BTC are the minimum purchase. Again, my bad.Thanks for your patience!
Do we have to go trough KYC in order to join the sale? Yes, you need to complete KYC to receive your tokens. It's a short process, just upload a proof of address and a proof of identity! It's a good way to make sure you are who you are. Good way for companies to make sure everything is safe. I dont know,i see KYC as just another way for goverments to be able to track us and charge us tax.I think thats behind all this KYC stuff,just another way to be tracked. But maybe im just paranoid  Companies would avoid KCY in most cases if they could.It's our countries that enforce KYC for this kind of projects to have us tracked and tax us, you are not paranoid, you are right, but we can't do nothing about it, but to accept it |
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Could you give information about private sale and What benefits are there to holders of the tokens?
Holders of the token will be able to buy 0% commission insurance products when we launch our platform. Because of our token price growth mechanism, we believe that the VRN token price will only go up after the crowdsale, so holding it will be a good long term strategy. What role does the commission actually play? It doesn't necessarily mean that prices will decrease, does it? If an insurance charges me 95X (price insurance) + 5X (price commission), it is the same as if they charge me 100X (price insurance). How can we be sure that price will decrease? The cost of the insurance policy is 100X, irrespective of whether or not there is a broker or it is directly insurer. When there is a broker the insurance company pays him a commission of approximately 5-25% from the total value of the policy. What we will do is return that percentage back to the customers in the form of VRN tokens. (Every of our future clients will be able to easily compare the price that we will offer with that of the brokers on entire equal terms (same insurance value,same product, same insurer) So we can safely say that the insurance prices for our users will decrease sensibly. Thank you for the explanation. So the main thing you do here is replace the broker and distribute those former costs as a payout to users? Why should insurers pick you over brokers if they don't benefit, too? Well if Vernam offers more incentive to users then standard insurer people will want to go through Vernam and insurer benefits if he uses Vernam because he gets more customers that way That is the way I see it. That's the way you see it and the way you see it probably makes a lot of sense. Those insurance companies going first would even have some first mover advantage. As Delboy say -There you go , you know it makes sense  It is still interesting though what the world will turn into. We have all these ideas about decentralization and zero cost solutions, but how close will we really get to these ideals everybody now has in mind? From our point of view - meaning "now"- this day it looks like a far future because of the way the world works and how people think, but that might drasticly change in a heartbeat, you just need a catalyst and all of this might be knocking on everyone's doorstep in few years. Technological breakthroughs will accelerate the process. If we have better blockchain technology with instant speed and zero fees that's when people will get excited. Also important factor will be to make all this new technology user friendly.That will ensure adoption and move it towards the mainstream and daily usage.At the moment it is still a bit too complicated for everyday regular Joe. |
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What will be the main purpose of vernam tokens?
Well when a contract between a client and an insurance provider is signed on Vernam, it will be denominated in VRN. Since there is no broker mediation, the standard broker’s commission (15–25%) will be awarded to the client in the form of VRN. The Client can choose to exchange the VRN for fiat money or to keep it and later purchase a new insurance with a significant discount.This will make Vernam the game changer who dared to digitalize the insurance market! Vernam will also be the safest and the cheapest tool to purchase insurance. |
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Where exactly is your team located,do you have some headquarters where most of the team is?
Hm...I don't think they are located all in one place? Sure, some teams work that way but it has become more common for teams to be dislocated. But still there must be a place where most of the team is. I'm not sure they can be very productive if they are all over the world. We are based in different offices around the world. It's easy to be productive and organised with today's technology! So you dont have headquarters,one main office? We have a large office in London, perhaps you could refer to this as a main office. In reality all the offices contribute together equally, ThinkCoin is a shared global project! I think this is the true key to decentralisation - working together while being apart. I have heard some bigger companies are rethinking their organization and opting for workers to work from home as it lowers the expenses, lowers injury risk and actually makes the workers happy, and it does not affect the productivity. So, if bigger companies can do it, why not small? Does anybody here work from home? I work in of those companies at the moment and indeed more and more companies are going that way.It saves a lot of money, that would be spent on working space and all that goes with it.This way you have access to much more talent also. |
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Could you give information about private sale and What benefits are there to holders of the tokens?
Holders of the token will be able to buy 0% commission insurance products when we launch our platform. Because of our token price growth mechanism, we believe that the VRN token price will only go up after the crowdsale, so holding it will be a good long term strategy. What role does the commission actually play? It doesn't necessarily mean that prices will decrease, does it? If an insurance charges me 95X (price insurance) + 5X (price commission), it is the same as if they charge me 100X (price insurance). How can we be sure that price will decrease? The cost of the insurance policy is 100X, irrespective of whether or not there is a broker or it is directly insurer. When there is a broker the insurance company pays him a commission of approximately 5-25% from the total value of the policy. What we will do is return that percentage back to the customers in the form of VRN tokens. (Every of our future clients will be able to easily compare the price that we will offer with that of the brokers on entire equal terms (same insurance value,same product, same insurer) So we can safely say that the insurance prices for our users will decrease sensibly. Thank you for the explanation. So the main thing you do here is replace the broker and distribute those former costs as a payout to users? Why should insurers pick you over brokers if they don't benefit, too? Well if Vernam offers more incentive to users then standard insurer people will want to go through Vernam and insurer benefits if he uses Vernam because he gets more customers that way That is the way I see it. That's the way you see it and the way you see it probably makes a lot of sense. Those insurance companies going first would even have some first mover advantage. As Delboy say -There you go , you know it makes sense It is still interesting though what the world will turn into. We have all these ideas about decentralization and zero cost solutions, but how close will we really get to these ideals everybody now has in mind? From our point of view - meaning "now"- this day it looks like a far future because of the way the world works and how people think, but that might drasticly change in a heartbeat, you just need a catalyst and all of this might be knocking on everyone's doorstep in few years. |
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