Everyone is excited as usual about new ICO, but can anyone explain me in plain english what is the business case?
What is the business model?
Who are the customers?
Does anyone understand that as business model insurance is a strict statistic based business? and that for insurance to work out there has to be enough companies or private persons to pay for insurance? And on top of that the number of "issues" which has to be covered by insurance has to be pretty low considering total numbers of same insured cases?
Hi, thank for the good questions. I asked Dmitry Lazarichev to answer you. |
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Hi Still havent been accepted to your twitter campaign...  not sure whats going on. Followed the correct procedure on the 07 10 2016. I see my name on the list but no acceptance. With regards to face book... I've reposted this morning... seeing a no repost message next to my name on the list... please update accordingly thank you Hi, send me you FB & Twitter account links to check |
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Will there be any incentive to be on one of the committees?
Having people work for free rarely works well in the long run.
I am only thinking small rewards. Just enough to make sure they keep caring about the role they chose.
Perhaps small rewards for people suggesting upgrades and gets them approved by the DAO.
It would keep the Inchain DAO active and committed to improving Inchain.
It will be right to pay some additional rewards to committee members to motivate them. We already think about it. It would also reward the people activly taking part in the governance while passive token holders would still gain the benefit of a better run Inchain.
It's a good Idea. Could you pls explain how do you see it? |
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как прошло? Резюме какое-то для тех, кто не попал будет? Должна быть запись стрима. Думаю, сегодня опубликуют ссылку. Да, всем привет. Нарезаем видео для публикации |
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I am not sure about the situation at the moment but i find it hard to believe that using an Ethereum DAO will be 100% exploit proof considering its only been a few months since the last exploit in the contract was found in a 150million dollar project.
Consult an Ethereum security expert i guess.
Is there any software solution in the universe with 100% guarantee it not will be hacked? A rhetorical question. I think so. The main Inchain task for preventing a possible hack is not only development very safe smart-contract, but also know what to do if it will be hacked. |
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Why is the legal structure of this ICO being compared to the DAO?
And what gives Inchain tokens value?
Because Inchain will be run by a DAO, so having the legal framework in place will be important for investors. I didn;t realise that creating an Ethereum DAO was still possible after the DAO hack. Why? Becouse it proves that creating DAO on ethereum has vulnerabilities, Unless inchain is investing heavily in security auditing of its DAO smart contract (which i doubt will be greater than slock.it), there is a chance that someone can find exploits/hacks in the code & steal all the funds. No, Ethereum would not do another rollback if this happened to Inchain. I am not sure about the situation at the moment but i find it hard to believe that using an Ethereum DAO will be 100% exploit proof considering its only been a few months since the last exploit in the contract was found in a 150million dollar project. Consult an Ethereum security expert i guess. Of course we will audit all Inchain smart contracts using independent auditors and community. You can see it in Inchain roadmap in OP. |
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Why is the legal structure of this ICO being compared to the DAO?
And what gives Inchain tokens value?
Because Inchain will be run by a DAO, so having the legal framework in place will be important for investors. I didn;t realise that creating an Ethereum DAO was still possible after the DAO hack. Is using ethereum safe after the hack? Ethereum was never hacked. The DAO was. The Inchain DAO will require payouts to be approved by the insurance committee as I remember it. Yes, we will use special consensus when smart contract only can initiate payout but it requires an approvement from insurance committee to be executed. Insurance committee includes Inchain DAO delegates designated by DAO voting. |
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Why is the legal structure of this ICO being compared to the DAO?
And what gives Inchain tokens value?
Because Inchain will be run by a DAO, so having the legal framework in place will be important for investors. I didn;t realise that creating an Ethereum DAO was still possible after the DAO hack. Is using ethereum safe after the hack? Some people think there was no hack, just bad smart contract. Right, just read: http://hackingdistributed.com/2016/06/18/analysis-of-the-dao-exploit/ |
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Why is the legal structure of this ICO being compared to the DAO?
And what gives Inchain tokens value?
Because Inchain will be run by a DAO, so having the legal framework in place will be important for investors. I didn;t realise that creating an Ethereum DAO was still possible after the DAO hack. Is using ethereum safe after the hack? I think yes, because there was a bug in the smart contract, not in the Ethereum: http://hackingdistributed.com/2016/06/18/analysis-of-the-dao-exploit/ |
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Why is the legal structure of this ICO being compared to the DAO?
And what gives Inchain tokens value?
Because Inchain will be run by a DAO, so having the legal framework in place will be important for investors. I didn;t realise that creating an Ethereum DAO was still possible after the DAO hack. Why? |
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Why is the legal structure of this ICO being compared to the DAO?
And what gives Inchain tokens value?
Because Inchain will be run by a DAO, so having the legal framework in place will be important for investors. Sure, Inchain token holders are those who manage the Inchain key decisions. Decisions managed by Inchain token holders through voting: - Investment strategy of the Inchain insurance fund
- ROI distribution including dividends to token holders
- The election of the Insurance Committee
- The election of the Investment Committee
- Updating the Inchain smart-contracts
- The insurance cases confirmation
- Management of the Inchain insurance/investment model
- Management of the Inchain rating model
- Management of the Inchain insurance fund e.g. money transfer
- Management of the Inchain Oracles (adding/deleting a sources and the oracle for it)
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can i participate this ico with any fiat currency,like usd?
thanks
Unfortunately nope. Only BTC & ETH will be acceptable then I suggest to implement the other payment sources also. didn't you see how much ICNOMI got from fiat deposits?? people out of bitcoin also can join if you allow them to use more source to invest. just a suggestion. So, I will ask our escrow how to manage fiat investments. |
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Will you cancel the ico if you can't complete this legal problem? Many people have already joint the campaigns, so don't give the project up. I'm sure we will find the decision. |
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how does this coin gain value?
A token's start cost will be determined as [investments]/[85M] directly after ICO ends, because: "The total tokens supply stands at 100 million. 15 million tokens are reserved for bounties and the development team in the following proportions: - 1 million tokens will be distributed to early supporters. Please check additional details below. - 5 million tokens are reserved for strategic partners and backers. - 9 million tokens are withheld by the development team. The remaining 85 million tokens will be distributed in the ICO procedure to participating users based on their contribution in the total amount of the funds raised. The sale procedure will be taking place at http://ico.inchain.io" When the token will be listed on exchanges, it cost will depend on how successfully Inchain team works. I think so. |
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