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1  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Shopin - The universal shopper profile on: January 27, 2018, 02:15:57 PM
Can you explain why you need 45 million dollars to do this?  ICOs are getting out of control and high caps like this just look like a cash grab for your team.

I totally agree for products and platforms. Here are things to consider about this project:

1. We're a utility token. That means tax - 21% - OUCH. In the first year. So we have to really work hard to dev in year 1
2. Highly resistant and slow moving market - retailers
3. Right now we have the core team + 8 data scientists working full time on fashion alone. We need a similar size team for each industry
4. We're innovating on the blockchain tech to allow us to run over 1MM transactions per second on Ethereum. Not easy to solve for (and we're giving this tech free to the world to enable consumer DAPPs to happen on ETH) with our partners iExec
5. This will get us 5 years to secure at least 2 major industries
6. Partnership team + marketing
7. We are not a platform where all the retailers are - that's easy. We are building product recommendation engines for all the retailers and connecting them to each user in realtime, with the users having a universal shopper profile to own and control their data, reshape the web semantically for them at point of presence both online and instore
8. We're building an ad engine on top of the profiles so that retailers no longer advertise to shoppers on FB/ Google/ ad exchanges etc. Instead they pay the user Shopin tokens to accept ads, perform acts of loyalty, rewards and referals of new shoppers
9. Then there are the consumer apps for centralized wishlists, shipping tracking and return, sharing profiles and storing and using the tokens.

WHEW!

In essence - we are reshaping the web to accept a new protocol for understanding the personalization preferences of the shopper, based on live and historic purchase data plus an system to financially reward shoppers for leveraging their data.

Hope this added some clarity!
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