Token Info & EconomicsToken Issuer
KARUS PMBC LIMITED
Initial token valuation
32,500,000
Max token supply
500,000,000
Initial supply
325,000,000
IEO price
0.1
Token type
ERC20
Token distribution date
29 Oct 2019
Token exchange listing date (planned)
29 Nov 2019
Coin Usage and Ecosystem
The KRS token will be the sole means of paying for services on the Karuschain platform. KRS will be used by platform participants to settle fees related to the onboarding of new organisations. KRS will also be used by all participants to settle the monthly Karuschain platform access fee. The platform access fee will be set at a minimum monthly fee that will increase on a progressive basis based on an organisation’s amount of channel volume.
Token Allocation
Public Token Sale (65%)
Operations (20%)
Reserve (10%)
Team (5%)
Use of Funds
45% Development
25% Business Development
10% Legal
10% Hardware Integration
10% Operations
Partnerships
MineRP
TeamRichard Verkley -CEO & FounderRichard is Chairman and founder of Karuschain. As a serial entrepreneur, visionary and businessman, he has decades of experience in bringing large scale commercial ventures to market. His motto: ‘hire the best talent and it will pay huge dividends in the long run’
James McDowell -COOJames has over 12 years operations and finance experience working for major investment banks, such as JP Morgan, and most recently spent the last 7 years running the commercial side of a fintech startup at one of the world’s largest exchanges, Intercontinental Exchange (ICE), which also owns NYSE and Bakkt.
Robert van der Zalm -CFORobert has 28 years’ finance management experience in Consumer Products, Speciality Chemicals, Agricultural, Downstream Oil and Gas as well as Metals Sectors. Robert was former CFO of BHP Billiton, Shell's Gas & Power Trading Business, and Noble Group.
Bruce Wilkinson -VP of Program Management and Chief of StaffBruce Wilkinson, MBA, PMP is an experienced Business Strategist/Project Manager who specializes in leading technology-focused enterprise initiatives and project teams from inception through to completion. Bruce brings a wealth of expertise in a range of industries to bear on each project he tackles.
Ian Bessarabia -Country Manager for South AfricaHe holds a B.Com from the University of South Africa and recently obtained his Blockchain Corda Developer certification from R3. A sought-after international blockchain and crypto speaker, Ian has spoken and participated in conferences around the world. Recently invited to become a partner at Effect.Ai where Ian performs the role of South African based representative for a team of individuals who are working on creating a ‘marketplace’ which is committed to being an open, accessible and affordable platform for smart algorithms to operate.
Nicky Lawlor -Account ManagerNicky’s career to date spans organisations from start-up to SMEs, a European Institutionand a FTSE 100 multinational. She has extensive experience in a corporate environmentwith a global remit.
Notable Advisors and InvestorsPer JirstrandIs an experienced entrepreneur, having recently built Block5 Ventures which is a blockchain advisory company based in New York. Prior to that, he built two mobile tech companies and have 12 years management consulting experience from Deloitte.
Stanislav SynkoArchitect of award-winning blockchain systems, with a focus on Hyperledger and smart contacts. Stan has expertise in secure multiple signature solutions and has conducted seminars at Harvard and Rutgers Business School.
Marc X. EllulIs Managing Partner of Ellul & Co. and head of the fintech team. He is Chairman of the Gibraltar Finance Centre Council, and has been instrumental in advising on policy and legislation on the set-up of regulated cryptocurrency, token sale (ICOs) and on the establishment of digital asset investment funds.
Professor Jim PorterServes as an Adjunct Professor at the Centre for Mechanised Mining Systems at Wits University and Chairman of Tarrill Trading. Jim brings with him over thirty-nine years experience in operation, project management and consulting in the mining industry.
David PieriniDavid has legal experience with Silicon Valley early-stage startups and served as the compliance project counsel for OnRamp Systems a financial tech startup affiliated with Cisco Systems and IBM Watson. David focuses on the intersection of legal and regulatory systems with the development of blockchain systems and smart contracts.
Luciano PesciLuciano is an economist, data scientist, and futurist. Professor Luciano is the founder and CEO of Emperitas, a business intelligence solution that combines data science with agile research and economic modelling.
Team StoryThe idea for Karuschain first came about in 2008 during the recession whereby a lot of people who’d bought into unallocated metals or paper metals experienced huge losses. Gold, silver bars and coins unbeknownst to investors had been hypothecated, traded or lent and therefore those who thought they owned something discovered their investments were in actual fact being shared between numerous people. This ultimately resulted in receivers being called in and innocent people losing their money.
To make sure this didn’t happen again, Richard Verkley, CEO of Karuschain assembled a group of incredible industry professionals; former CFOs, major mining and concession operators, engineers and some of the brightest and smartest blockchain people. With their expertise we developed a blockchain solution for the metals and mining industry that will track gold and other precious metals from provenance all the way through the supply chain, from the mining to refiners, and to the trading process of precious metals, through buyers and brokers until it reaches the consumer.
The reason being is to empower buyers so they can track the provenance of where their gold and other precious metals comes from, and have the transparency and trusted data to understand for example, who owns it, irrespective of whether that is a piece of jewelry or a gold bar, and know it’s true source.
Since then the idea has escalated further in terms of really protecting the environment and protecting people who were brought in through slave labour.
To this day there are many countries where the precious metals themselves haven’t been honestly mined, therefore it’s our job is to clean up the industry, change the way the world thinks, and use the modern technology of blockchain to achieve that.
Karuschain’s ethos revolves around doing it right!
Business Model
Product & Problem Karuschain Solves
Using an ERC-20 token and Hyperledger blockchain technology, Karuschain provides the answer to responsible precious metals mining; solving mining’s biggest problems of transparency, compliance and efficiency to market.
Addressable Market
The entire metals and mining industry, which is around a $680 billion Industry! If you simply look at gold, platinum and silver, it is a $180 billion industry based on global supply and demand data. Of that, the serviceable available market is $72 billion, and $21.6 billion for Karuschain’s serviceable obtainable market based on 2018’s market data. While the precious metals market has reached a clear steady-state, there is still year-over-year growth so using the trend in markets over the last 5 years as a model for the next 5 years, Karuschain’s serviceable obtainable market will grow to $24.8BN by 2023.
Target Market
As Karuschain will be involved in each step of the supply chain, as depicted below from exploration to the end user, our clients will be miners, refiners, trading houses who require reliable and trustworthy data, governments and all firms wanting to purchase responsibly mined minerals where the source is verified. Think of a piece of jewellery, and being able to track where that was mined, using what practices, what kind of labour was involved, and allowing you to make an informed decision to buy jewellery produced from responsible mining. Our partnership with MineRP allows us to secure miner’s data and make this a reality as we will create that trusted source of data, from provenance.
Participation Fees
To participate in the Karuschain, permissioned blockchain participants will have to pay ecosystem fees in the form of Karus tokens (KRS). The proceeds will be used for infrastructure maintenance, platform development, and business administration. For this purpose, Karuschain will distribute an ERC20 token (KRS) in proportion to contributions made during the offering period. KRS tokens are required for every participant organisation’s initial onboarding / setup into the platform ecosystem. KRS tokens will also be charged as a monthly fee to operate on the platform on a tiered basis determined by an organisation’s channel volume.
Media MentionsMedium Blockchain in Mining; the Enemy of Child Labor:
https://medium.com/@karuschain/blockchain-in-mining-the-enemy-of-child-labor-c0926467d5fMedium 3 Ways Karuschain is Revolutionizing the Precious Metals Mining Industry:
https://medium.com/@karuschain/3-ways-karuschain-is-revolutionizing-the-precious-metals-mining-industry-866403a3b00fMedium What is Clean Mining?:
https://medium.com/@karuschain/what-is-clean-mining-915a7f0e5e7bPRNEWSWIRE Karuschain Announces Open Applications for Blockchain:
https://www.prnewswire.co.uk/news-releases/karuschain-announces-open-applications-for-blockchain-beta-testers-among-precious-metals-mining-companies-811378951.htmlI'm Mining Mining Software Major Minerp Partners Karuschain Blockchain Platform:
https://im-mining.com/2019/09/26/mining-software-major-minerp-partners-karuschain-blockchain-platform/Roadmap 2018
• Development of Product Roadmap
• Phase 1 Live Demo Released
• Robert van der Zalm hired as CFO (28+ years in FInance management having worked as CFO of BHP, Shell's Gas & Power Trading Business, and Noble Group)
• Jame McDowell is hired as COO (Experience running operations at JP Morgan and one of the largest global exchanges ICE)
• Private Sale Completed
Q1 2019
• Luciano Pesci hired as an advisor (Luciano is an economist and data scientist. He’s the founder and CEO of Emperitas, a business intelligence firm)
Q2 2019
• Jim Porter is added as an advisor (40 yrs mining experience, Past President of the Southern African Institute of Mining and Metallurgy)
• Per Jirstrand is added as an advisor Founder and CEO at Block5 Ventures, a blockchain advisory and strategy firm in New York)
• Hank Amons is added as an advisor (Former senior partner at White & Case, one of the largest global law firms)
Q3 2019
• ProBit IEO goes Live (Token sale sells out)
• LATOKEN IEO goes Live (October/November)
• Phase 2 of Live Demo Released
• Beta campaign is launched (Worldwide launch inviting mining companies to test the Karuschain platform in their systems)
Q4 2019
• Karuschain Platform Development Begins
• Proof of Concept Partnership Announced
• KRS Tokens are listed on ProBit and LATOKEN
Q1 2020
• Client onsite PoC begins
Q2- Q3 2020
• Onsite PoC completed
Q3-Q4 2020
• Graphical User Interface (GUI) continues to evolve based on client’s preferences
• API Integration and Custom Smart Contracts
• R&D, Hiring, and Development Continues into 2021
