This project seems great but I have a lot of concerns:
1/ You want to create a 23 000 000 $ market cap (15000btc) after the ico why such a huge market cap and from which marketcap the project will be viable and why ?
2/ No offense but could you be more professional on the picture you posted (no selfies) ?
3/ What is your skills in international laws why there is no lawyer in your core team for a such project ?
4/ Why there is no technical aspects on your whitepaper about the way you gonna create this plateform ?
5/ Why do you think etc could be better than eth ? currently the smart contract token are for most of them eth-based
6/ If the goal is not reached why do you want to burn the remaining coins instead of giving them in pro-rata to participants ? If you burn it you are creating an artificial value for the other token which will have a value without enough demand and it can lead to a huge dump when the coin will hit the market.
I am seriously thinking about investing in this project because I have imagined it the day I heard about ethereum so consider all these questions like a constructive criticism and not like fud.
Thanks for your answers
Hey B3N4,
Thank you for your questions. We were expecting and waiting on some constructive criticism.
There are no short answers to your questions. But I will address some of them more thoroughly soon on our blog.
The answers:1) At the time of writing the whitepaper the price of the BTC was between 800 to above 900$ (December 2016). As the market is very volatile, the final price of the tokens will be edited and set before the Pre-ICO an later on in ICO. Nothing is set in stone. We really want to hear the people’s wishes/concerns and react to them. And your questions are more than welcome!
The reason behind 150.000.000 NTRY market cap (more details can be found at the blog later today):
DEMAND : SUPPLY (basic economy)We fully believe in our project, it is our baby and a project of passion. We will have a minimal cap and we will have maximal cap and at the end it all depends on investors’ perception about our project.
TRANSPARENCYWe believe in transparency. No matter how much we raise, nobody is getting rich quickly because of your investment. For every Notary Platform stage mentioned in timeline the funds will be released according the completion of tasks supervised by escrow. This will also be all provided for public eyes.
MARKET SURVEYNote that before we started we have tested the potential market. We talked to many (different gender and age) and it turned out that there are a huge number of potential users.
2) It was intentional while we wanted to be different (it is a matter of taste). However, as project goes on we will improve the pictures. I cannot add anything else, except, yes, yes we can change it....and we will do it
3) That’s the thing. We can predict the first 3,5 years but our road does not end there. Note that useful products (web and app) will be available at each stage. Stage 3 is massive and we expect that a year in the stage 3 is just a minimum to see some results. As you probably know that to this date implementing AI to the field of smart contracts is a »mission unknown« and we do not really know how much funding and how much time will be needed.
4) For the needs of writing the Whitepaper and started moving forward we had an outside help from the high court when we needed it. We wanted to make sure that a timestamp on a contract (and everything attached to it) can be seen as a proof. Note, however, that this depends on the jurisdiction. But for the future, I fully agree with you, we need a lawyer; not just one, but more. In the blog post for Pre-ICO (
https://medium.com/notary-platform/pre-ico-notary-platform-token-distribution-f58cc453bda6 ), I am already talking that we need, beside the new devs, two lawyers specialized in International law.
As I told you yesterday, our aim is to prove, that digitized content, which contains all elements of the contract, can be, due to the mechanism of the distributed ledger technology, treated as an immutable transaction (i.e. immutable proof) in all of the countries and markets we want in. Of course, both parties should agree on using this way of contracting. We believe, that life (and legal laws, too) will sooner or later adopt to the technology.
5) It is intentionally written »easy«, so a majority of people can understand it. We want to make sure that the people realize that this platform will enable them to engage in contract everywhere in any time of the day, quicker, cheaper, and in all life situations. But if you want technical, we can also talk about that aspect. Just write us a question on
notary.platform@gmail.com or write a follow-up question of what you would like to know.
6) Both ETH and ETC are very similar for the time being, but their future development will (most likely) be different. ETH is main stream right now but the situation will change. We also believe in “code is law” (check the Ethereum Classic webpage). We are still discussing about this and will decide soon. Note also that some big players were already joined the ETC.
7) The dumping of the tokens could happen in many scenarios. We hope that potential investors will be long term investors and not just speculators. But we will take your proposition into consideration and discuss it. We will also check what others did in that case and how the people reacted.
I hope that I answered you questions sufficiently. If you have any follow-up questions, please ask.
regards
Saso
Hi for the registration I did register a btc wallet instead of ETC, Where or who can I contact to fix this?
Thanks!
Fixed
