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Author Topic: TEU – the shipping crypto currency - bounty announced  (Read 9438 times)
freightjoe
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September 01, 2017, 02:55:00 PM
 #121

Almost a month ago I asked whether you actually had anyone willing to commit to this, as otherwise no-one will use the TEU and it will not be worth anything, and you responded basically a "not yet, but it will happen soon":

We published the Whitepaper on Tuesday and have since started scheduling calls and meetings with shipping liners, NVOs and BCOs.

No industry participants have confirmed adopting TEU tokens yet. But I could say that response has been overwhelmingly positive in just 6 days after the world knows of our plan. There are already one of the top six liners contacted us and expressed their supports for what we try to achieve. Another meeting has been scheduled with a large liner's CEO tomorrow. In the US, we have contacted some large BCOs. The positive sign is that few of those large BCOs that we have contacted have open their first digital wallets last week. For the NVOs, we send out email to the main people of the top three players. One's CIO has proactively reached out to me to inform me that they are highly interested and that they will be host a phone conference with me when you are done with their internal review. Another NVO's manager has opened his first digital wallet and bought some Ether.
              

What has happened - do you now have carriers who will tell us they commit to firmly using this? And when will they be offering it?

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johnsonleung
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September 01, 2017, 03:14:34 PM
 #122

Almost a month ago I asked whether you actually had anyone willing to commit to this, as otherwise no-one will use the TEU and it will not be worth anything, and you responded basically a "not yet, but it will happen soon":

We have secured interests from the industry to participate in our system development i.e. the process mapping and concept test. Will be more to come and we will provide names in due course. 
freightjoe
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September 01, 2017, 03:28:34 PM
 #123

Almost a month ago I asked whether you actually had anyone willing to commit to this, as otherwise no-one will use the TEU and it will not be worth anything, and you responded basically a "not yet, but it will happen soon":

We have secured interests from the industry to participate in our system development i.e. the process mapping and concept test. Will be more to come and we will provide names in due course. 

It is easy to say you have interest, but without having shipping lines come out and say they are going to do it, it means very little.

Also, you have 187 ETH in your pre-ICO, but you have targeted a cap of 14.000 ETH. Half the time is gone and you only have 1% of the investment. How is it possible to pull the commitment back now?
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September 01, 2017, 08:03:52 PM
 #124


Dear freightjoe-the-hardcore-fan-of-TEU-token,

I would like to thank your most active participation in this thread. Each of the comments are essential and with substance. As you follow us so closely, you must have noticed that we didn't respond to some skeptical comments which lacked of substance. You clearly pointed out a lot of Key Performance Indicators (KPIs) we are observing. We therefore have responded every single comment you wrote on this thread. I really appreciate someone like you digging into our project so in-depth which really helps other devs who may not have sufficient time to read through our material.

One important point I want to make is that valuation of TEU will be lowest in the pre-ICO stage. If any of the KPIs, like number of liners signing up or ether raised or VC fund poured in, materializes, the valuation of TEU will just go up. You may argue that none of those KPIs will materialize. If you think so, please do not buy TEU token. I am confident that all those KPIs will happen but just a matter of when. I am worrying about your heart will be broken when TEU valuation goes up day-by-day.

We continue welcoming your comments. Have a good weekend.

Regards





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G.Butrik
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September 02, 2017, 01:49:03 PM
 #125


Bounty Statistics:

Google Spreadsheet

Some applicants have not yet fulfilled the requirement of the bounty program and therefore their application is not yet valid.



Dear Devs!

Please, give us THE SPREADSHEETS OF PARTICIPANTS (not Statistic Sheets)
Otherwise - how can we know that we are in?

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September 03, 2017, 05:03:43 PM
 #126

Wow. Massive pain point confirmed. Game theory participation of players very probable (Give free to shippers, honest ones will use, gain trust/ prioritise those who use, ecosystem of token grows). Clear line of sight to spread of token. Smart moves by clearly experienced players. Revolutionizing one big corner of the world. When is transport by sea ever going away?
Welcome to Singapore Mr Leung and Mr Lee. I feel tingly looking over your project every time. Oozing with authenticity and potential. Was just waiting for some sign that pre-ICO is the cheapest point to enter before I did. Thanks for this.


Dear freightjoe-the-hardcore-fan-of-TEU-token,

(........)

One important point I want to make is that valuation of TEU will be lowest in the pre-ICO stage.
(..........)






I hope this also means ICO will be released at higher price taking into account price of ETH at that time?
I wish you every success with this.
Two points- hackers and first mover.

TEU Pre-ICO: 16-Aug – 20-Sep-2017
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September 04, 2017, 08:24:34 AM
 #127

Due to privacy, I will not list all the participants enrolled in the bounty program. For those who haven't fulfilled the requirement, individual email has been sent for those who failed in fulfilling the bounty requirement. If you don't receive email, it means your are enrolled. Thanks.

TEU - the crypto currency that propels ships
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September 05, 2017, 10:35:01 AM
 #128


Regulatory News on ICO:

https://www.bloomberg.com/news/articles/2017-09-04/china-central-bank-says-initial-coin-offerings-are-illegal
http://www.miit.gov.cn/n1146290/n4388791/c5781140/content.html

http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=17PR117

TEU token is not securities nor CIS in Hong Kong. The jurisdiction we are operating is under Hong Kong instead of mainland China where HK is a special administrative region of China. The legal system is independent from China.

In terms of regulatory compliance, we have explicit clause in T&C as follows which disallow contributors from contributing if law prohibits them.

Quote
By accepting these terms, you represent and warrant to the Company as follows:

you are not a citizen or resident of any jurisdiction in which the Contribution, receipt and holding of TEU tokens is prohibited, restricted, curtailed, hindered, impaired or otherwise adversely affected by any applicable law, regulation or rule;

Unqoute





TEU - the crypto currency that propels ships
pendekar cinta
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September 05, 2017, 10:44:55 AM
 #129

I feel this project is very interesting starting from the concept made has shown a great desire to be able to satisfy the participants hopefully with this huge expenditure can create a better condition later after ico ended and can quickly appear in dev.

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September 05, 2017, 10:52:11 AM
 #130

The coins are now illegal in China - and China is where most containers in the world is shipped, isn't this a big problem?


Regulatory News on ICO:

https://www.bloomberg.com/news/articles/2017-09-04/china-central-bank-says-initial-coin-offerings-are-illegal
http://www.miit.gov.cn/n1146290/n4388791/c5781140/content.html

http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=17PR117

TEU token is not securities nor CIS in Hong Kong. The jurisdiction we are operating is under Hong Kong instead of mainland China where HK is a special administrative region of China. The legal system is independent from China.

In terms of regulatory compliance, we have explicit clause in T&C as follows which disallow contributors from contributing if law prohibits them.

Quote
By accepting these terms, you represent and warrant to the Company as follows:

you are not a citizen or resident of any jurisdiction in which the Contribution, receipt and holding of TEU tokens is prohibited, restricted, curtailed, hindered, impaired or otherwise adversely affected by any applicable law, regulation or rule;

Unqoute





litcoi
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September 05, 2017, 02:14:52 PM
 #131

1. Even if the TEU tokens can be used by operators in China, they may have difficulties selling/buying on the secondary market since exchanges are now prohibited from dealing with them, am I right?

2. Will there be confusion when people use "TEU" to refer to the coin as well as the container capacity?

3. Is it possible that the shipping industry itself will support your ICO sale since if everyone chips in a bit for the "capital injection", the ship can set sail easier, so to speak? Will you then consider suggesting that they buy some low priced TEU "coupons" for use as deposit?

4. Even if the TEU token is low-priced, maybe it can serve as a signal of trustworthiness, since the record of faith-keeping/promise-breaking will be in the blockchain. Are you highlighting this?

5. Who are your code developers?

6. You mentioned, I think, VC funding. Will it be better to get them to buy the token instead of fiat injection?

7. Please share with us new info/insights/updates from your Singapore conference.

All the best and hoping to hear from you soon.

TEU Pre-ICO: 16-Aug – 20-Sep-2017
litcoi
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September 05, 2017, 02:36:46 PM
 #132

The coins are now illegal in China - and China is where most containers in the world is shipped, isn't this a big problem?


From the linked announcement, you can see that tokens are banned if they count as "securities", ie, "shares", "debentures" or "collective investment schemes".

http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=17PR117

Where digital tokens offered in an ICO represent equity or ownership interests in a corporation, these tokens may be regarded as “shares”. For example, token holders may be given shareholders’ rights, such as the right to receive dividends and the right to participate in the distribution of the corporation’s surplus assets upon winding up.
Where digital tokens are used to create or to acknowledge a debt or liability owed by the issuer, they may be considered as a “debenture”. For example, an issuer may repay token holders the principal of their investment on a fixed date or upon redemption, with interest paid to token holders.
If token proceeds are managed collectively by the ICO scheme operator to invest in projects with an aim to enable token holders to participate in a share of the returns provided by the project, the digital tokens may be regarded as an interest in a “collective investment scheme” (CIS)2.
Shares, debentures and interests in a CIS are all regarded as “securities”.

CIS is further elaborated on as:

2 A “collective investment scheme” (as defined in Schedule 1 to the SFO) generally has four elements: it must involve an arrangement in respect of property; participants do not have day-to-day control over the management of the property; the property is managed as a whole by or on behalf of the person operating the arrangements, and/or the contributions of the participants and the profits or income from which payments are made to them are pooled; and the purpose or effect of the arrangement is for participants to participate in or receive profits, income or other returns from the acquisition or management of the property.

The closest is CIS but I'm not a lawyer.

Note that the regulators also added :" 1 A virtual commodity itself is not a “security”."

TEU Pre-ICO: 16-Aug – 20-Sep-2017
litcoi
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September 05, 2017, 03:04:18 PM
 #133

Is there a way to sticky the Ox contribution address here (and elsewhere) so that it can be checked against your website in case the address was hacked/amended a la CoinDash?

https://www.bleepingcomputer.com/news/security/hacker-steals-7-million-worth-of-ethereum-from-coindash-platform/

TEU Pre-ICO: 16-Aug – 20-Sep-2017
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September 05, 2017, 04:34:19 PM
 #134

(............)
Here is the list of useless ICOs about logistics and transportation:[/b]
https://immla.io/
http://trafficx.org/
https://www.slogn.net/
https://ico.a2b.direct/
https://www.slogn.net/

(..............)

Seeing this list made me interested. I was wondering if anyone had done anything similar. Not just for shipping but maybe other industries. My guess is the pain/ hole in the container booking industry is the biggest worldwide. TEU is focused on exactly this. Great.

These are just some of my own opinions on the above "contenders".

https://immla.io/
Whitepaper full of unprofessional typos and grammar mistakes. Even if we go beyond the basic technical defects, the concept belongs to "blockchain everything in sight".

https://www.slogn.net/
Whitepaper ver 12? Hosted on github? So that no one will read it? Super ambitious project to blockchain the whole logistics system. Even if so, it's not the same area as TEU.

https://ico.a2b.direct/
Whitepaper has different font sizes, indents, language errors, again unprofessional. Worse than a high school word processed project. Jumps straight into why you should buy the token, and "... finally how to withdraw the invested money if your interest in partnership with us has dried up." Did they mean after you have dried up? Cheesy "The future of freight transportation and logistics"? I hope not!

(bonus)
https://blockfreight.com/whitepaper/
The most professional looking. With pictures too. Again, very ambitious- with a bite off more than can be chewed feel. "Blockchain everything in sight". Too bad this is probably what Microsoft and Maersk are doing now.

Thank you for bringing these up and naming them useless. They don't really compare well though.







TEU Pre-ICO: 16-Aug – 20-Sep-2017
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September 05, 2017, 04:56:01 PM
 #135

One thing I feel the founders can't do is blow on their own horns too much. Since I'm on a roll and was about to do this anyway, let me do some due diligence for you lazybums.

Mr Johnson Leung:
http://www.cslexp.com/maersk-may-report-losses-predicts-jefferies-group/
https://finance.yahoo.com/news/maersks-p3-alliance-wins-u-011432895.html
https://maritime.knect365.com/shipping2030-asia/speakers/johnson-leung

BTW this isn't some Ripoff conference, you pay this amount to attend:
https://maritime.knect365.com/shipping2030-asia/purchase/select-package

Mr Jonathan Lee:
https://www.linkedin.com/in/jonathan-lee-92b158 (500+ connections)

Found this while searching:
https://coins.best/ico-reviews/300cubits/

To me, one thing that the previous "contending" coins lacked was what I call reputational capital. The founders/ developers were unknown/ untraceable. Even the bios read suspicious- no hard data points to double-check etc. (Some like to include unrelated interests/skills- check out Qtum founder being Rubik's cube champion)

If you can't see this, *shrug*.

TEU Pre-ICO: 16-Aug – 20-Sep-2017
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September 05, 2017, 06:10:06 PM
 #136

Yes reputational capital is important and 300cubits has plenty of it.

If you need more infos about Mr Leung here it is:
https://www.youtube.com/watch?v=pUqIh0_7Gg8 2012
https://www.youtube.com/watch?v=01Wjl5wbYJw 2011

And for mr Lee he doesn't face press in his job so it's harder to find something about him and is pretty common name but his linkedin profile is just "wow"

It's quite clear they are not here to scam people. He is already famous in shipping industry, probably he can change whenever he wants to work for this company or that company.
The White paper is nice and clear. as far as i know usually icos don't have any idea about legal issues but 300cubits looks like is really prepared on this.  Look at "terms and conditions about owning a TEU token" they are professionals.

I'm sure great news will come after pre-sale. i feel sorry for who didn't believe in them but i'm ok with that more tokens for us. Grin
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September 05, 2017, 10:36:51 PM
 #137

Seems that users Raffozor and Litcoi are simply spoofed accounts (both are new) that have been made by the founders to promote themselves -  or by early ICO buyers who are now becoming very worried as the sale uptake on the ICO has stalled at a very low level
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September 06, 2017, 12:08:51 AM
 #138


Official registration record from the Hong Kong Monetary Authority of founder LEE Ho Hing:

http://apps.hkma.gov.hk/eng/index.php?c=search&m=search_by_name&regid=AB4583
click the "Registration History" tab



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September 06, 2017, 02:20:38 AM
 #139


Maritime CIO Forum
Singapore - 4 October 2017


The Panel: Using Blockchain to Streamline Trade and Transport
Johnson will be a panelist.

https://www.singapore.thedigitalship.com/register/:

FREE                      Ship owners / operators / managers / builders*
EUR495                 Early bird (until 8 September) non-shipping company charge
EUR595                 Non-shipping company standard delegate charge



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September 06, 2017, 06:21:40 AM
 #140

Seems that users Raffozor and Litcoi are simply spoofed accounts (both are new) that have been made by the founders to promote themselves -  or by early ICO buyers who are now becoming very worried as the sale uptake on the ICO has stalled at a very low level

well believe it or not i'm real and i'm not worried at all about the low contributions. the same is for you, you written 13 posts only on this topic. why are you so motivated to show people how they will scam us or why will miserably fail their project? there are countless amount of icos that need your services as a anti-fraud ico officer around here but you choose only this one. why?
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