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Author Topic: 📢 [ANN] [BFD TOKEN] Blockchain Technology Research Innovations Corporation  (Read 364 times)
BTRIC
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The Decentralization Revolution is upon us!


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January 08, 2018, 06:19:17 PM
Merited by BenOnceAgain (1)
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Blockchain Technology Research Innovations Corporation
The Decentralization Revolution is upon us!


Organization Launch Plan, including
BTRIC Founding Donor Token (BFD) Fundraising Campaign


We are very pleased to announce our launch and BFD Token fundraising campaign.  Please check out our website and white paper for more information.  Through business incubation and other initiatives, we're going to work broadly with the community to Decentralize the World!  Our Executive Director, Benjamin F. Beideman, is BenOnceAgain on this forum.  Our full contact information is on our website and at the bottom of this announcement.

Do you work in the field?  We're recruiting for our team and leadership.  PM us or contact team@btric.org if you are interested in joining our team.



Our Mission
Blockchain Technology Research Innovations Corporation (BTRIC) is a 501(c)(3) economic development organization that is devoted to fostering emerging technologies, through business incubation and other initiatives, that decentralize the control structures that have entrenched global systems for centuries.

Through our business incubation program, we identify, foster, research and develop projects that leverage emerging technologies to create a better world.  We infuse these projects with best-practices guidance and work with all stakeholders – innovators, engineers, advisors, marketers, partner organizations, and donors – to bring next-generation, so-called “Internet 3.0”, projects to life.  When a project has completed the incubation process, it separates from BTRIC and becomes an independent business, ready for investment, growth, and prepared to shatter paradigms.

Our other initiatives focus on promoting women and diversity in projects, standardizing regulatory compliance, and facilitating the development of standards that promote the common good of all projects in our space.  Our work is released under open licenses, and we invite participation from anyone interested in governance or any other aspect of our work.  Our finances, policies, procedures, and activities are fully transparent.

Contributions to BTRIC – monetary, asset, and in-kind – may be tax-deductible to the extent permitted by law. Consult with a qualified tax advisor for more information.



Executive Summary
The world is just beginning to realize the potential of so-called “Internet 3.0” emerging technologies.  These technologies, which include consensus-based distributed ledger (DLT), cryptocurrencies and tokens, Internet of Things (IoT), Artificial Intelligence (AI), Machine Learning (ML), Deep Learning (DL), Augmented and Virtual Reality (AR/VR), Content Creator Control (CCC), and Personal Data Store (PDS) hold great promise and a real potential to reshape business and society.  The paradigm-shift we are just now beginning to enter, the Decentralization Revolution, holds the promise of dismantling structures of power and control, some of which have existed for centuries.  This circumstance presents an enormous opportunity to bring about change to the very fabric and structure of modern society, and, further, to modernize parts of the world that has not been practicable to implement at scale until now.

While this opportunity is vast, it is not without its challenges.  While funding of emerging technology business ventures through Initial Coin or Token Offerings (ICO/ITO) is a growing form of fundraising, many serious issues have emerged about the quality of projects that have made offerings.  Without a doubt, there are model examples of well-run projects that have successfully, and in compliance with all applicable laws, raised funds through these offerings.  On the other hand, there have been a number of projects that have been shown to lack one or more components necessary for the successful implementation of viable businesses.  There has been instances of alleged fraud and material misrepresentations made concerning some offerings, funds stolen or misappropriated, and legal actions by regulators and investors.  Finally, and crucially, delivering on an ICO – more than just raising funds, but delivering the final project – requires a team with expertise in diverse areas.  Assembling, maintaining, and focusing the efforts of such a team can be expensive, time consuming, and difficult for those who are traditional innovators (i.e. people with great ideas and/or coding skills to bring those ideas to fruition).

In August of 2017, Blockchain Technology Research Innovations Corporation (BTRIC, pronounced like “bit trick”), incorporated as a non-profit economic development organization to meet these challenges and deliver real value to stakeholders in the emerging technology community, from innovators to funders, as an economic development organization focused on fostering promising projects that leverage emerging technologies.  Many economic development organizations are geographically based, boosting the economies of a community, state, or country.  BTRIC is a global organization and invites projects that will advance free market economies worldwide.

We will forge partnerships with leaders in the community to participate in advancing projects that we are incubating, either as donors, engineers, advisors, or other parts of the project team.  Without micromanaging, we will provide much needed structure and oversight to ensure that projects meet their milestones, adopt best practices, overcome challenges, and ship projects.

When a project has completed the incubation process, it will be separated from BTRIC and spun-off as an investment grade independent business, ready to launch. It will meet all legal and regulatory standards applicable to the field of the project (i.e. a food testing project will meet applicable food handling regulations), as well as any investment model it is pursuing (such as VC, angel investment, crowdfunding, or SEC requirements).  It will be poised for growth.  Subject to any limitations of the chosen jurisdiction, funding model, and regulatory environment, donors who supported the project will be rewarded by the spun-off entity (typically ensured through appropriate covenants in its founding documents).  Those partners and people who worked on the project will be in a prime position to continue their relationship with the new entity, and the donors who helped incubate the separate entity could be investors (if permitted by applicable law).



Opportunity for donors and business partners
Because we are a non-profit organization focused on economic development, people and businesses that contribute to our fundraiser are "donors", not "investors".  This is an important legal distinction.  However, while being a non-profit organization, we still offer ongoing benefits to those that donate to our organization as "BFD Token" holders.

The opportunity for persons and businesses to become involved in BTRIC, as donors, projects, engineers, marketing professionals, advisors, and others is outstanding.  BTRIC’s objective is to make promising ideas into startup businesses as well as promote larger initiatives that benefit the entire ecosystem of emerging technology businesses, and through the support of donors, including asset and in-kind donations, we will make that a reality.  Our organization is intended to complement the existing ecosystem by serving as a middle-point between projects with potential, and organizations that help those projects raise operational funds.  All parties that work with BTRIC will be impressed with the work that we do to enable great outcomes for projects and the ecosystem as a whole.

BTRIC is conducting a fundraising campaign that we’re calling an Initial Donor Offering (IDO), to raise the funds needed for our launch and 2018 operations.  We are highly motivated to get up and running quickly as indicated in our launch milestone chart.  Now is the time to build a solid non-profit business incubator that will foster projects through their development phase and into viable, investment-grade businesses.

Donors to BTRIC’s IDO will receive at least one BTRIC Founding Donor Token (BFD) for each dollar (USD) that they contribute (up to the fundraising target).  At the time we launch our platform, everyone that then possesses BFD tokens will receive a free grant of a new token or cryptocurrency (working name BTRIC Coin) described in our white paper.   Donors, and the public, will be able to contribute BTRIC Coin to the projects of their choosing, and in this way, they can play a real and important role in advancing the development of individual projects, while also keeping BTRIC operating as an organization.

We are excited to participate in accelerating the Decentralization Revolution – the transfer of power and control from the few at the top, to the many distributed throughout the world, enabling the shortening and broadening of the capitalist pyramid.  Together with our donors, projects, and the partners we work with, we will reinvent business models, and build and launch viable businesses.  Ultimately, society as a whole will benefit, with a world that is more transparent, more balanced, and with fairer distribution of wealth.

We look forward to working with you to make a real difference in this viable, very needed, and long-overdue paradigm-shift.




BTRIC Founding Donor Token (BFD) fundraising campaign
To launch BTRIC, we are conducting a fundraising campaign with a special-purpose token given to those who contribute to our fundraising drive.  This token, called “BTRIC Founding Donor Token” (BFD) will be given at a 1:1 ratio based on the USD value of donations contributed toward the campaign.  There is a fixed amount of tokens that have been created, and all tokens will be distributed at the end of the fundraising campaign.  If we do not reach our target, all remaining tokens will be distributed pro-rata.  If we reach our target early, the fundraising campaign will end.

As made clear throughout this announcement, our BFD fundraising campaign is not an offering to invest in a business.  It is a donation to a non-profit organization.  We plan on doing great things, providing real benefit and economic value to our projects, our partners, and the ecosystem in advancing the Decentralization Revolution.  The BFD fundraising campaign allows us to get to work and hit the ground running in doing that!




Ongoing benefits for BFD Token holders
In addition to being listed as a Founding Donor on our website and in our promotional materials (if you choose), BFD Token holders receive ongoing benefits.

An important benefit for holders of BFD Tokens is that they will be rewarded in some form by each project that completes the BTRIC Project Incubation Program.  For example, when we issue the “BTRIC Coin” (working name) token or cryptocurrency in the second quarter of 2018, all those holding BFD Tokens at the time/date of a “snapshot” (to be announced in advance) will receive a grant of BTRIC Coin.  You can read more about that in our white paper.

However, this is not limited to the issuance of our “BTRIC Coin”.  Every project that completes incubation and is divested from BTRIC as a separate business will have a publicized “snapshot” date/time.  All BFD Token holders as of that time/date will receive some benefit from the business that graduated from the incubation program as a separate business.  In this way, you are rewarded by every project that completes the Project Incubation Program for being among the first to support our organization.  One of the conditions for acceptance into BTRIC’s Project Incubation Program is that the project agrees to provide some reward or benefit to donors to their project, which specifically includes all BTRIC Founding Donors.

Because the projects vary in their business models, and will also vary in the jurisdictions they do business in, this reward will vary from project to project.  It could include (subject to applicable regulatory and legal requirements):
   • Credits for use of their product or service;
   • Free “not-for-resale” products;
   • “Airdrop” coins or tokens;
   • Buyback of coins or tokens; and/or
   • Equity in the newly-created business.

By getting on board now as a BTRIC Founding Donor, you will receive benefits from each project that completes the BTRIC Project Incubation Program for as long as you continue to hold BFD Token.  If you transfer your BFD Token, the benefits will be given to holders of BFD Token as of the next “snapshot” time/date.


How to donate to the BFD fundraising campaign
BTRIC will give each Founding Donor one (1) BFD token for each USD donated through the IDO fundraising campaign process.  The fundraising campaign will begin on January 1, 2018 and end on or before February 15, 2018.  If the fundraising target is met sooner, the campaign will end.  If the target is not met, the excess BFD will be distributed pro-rata.

Donations to the BFD Token fundraising campaign can be made as follows:

   • On our website, a checkout process is available for donations, at https://www.btric.org.  Through our website, donations can be made by several cryptocurrencies through the CoinPayments.net gateway, PayPal, Stripe, and ACH/bank wire.

   • Donations can also be arranged by contacting BTRIC through email at donations@btric.org or by telephone at +1 732-719-6839.  For your safety, do not send any private information, including financial information, through email as it is an unsecure form of communication.



BTRIC Founding Donor Token details
   • Token name: BTRIC Founding Donor Token
   • Token symbol: BFD
   • Fundraising dates: January 1, 2018 to February 15, 2018
   • Token use: Represents monetary or cryptocurrency asset donation to BTRIC.  Holders of BFD Token will be granted “BTRIC Coin” token or currency when issued (Q2 of 2018).  On an ongoing basis, those that hold BFD Token at the time that each project completes our Project Incubation Program will be provided a gift or benefit from the newly-created business.  In addition, those that hold BFD Token at the time each project completes the BTRIC Project Incubation Program.  Projects that enter our program agree to this as part of the incubation process.  These ongoing rewards will be accomplished by taking snapshots of all BFD Token holders on publicized dates and times.  If BFD Tokens are transfered, benefits are transfered to the new holder of the BFD Token as of the next snapshot date/time.
   • Token type: ERC20 smart contract deployed on the Ethereum blockchain.  The BFD token supports eight [8] decimal places.
   • Compiler version: v0.4.18+commit.9cf6e910
   • Tokens generated: 500,000 (fixed amount)

   • Token details URL: https://etherscan.io/token/0x117a4db782f29598d9627a57be5ed331f6aa446c
   • Contract address URL: https://etherscan.io/address/0x117a4db782f29598d9627a57be5ed331f6aa446c
   • Token vault address URL: https://etherscan.io/address/0xd4ff4eb15308ea72914d243a7b141a5ef1df40dd
   • Token verified: Yes, on Etherscan.io.
   • Token repository URL: https://github.com/btric/bfd-token

   • Fundraising goal: $500,000.00 USD
   • If goal is reached early? Fundraiser will end early.
   • If goal is not reached? Remaining BFD will be distributed pro-rata.
   • Token distribution: Token distribution within 10 business days of the end of the fundraising campaign.




Our Initiatives
BTRIC Project Incubation Program
Our key initiative is the BTRIC Project Incubation Program (PIP).  It’s objective is to identify, foster, promote, and launch emerging technology projects that are in the planning, research, and development phases.  Projects that are incubated by BTRIC will emerge as separate, independent businesses, investment-grade and meeting all applicable requirements for their investment offering.  Our donors will support projects through their development phase, and some of them may go on to be investors in the projects that emerge.

Our mission is similar to that of traditional, brick-and-mortar business incubators, but we are focused on providing an incubation program for projects based on emerging technologies, as well as other initiatives that will foster growth in the emerging technology ecosystem.  Rather than a focus on a particular geography, we focus on the transformative technologies that are just beginning to make profound changes to society and open markets.  Like any business incubator, our goal is to build better businesses and promote economic growth by facilitating well-designed projects, progress, and positive outcomes.



Initial PIP Projects
As we grow, we will be working with more projects that will emerge as great businesses.  (We may have some more to announce during our fundraising campaign!)  At launch, we will begin work on incubating the following projects (please review our white paper for more information on each):

   • "Cryptocurrency Federal Credit Union" (working name)
In the United States, both individuals and businesses involved in cryptocurrency face real challenges in maintaining relationships with financial institutions.  One reason may be because these institutions see cryptocurrency as a threat to their viability and business models (which in many ways it is).  However, we believe that most of the reason is due to the high regulatory and supervisory burdens associated with cryptocurrency-related transactions, which are often seen by regulators as “high risk” transactions.  Numerous reporting and compliance requirements, including anti-money laundering and countering  the  financing  of  terrorism (AML/CFT) requirements, are often time-consuming, manual processes performed by smaller financial institutions, while larger institutions often view this extra effort for a minute subset of its accounts as not worth it from a ROI perspective.  This problem has not abated over time.  In fact, though it is difficult to know for sure, evidence suggests that this practice may have increased as banks have become more aware of cryptocurrency exchange businesses in recent years.

This project, “Cryptocurrency Federal Credit Union” (working name), proposes to investigate, and if deemed feasible and with sufficient community support, seek a federal credit union charter from the National Credit Union Association (NCUA).  If successfully chartered, the business created would be a federal credit union, a type of financial institution that is owned by, and can pay dividends to, its members, which can include U.S.-based individuals and their businesses.  The institution would specialize in the types of “high risk” compliance that is integral to current regulations for accounts that transact cryptocurrency.  It would be able to offer the full array of services that a federal credit union can legally offer, including savings and checking accounts, debit cards, ACH settlement, merchant services, etc.  It is clear that a reliable financial institution that specializes in working with members who transact in cryptocurrency would be a beneficial addition to the ecosystem.  We believe a member-owned credit union to be appealing to more of the cryptocurrency ecosystem than a traditional chartered bank.  While the eventual goal of cryptocurrency is to eliminate much of the need for traditional financial institutions, the need exists today for a reliable financial institution to help bridge the gap for those consumers and businesses that deal heavily in cryptocurrency.  Such an entity can help existing consumers and businesses in the cryptocurrency ecosystem, as well as enable easier launches for new people and businesses entering the field.

This project has two incubation phases.  First, surveying the people and businesses in the cryptocurrency ecosystem to determine if sufficient support for a credit union exists.  If so, the second phase would prepare for and make application to the NCUA for a federal credit union charter.  When this project has completed our incubation program, it would become a separate business which would be a chartered federal credit union.


   • "Cryptocurrency for Good" (working name)
This project, “Cryptocurrency for Good”, proposes to increase the use of cryptocurrency by charitable organizations by enabling people to donate to any 501(c)(3) charity with proceeds paid in cryptocurrency.  As one of the goals in the cryptocurrency ecosystem is to increase its usability and widespread adoption, this project targets one business segment to increase adoption – non-profit charitable organizations.  Like Amazon Smile, this program will not require a charity to register in advance.  Funds received will be remitted to the directed charity as cryptocurrency.  It is our belief that Bitcoin would be the best cryptocurrency to use, at least initially, because of its recognition and relatively wide acceptance.

When this project has completed our incubation program, it will be launched as a separate non-profit organization.

   • "Sea to Table" (working name)
Illegal, unreported, and unregulated (IUU) fishing and seafood fraud undermine the sustainability of U.S. and global seafood stocks and negatively impact general ecosystem health.  At the same time, IUU fishing and fraudulent seafood products distort legal markets and unfairly compete with the products of law-abiding fishers and seafood industries globally.  This issue is so significant to the health of the U.S. seafood industry that it was the subject of a Presidential Taskforce.  The materials from the Taskforce are available at http://www.nmfs.noaa.gov/ia/iuu/taskforce.html.

This project, “Sea to Table”, will create a fully compliant traceability system for seafood that is caught, farmed, or imported into the United States.  This project will build a specialized distributed ledger and engineer IoT devices developed to track and transmit location information concerning seafood in transit between the point of harvest (or, in some cases, point of importation) and the end-user (restaurant, wholesaler, or retailer).  It will enable consumers to scan a QR code that will be able to detail its journey and establish the full chain of custody of the seafood.

When this project has completed our incubation program, it will be launched as a for-profit corporation, marketing turnkey tracability hardware and software to the seafood industry and fisheries management bodies.


BTRIC Institute
BTRIC Institute is our advocacy initiative.  While 501(c)(3) non-profit organizations are limited in some ways regarding the types of advocacy they can perform with respect to support for specific legislation, and are prohibited from supporting or opposing candidates for office, there is much we can do within the limits of the law.

Our Founding Trustees have extensive experience in advocacy, spending much of their careers advocating Federal lawmakers and policy-makers and are very familiar with how to conduct effective advocacy.  We plan to use our knowledge to promote adoption of emerging technologies, such as consensus-based distributed ledger technology, for use in government and the private sector to transform society.  We also plan to advocate for common sense, practical regulation of digital assets, such as cryptocurrency and tokens, that protect the ecosystem, provide regulatory clarity, and enable – rather than stifle – innovations in the field.

BTRIC Institute will be partnering with other non-profit organizations, such as Coin Center, The Linux Foundation, ICANN, IANA, EFF, and others to advance our initiatives and work with policy-makers to grow and maintain a vibrant emerging technology ecosystem.  BTRIC Institute will also conduct other work in developing, refining, and promoting best-practices that can be used by those in the emerging technology ecosystem, such as:

   • Promotion of women and diversity in projects in the emerging technology ecosystem, both as users as well as project participants;
   • Open frameworks for best-practices in KYC/AML compliance in various jurisdictions;
   • Open frameworks for best-practices for security practices for distributed ledgers, including those for cryptocurrency;
   • Open standards and registries for identifiers (such as exchange ticker symbols, TCP ports, and address formats/namespaces) used to represent cryptocurrency and tokens;
   • Open standards to address legal, ethical, and practical issues regarding ownership and control of content created by users; and
   • Freely available educational and promotional materials to introduce policy-makers to emerging technologies and their potential to reshape society in profound ways.



BTRIC Labs
BTRIC Labs will be the core of our research and development efforts that are not specific to any project being incubated.  It is the place within BTRIC to explore “blue sky” concepts and approaches.  It will also be the initiative under which our staff engineers are given license to contribute to promising open-source projects that form the core of the ecosystem.  We believe that, while some areas of the ecosystem (such as Bitcoin) have a number of paid engineers that advance the open-source project, many other projects have not had the same success in retaining paid engineers, web developers, testers, documenters, and other experts.  BTRIC will allow our staff to devote some of their time to advancing free, open source projects that benefit the ecosystem as a whole.  Initially, BTRIC Labs plans to focus on two key areas:

   • Decentralization of user-created content, such as microblogging, social media, sound, video, search indicies, and other data that is currently held in large business “silos”, such as Twitter, Facebook, and Google.  A practical and scalable approach to decentralization of this content, as well as a decentralized manner that content creators are monetized, is a crucial step to liberating information from traditional and new media gatekeepers.

   • Scaling and usability issues that currently hold back worldwide, mass adoption of cryptocurrencies as a replacement for current payment methods, such as payment cards.  This problem also has implications for other uses of consensus-based distributed ledger technology.  We believe this problem must be overcome, enabling transaction volumes that are commensurate with global payment card volume, in order for a full and true paradigm-shift to take place.  This problem is complicated by several factors, but the work in advancing approaches to overcome it will benefit the entire cryptocurrency ecosystem.



Structure and governance
BTRIC is a New Jersey non-profit corporation and is subject to the jurisdiction of the State of New Jersey and United States federal law.  It has been recognized by the Internal Revenue Service as a Section 501(c)(3) public charity.  As a corporation, it must have certain structures that are legally required, such as a Board of Trustees.

Even though we are required under current law to have a Board of Trustees that is, from a legal perspective, at the top of the governance structure, BTRIC intends to adopt an open form of governance.

Our Founding Trustees are experienced with project management for public and private sector projects, with specific experience in the launch and management of non-profit organizations.  We consider our Founding Trustees as caretakers that will operate the organization in an open and transparent manner while putting in place legally-vetted Bylaws that allow for a concentric circles organizational structure.  These Bylaws (which will be Creative Commons licensed and open for use by any organization), once completed and adopted, will embrace open governance that we hope becomes the model for many non-profit and even for-profit organizations that operate in the ecosystem.

BTRIC’s Executive Director is the only paid member of the Board of Trustees, though other Trustees can receive reimbursement for reasonable expenses incurred in connection with their duties as a Trustee.  Our Executive Director supervises operations, staff and contractors, and is responsible to the rest of the Board of Trustees.  The Executive Director, while serving on the Board of Trustees, does not vote except to cast the deciding vote in cases of a tie.

We believe in a transparent, fluid governance structure based on concentric circles, concepts partially described by Heather Marsh in her book, Binding Chaos: Systems of Mass Collaboration.  This book, which is Creative Commons licensed, is downloadable from her blog at https://georgiebc.wordpress.com/2013/05/24/binding-chaos/.  The book can be purchased in printed form from Amazon.com at https://www.amazon.com/Binding-Chaos-collaboration-global-scale/dp/1489527680/, and donations can be made on her website.  Many open source projects implement parts of this type of governance without recognizing it, and BTRIC Institute hopes to document and provide templates that can serve as tools for new organizations to follow.

No later than August 30, 2018, BTRIC will be operating under final adopted Bylaws that embody this open governance model.  By that date, the one year anniversary of formation of BTRIC, we will have increased the Board of Trustees to at least seven people (so that our Founding Trustees are not a majority).  We are currently seeking interest from people involved in our projects and others in the community.  Other Board members can be involved in projects, but must adhere to our Code of Ethics and any conflicts of interest must be disclosed if they arise.

It is important to have just enough of a structure to ensure that our mission can be accomplished, without the bureaucracy that has been shown to cause issues relating to dominant personalities and factions within other organizations.  These issues often take the focus away from the idea and the overall mission.  By adopting open governance, we strive to include a much wider spectrum of ideas when considering decisions.



For more information
We welcome your ideas, questions, feedback, and suggestions.  Please feel free to reach out through any of the channels below.  We'd love to hear your thoughts!

   • Office: BTRIC, 1000 Bennett Boulevard, Suite 8, Lakewood, NJ 08701-5944 USA
   • Telephone: +1 732-719-6839 and +1 877-55BTRIC
   • Website
   • White paper
   • Executive Director: benjamin.beideman@btric.org
   • General Inquiries: info@btric.org
   • Team Recruitment: team@btric.org
   • Partner Relations: partners@btrc.org
   • Media Inquiries: media@btric.org
   • BTRIC Forum
   • Twitter
   • Medium (Blog, News, and Updates)
   • GitHub
   • Reddit
   • Facebook
   • Telegram Channel
   • GuideStar Charity Profile



Thank you for your support of Blockchain Technology Research Innovations Corporation!  Together we will seize this unique moment in world history to bring real and lasting change through the Decentralization Revolution!

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January 08, 2018, 06:19:55 PM
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Reserved.

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January 08, 2018, 06:21:13 PM
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January 08, 2018, 06:22:01 PM
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This is quite ambitious. The goal to upend violent and brutal power structures is a noble one, but also risks dissolving nation-states and modern countries as we know them. It will happen eventually and blockchain technology is just one piece of that equation. I will watch this project.
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January 08, 2018, 06:24:35 PM
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Only 500,000 tokens, why so few?
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January 08, 2018, 06:28:20 PM
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This is quite ambitious. The goal to upend violent and brutal power structures is a noble one, but also risks dissolving nation-states and modern countries as we know them. It will happen eventually and blockchain technology is just one piece of that equation. I will watch this project.

Thank you!  It's not all going to happen at once, but you're right, it will happen eventually.  The end of nations is not our objective, but we do want them to be more fair, more open, more honest, and promote businesses and projects that can (and are) fundamentally change society.

BTRIC's mission is to focus on specific projects as an incubator and then, when they're ready, to launch them as separate businesses.  At the same time, as a non-profit, we can focus on advocacy and other initiatives that really can advance the ecosystem as a whole.

Have a great day!
Ben

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January 08, 2018, 06:28:40 PM
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it seems that this project will be one of the most successful projects in the future, because after I read it, I started to like the concept, and it could be if there is an ICO, maybe this would be a successful ICO

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January 08, 2018, 06:34:52 PM
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Only 500,000 tokens, why so few?

The main reason we are focused on a fundraising target of $500,000 is because that's what we budget we'll need (and a prudent reserve) to get us through calendar year 2018 and focus on our mission.  We do not want to try to raise more than we need.  We accept donations at any time, of course, but we are limiting our BTRIC Founding Donor fundraising campaign to 500,000 tokens.  Only those donors that participate in this campaign will be able to be recognized as BFD's (on our website if they choose as a Founding Donor).  Check out our white paper for more details on that.

One of the challenges where we we're focusing on making a difference is in increasing the quality of projects that emerge as investment offerings.  We've all seen too many ICO/ITOs that either cut/pasted their white paper or ran off with the money.  The projects that we incubate will be put together like top-shelf businesses during our incubation program.

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January 08, 2018, 06:39:48 PM
 #9

it seems that this project will be one of the most successful projects in the future, because after I read it, I started to like the concept, and it could be if there is an ICO, maybe this would be a successful ICO

Thank you! We are really focused on doing great things and will have some other partnerships and announcements to make in the coming days.  All of our projects that complete the incubation phase, we're going to give them all the support they need to be outstanding ICO/ITO offers (or whatever other method they choose to raise capital).  Some quality is needed in the ecosystem and we're going to use existing best-practices, contribute to improving them, and work hard to share this with all of the community.  We want everyone to benefit from the paradigm shift we're just at the very, very beginning of.

We're putting together a great team of professionals that really want to make a difference in the field.  2018 is going to be a great year for BTRIC, cryptocurrency, and the whole emerging technology community.

Best regards,
Ben

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January 08, 2018, 06:51:16 PM
 #10

added to my watchlist! Smiley



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January 08, 2018, 08:34:44 PM
 #11

Hi everyone! Just added BTRIC ICO to my website https://concourseq.io/Q/Btric. ConcourseQ is a collaborative due diligence community that researches and reviews ICOs. Anyone with an account can submit information to your page, so we are reaching out to this community to get you all involved in the discussion. Thanks! PS: If you have any questions about filling in the info, feel free to ask us in our discord group: https://discord.gg/j8RBAwB
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January 08, 2018, 09:09:00 PM
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this project is very confident with the concept, this is great for further development, with ambition big enough, of course must finish mission well, I think will not disappoint, good luck
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January 08, 2018, 09:45:05 PM
 #13

added to my watchlist! Smiley

Thanks pangu, I appreciate that.  Looking at the CoinMetro white paper very briefly, I completely agree with the need for cryptocurrency to become much easier to use from an end-user perspective.  If crypto is going to replace much of banking, it needs to be at least as easy to use as a payment card.  In my view, that's the bar that must be met or exceeded in order for the paradigm-shift to really take hold.

I recognize that's a huge challenge and that it's really the trillion dollar opportunity, but eventually crypto must work as quickly and reliably as a card swipe.

I wish your project the best and will be reviewing the white paper more fully later today.

Best regards,
Ben

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January 08, 2018, 09:48:02 PM
 #14

Hi everyone! Just added BTRIC ICO to my website https://concourseq.io/Q/Btric. ConcourseQ is a collaborative due diligence community that researches and reviews ICOs. Anyone with an account can submit information to your page, so we are reaching out to this community to get you all involved in the discussion. Thanks! PS: If you have any questions about filling in the info, feel free to ask us in our discord group: https://discord.gg/j8RBAwB

Hello SeveralQ, thanks for adding our organization to your website.  Considering your site is for due diligence, would it be appropriate for us to add material to the page?  Or should it come from other members in the community?

In any event, if you need any information about our organization, please feel ffree to reach out on here or by email to me directly at benjamin.beideman@btric.org.

Please have a great day!

Best regards,
Ben

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January 09, 2018, 11:13:38 AM
 #15

this project is very confident with the concept, this is great for further development, with ambition big enough, of course must finish mission well, I think will not disappoint, good luck

Thank you very much. Yes we have spent a lot of time focusing on the best way to deliver real value to our donors and others in the emerging technology community.  Being able to focus on aspects that aren't often considered and implemented as well as they need to be has given us a great perspective on how to do this.  One example is the need for projects to have a close examination of how their project is governed. It needs to be sufficient but not overbearing -- more fluid and dynamic approaches that remain focused on the goal and mission can be the key that separates a successful project that delivers from one that is "a great idea", but had stumbling blocks.

Best regards,
Ben

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January 11, 2018, 10:43:30 AM
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After the fundraising, which exchange platform will be prepared?That is the most important thing for investors.

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BTRIC
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January 11, 2018, 11:02:50 PM
 #17

After the fundraising, which exchange platform will be prepared?That is the most important thing for investors.

Hi, wafdawg,

Thanks for your interest in our organization.

For the BTRIC Founding Donor Token (BFD), We have EtherDelta in process.  We are also working on other exchanges and want to seek feedback from our donors as to their preferences.  Some of the exchanges we are talking with require that we not discuss them by name (and also sign an NDA) until the listing is active or they reserve the right to ban the token.  Do you have particular exchanges that you believe are essential?  We want to be responsive to our donors.

As far as "BTRIC Coin" (working name)... this is a cryptocurrency or token that will be issued in 2018 Q2.  All holders of BFD Token as of a snapshot date/time (to be publicized in advance) will be granted an amount of BTRIC Coin for each BFD they possess at the time of the snapshot.  We do not yet know if BTRIC Coin will be a cryptocurrency with its own blockchain or will be a token, and if so, what platform it will be deployed on.  We are going to consult with advisors concerning the stability and resilience of the Ethereum platform as we do have some concerns about both.  Also, if we do deploy our own blockchain, again, we are going to do so under advisement of experts.  We do not want our organization to make a poor decision and cause harm to our reputation, so that's something that will be carefully considered as we move towards the launch of the coin.

If you have any more questions, please let me know.  Have a great day.

Best regards,
Ben

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January 12, 2018, 08:34:09 PM
 #18

This looks like a good project. went through this thread and I have to admit it is well detailed and describes very well the fundraising and distribution process

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January 13, 2018, 09:31:44 AM
 #19


BTRIC Founding Donor Token details
   • Token name: BTRIC Founding Donor Token
   • Token symbol: BFD
   • Fundraising dates: January 1, 2018 to February 15, 2018
   • Token use: Represents monetary or cryptocurrency asset donation to BTRIC.  Holders of BFD will be granted “BTRIC Coin” token or currency when issued (Q2 of 2018).
   • Token type: ERC20 smart contract deployed on the Ethereum blockchain.  The BFD token supports eight [8] decimal places.
   • Compiler version: v0.4.18+commit.9cf6e910
   • Tokens generated: 500,000 (fixed amount)

This is an astonishing total supply, with that limited amount of total supply, i think that would be a good exchange rate.
In which market do this market is available to be trade?

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January 13, 2018, 06:25:25 PM
 #20


BTRIC Founding Donor Token details
   • Token name: BTRIC Founding Donor Token
   • Token symbol: BFD
   • Fundraising dates: January 1, 2018 to February 15, 2018
   • Token use: Represents monetary or cryptocurrency asset donation to BTRIC.  Holders of BFD will be granted “BTRIC Coin” token or currency when issued (Q2 of 2018).
   • Token type: ERC20 smart contract deployed on the Ethereum blockchain.  The BFD token supports eight [8] decimal places.
   • Compiler version: v0.4.18+commit.9cf6e910
   • Tokens generated: 500,000 (fixed amount)

This is an astonishing total supply, with that limited amount of total supply, i think that would be a good exchange rate.
In which market do this market is available to be trade?

Hi Mlester,

Thank you for your interest in our organization!

Currently our BFD Token IDO fundraising campaign is in progress, so the full supply of BFD Tokens are stored in a secure paper wallet in our custody.  After the sale concludes (which may be sooner than February 15 at the current rate of contributions), we will distribute all of the BFD to those that contributed.  Our white paper says within 10 days from the close of the IDO, but it will very likely be done on or before February 19, which is the Monday after the IDO ends.

We are working with EtherDelta to ensure that our donors are able to exchange BFD tokens after they are distributed.  We are open to suggestions from our donors on other exchanges to ensure that donors are able to exchange their tokens easily.  Some of this cannot be announced in advance due to NDAs that they require.  But on our side, at BTRIC, we will do whatever we can to ensure that the token is listed on global exchanges as well as regional exchanges if there is sufficient donor interest in that region.

Now, an important factor to keep in mind is that all that hold BFD Tokens will be given a grant of "BTRIC Coin" (working name), which will be either a different token or a cryptocurrency, when it launches in the second quarter of 2018.  This is different from BFD (BTRIC Founding Donor) Tokens, and we are not sure yet which platform it will be issued on (if a token), or which codebase it will be forked from (if a cryptocurrency).  We are going to consult with crypto engineers on the mechanics of the BTRIC Coin, we want to make the right design decisions for a secure and resilient token or currency.

However, to repeat, all BFD Token holders will be given a grant of the BTRIC Coin when that launches.  This will not be an exchange, you'll be able to keep your BFD Token.  We want to reward our Founding Donors for supporting our organization in its initial launch phase.  Besides the BFD Token, founding donors can also have their name/business name, logo, and website forever listed on our website and recognized in our materials as founding donors.  We are in this for the long-term, and want our Founding Donors to be recognized as the leaders of the industry in bringing about this organization.

We also welcome participation from our donors and the community at large in our projects and even in our governance.  Our mission for BTRIC is to create an organization that:

- helps promising projects become investment-ready businesses (BTRIC Project Incubator Program);
- advances causes that are for the common good of the emerging technology industry (such as advocating against regulations that would harm the industry, educational outreach, and promoting more women and diversity in projects and as users of crypto and other emerging technologies);
- researches solutions to problems faced across the field (BTRIC Labs).

As a non-profit charity, we are formed for the good of the entire ecosystem.  Our projects graduate from the incubator program and become separate businesses.  We see it as a way to take a project from a "great idea, let's make it happen" phase to the "investment-grade, ready to launch" phase.  Like a traditional business incubator, but focused on emerging technologies like cryptocurrency, distributed ledger, and IoT.  These are the technologies that are going to reshape society, we want to do our part to make that happen!

If you have any more questions, please don't hesitate to ask.

Best regards,
Ben

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