RoboAdvisorCoin (RAC), founded by serial tech and ICT entrepreneur Edoardo Narduzzi, a Robo-Advisor exclusively dedicated to the world of cryptocurrencies and digital assets has officially opened its Initial Coin Offering (ICO), and has today published its detailed White Paper on its brand new website.
RAC aims at empowering users with accurate real-time forecasts and statistical analyses related to the fast-evolving market of cryptocurrencies and digital assets.
The main platform has been extensively tested over the last four years by providing forecasts and performance analytics for traditional securities including equities, bonds, ETFs, and mutual funds. Since last August, the artificial intelligence architecture on which RAC is based has produced daily reports and forecasts for more than 1,200 cryptos and tokens, generating a fully automated original source of specialized information. The service provided can be thought of as a hybrid between platforms such as Spotify and Bloomberg in that:
It offers its users the ability to select and track a personal “playlist” of preferred cryptocurrencies and digital assets, also equipping them with a full set of on-demand analytics and forecasting tools;
It represents a digital platform which fully exploits the timeliness and accuracy of complex machine learning algorithms in the context of big data analytics to provide reliable, personalized predictions and performance measures on cryptocurrencies and digital assets.
RAC will provide transparent and verifiable Robo-based forecasts which will then be stored onto the Blockchain. The underlying idea is to provide a shared, immutable, and transparent database concerning all forecasts and analyses generated by the Robo-Advisor. The platform embraces the challenge of decentralizing forecasts through the Blockchain, which means that every user will be able to access the platform and produce personalized reports containing accurate information on their personal “playlist” of cryptocurrencies and Tokens.
The ability to provide on-demand forecasts is an innovative tool specifically designed for Miners, with the primary intent of delivering analytics designed to help optimize production functions and profitability.
The logic behind this service is that Miners will be able to process on-demand user-specific cryptocurrency predictions (from within the current cryptocurrency universe) coupled with the knowledge provided by the platform with their proprietary information on the available production technology in order to choose the crypto-currency which is the most profitable to mine at any given time. In the absence of a term structure of futures contracts, such on-demand service provided by the platform will certainly prove to be crucial information for Miners and market operators.
RAC counts on a wide, experienced and outstanding team of international professionals guaranteeing the best evolution of the technological project. RAC tokens owners will have access to all existing and future services provided by the platform for an initial price which will be fixed until 2021.
The ICO will officially begin on November 24th at 1500hrs GMT. Bookiedom-Steadywealth Limited (the ‘Company’) intends to generate 4,000,000 RACs which the Company intends to allocate in accordance with the following scheme of distribution:
25% of RAC tokens will be reserved for the Robo-advisory team;
25% of RACs will be reserved for RoboAdvisorCoin platform;
50% of RACs will be distributed to contributors during the ICO.
RAC tokens held by the Company will be used to incentivize other systems to interact with the platform. The Company commits to hold at least 90% of these retained RAC tokens for a period of at least 12 months from the date of the opening of the ICO. The Company aims to raise a maximum of 100,000 ETH (‘Hard Cap’) and a minimum of 3,000 ETH (‘First Cap’) with a second cap set at 15,000 ETH. Exchange rate:
1 ETH = 28 Robo Advisor Tokens (RAC) subject to the soft cap of 3,000 ETH.
1 ETH = 24 Robo Advisor Tokens (RAC) subject to the cap of 15,000 ETH.
1 ETH = 18 Robo Advisor Tokens (RAC) subject to the cap of 100,000 ETH.
The above value represents a total maximum amount of 1,902,000 RAC allocated for contributors during the ICO timeframe. The balance of 98,000 RAC tokens could be allocated in pre-sale upon requests.
Launch date: 24th November 2017
Token launch time-frame: 30 days or upon reaching the maximum ETH allocated, whichever is the earlier.
In the eventuality that the First Cap is not met, all subscribed ETH will be returned to each respective contributor.
DFAdvocates, a leading Malta law firm, has acted as legal consultant for the ICO.
