I found this project is interesting and something new in market.
Actually people didn't understand the concept.
Admin can you tell us something about the concept in simple way?
W12 is a protocol for the creation peer-to-peer digital contracts. The system allows users to create contracts with any logic necessary for their execution without programming skills. The execution of scenarios programmed in digital contracts confirms in W12 decentralized oracle network.
W12 solution includes: protocol layer, open-source framework, token sales platform.
We're building a decentralized blockchain infrastructure where trust between parties is not necessary, and any controversial issues can be resolved quickly, transparently and at low cost. You don't need to trust the counterparty when you can trust the code and decentralized systems. Using a blockchain based on the proof of authority consensus allows this system to execute digital contracts faster and cheaper.
The W12 solution allows us to reconsider the role of the state as an arbiter in relations between parties and to relieve part of this capacity from state institutions, shifting it to a digital contracts and self-regulated decentralized organizations. This peer-to-peer system is an integral part of a new decentralized digital economy.
In addition to the ICO market, solving the problem of mistrust between token buyers and ICOs, the W12 solution is also planned for integration in to the following markets:
- The GIG (Freelance) Market
- P2P E-commerce
- Charity Market
- Crowdfunding
- Construction and many others.
More information on use cases and integration can be found in the project’s White paper. The total volume of these markets is currently estimated at more than $15 trillion USD. Moreover, the problem solved by W12 is one of the largest existing problems in the traditional economy. The W12 solution significantly improves on existing centralized analogs, offering the market a transactional model with a commission of only 0.5%.
For the effective implementation of this solution, the team will launch its own blockchain based on the proof-of-authority consensus, a protocol that allows users to create peer-to-peer contracts and a decentralized oracle network that confirms the execution of the milestones in contracts and the transfer of funds to the other party of the deal in accordance with the conditions set within it.
The W12 solution has already been recognized in a number of international conferences:
- 1st place and the best ICO at World Blockchain Forum, New York.
- Finalist at Icorace, Switzerland (selected by a jury among 140 ICOs).
- W12 was marked by Silicon Valley experts at the Blockchain Economic Forum, San Francisco.
HARD CAP IS 22500 ETH / OR 12 MLN. USD
MVP IS READY! All tokens not sold during the token sale will be burned forever. Tokens allocated to the team, founders and advisers are frozen by a smart contract for 2 years.
W12 token economy:
- protocol token for parties in smart contrats
- fuel in decentralized oracle network
- payment in token sales platform
All-Star team includes prominent advisors from Goldman Sachs, Citibank, Ericsson, serial entrepreneurs in IT, a Chief Technical Officer and developers with 10+ years of experience.
