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Author Topic: ∞💰∞【ANN】【IITO】Escrow Platform with ESC9 protocol ∞💰∞  (Read 57 times)
xredfoundation
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April 02, 2018, 09:19:34 AM
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This is an offer for you to participate in a new type of ICO. We are calling it an IITO - Infinite Initial Token Offering.

The IITO start period will be known, but the end period will depend on the amount of funds collected at each stage. Thus, the IITO EscrowBlock will be terminated after the acquisition of all tokens on offer at each stage. During the IITO, companies and individuals investing in the EscrowBlock initiative will pay for distributed tokens through payments in cryptocurrencies or fiat.

IITO has a defence with a long period of establishment. It is the "Control time". The "Control time" is defined as 1 year. If at the end of this period the first stage is not fully funded then all proceeds will be refunded automatically, except fiat payments, which will be refunded manually.

This new type of ICO, IITO, will protect investors from over-foundation and will save money if the initiative does not get fulfilled.

What is the aim of the project?

The aim of the project is to create an EscrowBlock escrow platform for the Ethereum network blockchain. Such a platform can work as an independent environment, or be integrated into other Smart contracts  (see whitepaper), to provide escrow services as part of any other projects. The team will start the project on Mainnet Ethereum blockchain and then make a fork for providing an independent service.

Video presentation


How it will work?

Any token holder will be able to create an escrow contract for a transaction under the ESC9 standard. Such escrow contracts will be able to protect the deposit of one agent and the object of acquiring another agent from unpredictable circumstances.

If the terms of the contract are not executed by any party, then such contract is frozen and transferred to one of the arbitration bodies of the EscrowBlock network. The bodies themselves are not elected in the literal sense, appointment to this post can only be made if you own a certain number of tokens and on this basis voting by the owners of the tokens is for that purpose. Decisions on a disputable issue related to escrow are made through confirmation or cancellation of transactions. If such a decision is made there will be an explanation of the decision, if the counterparties involved in the transaction do not reach consensus, then the arbitrators may decide to transfer the decision to the higher-level for disputed contracts and it can arrange an anonymous vote among the token holders. Anonymous voting or a higher authority may decide in favor of one of the counterparties or in favor of withholding the deposit in full and blocking and canceling the ratings of the counterparties in the system. Anonymous voting is only an extreme measure to resolve disputes between counterparties.

What is the stage for IITO?
1. Development of ESC9, specifications and testing of the basic model in specific markets (up to $40,000).
2. Development of the hierarchy of multi-signature arbitration wallets, deployment of the entire functioning system on Ethereum Mainnet,
preparation for launching its own Ethereum-like network block for an independent transaction environment (up to $100,000).
3. Development of the programing part of the EscrowBlock system and interface for the main software platforms (up to $200,000). The beginning of the offering of tokens on cryptocurrency exchanges.
4. Development of libraries for various programming languages ​and frameworks (up to $500,000).
5. Development of a system for working with deposits in different blockchain networks and payment gateways (up to $1,000,000).
6. Development of a system for the rental market (analogous to Airbnb) (up to $4,000,000).
7. Development of a system for the freelance market (analogous of Upwork) (up to $6,000,000).
8. Development of a system for the market of cross-border cargo delivery (up to $8,000,000).
9. Risk Coverage Fund ($10,000,000)

The sum of each stage doesn't mean that this amount must be spent on this particular stage. Any unspent funds will automatically go to the next stage.

Why are you conducting an IITO. Can you do the project without this?
Yes, and we will do it. But we want to gather the basis for future investment. As you can see, in our roadmap we will develop many services and we need to have the foundation for the next steps because any real business cannot be in profit right from a start. Also, we don't want to have only a few owners in the face of big institutional investors. We want to develop the decentralized platform with the aim to bring the significant benefit in the Crypto World. Any institutional investor will dictate their own rules and we want to avoid this.

Distribution of tokens
  • Among users: 66%;
  • Stored to receive dividends in EscrowBlock: 30%;
  • Incentive campaign: 4%;

Referral program
Yes, and we will do it. But we want to gather the basis for future investment. As you can see, in our roadmap we will develop many services and we need to have the foundation for the next steps because any real business cannot be in profit right from a start. Also, we don't want to have only a few owners in the face of big institutional investors.
We want to develop the decentralized platform with the aim of raising capital in the Cryptoworld. Any institutional investor will dictate their own rules and we want to avoid this.

Team tokens
Due to specifics of the IITO, not knowing when we will be fully funded, the team will receive cliff/vested tokens after each stage. Cliff period = 1 year. Vested period = 1.5 year.

Bussines model
EscroBlock services will get a percentage after each deal (usually it will be 1%). Any holders of the tokens will be able to get dividends in proportion of the profit from Escrowblock services.

Team

Konstantin Viktorov
The founder and technical director of the project EscrowBlock. More than 14 years in the field of information technology. He created from scratch or participated in projects for large companies such as Aeroflot, TELE2, Velcom, Upwork, Toptal, etc. He has experience in building from scratch highly loaded real-time systems, the experience of creating software in different programming languages for different spheres of human activity. He has a bachelor's degree in the field of physics of magnetic phenomena.

Kevin Hollands
Founder and highly qualified investor in the markets of cryptocurrencies, real estate and construction. He has more than 20 years of practical experience, a huge track
record in project management. Kevin manages all aspects of investment, including strategic management of companies working in the investment and construction business.

Short 1st stage explanation

On page presentation

Table of the main information

Url:https://escrowblock.net
WhitePaper url:https://escrowblock.net/whitepaper.html
Logo url for media: https://escrowblock.net/images/escrow_1024.png
Platform:Ethereum
TokenSale address:https://etherui.net/smartcontract/0x27a36731337cdee330d99b980b73e24f6e188618
TokenSale code:https://etherscan.io/address/0x27a36731337cdee330d99b980b73e24f6e188618#code
Token address:https://etherui.net/smartcontract/0x27bf1f282ee96cdb4bb921c961fe081f397e03e4
Token code:https://etherscan.io/address/0x27bf1f282ee96cdb4bb921c961fe081f397e03e4#code
Smart contracts:https://github.com/escrowblock/smartcontracts
Blog:https://medium.com/@escrowblock
Facebook:https://fb.com/escrowblock/
Github:https://github.com/escrowblock
Reddit:https://reddit.com/escrowblock
Twitter:https://twitter.com/escrowblock
Telegram:https://t.me/escbnet
Team url:https://escrowblock.net#team
ICO Url:https://wallet.escrowblock.net or https://escrowblock.net/instructions
One page presentation:https://escrowblock.net/one_page_presentation
Start date:02/04/2018 12:00 UTC
Finish date:TBC
ICO Supply:100 000 000
Max Supply:110 368 000
Start bonus:20%
Asset title:EscrowBlock
Token/coin Title:ESCB
Symbol Title:
Accepted currencies:BTC, ETH, DASH, BCH, more than 70 cryptocurrencies + credit cards and wire transfer.

Escrowblock IITO   |  from 2 April 2018   | 20% on 1st stage
The aim of the project is to create an EscrowBlock escrow platform for the Ethereum network blockchain.
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April 02, 2018, 09:24:38 AM
 #2

@xredfoundation, thank you for the post with images!

Dear community, please send to this account any your questions. It is official account of EscrowBlock foundation for bitcointalk.

Visit: https://escrowblock.net
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April 02, 2018, 08:30:48 PM
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The idea is quite interesting. Is this something like the whole shipboard system based on the technology of blockchain?

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April 03, 2018, 08:52:07 AM
 #4

The idea is much wider and includes a dispute resolving system but the dispute resolving is not the only vector of the stack.
We are preparing some articles for an in-depth explanation on the hierarchy of multi-signature wallets. It will explain in more detail about the 1st stage of the project.
Briefly, the main concepts are:
1) Avoiding centralization for dispute resolving. The final decision will be the last step for dispute resolving - anonymous voting.
2) Possibility for refunding any bad transaction on the platform (revocable transaction).
3) A safe way for cooperation between counterparties. You can order any goods or services from anywhere or anyone and not be afraid of any aspects of the deal. No need to check counterparty credentials, EscrowBlock will do this automatically.
4) Payments between counterparties will be available on any blockchain and from any fiat sources.
When we publish our stack anyone from the community will be able to integrate our escrow services into any business.

Many businesses must have escrow services to do safe deals.
For example:
1) Rental market.
2) Freelance market.
3) Exchange platform - crypto to fiat and fiat to crypto. The current problem of being "not a revocable transaction" will be resolved.
4) ...

Visit: https://escrowblock.net
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May 13, 2018, 10:24:05 AM
 #5

Referral program
Our offer for you to participate in our referral program to spread information about our new IITO and gain rewards from investors buying and referrals.

How to participate
You can log in to our wallet app by https://wallet.escrowblock.net
and share the ready referral link from
https://wallet.escrowblock.net/referralprogram
or you can just target traffic on https://wallet.escrowblock.net/ref/yourETHaddressHere, for example, https://wallet.escrowblock.net/ref/0xf49bfaaf9fda49953ebcfbe7ff555477fcd98396
We use cookies to track referrals. The cookie will be live for 1 year. If your referral buys tokens, you will receive 2% of total tokens purchased and your referral will also get 2%.

When will I get my rewards?
Immediately. Because we use blockchain internal logic for our referral program. IITO smart contract will issue tokens immediately after buyer will finish the process of purchasing.

What is the maximum count of tokens that can be allocated per one referral address?
It doesn't have any limits. Token amounts can be ranged only up to the amount of total supplied.

Can I use direct blockchain method to participate in referral program?
Yes, if you want to buy tokens with referral bonus directly, then just send ETH to paymentAffiliate() with _referral (address). You can use MEW, CLI or
https://etherui.net/smartcontract/0x27a36731337cdee330d99b980b73e24f6e188618

Visit: https://escrowblock.net
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May 30, 2018, 10:51:02 AM
 #6

Hierarchy multisignature wallets
(Trust system)

This text describes the abstraction of a trust system that allows you to integrate escrow services into any sphere of economic relations.
Depositing funds is a fundamental part of any transaction. If counterparties do not know about each other reliable information, the risk of fraud increases. This abstraction allows programming in a decentralized network a dispute resolution model, a model for conducting automatic transactions, protected transactions, etc. At the same time, such a model of the trust system is open. All transactions conducted with the participation of the hierarchy of multisignature wallets allow you to rate the counterparty’s rating, as well as to protect against fraudulent schemes of new participants in economic relations.

You can find the continue by link https://medium.com/@escrowblock/hierarchy-multisignature-wallets-9e33ba1c5541

Visit: https://escrowblock.net
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