ICO Papa Carlo: why do we need blockchain?
Buratino Blockchain Solutions (BBS) is a company operating in the real economy. We produce the most different hi-tech products employing blockchain technology. For example, a hardware wallet Trezor Mini and IoT-trackers. Considering this, a question may arise: why do we initiate ICO for the Papa Carlo project?
Firstly, ICO allows a company to operate without selling share of it to third-party investors. It is important from perspective of creating an independent and self-sufficient business structure. Secondly, open crowdsale allows to scale audience and client base. At the same time, such approach brings us to the international level that is very important for any producer of the mining equipment.
Peculiarities of Papa Carlo ICO
Not every ICO needs blockchain technology, but for us it is the chance to create databases transparent and protected from any manipulations. We will use blockchain to fix information on preorders of the equipment, in other words, register data on our cryptocurrency investors, who have bought Papa Carlo mining equipment.
BUR tokens confirm investments, investors receive them for the cryptocurrency. We will carry out the return exchange on multi-miners after the start of open sales, at a discount price. We will accept coins at the price not lower than $0,1 even if their cost fall at the exchanges. Such scenario is unlikely because each BUR is tied to the equipment, so is liquid and naturally demanded.
Real assurance makes coin an effective financial instrument. The token is tied to the real equipment, not to sexy words, as in many other projects. At the same time, the class of a coin is utility as it doesn’t grant the rights for a share in the company. Focus on internal circulation gives a number of advantages when passing the Howey test, though we also don’t intend to refuse the large exchanges. The exchanges will help to scale a turn, will give the chance to extend tokens in the global market and to expand the client base.
All the money received during ICO are put into work immediately, so everyone will receive the multi-miner Papa Carlo as soon as possible. We attract capital for expansion of the already operating production. We will begin to exchange tokens in the first quarter of 2019 when the first batch of the equipment financed by the community is ready. Papa Carlo price for all participants of ICO will be fixed on $1750 while the market value is expected to be approximately $2350.
BUR token of the ERC20 standard will be released on Ethereum blockchain. It is safe and secure technology with broad functionality. During ICO the cost of 1 token will be equal to $0,1, the total issue — 250 million coins, and HardCap to be $18 million.
Start of ICO is planned in fall of this year. Until then we will finish all necessary preparatory work to put on the market the most qualitative and reliable product.
BBS team has already begun presenting Papa Carlo multi-miners at exhibitions and forums. The result of the first display — the memorandum on the purchase of 11 thousand units of our equipment. ICO and advertising campaign have not started yet, but BBS has already (!) received preorders for more than 10 000 miners. It is itself is an important signal for any investor.
ICO initiating remains a disputable topic for the companies from the real economy. There are already several successful cases.
We will begin with ICO of a farm of Kolionovo from the Moscow region. They were the first in Russia to combine blockchain with the real sector successfully. The team led by Mikhail Shlyapnikov raised funds for the creation of “Kolionovo’s Ecosystem” that will enable purchasing agricultural products by cryptocurrencies. ICO was carried out on the Waves platform, it lasted for 30 days. Audience was the whole world. 103 founder has given 401 bitcoins to the project, at the end of the tokensale its price was about $510 thousand. HardCap was comparatively small because, according to organizers, it was only the experiment. It has come to the end quite successfully — funds have been raised in a month. After that, the farm began to accept the tokens as a payment for agrarian production.
One more example — the ZrCoin, project of refinancing the oxide of zirconium production, started by the Chelyabinsk industrialists. According to ICO initiators, they required crowdsale to compensate $3,5 million in borrowed funds without selling a share of the plant.
The campaign started in spring 2017 with the ZrCoin token price $1,4. Each coin has been provided with 1 kg of synthetic dioxide of zirconium (about $2,8 at a market rate). The stated sum of $3,5 million has been collected within a week ($1,5 million in the first day). General result: the team gained $7,5 million in cryptocurrency and established ZrCoin company responsible for the reconstruction of production. The plant is being constructed on the means of the crypto community, so ICO was successful.
Let’s compare these cases to the Papa Carlo project. For a farm of Kolionovo ICO was an experiment, therefore, they haven’t decided yet how to spend the raised funds. Our purpose and estimate are clear: we start crowdsale for expansion of multi-miners production.
ZrCoin has raised necessary funds, but couldn’t promote further. They have not started to exchange their tokens for zirconium even in a year. Management refers to difficulties with registration.
Our case differs in existence of already effectively working Buratino Blockchain Solutions company. We won’t spend time on registration because everything is already working. Our main activity is directly connected with crypto industry — we understand features of this market.
Let’s sum up
Blockchain technology will help us customize the clear and transparent system of multi-miners distribution. Cryptocurrencies, in turn, will help to attract the capital without the necessity to sell a share of the company or transfer the property as a deposit.
The BUR token remains a utility, however, has big chances to grow after the start of the exchange auction thanks to provisioning by real assets — our equipment. Successful practice of other companies demonstrated that combination of ICO and the real economy is quite effective if implemented thoughtfully.
Project website: https://buratino.io
Lite Paper: http://buratino.io/static/files/1page-en.pdf
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