Topic: [ANN] Bitland - ICO - Decentralized Land Registry - page 57. (Read 84824 times)

Yes, we have valued the tokens at a rate where 30,000 Satoshi is STILL extremely low and has much room for growth.

The minimum we will need to get through the next 3 months is something like $50,000, an we can get through operations without having the solar powered network installed.

No coins will be burned, as the budget isn't really changeable.  If all 21 million are not sold during ICO, 1/12th of tokens left will be released per month to be sold at price above ICO price so market is not flooded, but the project will still be able to get the funding within the next 12 months.


If only 3 million tokens are sold, the 9 million that are left with the company have been alotted so that they are not distributed for the next 99 years.  If 3 million were sold, the 3 million would still outnumber the tokens released by the company within the next 12 months.

Out of the 9 Million left with the company, 2 million are allotted for payment of contractors/workers from Bitland.  The other 7 million are allotted as follows:

- 3 Million Designated to Smart Contract Oracles distributed over next 99 years
- 4 Million For Reserve for Governments to buy tokens, then pay out contracts through Bitland
Global GUI/Hardware

Since the supply is capped at 30 million, and the tokens that are meant to be sold have a designated cost associated with them, burning the tokens would only serve to reduce the supply a small bit, and in turn the project would probably not see the full budget.  In the case that the tokens aren't sold completely the 1/12th per month release will ensure that the price doesn't see a major dump because too many tokens coming on the market at once.

As far as trying to hit other exchanges, we've already submitted our requests for Poloniex and Bittrex, but it takes a LOT of community activity before they will add a token.  Really, we have absolutely no control over being added to the big exchanges.


Cheers!


Chris

Some other question which come to my mind :

-Do you really think that after 3 tmes increased in price people will still invest in ICO?

-Is there a minimum amount required to launch the project?

-21 millions coins for ICO / 9 millions for running the company, what if you sell only 2 millions coins even after phase 2, will you burn the rest? Keep it for yourself?

-Also if only 3 millions coins sold then 9 millions coins represent a huge part of the company, the ratio 9/30 would be totally different ( like 9/12), wouldn't it be a problem?

I think that's why they call it a pilot

Very interesting project !

This is where blockchain is usefull.

However  I have some difficulties to understand the economics behind this project.

You will find below what I understood, thanks to correct and/or complete :


Crypto economics :

People invest in crowdsale and at phase 1 get 10.000 CADASTRAL per  BTC invested then 20% of profits made by bitland will be given to share holders proportionally to their share (The token has no value else than to get these 20% profit, thought price can vary depending on the succes of bitland).

This part seems understood on my side.


Real world economics :

Bitland will register land title on blockchain to get the trust of the bockchain and a way to lower the cost.

You will physically see people and register their home on the blockchain and owners will pay you to do this job (this is how the company will get rewarded), you will actually act as a a notary . On this part I am wondering if government has already confirmed that the land title on the blockchain will be recognized?

I will think for few days about this project but I am pretty enthusiastic to invest for that kind of project.

Any exchanges you planning to hit after phase 1?

I'm not saying that I'm "old", but I have had enough years on this planet to do a LOT of things, lol.

Yeah, that's how I'll say it

Cheers!


Chris

How many people you know that perform in a Predator mask?

I do happen to be on a music label as well as other things.


Cheers!

Chris

LOl, u kidding me

Thanks for the kind words!

We know that once enough people see the potential in the application of the blockchain to fight government corruption, it will only be a matter of time before we get all the support we need.

Cheers!


Chris

This looks like a fascinating project. Interesting to see how it goes.

More articles about Bitland are starting to pop up:

http://www.enterpreneurialand.com/bitlands-african-blockchain-initiative-putting-land-on-the-ledger/

http://www.helenabitcoinmining.com/2016/04/07/bitland-blockchain-initiative-seeks-to-create-reliable-land-titles-in-africa/

http://bravenewcoin.com/news/blockchain-initiatives-going-mainstream/

http://techbackoffice.com/bitlands-african-blockchain-initiative-putting-land-on-the-ledger/


Cheers!


Chris

It's officially 14 days left in Phase 1.


There is a countdown clock on our website if you ever want to see how much is left in Phase 1.

bitland.world

The following link is the "how to purchase" instructions.

www.bitland.world/how-to-purchase-cadastrals/



Cheers!



Chris

You can follow the sale at the following link:

http://cryptofresh.com/u/ccedk.escrow

You are correct, it's coming up on 300,000.

Cheers!


Chris

Where can I follow how many Cadastrals are currently sold?  Is it little over 300 000 right now according to ccedk.escrow ?

Cadastrals will all be sent out after phase 2 completion.  Will be sent directly back to donor wallet on CCEDK/Openledger.  This is why we are doing the ICO this way, as it directly allows CADS to be sent right back to the account which sent the BTC.

Cheers!


Chris

when CADASTRAL delivered, after June 1 or part is distributed after May 1?

as delivered within Openledger or CCEDK will send them to the donor wallet?

If you look at the number of contributors, there have actually started to be a significant number of contributors so far.  I am extremely thankful for everyone that has been a participant so far, and look forward to anyone who contributes.

You can follow the contributors/escrow here:
http://cryptofresh.com/u/ccedk.escrow


Cheers!

Chris

Here is part of the Forbes article about Bitland:


A new Blockchain-based initiative in West Africa aims to stamp out corruption and is touting to “free up trillions of dollars” in locked capital for infrastructure development. It’s a bold stab by a bunch of tech pioneers from the US, Denmark, Ghana and further afield at fighting government corruption and empowering people through legal ownership.

Blockchain technology, which underpins Bitcoin and has been the inspiration for other cryptocurrencies, functions as a powerful decentralized ledger that records every transaction and stores information on a global network that cannot be interfered with. Not surprisingly a number of banks see blockchain technology as being ripe to be leveraged in areas including exchanges and remittances.

As such, the blockchain offers huge advantages in cost, transparency and reliability thanks to the “immutable nature of decentralized ledgers” according to one of the pioneers behind the new initiative, Ronny Boesing, CEO and founder of Danish cryptocurrency exchange CCEDK.

However, these benefits often fail to resonate due to the markets targeted and the way in which they are communicated. Still, the project from Bitland, a development platform embracing an educational initiative, aims to show the local population how the new technology can bring their country into the future. The mission itself has been outlined in a 22-page white paper.

“Bitland puts the human element back into the decentralization movement by bringing blockchain technology directly to the people, face to face,” says Boesing.

The organization reveals that its goal is to provide services that allow individuals and groups to survey land and record title deeds on the Bitland blockchain – providing a permanent and auditable record – as well as acting as a liaison with the government to help resolve disputes.

Signature changed - PM incoming!

Thank you for doing this.

Here is some more information on the Land Administration Project:

The objective of the Restructuring of the Land Administration Project for Ghana is to undertake land policy and institutional reforms and key land administration pilots for laying the foundation for a sustainable decentralized land administration system that is fair, efficient, cost effective, and ensures land tenure security. This phase of the program will focus on the effective implementation of the policy and institutional reform agenda in the sector, whilst carrying out some pilots in connection with, inter alia, decentralization of deeds registration, systematic titling, demarcating allodial boundaries, reducing backlog of land disputes, alternative dispute resolution, community based land use planning and management, development of a computerized land information system, establishment/strengthening of customary land secretariats, inventory of state acquired and occupied lands, revaluation of district assemblies' properties, and establishing geodetic reference points.**


The World Bank has set aside something like $350 million to fund projects like this.  They have to get through pilot phases in order to get the major funding, so "Bitland" is in the pilot phase.

The way we have set up the infrastructure, any major contracts that the Bitland team secures will directly benefit the Cadastral community.

Ghana is not the only government that we are currently in talks with, but that will be a press release when the time is proper.


Cheers!


Chris