Hi Everyone,
So as mentioned earlier in the week, I want to start talking with you guys about some of the ideas we have came up for with the roadmap so below is a rough overview for the main idea we had. Feel free to discuss on the thread and also I have made a channel on our slack to discuss it, if you havent joined here is the link:
https://renos-team.signup.team/
The main target we've come up with to complete within year one is to create a crypto credit union. Credit unions are essentially community based banks which have no shareholders to please meaning it provides and shares profits with its members. They are common in towns and other small communities. Creating a cryptocurrency version of this keeps our message of community strong and opens this up to people on a global scale, something which has never been achieved before.
The way it would work is by creating a token which people receive in exchange for "depositing" their Renos into the union which is withdrawable at any time. The union then works to grow its funds and can provide services such as loans through the binding of a smart contract with a form of collateral in place such as an asset or identity. The first step would be to develop a smart chain for Renos and then create the token on the network. Upgrading our blockchain like this gives us potential for further growth and expansion into new projects and sectors.
The main challenge is finding those with the skills to help deliver this cost and time efficiently. This is where we would be planning to allocate most of our development funds to but once we have completed it, the credit union gives us the opportunity to replenish funds and use them for further projects. We want to achieve this with the funds we have and don't want to ask the community for money by creating some sort of ICO, although people are welcome to donate or offer us a funding deal. We are open to working with other coins to reach the goal of the credit union in return for accepting their coin as a currency to the credit union.
With the completion of the credit union I also want to make the Renos foundation which will be the core of our operations. There are areas I want to keep working on such as our social tools and developments and other services around the coin such an online wallet etc. I really want to hear the communities thoughts on ways to improve or add to this so that I can go about developing an official whitepaper/roadmap with a solid plan of action.
So as mentioned earlier in the week, I want to start talking with you guys about some of the ideas we have came up for with the roadmap so below is a rough overview for the main idea we had. Feel free to discuss on the thread and also I have made a channel on our slack to discuss it, if you havent joined here is the link:
https://renos-team.signup.team/
The main target we've come up with to complete within year one is to create a crypto credit union. Credit unions are essentially community based banks which have no shareholders to please meaning it provides and shares profits with its members. They are common in towns and other small communities. Creating a cryptocurrency version of this keeps our message of community strong and opens this up to people on a global scale, something which has never been achieved before.
The way it would work is by creating a token which people receive in exchange for "depositing" their Renos into the union which is withdrawable at any time. The union then works to grow its funds and can provide services such as loans through the binding of a smart contract with a form of collateral in place such as an asset or identity. The first step would be to develop a smart chain for Renos and then create the token on the network. Upgrading our blockchain like this gives us potential for further growth and expansion into new projects and sectors.
The main challenge is finding those with the skills to help deliver this cost and time efficiently. This is where we would be planning to allocate most of our development funds to but once we have completed it, the credit union gives us the opportunity to replenish funds and use them for further projects. We want to achieve this with the funds we have and don't want to ask the community for money by creating some sort of ICO, although people are welcome to donate or offer us a funding deal. We are open to working with other coins to reach the goal of the credit union in return for accepting their coin as a currency to the credit union.
With the completion of the credit union I also want to make the Renos foundation which will be the core of our operations. There are areas I want to keep working on such as our social tools and developments and other services around the coin such an online wallet etc. I really want to hear the communities thoughts on ways to improve or add to this so that I can go about developing an official whitepaper/roadmap with a solid plan of action.
Great to see these new developments, I will add this post to my blog review I did for RENOS..COIN..I think I will pop into slack later because you might be too busy to check pms now hehe and I understand. I like this project and am in for the long haul.
