Topic: I/O Coin - Ticker: IOC - Stealth Blockchain Ecosystem - Dions - Chameleon - page 96. (Read 719184 times)

Hi,

Thanks for your questions.

When the project was started 20 months ago in 2014 (yes, 2014!) we were learning as we develop. Thats the nature of breaking new grounds in this kind of development. Falling down and getting back up. In a startup phase you just go with the flow and do everything in a way you see fit. If i may say, we succeeded greatly this first phase. If you look at all those scams, big ass ICO's and never delivering something usable, we have done a good job. An outstanding job.

As development progresses and the approach is more professional and outlasting other initiatives, the business side, financial side and organizational side becomes more important. This is the phase we are entering now.

Our aim on this stage is to become an official non-profit organization.
We are currently working out the details of the I/O Digital Foundation.
In this way external parties can donate development money to the foundation and we secure a good corporate structure and official guidance through the decisions we need to make as a team. Creating a foundation is also very important for the Blockchain software development what we do and our aim to create a full Blockchain eco system. We have some extra ideas on this as well. Details are currently only known by the team.

We have plans to create a business side of I/O Digital as well and make ourselves payable from that business somehow. Details are discussed in the team as we speak. My personal ultimate goal is to get sufficient funding to make the full team payable and quit my day job. Then i can go full time on I/O Digital. This is also what is applicable for the rest of the team. We have some announcement for that part in a few weeks as well.
 
So, how to make money:
Probably when we have external funding in the foundation we could pay ourselves a little management fee. Next to the foundation we will have a company representing "blockchain development" and companies paying us to help them with spinnig up their own Blockchain and connecting it to the Blockchain of I/O Digital. We will be the technical company for their Blockchain. Also when there are things to be changed in that chain they can knock on our doors. Payed services. We have some more ideas and possibilities like our own Blockchain patents. We are currently working on that as well.

We don't earn any money on what we do with the project. Not a penny. We havent had any ICO or pre-sale. We have our own privately bought I/O Coins. All bought on exchanges and are staking them. No intention from the team to sell those coins. We only spend money from our own pockets to develop, design, internet sites, printing, everything!. For more then 18 months already!!

We spend every free hour on the project and even take days off from our day job to go to meetings like the Fintech Awards and have meetings with investors and interested businesses. If you see how much time we privately spend on the project and how much we could have earned when these hours would commercially be sold, then you would be astonished. Last but not least all the spare time that we could have spend with our families. (don't tell my wife). We have working days for over 14-16 hours a day each. This is because we love what we do!

This is also why we greatly appreciate all that is done and provided for by the community. How small or big, unpaid help is really appreciated and eventually part of the big picture. Thanks for helping us out in every way you can!

About your own sidechain:

So, if you are creating a sidechain for example and want to connect it to the I/O Digital main Blockchain and use services of the I/O Blockchain to store data for example, then for every kb stored you pay fees. Fees in I/O Coin. So you need to buy I/O Coin and send those to the network to pay for your storage. These fees are distributed amongst the stakers. Not the team!! (but we are staking as well, so we get a tiny bit)

I hope this explanation shines a bit of light on what we are facing, how we are dealing with things and our future ideas.
Your advices or ideas are more then welcome.

One thing is for sure: we are here to stay and we are happy that you guys are around to support us

Richard

Here is a link that should hopefully answer your question  

http://www.moongiant.com/moonphases/April/2016/

when moon again   

I/O coin has good potential.

I think the "profits" (as such) are generated from the people who use the Sidechains, require IOC to run them  (like Ethereum has GAS).
And also there will be small fees for data usage.  Hopefully  Richard or Joel or Sam can clear that up.

Really good question.

PS: Guys,Gals and Transgenders........ if you have not done so already.

Check out the I/OCoin, You Tube Video Update about the European Fintech Awards , from your Host with the Most!
And all around Great Guy and Captain of the $ioc Boat, Joel Bosh!

WATCH > https://www.youtube.com/watch?v=0Fi-2g71Cuk
Please Leave support message also.

Question with chameleon side chain, I will be able easy create a Uber service for my local area on my private blockchain.? As IOC as the company how does your company make profit, is it from selling plugins? or do you hold coins? or percentage of fees?

KEEP VOTING FOR I/ODigital  (IOC)

Help I/OCoin win the "people Choice" (not sure the correct term, but that's close) AWARD!

http://100.fintech.nl/category/blockchain-bitcoin

Thats the blockchain category I/ODigital is nominated in.  Simply click on I/ODigital and Vote. 
Make sure to tell all your friends and family.

Thank you.

Ok.

I was unaware I/ODigital was actually "up for an award". This is great news and they are also presenting an award, really great.  Sounds like Richard is going to have a very busy day.

Indeed,  this is the BIGGEST Event in the European Fintech Calendar, so BIG things expected to come from this. Looking forward to reading the news in the weeks after the awards. Perfect timing with the Benzinga awards a month later.

Maybe at the Benzingas mate, but just in appearance at the European Fintech Awards. I/ODigital would have made it to the short list if they had DioNS working and being used in "the wild", but since things are still in developments, I/ODigital was very unlucky not to get to the final "table".

One thing is for sure, Benzinga awards should be great in the Big Apple! NYC.

http://benzingafintechawards.com/vote/io-digital/

So you will be presenting or just being present there?

We were number one in the Blockchain category by public voting and got a free entrance ticket.
Not in the latest top 3 because we don't have a fully launched product yet and a-rank brands got the attention of the official judges.
So they preferred others. I like to say: "they made safe choices". Better vote for names you already know right ;-)

We can present ourselves coming thursday and meet people in the FinTech sector. Investors, interested people, technology adopters etc.

It is good to be present there.

Richard

So you guys making a presentation at fintech, are you in the top 3 of your category...?

nice work...and good luck at the awards..

Thank you very much to the whole development team for a great update, keep innovating guys

Thanks for the update man

Hello Community; We are preparing the wallet repo today & tomorrow after we've patched together the first couple of working name views, finally this upcoming week, we will be passing it to Ophie & Pat. We made substantial progress with the name view main panel. We created a name in the back end directly in order to drive our wallet code tests. The names were successfully retrieved from the back end and listed. There is then the new name button to allow a shift to a new panel for creating new names and data association. This is not finished yet but we will continue on. The name list doesn't look too good for now but that will be taken care by ophie in css.  We also continued on with name creation cycle from the wallet, name is the dion name, value is the data (base64 or plain text) address which is the associated wallet address and expires in the blocks to expiry
we will be adding later this week the base64 encoding / decoding ) for the wallet to allow file upload after pre processing.

Here is a current screenshot of our name creation, showing is working, the front look will be adjusted this week as Ophie and Pat come in to tweak stuff around. Overall we are pretty excited and things are looking great. This week on the backend we will be adding our messaging api and some more backend code. Pat & Ophie will start the front end clean up. As we had said before the wallet is about 90% completed all it needs is just all the clean up tweaks and some additions from the latest backend api code additions. We will soon be veting our latest candidates for the upcoming Dions beta.


Cheers!

I/O Digital Dev Team

Yes this what I was thinking, using sidechain as a token sale where people invest altcoins for exchange of a token giving I/O digital storage of value, So IOC would have value of all the alt-coins it held.  either IOC used the exchange as tether or colored coins as an asset and use the side chain token as exchange medium.
or use the side-chain token as a fee coin  for transaction on the exchange.

I think I/O as a service to complement all technologies, for too long all alt-coins are made to compete with bitcoin and fight for highest value, I been waiting for a coin that I am a share holder and the services it provides I would like to receive a divided end as a investor. I see it as Proof of investor as I invest gives the ability to create services.

A value should not be determined how rare something is or on hype and speculation. it should be on the product it delivers and the need of that product..

funny coincidence as I just bought one earlier today

I got a query from someone regarding a Raspberry Pi3. I tested the wallet on a Pi3 and it works fine.

It's becuase they sell a coin when it gets listed on an exchange for 10x-100x profit lol. More profitable than anything out there at the moment. I think their trying to get investors that are actually interested not sure how an ICO would happen. Wouldn't an ICO need coins for investors?