Topic: Planning an ICO ... Need some tips (Read 263 times)

"By merging it with Internet of Things tech" is a blanket statement that honestly doesn't explain anything.

Be that as it may.

Your solution may be probable -- which is hard to asses without concrete information -- but unless you already handle billions of transactions a day you have not "done it".


Regarding the ICO itself: There are many ICOs that start out with just an ANN thread and community work, but if you want to get real attention you should at least have a white paper ready.

 Thanks for the link Miller , and I understand that this project will cost me several hundred thousand and also understand I need a working prototype. When I say it's blockchain + merged with IoT , I mean it's combined with tangible assets . Which I can display a video of a how the process works on our website when we get to that point. I have a small team now. And, was seeking in depth advice than what I already knew , but guess I'll just go with what I understand already . I know quite a bit about the process and what I need to do and was hoping to get some feedback on different ideas on different coins I could go with that would still work with an ICO , and other information .

   I appreciate the comments ..

Dillon

 

My advice is think again.

ICO's are becoming a professional thing. You need a decent group of people, with knowledge and skills related to the area.

You also need few hundred thousands for marketing, if you don't want to sell of your tokens for peanuts, ending up to destroy your project.

Then you need to work hard for 6 months, spend a lot of time and money, to get the ball rolling.

Best introduction is to prove that your tech is working. Other than that it's just another vaporware. And what do you mean by merging with IoT tech? specifically which tech based on?

you need to have a team working with you bacause you cannot make developement, marketink and partnerships alone!

you need also to make a prototype or demonstration not only idea or roadmap!

i wish you the best

  I think it even has potential for miners to earn at rewards which can be used at participating retailers, Say Target "licenses" our tech for X amount per month, and miners could earn possibly earn universal "reward points" which can be used at ANY of the retailers, Or just stick to standard coin rewards. The mere fact that the retailers will be having to convert from fiat to our coin will cause our coin to rise in value drastically , and the value will be in the billions.

   If the retail sector lost 55 billion alone in losses last year. I imagine the losses on a global scale are fairly large and I could see many retailers paying a decent rate to even cut there losses in half.

   
   Also, this isn't a technology that will just be unleashed and stop theft and fraud at every retailer around the world. Each retailer will have to PAY us to license it and apply it from us, converting their fiat to our coin. But, trust me IT DOES WORK. And, I will have to patent it just to insure no retail giants copycat it and try to take us out of the equation. I've already looked into and it can be patented . So, we will have the legal rights to it.

 
    Now, I'm just trying to figure out the best type of coin to create , best way to go about having an ICO , build a community behind this and get the momentum rolling.

Dillon   

 

         It is probable and I have done it.. By merging it with Internet of Things tech.. And it will STOP retail theft and fraud 100% by whoever implements it, and it will not take an enormous amount of effort and cost to implement.

         My question wasn't if my tech was possible.. I know it is. My question is what would be the best way to introduce it to the crypto-world as a currency through an ICO

Not probable.

Do you know many billions of transactions are done daily?    How would a blockchain deal with such volume?

   When I speak of patenting the system it would be to insure retail giants did not implement their own private "inner blockchain system" using the same technologies. So, the patent would be for protection of the overall process. Because , our technologies is disrupting an entire industry and revolutionizing the way manufacturing / distribution /retailing process is done. Saving billions of dollars. I have yet to do the math of the worldwide losses ( which I need to do NOW ) , but in the US alone losing 55 billion to retail theft and return fraud puts a high demand and HUGE value on what we will be offering.

   I may just keep it a coin when a company licenses our services from us for X amounts of millions per year , require them to convert their fiat to our coin. With no intention of selling to ANY company at ANY price. But, obtaining a patent would be essential even if our project is a crypto decentralized market to keep retail giants from copying our tech and using it themselves . A patent gives this technology the protection against that.
 
   With that being said ....

   Can someone offer me a standard ICO process guideline.. If I do not proceed with the concept above I also have another concept which may be better suited for the crypto community .

  Would I start out with an ANN and Slack / community pages and building a community first ? Or would I develop the token and site / white paper / road map / application/ than start with community involvement?

  Is there a popular freelancer site to hire reputable people to bring on board for your team? Just curious , I have a couple people on my team already but would like to bring in a few more with some strong reputation in the community already.

Thank You
Dillon

What makes you so sure that your ICO won't be classified as a security? Because this part:


...doesn't sound like it would pass the Howey Test.

Or will your ICO participants simply receive the same utility tokens that will later be used by retail businesses to pay the theft-prevention-blockchain -- meaning the expected profits come from investors selling utility tokens to retail businesses?

Be prepared to answer some tough questions. An existing prototype / "alpha" version will be helpful. And a lot of ICO investors will wince at the patent thing because we've all gotten so used to open-source, decentralized things that can be replicated and the existence of patent trolls is proof enough that patents can be abused. (A truly good system would not fear competition.)

  I've developed some blockchain merged with internet of things technology that will completely END retail theft 100% . From employee theft , consumer theft to return fraud. Last year in the U.S alone the retail industry lost around 55 billion dollar to retail theft/fraud.

  With that being said, I was going to pursue a patent and just try to license it or sell it , but being it is based around blockchain technology I could much more easily create a coin for it and have the retailers license my system converting their currency into our coin ( Or if I decided to sell the patent all the current token/coin holders would make a very large profit ) as I'm not planning on selling a system that STOPS retail theft/fraud 100% saving the U.S retail sector over 50 billion alone for cheap.

   Now, back to the ICO..

       Developing the technology will not be that difficult , neither will be obtaining the patent . I would just like to know with a project like this what would be the best way / steps to approach an ICO and the crypto community ..

       I would really like to start moving forward on this , and I don't think this ICO would classify as a "security" according the SEC's definition for U.S participants. It could still be listed on exchanges and traded and all the same potentials as any other coin but with some chances of some BIG gains , even if implemented by smaller retailers at first.

      Any input on the best way for me to go to about a proper ICO with this project would be greatly appreciated. I want to insure I have a strong community involvement and backing , a solid team and plan of operation .

Thank You
Dillon