ethics for 2019 cryptocurrency community

applechild (39)in #cryptocurrency • 6 years ago

ICOs spring up consistently and some without bearing. As a result of this, we are forced to witness ICOs that should not run in the first place. One may begin to think about whether there are no standards and directions set up to guarantee orders are obeyed in the crypto network with respect to ICO.
Eqwity has developed four phases which shall be employed to bring about a positive change.

Ethics: Eqwity breaks into the middle to introduce ethics with ICOs to amend the deficiencies in the present structure
Decentralization of administration so investors can have an input.
The launching of a decentralized tokenization exchange for companies and lastly;
Assisting upcoming Blockchain projects to achieve their goals.

Let’s get some additional details for better understanding.

Ethics: we introduce an Initial Coin Offering to be powered by Eqwity Airdrop. This will enable the building of a consensual pellucidity where there is a level playground for the investor and well as the project founder. This new ethics will include what is termed “Proof of validity” (P.O.V) in addition to the P.V.O which will contribute to fund raising in a consensual bilateral openness, two way trust and voting right dividends investors.
Why Bilateral openness?
You can bear me witness that in the crypto market today, it is the investors who undergo KYC and AML. The investors are always the one exposed to the risk of loss and eventual scam. He is treated as a suspect, whereas the system is deeply fraught with numbers of failed project and this, the investors bears the loss. Bilateral will therefore mean that the founder also have to undergo what we introduce as Know Your Founder (KYF). The investors will now have something to hold onto about the founder.
The Know Your Founder process will include;
Identification verification
Background verification
Police record checking.
This process will be done by a third party in a way that it cannot be tampered with. The achieved result will be published on Blockchain community.
Decentralization of administration so investors can have an input:
We also witnessed the situation of neither voting right for the investors, nor dividends in case of profit. It feels like the founders see the efforts of the investors of putting in their hard earned money into projects they are not sure, the founder handle this as though he is doing the investors a favour. The investor’s investment lies at the mercy of the founder.
Eqwity now introduces Bidirectional trust via neutralization of both the investors and the founders striking a balance in the system.
It will now follow that; the investors are free to buy tokens for future use and also qualify to have real shares thanks to the Eqwity Airdropping.
The Eqwity Airdropping is a means for free circulation of shares to investors or those who offered their financial support to the founder.
This is a new face of ‘thank you gifts’ for all investors to receive after buying the founder’s token for projects. This way trust in the system will be preserved.

In my explanation on ethics above, I mentioned Proof Of Viability. I want to give extra details before we move on to other content that concerns Eqwity and the community.
Proof Of Viability is a means of curbing project failures. In recent times, many projects have crumbled and to safeguard against such failures is the purpose for POV for the good of the community.
How it works:
Once a project is submitted, there are some standard it has to meet hence such project will be audited in parts such as financial sustainability plan, product market fit and the economic value of the token involved. Once verification of these parts is complete, the project will be unsystematically sent to the Blockchain auditor, financial auditor and market auditors according in field blocks to further authenticate the process to cut off failure and other unwanted fallouts.
For the auditors who are new also need to be verified via checking his background, skills, identity, and equally project audit simulation.
The financial sustainability plan earlier mention is to check that projects are self-financing to avoid what is presently destabilizing the community recently. A situation where many projects fold up as a result of lack of finance to continue, leaving the community and investors to suffer loss.
In a situation where audits are more in a particular block, they will all compete with each other to prove their competency, and then the best three of all will be selected as safeguard auditors for the community. If any Auditor is found in a fraudulent act or behaviour, then he will be banned from the community.

Here are the steps to make auditable projects available to the public.

The launching of a decentralized tokenization exchange for companies. Included under the subheading as read on Eqwity whitepaper is the Blockchain Stock Exchange which is said to be the first Eqwity dedicated exchange to most capitalized Blockchain Companies. The Blockchain Stock Exchange has two newly included indexes known as BSE30 and BSE500. While the BSE30 is list the third most capitalized companies in the industry that have tokenized their equity, BSE500 on the other hand, will list five hundred of those that follow the BSE30. The BSE will make for easier transaction using its smart contract to ensure transparency and real-time updates for companies at a very fast speed of transaction.
Assisting upcoming Blockchain projects to achieve their goals
As part of our objectives to help upcoming project to raise funds through ICO.E (Initial Coin Offering + Eqwity Airdropping, it therefore follows that if a founder intend to use our platform for this purpose, he will need to submit his project online with details to all the requirements to enable a better auditing. Such founder or team must have at least 10 Eqwity toke in his wallet to permit him to submit project.
The audit team will run all the necessary check and verifications, where POV is included. For extra details see the whitepaper: https://bit.ly/2C59Dbr or use this link: https://www.eqwity.io/wp-content/uploads/2018/10/Eqwity_WhitePaper_ENG_1.0.pdf
and the end of the processes, the fund will be transferred to the founder’s wallet provided where the private key is kept safe by him, at this juncture, the founder is accountability on how the fund is put to use.

Other significant expanse you need to know about Eqwity

Community voice: This is another method for having the community input decentralized in privately owned businesses. So that later on the financial genii will have a say in the network and help create a connection between the investors and the founders powered by smart contract utilizing the artificial intelligent present on Eqwity platform.
The community voice has features that will enable it function properly such as real governance where an investors is said to be “one investors equals one voice” principle. Followed by community opinion sharing where opinions are indeed share; the Hi, I’m Serenity Feature which is powered by artificial intelligence.

The Block: This is a power means of incubating the successes record on Blockchain platforms and prolong the survival time so that projects do not crash or fail any more as it is happening in recent times. Eqwity wants to sustain the successes. To achieve this, there are other processes that will give the desired success such as;
a. Building success via the block is a means of reducing the failure rates in projects from startups due to lack of proper preparation and many other factors.
b. Mentoring: a mentoring program is available to help those projects have a direction on the platform.
c. R&D Lab by the block is to help international researchers and innovators to improvement in their innovations. Etc.

Eqwity token facts and uses:
The four ecosystem present on Eqwity platform will need the token to effective transact on the platform; ICO.E community, the Community voice, the Blockchain Stock Exchange and the Block.
These four categorized community is made up of the investors, the auditors and the founders.
For founders in the ICO.E, token will be used to submit project and must hold at least 10 EQY, pay for voting in the community voice, 1 EQY equals one vote, so the higher the vote, more of the EQY token, pay listing fees on BSE, and receive Pre-ICO investment.
For Investors: the token will be used for community listing fee in the ICO.E ecosystem, used for voting in the community voice, buy shares in the BSE.
For auditors, they will receive EQY as payment for their audit works.
Token symbol: EQY
Token type: EOSIO utility token
Token sale:
Accepted currencies for purchasing of EQY token, USD, Eth, BTC, BCH, LTC, ETC
Token sale volume: 3,125,000,000 EQY
Token supply: 6, 250,000,000 EQY
Soft cap: 6,000,000 USD
Hard cap: 16,000,000 USD
Moon cap: 30,000,000 USD

The sales is divided into three stages viz; the private sale, presale, public sale. As the stages differ, so does the bonus for each stage. To find out more please visit: https://www.eqwity.io/ or https://bit.ly/2C59Dbr