STEEMIT CRYPTO ACADEMY SEASON2 | WEEK 3: HOMEWORK TASK for @imagen
Hi steemians,
This post is a homework task entry for @imagen by @bibsonhabib. Special thanks to him and all the SteemitCryptoAcademy professors.
THE WHITE PAPER OF THE PROJECT
A whitepaper is an informative document or guide issued by a non-profit organization which educates the reader about the company's information, like its goals, vision and objectives.
A good whitepaper is very crucial for a startup company that needs to succeed as it gives investors a good/ nice image of the company and hence investors are ready to invest well.
Blockchain Project Name.
BIBCOIN is the name of my project. A cryptocurrency which would be used for payment of goods and services and also seek to make boarder payments and payment of remittance very fast and effective.
It would be run on a blockchain and will seek to process a maximum of 10 transactions per second for the start and as time goes on we will upgrade our system in lieu of the increasing user demands.
All users will need to get started is to purchase an amount of BIBCOIN tokens and they are ready to go. With this tokens our users can send funds to users in other countries very quickly, we will also try our best to merge with the famous local and internationally recognized banks to cater for users who are not on the platform, so users who are not on the platform will have their funds or payments sent in BIBCOIN tokens to their banks, who in turn will convert the BIBCOIN tokens into their currency equivalent.
Users on the platform will also have their accounts connected to their banks, so they can purchase BIBCOIN tokens anytime, anywhere at their own convenience.
My Proposed Team for the Project
Bibson Habib (CEO and Co-founder)
Hydra One. (Systems Administrator and Computer Analyst)
Massachusetts (Financial Advisor)
Farhmade. (Technical advisor and Public relations Officer)
The BIBCOIN project will run on the ethereum blockchain network.
Our Contact Addresses would be:
Web address: www.bibcoin.com
Facebook: www.facebook.com/bibcoin
Instagram: www.instagram.com/bibcoin
Steemit: www.steemit.com/bibcoin
Number of Tokens to be Produced
For the start, 100,000,000 tokens would be produced, 50% of which would be sold at the ICO launch.
15% would be given out to the general public during advertising promotions on social media, where a person just has to create a BIBCOIN wallet and get some free tokens.
25% would ne allocated to our team an the remaining 10% would be stored for future use as an emergency fund to be used in critical situations like a market crash, where some these tokens would be pushed into the platform to keep the price of BIBCOIN stable.
TOKEN PRICE
The price of a BIBCOIN token would be one-tenth of a dollar ($0.1). But good measures would be put in place to raise this value by 10% i.e ($ 1) in its first year of circulation. New tokens would continually be issued to keep the price stable.
ROADMAP
The roadmap of the project is spread out in one and a half (1.5) years. Below is what it entails starting from the third quarter of 2021.
3rd Quarter 2021: The project would be launched or kick-started. The project would start to be advertised on news and also on social media.
Our promotional videos will also be shared on Instagram, youtube and all the popular video sites. 10% of the total tokens will be given out as rewards to the general public, who are to follow some steps in order to claim them.
Special rewards would also be given to people who work tirelessly to promote our content.
4th Quarter 2021: Our whitepaper will be made available to investors and our ICO lauched. 50% of the total tokens i.e 50,000,000 tokens would be sold outrightly to investors.
1st Quarter 2022: We would seek to list the project on one of the best decentralized exchanges which is uniswap. The company will also see to it that BIBCOIN is listed on both Binance and Coinbase, 2 of the most successful exchanges online, considering their 24-hour volume of $37,961,586,543 and $3,756,746,029 respectively to make our coin famous and also become an option for traders on these platforms.
2nd Quarter 2022: Famous local and international banks would be met to allow users on our platform who use these banks connect their bank accounts to our network to enable them fund their wallets easily. A request would also be made to allow BIBCOIN be a means or mode of payment to send money to others through these banks.
3rd Quarter 2022: New tokens would be created to cater for our growing user population. Our systems would also be upgraded and security experts hired to ward off hackers, thereby ensuring security on the platform
4th Quarter 2022: The company will now meet online stores like Amazon, Alibaba, Apple, Netflix e.t.c to allow BIBCOIN become a payment option on their sites used to pay for their goods and services. This will result in a very high liquidity of BIBCOIN and thereby increasing its value.
CONCLUSION
BIBCOIN is a very wonderful platform that would be designed to suit the needs of investors. With low transaction fees to be charged, greater liquidity and easy accessibility, i believe it would become one of the most successful blockchain platforms in years to come.
Thank you for your time.
My regards to professor @imagen and all the crypto academy professors for their educative courses and content.
Your comments and suggestions would be highly appreciated.