CONTRACTIUM NETWORK: THE CONTRACT-FUEL FOR ONLINE COMMERCIAL NETWORK.
According to businessdictionary.com, a contract is ‘A voluntary, deliberate, and legally binding agreement between two or more competent parties. Contracts are usually written but may be spoken or implied, and generally have to do with employment, sale or lease, or tenancy.’ Recently I heard that the law industry will soon be taken over by the cyber law firms who help you seal a trustworthy contract due to the innovation that the blockchain technology has introduced. I couldn’t agree more to that. There are freelancing platforms that use the blockchain technology to automate and freeze some agreed-upon amount of money in a user’s account once a project has been completed for a client. The frozen money is automatically withdrawn from your account and sent to the freelancers account once you are satisfied with the completed job. This is really a welcome development which can in a million times eliminate the conventional manual payment, underpayment for the completed task and faking a payment. Imagine what will happen if cyber criminals crack a freelancer or service provider’s account to make fake payments for jobs worth millions of dollars.
For the need of a technological platform that translates an agreement to computer codes, the idea of contractium was born. Contractium runs on a blockchain platform, the ethereum, and it is simply designed in such a way that its codes keep track of terms of agreement and automates fulfilment. With this platform, involved parties exchanges funds or anything of grate value.
THE ADVANTAGES OF CONTRACTIUM:
• When the rules are met, contractium system is designed to self-enforce some actions which has been coded into the system
• Being designed on the blockchain technology, they are strongly jailbreak-proofed, which means no one can alter what has already been programmed.
• Crypto-Reward system and Crypto-Payment gateway
• With its automated possibilities, they self-verify processes and activities.
• Token issuing
SOME OF THE CAPABILITES OF A SMART CONTRACT WHICH CONTRACTIUM IS DEVELOPED UPON:
• High level of ensured security
• Reduction of the need for a third party
• Manage user’s agreements and Support a multi-signature account which issues out funds as soon as all parties involved confirm agreement.
Apart from the Smart Contract feature which is the motherboard of this project, there are few other features designed in this platform to increase its relevance and provide a more branded look for the project. There is the Crypto-Reward system which is a more advanced customer loyalty point know as the CTU token. The Token details can be seen below:
TOKEN DETAILS
The ICO event will be in June 2018
Token Symbol: CTU
Token Supply: 3,000,000,000 CTU
#1 Current token supply for sales: 1,500,000,000 CTU (un-sold tokens will be burnt)
#2 Future plan: 1,500,000,000 CTU
ICO token price: 01 ETH=15,0000CTU
Token mining: not minable
Token amount issued: Not infinitive
Token type: Utility tokens
Token standard: ERC-20 tokens
THE 4 PERIODS OF THE ICO EVENT:
Private sales: 7th July, 2018 to 8th August, 2018
Pre-sales: From 8th August 2018 to 9th September 2018
Public Sales: not yet planned
Token Sales: not yet planned
Each of the 4 ICO periods has each bonus rate as followed:
Private Sales: +65% bonus.
Pre-Sale: +45% bonus.
Public Sale: + (?)% bonus.
Token Sales: + (?)% bonus.
TARGET SALES OF EACH ICO PERIODS AS FOLLOWED:
Private Sales: 15% of the fund.
Pre-Sale: 25% of the fund.
Public Sales: 35% of the fund.
Token Sales: 25% of the fund.
ICO & PRICING:
Minimum buying with ETH: 0.1 ETH
Mximum buying with ETH: 20 ETH
Buying above 20 ETH – Contact directly [email protected]
Soft-Cap: 2M USD: equivalent to 3000 ETH
Hard-Cap: 10M USD: equivalent to 15000 ETH
ICO price: 1 ETH = 15000 CTU
Estimated ETH price (as calculated for Contractium’s ICO): 1 ETH = 700$
Estimate ICO price of CTU: 1 CTU equivalent to 0.046666 USD
TOKEN DISTRIBUTION
Public investors/Contributors: 51%
Reserve fund: 27%
Team and advisors, partners: 22%
TOKEN ALLOCATION:
Pre-ICO & ICO 900,000,000
Contractium Team: 200,000,000
Foundation Reserved: 100,000,000
Advisors & Partners: 100,000,000
Bounty & Marketing: 200,000,000
THE CONTRACTIUM ROADMAP
The Contractium roadmap focuses on the development of the technology, operations infrastructure, new partnerships, and marketing initiatives.
January 2017: Team Formation
October 2017: Project Kickstarted
June 2018: Dashboard Release, Mobile APP Released: Android & iOS
June 2018: private Sales starts, MVP Released
August 2018: Private Sales ends, Presales Started, 10 Exchange Listing Confirmed
September 2018: Presales ends, Public Sales starts
October 2018: Public Sales ends, Token begins
November 2018: Token Sale ends, Trade on Exchanges commences
January 2019: launch of B2B S-A-A-S for business integration
May 2019: Vertical Diversifying into other businesses
THE MANAGEMENT TEAM
These are the brains behind the great project of Contractium. They have identified a living problem and have assembled together to find a solution that will breed security for online market places. There project will cut short the need for intermediaries when securing a contract online. In fact, with features like automated payments once a project is completed, freelancers have zero headache and nothing to worry about when it comes to receiving their funds for completed projects. The team members are below:
Hung V.Nguyen - Co-founder & CEO
Thanh H. Tran - Co-founder & CTO
Thien Q. Nguyen - Co-founder & CPO
Dennis Poh Wei Song - Co-founder & COO (Singapore market)
Efosa Ighodaro - Co-founder & CEO (Africa market)
Nsofor Gabriel Uchenna - Business Development Manager
Gien Tran - Blockchain Tech Lead
Victor Ugochukwu - Co-founder & COO (Africa market)
Daniel Lew - Exchange, ICO Advisor, Founder & CEO of Metamorph.pro
Douglas Abrams - VCs Advisor, CEO at Expara and Expara IDM Ventures
Franck Nouyrigat - Cryptocurrency Advisor, CEO of Recorp, Startupweekend
Khiem Tran - Finance / Fund raising Advisor, Director of Expara Vietnam
Dr. Thi A. Nguyen - Tech Startup Advisor, Director of ITP
As a freelancer, or an ordinary internet visitor, I believe you must have come across a platform that doesn’t automate payment nor help in process of agreement. What was your first thought? I would say, that this project didn’t just give me insights on how good building an e-commerce website, exchange platform or online market place can be with blockchain technology in the light of insecurity, but it also proved to me that in no time, there will be lesser to zero account of cybercrimes recorded on the above mentioned platforms. If you’re thrilled enough to want to invest on, or use a more secure platform, please take a tour around these links below for more and detailed information:
Website: https://ico.contractium.io/
Whitepaper: https://docs.google.com/document/d/10BqajJ39sen3GeulHCSxGJ7vRx9UUT4AEkbpP2OSxmM/edit#heading=h.hpqizxn29byi
Telegram: https://web.telegram.org/#/im?p=@contractium
Linkedin: https://www.linkedin.com/company/contractium-io/
Facebook: https://web.facebook.com/contractium.io/?_rdc=1&_rdr
Twitter: https://twitter.com/contractium
Medium: https://medium.com/@contractium.io
Bitcointalk thread: https://bitcointalk.org/index.php?topic=4602899
Youtube: https://www.youtube.com/channel/UCdNLXQrp7sn6lNeqOYOz_wQ
BITCOINTALK USERNAME: thankyoulord
BITCOINTALK URL: https://bitcointalk.org/index.php?action=profile;u=2076086
WALLET ADDRESS: 0x2859DD117e5E186B2dec97b50012C66D0E7597Ad