The news has reached us that Billcrypt is reaching the final phase of his ICO, with which he intends to raise funds for an ambitious project that we are going to talk to today.
We are going to try to explain carefully what they offer us, step by step, as to some extent it can be complicated.
What problem existed?
For Billcrypt there is a big problem of disconnection between several sectors that should be working together in the blockchain sector. Partly because we have companies that have detected a need for blockchain-based services, or simply at some point need to implement a trust-based solution. And partly because we have the blockchain service providers, which as the sector matures are larger and have greater capacity to provide different proposals. Even more, if we introduce investors to this equation, we realize that they waste a lot of time and money in investigating all possible investment alternatives due to current situation.
Billcrypt's value proposition
It is mainly a platform. A complete ecosystem that seeks to unify the three involved in the previous section.
Billcrypto is a platform that interconnects different blockchains making them interoprative with each other. This interconnection works with certain common characteristics.
Companies and start ups are going to have basic packages which let them to create operational blockchains to handle themselves. From this point, they can develop their own products or hire the team of experts with the specific characteristics they need.
Investors in turn will be able to have access to the financing of these projects with certain criteria of transparency and access to information in order to make their decisions.
And this is where, from our point of view, is the true innovation of this project. The interconnection of all the agents involved is done through 2 new concepts mainly: BR (blockchain representative), ViP (Virtual Image Part).
BR: Blockchain Representative
Representatives are the key figure in this ecosystem. In fact, representatives have access to project information, and can prepare their reports or have certain conclusions about the projects.
His job is to prepare reports and advice both companies that have blockchain developments. In addition, above all, regarding potential investors. These investors are going to advice on possible investments, and they will do well, because the possible remuneration depends on it. So they want to do it well because they are putting their reputation at stake. And that is the key, the reputation.
ViP: Virtual Image Part
This is where the reputation key comes from. Each of the BRs will be encoded with a token. We would say that your reputation is quantified and that way you can increase or decrease in value according to your successes and as reliable as they are.
In this way, investors can turn to them when choosing correctly the project in which they invest. They can compare the value of the VIP of the various BRs, and hire the one they deem appropriate, and then evaluate their ability to continue modeling the ViP of that particular BR.
Each BR has a great motivation to do a good job and be valued and also be able to charge more for their work, of course.
Therefore, we have already built the basic mechanism that will make the system works; nobody wins by not fulfilling their obligations.
Their Token and the ICO
The Billcrypt system interconnects blockchains based on Solidity, the programming language of the Ethereum network smart contracts. The BILC native token with the following characteristics will be used for this operation:
We have two ways to acquire BILC tokens.
They can be acquired during the ITO phase of the project, in which you can send ETH to the platform's smart contract, and immediately receive the tokens at the address from which the payment was made.
On the other hand, tokens can be obtained by collaborating with the project and with the popular "bounty". For which we will have to register on the page and access the jobs and tasks they have available.
If you are looking for a place to invest or to make a career as an analyst, this may be your place.