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Kleros, a dispute resolution layer for the decentralized web, has announced details of its token sale. The event will mark one of the first cases of an interactive initial coin offering (IICO), designed to provide a fairer and more transparent crowdfunding model. Inspired by a system of Greek democracy, Kleros is a dispute resolution layer for the internet era. Its use cases include escrow, insurance, e-commerce, and crowdfunding.
Kleros will use crowdsourced jurors to assess the merits of a case, consider the evidence and reach a fair decision. In return, they will be rewarded in the form of Pinakion (PNK), the native Kleros token. Kleros, which means ‘chance’ in Greek, is related to the word ‘kleroterion’, a randomization device used to ensure democratic process in Ancient Greece. The Pinakion token gets its name from the identification plaques engraved with the names of jurors that were drawn from the stone-carved kleroterion.
Kleros’ innovative approach to administering justice in the digital age is as novel as its crowdfunding model. The project has eschewed a private sale in favor of an IICO which its team believe to be more in keeping with the principles Kleros was founded on. Kleros CEO Federico Ast said:
“The Interactive Initial Coin Offering was first conceived in a paper by Vitalik Buterin along with Truebit’s Jason Teutsch and Modular CEO Christopher Brown. It was designed to eliminate deep discounting and promote inclusivity. We’re pleased to report that Modular will be assisting Kleros with implementing our IICO. This means that participants will be able to set a personal cap in ether of their choosing.”
The IICO formula sees a uniform token valuation being calculated after each participant has set their own cap, based on the total amount of ether that is contributed. Individuals can set a cap according to their level of interest in the project. The Kleros purchase protocol then removes contributors whose cap was exceeded using smart contract, beginning with the lowest bids. At this stage, individuals who have been removed have the option of setting a higher personal cap to ensure inclusion.
Initial Coin Offerings are traditionally prone to oversubscription and network congestion. There’s also a risk of misaligned incentives for both contributors and developers. Kleros’ IICO aims to solve these problems, unlocking tokens gradually for the benefit of all parties. 16% of all PNK tokens will be made available in the Kleros IICO to be held on May 15th. Thereafter, tokens will be issued in tranches until 66% of the 1 billion total supply have been made available for public sale.
Prior to the token sale commencing on May 15th, a working prototype of the Kleros protocol will be released. A video demonstration explains the way in which Kleros’ dispute resolution layer will operate and how crowdsourced jurors will be selected. PNK token-holders are eligible to become jurors and mediate disputes between parties that have elected to use Kleros. By ruling fairly and correctly, judges will also be rewarded with PNK tokens. Kleros has already announced partnerships with Ink Protocol and Dether, platforms whose users will be the first to benefit from decentralized arbitration.
A cooperative incorporated under French jurisdiction, Kleros will host its May 15 crowdsale in a spirit that characterizes its justice protocol, based on the principle of égalité for all.
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REIDAO, the blockchain-based real estate company, launches Crowdvilla, a platform for shared holiday homes; Federico Folcia, former CEO of Roomorama joins advisory board to oversee the company’s roadmap and advise on short-term accommodation operations
Singapore – March 2018 – , the Singapore-based company digitizing real estate assets on the blockchain, is announcing its new venture Crowdvilla, a NPO (non-profit organization) for shared holiday homes. Under the advisement of Federico Folcia, former CEO of Roomorama – a popular home-sharing platform based in Singapore – Crowdvilla is revitalizing the sharing economy through its modern blockchain based real estate platform. Crowdvilla will allow users to book serviced holiday homes that are co-owned by Crowdvilla community members.
You may find yourself at the supermarket, when you overhear your neighbor in the next aisle raving about her “second home in San Bernardino”. Your eyes may roll in envy, but what our neighbors with second homes normally don’t announce are the hidden maintenance costs, taxes, 10% down payment, along with the outrageously strict mortgage requirements. Today, only millionaires can enjoy the luxury of a private vacation home but this is not the case anymore.
Crowdvilla is revitalizing holiday real estate by introducing a true sharing economy platform where community members can share ownership of serviced holiday real estate without hidden costs or third party organizations. As a non-profit organization, Crowdvilla is legally bound to use all fundraising for the sole purpose of acquiring holiday homes for its community.
Crowdvilla aims to collapse layers of endemic costs and inefficiencies in the current shared real estate market by using blockchain technology to record digital assets in a transparent way. Crowdvilla provides crowd-owned holiday properties, which can be utilized by all token holders. Users will be able to book beautiful, exotic holiday homes, or rooms for business using “utility tokens” known as ‘Crowdpoints’ generated by Crowdvilla Tokens. Crowdvilla will also manage the upkeep of these holiday homes, and absorb any costs such as maintenance fees, service fees, cleaning fees, and taxes through the use of Crowdpoints.
“In a traditional peer-to-peer sharing economy there shouldn’t be an intermediary controlling the transaction process and indiscriminately marking the price up. Crowdvilla will make the whole process more efficient, secure and transparent for both travellers and homeowners,” said Crowdvilla advisor Federico Folcia.
“I see Blockchain as an evolution of the traditional Sharing Economy model; it will eliminate the need for centralized platforms acting as authorities, who really only charge facilitation fees, rather than serving the community itself, ” said Mr Darvin Kurniawan, Co-Founder and CEO of Crowdvilla, who also leads REIDAO.
A CRV (Crowdvilla) token sale event will be held to form the initial crowd-owned properties under the Crowdvilla portfolio. Crowdvilla Tokens will be released during their token sale to take place in March 2018, and can be obtained in exchange for Ethereum.
For more information on Crowdvilla see the white paper .
About
Crowdvilla is a Singapore-based community-focused blockchain non-profit organization that provides a platform for users to own and share holiday homes around the world. After founding REIDAO, a blockchain based real estate company, Darvin Kurniawan co-founded Crowdvilla as a proof of concept of the the decentralized real-estate ownership model. The Crowdvilla’s core team comprises of expert advisors such as former CEO and Co-founder of Roomorama, Federico Folcia, Paul Chen, Hong Kong Chapter Head for the International Blockchain Real Estate Association (IBREA), Achim Jedelsky, initiator of the Daimler Blockchain Group and founder of Berlin Chapter of the International Blockchain Real Estate Association (IBREA), and American real estate guru John Dean Markunas.
StartEngine Crowdfunding Inc. will host the on April 20th, 2018 in Santa Monica, CA. Business leaders from around the world will discuss ICO 2.0 and the next phase of the marketplace: how companies can sell security tokens using exemptions from registration under the Securities Act.
expects over 1,000 attendees, 40 speakers and panelists, and 20 ICO pitches at the summit. Keynote speakers include Patrick Byrne (CEO of Overstock.com, tZERO), Gil Penchina (Investor in Brave, Ripple, Filecoin, Civic, Paypal, Polychain, AngelList), Tai Lopez (Investor, Entrepreneur, Author, Forbes Top 20 Influencer), and Lou Kerner (Partner, CryptoOracle).
This is the second time that StartEngine has hosted the ICO 2.0 Summit. The first StartEngine ICO 2.0 Summit on November 10, 2017 was a sold-out success, with more than 500 attendees and over 5,000 viewers tuning into the livestream.
At the event, entrepreneurs and business innovators discussed the regulatory landscape of ICOs. This year, the topic of discussion is the path to liquidity for security tokens and how they will be traded on the secondary market.
“We are excited to continue the tradition of the StartEngine biannual summit,” said Howard Marks, co-founder and CEO of StartEngine. “Much has changed since November with the SEC taking action and issuing subpoenas to existing ICOs. It’s more important than ever that the industry learns about the ICO 2.0 and how to move forward with government regulation along the path to liquidity.”
StartEngine helps companies issue securities through crowdfunding and ICOs, utilizing exemptions from registration under the Securities Act. To date, StartEngine has launched more than 150 capital raises and is ushering in a new securities market in which companies can sell securities and investors can trade them all on one platform.
The StartEngine ICO 2.0 Spring Summit will be an all-day event, taking place at the Fairmont Miramar Hotel & Bungalows. Panel topics include token airdrops, structuring and marketing an ICO 2.0, ICO rescissions, how ICOs are disrupting venture capital, and more.
About StartEngine
StartEngine is the leading regulated ICO 2.0 platform in the U.S., connecting everyday investors with tomorrow’s progressive companies. Utilizing its expertise in regulated exempt offerings under the Securities Act, StartEngine has raised capital for more than 150 companies and has nearly 140,000 registered investors. Based in Los Angeles, the company was created in 2014 by Howard Marks, co-founder of Activision, and Ron Miller.
StartEngine is committed to revolutionizing the ways companies raise capital and to helping entrepreneurs achieve their dreams.
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