Imagine a situation when you had to use a taxi, but the taxi at the hotel asked for 30 dollars for the trip to your location. You decided to save some money and took Uber, but unfortunately you had to wait 20 minutes longer than they had announced when you had ordered it. It happened due to a small mistake by the Uber driver who mixed up the address. In the end, you arrived at your destination for less than 30 dollars, but 20 minutes later than you had hoped. You didn't miss anything, but you spent the extra 20 minutes. Will you use Uber again after that, understanding that it wasn't the service's fault, but a coincidence of circumstances associated with the human factor? Or will you prefer taking a taxi to the hotel? Perhaps you are a high-salaried lawyer, and an hour of your time costs 500 dollars, but you were 20 minutes late and didn't earn 150 dollars, while saving 15 on the taxi ride. How seriously will you take such loss? Most people do not convert their personal time spent to a monetary cost for activities like reading books, watching movies, playing poker, and so on; we don't calculate the "opportunity cost" of such things.
Decentralized experts will perform a project appraisal quite responsibly, no worse than full-time experts at a venture fund, but they will not charge hundreds of dollars for their time. It will be nearly a hobby for them, a game, a socially beneficial action, like helping to clean up their neighborhood. The algorithm we have created will not allow them to take the project appraisal frivolously. The influence of an expert's vote on the rating of a particular project will depend on a lot of factors, including the expert's evaluation history, their personal details, and the level of uniqueness of the project.
Compare the working day of a grinding-machine operator to the day of a freelancer whose activity involves writing articles and comments on the net, and so on. The differences between their working conditions help illustrate advantages granted by contemporary technology. They can be expressed in terms of comfort, in the freedom in choosing our working place and how we organize our time. The growth of information-processing technology can provide the combination of comfortable conditions and financial advantages for nearly anyone with access to them.
Have you ever witnessed an idea or project of yours being discussed in a public forum? Have you observed comments, floods, trolling from people you'd call idlers? And what if their vibrant energy were focused on something positive? Such skills can be very useful for detecting dubious projects, uncovering missing details, flaws and potential scams. People who actively participate in discussions are better able to discover weak points in arguments. Like detectives, they are eager to dig down to the truth, blow the lid off, find all the hidden pitfalls, and deliver a public verdict. The involvement of decentralized experts will provide a lively and unbiased discussion of the projects being offered.
The goals pursued by active commenters, trolls and flooders are material as a rule, their nicknames become recognizable due to such activity, they get followers, obtain the reputation of being an experts (or at least quasi-experts), and hence they obtain a whole range of opportunities to derive financial benefits by using their recognizability. In our case, the financial benefit from their actions will be quite tangible.
The distinctiveness of our platform resides in its use of a hybrid system for project appraisal. With this method, we expect a revolution in the field of venture capital investments and crowdfunding. Most of the existing crowdfunding platforms place projects on their venues after pre-moderation by their own employees. If they had used a reliable algorithm, the number of projects proceeding to the state of fundraising would have been far fewer, and their chances for success much better. For example, the Kickstarter portal cannot keep a staff of professional experts because this is financially impractical. The users determine the level of a project's reliability on their own, and they have to collect the information themselves, unlike ScientificCoin where the algorithm will not let the investor see nonviable projects, and topical questions associated with the appraisal of the project's proceptivity will be raised in the process of an open, expert discussion.
We have completed the beta-version of our platform. Anyone can register and use the tools on the platform to perform mining and appraisal of projects, which will be presented in the beta version as samples. We expect to attract about 3 million USD from large crypto investors and venture capitalists during the October-December span of 2018 by means of the private sale of ScientificCoin tokens.
Considering that we have already put together a team consisting of hundreds of scientists, many of whom hold a PhD, we'll be able to complete the development of the platform by February 2019. At the same time, our own blockchain will be created according to the proof-of-research principle, the emission of ScientificCoin will amount to 100 million coins, which will be exchanged into ScientificCoin tokens emitted previously.
We have intentionally refused to organize an ICO, because we do not believe it possible to attract small investors' interest in the present situation. In my opinion, most of such investors have already invested the available funds in other projects and cannot withdraw from them due to sharp falls in the value of the tokens after entering the exchanges (unfortunately they will have to wait very long or endlessly). In our case, a collection of 50-100 large investments is a more realistic opportunity than spending time and money on advertising like the numerous ICO projects.
Based on previous experience (https://healthmonitor.io
), where we collected 12% more funds than was necessary, with only six large investors participating, we have come to realize that when there is a complete product and transparency, interest for the project from the professional community will be guaranteed.
We received the Oscar at Blockshow in Las Vegas, which powered by Cointelegraph. https://www.facebook.com/blockshowcom/videos/300581983826872/
And our team is going to present the ScientificCoin project at the iBlockchain Summit (http://www.iblockchainsummit.com/
) in Guangzhou, China on November 2-3, 2018, as well as at the BlockShow Asia (https://blockshow.com/
), which will be held on November 27-December 1 in Singapore.