Team of Developers and Experts: CEO - Metin Ismetov CFO - Yan Wen Cheong Blockchain Expert - Daniel Fletcher Business Development - Lubomir Blagov Legal Advisor - Sanl Bas Senior Software Engineer - Alexander Makedonski Senior Software Engineer - Burkay Çelik
Contents 1. Abstract 5 2. Blockchain technology 6 3. Smart contracts 8 4. What problems InoCoin solves? 9 5. Assets 10 6. Mobile apps 11 7. Team 12 8. Token supply 13 9. Roadmap 14 10. Ino Platform as the core ofour project 15
In this white paper we present InoCoin, a brand new technology for securely transferring money between anonymous peers. Our solution is based on the Ethereum Codebase and keys/addresses system including multisignature outputs and ring signatures. The main purpose of this technology is to help young entrepreneurs and startups to secure financing and develop their idea. At the same time, the technology enables anyone to become an investor and earn a return on their investment.
1. Abstract Unlike other projects, InoCoin is a universal payment tool, but aside from serving as a platform for procuring venture capital, it also provides an opportunity for any person to take advantage of the innovations and benefits that new projectsoffer. InoCoin is a global platform for funding and provision of knowhow to new Blockchain projects. As a currency, it is backed by a team of people with great technical and commercial skills, people who will share advice and show right direction to young teams in addition to providing funds. It is a unique decentralized system for joint decision making between the lead team, project representatives and all investors as well as owners of the currency. It enables sharing of knowledge, ideas and wealth through InoCoin.
2. Blockchain technology Before the blockchain era, commerce required building trust between the transacting parties, which in practice meant proving that each party was actually capable of fulfilling their obligations in accordance with the terms agreed beforehand. Failing to stick to one s promises would wreak havoc in the markets. As a consequence, there was a need for a third party, a financial intermediary, that would take the risks of the counterparty default unto itself. Whether due to practical reasons following from market necessity or because of imposed regulations by government agencies, middlemen became an integral part of the market landscape to ensure every party kept up their end of the bargain. The blockchain technology removes the need for a middleman as the validity of a transaction is confirmed by the network of independent nodes. A decentralized, distributed one-way ledger existing in thousands of copies across the world removes the overhead introduced by third parties, with a bonus of greatly diminishing the time it takes to confirm a transaction. Blockchain has marked the beginning of a truly new era. Now, the blockchain technology makes old payment systems redundant and outdated. With blockchain, there is no more need for complex auditing systems as it has its own audit system built in, which provides reliable accountability right out of the box. Transactions which get written to the blockchain are literally set in stone and time. Once a transaction gets confirmed, there is no way back as all transactions are intentionally made irreversible. No one can change them. This becomes possible through a consensus mechanism. The two major ways to reach a consensus in the blockchain network are Proof of Work and Proof of Stake. Their effect is that they render the efforts to compromise a blockchain prohibitively expensive even for those who can spend billions of dollars, for example, government agencies, and yet more costly for major decentralized currencies like Bitcoin. The security of the network is guaranteed by the distributed nature of decentralized blockchains and cryptographic algorithms used. Moreover, the costs of preventing new transactions from receiving confirmations are rising exponentially as the network expands, so this attack vector will be even less feasible in the future when the blockchain technology gains more traction in the Internet.
Currencies based on decentralized blockchains don t need a trusted third party as is the case with a centralized payment system, for example, a Central bank. This eliminates a single point of failure by making decentralized systems immune and invulnerable to things like blackmail, bribes, corruption, virtually everything which regularly overruns legacy systems. As a result, decentralized blockchains are operating beyond the reach and outside the control of financial structures and oligopolies which are more often than not pursuing their own ends incompatible or even directly hostile and antagonistic to the idea of an open market, which the blockchain technology greatly contributes to.
3. Smart contracts It is possible to implement a Turing-complete programming language within the blockchain itself. A piece of computer code stored and replicated on the blockchain system is called a smart contract. These contracts got a lot of traction over the last few years. As Turing-complete, they can store, convert, and process arbitrary data in a formally specified (algorithmic) manner, depending on specific conditions set beforehand. And it is not only about storing and processing information related to account balances, which is what the Bitcoin blockchain mostly deals with, as any data including but definitely not limited to data about data (metadata), sets of rules, restrictions, transaction conditions can be entered into a smart contract, i.e. virtually anything that can be processed by a modern desktop PC. First smart contracts were implemented using the Bitcoin blockchain but due to the limitations of the underlying protocol, it was not possible to execute complex logic procedures in an efficient way on top of it. Thus, the most widely used Turing-complete blockchain dubbed Ethereum was born which enables execution of complex smart contracts mostly involving financial operations. For example, a small smart contract consisting of just a few lines of code can set rules about transferring assets or executing predefined operations once certain conditions are met. These conditions can be triggered immediately or at some point in the future. Smart contracts allow to strike a bargain between two parties without running the risk of default by either. The contract is either carried out fully or gets cancelled completely, so no party is in fact risking anything. If one side fails to deliver, the other retains what belongs to it. And all of this comes with the benefits which a plain vanilla blockchain enjoys.
4. What problems InoCoin solves? And How it Works? Within the InoCoin platform, there are several main features that are of interest to future users. The like button is the first such feature as it is intended to allow the community to vote on what projects should get financial support. This occurs every three months as our managerial team redirects InoCoins in order to fund a project. The second feature is the boost button which allows investors to fund projects on an individual basis. There is no limit as to how much or how little can be invested. Each project individually details the benefits the investors receive. InoCoin provides every single person with a chance to be an investor or innovator. Age, knowledge, wealth, etc. are not important. At the same time, InoCoin provides an opportunity to every person with a great idea even though they don t have sufficient financial resources. InoCoin makes the world a better place as it connects investors with innovators thanks to its being an investment platform, enabling them to improve upon new or existing technologies. And all this comes without any taxes. Everyone with a good idea is welcome to share it, and we will do our best in raising the money required to implement it. You can register at https://platform.inocoin.eu and choose the role you want to take, either as an investor or innovator, or both.
5. Assets InoCoin is the core utility token that powers the InoCoin Platform. The token is a standard ERC20 token. At the heart of the InoCoin platform are a set of smart contracts called InoCoin Chaincode. These serve to coordinate interactions between project participants. InoCoin smart contracts are deployed on Ethereum, but can also be linked to other platforms.
6. Mobile apps Our team has developed mobile applications meeting the requirements of the InoCoin Investment Platform. We believe that investing should be as easy as possible for potential investors, unlike the complicated process that comes with the old banking system. You can use our mobile apps on all major operating systems such as iOS, Android, Windows, and Linux. You can create your own wallets, introduce your own projects and get funding, or simply invest in the best startup.
7. Team InoCoin enjoys an international team with a vision, ability, innovative thinking, open mindedness, management skills, marketing knowledge, and developers coming from various backgrounds such as IT, accounting, finance, Blockchain and more. A complete profile of our team is available at https://www.inocoin.eu In Blockchain - We are highly experienced Blockchain developers. As a result, we have built our platform in the Ethereum blockchain net. This will take investment and crowdfunding to the next level. In Finance - Our financial team has a huge amount of experience in the banking sector and investment area. However, we believe that the future belongs to Blockchain as it will completely transform the world of investment and entrepreneurship. In Business - Several big business developers are part of our team. They possess extensiveexperienceinconsultingandhelpingentrepreneursgrowtheirbusiness.
8. Token supply Token Supply: 1,000,000,000 INO tokens are available for distribution in cryptocurrency markets. 200,000,000 INO are available to contributors. 10,000,000 INO are bound for the team, advisors, bounties etc. 300,000,000 INO tokens will be kept for financing new projects during 2018 and 2019. The remaining 490,000,000 INO tokens will be kept as a reserve and locked for one year, solely to develop partnerships and future acquisitions that will help us become a dominant market leader.
9. Roadmap The idea of the project was worked out during Q4 of 2017. Since then we have designed and developed the investment platform InoCoin. The InoCoin token is not like any other, that s why we are not following the common Initial Coin Offering (ICO) route. We are aiming to be listed on the public markets and provide everyone with a chance to be a part of this huge project. By the end of 2018, at least one startup will be financed and developed with our help and the help of our investors.
10. Ino Platform as the core of ourproject We would like to make a conclusion why the InoCoin investment platform is superior to other more conventional means of investing. Our platform allows investors of all sizes to participate. This is the key factor that differentiates us from the traditional systems which usually restrict investment opportunities to a small circle of individuals. We are removing these high barriers for entry. Using our platform anyone can invest regardless of whether it s $1 or $1,000,000. The platform is capable of calculating profit as a percentage of investment automatically, depending on the size of the investment. Inocoin is a utility token that will be the future of crowdfunding. After investing in INO, you are able to receive smart services and all kinds of products from the projects you support. The InoCoin Investment Platform places no restrictions on startups. We believe this is the key to a successful business in the new age. These new ventures need to be innovative above all else, not constrained by the limits of old ideas. Due to these requirements, the more interesting and fresh the idea is, the more likely the project is to secure funding. If you believe you will struggle to secure investment because your idea is too unproven or overly optimistic, then you would be an ideal candidate to apply for funding through InoCoin. Many of the great innovators of our time were thought to be too forward thinking at first, struggling to secure the funding and trust necessary to realize their ideas. If you have more questions, please go to https://platform.inocoin.eu/faq