FREE Coin Whitepaper

Sunday, June 16, 2019
Download document
Save for later
Add to list

WHITEPAPER : The FREE project, The FREE coin 24/11/2018 WHITEPAPER THE FREE Project The FREE coin Social project to promote cryptocurrency usage and increase global wealth www.FREEcoin.technology [email protected] page 1

WHITEPAPER : The FREE project, The FREE coin 24/11/2018 Table of Contents Goal of the FREE Project / FREE coin ...................................................................................................... 4 Support mass adoption of cryptocurrencies....................................................................................... 5 2017 – General awareness .............................................................................................................. 5 2018 – Mass acceptance starts ....................................................................................................... 5 The challenge for the FREE project ................................................................................................. 6 Make cryptocurrency inclusive ........................................................................................................... 7 Create Global Wealth .......................................................................................................................... 7 Price and Supply of the FREE coin........................................................................................................... 8 Technical solution ................................................................................................................................. 10 Smart Contract .................................................................................................................................. 10 Wallets .............................................................................................................................................. 10 Exchanges.......................................................................................................................................... 10 The Team .............................................................................................................................................. 11 Exchanges and Webshop ...................................................................................................................... 11 www.FREEcoin.technology [email protected] page 2

WHITEPAPER : The FREE project, The FREE coin 24/11/2018 www.FREEcoin.technology [email protected] page 3

WHITEPAPER : The FREE project, The FREE coin 24/11/2018 Goal of the FREE Project / FREE coin The FREE project / coin has 3 main objectives : 1) Support the mass adoption of Cryptocurrency 2) Make cryptocurrency INCLUSIVE, allow also access to cryptocurrency profits to people with less financial means 3) Create global wealth, by distributing a cryptocurrency coin that will increase fast in value. The FREE coin is FREE from control by Banks, Companies, Institutions or Governments. The FREE coin is OF the people, BY the people and FOR the people ! www.FREEcoin.technology [email protected] page 4

WHITEPAPER : The FREE project, The FREE coin 24/11/2018 Support mass adoption of cryptocurrencies 2017 – General awareness 2017 was the year of the public breakthrough of cryptocurrencies. We saw - An explosive increase of prices of the different cryptocurrencies - An abundance of cryptocurrency projects being launched As a result cryptocurrency became a hot news item, and even governments and central banks started studying cryptocurrency as a disruptive transformation of the worldwide financial system. By the end of 2017, more than 2500 different cryptocurrencies were officially listed at the different Exchanges, and many more were being traded without official listing (EG via address trading on decentralized exchanges). However, the number of persons that participate actively in the cryptocurrency trade was still very limited : less than 1 percent of the world population was actively investing in cryptocurrency As from 2018 – Mass acceptance starts Different studies indicate that as from 2018 there will be a start of the mass adoption of cryptocurrencies. This acceptance of cryptocurrencies will vary in function of : - Age : Bloomberg studies estimates that soon up to 33% of the Millennials will use cryptocurrencies - Location : Cryptocurrency usage is currently concentrated in specific geographical areas, other areas are underrepresented - Income : the popular cryptocurrencies have reached high price levels, bringing them out of reach of the persons that are in a financial weak position - Education : currently the trading of cryptocurrencies at exchanges seems complex, and this is an obstruction for some people to start using crypto. - Technology Access : About 60 % of the world population has access to a PC or Smartphone, and can thus invest in cryptocurrencies. As from 2018 we will see a massive inflow of capital to invest in cryptocurrencies : - The number of persons that invest in cryptocurrency will be multiplied by 10. Especially Millennials – with less trust in banks and economic stability – will look at alternative ways to invest to safeguard their financial future, even after retirement - Ba ks, Pe sio fu ds, I su a e Co pa ies, … a e p epa i g to e te the pto u e market, and to invest a part of their financial holdings in cryptocurrencies www.FREEcoin.technology [email protected] page 5

WHITEPAPER : The FREE project, The FREE coin 24/11/2018 - Companies discovered cryptocurrencies as a successful way to raise capital, a good alternative for shares and bonds - Central Banks and Governments start studying the possibility to create their own cryptocurrencies - … The challenge for the FREE project The demand for cryptocurrency will explode - billion(s) of persons will want to invest in cryptocurrencies. A d the a ks a d o pa ies ill also a t to i est … However the current cryptocurrencies are not suited for mass adoption. Look at Bitcoin, Ether, Litecoin, Bitcoin cash, Neo, Mone o, Dash, ZCash, Qtu , Ve , Lisk, … : the a aila le suppl of these coins is expressed in millions, not in billions. Suppose that a billion people are going to invest in Bitcoin or Litecoin or Bitcoin cash : the price will increase so much that these oi s ill e o e useless as a e ha ge of alue , e ause the transactions would have to be executed at so many decimal points, that it would become unreadable for humans : A read ? That is , Lite oin please To support the mass adoption, the FREE project will deliver : - A FREE coin which : o Has a supply which is high enough to be used by every person on earth o Is launched at a price which is so low (and 50 % even free of cost during first 3 months) that also people with less financial means can own FREE coins. - Active promotion and support to people worldwide to adopt cryptocurrency at the most easy and lost low cost way. We decided to deliver this solution using the Ethereum Blockchain : - Wallets and Exchanges are widely available - Proven technology, that is sufficient fast and reliable to be used for storage and exchange of value - Mining is guaranteed also in the future, due to the many altcoins that run on top of Ethereum www.FREEcoin.technology [email protected] page 6

WHITEPAPER : The FREE project, The FREE coin 24/11/2018 Make cryptocurrency inclusive Currently the crypto market is reserved for the wealthy that have enough knowledge to know how to use wallets and exchanges. The majority of the people is excluded, because crypto is too expensive for them, or because it looks too complicated to work with Exchanges and Wallets, or because there is no active community in their language to help them in their first steps. To make sure that as much people as possible get access to the cryptocurrency market (and wealth that is being generated on these markets), the FREE project will - Launch a coin at extreme low price . The FREE coin will be distributed during the first 3 months : o 50 % via exchanges, at the price of only 0,0000000001 Ether (about 0,00000006 dollar, in April 2018) o 50 % free of cost via targeted donations, giveways and airdrops. - Launch a coin which has sufficient supply, to survive the mass adoption without an immediate price explosion - P o ote the i itiati e ia B a d A assado s a d so ial edia o ld ide - Simplify the purchase of cryptocurrency to the maximum (EG for starters who are still confused about how Exchanges work : offer the possibility to buy the FREE coin via a classical webshop and pay via Paypal) Create Global Wealth Cryptocurrencies will become worldwide the standard sto age of alue , a d ill epla e u e t methods to store value (fiat money, bank accounts, pension funds, precious metals, derivates, …). Because of the laws of Supply and Demand, the value of cryptocurrencies will increase fast, for some coins the value will really explode. Lots of new wealth will be created during this process (and existing wealth will be transferred from the old storage of value items to cryptocurrency). People that will be early adopters of cryptocurrencies will profit from these price increase, and will generate a lot of wealth. The FREE p oje t a ts to allo e e o e the possi ilit to e o e a ea l adopte , so that everyone has the chance to participate in this wealth creation. www.FREEcoin.technology [email protected] page 7

WHITEPAPER : The FREE project, The FREE coin 24/11/2018 Price and Supply of the FREE coin. To e a le to a t as a sto e of alue a d a e ha ge of alue the FREE oi has to eet requirements : 1) Enough coins have to be available, to allow everyone worldwide to use it 2) Enough coins have to be available, so that price is less volatile and can be use for exchange of value We decided to create 10.000 Billion FREE coins. Is this not too much ? No, this is only about 1.400 FREE coins per person on earth. Fu the o e the e a e toda . Billio dolla e ui ale t sto ed i a k a ou ts a d a k otes/ oi s o ld ide. A d e e a highe alue is sto ed i de i ates a d p e ious etals. So there is only 1 FREE coin for every 8 Dollar equivalent that exists today in banknotes/coins and bank accounts. This means that the FREE coin cannot become the only worldwide cryptocurrency, but can take a leading position between the few cryptocurrencies that will be adopted worldwide. Let’s o pa e the u e of FREE oi also ith the alue of EURO’s i the Eu opean Community : 500 million inhabitants use 1.300 Billion Euro in banknotes/coins and have at least 19.000 Billion Eu o’s i a ks (these figu es a e elated to the la gest a ks o l , so the eal total of all a ks will be much higher). When 500 million inhabitants of the EC have more than 20.000 billion EURO in banknotes and bank ccounts, than a total of 10.000 billion FREE coins for 7 Billion people worldwide seems correct ? The distribution of the FREE coin will be done in 2 phase : PHASE 1 : distribute 4.000 Billion FREE Coins during 2018 PHASE 2 : distribute gradually the remaining 6.000 Billion FREE coins in function of market needs. Why will the FREE coin increase in value, it is not backed by gold ? The EURO is not backed by gold, the Dollar is since 1971 no longer backed gold, so h do the ha e alue ? Because there is a general TRUST in these currencies. When people trust that they can use something to exchange in a trade, then this object develops value. The Bitcoin developed a high value, because the first darknet users agreed it was useful as non- traceble way to transfer value to pay for transactions. And once the value of the Bitcoin started to increase, other people saw additional usage : high return investment, hiding value for Taxes, transferring value worldwide ultrafast and at low cost, 100 % availability and uptime of the support IT i f ast u tu e, … www.FREEcoin.technology [email protected] page 8

WHITEPAPER : The FREE project, The FREE coin 24/11/2018 What worked for the Bitcoin will also work for other cryptocurrencies : once it is widely spread and once it is really traded at exchanges, people will see the value of the FREE for them : price of FREE will start to increase, people will start accepting it in trade transactions, it is a safe storage of value (even in unsafe physical environments), it has a correct supply taken into account the world populatio , … www.FREEcoin.technology [email protected] page 9

WHITEPAPER : The FREE project, The FREE coin 24/11/2018 Technical solution Smart Contract The FREE coin is created as an ERC20 smart contract on the Ethereum ETH blockchain. The smart contract address can be consulted at : https://etherscan.io/address/0x2f141ce366a2462f02cea3d12cf93e4dca49e4fd The smart contract code can be consulted at : https://etherscan.io/address/0x2f141ce366a2462f02cea3d12cf93e4dca49e4fd#code The distribution of the FREE coins over the different coin holders, can be consulted at : https://etherscan.io/token/0x2f141ce366a2462f02cea3d12cf93e4dca49e4fd#balances Wallets The FREE coin can be stored in every wallet which is Ethereum ETH ERC20 compatible : M ethe allet, Meta ask, Mist, Ledge , … The parameters to perform the set-up of the FREE coin in the wallet are : - contact address = 0x2f141ce366a2462f02cea3d12cf93e4dca49e4fd - symbol = FREE - number of decimal positions = 18 Exchanges The FREE coin can be traded via address trading on every ether based Distributed Exchange (DEX) : Toke .sto e, Fo kdelta, Ethe delta, … The project team will also negotiate to have the FREE coin listed at a major exchange. But the price for su h a listi g is e high … When we prove together that many persons are adopting the FREE coin, the Exchanges will list the FREE coin on their own initiative (because they can make money out of trading it) www.FREEcoin.technology [email protected] page 10

WHITEPAPER : The FREE project, The FREE coin 24/11/2018 The Team The FREE coin is started by a small team of unpaid volunteers. The number and composition of the FREE coin Core Team evolves in function of the project phase, skills needed and workload to be done. We do not consider ourselves as the long term owner of the FREE coin, but simply as the persons that are doing the start-up and that will guide the FREE coin to maturity. Once ALL coins are distributed, the FREE coin will be a self-regulation eco-system, exact as what we see with the Bitcoin. Question : what happens with the financial earnings that result from the initial sale of the FREE coins by the project team ? These earnings will be used to pay the listing of the FREE Coins on Exchanges, to finance the give-away actions (gas usage coin distribution) and to promote the FREE coin initiative. Exchanges and Webshop The FREE coin will be distributed via Exchanges and via a webshop. The number of exchanges that offer the FREE coin will continue to increase. We advise you to check our website www.FREEcoin.technology to have the latest list available During the first month of the project, the FREE coins were distributed via FORKDELTA and Token.store. Today the FREE coin is listed on many exchanges, for a full list please visit our website www.FREEcoin.technology [email protected] page 11

WHITEPAPER : The FREE project, The FREE coin 24/11/2018 www.FREEcoin.technology [email protected] page 12