Blockchain, Graphene

Poles, ICO and graphene - an interview with Robert Anacki from TecraCoin

Tecra may turn out to be an important project for the Polish economy. That's why we decided to talk to Robert Anacki, co-founder of TecraCoin, who gave us the genesis and many other issues of the start-up.

29 January 2019

Jacek Walewski: What is the genesis of your project? Where did you get the idea of using the ICO idea?

Robert Anacki: On January 17, the first meetup for the Tecra project took place. Then, for about two hours, we tried to explain the genesis of the project. Among other things, we talked about why we use digital assets and how to sell high-tech technologies by selling the TecraCoin cryptocurrency. 

Reasons for using the ICO idea are many, but the title of the first screen on the presentation that I hosted last Thursday [we talked last week - admission. ibid.] explains these issues best: "It's all about the trust" and indeed everything breaks down just for trust. 

Confidence must go hand in hand with security, and blockchain technology ensures that no centralized unit or regulator can change what we have agreed on. It's such an electronic, dispassionate notary - no one will influence it. The most popular implementation of blockchain technologies are cryptocurrencies - which allows instant access to capital, capital scattered all over the world, capital that can flow safely between the owners of digital assets. We knew that we had fantastic technologies, ready for commercialization, we knew that our team consists - speaking diplomatically - interesting people, guaranteeing the proper implementation of the project. However, we did not want our project to be controlled by centralized capital, for example through state subsidies, which in fact create many opportunities, but because it is the state money due to the required reporting, rigidly defined frames that cause us to lose agility, and the world of high technology requires it.

JW: Say something more about the people who make up your band.

RA: I once said the following words: "The Tecra project is an amazing adventure, sometimes on the verge of magic, and the next chapters are written by great people involved in it. These people are the strength of this project "- and I still think so. The strength of projects are people - people and their commitment, competence, courage. Trust is not only blockchain technology, it's also the everyday decisions and actions of our team, which is why choosing the right people is the most difficult stage of any project, especially as big as TecraCoin is. As I look at the whole year 2018, I must admit that it took a long time to get so many outstanding people to work together under the Tecra brand, but it succeeded - and that's what I enjoy the most.If anyone wants to learn more about people involved in supporting TecraCoin, then such information is available on our website.

JW: Can you give us more information about the economic issues of the token and the entire project? 

The business model, economics of TecraCoin is illustrated in the diagram below [here Robert presented the following board]:

The company created its own cryptocurrency (virtual currency) - which it called TecraCoin. The currency is based on its own blockchain, it is not a token based on another existing blockchain. The maximum number of cryptocurrencies that can be extracted is 210,000,000 TCR's. The TecraCoin algorithm predicts that:

  • A certain percentage of extracted crypto-currency is awarded to the so-called Miners. CryptocutorTecraCoin, or rather its blockchain, is based on the proof-of-work consensus algorithm (proof of work). Confirmation of transactions takes place using equipment - GPU-based mining rigs. The use of computing power and this type of algorithm protects the network against the so-called hostile takeover (51% attack). 
  • A specific part of cryptocurrencies is granted to persons / entities having so-called masternodes - servers. At the same time, such persons are required to have a certain number of cryptocurrencies of TecraCoin. The Masternode system is similar to the proof-of-stake algorithm (proof of "possession"), but requires simultaneous possession of a server and cryptocurrency. Masternodes are used to increase the number of network nodes and improve network security, they also store a full copy of blockchain TecraCoin. From each mined block, the part of TecraCoins is allocated for division between the owners of the MN's. The value of obtained cryptocurrencies changes over time - however, it results from the cryptocurrency algorithm. 
  • A specific part of the extracted cryptocurrencies is automatically allocated to a dedicated portfolio designed for TecraCoin liquidity hedges.
  • This security is provided by the so-called "Crypto-deposit" by "blocking" owned TecraCoins. After a specified time, each person who "blocked" TecraCoins will receive additional, newly mined TecraCoins. The amount of additional TecraCoins will depend on the amount of cryptocurrencies blocked by all users and the amount of mined cryptocurrency.
  • "Deposit" is carried out in a virtual manner. No cryptocurrencies of users are sent to the Company. Holders of TecraCoin cryptocurrencies in the application (wallet) click the "block" option and specify the time by which they undertake to have a cryptocurrency and the amount of this cryptocurrency. For blocking their cryptocurrencies, users receive part of the crypto-currencies, which the TecraCoin algorithm sent to the above-mentioned ones. separate portfolio. The rules for the allocation of funds will be described in the algorithm prepared by the Company. Each user deciding to block his funds will know the minimum number of additional cryptocurrencies that he will receive from the algorithm for "blocking" his cryptocurrencies under the "crypto-deposit".
  • Transferring newly-mined TecraCoins to the address (wallet) of the deposit is automatic - it is made by the cryptocurrency algorithm. The transfer of the bonus resulting from the "crypto-deposit" is made by the software prepared by the Company.
  • The "crypto-deposit" participant has access to his crypto accounts at all times and can freely dispose of them - that is, he can at any time resign from "crypto-deposit", he will lose the right to bonuses.
  • Part of the mined cryptocurrencies from each block is allocated to the Company (regardless of whether it itself kicked the cryptocurrency or not) into separate portfolios called "Science" and "DevTeam". Funds accumulated on these portfolios will be allocated appropriately for the support of special purpose vehicles and for support and expansion of the blockchain itself. The company has full control over these funds. The company will commit itself, however, to the community to spend these funds on specific goals.

The company made the so-called pre-mining (pre-mining), during which it created (mined) 10% of all crypto-currencies that can be mined. Now, he plans to sell pre-mining crypto-currencies as part of a process similar to the process called Initial Coin Offering. 

Funds accumulated from the sale of cryptocurrencies, the Company will transfer for investments in Polish science and further development of the blockchain created by it. These investments will consist of creating special purpose vehicles to which the Company will transfer collected funds. Then, special purpose vehicles will buy modern technologies and research results to make them more commercially available. Transfer of funds to special purpose vehicles will take place in the form of either payments for share or supplementary capital, subsidies or loans. 

Principles of recapitalization of special purpose vehicles may change over time and will depend on the actual financial needs of individual subsidiaries.In terms of maintaining the liquidity of cryptocurrencies, the Company intends to oblige subsidiaries to buy crypts fromTecraCoin under the market from certain conditions. Such a situation is to take place when the special purpose vehicle proves profit from operations and this profit will not be spent on the R & D of the special-purpose vehicle. 

At the same time, the Company intends to determine the percentage of profit to be transferred to the purchase of TecraCoin from the market (from exchanges). Alternatively, the Company intends to purchase a portion of TecraCoin from the market itself from funds raised from dividends from subsidiaries.

The TecraCoins bought from the market are to be transferred to the so-called the "Science" portfolio belonging to the Company. The company will use these focused cryptocurrencies for further investments in science. People with TecraCoins and those belonging to the TecraCoin community will be able to vote on the projects in which the Company is to invest. 

In assumptions, 10% of all accumulated cryptocurrencies in the "Science" portfolio is to be distributed according to the will of the community - to support specific projects.The company intends to publish cyclical financial results of its individual projects and the use of dugout currencies for investments in science.

JW: The ICO market is experiencing a certain crisis of confidence, but also profitability. Are you not afraid that it will affect your start badly?

RA: Indeed, the entire digital asset market is in a crisis, and many projects that accumulate funds in the popular ICO model have failed to meet their planned work. That is why trust is so important, and this trust should be built on many levels - not only in technological terms.

It's primarily people, people involved in the project, it's also security in the traditionally known legal formula - in our case, patents for specific inventions, applications of technologies that we commercialize. January shows a slight reflection and gives hope for an improvement in the ICO business climate. According to reports from, for example, ICO BENCH, ICO projects collected about 5-6 million USD in previous periods, and already these amounts have doubled to over a dozen million USD per project per month. 

However, we are not yet another cryptocurrency that is to improve the transaction system, speed up the establishment of consensus, or implement another IT solution that will become a precursor to dAPS We are a technology start-up who identified the potential and the possibility of using blockchain technology and digital assets in a business model that could successfully operate without a distributed register - we have a product, people, a well-thought-out business model - we started this.

However, blockchain technology gives the project additional, unique features - decentralizing capital, enabling investment in high technologies by residents of every corner of the world, it is also an additional step towards the development of the blockchain industry, which I personally care about - I think that the start in the difficult period and the first our successes prove that the project has enormous potential and will be able to record satisfactory gains on the return of the economy, and this is because its value is created by technologies such as graphs, not just blockchain technology behind cryptocurrency.

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