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:
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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