On ICOs This Week we review Vernam: A commission free insurance on blockchain, CHERR.IO a blockchain solution for charitable donations and TALAO a decentralized and autonomous platform for talent.
Vernam: A Commission Free Insurance On Blockchain
Vernam aims to be world's first 0% commission insurance on the blockchain. They are looking to offer a decentralized platform, connecting various stakeholders in the insurance industry; customers, brokers, and insurance companies, through blockchain technology, making the insurance process less costly, fully transparent and more convenient.
The company is planning to offer clients the facility to purchase conventional insurance through the Vernam platform, while receiving a reward in VRN tokens, equal to a typical broker’s commission (up to 30% of the premium price). Tokens can then be sold on an exchange or used for the purchase of conventional and crypto insurance products. The innovation behind this project lies in what they call “CryptoSafe”, which is a type of smart contract, guaranteeing compensation in VRN for a client when a defined set of events occur.
Token economics: the token crowdsale begins on May 15th and lasts until May 22nd. The bonuses will vary depending on when you purchase, starting with a 40% discount in the first 3 hours ($0.051 per VRN token), 20% after that for the first day, then 10%. After 7 days VRN tokens not sold will be priced at $0.085. The total token supply is 1,000,000,000 VRN with a Soft Cap of 40,000,000 VRN tokens and a Hard Cap of 500,000,000 VRN tokens. Any unsold tokens will be burnt. The minimum buy is quite expensive, being 0.1 Ethereum (ETH), 0.01 Bitcoin (BTC) or $1,000 USD.
CHERR.IO: Blockchain Solution For Charitable Donations
CHERR.IO is a project which seeks to develop a platform for charitable, humanitarian and socially responsible organizations to operate. Through it, they hope to create a space which addresses the issues of doubt and mistrust that users have when making donations. They seek to provide real transparency, with low organizational costs and marketing fees, while avoiding instances of fraud and slow execution.
CHEER.IO will give organizations a reason to buy tokens, since they’ll be needed for subscriptions, to list campaigns, for advertising and for whitelisting. As for donors, they’ll be able to use tokens for rating organizations, allocating funds from an emergency pool and to confirm the legitimacy of spent funds. As for the token holders, they’ll be able to activate or stake a project for additional reward and participate in the rewarding system. The website is beautifully laid out, as is the whitepaper. The CHERR.IO team is off to a good start, winning 1st place at the Hackathon during the week of the World Economic Forum in Davos/Klosters Switzerland and Slovenia.
Token economics: The presale begins on May 15th and will last until May 24th. Bonuses will depend on when you purchase, ranging from 39% to 19%. As for the public Crowdsale, this will begin on June 1st and will last until June 15th. The CHR token is based on the Ethereum platform, with a total supply of 200 million tokens.
TALAO: Decentralized And Autonomous Platform for Talent
TALAO is an Ethereum-based project that aims to become a decentralized and autonomous platform dedicated to a talent on-demand model. Freelancers will be able to access a panel of companies requiring certain expertise, enabling them to benefit from smart contract-based payments and allowing them to build a community-based reputation, thereby disrupting the traditional working industry by eliminating its middlemen.
Through smart contracts, the platform certifies the professional reputation of its users. The plan is to have a 0% fee rate, which seems hard to believe. Talent can have their own resume and professional reputation certified by the community and stored in a decentralized reputation vault, allowing them to take ownership of and select the potential viewers of their qualifications. Businesses can get access to the certified skills of a talent pool, select the appropriate professionals, and find the profile that best matches their specific needs. Both parties can send and receive secured contract-based payments, convertible into fiat or cryptocurrencies, according to their agreement.
Token economics: The token name is TALAO and does not have a defined symbol just yet. The crowdsale will start on June 4th and will last until June 24th and people who wants to take part on this one will have to go through a Know Your Customer and Anti-Money Laundering process. 1,000 TALAO token will cost 1 Ethereum (ETH), with a Soft Cap of $5 million and a Hard Cap of $20 million.
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