W12.io | Blockchain Protocol
W12 — is an open protocol for creation and execution of milestone based smart contracts. Th protocol consists of smart contract templates (no programming skills required), DAO governance and a decentralized oracles network, that controls execution of the project roadmap.
Such solution protects any fund contributor from intentional SCAM and unintentional failure, consequently brings trust and transparency between projects and token buyers.
The fundraising campaign may be of any type: Charity, ICO — both utility and security, Crowdfunding and any other crowd sourced fundraise and governance.
Fundraisers set up DAO, roadmap and work in according to it. The Oracles or community of token buyers check if the campaign is reaching the milestones and release funds in tranches, only when the milestones are met.
The W12 protocol is designed to be easily integrated into any existing business, platform or organization. Inside of W12 ecosystem any of the parties can easily set up a DAO of the required type: contributor, receiver, fund or supplier. In addition, W12 provides a token sale platform, through which projects can sell their tokens and easily launch fundraising campaigns based on the W12 protocol.
What is the Vision and Mission of W12?
W12 Mission: To create an environment and a decentralized infrastructure where trust between parties in not necessary in any type of the deal and all controversial issues can be resolved quickly, transparently and rightfully.
W12 Vision: To become the largest global platform that will change the established centralized ways of attracting finance, that are currently limited by geographical and political frameworks. To provide every investor in the world with a decentralized solution that will building a global world future.
Crowdsource Market Problems & W12 Solution
Market Problems
• SCAM
o The level of fraud in ICO is extremely high and goes up to 81% according to some studies. (https://news.bitcoin.com/80-of icos-are-scams-only-8-reach-anexchange/)
• Low Survivability Rate of Startups at Early Investment stages (https://www.entrepreneur.com/article/288769 )
o The average survivability rate in the VC market and ICO’s is less than 30%
• Absence of Trust between Fundraisers and Fund Givers
o Without trusting one another, in order to settle disputes and make payments, the parties involved are compelled to trust traditional institutes on behalf of the state, and frequently do not have access to alternative solutions.
• Utility and Security Model Imperfections
o Both Utility and Security tokens lie on a set of rules that define them.
▪ It is extremely hard (or impossible) to adequately define the price curve of a utility token. In order to produce a price forecast, one should consider the expectations of the token holders, miners, the users of the system and other groups, that interact with the system. As building such a model is usually an impossible task, token buyers rely on the project developing team to work in according to the roadmap.
o Security tokens are currently illegal without formal registry with the Security Commission in the USA and alternative national commissions.
• Centralized Control Over Fund Use and Distribution
o 2017 has shown, that ICO can not survive in its current state. High level of scam and failure brought the” wisest blockchain” people to an idea of a crowd controlled ICO process. Vitalik Buterin proposed the idea of a DAICO. Although at the moment of release it was full of flaws, the general idea of gradual release of funds and decentralized control over them has found support in the crypto community.
The W12 Protocol Solution:
• W12 allows anyone to build (no programing required) smart contracts with necessary logic
o Any type of crowd sale can be carried out through the W12 protocol and platform
o Any type of decentralized control over funds can be used
• A decentralized oracle network developed to confirm the execution of project milestones
o Trust between counterparties and those who control the project development process is not needed.
o The decentralized oracles system allows for an unbiased control over the project development.
• Secure and transparent transfer of funds to the other party
• DAO
o A decentralized and autonomous way of organizing crowd funding campaigns.
o Funds will be released gradually after oracle milestone confirmation.
o Gradual release of funds and refund( if projects fails to deliver on its claims) will increase the survivability rate in the industry, provide more control over scam and decrease the risk of losing funds for fund providers.
The oracles in the decentralized W12 network transmit verified information from the external world to the blockchain and confirm the execution of the scenarios programmed in smart contracts.
W12 creates a system in which the parties do not need to trust each other, the settlement of disputes occurs quicker, more transparent and at a lower cost, providing a wide range of users with easy access to the benefits of blockchain technology.
At W12 we are creating a bridge between the crypto industry and the traditional economy by integrating our solution into real businesses.
The W12 solution allows to reconsider the role of the state as an arbiter in relations between parties and to relieve part of this burden from state institutions, shifting it to smart contracts and selfregulated decentralized organizations. The implementation of the W12 solution creates the basis for a new decentralized digital economy and is likely to affect many traditional financial and civil-law institutions in the immediate future.
In My Conclusion:
In my conclusion. I see that this project has a very big potential in terms of ICO ! This gives me idea of having an investment in it. While there where so many ICO’s scams nowadays this project will help everyone to avoid scam and trust any project that might been promoted. I really support this project and also push everyone to invest in it if only you are convinced but for me I am convinced and really proud with this project. Thats all and thank you so much!
This project is a great project and if you want to know more about this project or already convinced in this project just follow the links below:
Twitter: https://twitter.com/w12_io
Telegram: https://t.me/W12BountyChat
Medium: https://medium.com/@w12_io
My BTT Profile Link: https://bitcointalk.org/index.php?action=profile;u=2182909
My ETH Wallet: 0xB0c8191Bb9CBc42374B7004eEB84Ad1b83A51143
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