Swarm: Crowdfunding with cryptocurrency 2.0 technologyby Armand Tanzarian @ 2014-06-05 01:20 PM
Joel Dietz believes crypto-equity is the next step in unlocking the power of blockchain technology.
So, on June 17, he is launching Swarm, the first distributed incubator that allows companies to raise funds by issuing their own coins.
The launch will include a two-part crowdsale of Swarm Coins. If that sounds familiar, perhaps it’s because of the runaway success MaidSafe had in April, raising $8 million in five hours in its own crowdsale of mastercoin.
Dietz says this distributed approach to raising funds ultimately benefits more people.
“Instead of a single round of fixed quantity available only to the already-rich, you can approach your next-door neighbor or future customer and sell him your new appcoin before it’s even built,” Dietz said. “The benefits are a faster, freer flow of money, something that enriches you as you enrich others.”
“Instead of a single round of fixed quantity available only to the already-rich, you can approach your next-door neighbor or future customer and sell him your new appcoin before it’s even built.”
Dietz beliefs that the collective intelligence of decentralized networks can work more effectively and evolve more quickly than centralized systems can. Swarm is his attempt to bring this idea to the field of digital application creation.
The first phase of the crowdsale will last until either June 27 or when 4,000 BTC worth of Swarm Coins are purchased, whichever happens first. Afterward, there will be a four-day rest period, followed by the second phase. That phase will end when 17,000 BTC worth of Swarm Coins have been sold.
Here is how the value of Swarm Coins will break down:
• At Day One of Phase One, one BTC will be worth 5,250 Swarm Coins. That price will gradually decline.
• By the last day of Phase One, one BTC will be worth 4,750 Swarm Coins.
• At Day One of Phase Two, one BTC will be worth 4,250 Swarm Coins. The same gradual decline applies.
• At the end of Phase Two, one BTC will be worth 3,650 Swarm Coins.
“An indication of interest has already been held to the amount of 500 BTC,” Dietz said. “These commitments are being held in escrow for the first day of the public crowdsale.”
Coin Telegraph spoke to Dietz this weekend at the Central European Bitcoin Expo in Vienna.
“It was exciting to see so many faces in Vienna, especially the teams who are giving birth to Bitcoin 2.0 like Counterparty, Ethereum, and Mastercoin,” he said. “I couldn't think of a better place to launch Swarm.”
- 2015-02-27 11:17 AM
American Green President: 'We Need a Healthy, Stable, Bustling Bitcoin Economy'. American Green became the first publicly traded medical marijuana dispensary brand in the world in 2009. Since then, the company has developed retail, brand, and commercial cultivating solutions in pa By Allen Scott
- 2015-02-27 01:06 PM
FEB 27 Digest: Gavin Andresen Seeks to Speed Up Block Validation, Coinsetter Aims to Improve Trade with BTC Blockchain. Bitcoin Foundation Chief Scientist and former lead developer of Bitcoin Core, Gavin Andresen, believes to have come up with a solution to vastly speed up block validation, the global bitcoin exchange By Aaron van Wirdum
- 2015-02-27 04:16 PM
First Global Credit Launches Trading Competition with 10BTC Prize Fund. First Global Credit announces a 10BTC trading fund for the winner of a market trading competition. From March 16, users taking part will have a month to trade their way through global financial market By Charlie Richards
- 2015-02-28 10:50 AM
SuperNET’s Decentralized Exchange Aims to Put an End to Bitcoin Bank Heists. SuperNET version 1.1 Beta has been released on February 26, signaling a new era for cryptocurrencies, decentralized exchanges, and financial privacy alike. It is available for Windows, Mac and Ubuntu. By Juan S. Galt
- 2015-02-27 09:29 PM