"BTRIC Coin"
Our cryptocurrency or token will be used to support projects in the Innovations Incubator.Project overview
BTRIC will develop and deploy a cryptocurrency or token for use in the Innovations Incubator program. The code name for this coin/token is “BTRIC Coin”, and we’ll just call it a coin on this page for ease of reading. The coin will be used on BTRIC’s platform to donate to projects of the donors choosing, while also funding BTRIC’s overall operations on an ongoing basis. Depending on how the coin is implemented, it is possible that it could be used as a donation method for other charitable organizations in the future.
This project differs from BTRIC’s other initial Innovations Incubator projects in one key area: this project does not become a separate business after incubation. BTRIC will continue to operate the coin platform to fund our operations on an ongoing basis.
Incubation period
We estimate that this project will take approximately six months to incubate and launch.
Incubation budget
We estimate that this project will cost approximately $50,000.00 USD to incubate and launch.
Project partners
We will partner with cryptocurrency consultants in determining the technical specifications of the coin and then develop, test, and launch it on our platform. Among other concerns, we want to carefully consider whether it should be created as a cryptocurrency (with its own blockchain, potentially mineable, etc.) or if it should be a token (on top of an existing blockchain platform). While in some ways, using an existing platform makes more sense, BTRIC has concerns about the stability and security of some of the platforms currently available. However, we remain open to consultations with cryptocurrency experts to explore this and other issues.
Launch method
Unlike other projects in our Innovations Incubator program, “BTRIC Coin” will be launched as an internal project (not as a separate business). We anticipate launching “BTRIC Coin” during the second or third quarters of 2018.
When the coin is launched, a date and time will be publicized for the first snapshot of BFD Token holders (something we will be doing for all projects). All holders at the time of the snapshot will be eligible for a free grant of “BTRIC Coin”, subject to applicable regulatory and legal requirements then in effect. Our website will facilitate the grant issuance process, which will vary depending on the technical specifications of the coin.
Help Make "BTRIC Coin" a Reality
For a limited time, BTRIC is conducting our launch fundraising campaign. When you contribute as a Founding Donor, we give you BTRIC Founding Donor (BFD) Tokens. You also have the opportunity to be listed and recognized as a Founding Donor. We accept fiat and cryptocurrencies. This is a limited-time opportunity to participate as a Founding Donor and receive BFD Tokens.
Holders of BFD Tokens will receive a free grant of “BTRIC Coin” when it launches later this year. In addition, on an ongoing basis, holders of BFD Tokens receive rewards from “BTRIC Coin” and every other project that completes our Innovations Incubator program (not only the projects we are working on now, this also includes every future project). It’s our way of returning valuable benefits and rewards to holders of BFD Tokens as recognition for supporting our launch.
