Jury.Online search trends in Google
2017 can be called “The year of ICOs” where more than 1000 projects raised over
$3 billion. Teams that were willing to bring something innovative to the blockchain
managed to catch attention of millions of people all over the world. With blockchain
technology offering high security, new areas of application, extensive decentralization
and independency, it came as no surprise that cryptonomics, the emerging blockchain
economics, became a hot topic on the agenda of governmental structures, and at the
global media front pages. Now ICO, or Initial Coin Offering is considered a solid method
of project funding, though very different from more conventional approaches.
What is an ICO?
Wikipedia suggests that: “an initial coin offering (ICO) is a means of crowdfunding
centered around cryptocurrency, which can be a source of capital for startup companies.
In an ICO, some quantity of the crowdfunded cryptocurrency is preallocated to Investors
in the form of “tokens”, in exchange for...
There are still a number of problems the ICO-funding method is facing:
ICO Pros and Cons
Ease of funding Investing takes place without any intermediaries and additional
complications. All it takes to make an investment is a computer and basic
knowledge of cryptocurrency wallets.
Very high potential profit ICO projects has seen an increase by hundreds and
even thousands times, which is almost impossible in other fields.
Low or zero level legal regulation of ICO ICO is a relatively independent form of
fundraising. Investors and projects don’t have to officially register and report their
activities to authorities.
Project control. Un
like IPO funding and stock shares, tokens don’t necessarily give
Investors the right to govern project development. Therefore project developers
don’t have to satisfy investors’ whims and can concentrate on their original idea.
Unpredictability A Project cannot accu...
Jury.Online Description and Details
Jury.Online offers a solution for a responsible ICO. The concept is as follows: a project
breaks down its final goal into milestones with specified funding values and deadlines for
implementation. Then all the investments received through a smart contract are allocated
into parts which are needed to fulfill each milestone requirement. Money and tokens are
released step-by-step to each party. Unlike other forms of gradual money release, funds
are always stored in the smart-contract and their transfer is completely defined by the
smart contract code, which is known to the public in advance. Every investment in a
projet comes with a set of arbiters who will estimate the execution of the project and
resolve conflicts if they are to appear.
For Projects, this simplifies the funding process and search for investors, helps shape
goals and deadlines. For Investors it gives more control over the project development,
guarantees at least a partial refund and provides them w...
During ICO conduction Investors create Investor proposals in form of Ethereum smart-
contract stating how much they are going to invest and how many tokens they want for it.
Then Project reviews the investment proposal, either accepting or rejecting it. If there is
enough investments to cover the minimum needed cap, then the project development
Proposal also names the arbiters, who will estimate the progress of the milestones, and in
case of Dispute they will be making the final decision are going to make final decision.
Since the identity of Arbiters is made public, they have their reputation at stake. It
motivates them to provide an unbiased decision. The Arbiters are rewarded in JOTs for
participation in each Investor contract.
Token usage and fees
Jury.Online charges a fee for its services which can be paid either in ETH or in Jury.Online
Token (JOT). The fee in JOTs is fixed and makes 0.5% of the total amount of funds raised
via the platform calculated by market price, while ETH...
Oct - Nov 2017
Jury.Online collected 1552 ETH
Jury.Online collected 1552 ETH
Feb - Mar 2018
ICO and drafts development
October - December 2017
Technical WP release
Web version release
Android app release
iOS app release
Third-party pools opening
Integration with third-party services