Andrew Lockley – Exponential Investor (United Kingdom) –
At the recent Southbank Investment Research Tech Investor’s Symposium, one investor asked me what I thought about ICOs. These are the “initial coin offerings” that constitute the birth of cryptocurrencies, such as bitcoin.
At the time, I made no attempt to disguise my scant knowledge on the subject. But since that very public drubbing, I’ve been doing my best to get myself – and Exponential Investor readers – fully informed on the subject. To that end, today I’m interviewing Ida Froyda of CORION – who’ll be telling us all about its forthcoming ICO. I’m sure you’ll find it an enlightening piece.
However, if you’re seriously interested in profiting from the spectacular gains in cryptocurrencies, you’ll need to go far beyond Exponential Investor’s fleeting treatment. To give you an idea of how much profit you may have missed out on: bitcoin alone is currently trading at far more than double its January price – and other cryptocurrencies have done far better. Far from being a flash-in-the-pan, these gains are part of a wider pattern – which has seen some investors turn tiny stakes into fortunes.
I’ll now hand you over to Ida, who’ll brief you on the details of CORION’s ICO.
AL: Firstly, what is CORION?
IF: This comes down to a simple question: is the use of cryptocurrencies to remain the privilege of the minority, or become the daily practice of the majority?
CORION is to give the answer, with its disruptive multifunctional, decentralised ecosystem. It’s engineered to break the traditional crypto set-up and involve mainstream users.
AL: Why is it disruptive?
IF: CORION is a stable-price token. It’s engineered to eliminate the guesswork that comes with fluctuating prices. Its special automated inflation-deflation control, and the demand-based coin release assures stability of the CORION coin as a means of payment worldwide. It keeps the value of one coin tied to 1 USD. If the price of CORION rises above one dollar on the main exchanges, the system will release a maximum 2.5% of additional coins daily. If the price drops below one dollar on the main exchanges, the coin release will stop until demand takes it to one dollar or above.
This concept is disruptive to the industry because traditionally, all cryptocurrencies have been speculative – posing serious risks. That speculation has kept key players, like business owners and the “Average Joe”, hesitant to participate in this new frontier. They’ve missed out on the benefits of this cutting-edge technology.
AL: How exactly does CORION work?
IF: The CORION Platform is built on Ethereum Classic blockchain and ten smart contracts, to make it extremely user-friendly and secure.
AL: What would encourage mainstream adoption of the CORION Platform?
IF: We have to understand that we must give solutions for three major issues: price stability; easy access to the system; and getting benefits from using the platform.
The ideal situation for new users is one where they can dive in, and swim with the big fish – without the risk of being swallowed up. This poses the question: how can organisations operating in the cryptocurrency space make it more accessible to everyday users – while reducing the risk of loss posed by market speculation and price volatility, driven by big players seeking to profit?
CORION has developed not only a new coin, but an entire financial ecosystem, designed to encourage adoption by new users. The easy-to-use interface and wallet makes buying and accounting for this stable-rate coin as simple as traditional online banking.
When cryptocurrencies are stable, people are more likely to use them for payments. You would not accept a digital asset to pay for your goods if you know its value can drop 50% in a wink. Instead, you want to use something that you believe will hold a very similar value in the future. That’s part of what makes CORION so compelling.
Still, the most noteworthy quality of CORION may be its accessibility. Our vision is the widespread use and adoption of cryptocurrencies through the CORION Platform, which we believe offers the “easiest access to the crypto world”. The concept is to stop cryptocurrencies from exclusively courting tech-savvy investors. We want to start creating a space for everyday users.
AL: Can you tell me more about your wallet technology?
IF: The CORION Wallet is the main interface of the platform. It is the simplest ever entry point to the crypto world.
The one-click multifunctional wallet, with its special features, grants you access – to efficiently and conveniently use the platform. The CORION Wallet will be able to transact with the most-used cryptocurrencies, as a unique payment gateway – contributing to the massive mainstream adoption of cryptocurrency usage in the future.
Let’s not forget that playing and winning is a human value. Those who are new to the market are usually priced out of the cryptocurrency mining game. Without the financial resources to gamble on ICOs, most mainstream users have little to gain from buying into new currencies – and plenty to lose. Without the hope of big profits in front of them, there is little incentive for newbies to buy into the cryptocurrency system; a problem which is compounded by the lack of user-friendly options for those with less advanced technical knowledge.
AL: How could a new user win by joining the CORION Platform?
IF: CORION has developed a unique coin-release reward system, to distribute the new coins among the community members. This avoids that situation where a few “miners” take all the benefits. This is unparalleled in current crypto practices. The service providers are the reward distributors of the daily 0%-2.5% coin release; they fill one’s wallet with additional coins every day, when there is demand at the value of one USD each.
To put it simply, CORION doesn’t rely on price fluctuation or instability to grow in value – instead, the value of one’s wallet increases by the automated distribution of the coin release between 0% to 2.5% daily. As the number of users rises, demand for the coin grows – and more coins are released. These gains are then passed on to those who are actively engaged in the platform – the coin holders and users, themselves.
This way users are not only incentivised to join, they are offered deeper rewards for actively participating within the platform’s community. This includes establishing relationships with other community members and businesses. When coin holders use CORION to conduct their daily business, they receive daily rewards from new coin releases, for completing their transactions with the service providers connected to CORION’s thriving marketplace.
Though CORION is currently the only platform which offers rewards in addition to a user-friendly interface, secure wallet and integrated P2P exchange, it is exactly this type of incentivisation which will encourage the large-scale adoption by everyday users – helping the fintech industry reach and engage a wider audience, and ensure that the use of digital currency spreads to users across the globe.
AL: How is the ICO going and what is the future of CORION?
IF: We are in the peak of our ICO crowdsale, which started on 18 June and CORION is already in high demand – with two million USD in support collected from early participants. Our platform, including the wallet, is ready to go live, after the ICO is completed at the end of August.
Finally, let us know your thoughts. Do you think that ICOs represent an attractive investment opportunity? Is CORION’s flat-priced cryptocurrency a genius idea, or an unworkable one? Email us at: email@example.com.