W12.io | Blockchain protocol
Background
- W12 is an open protocol for creating various types of DAOs. The protocol consists of smart contracts, the DAO management mechanism, and a decentralized oracle network that control the execution of the milestones in the project roadmap.
- This solution protects users from intentional SCAM or unintentional failure of projects, reduce risks and expenses, create transparency and trust between projects and token buyers.
- The fundraising campaign can be of any type: Charity and Social projects, ICO (utility and security), Crowdfunding and any other crowd-sourced fundraising and governance.
- W12 is creating a decentralized infrastructure in which trust between the parties is not required and any disputes can be resolved quickly, transparently and at minimum costs.
- The W12 protocol is designed to be easily integrated into any existing business or solution. In addition, W12 provides its own platform for selling tokens with a user-friendly interface, through which projects can easily attract funds using the platform protocol.
Introduction
- W12 Mission: To create an environment and a decentralized infrastructure where trust between parties is 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 is currently limited by geographical and political frameworks. To provide every investor in the world with a decentralized solution that will be building a global world future.
Crowdsource market problems & W12 Solution Market Problems
- SCAM.
- Low survivability rate of startups at early investment stages.
- The absence of trust between fundraisers and fund givers.
- Utility and Security model imperfections
- Centralized control over fund use and distribution
The W12 Protocol solution
- W12 allows anyone to build (no programming required) smart contracts with the necessary logic.
- A decentralized oracle network developed to confirm the execution of project milestones.
- Secure and transparent transfer of funds to the other party.
- DAO, A decentralized and autonomous way of organizing crowdfunding campaigns. Funds will be released gradually after milestone confirmation. Gradual release of funds and refund (if projects fail 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.
W12 Solution Layers
The W12 protocol for creation peer-to-peer digital contracts
- Digital contracts templates
- The W12 decentralized oracle network
- The voting and decision-making mechanism
- The algorithm for digital contract execution
- Utility token sale platform
- Charity campaign platform
- Security token sale platform (legal framework in development);
- The mechanism for diversification of funds into other crypto-currencies and their lock up in smart contracts according to project choice.
Integration of the W12 solution in the Crowdsource markets
In the very near future, W12 intends to start using this technology for the Crowdfunding and Charity industries, which currently suffer from a lack of trust between funders and projects in their early stages. Currently, token buyers bear significant risks when participating in crowdfunding.
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 self-regulated decentralized organizations.
The implementation of the W12 solution creates the basis for a new decentralized digital economy and is likely to affect some traditional financial and civil-law institutions in the immediate future.
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