Why do you raise funds for JACS?
While all highlighted issues around the ‘IPv4’ protocol had been identified three decades ago, its proposed successor ‘IPv6’ has taken more than a couple of decades to replace only a small portion of the Internet infrastructure!
It has been proven that this uplift needs huge effort and development, that, of course, translates to the need for money.
And because we’re talking about blockchain and crypto, we opted to follow the traditional ‘legacy’ way for crowdfunding: Initial Coin Offering ‘ICO’
The coin for this ICO is ‘JACS’ token, it’s actually a utility ‘token’ not a ‘coin’
What is the difference between a coin and a token?
The purpose of a coin is to act like money, as a unit of account, store of value and medium of transfer.
Coins tend to have their own native blockchain like bitcoin, Litecoin and others.
On the other hand, tokens do have value, but they cannot be considered money in quite the same way that a coin can.
Tokens are generally hosted on another blockchain, like JACS, that is built as an ERC-20 toke over the Ethereum blockchain.
Tokens offer functionality over and above that of digital cash. They may deliver value to investors, beyond speculative returns.
In practice, the use of these terminologies is not yet a clear-cut. The terms ‘coin’ and ‘token’ are sometimes used synonymously. The blockchain industry is still young, so the language will evolve over time. However, most industry insiders agree on the broad distinction that a coin is cash and a token is basically everything else.
What is a utility token?
A utility token has a wider functionality than a coin. Utility tokens do have value, but they can’t be considered money.
Utility tokens can provide value to investors in different ways. They give them access to a product or service over the specific developed platform.
Let us consider an ‘Uber’ token — for example — that could be used to pay for a ride with Uber only and not for anything else. If you wanted to use the Uber token to buy another product or service, you would first have to exchange it against either fiat money or another crypto coin such as bitcoin.
What is an ICO?
Typically, a tech startup (like viaBlock LTD) develops a digital product (like JACS) and initiates an ICO. During the ICO, the company sells utility tokens. Investors can buy these tokens for future use over the platform developed by viaBlock LTD.
It is simply, asking people to invest money in your project (usually in terms of crypto currencies, but it can also be in fiat) and in return, you send them back some tokens.
It’s important to note that, unlike an initial public offering ‘IPO’, investing in an ICO won’t result in you having an ownership stake of the company you’re giving money to.
You should do your own due diligence thoroughly to reach the decision that the currently worthless token you invest in now, will increase in worth later and make you money.
What is your current state time-wise?
JACS is currently on its Pre-ICO phase, where the token price is set to 0.00018 Ether along with decent discounts for early-investors
During the ICO, that will start on the 1st of November 2020 and will last for 28 days (4-weeks), the price per token will follow a step increasing function, that starts from 0.0002 Ether on the first week and ends on 0.0005 Ether on the last week.
