Swachhcoin Ask Me Anything!
On June 19th 14:00 GMT, Swachhcoin’s leadership connected with its supporters on Swachhcoin Official Telegram Discussion Group to answer their most critical questions through a live Ask Me Anything ‘AMA’. Addressing the concerns of our community members has been one of the top priorities since the community is the essence of our project.
Due to the presence of 54,000+ members in our Telegram group during the Founders AMA, the answers were brief to try and respond to everyone we could. Some questions were missed, therefore we have a follow-up post with these answers.
Q: Please explain your project in few lines.
A: Swachhcoin has a disruptive vision of completely overhauling the waste management sector globally through it’s sustainable, rewarding, profitable and technologically advanced ecosystem. We at Swachhcoin believe that waste is the greatest untapped resource present in abundance all around us and a lot can be done by the present and future generations to overturn the prevailing mindset of masses towards waste. We have brought together a number of advanced technologies to be integrated with existing waste management strategies.
Q: Where are all you guys based from?
A: All the members of Swachhcoin are from India.
Q: Which exchange you will be listed on?
A: We have partnered with bancor network already and are in talks with several other exchanges where we will be listed post our ICO campaign. The names of exchanges will be announced as and when all the paperwork and formalities are completed.
Q: How is the pre-sale going?
A: We are satisfied with our performance in the Presale. All the things are on Track. We look forward to a much better performance in the subsequent round of our crowdsale.
Q: Why did u guys extend ur pre-sale?
A: The decision to update our crowdfunding campaign was taken due to a number of reasons. We published a detailed article for the same on our blog.
Q: Is it Swachhcoin or Swachh tokens?
A: SCX is an ERC20 based Swachh Tokens. The name Swachhcoin has been adapted to associate with a larger audience to give us an initial boost. We also look forward to launching our own blockchain in future and conduct token swap given we receive the required community support.
Q: What is the status of blockchain in India?
A: Indian Government, a number of startups and established organizations are actively looking to incorporate the dynamic features of blockchain in various aspects of their functioning. We are already witnessing a surge in the number of such ventures.
Q: What kind of expenses do u expect to incur in the near future?
A: Our modest funding goals of 18 Mil USD have been determined after thorough consideration of all the foreseeable and unforeseeable expenses that we will be encountering in the future. Post ICO, they will mostly comprise of the R&D related cost. Once we have our final product ready, we have the necessary mechanism and plan in place to take us to the break-even point.
Q: How much are your employees getting paid?
A: We have been blessed to be surrounded by extremely like-minded team members who completely associate with our cause and have gone beyond the expectations to compromise when it comes to their compensation. We are working to change this scenario soon where our employees are paid up and above the level of contribution they make.
Q: How big is the potential market of Swachhcoin?
A: The potential market opportunities for Swachhcoin lies in the difference between the total waste generate and the amount of it that is managed properly. Currently, the gap between the two is very wide. Swachhcoin works to decrease the gap between two. Read the “market scope” section of the whitepaper for more details.
Q: Is your project backed by anyone trusted in the industry?
A: Yes, we have a major backing from a number of organizations having years of expertise in the industry. Given the budding stage, we are in, we have received interest from other organizations that are working in this space. They are mentioned in the partner's section on our website and documents.
Q: What is the role of Swachhcoin as a currency?
A: Swachh tokens are mainly to resolve the open ledger reward distribution which is a key feature of our platform. We aim to make it a major payment settlement form in the waste management sector in addition to the other utilities mentioned in our documentations.
Q: Tell us about your advisors? How do they help?
A: We have a long list of experienced and diversified advisory board members who provide us continuous day to day assistance in various aspects of our working. They have gone beyond what was expected of them and we feel very satisfied to be associated with each one of them.
Q: Are you offering a guaranteed rate of return to investors?
A: No, we do not promise any guaranteed return to any contributor to our public sale. We promise to make the best use of the funds received and work according to the laid plan to the best of our abilities. Hopefully, everything else will fall in order.
Q: How is the life being an ICO team member?
A: We take immense pride to be a member of Swachhcoin Foundation. Your appreciations give us the needed morale boost to keep doing the good work for humanity as a whole.
Q: How much you have invested till now in Swachhcoin?
A: Most of the money that we have put into this project has come from the personal wealth of the founding team members. The exact number is something that we will be disclosed in our financial report that is being prepped at this moment and will be released soon for all to see.
Q: I would like to work in team Swachhcoin. When will you recruit members?
A: We have an extensive recruitment drive scheduled post token sales. Details will be announced soon. See you there.
Q: What will happen if you will raise less money than you expect?
A: In case we do not reach our soft cap, the board meeting will be organized to discuss if the project can be launched with the raised amount. If the raised amount is not enough to launch the project, all the contributions will be returned to the investors within a period of 7 days after the end of token sale.
Q: I wonder what is your lifestyle like?
A: At this moment? Hectic to say the least. Though we enjoy it a lot.
Q: How do you store/save your coins?
A: The funds are kept safely locked in smart contracts, multi-signature and cold wallets for utmost safety.
Q: How were said discounts determined?
A: We have determined the discount keeping in mind various aspects. The ongoing market condition, acting in the interest of our early supporters etc. We have also taken into account that our future investors are not hesitant to invest due to the discount is given to early investors. Hence, we have capped the Presale hard cap to only 1 million tokens.
If you haven’t yet? Join us on social media platforms and stay tuned for further updates. We look forward to your precious support.
- Join our Presale here: https://swachhcoin.com/pre-sale/
- For more details, visit: www.swachhcoin.com
- Email: info@swachhcoin.com
Join our Community here:
