Project Briefing of Bitcoin Crown (BTCC)

Sutapa Paul

Published in

Bitcoin Crown

8 min readApr 30, 2018

Purpose

Virtual Goods on the Blockchain

A decentralized platform to manage, distribute, and trade virtual goods. Giving Gamers and content creators a new model of virtual ownership.

The first easy to use Gaming Cryptocurrency

BTCC Coin is the first cryptocurrency with an authentic purpose for online gamers. Earn and trade virtual goods in the most popular gaming community creation platform online.

SDKs for the Game Industry

BTCC Coin platform is made for the game industry. SDKs for multiple languages, wallets and payment platforms will be available and completely open-source.

A new gaming experience

with real ownership & value

Online gamers can bring or trade their assets from game to game, community to community, growing their digital wallet with real value as they play.

A solution to Fraud & High Fees

For every legitimate virtual item purchase 75% items are lost to fraud. BTCC Coin minted Tokens will create trust and security with minimal transaction fees.

Backed by Communities & Creators

Millions of engaged gamers

BTCC’s millions of highly engaged users socialize and work together to create unique communities, game content, and virtual economies. By providing the tools they need, BTCC empowers these creators to monetize their content.

Game value & content creation

Sandbox games, such as Minecraft, are the most popular games online. Using BTCC Coin we will promote a culture of passion, collaboration, and pride by giving players more control over their game content. Players that feel valued will keep coming back, and increase revenue and engagement for publishers and content makers.

BitCoin Crown adopts BTCC Coin

BTCC is uniquely positioned in the virtual goods market to promote and establish a Cryptocurrency. We give gamers, communities and game creators high quality tools for monetizing their gaming world.

Challenges

Payment Fraud

It is estimated that for every legitimate virtual purchase made, there are 75% virtual items lost to fraud, Assets stored and managed online can be open to manipulation or chargebacks. Merchants have to deal with extra burdens, and scammers damage the game’s reputation.

High Fees and Slow Transactions

Game publishers and communities rely on third-party platforms to process virtual goods transactions. Gamers encounter slowness, opaque fund flow, and high transaction fees.

Lack of True Ownership & Rarity

Virtual items are, in-essence, licensed to the gamer and are often only available for use on their proprietary platforms. At times they can be manipulated, lost, or taken back with little recourse for the user. Genuine transparency is missing.

Locked in and Centralized

Digital items and currencies are usually locked to a single game and not transferable. Trading items outside of the game environment is cumbersome and difficult. If a player gets banned, they can lose all of their items and currency.

No open standards

There are currently no widely-accepted standards for decentralized currencies and assets in games. The user experience is often an afterthought, so users don’t know what to expect.

Expensive & time-consuming

Developing a platform for managing virtual goods is time-consuming and costly. The complexity of managing a virtual economy on proprietary infrastructure delays time to market. Security concerns introduce a further set of difficulties.

Lack of value gamification

Value based gamification features are lacking in content management systems and forum software. Users do not get rewarded in real world value for participation or contribution.

Solutions

BTCC will develop tools that enable game publishers, game servers, and communities to manage virtual goods and in-game items across multiple platforms. Monetization using BTCC Coin will be a key focus with robust features and toolsets provided. Great benefits will be gained by utilizing a decentralized platform and the supporting frameworks.

Benefits for Communities

● Gamify your website and mobile community with custom BTCC Coins

● Increase user participation and contribution on forums and walls.

● Automate rewards and setup a variety of condition based triggers.

● Tie-in your community rewards with in-game goods on servers or games.

Benefits for Game Publishers / Content Creators

● Create new tokens to represent virtual currencies, game items, or privileges.

● Create and manage virtual goods programmatically or via an app.

● Create time limited or subscription based virtual goods.

● Mint non-fungible items or special edition items.

● Setup a virtual goods store.

● Run a decentralized payment gateway with no middle-man.

● Transparent transactions. Setup reports and commission systems.

● No fraud, chargebacks, or cancellations.

● Minimal fees for blockchain transactions and no commission fees.

● Open-source suite of APIs and SDKs for every popular platform and engine.

● Smart wallets that facilitate easy automatic payments from users.

● Easily setup a site and mobile community with full virtual goods integration.

Benefits for Gamers

● Buy & sell items with no risk of fraud.

● Trade between gaming items from different games using Bancor for liquidity

● Take your currency with you across any community or game and retain value.

● Own valuable currency and rare items that can never be taken away.

● Use BTCC’s marketplace and social network to find and trade game items.

● Earn BTCC coins playing games.

● Convert custom virtual goods directly back to BTCC Coins and retain value.

● Earn coins by participating in communities and posting on forums.

● Buy in-game items on thousands of game servers and games that support BTCC.

● Prove ownership of items by showing them off in website widgets.

The Team

Token Crowdsale

Allocation

Only 70 Million BTCC tokens will ever be created. Among them 20 Million will be send as bonus tokens. The BTCC tokens are intended to be allocated as follows:

60% (30,000,000) to be sold by BTCC to Crowdsale purchasers minus any bonuses applied in the Crowdsale Period.

20% (10,000,000) reserved by the Company to incentivize community, beta testers, marketing and strategic partners.

20% (10,000,000) to be distributed by the Company to the BTCC Coin Team and Advisors.

Unsold Tokens & Team Vesting

● Any unsold tokens in Crowdsale will be burned.

● Team tokens are locked for the first 6 months, and will be vested over a period of 24 months total. Team members will be transferred 25% of their tokens after 6 months, and then 12.5% every 3 months afterward. The team list may be updated during the 24 month vesting period.

● Advisor tokens are locked for 2 months and distributed fully.

Crowdsale Start and End Date

The crowdsale will begin at 5 a.m. PDT March 25, 2018 (the “Launch Date”) and end at 11:59 p.m. PDT on April 30, 2018 or when sold out.

Check the official website: www.bitcoincrowncoin.com for further information.

How can I participate?

Detailed instructions along with the contribution address will be posted on the official website: www.bitcoincrowncoin.com

How are funds secured?

All funds collected during the crowdsale will be deposited in a secure multi-sig wallet. Keys will be held by Executive Directors of Bitcoin Crown Ltd. making it so that all outgoing transactions have to be verified by multiple parties. The crowdsale smart contract code on BTCC’s GitHub will be public and available for audit by anyone.

● ETH exchange rates are subject to change without notice prior to the start of the public crowdsale. Once the public crowdsale starts the exchange rate will be locked.

● The prices for the presale are not subject to change and will remain the same and have no effect on the public crowdsale.

Funding Allocation

All funds contributed in the Crowdsale will be used solely for the development, promotion, and growth of BTCC Coin Platform. Below are the preliminary allocation and the distribution and may be subject to change.

50% Development

This refers to the development and operational costs of all technology described in this whitepaper, including smart contracts, wallets, SDKs, APIs, game plugins, third party plugins, and any other BTCC Coin-related updates. This will also cover hiring additional full-time developers and consultants to accelerate development so that we meet or exceed the roadmap goals and expansion goals.

30% Marketing & Growth

The marketing budget allows for a constant and relentless promotion of BTCC Coin to gamers in multiple target countries and gaming segments. This will be used for video and in-game advertising, promotional events & tournaments, sponsorships, mobile & social media ads, and liasoning with studios.

5% Security

We are taking the necessary steps to ensure that optimal security standards are followed in every release. This includes professional code audits and penetration testing on all APIs, smart contracts, Mobile and PC wallets, plugins and SDKs.

5% Legal

BTCC will obtain the appropriate legal advice to always ensure that we operate in accordance with the laws and regulations of each jurisdiction that we do business in. Funds will be held in reserve for any future issues or challenges that may arise in any region.

5% Hosting & Infrastructure

This will cover a minimum of 5 years of increased costs required for expansion of the web servers, firewalls, load balancers, DDOS protection and network for anticipated increases in Traffic to the web platform and public JSON-RPC API.

5% Contingency

This amount will be set aside for unforeseen costs.

Development Roadmap