Interview with the CVproof Team
Today, I have interviewed the CVproof team on their ICO and future projects. CVproof.com is the distributed proof platform aiming at securing career credentials used in the job market. CVproof is listed to organize a token sale in Q2–2018.
1) What problem are you solving, why do you need the blockchain technology and what are the main pillars that define your company and differentiate you from your competitors?
Lack of reliable credentials in the job market is a permanent plague in all industries. Credentials are all information included in documents such as diplomas, knowledge and experience certificates, miscellaneous certificates certifying a requirement or assets in the career development. Nowadays those documents are almost all exchanged in digital format. Paper copies were highly alterable and the digital generalisation did not solve the reliability issue. The fraud is so widespread that HRs try in general to minimize the real scale of fraud at all layers of the job market and in all industries except in rare exception like in military sectors doing advanced and systematic vetting.
We use the distributed ledger technology for the inherent decentralized proof mechanism included in blockchain to secure professional credentials of all types.
2) What value are you adding to your industry value chain and which are the main obstacles to the success of your solution?
It’s a game changer. Our value proposition aim to secure in the near future 100% of career credentials at affordable cost to all. The solution will even be native in the credential issuance process. The secure credentials delivery platform will be almost transparent for the issuers and very convenient for the recipients in managing their validated data.
3) Why did you decide to launch an ICO and why do you need a public Token Sale?
The ICO is the natural way to introduce our token to the market creating a trading stream between contributors and future users (confirmed new users receive credit in tokens at the setup and the early contributors are the primary sellers for injecting tokens in the ecosystem platform).
The primary objective of the ICO is to create a community of early adopters around the project while at the same time enable them to benefit from the future profit CVproof will generate through the value increase of its token.
4) How does your token function within the platform and why is it needed? How did you decide the total supply and distribution among stakeholders?
The token will be a utility token used to settle all transactions on the platform. It will enable CVproof to engineer a revenue sharing ecosystem where each party involved in the value chain will receive a remuneration.
The total supply is mainly a decision to ensure a better user experience for our token holders.CVproof platform activities will generate a significant volume of transactions between users and the fee for those transactions will be in a number of cases below $1. Therefore creating a certain volume of tokens will prevent applying too many decimals to transact on the platform, making it easier to use.
Approximately 53% of the total supply will be for sale, about 30% will be allocated to a reserve for bounty, advisors and partners financing as well as future expansion of the company. 17% will be allocated to CVproof team and shareholder.
CVproof will allocate more than 30% of the fund raised to develop the ecosystem putting in place an incentive mechanism to support its user acquisition and boost the transactions occurring on the platform
This marketing strategy will not only enable growth, it will create a demand for the token ensuring its liquidity from day 1 of operations as CVproof will reinvest part of the ICO proceeds to finance this incentive mechanism by purchasing tokens from ICO token holders on the markets.
5) Where do you see the value of your token in the medium to long term and the ultimate benefit for the token holders?
CVproof token will have a tangible utility value, resulting from the benefits CVproof will bring into the market, in terms of cost reduction, efficiency, transparency and security.
We expect our token be a very liquid due to the nature of CVproof ecosystem. Most of the transactions occurring on its platform will be regular, day to day type of transactions covering a wide range of activities and needs, related to the job market. As a result, there will be a growing and recurring flow of transactions taking place on the platform boosting the demand for its token.
This will lead to a multi-way ecosystem of token buyers, sellers and receivers creating different level of contribution to the workflow according to the services they need or the ones they provide.
6) Thinking about the future, what are your plans after ending the ICO? Are you afraid that the volatility of the cryptocurrency market might affect the economy of your project in any way?
CVproof will launch its pilot phase in the aviation industry upon ending the ICO.
We expect the price to follow the global crypto market in the short term, until the size of the CVproof ecosystem reaches a critical mass at a 2 year horizon. From this moment, the value of our token will be driven by the utility CVproof will bring to the market underpinned by an increasing flow of transactions, much more than the broad market.
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Disclaimer: This interview and the information contained herein is not intended to be a source of investment, financial, technical, tax, or legal advice. This interview cannot substitute for professional advice and independent factual verification.
