Live answers were recently given to important questions about the development of the company.
We have prepared a text version of the AMA session for those who have not had the opportunity to watch the video.
W12.io held an AMA session
W12 Team has recently held an AMA session after a long break. The team received over a hundred questions from different communities and chats. In the near future, W12 plans to hold AMA sessions regularly 2 times a month.
Goals
W12 is aimed at collecting 100 million US dollars by the end of 2020 for other projects with the help of its protocol and services. The main focus is charity projects, the non-profit sector, and sustainable development. Unfortunately, the current ICO market is not favorable to fulfill these goals, that was why the team has focused on the second important direction. However, if the ICO market re-develops, W12 will turn its attention back.
It is important for W12 that its token gains popularity and that other projects use it and keep it, store it, thus naturally providing 100 million for projects on the platform. The results will be extremely tangible both in terms of capitalization and with the development of the project that W12 plans to achieve in the summer of 2020.
Concentration on Social and Charity projects
The focus is based on social and charity activities. Since the customers do not overlap, it will be easier to build a brand for each separate platform. 3 types of projects will be available: for individuals, for non-profit organizations and for legal entities. The first version of the section for individuals has been made according to the plan. W12 will deploy the functionality within a week. The team has also built landing pages and parallel landing pages. W12 measured the key metrics, the cost of the clicks, the conversions into registrations, and the conversions into creating a project.
As for non-profit organizations, the first version is ready. Next week, the design and functionality will be updated.
Russian and American Markets
Intensive work is ongoing. W12 has signed 21 contracts with Charity foundations and Non-Profit organizations. Primarily, the team is focused on the Russian and American markets.
One of the US partners is a charity foundation called Develop Africa that solves problems for countries in Africa. The project developed by this organization on W12 is aimed at the creation of mosquito nets and protection against malaria. The Non-profit organisations in US are sometimes struggling with internal problems on their own markets. Therefore, W12 is ready to help by providing solutions for the transparency and interoperability of potential donors, who can actually find, invest in, finance, and maintain projects in a better and more transparent way thanks to new and innovative solutions.
As for the Russian market, W12 works with regional funds located in Kamchatka, Perm, Moscow and other regions of Russia. Among the funds W12 works with are “Forgotten Animals”, “Joy of Childhood” “Roads of Good”.
Development to be continued
The test version of the platform has already been deployed, individuals are being registered on the platform — they go through the steps, share links on their social networks.
At the same time, W12 also continues to develop the blockchain part. At the moment, the team is working on blockchain agreement, particularly on the part responsible for the addition of oracles and the voting of the oracles. The report concerning these technical works will be published on the website soon.
W12 about the Real Estate sector
W12 distinguishes segments by client type. The first step is creating a platform for individuals. W12 project stands out on the entire ICO market thanks to its unique marketplace and the W12 protocol.
The same goes for the Real Estate sector, where there is a huge need for transparency and consequent blockchain integration by W12. The W12 platform is open for everyone to register and with the help of traffic management, PR campaigns, the new projects will be attracted. This is a clear model and a working solution, which has already been tested. W12 added the blockchain part to this working solution and made the product work better and more efficiently.
New service: Blockchain-accounting
W12 is implementing a new service — blockchain accounting. The accounting on the blockchain makes it possible to record any transactions on the blockchain and, accordingly any third party will be able to audit all transactions. The release will take place over the following week.
New service: Pay when done
Among the innovative things that W12 has already planned, there is service which will be based on “Pay when done”. A person can do it in two ways: first, take the money, then do it, or vice versa. At first, everyone gives money for solving some important problem and then mini-tenders are organized. A large number of organizations compete for the completion of the contract. W12 will accordingly launch projects for the most important issues that people face now. It means there is a solution, for example, for the creation of vaccines for diseases and many environmental problems, because these are one of the main challenges that now exist, the need to reformulate activities. There are no analogs now and, in fact, W12 is creating such a convenient platform where people can cooperate and organize resources for solving the most complex tasks facing them, including largely due to this service.
New service: Petitions
Concerning petitions, there are some issues. For example, traffic. Change.org, is a service with a traffic of 50–70 million per month. The petition is signed online, however, the next thing awaiting is great traffic. W12 decided to speed up our fundraising service with transparency and people are able not only to sign the petition but can see clearly who took up the initiative and who will dispose of the money. Secondly, it will be possible to raise funds, to pay even $10 to support an activist, who goes to the authorities and pays to lawyers. The W12 solution suits countries with both developed and developing economies.
By understanding the process of attracting clients, the team will give users the maximum value for working with W12. The team will develop the project and provide the W12 Token with a large number of projects. 100 million is the goal that faces W12, its plan is to make more than a billion and W12 will move progressively to achieve it.
Legal works
Legal work is being carried out. Payments for charitable social projects will be made via cards. The system will work as follows: a person pays from the card, and W12 Tokens are put on the smart contract, that is, the exchange takes place at that moment. Another issue is related to cross-border transfers of funds. In this way, a person buys just the tokens and uses them for the transfer of funds.
Consequently, legal binding is also quite complicated. It is necessary to register companies for a specific region and this work is also underway. Accordingly, in about 1.5 months, W12 will lay out the opportunity of using payment cards for donations.
The FAQ related to the AMA session is presented below:
- IEO
W12 already has offers from many exchanges. Now the question is only whether it will conduct the IEO or not. W12 would like to start with the IEO with several partners. The team will need literally 10 more days. If W12 doesn’t solve the issues with the IEO during these 10 days, it will move on without the IEO option in order not to delay the deadline. In any case, W12 will announce the selected centralized exchanges in advance so that they can register, prepare and carry out preparatory work.
- List of Exchanges and partnerships
W12 has received offers from Bitmax, Kukoin, Exmo, Bitforex, Idax, P2pb2b and several others. The list is large, W12 has received confirmed offers and is now choosing the right partner, because W12 is not that concentrated on listing, rather on further development. The listing will be phased and progressive for the development of the token and maintaining the necessary volume. W12 is now working with partners who do market making and will also work with them on the exchange to ensure liquidity on our turnover and support it in every way.
The token is a digital asset, and a digital asset is extremely important for us, because our reserve fund is directly tied to the extent to which the project will develop successfully. If the project is successfully developed, then the token will develop successfully.
- When will the Oracle network be assembled?
First, W12 will add a part of the blockchain with the addition of the oracles, then it will systematically produce a pool. It will happen by summer. This will depend on specific projects. W12 will now launch projects for growing development. Experts will be selected for each project, researchers in a particular area. W12 will connect them as partners, W12 will announce, respectively that these experts will be oracles, because it is important that they accept a competent decision on the execution of a project contract. Progressive development will begin from the summer onward and the protocol launch with voting of oracles is planned for the fall.
- In addition to the existing version of the Real Estate project, are there any other similar projects related to the real estate sector, how do you plan to use it?
The real estate solutions are ready, but there is not enough legal binding. If you are into real estate, you can only trade on the secondary market and what to do there is not clear. Existing technologies already allow reducing risks and trading in real estate as a commodity, there is a registry, there is a smart contract, there is a protocol, there is no legislative basis, and this is the main obstacle in this market. There are certain variations how this can be done without providing partial liquidity, it is quite complicated.
The situation is similar to a service station, there is no problem in issuing shares and recording them in the blockchain. In fact, the tokenization of Real Estate is also the creation of a certain fund that owns this property and the tokenization of this fund is similar. W12 has postponed this for a little later period.
There is a lot we have to show to the clients, but the legislature is lagging far behind. It is important for the team to be unique within the framework of that field, that everything is transparent and that W12 has good relations with the regulator when deciding the legal side of the issue. At the moment, W12 is moving in this direction.
- How many people work in the company?
There are about 20 people in the company. Some developers are posted on the website while some aren’t yet, though they have been working for half a year already. We should update the site more often. In general, we have made good progress, we are moving with great speed and we don’t have time to release all the information available.
- Why do we need to hold W12?
By reaching at least partially the goals that W12 had set, the results will exceed its wildest expectations. Because a token is not an investment, not security, it is an asset and it can be bought and sold. They can be freely disposed of by the owners. W12 operates within the framework of the legal field, without giving the token any other functionality so that it will live as long as possible.
- When will the bounty tokens be unfrozen? Or are they already unfrozen?
According to the bounty, all the transfers are the responsibility of the community managers. As they are part of the team and their tokens are frozen. All the other bounty program tokens were transferred without freezing.
- When is the next airdrop? Who will participate in it?
It will take place on April 10 or 15. W12 has plans to do them once a quarter.
- How much will a premium account renewal cost?
Now there is no information on this. Accounts are now valid for 2 years. It will be clearer closer to the expiration of your account, so this information will appear in 3–6 months.
- Will there be a benefit from a premium account for those who will renew their accounts?
W12 plans to endow them with additional privileges over time. The team recorded their quantity. You can see how many and what types of accounts were sold, new ones will not be added, and the bonuses will be distributed among currently existing accounts.
- What is the team’s vision of the project in the future?
The team would like to see W12 influencing the achievement and implementation of the most serious decisions in the technological and humanitarian-social sectors. W12 chose the path of sustainable development, the team went to the UN, everything seems to be prosperous in the era of the technology, but globalization is taking tremendous steps, we need 5 planets to ensure that all countries have a similar pace of development. Green technologies require a slowdown in economic growth, which means death for any state. We need to think what will happen next. W12 wants to make its contribution so that these sustainable development problems do not happen. W12 will raise funds for projects allowing maximum contributions. W12 has to aggregate its own resources so that they succeed. The team has serious plans to launch its own blockchain at the environmental summit. W12 will announce it closer to the end of the year, but first, it needs to reach a certain level of capitalization.
- I do not see the “donate” button.
Payment solutions are not connected yet, they will appear within one and a half months.
- It turns out that fiat is automatically converted into tokens, minus the commission and the recipient converts them to fiat?
Correct.
- Should a charity project have a roadmap?
Of course, they have to specify what they will spend the money on.
- Will there be some sort of project sorting mechanism, for example, it pays a certain amount and goes up in the list?
At the moment, no such a function is under development. W12 will sort them by priority for those who donate money. The best projects will rise higher.
- Maybe there is a white paper or at least a page on charity projects?
Yes, a detailed roadmap will be posted on the site, there will be articles explaining how W12 works and what we do.
- When will the long sale be launched?
Not earlier than when the platform will start functioning with the internal token.
- Do you have plans for the release of a trading bot, using which one would be able to pay using W12? That would increase demand!
Please specify if you have an understanding of how they can pay using it. Let us know, it would be interesting.
- Does W12 follow the Binance Launchpad and what is happening there? Does W12 think that the IEO will put an end to ICOs, does the team consider it a competitor?
No, the team doesn’t, because it is the exchange No1. W12 is launching its own analogue of it for sustainable development, social projects. W12 will implement several mechanisms in parallel.”
- How can one become an oracle?
Within the projects, W12 will be the initiators, a part will be launched according to the “pay only when done” system, a partner network will be built for specific projects and oracles will be recruited. W12 will conclude an agreement with them to develop the project. If one has some competence in a certain area, the team will be very glad to have them onboard. W12 will make an announcement and send it by email in the summer.
- Date of listing?
Beginning of April, if a decision on the IEO is not made.
- The total number of tokens sold?
It will be published later.
- How will the rewards be paid to the oracles?
From the fund of the money raised.
- Do you plan to reduce tokens?
It is not planned yet because of the legal part. The legislation of many countries looks at it negatively.
- Is W12 going to launch security tokens on its platform?
The solution is ready, the team is waiting for the regulator. As soon as the legislative base comes along, everything will work.
- Are you still planning on Bancor and TXC?
W12 has had an agreement with them for about a year. They can appear as additional exchanges, but not as major ones.
- Are we going to create our own exchange?
Now W12 is focused on the key business process. Our task is to find our key point of effort.
- When will you start with real estate?
By the middle of the year 2020. Charity and social projects are in focus. However, W12 does not exclude the launch of pilot projects about real estate in the near future.
- Will there be an escrow service if I want to sell my premium account to another person?
The team does not plan to make such a service. W12 has big plans for development and is focusing on what will lead to results.
- Has W12 found a partner in China?
There are many different offers. Nothing worthwhile.
- What’s up with the American market?
W12 has pilot projects, it is time to get cases. The team registered a company in the USA, they connected payment solutions. This market is one of its top priorities. Traffic has already been tested.
- When will W12 be on Coinmarketcap?
Listing will take place after 3 months. W12 cannot guarantee anything since the organization is a private one, they consider applications according to a certain criterion. However, the team understand the importance of this promotion for W12 and is planning to be listed there in 3 months.
- Does the falling market affect W12?
W12 was almost the only project that continued to live and raise fees, the team fulfilled its commitments, and is going forward.
- How many premium accounts (by category: bronze, steel, etc.) were sold?
1433, The distribution can be found in our Telegram chat or in the emails you had received from us.
- How much in funds did you collect during the ICO?
More than 8900+ ETH
