Crypto-Potential is a Swiss blockchain project that came up with an idea of a proof-of-achievement system that provides all participating companies with the means for mining QCP, the utility tokens compliant with the ERC-20 standard. The mining of tokens will become available only after a company acquires one or several special badges which are awarded for specific achievements.
The core idea is to galvanize both fledgling and well-established blockchain businesses into making real achievements that are relevant for a given industry. In addition, the use of blockchain and the proof-of-achievement system will help reduce the time required to carry out due diligence to mere seconds while ensuring the transparency and fairness of this process thanks to the use of blockchain and the Crypto-Potential badges.
The projects LinkedIn profile states that it is headquartered in the municipality of Root, Lucerne, Switzerland, though the official website doesn’t contain any specific details about the legal addresses, licenses, or regulatory compliance.
Apparently, Crypto-Potential wants to refute the famous Pareto principle, also known as the law of the vital few, which states that only 20% of activities actually yield 80% of all results, which implies that the other 80% of activities are virtually futile. The project went as far as stating the 90% of all efforts made by the company employees are neither rewarding nor profitable.
As a result, the businesses are placing excessive emphasis on just two components, capital raising and sales, which they deem most important, while often putting such things as market analysis, compliance checking, etc. on a backburner, which ultimately results in a sub-par product or service.
In order to address this problem, Crypto-Potential developed a system in which the emerging blockchain projects are given special badges for such activities as thorough market analysis, team verification, provision of a minimum viable product (MVP), assurance of token compliance, and evaluation of the project’s overall impact on the industry. Once the participating company successfully carries out any of these procedures, it receives a unique crypto badge which is displayed in the corresponding profile. The types of badges and the requirements for their obtainment are the following:
Once the project gets awarded with the sufficient number of badges, it becomes eligible for the mining of QCP tokens on a weekly basis.
The pre-sale of QCP tokens will commence on September 15 and will last till November 15. It is going to be followed by two rounds of the public sale, the dates for which are yet to be announced. Crypto-Potential allocated 1.8 billion tokens for sale - all unsold tokens will be effectively burned. The pre-ICO price of 1 QCP is $0.01; early investors will receive the 25% token bonus. The first and the second rounds of ICO also provides for 10% and 5% bonuses, respectively. The softcap is established at $3 million - the hardcap is $9 million. The United States is the only country on the list of restricted areas.
| Start | September 15, 2019 |
|---|---|
| End | November 15, 2019 |
| Expired |
Crypt-Potential is making things way too complicated with all that system of badges and whatnot. These guys should have realized that businesses today aren't fully ready for the blockchain technology and everything that it entails, including mining. I think that no one would want to figure out the nuances of the system of crypto badges, offered by this startup. Why would anyone want to go through all these motions just to be allowed to mine a no-name crypto coin?
It's so great that people manage to find more and more applications for blockchain technology which is bound to make our world a better place. Lowering the business cost is a very promising goal which can be achieved by Crypto-Potential in a span of no more than three years. I also like the Proof-of-Achievement mechanism, which really could serve as a decent incentive for the business community to make a valuable contribution.
What I found interesting about Crypto-Potential is that nearly all of its team members have recorded and posted short YouTube videos where they present themselves and get the viewers acquainted with their role in the project. I don’t remember anyone doing that before, so kudos to Crypto-Potential for making this effort to earn credibility by being more open. I am also impressed that they have managed to land such a big project as Brave as their partner so early on in their development. This illustrative of project’s prospectivity.
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