VOLUM – ICO Detailed Information

VOLUM Streamlines Logistics & Supply Chain Management

VOLUM is a holding company that offers a multifunctional blockchain-enabled B2B solution applicable across numerous industries, with a special emphasis being placed on the companies that experience issues related to logistics and supply chain management.

Mitigation through diversification

Due to being structured as a holding entity, VOLUM is capable of mitigating the investment risks through diversification of investment weights among the companies included in its portfolio. Upon the completion of the planned IEO, VOLUM will acquire a minority stake in five companies, indicated below, with the further goal of obtaining similar stakes in various enterprises interested in exploiting the advantages of the Ethereum blockchain.

The holding portfolio and revenue model

VOLUM is a joint project of two companies: Bengala Technologies LLC, a developer of blockchain software based in West Palm Beach, Florida, and International Spirit and Beverages Group from Houston, Texas. Prior to the token sale, VOLUM made a settlement with the following five companies regarding the participation in the project:

• Software Developers Associates, Inc., the developer of decentralized marketing applications for the alcohol industry;
• Energy Rescue Systems, the producers of alternative energy devices for commercial use.
• ACME Financial, an international bank headquartered in Puerto Rico;
• GridPower Network, another Puerto Rican company that provides electricity monitoring services;
• ISBG, a producer of alcoholic beverages.  

The revenue model of VOLUM is based on acquiring dividend payments on the basis of its proportional ownership rights in the companies listed in the portfolio. The second income stream comes in the form of transaction and licensing fees collected in the course of platform exploitation.  

Token application and system features

The entire VOLUM ecosystem is fueled by a single utility token - VLM, which complies with two Ethereum technical standards: ERC-20 and ERC-721. A quick reminder that the former standard is related to the trademark smart contracts, the proper execution of which is essential for the VOLUM platform, whilst the latter is required for the issuance of unique non-fungible tokens and is also used for immutability purposes.

The employment of these two standards is required because of the multitude of types of transactions carried out on this B2B platform: wholesale purchases, filing of tax returns, tracking of shipments, issuance of legal contracts, verification of regulatory compliance, processing of customs documentation, identification of commodities, payment of dividends and rewards - just to name a few. The possession of VLM tokens is also required for gaining access to the platform and registering either regular or business account.

Speaking of smart contracts, VOLUM incorporates as much as three types of these protocols: operational, insurance, and reward smart contracts.

Operational smart contract is the basis for the intra-platform payment system and also acts as an escrow, generates timestamps and handles other feats like QR codes.

Insurance smart contract arranges for compensation for one of the parties in case the other party doesn’t fulfill its side of the deal that has been concluded on the platform.

Reward smart contract incentivizes the users with VLM for their activities on the network, provision of feedback, and sharing referral links on social media.

The VOLUM platform will be made accessible to government agencies, customs services, and revenue authorities which will be capable of auditing all operations in order to make sure they are compliant with corresponding legislation. 

IEO details

The sale of VLM is already underway, being carried out on the Latoken Launchpad. The IEO will end on June 17 or upon reaching the hardcap of $74.6 million. 1 VLM token can be purchased for the price of $0.334 that includes a 4.6% discount applicable till June 6. Citizens of the United States and China will be precluded from participating in the token sale.

Author: Alex Paulson for Crypto-Rating.com

• Q1 2019. Build VOLUM Platform MVP. Token generation event.
• Q2 2019. Close token generation event. Trial of the VOLUM platform before public release. Launch and onboarding of first companies to the VOLUM platform for pilot program. Airtab token implementation for Airtab App. Develop milestone program for investment in each portfolio company.
• Q3 2019. Start 2nd stage of development of the VOLUM platform. Implement remaining features and additional content to the platform. Onboard new companies and expand the use of the VOLUM platform.
• Q4 2019. Implementation of milestone program for the investments in portfolio companies. Business and financial licenses submission for ACME Financial. Blueprint development of blockchain architecture for ERS and GridPower Network. Smart contract development for ACME Financial. VOLUM platform marketing campaign to attract new businesses. Expansion of Airtab to European and Asian markets.
• Q1 2020. 1st stage of blockchain ecosystem development starts for ERS and GridPower Network. Prepare and package VOLUM platform for BETA release. Business setup and approval of the financial licenses and permits for the international financial entity in Puerto Rico.
• Q2 2020. 2nd stage of development of blockchain ecosystem for portfolio companies. MVP trial of the blockchain ecosystem for portfolio companies. Full release of all features on the VOLUM platform 2.0. Revisions of VOLUM portfolio companies and assess progress of 2019 and their course.