/biz/ - Business & Finance

[Anonymous No.21700721]

I'm the lead of a small Dev team and we have a Smart Contract project in the EU, related to natgas metering. We've got some contacts in the European commission (EU parliament members), in 2 national universities (throgh which we began publishing our research on our proposed tech) and in 3 national research centers and natgas monitor-ers which expressed interest in implementing our system.

Do you think I have a chance for some seed-funding through an ICO?
University funds are minimal (less than 10k a year) my country is rather poor (Mediterranean EU), and I'm exploring ways to get starting capital.

Should I not bother or should I explore it further?
I'll write our own core for the ICO through a Smart Contract, we won't need any outside help.

[Anonymous No.21700736]

>>21700721
Our own core*, not core, sorry.

[Anonymous No.21700825]

>>21700721
If you have a good team, past experience, and a vision I'm sure you can get some money. Though it depends on how much you need too I guess

[Anonymous No.21700913]

>>21700721
How do you intend to get the natgas data on-chain for consumption by your smart contract?

[Anonymous No.21700953]

>>21700721
Do you already plan on introducing a token? If the plan would work without a token of your own, what do you respond to someone who says “token not needed”?

[Anonymous No.21700992]

>>21700721
What’s this gentleman’s name?

[Anonymous No.21701054]

>>21700825
Our business and milestone plan is 5-years long, but I imagine you do not ask for your entire 5 year budget through the ICO. We're talking sub-million euros for sure. As a team has past experience and awards/honourships on blockchain and smart contracts, but it's the first time we try our hand at enterprise.

>>21700913
We have a needle sensor that can plug in on the specific spectrometers my country uses in the checking stations of the national natgas pipeline grid. So no oracle stuff, we record, inject and handle the data on our own.

[Anonymous No.21701110]

>>21700953
That's the thing that worries me the most.

Our system is utility, as in it doesn't need a token to work. We have began reworking the system to use a token - for data recording and proof that proper procedure is being followed, and also as certification of proper following of EU natgas handling law.

But no matter what, making our system work through a token so we can support an ICO is a rework, an add-on to the whole logic.

[Anonymous No.21701162]

>>21700721
reads like a shitty cashhgrab. you'll get nothing.

[Anonymous No.21701299]

>>21701054
>So no oracle stuff
Sergey betray
Probably not 5 years for an ICO as you should seek to be able to pay off operating costs by year 3 or so. Though you can look what actual accomplished investors say about how long you have to turn a profit

>>21701110
Why not make the ico stocks instead of memecoins?

[Anonymous No.21701507]

>>21701054
>So no oracle stuff, we record, inject and handle the data on our own.
You are making the point of a smart contract (trustlessness and determinism) redundant because we have to rely on you, a central source, to accruately convert the data on-chain. Therefore token not needed.

Or you could chainlink the checking stations which removes that central point of weakness, lets you focus on your platform and helps future expansion (eg. from your country out into the rest of the EU).

Chainlink is also giving out grants for projects exactly like yours. Read for more info:
https://blog.chain.link/introducing-the-chainlink-community-grant-program/

[Anonymous No.21701554]

>>21701299
Thank you for this

Our initial though for a memecoin was because we're techies - we want the coin to naturally gain value through usage, by being an integral part of our system's functionality.

For the tokens to be shares, they would need to be part of the economic model, not the tech model. Like the NEO/GAS system has.

I will look further into it, thank you again for your thoughts

[Anonymous No.21701746]

>>21701507
The thing is that the spectrograph machines are the ones handling samples of natgas from the high pressure pipeline - and they cost close to a million each. They are expensive infrastructure that for the time being cannot be bypassed, and we have to work with it, through it.

Decentralised oracle's couldn't help us if our point of data gathering isn't public, and still remains a central point in bationally-built (i.e. not replaceable) and specialized infrastructure.
Plugging in a sensor on an existing spectrograpg is "good enough" in trustlessness if we close off the sensor's OS and wrap it in encryption, making sure nobody can touch the code running on it.

Still, even if open source and automated, our system trusts the sensor, and has to, no matter if we use sergey's squareshirt tech to inject it onto the blockchain afterwards.

[Anonymous No.21701788]

>>21701054
>So no oracle stuff
It should be. Instead of coupling the whole thing into a tight package, investigate how you could decentralize your components. That is, see how you can create oracles (why not chainlink?) for your needle readers, then you have their potential for profit unbound by the bet that your contact is the best/most profitable use for that data, and see how you could make your contract feed off the oracle - it is guaranteed to be a more robust architecture than a centralized monolith. Not saying what you have isn’t a great start, but for a v2, that you should start looking into pretty pronto. Good news is you won’t need your own token then, you can use link to monetize your needle data and fund your smart contracts.

[Anonymous No.21701839]

Ok you guys won

I'll look into integrating link