"The point I need to make here is that we didn't pay the SEC a penny."
On July 18th, just approved by the SEC, Blockcack, which is the ICO blockchain project based on Reg A+, can hold offline meetup in Beijing. Blockstack ecological development partner Xan Ditkoff and core engineer Hank Stoever introduce Blockstack's recent community update and application digging. Mines and other ongoing developer incentives.
After the end of Meet up, Odaily Planet Daily interviewed Xan Ditkoff. Xan introduced us to the current ecological development of Blockstack and the current progress of ICO.
- Below the Reg A+ and Reg S prices, Blockstack may face further selling pressure
- Early return on investment is up to 2000 times! Blockstack officially applied for US$50 million in token sales to the US SEC
- Babbitt interviewed to find real use cases for blockchain, Blockstack wants to sand in the app waves
- US compliant project Blockstack on line currency security, regularly paying $250,000 in marketing expenses
- US SEC approves Blockstack to issue the first compliance token, allegedly costing $2 million
- Deep analysis of Blockstack regulations
According to the news released on the official Blockstack website, the token sale began at 11:00 on July 11th (Beijing time, July 11th, 23:00), and sold 62 million tokens for 0.32, to 0.12. The price of the US dollar sold 78.33 million tokens to users holding token exchange vouchers, and plans to raise $28 million through this token sales.
According to Xan's introduction, the token sale lasts for up to 60 days. It may be terminated early according to the subscription progress. The token will be issued two weeks to one month after the end. The investor can freely trade after receiving the token, and then STX (Blockstack) The tokens will also be online at the exchange.
According to the official information released by Blockstack, participants are required to register at StackStoken.com. This token sale will be conducted in accordance with Reg A+ regulations. Blockstack clearly states Arizona, Nebraska, North Dakota and Texas. State residents are not allowed to participate, and residents of Japan and Canada are not allowed to participate. When asked if Chinese residents can participate, Xan said that he is not very familiar with Chinese laws. Whether Chinese residents can participate or not depends on local laws.
The following content is organized according to the interview content:
Q1: Can you introduce your business model? How to make a profit through Blockstack?
Xan: The purpose of creating Blockstack is not to make money for early developers. Now we are like Ethereum, which just started in 2015. Our goal is to provide developers with a decentralized development platform. In the future, we will establish an emerging blockchain ecosystem that is self-sufficient. The value of the system lies not in business profitability and revenue, but in the entire network itself, allowing more and more developers to settle in Blockstack and develop more blockchain applications and use cases, and these blockchain applications will expand their respective Business model.
Q2: How do you attract developers to Blockstack to develop DApp?
Xan: Our development process is especially simple. DApp developers can quickly and easily learn how to develop DApp applications on our platform. They can also show their skills on the platform through our online “Hack Marathon” competition. In addition, we also have APP mining incentives, we will provide DApp developers with a $100,000 bitcoin reward every month.
Q3: How many DApp developers are currently on the Blockstack platform? What are the characteristics of the geographical distribution of developers?
Xan: At present, there are about 7,000 DApp developers on the Blockstack platform. Most of our developers come from Western countries such as the United States and Europe, but Hank and I are here today because we have seen the importance of the Chinese market. As we all know, China and Japan and other Asian countries have deep research on blockchain technology, cryptocurrency, and decentralized applications. For us, China is a very important market.
Q4: Is there a lot of gaming DApps on Blockstack?
Xan: Not yet, mainly because our smart contract language is Clarity, our test network is online, but our main network is not online yet. We expect our main network to be online later this year. To develop some financial management DApps or betting DApps, we need to update our smart contract language. We are also looking forward to some of these applications on our platform in the future. Most of the devices that appear on our platform are still used in people's daily life, such as communication applications.
Q5: In an interview with The Wall Street Journal, did Ali (Blockstack founder) say that it cost $2 million to get the SEC's support? Where is this $2 million spent?
Xan: The point I need to make here is that we didn't pay the SEC a penny. We spent $2 million to draft the first SEC-approved ICO law and established the first SEC-approved law. The framework, and the pay for the staff who worked hard in the process, took up nearly 10 months. Because we are the first project to conduct ICO in accordance with Reg A+ through SEC audit, there is no precedent for any precedent, so we need to spend a long time educating the SEC to explain blockchain technology and cryptocurrency, just because we are In the first case, we have to set a good example for the blockchain and cryptocurrency industries. We can't make mistakes, so we spent a lot of time polishing and finalizing the details.
Q6: What is the current progress of ICO? Can Chinese residents participate?
Xan: I can't say too much about the details of ICO. According to the SEC, we have to wait until the end of the ICO to disclose the number of people participating in the ICO and the amount of funds raised. But what I can say now is that the current ICO is doing very well. Because I don't know much about Chinese law, and whether Chinese citizens can participate depends on local laws.
Q7: When is STX (Blockstack Token) expected to trade on the exchange?
Xan: After the end of ICO, after about 2 weeks to 1 month, we will issue tokens. After the investors get the tokens, they can trade freely. At that time, STX (Blockstack tokens) will also be traded on the exchange.
Q8: How do you evaluate EOS and DApp on Ethereum?
Xan: I am very optimistic about applications such as Defi, MakerDAO, and Compound. I think they have solved some different problems. I am also looking forward to the future. On our platform, developers can create DApps similar to the above.
Original article, author: king
Produced by Odaily Planet Daily
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