Q: Hi Vincent, Tell us about yourself
I’m a serial tech entrepreneur. I studied at HEC (top business school in France) and UCLA (MBA program). I started my career in investment banking but quickly became a consultant at the BCG. In 2009 I founded an AI company called Planorama, which is now worth $25 million.
Q: Tell us more about your team! Do they all have background of crypto?
Yes, many of our developers have blockchain / crypto background. One of our technical advisors is a founder of Ethereum. But our team is also comprised of industry experts: for example, we are advised by the former Director of Strategy at NYSE and Euronext.
Q: What inspired you to do an ICO?
We started to work on ChainTrade at the end of 2016 and wanted to move the trade of food and raw materials to the blockchain. Now that we have a working prototype, we need more money to make it a scalable product and start attracting buyers & sellers to the platform (budget for sales & marketing). From there came the idea of launching an ICO to finance the development of the company and the product.
Q: How did the idea of ChainTrade come about? Is this something you were doing before?
Yes, I started my career in banking and I have many trader friends. The trade of commodity derivatives today (food and raw materials) is extremely centralized, high fees are charged, with many intermediaries, and only big financial institutions can access it. We want to decentralize this market, dramatically lower the fees (cut them by more than half), and make it accessible to anyone in the world – big and small players.
Q: What is the cap for your ICO and how did you come to choose that number? What do you think of unlimited ICO’s?
Our hard cap is $50 million USD, because that’s the amount we’ll need to complete the project to its full potential. I don’t agree with unlimited ICOs as they reflect the fact that there is no real business model behind them.
Q: If you successfully crowd sell with your ICO, where will your company be based?
The company is registered in Singapore, which is a major competitive advantage over potential competitors, because Singaporean authorities are much more business friendly than in the US or Europe. Therefore, we will move much faster in obtaining the necessary approvals or licenses than we would if we were based elsewhere.
Q: To what level of scrutiny do you feel ICO’s should be held to?
ChainTrade is fully transparent with its project, business plan, team, and administrative/legal aspects. I think all ICOs should have the same level of transparency, so that contributors to ICOs can choose what tokens to purchase in full knowledge.
Q: Do you have a background in conducting due diligence on crowdfunded projects?
Q: In addition to cybersecurity, what do you feel must be understood when performing due diligence on cryptoprojects?
The most important to understand is the business model and business perspectives of the company / project.
Q: What is your “bird’s eye view” of the blockchain industry as a whole. From what you’ve seen, what aspects of token crowdsales could be improved?
I wish that only pure blockchain projects would go to ICO. Today we see too many projects doing an ICO although they have nothing to do with the blockchain technology in the end (or they don’t need it).
Q: You’re clearly very passionate about the crypto space! Which projects are the most exciting to you?
TenX is the most exciting project to me, I’ve been following those guys for some time and I really like what they’re doing.
Q: What kind of blockchain projects would you like to see in the future?
I would like to see more revolutionary blockchain projects. At ChainTrade, our vision is to make food and raw materials trading accessible to anyone, anywhere, without barriers. I wish all projects would have a similar long term vision!
Q: What current proof of concepts has ChainTrade completed? What projects are in the pipeline?
We already have a working prototype of the platform, allowing to see the list of contracts, make an order, see the order book,… Next steps are to make it a scalable product, obtain a trading license from Singapore, and launch sales & marketing to attract buyers and sellers to the platform.
Q: Have you talked with any exchanges about their interested in enabling trading of your ChainTrade tokens?
Yes, we hope to list the CTC token on at least 2 exchanges by the end of November.
ICO name: ChainTrade
ICO starts on: 9th October 2017
ICO ends on: 31st October 2017
Total # of coins: 225 million
Official Website: https://chaintrade.net
ICO Website: https://chaintrade.net
Official Facebook: https://www.facebook.com/ChainTrade
Official Twitter: https://twitter.com/ChainTrade
Official Telegram: https://t.me/ChainTrade
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