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blue whale ico

These province may also choose to issue their own token to raise funds through ICOs — of which, 10% will be kept as a reserve with Blue Whale. If not, they must purchase 10% of their valuation worth of BWX tokens at the prevailing exchange rate. Given the extent of questionable ICOs that have been raising funds lately, it is great to see a project with such highly esteemed developers and leaders. It makes an investment case more compelling when you have such dedicated team members. Blue Whale is no doubt one of the most interesting cryptocurrency projects. Decentralisation is one of the only ways that power can be given back to the freelancers.

  • On top of this, the reward bank will always retain 60% of the referral rewards mentioned above.
  • Token sales listed from persons that ICOholder has no relationship with are shown only to help customers keep track of the activity taking place within the overall token sector.
  • Will Lee, the CEO, has a Stanford degree in Artificial Intelligence and is also the CEO of Verlocal.
  • The COO Hawon Chung and the Product Manager Jay Choi both work for Oracle.Changsup Keum, the CIO is also the founder of bigpicturelabs, a company that designs the architecture of blockchain services.
  • These will distributed in proportion to how much a freelancer has contributed to the ecosystem.

Our young and dynamic team is comprised of well-known journalists as well as Cryptocurrency & Blockchain Experts. Posting the latest news, reviews and analysis to hit the blockchain. For example, one of those applications is the booking software widget and the booking ad widget. In this comprehensive Blue Whale review we will take a look at the project and its technology. We will also bring you the exclusive interview that we conducted with Sophie Hall, the head of Global Operations.

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The foundation will be raising funds and building on top of the ICON blockchain. A decentralized ecosystem for the self employed that allows all participants to engage in a sharing economy and receive fair rewards. Rather than building something completely new, the project is taking an existing business called Verlocal Pro, and pivoting it to blockchain.

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White labelling is a process that is used with many centralized business models where a larger organization provides the technology to a smaller business for a fee. In this case, those smaller businesses are the decentralized provinces. This will be done by installing a range of tools and SaaS applications on other networks and social media accounts. These will operate as a “node” of the Blue Whale network which will do the job of collecting the data.

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The CAM was designed to make sure that these rewards were evenly spread throughout the broader Blue Whale ecosystem. It is well known that those workers who sell their services in the Gig economy are viewed as nothing more than a commodity and can be driven down in price to the lowest cent. The service providers such a Fiverr, Uber and TaskRabbit byteball gbyte charge exorbitant commission rates. The token is the defacto currency of the platform, used to pay for gigs, benefits, and verification – which is where the work done by a freelancer is “verified” by a third party. ICO Listing Online is an independent ICO rating and listing platform and a blockchain community with increasing users daily.

The token sale or exchange event is entirely unrelated to ICOholder and ICOholder has no involvement in it (including any technical support or promotion). Token sales listed from persons that ICOholder has no relationship with are shown only to help customers keep track of the activity taking place within the overall token sector. This information is not intended to amount to advice on which you should rely.

Blue Whale Interviews

We love the idea of being able to pull out an application and order a driver at the tap of a button. We love the idea of being able to hire a freelancer on the other side of the world for virtually nothing. In order to power the Blue Whale ecosystem, a native token called the Blue Whale Exchange (BWX) will be used. This is currently being sold to investors through an ICO that is about to open its doors to the Pre-sale stage. This is a relatively high hard cap which makes it harder for the project to achieve stellar returns. There is a three year vesting period for the team, with each year subdivided into smaller periods where funds are released.

blue whale ico

There are also a raft of high powered advisors in a number of different industries. Not only will their knowledge help Blue Whale scale but their current businesses could benefit from the Blue Whale ecosystem. They could, for instance, integrate their business operations as provinces. For example, there could be an initiative to change the savings rate that is going into the reward bank. In this case, a voting agenda will be agreed when 200,000 users on the platform support the addition of the voting item.

What is Blue Whale

Below is an example of the white-labelling of dApps to the provinces. This has profound implications for the small businesses as it will allow them to quickly create their own sub network with the technology and benefit from the broader network. This is the central repository that will hold the BWX tokens that are due as rewards to the participants on the platform. This ReBa will initially be funded with 20% of the proceeds from the public sale of the ICO. Bluewhale Foundation is an interesting cryptocurrency project in that it is the first one of its kind.

blue whale ico

Taking on some of the biggest names in the industry such as Uber, Fiverr and AirBnB, Blue Whale wants to knock down the centralised barriers that have built. Only when the Gig economy is truly based on decentralised technology can the participants benefit. ICO Drops is an independent ICO (Token Sale) database and is not affiliated with any ICO project or company. Our Interest Level does not constitute financial or investment advice. The most comprehensive ICO-Rating which is regularly updated with new projects and up-to-date information. There are some risks with this project as it is going up against stiff existing competition, and their marketing needs some improvement.

Furthermore, making use of advanced cryptography, the network is kept safe from external bad actors. The difficulties faced by freelancers and part-time workers are increasing. For example, the absence of social protection and job security, or the endless uncertainty that accompanies this way of working. When it comes to the general vote, voting power will be proportional to the amount of BWX that is controlled by said province. This is not too dissimilar from the masternode voting mechanism that forms the basis of the DASH ecosystem. In order to ensure trust on the Blue Whale network, Blockchain technology is used.

They would not support a project without potential, which is a good sign. It consists of very different profiles such as engineers, experienced entrepreneurs or freelancers who have worked for companies such as NASA, Samsung, Oracle, Sun Microsystems and the Olympic Games. We urge you to do your own research but, based on our analysis, this project does seem like it could be a prized possession in a well-diversified crypto portfolio. Given this federal structure of the ecosystem, there has to be some voting mechanism that will handle matters that affect the entire network. In order to collect the referral data and most appropriately analyze it, the Blue Whale foundation will make use of big data and machine learning. They will also take the user data privacy very seriously and will release their data protection policies in due course (more on this below).

Each province can use a white-label DApps (provided directly by Blue Whale) feature their own CAMs, DANs, and an access to ReBa, which are powered by the Blue Whale blockchain. This permits those provinces to offer the same contribution-based reward and employment benefits to the freelancers on their own sub networks. This is all done while keeping a degree of autonomy over their own province and the freelancers within it.

blue whale ico

That’s why Blue whale as labelled his architecture as a “Federal Architecture”. The provinces are free to operate according to particular parameters outlined by the federal blockchain. The peer-to-peer booking platforms such as Airbnb and Uber represent a large part of this growth. As a result, millions of people (the self-employed) around the world depend on these and similar platforms. Blue Whale has labelled this architecture as a “Federal” system which is a good comparison to make.