Re: [ANN] - [ICO] NurveRhino - A Token ICO that Invests in Itself
At any time, there are possibly 3 Business Projects running.
As you correctly assume, there is the very real possibility that a Business Project may fail
This is why the NurveRhino Platform does not choose which Business Projects to list, but will fund based on what the community chooses
* People can list a Business Idea
* Everyone gets to vote on the Business Idea, based on forum discussions with other members
* Each Business Idea when voted on as a Top 3 contender, then goes through a second stage, where the Platform generates 12 names from the member base, to act as Chairpersons and they further discuss the project
* If the final verdict from the 12 Chairpersons is to approve the project, then it is funded by the Platform and also opens up to the member base for additional funding.
* If the Business fails, it is recognized as doing so quickly and immediately terminated.
* NurveRhino suffers any loss from its funding and so do any members who also submitted additional funding.
The effect on Exchanges should be very minimal, if any, since nothing will be traded, except recouping any losses, which will of course be Exchanged at the optimal rate, albeit a smaller amount that would have been expected and incidentally may have a positive valuation on the Token
In short, the loss will be accounted to your own funding pool as well as another pool that's built from people who are willing to invest more on the said project?
I'd like to know more about the mechanism of this project themselves. So, many people submit their ideas for projects, which will be voted by community best 3 ideas that has the best possibility, then your system will randomly generate 12 names that's earlier volunteering to help the projects to be the chairmen of this project.... And what factors would determine those chairmen are suitable for the project? They are chosen randomly, so there's a significant possibility that a medical student that's happen to have interest on your token (and thus, volunteering) and has never meet any woodsaw or sandpaper at all in his whole life is chosen to be a chairman of a woodcrafting project. Or, a qualified expert stockbroker who recently burn his house because he tried to microwave his leftover pizza, is chosen to be a chairman for healthy culinary project. I really like to hear his advises regarding foods.
Essentially the Answer is Yes...
12 people in a court of law can decide a person fate with little knowledge of legal procedures
I think the days of pidgeon holing are slowly evaporting and acquired knowledge is becoming more important.
I am not a racing car driver, but I have been driving a car for many years.
My wife is not a chef, buy she can cook better meals that whats served at high priced restaurants
I find devs that are self taught, more able to solve problems than trained ones.
Soccer players becoming chefs... and good ones at that
I think some techies ended up building cars and also launching Rockets into space...
A lot of content is discussed in a forum prior to the 3 Business ideas being finalized...
It doesnt take 11 people to know that 1 person might be out of their depth and there are contingencies for that, so that person can be replaced.
And it just might be the woodworker who comes up with great ideas to an industry he/she knows little about and can be instrumental in making the business prosper
We decided on the Randomness of the Chairs, to avoid as much manipulation as possible.