Quote from: pinoycash on April 10, 2019, 07:38:23 PM

Quote from: Mirkic7 on April 09, 2019, 02:58:43 PM

Quote from: pinoycash on April 09, 2019, 01:30:20 PM

Now ICO scammers will have a new options for turnkey ICO project that they can launch everyday Cheesy

Do you filter out the clients you will accept or you will accept anyone for as long as they can pay?

The main goal of the project - create ecosystem where is your reputation will be more expensive then profits that user will receive from frauds. If you will loose your reputation, there is no chance in future to create new account with "clear" reputatuion again. So first of all - to create your ICO, you need to register and complete special KYC and AML procedure. All this information, received after KYC procedure will be hashed and hash will be saved, so there is no chance that you will complete KYC twice using same information. After that, founder will got to complete special agreement with Illuminates platform, and define project soft cap (if project wouldn't reach soft cap, all invested funds will be returned to backers). Project owners will receive special instruments to creating financial and technical reports about project stance and this reports in future will be obligated. Besides that we will control projects spendings, after fudnraising, and if we will find some suspicious activity, like for example creating order on our freelance exchange for development (will be included in next releases) and picking specific developer who takes 100k for 1 hour of work, gathere fund would be blocked on the smart contract.
Another level of security - judges system. There will be special cotegory of users - judges. To became one of them user first of all will need to proof his/her expertise on illuminates freelance exchange. Judges will have a chances to rate the project risking their reputation, but receiving benefits for doing this.
Additional there is will be special tournaments, you can read about that in current version of whitepaper.
We tried consider all possible problems and make our platform as transparent as possible. We are also look forward to receive feedback from our community, what's will allow us to update, expand and make our platform even safer.

Looks like a centralized system, Controlling project spending after fundraising? Cheesy

So basically you control all ICO Projects that is launch using your platform?

Basically the spendings will be under Smartcontract control only before the official company registration and approval from regulator for crypto-fiat transactions. The rule will be when on Seed stage project SoftCap reached - first obligatory requirement will be official registration of company in selected jurisdiction. Such services will be provided on platform by validated lawyers. Founder should to choose this service provider before the crowdfunding launch. The legal company wallet will be added on the stage of the smart contract creation and the moment when soft cap will be reached needed amount for legal entity registration for (ICO) and license/regulator approval (for STO) will be automatically send to the Layers. After they will sign the confirmed status of approbation from regulator - founder will receive access to the money from investments.
Founder could choose the law companies from registered on a platform, or even brings his own law company to the platform and after validation use their services.