The Tamadcoin Value Proposition
It was 6th of December 2017 just came home to Manila from a business trip in San Francisco, debriefing myself of what we learned from the recently concluded Blockchain Expo 2017 at Santa Clara, California. Most of what the market or the market movers and shakers are driving us to is how to take advantage of the opportunities of Initial Coin Offerings, much of what was in the event was just another way of raising capital for startup without going through the hassle of traditional, Silicon Valley-style venture capitalism. And a lot of these ICOs were plain “faucets”.
Problems and Challenges
We came to the realization that Initial Coin Offerings are basically flawed as it is exposed further to regulatory risks from several governments and this is fuelled further by the bashings coming from the institutions within the traditional capital markets whose business is at risk of extinction. So we decided we can not do Initial Coin Offerings to get funding for our projects and other’s businesses because we don’t want to spend unnecessary time, money and effort to deal with regulators and people with “little imagination”, we can not use someone’s blockchain or cryptocurrency to carry out our objective which is to deliver true value, we have to redirect capital flow where it is badly needed. Not only to the few but for those who really need it. We know the fact that poverty is man-made, the Good Earth will and can always provide for everyone and I believe everyone deserves a basic income no matter what they are in our society. Next thing, bitcoin is slow, ethereum’s concept of grid computing is preposterous there are already better frameworks since 2005 for that purpose and it does not require blockchain, we don’t want to do mining if we can build and create our own mining sites/nodes, in short, we don’t want anything to do with these shenanigans or what the media wants us to be excited for, we really want to deliver true value and focus on the more important matters such as generating real growth and revenue for the grassroots entrepreneurs.
The Market
Tamadcoin was created not from an inspiration or motivation, we are aware that value of the cryptocurrency market as of this writing is $298,592,002,798 but that is in the context of trading the cryptocurrency in the crypto exchanges, we haven’t tackled the market for its other purpose yet such as private token sales which is basically a more streamlined version of an initial coin offering. In addition to that, there are also peer-to-peer payments, peer-to-peer banking and other decentralized financial transactions which is supposed to be what cryptocurrency or cryptoassets or blockchain is all about. We did a sample of what the potential market like in Metro Manila (Philippines) for private token sale, we target those who are involved in startups and venture capital which is around 24,000 people. An early stage startup can get funded at an average of US$280,000 and only 3% or less of that 24,000 can get funding, in other words the potential market for private token sale regardless of the startup size is worth about US$201,600,000 (280,000 multiply by 720) and we’re only talking about Metro Manila, in terms of private token sale, we haven’t gone through the other capability of Tamadcoin as a cashless payment facility in which it is ready to serve any market.
The private token sale has key advantages from initial coin offering, first, it is regulated almost the same way as private equity except no equity is offered but tokens which means private token sale is barely regulated and tokens or digital tokens as per US regulators’ jurisprudence are commodities and investors are actually participants or buyers. Second, by nature, it is private and is basically offered through private channels (chats, messages , emails etc.)
This allows startups to have better options getting funded other than traditional venture capital, in fact, it is not just startups who will benefit from private token sale, a lot of small/medium enterprises can benefit from it too.
The Cashless Payment and Fund Transfer
One of Tamadcoin’s capability is to facilitate cashless payments for any entities with no setup fees, no special device required. The prohibitive cost of utilizing a point-of-sale system that is centralized and has a single-point of failure just like the traditional SWIFT for banking has limited the growth opportunities of small businesses particularly those technology-averse “lemonade-stand” businesses. Tamadcoin has made it very simple by just creating a Tamadcoin wallet for accepting payments from customers who has Tamadcoins to buy with. We haven’t completed the market valuation for this aspect of Tamadcoin but anyone can figure out the potential if a street food hawker can accept cashless transactions from Tamadcoin. Remittances can also be handled seamlessly, Tamadcoin is not affected by bank holidays, the insecurity of ethereum, the slowness of bitcoin settlements. Again, all by creating a Tamadcoin wallet and topping it up.
The Solution
Tamadcoin was created and developed from the challenges and problems that were obvious to us during our discovery phase. That we need our own blockchain technology in order to deliver the solutions to the problems that we ourselves are experiencing. Tamadcoin is based on CryptoNight algorithm which is the same algorithm used by Monero (XMR) and Bytecoin (BCN). Again, why do we need to create our own? So that we can allocate the tokens with ease for businesses who wants to do private token sale without the need of initial coin offering which is not the main focus of their business. So that we can allocate tokens to other franchises quickly who wish to use TMC as payment. Tamadcoin is a fully-functional, ready-to-use blockchain technology. It can readily replace SWIFT should a sovereign country decides to let go of it, it can replace proprietary banking networks that has single-point of failure.
