Until now, ICOs have been conducted with the aim of obtaining money from investors, who in number is less than 0.1% of the world’s population and these investors will not spend crypto tokens buying food in the store. Almost 99% of consumer market payments are made by those who do not have the opportunity to make risky investments in crypto assets. That is why ICO as a form of cryptocurrency distribution does not allow the cryptocurrency to penetrate the consumer and savings markets.
http://standarta.io/ will allow FREE mining of 11,000 tokens for each member of Free Mining Community who has successfully passed the mandatory KYC procedure! But how can a free cryptocurrency acquire value?
The circulation of fiat currencies, in reality, is driven by only two reasons:
The public consent on the use of a particular currency as a means of payment. This is a reason for dollarization in weak economies.
The enforcement of law requires to accept payments only in local currency. This is a reason why citizens in weak economies switch from US dollar or Euro to a local currency.
That’s why before mining 11,000 tokens for free, each community member has to accept the terms of the “Community Agreement”, which requires the member to:
1. Agree with the “pre-market’ evaluation of 1 token = 1 US dollar
2. Agree that the other members of the community have the right to impose sanctions against the “pre-market” evaluation offender.
Christine Lagarde, the IMF Managing Director, noted in one of her speeches that there is a turning point in dollarization. For example, in Seychelles, after reaching the level of 20%, the dollarization jumped to 60% from 2006 to 2008. STANDARTA.IO sets itself the goal of reaching such a turning point, triggering the rapid adoption of cryptocurrency payments on the consumer market in key jurisdictions.
However, even if the STANDARTA.IO tokens are donated to only 0.1% of the world’s population, the “pre-market” cap of STANDARTA.IO tokens may exceed the total market capitalization of Bitcoin and Ether, which will allow STANDARTA.IO tokens to bring the market closer to the widespread use of crypto-currency payments
Tokens will be mined FREE of charge for pre-registered Free Mining Community members who know each other through a “hand-shake”: In the beginning, the team members issue invitations only to those they know personally and each invited after accepting the invitation can, in turn, invite his/her friends to participate in the Free Mining Community and so on. No cold calls, no advertisement, no spam. The referral way of joining to the community of free cryptocurrency miners means that although mining is available for an indefinite number of people, all these people are “hand-shake” friends rather than a “general public” in the meaning used for IPO or ICO offerings.
The sponsor and investor of the STANDARTA project is Dotpay SA - a Swiss company limited by shares, registered in the canton of Nidwalden under the number CH-150.3.003.817-5. Dotpay SA is also one of the miners in the STANDARTA Community.
How does Standarta.io work?
Standarta.io talks about the common problems of our current economy and the disadvantages of the present financial system. They have gone in detail about the difference of purchasing power and how it is decreasing day by day because of the concentration of wealth in the hands of a few.
Also along with their narration, there are also a few statistics provided by them which goes over the details of CPI AKA Consumer Price Index, and the radical change in the economy. According to them their coin can solve all the above-stated problems and keep the uneven distribution of money in check.
The idea behind the currency is interesting but nevertheless unrealistic and astronomical to execute. Every method has a flaw and we do not see convincing enough reasons as to why this coin solves the problem.
An idea without proper implementation is just a hypothesis and certainly not the one you want to drool about after spending your time and energy. The sole reason to justify spending time on their platform from our perspective is that it is free as of now.
1 mln. members
FTM ends. Mining event.
Payments go live.
GCC goes to the secondary market.
Plastic cards release.