Innovation is what makes our lives better. But one of the main problems of our time is that many entrepreneurs have various solutions to different problems. But the funding process is a big challenge for ICOs and funders. That creates a situation in which the funds are allocated ineffectively. This is what DropDeck wants to address.
DropDeck is an intelligent, decentralized, incentivized cross-border funding platform for startups and SMEs worldwide. The intention is to channel resources into innovation, represented in innovative companies around the world, and improve everyone’s quality of life.
“Everyone wants to fund promising companies. DropDeck wants to remove the barriers that keep average funders away from the greatest opportunities,” said the CEO Alon Vo, “There are a lot of existing platforms for you to do that, but we want to build your favorite one. DropDeck is designed to be the one-stop shop that changes the way you fund companies worldwide.”
How Does DropDeck Work?
DropDeck works on the Ethereum platform that offers smart contracts, a payment platform and the possibility to issue the Decentralized DropDeck token (DDD). With Artificial Intelligence (AI) and Blockchain technology, DropDeck wants to achieve three different outcomes:
- Score and Rank fundraising companies based on data of high quality and quantity. That would allow to have an objective rank about which projects are the most innovative and problem-solving. Different platforms rate and rank these companies, but under not clear set of rules and sometimes subjective.
- A funding process that is transparent, secure and fast.
- Participants in the funding ecosystem are incentivized to help funders get rewarded. In this way funders can keep funding and attracting more funders to join.
That improves the output integrity, creates a positive feedback loop for data generation and optimizes AI-Human collaboration.
DropDeck uses AI and Blockchain technology because it resolves existent inefficiencies and cross-border business funding. In addition to it, innovation and data collection enables the AI to produce more accurate scores. That has been recognized by the IBM Watson AI XPRIZE during a competition. DropDeck has support from world-class AI experts and complements it with blockchain features.
DropDeck incentivizes real life behaviour by smart contracts and tokens. The participants collaborate altogether ensuring that the companies are accurately scored.
Furthermore, there is an important global market that reaches $300 billion dollars and that backs the value of DropDeck. This is bigger than one ICO. DropDeck is a less costly and less distracting alternative to doing an ICO for most fundraising companies.
The DDD Token serves for different utilities. Investors can contribute or lend tokens to potential companies. Pay for score verification or premium features so as to achieve goals faster. And get rewarded as an Evaluator or Hunter.
DDD Tokens are used by funders to make funding and to reward participants who support the funding process. Since DDD’s value reflects the success of the funding activities on DropDeck, all the participants in the ecosystem are incentivize to do their best.
As more capital flows into DropDeck, the token value will increase exponentially. Almost half of the tokens will be burned, increasing the token value. Its liquidity will be assured by different exchanges with which the company is working.
The DDD Token allocation will be as follows:
- 25% will be for the Token Reserves
- 5% will be for Crowdsale Rewards
- 20% will be allocated with Founders, Advisors, Key Pool, Early Contributors
- 50% will be for the Crowdsale
The usage of the proceeds (BTC, ETH) will be distributed in this way:
- 55% will be allocated in Research and Development
- 20% will be used for Marketing and Business Development
- 10% will be used for Operational Expenses
- 10% will be used for Legal Expenses
- 5% will be allocated for the Buffer
DropDeck has already sold out the presales with no marketing and has raised 5,000 ETH. The crowdsale began on November the 21st and ends on December the 21st. The soft cap is set at 29,999 ETH and the hard cap is 99,999 ETH.
The team is conformed by different specialists in the technological and financial world. Important figures from different countries are developing DropDeck and many advisors are helping the team to develop an innovative product.
Anh (Alon) Vo is DropDeck’s CEO and founder, XPRIZE Vanguard and Epistemologist Product Manager. Michael Phan, Chief Hacker at John Gait Ventures, Data Analyst at Maritime Bank and Founder at AZDigi. The Chair of Advisor Board is George Popescu, who has been CEO and Cofounder at Lampix, Chairman of the Board Advisors at Gatecoin and has founded more than ten companies over then years in online lending, hedge funds and venture debt funds.
Among other team members we find Nizam Ismail, the Chief Legal Counsel, Tomoyasu Tsushima, Yao Yuan, James Haft, Anik Dang, Dennish Poh and Nagu Thogiti.
The ICO market is expected to grow in the coming years. 2017 managed an incredible amount of funds and has received a lot of support from investors of all kinds. DropDeck wants to make the funding process simpler and more efficient. The platform will allow to improve innovations all over the world and define which are the most innovative products in the market.