AMA Blocksale.io (8th September 2017)

I got in contact with Darren Franceschini in LinkedIn, after a friend of me informed me about the ICO of Blocksale.io where he acts as CEO. We exchanged some messages and the project seems to be interesting enough to make an AMA session in the Altcoin Switzerland Telegram chat group.

Important to say: This is neither an endorsement for this ICO nor investment advice. We are neutral here.

Marc Bettinger, [08.09.17 21:32]

Gentlemen lets start!

Cryptopher Columbus, [08.09.17 21:32]

Excellent

Cryptopher Columbus, [08.09.17 21:34]

So my name is Darren Franceschini I'm the CEO of blocksale. I run a team of consultants here in Canada for various levels of crypto and have a very vast network in the community.

Cryptopher Columbus, [08.09.17 21:35]

In my network I have seen a gap within this space which is investors wanting to invest but have no experience to know which projects are legitimate and have many ico founders who have amazing projects but have no capacity to seek funding.

Marc Bettinger, [08.09.17 21:36]

Thanks Darren, much appreciated

Marc Bettinger, [08.09.17 21:36]

Can I start

Cryptopher Columbus, [08.09.17 21:36]

Absolutely

Marc Bettinger, [08.09.17 21:36]

So first question from my side, you use a lot of Logos at your webside, from succesful projects.

Cryptopher Columbus, [08.09.17 21:36]

Yes

Marc Bettinger, [08.09.17 21:36]

Is it true that you have consulted all of this projects, is there any proof for it?

Cryptopher Columbus, [08.09.17 21:37]

They not all were a consulting capacity a few we mainly assisted in the community management

Cryptopher Columbus, [08.09.17 21:37]

But yes

Marc Bettinger, [08.09.17 21:37]

So Status for example?

Cryptopher Columbus, [08.09.17 21:38]

Yes one of our members was one of their key community managers

Marc Bettinger, [08.09.17 21:39]

How was his name?

Cryptopher Columbus, [08.09.17 21:39]

Rory

Cryptopher Columbus, [08.09.17 21:39]

I will have to ask him his pseudonym he used for the management though

Marc Bettinger, [08.09.17 21:40]

I know this problem

Marc Bettinger, [08.09.17 21:40]

So no worries regarding him.

Marc Bettinger, [08.09.17 21:40]

In 3 sentences, how would you describe your project blocksale.io ?

Cryptopher Columbus, [08.09.17 21:42]

Blocksale will bridge the gap between investors and ico founders. Using our vast experience in the industry we will review code and business case and ensure legitimacy before presenting to our portal members. Our mission is to provide a level of security for investors and a method of funding for legitimate ico projects.

Marc Bettinger, [08.09.17 21:43]

Would you need to be accredit investor to use this service?

Cryptopher Columbus, [08.09.17 21:45]

Absolutely because we are operating out of Canada we are only accepting accredited investors. We also believe this will limit the volatility of these issues when they go to market.

Marc Bettinger, [08.09.17 21:45]

Is this service comparable with Angellist for example?

Cryptopher Columbus, [08.09.17 21:46]

Essentially a similar concept.

Marc Bettinger, [08.09.17 21:46]

Good, because than I get the point.

Cryptopher Columbus, [08.09.17 21:47]

Excellent

Marc Bettinger, [08.09.17 21:47]

The Token of Blocksale will be ERC20?

Cryptopher Columbus, [08.09.17 21:47]

Yes as we also plan to utilize dapps

Marc Bettinger, [08.09.17 21:48]

Dapps is interesting. Regaring the token: Will they be needed to participate in project that are offered? Is there any dividend? In short: What is the insentive for us investors to buy this token?

Cryptopher Columbus, [08.09.17 21:50]

The token is the only method of investing within the portal. It acts as a smart contract between the founder and investor acting as a digital letter of intent. There is a voting implementation and the ability to trade shares with other portal members internally as well.

Cryptopher Columbus, [08.09.17 21:51]

As more implementations are integrated the use cases will expand as well.

Marc Bettinger, [08.09.17 21:52]

So just to get it

Marc Bettinger, [08.09.17 21:53]

I want to get a project financed by Blocksale. So I will have talks with you, deliver all information. After the due dilligence my project ist open for investors. They can invest in my project and send me their tokens. correct?

Cryptopher Columbus, [08.09.17 21:54]

Absolutely. Then say an investor misses the opportunity to invest members internally can trade shares they have purchased.

Marc Bettinger, [08.09.17 21:54]

So If I offer the "Marc project" and someone invests he receives "Marc shares" in the platform?

Cryptopher Columbus, [08.09.17 21:55]

Yes in a decentralized escrow service

Marc Bettinger, [08.09.17 21:56]

And me as project guy, how to receive the money for my offered "Marc project shares"? From the platform in exchange for the token I collected?

Cryptopher Columbus, [08.09.17 21:57]

As we are establishing our own ecosystem we provide the "project guy" the capacity exchange his bok for the desired payment method and we then recycle those tokens back to our members at a discounted rate against the current market rate.

Marc Bettinger, [08.09.17 21:58]

Sounds thought trough

Marc Bettinger, [08.09.17 21:59]

For me critical is the following: You really need to get some millions otherwise you don't have enough fire power to attract potential investors. You need to get a kind of standing like Angel-List

Cryptopher Columbus, [08.09.17 22:00]

Absolutely we want every accredited investor to participate through our platform and with the level or security we are providing through our vetting system we hope to encourage traditional investors to participate as we feel this is a smoother transition into this industry.

Marc Bettinger, [08.09.17 22:01]

Thank you. To be honest at the moment you have done a very good job answering my questions

Marc Bettinger, [08.09.17 22:01]

Any other guy from Altoin Switzerland? Its not a one-man-show 😁

Cryptopher Columbus, [08.09.17 22:03]

Thank you my main goal with this project is to further the success of the cryptocurrency/blockchain development as it's my passion. Seeing where we have come since I joined in 2010 is amazing and I want to provide a safe portal and limit risk. I mean even with the current Iota vulnerability it shows the industry needs a third party to audit their code before they release.

Vraken, [08.09.17 22:04]

Hey Marc how's it going

Vraken, [08.09.17 22:04]

This is Viven. Got your invite from LinkedIn in

Vraken, [08.09.17 22:05]

If you guys have any further questions let me know as well. Just started going over the ama

Marc Bettinger, [08.09.17 22:05]

Thanks Viven. Viven is the CTO of this project

Marc Bettinger, [08.09.17 22:05]

Thanks for beeing here

Daniel Caspar, [08.09.17 22:05]

[In reply to Marc Bettinger]

sorry. I'm a silent listener. my bad English. you know marc .. ;-). but really very exciting! Thank you!

Marc Bettinger, [08.09.17 22:05]

Thanks Daniel. Alles gut.

Vraken, [08.09.17 22:06]

Yes. Feel free to ask if anyone from the group has any technical questions too

Marc Bettinger, [08.09.17 22:06]

One question regarding the ICO conditions from me: The big difference in the Tier issues have forced some concerns. For example Tier 1 for 0.1

Marc Bettinger, [08.09.17 22:06]

Tier 2 for 0.2

Marc Bettinger, [08.09.17 22:06]

And so on. This are quite huge differences.

Marc Bettinger, [08.09.17 22:07]

What is the reason for this?

Cryptopher Columbus, [08.09.17 22:07]

I can explain those

Cryptopher Columbus, [08.09.17 22:07]

I come from the startup realm where I have assisted many startups receive real world funding.

Cryptopher Columbus, [08.09.17 22:07]

I find the current ico structure to be flawed

Cryptopher Columbus, [08.09.17 22:08]

Presale capital investors deserve the biggest return as they are assisting in the creation of this funding concept into a reality.

Cryptopher Columbus, [08.09.17 22:09]

This structure that I have created here in traditional means in real world funding models

Cryptopher Columbus, [08.09.17 22:10]

And ensuring the status of accredited investors removes a certain level of volatility as they are seasoned and understand the value of holding assets allowing for organic market growth.

Cryptopher Columbus, [08.09.17 22:10]

The major issue with icos hitting the market today is due to low net worth investors owning shares at a low buy in where they see the ability for an immediate return with no loyalty to the project and it's goals.

Daniel Caspar, [08.09.17 22:10]

is not the risk that from tier 4 no one invested?

Cryptopher Columbus, [08.09.17 22:12]

Daniel we have established that wherever we see the investments stop coming in then the remaining coins are burned to decrease supply ensuring the market cap and value remains. However doing our research with only 70 million coins in existence on the open market at a 2 dollar per coin valuation only puts our token at a 140 million market cap

Lukas, [08.09.17 22:13]

Describe accredited investor please

Lukas, [08.09.17 22:13]

What are the requirements

Marc Bettinger, [08.09.17 22:13]

Minimal 1m USD or 200´000 net income?

Cryptopher Columbus, [08.09.17 22:14]

Yes

Daniel Caspar, [08.09.17 22:14]

or 300 married couples

Marc Bettinger, [08.09.17 22:14]

No problem for us old Altcoin Guys of course 😉

Cryptopher Columbus, [08.09.17 22:14]

Exactly

Cryptopher Columbus, [08.09.17 22:14]

:)

Marc Bettinger, [08.09.17 22:15]

Is Tier 1 still open? How much is left?

Lukas, [08.09.17 22:15]

What about new altcoin guys?

Cryptopher Columbus, [08.09.17 22:15]

40% is spoken for

Marc Bettinger, [08.09.17 22:15]

Ok

Cryptopher Columbus, [08.09.17 22:15]

In tier one

Marc Bettinger, [08.09.17 22:15]

Do you have some marketing planned for the official start?

Daniel Caspar, [08.09.17 22:16]

is the accreditation only for your ico? or for the future analyzed projects?

Cryptopher Columbus, [08.09.17 22:16]

Absolutely that is the reason the site is down we plan on sending our press release out tomorrow and needed to upgrade our server to ensure proper load times.

Cryptopher Columbus, [08.09.17 22:17]

Lukas your net worth to be classified as an accredited investor can be fiat + crypto assest

Cryptopher Columbus, [08.09.17 22:17]

Assets

Cryptopher Columbus, [08.09.17 22:17]

And Daniel absolutely we are moving towards setting a standard

Daniel Caspar, [08.09.17 22:18]

Okay

Daniel Caspar, [08.09.17 22:18]

how long does the confirmation mail take from the time of registration?

Marc Bettinger, [08.09.17 22:18]

Ouf of the QandA I have somebody for you: My good friend Marc de Mesel is an Altcoin and Angellist Enthusiast and he loves ICOs

Cryptopher Columbus, [08.09.17 22:18]

Our final development for our ecosystem is also to develop an exchange to which we are in talks with major exchanges in various countries to acquire partnerships on our proof of concept

Marc Bettinger, [08.09.17 22:18]

I will give you his contact details

Cryptopher Columbus, [08.09.17 22:19]

Excellent

Marc Bettinger, [08.09.17 22:19]

Im sure he will go in Tier 1

Cryptopher Columbus, [08.09.17 22:19]

Once you send payment and it is confirmed we send receipt immediately through our system

Cryptopher Columbus, [08.09.17 22:19]

Excellent

Marc Bettinger, [08.09.17 22:20]

When do you think the ERC20 token will be provided to investors?

Cryptopher Columbus, [08.09.17 22:21]

That is still being discussed internally as our cto is still in the process of adding major functionalities and ensuring there are no vulnerabilities.

Daniel Caspar, [08.09.17 22:22]

[In reply to Cryptopher Columbus]

I mean; when will the instructions come. for the pre sale.

Marc Bettinger, [08.09.17 22:22]

Yes, good projects needs time.

Marc Bettinger, [08.09.17 22:22]

Exactly the landing page will be online tomorrow again?

Cryptopher Columbus, [08.09.17 22:22]

Daniel once the site is back up you can sign up and receive instructions

Cryptopher Columbus, [08.09.17 22:23]

I would say 5 hours from now hoping they get to the ticket

Cryptopher Columbus, [08.09.17 22:23]

Which is all that is holding it up.

Daniel Caspar, [08.09.17 22:23]

What is planned? how many projects per year?

Cryptopher Columbus, [08.09.17 22:24]

Our plans as of now. Presale portal, ai technology and full exchange within the next 8 months

Cryptopher Columbus, [08.09.17 22:25]

Once that is complete we will be looking at next steps and will use our member voting system to build new projects based on member suggestions

Daniel Caspar, [08.09.17 22:26]

OK. sounds exciting.

Marc Bettinger, [08.09.17 22:27]

For me the QA was very fine. I want to thank you

Daniel Caspar, [08.09.17 22:27]

Me too. Thx!

Lukas, [08.09.17 22:27]

Thank you very much

Cryptopher Columbus, [08.09.17 22:28]

You are welcome if there are any other questions please feel free to ask anytime

Daniel Caspar, [08.09.17 22:28]

with pleasure

Cryptopher Columbus, [08.09.17 22:28]

My personal cell number is 1-416-995-8017. You can add me on what's app or on Linked in as well.

Lars, [08.09.17 22:28]

Thanks all