[ANN] San ICO

[SanCoin]

Technology

SAN aims to build a universal “Contribution Graph”: a verified, distributed & immutable register of projects & who contributed to them. Such a system can answer the following question: Who contributed what, where? e.g. “Linus Torvalds created the Linux Kernel” or “Brian Chesky co-founded AirBnB in 2008”. Such a register can be of tremendous value to the creative professions in the Open Source and Startup communities.

Such a graph can be used to assess a project contributor’s reputation, assign a fair equity split in early projects or even automatically compensate team members for the work they have done. There are 3 main components required to build such a graph: People, Roles & Projects. Roles (e.g. “CTO”, “Designer”, “Developer”) form the edges linking together People & Project nodes in a graph. Project & Role descriptions are reached by voted consensus among the People participating in a project.

Blockchain technology offers a couple of interesting properties appropriate for a project like SAN. The following are the core characteristics SAN requires to work: IMMUTABILITY, TRANSPARENCY and DECENTRALISATION.

IMMUTABILITY is achieved by storing Roles as contracts or transactions in the blockchain. TRANSPARENCY is achieved through a voting process to define project descriptions and roles: all project members need to agree for changes to be made. The blockchain transaction history serves as a transparent representation of how a consensus was reached. DECENTRALISATION of identity verification is desirable long-term and can be achieved through collaboration with projects like Civic.


Pre-Sale & ICO

PRE-SALE: An invitation-only pre-sale event for large ticket investors will be held in the second week of July 2017. This will happen in an online chat channel with both WhatsApp (West) & WeChat (China) options available.

The timing an conditions of the pre-sale event will be announced by email so make sure you signup now!

If you want to participate in the pre-sale event you will be asked to transfer a non-refundable amount of BTC of your choice.

The order of pre-sale invitations and the discount will be based on the amount of BTC sent in the initial pre-sale transaction.

Once you have been accepted as a pre-sale investor you will receive email instructions for how to get in.

ICO: The Public ICO will start in July 2017. The ICO goal is to raise 1M USD, equivalent to a small startup seed-round. The ticker symbol will be SAN and the SanCoin (S8N) token will be a standard ECR20 token.

The token is a utility token that people will use in the network to pay for initial identity verification and vote on project and role descriptions.

The token will be tradable immediately after the ICO ends and usable in the SAN network in Q4 2017.