AltCoin Review: RootProject

RootProject: First Tax-Subsidized Cryptocurrency


Introduction

RootProject is a nonprofit initiative which innovates a model for cryptocurrency which may provide crypto asset appreciation and investor participant interest alignment with time. The aim of this company is to create the world's very first tax subsidized cryptocurrency. This new currency will provide an opportunity for laborless crowdfunding, where project initiators don't need to know anything about cryptocurrencies, and a pension fund with the means of its interest alignment and personal cryptocurrency

Roadmap

RootProject has achieved numerous milestones in the previous months due to its highly innovative and diverse platforms providing labor less crowdfunding, a new cryptocurrency and pension funds along with interest alignments. These factors have led to RootProject raise $400,000 in its pre-ICO stage and launch the alpha version of its crowdfunding site and pilot projects. Moreover, the company has numerous and extensive projects aligned till 2019. In the last quarter of 2017, RootProject intends to launch its pilot city expansion. Furthermore, the company aims to complete its fully functional crowdfunding app by February of 2018. The worker's app of its platform will be completed in the next month of the launch.Starting from March of 2018 RootProject will initiate its Post-Pilot city expansion, covering 15+ cities till July 2018. Continuing this process, it aims to expand its services and platform to the entire nation by the second quarter of 2019. After covering the United States , RootProject will start its non-US expansion in Q1 of 2020 and its non-US national pilot cities by the third quarter of 2019

Token Information

To support its platform and pilot projects RootProject has created its own cryptocurrency called ROOTs. This token is of the ERC 20 type, supported by the Ethereum smart contract and created on its blockchain. During its ICO period, a total of ten billion ROOTs shall be created, the company states that no more ROOTs shall be printed after that. The ICO period of RootProject has already been initiated on the 5 of September 2017 and will last a total of 21 days during which 2 billion ROOTs shall be put to sale. The company has created a very low exchange rate due to the high volume of tokens put to sale, where 1 ROOTs = 0.0199 USD. Through this rate, the company aims to receive total funds of  USD 38 Million at the end of this investment round. The company intends to release 40% percent of its tokens, in the beginning, six quarters after its ICO at the rate of 3.33 percent per quarter. In addition to the 20% of tokens released upon its investment round, RootProject has allocated to release an additional 34% of its tokens in the post-ICO schedule of 2019. The employees of the company will receive their 10% share in the same year as the post-ICO. A total portion of 15% of ROOTs is divided equally between unaffiliated developers incentives, research funds, and project initiators while a small portion of 0.4% has been allocated for bounty campaigns. The remaining 20% of ROOTs tokens have been reserved under contingency funds used in times of need.

Team

Usually, the team is not the main area of discussion but I believe that analyzing the team of RootProject gives it an additional credibility and reason to invest in this project. The core members of the RootProject team consist of Chris Place, who is a Y combinator fellow and has raised USD 5 million in sales in the past year. Furthermore, the CEO of this company is a Nicholas Adam Judge who is a political economist and holds a Ph.D. degree from the University of Wisconsin. An additional technical engineer of the company is Alex Bhazanau who has previously worked in IBM designing applications on Hyperledger. Furthermore, the company also has an international representation through its strategic partner director, Sonny Kwon, of Seoul who has founded EconTimes, FX intelligence company and has been the head of business development at IBTimes.


Conclusion
Through the development of its platform, post-pilot projects along with its strong and diverse team have the company achieved great milestones in its pre-ICO period. An extensive business strategy along with the constant development in its technology highly increases the probability for the RootProject to dominate the crowdfunding sector in a short time, therefore I believe it to be a very viable investment. I hope to have supplied with all the information for the thorough analysis on this cryptocurrency, however, if in need of more information about RootProject and its token please visit the links below.

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Written By: AltCoins Reviews
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AltCoin Review: RootProject AltCoin Review: RootProject Reviewed by AltCoins Reviews on November 09, 2017 Rating: 5

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