Introduction
During the last few weeks I’ve been approached by multiple guys involved in the cryptocurrency world asking to promote their Initial Coin Offerings in order to help them raise funds for their projects. Since my purpose is to open the eyes of people interested in blockchain, I don’t want to post influencing articles in exchange for material benefits. This is why instead of doing this kind of promotions, I prefer to address some clear and open questions that can clarify in few lines what any ICO actually plans – without reading a full whitepaper.
However, this proved to be not so trivial, since many of the guys looking for promotions stepped down when such a questionnaire was “thrown” at them.
But today it is about a guy who is different and replied to me incredibly fast with some useful and sharp answers. I’ve followed Bruce Bates on Linkedin for many weeks already and I appreciate his energy, vision and especially the force for pushing things forward. Being an entrepreneur today is tough and you need a lot of resiliency for those days when you would “kill to get your mojo back”. This guy has it. And he also has an interesting idea, which could change the world of marketing as we know it today.
Bellow you can find our Q & A session which will help you discover quickly Bruce’s project called TAC – The Advertising Currency.
TAC Token Q & A with Bruce Bates
How would you describe your project in two sentences?
The Advertising Currency is a community based utility currency with plans to decentralize the entire industry of both offline and online advertising and marketing through a series of tokens that are each geared towards specific areas within the industry.
What are the 3 most important features brought to the cryptocurrency market by your project?
- We are to be the first truly decentralized industry based utility currency.
- We will be merging of offline advertising spots with online blockchain sales
- We will over time be ending an era of corporate control over advertising and marketing.
What is going to be the maximum number of tokens? is it going to be fixed or it may change over time?
I need to stress despite the name “tac tokens” TAC – the advertising currency is NOT a token. It is in fact its own currency. Tokens tend to be associated with Ethereum and other platforms as such.
To answer your question – we will be pre-creating 100% of our currency. There will be 5,000,000 TAC created. We are selling 4,000,000 for $10 each to raise a total of $40,000,000 USD. The remaining 1,000,000 TAC will be used internally within the project and as payments to publishers displaying ads.
How can people purchase tokens? If I am an average guy with a card but no BTC or ETH, how can I purchase your tokens? Can I simply use my card and get your tokens?
On Dec. 1 our platform will go live to begin accepting funding for tokens. Each token with cost a value of $10 USD. There will be several means of purchasing TAC including fiat currency through Paypal. TAC will initially launch as a token on the waves platform until its own platform is ready – then we will move to our own platform and launch all the tokens for TAC.
Our platform will be an opensource platform that is distributed to the public at large. Any person that downloads it for free, will be able to accept our currency for all sorts of advertising. Our platform allows anyone to setup social networks, traffic exchanges, banner exchanges, article exchanges, safelists, PPC advertising sites, and countless other forms of advertising. Further they will be able to wholesale outdoor advertising space through our blockchain, and then retail it to their own customers through use of our platform.
This video would really help explain it. https://www.youtube.com/watch?v=UUXXlHFvG5o
Do you have any plans to make this cryptocurrency corporate friendly?
We are neither anti-corporate nor embracing corporate. We are simply decentralising the industry. There is relatively no profits in what we are doing. No member of our team makes more than 2.5% of funds raised during ICO. That equates to $25,000 per $1M we raise. Not a whole lot.
Do you have a strategy to convince companies to accept your coin for their services?
Our platform will be available for anyone. Our marketing plan is to spread our platform via open source channels. For full details please check http://tactoken.world.edu/marketing-growth/
What are the requirements to connect to your distributed network? What kind of resources I need for that? Is commodity hardware good enough for that?
The requirements are an internet connection if all one wants is a wallet – as is the case with most modern currencies. We will have mobile and web interfaces as well as desktop wallets and a decentralized exchange. In fact we are looking at cloning the entire waves platform as a base for our blockchain. So the requirements are nearly identical to that of the waves platform.
What measures are you taking to comply with GDPR requirements? Particularly regarding data privacy, security breaches, right to be forgotten.
GDPR and cryptocurrency do not mix – despite people wanting to shove them in the same box. A public ledger is for life. It cannot be undone. That is its intent. So things like “right to be forgotten” do not exist with any cryptocurrency. I would suggest to people trying to follow GDPR to attempt to be forgotten by bitcoins blockchain. It won’t happen.
That aside – we use a multi-redundant backup system to protect user data. However overall our data collection is not sensitive information except email addresses and cryptocurrency account addresses (used to issue refunds or early terminations).
At the time of launch, the currency will be valued at $10 per 1 tac. It is impossible for us to gauge how fast coin growth will be because it will be entirely dependent on advertising contracts we secure. If we secure $1M in contracts in the first three months – the retail value from those contracts should raise the value by roughly $0.5 M.