BitcoinX: Thank you for taking the time to chat with us today. So, tell us who you are and what your position is at DARFCHAIN?
DARFCHAIN: My name is Stanislav Taktaev, and I’m a founder and CEO of DARFchain.
BitcoinX: Tell us – what is DARFCHAIN? What is the main idea behind the project and why did you decide to start it?
DARFCHAIN: DARFChain stands for “Distributed Accounting, Resources and Financials on blockchain”. We were the first to develop an open source ERP platform on blockchain, created for small businesses and entrepreneurs in economically undeveloped regions proving that they can obtain advantages of cryptoeconomy. But in no time at all we got an understanding that blockchain industry needs more instruments to integrate data from old world. We understood that these days smart contracts can’t and don’t work in real world without additional semantic information about goods and services from ERP, and we started to work in this direction. Also we keep our spirits high and promote a concept of brand new world, where a number of businesses and individuals, effectively everybody can issue his or her personal or corporate tokens and make deals using them. No currencies will be needed for this, no fiat money at all. And that was the moment when ‘tokenomy’ vision was born, a system where thousands of tokens circulate on exchanges and automated smart agents search for required tokens to supply.
When we started to prepare for an ICO, the market was in its early boom stage, witnessed huge amounts of money raised with nearly no control from thousands of crowd investors, and we decides that rights of crowd investors need to be protected not only by honesty of team leaders and escrow procedures, but by crowd audit methods, when every baker of project can see the inside life of seeded projects.
Collection information about amount of project provide us to assessing projects and give to our investors advises how to distinguish reliable and profitable projects from scam, fraud and weak projects. So our we make our investors richer not only with our tokens, but in hole portfolio too. We help grow crypto whales. ))
BitcoinX: Blockchain technology is expected to alter the landscape and/or create efficiencies in almost every industry. In what ways does your technology address these?
DARFCHAIN: A newly born blockchain economy needs its own instruments to work and to conduct business. We all are in need of reliable bullet-proof accounting where data from material world transfer to blockchain by oraclizing technics. Thus, our project addresses matters of great importance, which are transparency of product and money flows, reliability of financial reporting, and, to a certain extent, trustworthiness of counterparties in general. We develop a mechanism that allows companies and teams to keep their books in a distributed manner, verified transaction in Ethereum or Waves blockchain. The most obvious effect of that will be in the field of investor-investee communications when the former is able to obtain unbiased historic reports at any time from a third party. We dream, that, in nearest future, when a dominating part of businesses will use blockchain, companies, teams and projects will open their business accounting for partners, customers, investors to get more trust and reduce transaction costs this way.
BitcoinX: When and why did you first decide to do an ICO?
DARFCHAIN: We kicked off in an old fashion way, running circles around venture capitalists, business angels and small private equity investors. And it was when our committed potential investors broke the deal during the 15th round of negotiations, complaining that he doesn’t feel like understanding some minor details and can’t start the project. That’s when I learned the first rule of new era start-upper: never waste your time finding an investor, write your white paper instead. Thus, Our ICO is a predefined one.
BitcoinX: Tell us about what preparation was required to get the project to this point?
DARFCHAIN: Here are some general rules for an ICO startup, aside from the one I already mentioned: Rule #2. Have a detailed and clear vision of the project – this is no different from a usual business plan. Rule #3. Write white paper in a clear manner, making it understandable for everybody. Rule #4. Publish white paper on Bitcointalk.org and open your helmet, cause the hater trolls will be biting you. Rule #5. Be prepared for everything, from tons of hate and criticizing to discovering an extra of 10 BTC in the morning in your crypto wallet – haters are way more probable and outnumber donors, obviously, so stick to believing in yourself and don’t lose faith in your project. Rule #6. Be ready to repeat this step N cycles, where N can be rather big. Rule #7. Create a landing page Rule #8. Start bounty programme and love your bountiers at all time, they are your first investors. Rule #9. Start pre-sale of tokens and advertise it everywhere. Rule #10. As early as possible start developing your product and demonstrate it to online community. We started the project in May 2017 and have been fully on track of its development ever since. These days we are delivering the market the news on implementation of the Ethereum blockchain based ERP system, and expect the next milestone to be achieved in early November – we’ll rollout alfa-version of crowd audit system.
BitcoinX: What makes this project especially exciting for ICO participants? What makes them want to join?
DARFCHAIN: The answer is simple. DARFchain aims to become the ultimate solution for audit and control purposes for all upcoming ICO, from gigantic corporations to tiny grocery stores. The more clients use DARFchain, the more DARF is in demand, the merrier. We expect DARF price to boost rapidly.
Also, we don’t sell air, we offer to test a working prototype. DARF token is not some fog security, it is a commodity token, designed to act as a working body of the DARFchain system, i.e. every user will be spending tiny parts of DARF for their transactions to be kept in distributed BigchainDB storage and hashed in a public blockchains (Bitcoin, Ethereum, Waves). Thus, as the number of user of DARFchain will grow, amount of their transaction will grow as well and DARF tokens will keep growing along. Number of DARF issued and to be in circulation is a fixed number, and “tothemooon” is unavoidable.
BitcoinX: Where are you in the actual development phase of the project?
DARFCHAIN: We have MVP (minimal viable product) in place and working hard to expand it further for Bitcoin, Ethereum and Waves blockchains. Now we work for alpha-release of crowd audit system of ICO projects.
BitcoinX: After a successful ICO, what is the timeline for coming to market?
DARFCHAIN: We plan to do it immediately. For now, we already have a core part of the system and obtained our first crowd audit clients. We will be delivering DARF tokens to our investors immediately after the purchase. In any case, no later than one week after the placement all DARFs will be distributed. Token will be listed on one or two major exchanges.
BitcoinX: Are you focused in any specific geographic areas?
DARFCHAIN: No, we see tokenomy as a global phenomenon, and don’t limit our presence to any country.
BitcoinX: For those who have read your whitepaper and other info, is there anything else you want to add to convince them to participate?
DARFCHAIN: Come and join our series of webinars that DARFchain will be hosting in October and follow us through whatever communication channel you use, from Twitter (https://twitter.com/darfchain) to Facebook (https://www.facebook.com/DARFChain/) also Reddit (https://www.reddit.com/user/DARFChain/ ), Medium (https://medium.com/@darfchain/) , Telegram https://t.me/joinchat/AwK-gENtLR8IfVr0jVlUZA