Kamis, 24 Mei 2018

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What Is LocalCoinSwap

The key idea of ​​the world of crypto currency is the elimination of the "big boss" - entities or entities that have superior power in the market. The LocalCoinSwap project team transposes this idea directly into operations with crypto currency. The main goal is to create an independent platform for acquiring and, in the future, other operations with crypto-currencies. The authors of LocalCoinSwap are hoping thus to return the financial community power over the market, which is now in the hands of large monopolists.

Key Features

A variety of crypto currency
The LocalCoinSwap platform supports a wide range of crypto currency. According to the founders of the project, none of the existing peer-to-peer exchanges.

Wide choice of payment methods
LocalCoinSwap allows you to sell and buy crypto currency in all possible ways. In addition, users can add additional payment systems.

Functionality of social networks
On the platform of LocalCoinSwap are implemented well familiar to the user the possibilities of social networks: profiles, friend lists, "achivki" and special awards.

Democratic approach to management
The management of the platform will be largely carried out by the holders of the tokens through the voting system. The introduction of new digital assets, improvement of certain elements of the site and other decisions will be made by the votes of the participants.

Security
Transaction security is achieved through various options of multicasting available for certain crypto-currencies. 95% of the revenue of the site is stored in local purses.

Simplicity of operations
Operations between LocalCoinSwap users that do not require trust are implemented on the basis of an escrow system tested in several scenarios and implemented with the help of an international user support team. Interactivity and the system of trust can reduce the number of unnecessary actions.


Development plan

Prehistory
LocalCoinSwap was founded in 2015. In September of the following year, the first team was formed, which by March 2017 developed the concept and moved to the development of the exchange in August of the same year. The official project document was submitted in February 2018 and the same month the pre-ICO was launched.

In March LocalCoinSwap conducted pre-sales, as a result of which all the tokens were sold. The opening of the ICO is scheduled for April 15.

2018
The authors of the project plan in May. In June, investors should gain access to the platform, and in July, according to the plan, they will be able to participate for the first time in the voting on the platform. The launch is scheduled for August. In October, the work on the REST API should be completed.

The Cryptoshare ICO is scheduled to be launched in May.

2019
The release of the mobile application LocalCoinSwap for traders is scheduled for January next year. In February, it is planned to pay dividends.


The project team

The LocalCoinSwap team is based in Hong Kong. Key figures:

Nathan Worsley is Director of Technology, Bachelor of Economics. According to a profile in LinkedIn, he began his career in the Australian division of TSA Group as a sales specialist. The following year he took up the position of Business Development Manager at Value Marketing Ltd. He combined his work in both positions until he founded, together with his colleagues, Digital Assets Management Ltd., in which he served as the chief fund manager until March 2017. Since February 2018, Worsley has been a Technology Advisor for Webcoin ICO, combining this position with the work in LocalCoinSwap, which began in March of last year. According to information on the site LocalCoinSwap, Nathan was among the first investors in Bitcoin and Etherium, and also developed a number of successful algorithms for cryptotrading based on Triangular Arbitrage technology.

Thomas Underwood is a financial director, a bachelor in commerce. A profile at LinkedIn tells us that Underwood began his career as a finance specialist in the Australian division of ISS Facility Services in April 2008 and remained in office for six months. From August 2011 to March 2014 he performed similar functions at Sinclair Knight Merz. In May 2014 he joined Almani Enterprises Pty as business development manager and headed the relevant department until August 2015. In November of last year, he began the duties of a personal financial analyst at Digital Assets Management Ltd. and to this day combines these functions with the role with LocalCoinSwap. In addition, since July of last year he has been working as a regional development manager at TradingView. The holder of the diploma of the first-level CFA financial analyst.

Daniel Worsley is Executive Director, Bachelor in Economics. The LinkedIn-profile specifies the work as an individual financial planner and adviser for investments in Digital Assets Management Ltd. According to information on the site LocalCoinSwap, has a successful eight-year experience of successful trading on various financial exchanges.

Valerie Nathanelov is the leading marketer. Since 2009, he is engaged in the founding of financial start-ups and financial consulting. He joins the position in LocalCoinSwap with the supervision of his own startups GrowAbric and AroundCommodities.com, is part of the advisory councils Rocket ICO, APPOStoken, and OBIYCOIN. The author of the column in the International Economics and Finance Journal.

Advisory Board

The Advisory Council of LocalCoinSwap includes eight experts from different countries. Among them are a technology advisor, an advisor on legal issues, three marketing advisers and three financial advisors. Three of the advisory council, according to information on the site, have a successful experience in working with ICO.

Sales report for the token

Project Name: LocalCoinSwap Coinshares
Token: LCS
Official website: https://localcoinswap.com
Project document: https://www.localcoinswap.com/LocalCoinSwap_whitepaper_v1.0.pdf
Requirements for buyers: Citizens of countries in which participation in the ICO is not prohibited by law
Calculated currencies: Ethereum (ETH), Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Dash (DASH), Ethereum Classic (ETC), US Dollar (USD), Euro (EUR), British Pound ), Australian Dollar (AUD), New Zealand Dollar (NZD), Canadian Dollar (CAD) & more
Pre-sales results: 100% tokens sold
ICO start: April 15
End of ICO: no information
Total token volume: 100,000,000 LCS
Available for pre-ICO / pre-sale / ICO: 70,000,000 LCS
The upper limit of capitalization (hard cap): $ 20,000,000 USD
The lower limit of capitalization (soft cap): $ 500,000 USD
Exchange rate: 1 LCS = 0.4 US Dollar (USD) (1 USD = 2.5 LCS)
Frozen: All developers tokens are frozen for a year
Unrealized tokens: burned
Distribution of LCS tokens


- a program of remuneration for users that help to strengthen the security of the platform
Special purpose


** - further expansion of the range of supported crypto-currencies. LocalCoinSwap plans to create a special department, which will focus on the search, analysis and implementation of new crypto currency.

Media Coverage

LocalCoinSwap can be seen on sites that publish ICO surveys and compile their lists.

Competition

In the project document, work with competition is mentioned in two paragraphs:

The value of the trader's contributions will be established on the basis of research of competitors to be on par with them or surpass them. Now it is set at 1%.
Based on the evaluation of the volumes of peer-to-peer trading with the ten most promising crypto currencies, LocalCoinSwap will be able to attract half of this volume for eight of these crypto-currencies.
Risks

LocalCoinSwap is committed to creating a platform for acquiring crypto-currencies - let's say, the idea is not unique. This is not the first such attempt: some similar projects have already gone into oblivion, others are being developed right now. The authors of the project count on the following competitive advantages:

A wide range of supported crypto currency.
Variety of payment methods.
Community participation in the development of the platform.
Setting the value of trader fees based on the analysis of competitors.
Will this be enough to prevent the project from becoming another failed attempt to create a new platform for acquiring crypto currency, while it is unclear.

Another point worth mentioning is the project documentation. We saw documents of a similar format, which provide a detailed analysis of competition and risks, but the "whitepaper" LocalCoinSwap does not apply to them. This may scare off some investors.

Conclusion

There is no breakthrough idea behind the LocalCoinSwap project. Before the ICO is a difficult task: to break through tough competition and avoid the associated risks (or reduce them). Therefore, we would like the LocalCoinSwap team to provide a more detailed vision of how they plan to accomplish this task.

Nevertheless, according to the information on the project's website, the presale ended with a soldier who brought in $ 2.4 million. This means that, firstly, the LocalCoinSwap team sets realistic, achievable goals, and secondly, that the idea is interesting to the market.

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