Koblenz, Germany (pta030/27.08.2018/15:30) - In 2017, the company created new censorship-resistant file sharing / streaming infrastructure with integrated payment with the UltraUpload.io platform. The project is currently in stealth mode (MVP, unpromoted), but has already proved its suitability for everyday use as part of a partnership with external projects.
In contrast to comparable projects like storj.io, hosters are compensated for the bandwidth used (traffic) and not for the storage space.
The marketing budget is to be generated with an ICO, which will start in September 2018 at www.Snowden-Coin.com. To this end, 24 million coins (Ethereum ERC20 tokens) are generated.
Over a maximum period of three years, we expect Eur24 million to be invested. The bulk of the proceeds should be used for the transition of the previous client-server database into a blockchain or distributed ledger. The goal is to keep published files unremovable in the cloud and still be able to pay participating hosters, publishers, resellers and uploaders for each anonymized download.
Investors in this Security Asset Coin receive 24% of all platform revenues annually in the form of free coins. The company keeps 6%. In order to distribute the annual dividend, coins are to be bought back monthly, whereby we hope to encourage coin value stabilization.
Since the token receives a securities-like character due to the revenue share, the prospectus-free sale in the European Economic Area is limited to Eur5 million every 12 months (§3 P. 2 S.5 WpPG).
For fund brokers a 15% commission is scheduled. For shareholders of the company the auction system offers preferential conditions. As is usual with ICOs, the first coins are sold with discounts up to 50%.