Quantum1Net: A closer look at Convertible Tokenstokenization ico cryptocurrenc convertible-token blockchain
In a previous article we briefly explained the concept behind a convertible note and how Quantum1Net has applied the same concept in our convertible token. Since we are the first ICO ever to use a convertible token it is important to explain not only the how but also thr why, as the concept appears somewhat alien to some people in the cryptocurrency and ICO community.
So, to the question at hand, why a convertible token?
As you know, Quantum1Net is creating a quantum secure transaction platform that can cover the needs of both private users and enterprise customers such as banks and exchanges without friction or modification of the core product.
We are also planning to release a quantum secure bitcoin equivalent called Quantum1Net Gold Token or Q1G for short, the use of which will be both to cover for the loss of bitcoin should it be cracked by a quantum attack and to act as a means of payment for services we intend to provide. While we have the technology, the implementation of these projects require funding.
Like normal startups we are bringing in capital from regular investors but we are also reaching out to the cryptocurrency community for support, with an ICO.
To merge both of these concepts we chose to combine the traditional Convertible Notes with the Tokens of the cryptocurrency world into what we call a Convertible Token.
This allows us to bring in capital while guaranteeing you, the buyer, access to our the Q1G coin once it goes online. A normal convertible note offsets the risk of purchase by the expected increase in value of the shares once the conversion is made as well as a bonus rebate usually issued to the holder.
The Q1S convertible token works the same way, the holder will receive a bonus 20% conversion rate, as well as the potential increase in value of the Q1S token prior to the release of Q1G, and the potential increase in value that is expected once the Q1G goes live.
This brings us to a question some people have raised: won’t the Q1S silver token be useless once the Q1G Gold coin arrives? The short answer is No, since the Silver Tokens areconverted into Gold Tokens.
One needs to think of the Q1S as an intermediate between you and the Gold Token, a Q1S is not just a token, it’s a promise of a larger amount of Gold Tokens once the conversion becomes available.
What you are doing is getting ahead of the game.
We hope this sheds some light on the Q1S and the Convertible Token concept.
Quantum1Net is developing the means to keep the digital world quantum-safe for years to come. Founded in 2017, Quantum1Net combines decades of industry experience with cutting edge technology to create quantum-secure encryption services. Starting with making Bitcoin safe from quantum hacking, Quantum1Net will roll out a wide range of novel products to protect digital transactions and communications from quantum hackers.
Original article was created by: Quantum1Net at medium.comDisclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency or ICO.
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