BillCrypt faces the final part of its ICO with good feelings

angel sanchez 13 February, 2020

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The news has reached us that BillCrypt is reaching the final phase of its ICO, with which it intends to raise funds for an ambitious project that we are going to tell you about today.

We are going to try to unravel what they offer us step by step, since at a certain point it can be complicated.

Table of Contents

What problem was there?

For Billcrypt, there is a big disconnect problem between various sectors that should be working together in the blockchain sector. On the one hand, we have companies that have detected a need for blockchain-based services, or simply need to implement a solution based on trust at some point. On the other hand, we have the blockchain service providers, which as the sector matures are larger and have a greater capacity to provide different proposals. And we can even introduce investors into this equation, who, as the current situation is, waste a lot of time and money in investigating all possible investment alternatives.

Billcrypt's value proposition

Mainly it is a platform. A complete ecosystem that seeks to unify the three involved in the previous section.

Billcrypto is a platform that interconnects different blockchains, making them interop with each other with certain common characteristics.

Companies and start-ups are going to have basic packages to allow them to create operational blockchains to manage themselves. From there they can develop their own products or hire a team of experts for the specific characteristics they need.

Investors in turn will be able to access financing for these projects with certain criteria of transparency and access to information in order to make their decisions.

And this is where what, in our view, is the true innovation of this project comes from. The interconnection of all the agents involved is done through 2 new concepts mainly: RB (blockchain representative), ViP (Virtual image part).

RB: Blockchain Representative

Representatives are a key figure in this ecosystem. Representatives have access to project information, and can prepare their reports or have certain conclusions about projects.

Their job is to prepare reports and advise companies with blockchain developments , and especially potential investors. They'll advise these investors on possible investments, and they'll do it well, because their potential returns depend on it. But above all, they want to do it well because their reputation is on the line. And that's the key: reputation.

ViP: Virtual Image Part

This is where the key to reputation comes in. Each of the RBs will be encoded with a token. We would say that your reputation is quantified and in this way it can go up or down in value depending on your successes and how reliable they are.

In this way, investors can turn to them when correctly choosing the project in which they invest. They can compare between the value of the VIP of the various BRs, and hire the one they consider appropriate, and later evaluate their ability to continue modeling the ViP of that particular BR.

Each BR has a great motivation there to do a good job and thus be valued and also to be able to charge more for their work, of course.

And with this we have already built the basic mechanism that will make the system work, no one wins by failing to comply with their obligations.

Your Token and the ICO

The Billcrypt system interconnects blockchains based on Solidity, the programming language for smart contracts on the Ethereum network. For this operation, the native BILC token will be used with the following characteristics:

Name: Billcrypt
Symbol: BILC
Technology: ERC-20 token
Total amount: 152.000.000
Partition: up to 8 decimal places.

We have two ways to acquire BILC tokens.

They can be acquired during the ITO phase of the project, in which you can send ETH to the platform's smart contract, and immediately receive the tokens at the address from which the payment was made.

On the other hand, tokens can be obtained by collaborating with the project and with the popular "bounty". For which we will have to register on the page and access the jobs and tasks that are available.