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By simply holding BFN tokens, you’ll get a cut from the income generated by the BlockFollow Network. Even though Bitcoin and cryptocurrencies, in general, began to operate nearly 10 years ago, there are still barriers, that slow down it’s spreading. BlockFollow will cover numerous missing elements. For someone who is lacking knowledge about blockchain technology, coins and the purpose of decentralization, it is really hard to understand the importance of it. We need to explain, teach and build this world together if the goal is to avoid crypto becoming a bubble. BlockFollow will provide various tools for rookie traders and professionals as well to help them make the best possible decisions.
Our motto is „Revolutionize the crypto community with us!”. It is truly important for us to work together with people, who want to give something back to the society, that brings us to the next level. We want to give something big for YOU and the fellow investors, traders, and holders. We believe that communicating with the audience, asking for their opinion and integrating their ideas is the way we must follow.
What is the value proposition
We are in the middle of a digital revolution. Centralized proprietary services are being replaced by decentralized ones. Blockchain technology offers possibilities we have never seen before. In the past years, Bitcoin was seen as a Ponzi, then as an enemy of the current, classic monetary system. It took a few years for the people to realize, how great potential it has. The money is pouring into the coins, and media started to talk about it. Banks are searching for ways to use the blockchain, CME launched Bitcoin Futures trading, it’s getting recognized and accepted around the globe.
Still, cryptocurrencies are unregulated and very fragile. A fake rumor can make a currency drop 30-50% of its value, if not more. There are a couple of reasons: market is still relatively small, so its easy to manipulate (for example, dotcom was 6.7 trillion dollars, when it popped); people don’t know, what they are investing in (they might be inexperienced in trading, following someone); last but not least, it is hard to gather information about a project and realise its advantages for someone, who has little to no technological knowledge. In the past years, only crypto-believers was trading. Now even our grandmothers are considering buying bitcoin. This grows FUD, that can cause a bubble.
There isn’t a gateway yet, that makes cryptocurrencies an everyday payment method and a long-term store of value. For an average person, it is even hard to purchase their first Bitcoin, Ethereum and I didn’t even mention other alternative coins so far. Currently, only a small percentage of humanity knows about cryptocurrencies, and even less uses it. Our task to make them understand it’s importance and help aid them from the first steps.
How to break down barriers? To help people, who are willing to invest or use cryptocurrencies in everyday transactions, we must arrange a safe, legal and fast way into the crypto-world, while making them a responsible user/trader and provide useful and valid information.
How can we take crypto to the next level and make it mainstream?
Finding solutions for merchants → Making cryptocurrencies easy and safe to use for businesses.
Educating people → Have to reach younger and older generations as well, people must understand the opportunities blockchain can bring.
Faster and cheaper transactions → An average bank outgoing transfer fee is $25 within the USA ($40+ for international wire transfer) and could take up to 2-3 days. Cryptocurrencies could cut the fees and time down radically.
Government acceptance → We are on a good way now. Countries like Russia and Estonia are working on their own cryptocurrencies. This will bring regulations, but they are needed if we would like to see cryptocurrencies as an everyday payment method.
Cutting down on energy usage → The Bitcoin-fever in the second half of 2017 have shown vulnerabilities and unpleasant problems. Each day we see more and more mining rigs starting to operate – and use so much energy its completely unsustainable. It must be cut down.
Eliminating scams → According to investopedia.com, 80% of initial coin offerings (ICO) are scams. Millions of dollars are wiped out by fake projects every month and media outlets are the first to talk about it making millions of people fear to use cryptocurrencies.
The BlockFollow Network token
BFN (BlockFollow Network) is the name of the token we will distribute and use on our platform. It has a maximum supply of 210.000.000 and will be implemented on Ethereum blockchain (ERC20) for the ICO. Later on, we will start our own blockchain and our investors will be able to upgrade their tokens. We will only accept Ethereum under the pre-ICO and ICO.