IOV (IOV) ICO
Past ICOJan 15, 2019 – Jan 30, 2019
IOV provides a universal protocol for blockchains and wallet users.
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|Project industry||Finance Services & Banking|
The Blockchain has brought a number of promises to the world and is expected by many to disrupt and transform financial services, organizations and global exchanges. Those promises will likely impact many industries like Finance, Healthcare, Consumer Goods and Governments. The blockchain appears now to be the solution to fix many technological problems like smart contracts or proof of ownership. Even so, the problem of the most basic and common use of the blockchain, which is to easily and securely receive or send a token like a bitcoin, is yet not solved by the industry.
Within this context, the IOV community is bringing blockchains to the people. We are committed to delivering a protocol and an application that empowers the end-users when it comes to sending, receiving and holding tokens.
Major challenges of the blockchain
The usage of a blockchain is not a user-friendly concept designed for most people. It was initially designed for cryptography enthusiasts and professionals. On the other hand, when it comes to the actual end-users and people, blockchain platforms haven’t been able to demonstrate a reliable, smooth, simple and secure experience to exchange different values and tokens. A combination of human error issues, the complexity of the experience and the non-interoperability of the chains are a major problem for the end-user. For those reasons, many individuals don’t want to use the blockchain and are skeptical about its usability.
The human error problem
A large number of transactions end up in errors and loss of funds. Even if the blockchain itself is secure to send a digital from one user to another, there is always the possibility of human error. It can be very easy to lose or waste tokens by sending them to an address not present on the blockchain. As of today, nearly 30% of the total Bitcoin created is likely to be lost or put out of circulation, due to human errors.
Exchanging tokens is a painful experience or the interoperability problem
Today, it is quite challenging for the end-user to turn a token to another. The process in most circumstances is extremely dependent on third parties for the exchanges and the effect has been counterintuitive. Some fundamental goals of blockchain were to limit the transactions costs and remove the necessity of the middle man. Meanwhile, exchanges have constantly increased their fees and created dependence on themselves to users. Furthermore, platforms are now blocking some accounts without explanation. The result is an experience similar to a traditional bank, controlling access to accounts and how those accounts can be used.
Delivering a tangible solution to the people. As entrepreneurs, experts in cryptocurrency, and digital technologists, we believe the time has come to deliver the promises of the blockchain to the real world and to re-empower the people with this technology. Our goal is to fix three major problems of the blockchain today when it comes to sending, receiving and exchanging tokens:
The IOV Wallet, the first generation of wallets designed for Everyone
The IOV Wallet will be the first wallet to implement our Blockchain Communication Protocol, or BCP. It is able to send, receive and exchange any kind of cryptocurrency from a single address of value. As soon as a blockchain implements the BCP protocol, its token will be transferrable via the IOV Wallet.
ICO DetailsSoft cap: 2,000,000 EUR
Hard cap: 25,000,000 EUR
Raised: 4,888,325 USD
LegalRegistration country: France
Office address: IOV SAS, 33 rue La Fayette, 75009, Paris, France
Token infoTicker: IOV
Token price in EUR: 1 IOV = 0.1 EUR
Accepted currencies: BTCEUR
Pre-Sale 1: 0.08 EUR
Pre-Sale 2: 0.09 EUR
Public Sale: 0.10 EUR
65% owned by the IOV Token Sale participants (over up to 3 rounds)
12% owned by the security reserve that will be staked by the IOV SAS for operating the Blockchain Name Service
20% owned by the IOV Team + Advisors + Employees
3% for by Bounties and Incentive Programs
50% - Software development
30% - Marketing/Sales
15% - Admin/Legal
5% - Ecosystem
IOV (IOV) ICO Roadmap
Full Technical Specification of the Blockchain Communication Protocol
Account State Management
Support for Single Token And Multi Token
Non-fungible Tokens (specced, but not yet implemented)
Testnet with 2 Blockchains, and the Blockchain Communication Protocol Partially Implemented (sending coins, human addresses)
Two Internal Testnets with Partial Implementation
POC Human Readable Address (not yet implemented in NFT)
First Working Prototype of the IOV Wallet (basic functionality, such as sending/receiving different tokens from a single wallet with partial implementation of the BCP)
Sending and Receiving Different Tokens
Connecting to Multiple Networks
First Release of IOV-core
Querying network(s) state
First Release of React-based Wallet
Core Feature Set for Managing an Account
Testnet with 2 Blockchains, Further Blockchain Communication Protocol Implementation (sending coins, human addresses, atomic swaps, multisig, bootstrap nodes election)
Human Addresses Implemented Using NFT
Bootstrap Node Election (changing who is allowed to make blocks)
First Prototype of the Blockchain Name Service (with registration, update of token definition)
Token Object Modeling in Blockchain
Implementation into Blockchain
Second Working Prototype of the IOV Wallet (advanced functionality, such as exchanging Token A against Token B with atomic cross swaps and a human address of value)
Atomic Swaps In Wallet (already functional, undergoing revisions)
Simple Matchmaking Proof of Concept Website for Atomic Swaps (in design stages)
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