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NCrypto (NCR) ICO Review

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NCrypto is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.

Essential Information

Ico Time24 Jan 2019 – 30 Oct 2020
Token NameNCrypto
Token SymbolNCR
WhitepaperView Whitepaper
Website LinkHome
Price0.25$
PlatformEthereum
Soft Cap500,000$
Hard Cap5 M

More about NCrypto (NCR) ICO:

The Ncrypto.io wallet is a free multicurrency interface that allows users to interact directly with the blockchain while remaining in full control of keys and funds. Users can easily and far issue, list and trade their assets in one intuitive interface. The Ncrypto POS (Point of Sale) settlement module lets businesses accept payments in fiat, crypto, and their own tokens issued in the platform, then transfer cashback to all the customers using Android or iOS devices and internet.

Ncrypto.io is a tool used more to simplify and economically optimize interactions between businesses and individuals rather than to offer another way of crowdfunding or running so-called ICO (Initial Coin Offering). Ncrypto.io presents a mass-market product that can simplify the engagement of massive volumes of users in terms of capabilities that the crypto-economy gives.

The users of the platform get a convenient instrument (Web/iOS/Android applications) that enables them: to pay and get payments in point of sales with fiat, crypto and business assets; to deposit funds including fiat (USD/EUR); to operate with a number of different currencies; to send money to their cards or bank accounts; to issue their own tokens or assets; to define and set their own logic of token sale; to list their assets at integrated marketplace and exchange; to get an integrated customizing payment model to interact with crowdinvestors; to exchange crypto, fiat, and their other assets at an integrated exchange. All of these features are united within just a single platform.

The platform has its own multicurrency exchange. It avoids the need for double/triple conversion and exchanges one crypto-currency for another or for fiat using, for example, a dollar account. In this case, the network itself will select optimal exchange rate. The special feature of the platform is the availability of a separate module for the initial offering of tokens on the exchange for more visual and simpler “crowdsale”. The business logic of the token (or the rules of the “crowdsale”) is formed by a simple selection of the limiting conditions. The additional block – the token prospectus – makes it easy to integrate the created token and the rules of carrying out “crowdsale” with the project’s web page. It serves as a gateway for investors to carry out payments in both crypto and fiat currencies. Individuals can easily pay for goods and services in POSs, and businesses can get payments in crypto, fiat, and their own tokens by means of QR code. Ncrypto.io platform and its legal body Ncrypto Networks OU operate in a 100% legitimate framework, letting its users issue crypto assets and realize crowdfunding of their projects in the same way.

Ncrypto.io platform ensures that all transfers of fiat money are done through KYC (know your client) procedures according to the Money Laundering and Terrorist Financing Prevention Act (MLTFPA) §70 Estonian FIU. In the same way, those projects that are in full compliance with all the regulatory legal frameworks of Estonia are marked as “legally complied” (crypto assets and the token crowdfunding prospectus), hence letting their contributors know about these projects’ legal status. 

Ncrypto is a blockchain technology based innovation platform which helps businesses and private actors to interact with new crypto economy. You can create your tokens easily and securely right now. Store and exchange your crypto and fiat assets.

Summary


Ncrypto.io is a tool used more to simplify and economically optimize interactions between businesses and individuals rather than to offer another way of crowdfunding or running so-called ICO (Initial Coin Offering). Ncrypto.io presents a mass-market product that can simplify the engagement of massive volumes of users in terms of capabilities that the crypto-economy gives. The users of the platform get a convenient instrument (Web/iOS/Android applications) that enables them: ✓ to pay and get payments in point of sales with fiat, crypto and business assets ✓ to deposit funds including fiat (USD/EUR) ✓ to operate with a number of different currencies ✓ to send money to their cards or bank accounts ✓ to issue their own tokens or assets ✓ to define and set their own logic of token sale ✓ to list their assets at integrated marketplace and exchange ✓ to get an integrated customizing payment model to interact with crowdinvestors ✓ to exchange crypto, fiat, and their other assets at an integrated exchange

All of these features are united within just a single platform.

The platform has its own multicurrency exchange.
The special feature of the platform is the availability of a separate module for the initial offering of tokens on the exchange for more visual and simpler “crowdsale”. The business logic of the token (or the rules of the “crowdsale”) is formed by a simple selection of the limiting conditions.
The additional block – the token prospectus – makes it easy to integrate the created token and the rules of carrying out “crowdsale” with the project’s web page. It serves as a gateway for investors to carry out payments in both crypto and fiat currencies.
Individuals can easily pay for goods and services in POSs, and businesses can get payments in crypto, fiat, and their own tokens by means of QR code.
Ncrypto Networks OU (Registration code 14461466, Harju maakond, Tallin, Kesklinna linnaosa, Tuukri tn 19-tuba 315, 10152) is licensed by FIU to follow “Financial services, providing services of exchanging a virtual currency against a fiat currency”, №FVR000278, start of validity Jul 17, 2018; and “Financial services, providing a virtual currency wallet service”, №FRK000236, start of validity Jul 17, 2018.

Addressable Market

The New Crypto-Economy

Now that we have just passed a ten-year anniversary of the first crypto, the Bitcoin, it is high time to express a bit of uncertainty of how the whole story with crypto-currencies will evolve. Some might compare its perspectives with the Internet and the dotcom phenomenon of 2000s. Well, the Internet technology primarily adopted in North America reached the rate of $3-5 trillion 18 years ago. Cryptocurrencies are a global phenomenon; yet, they are currently worth only $150-300 billion1.
Tracing the blockchain development, we can just observe its ten-year adoption from crypto-anarchic geeks to black-market/money-laundering offenders (“Dark Age” by McKenzie2), and then to much wider business applications of the real economic processes right now. The new crypto-economy is far away to be accepted by corporate business yet, but certain implementations of business processes tokenization within private blockchains are being widely and actively investigated at the moment. To extend the curve of the blockchain development further, we can assume that the next huge potential area of adoption would be small and medium businesses; and from now, it is not quite clear if somebody would follow the corporate sector or even would lead this process because of its higher flexibility. Basically, it is all what Ncrypto.io project is about – to commoditize the blockchain technology to the level being widely acceptable by mass-market users.
In this new horizontal value chain, the role of intermediators that somehow parasitize the real value generation or “redistributors” is reduced almost to zero. In its turn, that means higher labor productivity, higher efficiency, and higher competitiveness. For active entrepreneurial people, this new parallel cryptoeconomy might look very much like a new attractive and lucrative “liberal jurisdiction” refocusing their efforts and capital. Actually, that is all what we can see right now. The “pioneers” in the sector are already actively exploring these new opportunities that quite dangerously balance within the legal framework. Talking just about ICOs (fund raising), some statistical figures claim the growth from $98,7M in 2016 and $6,563B in 2017 to $21,548B for ten months of 2018, which is relatively small part of the whole story3.
To compare the blockchain with the whole internet, we are now probably in 1997 or 1998 with a couple of successful virtual communities. Nowadays, there are only 24 big communities with more than a hundred-million audiences and hundreds (if not thousands) of the smaller ones4. This fact provides huge space for the growth and opportunities to everyone. Both McKenzie and PwC forecast the blockchain technology to reach $3 trillion by 20305.

The Crypto problems


The Ncrypto project’s aim is to incorporate blockchain technology into real “brick-and-mortar” business through integration of intuitive tokenization, multicurrency blockchain payment system, marketplace, exchange, and POS settlement module into unified homogeneous environment. Currently, there is a significant number of tools that cover big areas of the above-mentioned tasks but none that solve them in complex. In general, we can segment them into either the groups that have technical focus (consensus, smart-contacts, decentralized applications, etc.) or consumer features (security tokenization, embedded exchange, KYC/AML, etc.)
The general shortcoming of the first group of blockchain platforms is their overall technical complication. We can say that these platforms are made by technical experts for other technical experts. Some of these blockchains are real breakthrough technological projects; however, in our opinion, they are far away from mass-business adoption. The Turing completeness of Ethereum system gives unlimited capabilities for programming smart contracts, but only a few people need such diversity. A decentralized application is a great tool, but it will apparently be very rarely used by a snack bar near your house that does not care actually too much about consensus mechanism as well.
The second group focuses on what they believe in and what is actually important for some segment of ICO/ITO/STO issuers: compliance, AML/KYC, regulated trade, etc. Some platforms go so far as to help with legal landing pages and to perform some escrow functions.
That is all what Ncrypto project does not focus on. Our aim is to minimize finance and expertise threshold for the above-mentioned snack bar to issue crypto vouchers easily – “10 lattes priced as 5 ones” – that might be then simply purchased by using crypto or fiat, might be easily accepted by the bar and might be traded (exchanged) to some extent. The platform gives an instrument for any business that uses iOS/Android gadgets and Internet in order to issue its own crypto tokens (payment currencies, utilities, accumulative points, vouchers, certificates, etc.) and accept them and other liquid crypto for payments.

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