Is LEOCoin just another worthless coin? Why does the owner call it a revolutionary solution? I visited Leocode, and I already knew the truth. When I heard about the next revolutions, only one word kept ringing in my head: scam. I quickly created a new identity: The owner of a tech company from Botswana. Difficult to verify, and at the same time, a potential customer. Bull’s-eye. It worked.

Straight into the lion’s den

Leocode. The lion on the building tells me I’m in the right place. 5 minutes to the meeting. I’m going in. Of course, I have a briefcase and a laptop with me. I prepared myself well so that they wouldn’t get suspicious. I sit in the conference room. Everything is minimalist and modern. We’ll see if it’s just appearances.

It starts normally. I am talking about my equally modern and revolutionary technology company in Botswana. They are impressed – so am I. But I’m getting to the point. I want to strengthen the loyalty of my employees and introduce non-standard employee benefits. A friend told me about the amazing “Treasury” project. And I want it.

The “Treasury” project – a modern bonus system

Let’s start with the basics. I want to know what the solution is. You may find it hard to believe, but… the Treasury project is a great way to show appreciation for the hard work and dedication of our employees. By setting aside a portion of profits each year to be distributed as bonuses, Leocode can motivate and incentivize workers to continue striving for excellence.

Red Flags: Does LEOCoin Work?

The first red flag. LEOCoin enables the company to grow by paying bonuses to employees. Impossible, right?

The second red flag. That’s where I’d end a date, but this is a business meeting… I don’t believe that employees are certainly happy to accept imaginary LEOCoins instead of cash.

The third red flag. When deciding to introduce LEOCoins, do I lose control over the implemented bonus system?

Red flags turn green

It turns out that Leocode transfers power to its employees thanks to the “Vault”. We all know that power works like a magnet. An employee who joins the Vault is given the opportunity to decide who will receive a bonus in a given month.

Tokens, which are awarded as part of the commitment to the company, build a sense of community among employees, as they all strive for a common goal, which is to increase the value of the company.

Each employee decides for themself whether they want to join the project. An additional motivator is the fact that the earlier you join the project, the more you can earn.

As an owner, I don’t lose control. Rewarded workers can convert tokens strictly after transfer into cash. All of these terms are gathered in one place – the terms and conditions. The document has been individually suited to the needs and expectations of the board and workers and meets the legal requirements.

Is virtual currency a real risk?

Hearing “cryptocurrency”, I see many risks. Leocode replies: Are you sure about that? The Treasury project is strictly related to the company’s profits. After finishing each financial year, the board decides how much of the year’s profits will be put in the treasure pocket intended for the worker’s bonuses. What’s more? It contributes to the increase in the value of LEOCoin. 

The Treasury’s value is expressed in amounts, and every year, the value of the treasure pocket is getting higher as part of the company’s development. Every awarded worker becomes part of the Treasury project and collects the tokens in the Metamask Wallet. 

Leocode found the Holy Grail?

I spent many hours talking to Leocode, looking for an answer to the question: is LEOCoin the holy grail? Imagine that… The LEOCoin is an innovative type of token that offers many benefits to the company and its employees. Being emitted on the Polygon chain means that it is reliable, secure, and can handle large volumes of transactions quickly and efficiently. The fact that the tokens can be converted into cash also makes them a valuable asset for employees, who can use them to supplement their income or invest in other opportunities. 

The regular updates to the token’s value based on the company’s profits ensure that it remains a fair and accurate reflection of the company’s success.

Can I trust you? Treasury Management

Effective treasury management is crucial for the success of the project and the company as a whole. It is the responsibility of the owner and administrators to ensure that the rules and regulations of the project are followed and that workers understand their rights and responsibilities. 

Clear communication and transparency are key to maintaining trust and accountability among all parties involved. By working together, Leocode can ensure that the project is run smoothly and that all workers receive the recognition and rewards they deserve.

Am I ready for a powerful tool?

The “LEOCoin” panel is a powerful tool that enables the company’s owners and administrators to manage the tokens effectively and efficiently. With features designed specifically for their needs, they can easily track the value of the tokens and make decisions about how to distribute them among workers. The panel also allows for easy communication and collaboration between different departments and teams, helping to streamline the process and ensure that everyone is on the same page. 

In summary, the main functions of LEOCoin:

The Administrator:

• has the ability to freeze tokens,
• sets the accumulator address for token collection,
• adds tokens within the set limit,
• burns tokens,
• adds a new administrator using their wallet address,
• transfers coins between accounts.

The Owner:

• has the ability to change the emission limit,
• adds a new administrator using their wallet address,
• allows administrators to run the “coin transfer” function.

Mission successfully completed

Overall, the Treasury project and the LEOCoin offer a unique and innovative way for a company to reward employees and incentivize them to work towards a common goal. Effective treasury management is crucial for the success of the project, and the LEOCoin panel provides a powerful tool for owners and administrators to manage the tokens efficiently and effectively. 

By maintaining clear communication and transparency, Leocode can ensure that the project is run smoothly and all workers receive the recognition and rewards they deserve. With the right tools and resources in place, the Treasury project can be a great success and benefit everyone involved!

If you want to talk to us about your idea, let’s arrange a virtual coffee!

[Contact us]

Artykuł Mission: LEOCoin – revolution or another crypto? pochodzi z serwisu LEOCODE.

In the coming months, the market for immersive technologies may shrink, and only the best specialists will remain. The Metaverse has enormous potential in many areas, including entertainment, education, healthcare, and social interaction. It offers a unique opportunity to create immersive experiences that can help people learn, socialize, and work more effectively. In the entertainment industry, the Metaverse could become the next big thing, offering a new platform for video games, movies, and other forms of media. It can also provide a platform for virtual concerts, festivals, and other events, allowing people from all over the world to attend. However, Apple’s entry into the market can change the landscape with its expertise in hyping a large audience and creating a demand for their products. Therefore, creating apps for Apple’s headsets will be profitable and lead to more software, which will attract more buyers.

In conclusion, despite the fluctuations in the virtual world, immersive technologies are here to stay. The metaverse has the potential to completely revolutionize the way we interact with each other and the internet. While there are many challenges that must be overcome, the benefits of a fully-realized metaverse are too great to ignore. As technology continues to advance, it is likely that we will see significant progress towards the creation of a metaverse in the coming years. It is worth being associated with these topics to avoid a decline like Nokia. At Leocode, we will strive to gain trust with our clients and contribute to the development of the metaverse.

Artykuł The Future of Metaverse! pochodzi z serwisu LEOCODE.

The traditional customer service model, which often relies on phone calls, can lead to misunderstandings and difficulties in solving problems. For example, when trying to explain an issue with a broken fridge over the phone, it can be hard for customers to effectively communicate their problem, and for the agent to provide accurate assistance. This can lead to frustration for both parties.

With remote visual support, customers can see agents face to face. The result is a genuine human connection – something that’s being called “visual empathy.” Together, they can slash the friction and work toward a solution.

The role of customer service teams will be vital in the metaverse, with the ability to provide efficient and personalized assistance through remote visual support and augmented reality tools. For example, if my refrigerator is not functioning properly, I could initiate a video call with a customer service representative by simply scanning a QR code located inside the fridge, without needing to download any additional software. As I explain the issue, the agent would utilize machine vision technology to determine the make, model, and warranty status of my refrigerator. Additionally, they could utilize an augmented reality screen overlay on their device to display the specifications of my refrigerator, while an AI system generates a troubleshooting guide in the background.

Remote visual support allows customers to interact with agents face-to-face, fostering a sense of “visual empathy” and making it easier to work towards a solution. By existing in the same virtual space, issues can be solved more efficiently, using features such as product demonstrations, and troubleshooting instructions provided with minimal disconnect. Using the Metaverse, where customer support takes place in a virtual environment, eliminates the need for physical contact, and the use of AR tools and the customer’s device camera helps to more effectively pinpoint and troubleshoot the problem. As a result, metaverse tools undeniably can help everyone solve issues faster and in a more effective manner.

How to provide Metaverse Support?

It is yet to be determined how companies can effectively provide customer support within the metaverse. For customer service departments, the metaverse represents a new type of online presence and requires a shift in approach. Similar to having employees available in a physical store, companies will need to schedule staff to interact with customers in the metaverse, or have staff ready to take over from automated avatars. In any case, communication in the metaverse will likely involve a variety of modes, such as talking, messaging, and sharing visuals, which could lead to faster problem resolution.

For example, Helpshift’s Metashift product enables mobile game developers to offer customer support within the metaverse by giving companies the ability to let users give feedback and report bugs within the app and augmented reality experiences.

Tips for Managing Support in Metaverse Projects

Managing support in metaverse projects can be a complex task. It involves dealing with a wide range of technical and non-technical issues, as well as a diverse community of users. Here are some tips that can be useful:

1. Establish clear guidelines and policies: To ensure acceptable behavior within the metaverse, communicate your expectations to users and set up guidelines and policies. Clarify what types of activities and content are allowed, and the consequences of breaking the rules.

2. Build a strong community: Encourage user engagement and participation by providing opportunities for users to connect, share ideas, and collaborate. A strong community can help self-regulate and provide support to each other.

3. Provide multiple channels for support: Offer multiple channels for users to get help, such as a forum, a help center, or a live chat support system. Consider creating a bot chat that asks common or necessary questions before transferring the conversation to a human representative.

4. Hire a dedicated support team: As your project grows, you may need to hire a dedicated support team. They should be trained to handle technical and non-technical issues, responsive, empathetic, and patient when dealing with users.

5. Be transparent: Be transparent about any issues in the metaverse, and communicate openly and honestly with users about how you’re resolving them. This builds trust and confidence in the community.

6. Continuously improve: Gather feedback from users and analyze metrics to understand what is working well and what needs improvement in your support strategy. Implement necessary changes and consider implementing a CSAT.

7. Be prepared for scaling: Create a plan for handling large numbers of users.

Artykuł Managing Support in Metaverse Projects pochodzi z serwisu LEOCODE.

The Workshop and its Outcomes

One method of successfully gaining security token funding is to conduct a workshop session with the client which usually lasts for 1 or 2 working days. There are several important aspects that need to be discussed over that time in order to offer clients a tailored-made solution for their MVP project.

Here is the comprehensive list of the main aspects which need to be covered and which will be included in the post-workshop document.

• Business Model Canvas – This is a strategic management template used to develop new business models or to document existing ones. It visualizes key aspects of the company such as (but not limited to) customer segments, value proposition, key resources and cost structures. It helps to gather and link all the crucial elements into one place and therefore, helps to recognize new revenue streams.
• Working on Personas – During a workshop, we need to define segments of the customers/investors in order to get to know them better and figure out what kind of product will fulfil their needs and relieve their pains.
• Value Proposition Canvas – At this stage, we propose specific features of the web/ mobile app/ business which will respond directly to the customer traits mentioned in the previous point. Creativity is the key factor in order to succeed at this stage.
• Value Effort Canvas for MVP – We know our customers have a limited time and budget. This methodology will help us to extract those features which bring the most value and cost the least. This will consist of the so-called MVP – Minimum Viable Product – but we prefer to call it the Minimum Valuable Product because we outline all of the essential features that will bring value to your future investor from day one.
• Blockchain Platform Proposal – Based on the functional and non-functional demands, as well as the above-mentioned activities, our engineers and architects will be able to choose the right blockchain platform to ensure that the whole process of STO is safe, smooth and efficient. 
• KYC/AML, Custody Services, and Wallets – These are essential services which were mentioned in our previous article [tutaj link do B2]. They all need to be compatible with the chosen blockchain platform, jurisdiction, business needs, and profile of future investors.
• Product Benchmarking – Each product works in a certain business environment and among certain competitors. In this section, we will describe the most successful STOs from your industry and outline the most interesting solutions available.
• Tokenomics Proposal – This describes the behavior of the newly minted tokens among the newly created business ecosystem. It consists of elements like planned inflation/deflation, fees, the amount of the burndown tokens, a reward for the community, the amount of tokens in the liquidity pool, and the token distribution plan.
• Legal advice – This entails basic elaboration of the legal requirements in your specific business case and its jurisdiction.

Essential Competencies for a Successful Workshop

• Fintech Experience – This requires the presence of a specialist who has experience in fintech projects. This experience can be, for example, in cryptocurrency exchange development, wallet for tokens development or cooperation with service providers like custody.
• Developers/Architects – We provide the best specialists with broad horizons and many years of experience in the IT sector (including multiple years in the blockchain sector).
• Designers – They are crucial to the project as they will design a beautiful website and/or application to deliver your investors a great experience when working with your investment products.
• Product Manager(s) – They are responsible for transferring vision into a working product that delivers value and sales to your customers. This person needs to understand the STO process, blockchain technology and be able to communicate both with tech and business partners.

Benefits

After the workshop, the LEOCODE team prepares a post-workshop document with a comprehensive description of the key elements mentioned under the workshop and its outcomes. This will consist of:

• a summary of all activities conducted during the workshop, including:
  • the Business Model Canvas.
  • Personas profiles.
  • Value Proposition Canvas.
  • Value Effort Canvas.
• legal demands to the specific business case.
• proposals for both product and technical solutions which outline elements like:
  • technology.
  • essential integration with 3rd party services and how they will be implemented.
  • a key feature that needs to be developed to deliver value to your investors from day one.
• product benchmarking.
• a tokenomics proposal.

Want to know more?

Still hungry for more information?

Then sign up for our free, 30-minute one-to-one consultation with our specialist to start your security token funding right away. We will discuss the most important aspects of your business challenges and initial solutions for them.

If you have decided already that this is the right service for you, contact us immediately to grab your place and don’t lose any time in setting a date for your workshop exactly as described in the post above!

Author: Boleslaw Kruszewski

Artykuł Security Tokens Workshops for Your Business pochodzi z serwisu LEOCODE.

Funding Dilemma

Having your own company is a great achievement and one which many people are attracted to. In order to design a product or service, you need to invest money at the very early stage of your enterprise. Where can these funds be obtained from? Well, maybe you have your own savings or maybe you rely on the 3 Fs – Family, Friends and Fools. You can also apply for a loan from the bank but in order to get any money from a traditional institution, you need to have a good credit history and a good banking score. 

You could try to contact business angels or get access to VC funds but it is very time-consuming and quite often frustrating to pitch dozens (if not hundreds) of times in front of greedy investors only to end up going through months of negotiations and ending up with less than 50% of your company’s shares.

Of course, there’s always the option of listing your company on the stock exchange but according to PwC, the average small IPO in the US varies between $2.6 million to $13.4. If you haven’t already, go back and have a read of this topic in our previous article for a closer look [tutaj link to łopaty].

How to Get Funded – IPO, ICO, STO and Loans: Pros and Cons

Initially, Security Token Offering was created as an alternative to Initial Coin Offering. Enthusiasts of this solution point to the numerous advantages of STO over ICO which resembles IPO but at the fraction of its costs. 

Security Token Offering guarantees, above all, much greater security than ICO. Where Initial Coin Offering is vulnerable to fraud, STO is secured with funds which largely makes this solution much more acceptable to traditional regulators.

Here is a breakdown of the most popular fundraising methods at the start of your project:

Why Asset Tokenization is a Game-Changer

Blockchain and security tokens are characterized by incredible flexibility when seeking financing. It combines the security of a classical stock exchange (both legal and technological) with a low entry barrier as it is with ICO. 

Here are 5 main highlights of the security tokens backed by blockchain technology:

1. You can digitize most things – from real-estate projects right through to solar and wind farms and even art and jewellery. In other words, literally anything you can call an “asset”.
2. Let retail investors invest in your business. Leverage blockchain technology and split up your shares and divide them into pieces even as small as $100. With 100% programmable smart contracts, you can create cashflow and investment according to your needs. Of course, you still need a qualified programmer but in terms of your business needs, the only limitation is your imagination!
3. Get liquidity from day one. You can list your newly minted security tokens on marketplaces such as Polymath, Swarm, Harbor or tZERO and enable investors (both retail and institutional) to trade your security tokens instantly. You can also decide to build a so-called private pool and enable all trades there which will make you totally independent from any 3rd party services (except the blockchain itself).
4. Another advantage of the digital and decentralized approach to your venture is the fact that your share can be purchased by investors from distant parts of the world and can be traded 24/7. It makes your shares independent of any specific stock exchange’s opening hours and eliminates the issue of inaccessibility because of timezone differences.
5. Last but not least, cost reduction. As outlined above/in this article [Łopata] the costs of a small IPO can be as high as $13.4 million. With the STO, you can reduce this cost several dozen times. Isn’t it amazing?

Type of Tokens, Technologies and Possible Solutions

There are 3 types of asset-backed tokens:

• Equity Tokens – These are a type of security token which work similarly to classical stock. Investors who are in possession of such tokens also have ownership (proportional to the number of tokens) of the equity (usually 3rd party) they invested in. Thus, they are entitled to be paid dividends once the venture records a profit. These tokens can be represented by stocks, futures, or options in tokenized companies.
• Debt Tokens – These are for investments such as real-estate mortgages or corporate bonds. In short, they are loans to a company (token issuer) at a specific interest rate for a given period of time.
• Asset Tokens – These represent ownership of a certain type of asset such as real estate, diamonds, gold, energy, art, intellectual property and so on. Simply put, they can represent a certain value of tangible or intangible objects.

Token Standards and Their Implementations

• ERC-1400 – This was created to specifically deliver security tokens based on the commonly used standard, ERC20, which unifies the standard for all security tokens. It sets the standards for core compliance components, document handling and notification, security token controls and permissions and partial fungibility.
• ST20 – The author of this implementation is Polymath. It consists of a predefined set of rules (such as preset smart contracts) which define who can interact with the contract on their in house blockchain (called Polymash) and how they can do it.
• R-Token – This is another implementation of the ERC-20 standard and it is based on Ethereum blockchain enabling a set of rules and interacting with the so-called Regulator Service to meet the relevant securities regulations, Know Your Customer (KYC) policies, Anti-Money Laundering (AML) requirements, tax laws and so on.

Liquidity Solutions

There are 2 options:

1. Creating your own pool using, for example, white label solutions and enabling investors to buy and sell your security tokens directly on your website. The advantages of such solutions are that you gain independence from any 3rd party (except blockchain itself), there are no trading fees, plus you can create extra income if you decide to charge more for trading as you will have full control over the process. One challenging factor here is providing liquidity as your investors may expect to trade your token from day one. Not to worry though, there is a remedy for this as you can use The Liquidity platform where you can borrow money for just such a purpose.
2. Listing your token on one of the most widely used STO platforms such as tZERO, Polymath, Harbor or Swarm. They provide liquidity for your tokens and easily integrate with the token standards mentioned above. It is important to bear in mind that this is a 3rd party software and trades may be subjected to fees.

Why Does STO Need Top-Notch Experts?

Although Security Token Offering sounds like an appealing way of achieving great success, it requires consultancy and a dedicated group of experts to pull it off well. There are three basic fields of expertise that are key elements when it comes to crowdfunding with security tokens.

1. Marketing – You will need someone who knows how to attract the attention of the people who will be interested in investing in your venture and are at least somewhat familiar with blockchain technology.
2. Legal and Compliance – It is important that you hire a legal team to avoid unnecessary risks when conducting STO. They will help you with legal compliance under each local jurisdiction. 
3. Technology – There are several good decisions to be made when it comes to choosing the right tech in order to secure your business and the business of your investors.

At the very beginning, choosing the right blockchain platform is crucial. Basically, there are two main options: public or private. Private blockchains tend to serve corporations in certain business industries better when those businesses operate under highly regulated legal requirements. In order to join their technology, you have to meet dozens of legal and accounting requirements. 

On the other hand, public blockchains provide more resilience as more participants in different parts of the globe are engaged in support of the operations on the blockchain. They can often be more flexible and much cheaper as you can skip all the bureaucracy which we have just described above.

Another aspect that’s worth mentioning is the market adoption of a certain blockchain. It is important to choose one which is widely recognized and has a large community as there will be a much larger amount of essential and auxiliary services (such as wallets) where investors will be holding your tokens. 

Last but not least, you need to choose the right token protocol. As a security token is legally approved, it has to meet many standards such as:

• how tokens are stored on the blockchain.
• how they can interact with investors/ 3rd parties.
• whether they enable whitelisting, secondary trading, blocking and burning tokens.
• setting transaction limits.
• carrying out the KYC (Know Your Customer) process.

Conclusion

Although the STO process might seem to be challenging and require a large number of steps to be done with a team of experts, you can reach or even surpass your business goals faster, cheaper and in a 100% legal way! All you need is a reasonable (tech) partner in each field of expertise.

Author: Boleslaw Kruszewski

Artykuł Enable Investors to Buy Your Shares with as Little as $500 with Security Tokens pochodzi z serwisu LEOCODE.

Proof-of-work:

Mining new coins using a proof-of-work algorithm takes a lot of computing power. The idea was first introduced in 1993 to fight spam emails and was formally called ‘proof-of-work’ in 1997. Until Satoshi Nakamoto created Bitcoin in 2009, the proposed solution was mostly unused. Satoshi used the algorithm to reach a consensus between multiple nodes on the network and to use it as a way to secure the bitcoin blockchain. The algorithm works by having all nodes solve a cryptographic task. The first miner to complete the task gets a reward. This causes a situation where people are building increasingly larger mining farms to get bigger rewards. Bitcoin miners alone, use close to 120 TWh of electricity, which is enough to power over 10 million households in the US.

“Hashrate” refers to the total combined computational power that is being used to mine and process transactions on a proof-of-work blockchain, which also gives more rewards to people with faster equipment. The higher your hashrate is, the higher the chance you will have to create the next block, thus recieve the mining award more frequently.

To increase the chances, even more, miners can come together to create so-called ‘mining pools’, combining their hashing power and distributing the awards equally across every miner in the pool. That creates risk and again makes the blockchain less decentralized. Let’s say the three biggest mining pools merge together- they would control a large portion of the network and could start approving fraudulent transactions. 

To sum it up: Proof-of-work uses mass amounts of electricity and it encourages the use of mining pools which make the blockchain more centralized than decentralized. What is the solution? Is there an algorithm equally effective or better than proof-of-work?

Proof-of-stake:

In 2011, ‘QuantumMechanic’ a user of a Bitcoin Talk forum proposed a new technique called proof-of-stake. Instead of mining, it allows people to ‘mint‘ or forge blocks. The new protocol also causes a slight change in terminology as it it has no miners but validators. Proof-of-work uses an election process in which one node is to validate the next block. To become a validator, a node has to deposit a certain amount of coins into the network as a stake. You can think of it as a security deposit in a regular bank. The size of the stake naturally determines the chance of a validator being chosen to forge the next block.

If/when a node is chosen to validate the next block, he will then check if all the transactions within it are valid. If so, the node signs off the block and adds it to the blockchain. As a reward, the node receives the fees associated with the transactions within the particular block. Validators might also lose a part of their stake if they approve fake transactions. As long as their stake is higher than what the validator receives as the transaction fee, we can trust them to correctly do their job. Because of not, they can lose more than they gain. When a node stops being a validator, his stake and all the transaction fees earned will be released after a given period of time.

Proof-of-stake doesn’t allow everyone to validate transactions and to mine for gains so it uses less energy. It is more decentralized as creating a staking pool is less expensive as it doesn’t require mining equipment, allowing more people to set up a node making the network more secure.

Risks and summary:

Although proof-of-stake is not perfect it’s a major upgrade from proof-of-work. If a user is wealthy enough to buy a majority of the in the network, he can approve fake transactions. The procedure is called ‘51% attack‘ and has first discussed as the weak point of the proof-of-work algorithm. If a certain miner can obtain a majority of the hashing power, he can effectively affect the blockchain. Proof-of-stake makes this attack very impractical depending on the value of a certain cryptocurrency (if we convert Bitcoin to proof-of-stake, acquiring 51% would be a big expense- less likely to happen yet still possible).

Another risk that proof-of-stake algorithms have to be careful how they selected the next validator- it cannot be completely random as the size of the stake has to be factored in and at the same time, it is not enough to provide security. The staked amount as the only factor would favor the more wealthy as they would be selected more frequently thus receive more fees enlarging the gap even more. There are numbers of possible solutions to fix this- coin age-based selection for instance. As you might see already, proof-of-work brings additional risks in comparison to proof-of-work and a lot of researches work on minimizing them to furtherly improvee it as a possible future of blockchain and crypto market.

Artykuł Proof-of-Stake vs Proof-of-Work pochodzi z serwisu LEOCODE.