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July 19 2017

ICO Alert Report: BitBounce / Credo

ICO Alert Report: BitBounce / Credo

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ICO Details

Sale Period
July 26, 2017 at 1pm PST to August 25, 2017
The ICO will end immediately if the $20mm hard cap is hit.

Token Distribution
ERC20 token sent to your Ethereum wallet. Only send ETH from a wallet you control. Do not send ETH from an exchange.

Allocation
 40% sold during ICO
 30% User Growth Pool
 15% Company Expenses
 15% Team and Parent Company Shareholders

Total Supply
 1.37 billion Credos

Growth Rate
Fixed supply.

ICO Price
 $0.0145 = 1 Credo

Investment Target
$20 million hard cap

Pre-Mine Amount
 60% allocated to User Growth Pool, Company Expenses, and the Team

Lockout Period
Not indicated by the BitBounce / Credo team.


What is BitBounce?

TL;DR: BitBounce is a new platform that integrates with your email with the goal of reducing spam emails. Any emails you receive that are not on your approved whitelist will automatically be sent an auto-response that requests the user to pay a small fee in Bitcoin to have the message delivered.

BitBounce seeks to leverage cryptocurrency to create a platform that filters against spam and allocates attention of the recipient based on monetary contributions. BitBounce will be deployable on existing email platforms and will set up an ‘Unpaid’ folder to which all unsolicited emails will be routed if they have not enabled an automatic payment feature. These messages receive an automatic response requesting payment or can be authorized through a code provided by the recipient; if the sender agrees to pay the fee, their account will be charged and the message will be delivered to the recipient’s main inbox. BitBounce will also verify accounts of VIP users (like well known consultants or other high level business participants) who will be bound to provide an authentic response (i.e. not via an intermediary like an administrative assistant) in exchange for a higher fee. In the case that a VIP does not respond, the payment will be refunded to the user. Non-VIP members will be able to use a default amount or set their own fee for emails to be routed to their inbox with less stringent response requirements. In addition, plugins for Gmail and Outlook will be developed to ease integration with the BitBounce platform and Credo tokens.

The BitBounce system will use the Credo token as a means of payment and will be used to disincentivize spam emails that rely on high volume and broad distribution with relatively low rates of response to be effective, while also offering legitimate users a significantly more reliable way to obtain a response to their inquiries or other outgoing emails. High value recipients can also significantly optimize where they direct their attention; first by not having to sort through spam or otherwise low significance emails in their main inbox and second by having a first point of reference through a payment that legitimate senders have a message they believe has enough value to be heard. BitBounce will also use Credos in a unique, monitored Proof of Usage system that will reward users for sending their first payment, responding to a paid message, adding more than one email account, referring new users, and other activities that encourage usage and engagement with the platform.


Roadmap

The following derives from the BitBounce whitepaper, and outlines BitBounce’s plans for the future. Note that no dates for these milestones were included in the whitepaper.

  • Improving the BitBounce service through product improvements, recruiting VIPs for email access, customer support, partnerships, etc.
  • Acquiring market share through additional viral growth mechanisms, paid marketing, advertising, PR, etc.
  • Defending against threats via security enhancements, use of encryption, proactive defense against any advanced persistent threats, protecting our trademarks and the IP of our inventions, etc.

Team

The following information was provided by the BitBounce team of their key team members. We were able to verify the legitimacy and accuracy of the information provided.

Stewart Dennis, Co-Founder & CEO
Mr. Dennis is a Stanford University graduate with a BS in Computer Science and the founder of the cloud enterprise services company Turing Technology Inc., under which BitBounce is being developed.

Alexis Roizen-Dennis, Co-Founder & Design Lead
Mrs. Roizen has nearly 10 years experience as a graphic designer for enterprise and mobile applications.

She joined the Turing Technology team in 2015.


What is the metric for the success of BitBounce?

Systems like that being developed by BitBounce have existed before, but none have utilized cryptocurrency to enable the kind of instant payments required to truly integrate into normal (often high speed) email communication. BitBounce has taken care to design the Proof of Usage system in a way that will attract many mid-tier users — those who will find the most value in the both the spam reduction and attention directing features of the platform but are not so exclusive they have little need or desire to be contacted outside of their personal circle at all.

BitBounce has the potential to create a strong network of these types of users and is already experimenting with enterprise partners for ways to design business operations around a BitBounce optimized platform. User growth will also likely be fueled by the significant potential for fighting and even eliminating many common types of spam, likely increasing demand for the Credo token.


Considerations and Closing

BitBounce seeks to combat a common scourge of the modern world while promoting a return to a custom lost to our digital age. Their system will drastically increase the cost to the lowest common denominator while building a system where an audience with a powerful or important person is appropriately arranged through the giving of an offering or gift. The realm of social capital that has been so integral to human interaction and advancement for most of history has been disrupted in unimaginable ways in just a few short generations, and spammers take advantage of streamlined access to some of society’s most vulnerable members through fear or misdirection to generate revenue, with massive externalized cost in wasted time reviewing, managing, and eliminating their messages.

BitBounce now effectively transfers these costs back to the malicious senders in a move equally disruptive to their business model. In parallel, wise or otherwise highly valued members of our society can now use advancements in economic and monetary technology (in lieu of advancements in reputation verification that satisfy both accuracy and privacy concerns) as a guidepost as to where best direct their limited attention. In the long term, it is possible that BitBounce will be responsible for some of the most important connections facilitated in the high velocity world of digital capitalism.

BitBounce website: https://bitbounce.io/

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Topics: Blockchain, ICO, Market Intelligence, Ethereum, Initial Coin Offering