Written by Mike Finch

Co-Founder and COO — ICO Alert
December 24 2017

ICO Alert Report: Qurito

ICO Alert Report: Qurito

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ICO Alert Quick Facts

  • Platform for anyone to discover, gain and share their ideas and knowledge (+ rewards)
  • ICO ends January 8, 2018; 1 QURO token = $0.10
  • 1,000,000 token bonus for the top 5 investors
  • Tokens are burned over time
  • Full platform release expected in less than a year from ICO close

What is Qurito?

Qurito will be an intelligent platform that consolidates the many outlets used for asking questions into a single shared blockchain database. This platform aims to create an incredibly engaging user interface, more so than the rest, as well as a unique rewarding system that makes our platform so unique. This innovative rewarding system solves many questions and concerns and we are eager to start paying people for being curious. It is essentially a variation of Quora, Stack Overflow, and Survey Monkey, but on steroids, meeting the reward system of Steemit. Our goal is simple, we hope to provide a single consolidated database where learning and sharing information can be fun, productive and rewarding. We are dedicated to the cause, and won’t stop until the platform is ready.
— Parker Russell, CSO & Operations Head

Q&A with Parker Russell CSO and Operations Head

ICO Alert: How does the Qurito token (QURO) function within the platform and why is it needed? Why did Qurito partner with the Waves platform?

Parker Russell: The sole purpose of the QURO is to be a transferable asset between the Qurito (an even more divisible currency that can only be used on our platform) and any other currency that can be used to buy QURO’s (BTC, ETH, etc.). It is essentially the only way to use the platform if you wish to pay for featured questions to be answered, which may cost money. Otherwise it is a free platform.
The question of whether or not to go with Waves was a difficult one. Our goal was to choose the platform that would provide us with future success, and after doing research and testing, we went with Waves. The only other option we strongly considered was Ethereum, but we felt as though it was becoming too bogged down (scalability concerns). Also, we were not ready as a team to learn a new language (Solidity) for developing unless we absolutely needed to. Yes, Ethereum has a much higher chance of becoming the most widely adopted platform, but we feel as though Waves is a strong competitor. Waves is the unheralded champion that will start to become more widely adopted over time, and if not, our codebase can be easily integrated onto a different platform. We also love the Waves DEX, something that is very unique to the platform.

ICO Alert: How is Qurito different than other knowledge sharing projects that have been announced/launched? Does it have advantages?

Parker Russell: Simple, user interface (UI) and an innovative reward system. We have yet to find a competitor that pays its users money for contributing with quality content. Also, our aim is to produce an amazing platform that puts the rest to shame. We hope to produce a UI that is easy to use, but engaging enough to make users want to stay active.

ICO Alert: What are Quritos and what can users spend them for on the platform? Why are users incentivized to pay for features in a world of instant gratification/answers on mainstream search engines?

Parker Russell: Quritos are a more divisible means of currency that are solely used on the platform and nowhere else. The option to pay for features is just that, an option. The entire platform is free to use without ever needing a single QURO or Qurito. However, there are some ways you can use the Quritos in your benefit, such as a sponsored question promotion.

ICO Alert: One of the biggest challenges for Qurito will be to achieve a network effect on the platform. Is there a minimum number of users the team is aiming to reach, and what marketing is going to be done in order to raise awareness about the platform?

Parker Russell: I actually have to disagree with you here, especially within today’s society. The “network effect” may be easier to achieve than believed. It only takes one celebrity, or one popular blockchain advocate/enthusiast to believe in our platform for this effect to start. Not only that, but we are not in a rush at all. We believe in slow organic growth and that is what I have been telling the community for some time now. Yes, we could spend all of our time and resources on marketing like many of these other platforms that never end up producing anything, or we can focus on what is most important: development and community relations. Ideally, we would like to have everyone using our platform, but that is unrealistic. For now, we are happy to have any participation, and even happier to pay those who willingly participate and contribute.

ICO Alert: How will the iOS and Android mobile app function? When is it expected to be launched?

Parker Russell: We are only focused on the main platform as of now, but we plan on testing the mobile applications as soon as possible. There are currently no known dates regarding this.

ICO Alert: A major problem that Qurito is solving is the quality of content on other knowledge platforms. Other than rewards for those contributing knowledge, is Qurito filtering ‘bad’ content or applying any controls to ensure all content is high quality?

Parker Russell: Although this is a difficult task, it is something we will keep testing until we get it right, as it is one of the core foundations behind the project. First, you must identify and determine what ‘bad’ content is. If by ‘bad’, you are referencing inaccuracy, then yes, bad content will be filtered. For the simple fact that we offer a reward system, this will be addressed. If something is obviously inaccurate, it won’t be given attention (money), which will cause it to vanish over time. We haven’t set this in stone quite yet, but if something doesn’t earn money, or has a negative balance (another possible feature we may implement to mitigate spammers) for a given period, it may be deleted. If something is accurate, more people will migrate to the data, which brings more analytical eyes to that data. These analytical eyes will double check the integrity of the data and decide whether it has validity and reliability. This essentially ensures that the data remains accurate, even over time.

ICO Alert: How much can someone make for contributing their knowledge if they did it for multiple hours a day?

Parker Russell: That is to be determined. It will vary on many underlying factors that have not been identified quite yet due to the token sale still being in progress. All I can say is that it will be worthwhile to participate, especially when comparing it with other preexisting platforms that have tried this approach (Steemit, for example).

ICO Alert: As a non-Qurito question we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?

Parker Russell: The sky is the limit honestly. Blockchain technology has proven that it has a future, same as digital currency. I honestly think we are moving away from all physical currency all together. Maybe not 3–5 years, but possibly as soon as 10 years down the road. Also, people will always be curious which gives Qurito a future. We feel as through our platform will be that number one place to ask any and all questions, especially for those who want passive income doing so. If all goes to plan, we see multiple platform integration in our future as well.

Pre-ICO Information
The pre-ICO ran from October 19, 2017 to November 30, 2017 at a price of $0.05 per QURO token.

ICO Information
The ICO is now live and ends on January 8, 2018 at a price of $0.10 per QURO token. In order to participate contributors must register here. Once registered contributors will receive an email for confirmation and will be redirected to the Investor Dashboard. Go to the “Buy QURO’s” section, where you can contribute Bitcoin, Ether or Waves.

There is a minimum contribution amount of 1000 QUROs ($100) and a maximum contribution amount of 5,000,000 QUROs ($500,000). The top 20 investors at the end of the ICO will be invited to the Prime Investor’s board. These contributors will receive the following bonuses:

Token Distribution Information
Tokens will be distributed after the ICO closes. There are a total of 600,000,000 QURO tokens being created with 250,000,000 QUROs available across the pre-ICO and ICO. Any tokens not sold in the pre-ICO will be sold in the ICO and any tokens not sold in the ICO will be burned. For every token that goes unsold and is burnt in the Token Sale, a matching amount will be burnt in the platform wide token allocation.

The allocation of all tokens is as follows:

41.6% (250,000,000 QUROs): Pre-ICO and ICO
41.6% (250,000,000 QUROs): Platform wide utilization (used for platform over time)
13.3% (80,000,000 QUROs): Developers and foundation building
3.3% (20,000,000 QUROs): Promotions, rewards and bonuses

Roadmap
January 2018: Platform development begins

June 2018: Platform release in beta version (for testing). Investors registered in the beta testing program will be invited to join.

August 2018: Final platform public release

Use of ICO Proceeds
Proceeds from the ICO will go towards legal fees, marketing, infrastructure (internal and cloud-based), partnerships, testing/research, conferences, and more.

Team

Ashish Borana, CTO
Ashish drives the development team at Qurito with years of proven experience in various web technology domains.

Social Media
Telegram Announcements
Telegram Group Chat
Facebook
Twitter
Bitcointalk

View the Qurito Website here.

View the only comprehensive list of active and upcoming ICOs here.

References
(1) Qurito Website, Qurito, 2017
https://www.qurito.io/

(2) Qurito Whitepaper, Qurito, 2017
https://qurito.io/qurito_whitepaper.pdf

Topics: Blockchain, ICO, Cryptocurrency, Crypto, Knowledge