SwissBorg (CHSB) — ICO Alert Report
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ICO Alert Quick Facts
- Switzerland based wealth management service
- 0.10 Swiss Franc = 1 CHSB token
- December 7, 2017-January 10, 2018
- 625,000,000 total available / 1,000,000,000 total supply
- $11,000,000 currently raised; team comprised of 90+ years of investment experience
What is SwissBorg?
In a nutshell, SwissBorg is an investment platform for the crypto generation built by investment professionals. Our investment team is combining its 90+ years of experience from top investment firms with smart contracts technology to build the new future of investing.
While cryptocurrencies are a brand new and rapidly growing asset class, investment strategies used in traditional asset classes can be applied to successfully manage portfolios of cryptocurrencies.
— Anthony Lesoismier, CSO
Q&A with Anthony Lesoismier CSO | Jeremy Baumann Head of Discretionary
ICO Alert: How does the SwissBorg token (CHSB) function within the platform and why is it needed?
SwissBorg: A core feature of the CHSB Token is giving holders the ability to choose the direction in which the network will be developed. The CHSB token is used to generate a referendum token, called the “RSB token.” For each decision, the RSB token is used by the holders to make decisions on the referendum proposals. The voting power will be weighted based on the amount of CHSB tokens users hold at the time of the referendum announcement and it will not cost any CHSB tokens to vote.
The type reward will depend on the type of referendum. ETH, CHSB, or ERC-20 Tokens can be offered during referendums. Inspired by the open protocol philosophy, SwissBorg is leveraging on a new type of open protocol utility: “proof of meritocracy” to revolutionize the wealth management industry.
ICO Alert: In your whitepaper you discuss the possibility of cryptocurrencies evolving into a new asset class. Can you discuss this claim further and describe how SwissBorg will benefit from this progression occurring?
SwissBorg: As shown on the graph above, for the cryptocurrencies space to scale to the size of the dotcom bubble, widespread adoption will be needed.
It is still difficult for both retail investors and institutional investors to get access to the cryptocurrencies market as they simply don’t understand what a wallet actually is; yet there is an ever growing demand of crypto asset investment solutions.
2017 allowed cryptocurrencies to be recognized as a new active class of asset. Nevertheless, due to the technical obstacles related to the purchase of cryptocurrencies, very few people hold crypto money.
There is no less than the demand for this new active class is in constant growth. In positioning itself as a pioneer in the field, SwissBorg counts on capitalizing on the gap between the strong demand for investment products in cryptocurrencies and the very few solutions available currently.
ICO Alert: What are the problems currently facing the wealth management industry? How will SwissBorg and blockchain implmentation solve these issues?
SwissBorg: Most of the time, wealth management is reserved for an elite clientele because of the relatively high cost of operations. In using smart contract technology, SwissBorg is able to offer a large number of wealth management services.
Wealth management experts use relatively unsophisticated products with very little customization for individual clients. There again, smart contract technology allows SwissBorg to create tailored investment products that are personalized and accessible to every client.
ICO Alert: Describe the “Proof of Meritocracy” model you have based the governance of the SwissBorg platform on. What keeps certain individuals or groups from manipulating/monopolizing the voting system?
SwissBorg: We believe, in the principle of “self-governance,” and if we cannot prevent such a phenomena, in the same way as any open protocol, we are sure that the unevenness cannot last forever.
It is in the interest of blockchain, to reach a natural balance and system to the central controlling organization exposing the inefficiency of the system that tries to regulate too much.
ICO Alert: Holders of the CHSB token will have exclusive access to additional products, services, and bonuses within the SwissBorg ecosystem. Can you detail some of these products or services?
SwissBorg: As the platform develops, the spectrum of products and exclusive offers becomes bigger and bigger. For example, new index tokens will be regularly created according to demand & our assessment. CHSB holders will have a privileged access and advantageous pricing for subscribing to these products. Another example could be in payment solutions. A CHSB holder could hold a card with fewer fees or with more offered services.
ICO Alert: Potential regulation seems to be on the horizon for the entire cryptocurrency industry. You have a stated goal of being regulated in multiple countries, can you tell us which locations you are specifically targeting? Why is this an important step for the viability of your platform?
SwissBorg: The legal development is one of the most important aspects of 2018. We aim to become 100% regulated in Switzerland, of course, but also in Europe. These two arenas are our priority.
In order to achieve this, we have been making progress and are already in discussions with qualified authorities in Switzerland.
For the EU, we are currently in the process of studying the different possibilities for achieving regulation in the Union. We will inform the community as soon as we have completed our discussions.
ICO Alert: The Ethereum network has occasionally suffered from slow transaction times. Is there any concern that this may affect the SwissBorg platform?
SwissBorg: The Ethereum network is far from perfect, but we should not forget that we are in the very beginnings of this technology. We continue to have confidence in the future development of this blockchain, both in terms of innovation and in terms of better growth and security in the future. In connection with SwissBorg, we must realize that it was not the network itself that was paralyzed, but that it was hit with high density traffic. To avoid being blocked, it is enough to pay a little more “gas” (commissions), and its impact could be zero. Nonetheless, we are evolving in an as of yet imperfect system and are aware of its limitations.
ICO Alert: As a non-SwissBorg 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?
SwissBorg: We believe that the ICO space will evolve to a more regulated place as well as the entire crypto space.
We believe that better structured, more professional ICOs will take place. We will see the emergence of new standards brought by regulators and investors.
For the cryptocurrency space, the same dynamics will apply as more regulation will mitigate the space. We see this as being positive as it will open the access to retail investors and allow cryptos to become an entirely separate asset class.
Therefore, we see the space maturing in a more professional, stable, and sustainable way which can only benefit everyone.
As a pioneer in this new decentralized financial reality, we are confident that in 3–5 years from now, SwissBorg would be counted as part of the world leaders in the wealth management industry.
The main ICO began on December 7, 2017 and will end on January 10, 2018. There are a total of 625,000,000 Swissborg tokens (CHSB) available during the main ICO, representing 62.50% of the total CHSB supply. A hard cap of 625,000,000 CHSB is set for this period.
0.10 Swiss Franc = 1 CHSB token
10% Token Bonus for remainder of ICO
Current accepted currencies for Swissborg include ETH, BTC, XRP, BCH, LTC and fiat.
Swissborg is an ERC-20 token, so it’s important that contributors use ERC-20 compatible wallets to send funds to the ICO smart contract and to receive the Swissborg tokens.
All CHSB token holders will have the opportunity to participate in the development of the SwissBorg network through the concept of “Proof of Meritocracy.” The community will be rewarded by voting on the most promising projects of SwissBorg’s platform.
Token Distribution Information
There are a total 1,000,000,000 CHSB tokens being created, with 625,000,000 available during main ICO.
Contributors will have their tokens distributed on January 31, 2017. Visit the SwissBorg website for more information and the contribution address.
Use of Crowsale Proceeds
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View the Swissborg website here.
View the only comprehensive list of active and upcoming Initial Coin Offerings (ICOs) here.
(1) Swissborg Website, Swissborg (2017)
(2) Swissborg Whitepaper, Swissborg (2017)