Jun 18, 2019
Problem StatementMining is a fundamental part of the blockchain for any coins or tokens that aren't pre-mined. Miners form the basis of the decentralisation model of the Cryptocurrency arena but we are getting to a point where large amounts of hash power, the key ingredient to solving blocks and securing the chain, are becoming centralised.This has two impacts:1. It means that there is a risk of a single pool or company being able to gain control of an entire blockchain. If a person or company managed to gain greater than 50% of the computing power or mining hashrate they would be able to prevent new transactions from gaining confirmations and be able to reverse transactions that were completed while they had control so they could double spend coins. They wouldn?t be able to create new coins or blocks but it would have a huge reputational impact on the particular blockchain.2. It means that for the average person mining isn?t a worthwhile venture due to the cost of equipment, electricity and time for maintenance. The ROI isn?t as beneficial as it used to be.There are other solutions out there such as cloud mining services but they aren?t transparent or cost effective and we want to change that.MinedBlock offers the opportunity for investors to purchase our ST20 Security Token which is a digital asset backed by a corresponding Preference Share in MinedBlock Holding Limited (the Special Purpose Vehicle) that enables holders to receive a revenue share produced by our mining farms. Collectively, MBTX token holders will own 95% of the Special Purpose Vehicle and the associated costs and revenue so, therefore, will receive the revenue share each month based on the profit generated. Revenue will be shared respectively and equally between all token holders on a ‘payout per token’ model.Each MBTX token sold will represent 1 Preference Share A in MinedBlock Holding Limited.Shareholder rights:“Each Preference Share A holder will be entitled to a share of revenue produced by 75% of the total Mining Service. Shareholders will also have the right to vote on the future expansion of the Mining Service”MinedBlock Limited will assume responsibility for maintaining, replacing and expanding the physical assets and will remain responsible for any costs incurred beyond that of the revenue generated in the unlikely event the service becomes unprofitable. At no point will token holders be expected to cover any losses if this did ever happen.All expense and revenue information for each month will be available for review by any token holders to ensure full transparency of the total managed Mining Service. All Wallet addresses owned by the Company will be published within the Investor Dashboard to give full visibility.Token holders will be able to ‘vote’ for the direction of future expansion from within the Investor Dashboard when it is life. The term ‘vote’ in no way reflects a right to direct the company itself but will allow input into how the Mining Service is expanded.Security Token OfferingSecurity Token sale participants will be required to pass KYC (Know Your Customer) checks via our Website to enable whitelisting within the Smart Contract. To satisfy the requirements of the US Securities and Exchange Commission (SEC); US investors will need to qualify as Accredited Investors.The cost for KYC and Accreditation checks will be passed to the investors at our cost price, upon successful completion of the required checks you will be credited with the equivalent number of MBTX tokens at a discounted value of $0.075 each. This is to ensure only serious participants go through the process to reduce the unnecessary cost for the Company.
“Our vision is to become a major player in the cryptocurrency arena and for MinedBlock to own a significant part of the infrastructure required to process transactions and mint new crypto assets. This will enable our investors to reap a significant return on investment while we employ an aggressive growth strategy to position ourselves as the ‘Amazon’ of the crypto mining industry"
Attention. There is a risk that unverified members are not actually members of the team
$1 335 426
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