Analytics business Biotron.io has launched its Public Initial Token Event and proprietary BTRN token to drive crowdfunding for its personal data analytics platform. The BTRN utility token will be used to facilitate payment for data between data producers (Biotron users) and customers of Biotron’s analytics products. Biotron closed their private Initial Token Event yesterday having raised a total of 5200 ETH.
Biotron is a fully transparent data analytics platform. It gives users control over what data is being collected and how it is used, and provides customers with datasets and data products of unparalleled quality, giving them valuable insights for their businesses. Its vision is to tear down data silos created by technological giants and enable innovation in various industries.
Organisations like Cambridge Analytica should never have the chance to use people’s information without their consent. Biotron and blockchain are bringing change to the data analytics industry by helping people to control and monetise their personal data. – Pavol Magic – CEO – Biotron.io
Biotron’s public crowdfunding will be held over nine rounds and concludes at 15:00 UTC on the 5th of April 2018. The initial value of the 1 BTRN is 0.10€. Each 24-hour period of the Initial Token Event represents one round. The BTRN value increases by 0.01€ per round. At the final round 9, 1 BTRN = 0.18€.
Contributors can participate in the token event using Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) only. During the ITE, BTRN tokens are created as ERC-20 cryptographic tokens on the Ethereum protocol.* Once the Biotron.io blockchain is launched, the ERC-20 based BTRN will be replaced by the proprietary BTRN. Distribution of tokens will commence on the 9th of April.
To contribute to the token event, participants can begin the registration process at ite.biotron.io and will be required to pass a KYC (Know your Customer) and AML (Anti Money laundering) process in order to be accepted by Biotron. A step-by-step guide has been created for the contribution process and is available here.
* The actual ETH-EUR exchange rate used for each round will be inline with the Euro exchange rate. It will be calculated as a 1-day (24h) moving average of the day and announced daily.