[ANN] IdeaFeX --- Marketplace for Tokenized Real-World Assets [Q&A]

[IdeaFeX]

Since we have decided to move away from cryptocurrency / ICO (while still supporting asset tokenization), we have decided to reduce our presence on BitcoinGarden. Please find more details here: https://medium.com/asset-tokenization/ideafex-adopts-new-logo-updates-social-media-plan-64b326963a31


What is IdeaFeX?
IdeaFeX is the marketplace for tokenized real-world goods & assets: We identify in our economy several sources of inefficiencies in resource allocation, namely inflexible flow of goods & assets, deep divide between financing & operations, and pervasion of "exclusivity". As a solution, we introduce tokenization of real-world goods & assets (that are currently indivisible and/or illiquid) in the forms of product futures & exotic assets. They allow for a range of business model innovations, new investment methods, and new consumption models.


How do we prevent scams?
Our marketplace is fully compliant with all pertinent asset trading, payment, and exchange regulations. This means all users, including fundraisers, pass KYC (Know Your Customer) background checks.


Why are we using blockchain? Is it really needed for a centralized platform?
With blockchain tokenization, we keep the separation between our marketplace and investments made against listed assets. The fundamental ownership and cash flow of these investments will be tenable independent of our marketplace, thus providing extra robustness. Moreover, it makes listing, trading, and exchange much more cost-effective. Therefore, even though blockchain is not necessary for a centralized platform, it makes the most important records of the investments decentralized.


Who can list an asset on IdeaFeX?
Anyone, individuals or companies, can use IdeaFeX to list tokenized assets, so long as they pass KYC (Know Your Customer) background checks and produces audit reports from qualified external parties or certified custodians.


Why do we collect your personal information, and how will we use it?
IdeaFeX is serving in a regulated industry and is required to comply with KYC (Know Your Customer) procedures that prevent terrorist financing, money laundering, and other criminal activities. We are committed to the protection of your personal information and will never sell or exploit your personal information, including usage preferences, for financing gains.


For more informatino, you can always find us on

Twitter https://twitter.com/ideafex_com
Facebook https://www.facebook.com/ideafex

We would love to hear your comments and questions on IdeaFex!

[IdeaFeX]

One question that we get sometimes on social media is this:

How can I be sure you are not a scam?

Our answer is simple:

• We're a legitimate company from France, not some islands.
• We have already sent our Token White Paper to the regulatory authority. [Erratum]Our ICO will be whitelisted before it begins. We have just met with AMF (the French regulators) yesterday. It appears that the "whitelisting" option will only become available towards the end of 2019, due to the fact that the law (PACTE) which prescribes for this being delayed in the senate.[/Erratum]
• Moreover, we'll release a demo before our ICO begins, and we plan to launch our marketplace later this year.

We know that (too) many of the ICOs / STOs today are scams. The clue should be that those projects are very unlikely to be profitable at all by reading into their white papers.

In contrast, our project can be very profitable. We just want to source starting funds & build the user community at the same time using the ICO format.

[IdeaFeX]

We receive some more questions. Here are our answers.

How can we tokenize our assets?

For a startup, a range of assets can be tokenized: business assets (exotic asset), valuable goods (product future), and shares and bonds (traditional securities). The details can be somewhat different.

• The most interesting is perhaps business assets. Suppose you're a startup that needs assets to run a business, perhaps in the form of a factory or a fleet of rental cars. Instead of obtaining a loan or equity-backed investment, you can tokenize these assets before they're purchased. Your custodian will ensure that the funds are not misused; and part of the cash flow generated by these assets will go to reward your investors.
• Another interesting option is if you have a valuable goods, such as fine wine or deep tech products. You can tokenize them and allow buyers to purchase them before they are physically available. This shares many qualities of commodity futures.
• With securities, it's simply an STO.

Are you going to tokenize them?

No. We're a marketplace, which you can consider an intermediary. You as the startup is ultimately tokenizing your assets.

Who will value them?

In short, the market will value them. We introduce a unique auction method. This allows optimal valuation. Details can be found in our White Paper.

What about jurisdictions?

Assets that are not securities can be purchased freely by investors. Assets that are securities, on the other hand, are somewhat more restrictive. As we are inside the EEA (European Economic Area), European passporting allows more freedom. However, the same cannot be said about e.g. USA. For this reason, we will have to roll out our global support gradually.

Please understand that we're launching a compliant marketplace. Our compliance work doesn't stop at running our own ICO --- we need to ensure that all assets types that we support on our marketplace are compliant to the groups of users that we open them to.

[IdeaFeX]

We've received a few more questions:

You have a well-written whitepaper and a detailed technical discussion about your token utility value.
One way to present that you have a well-thought-out project.
However, owed to the reputation of most failed ICO projects, it is very hard now to raise funds via this method.
Is there another option for you to acquire funds other than holding your ICO?

Yes, alternative financing options are available. However, we must acknowledge that another (side) effect of "the reputation of most failed ICO projects" is that it is also harder than before to raise funds without pursuing an ICO if you are working on blockchain-related projects.

At the same time, while an ICO is much more difficult to organize than before and the results are much more lackluster, we can circulate a token (IdeaFeX Token, IFX in this case) that can bring some additional features to our service. We think that this token can help us drive volume and thereby activity on our platform after launch.

With these in mind, we plan on holding our ICO right when we have a demo launched.

What kind of auction method you are going to use?

It's essentially an evolution of Dutch Auction and more specifically what's called OpenIPO (the best known example of which is Google's IPO).

The most important modification is that, like bidding on eBay, the investor can now increase his/her bid.

For more details, I encourage you to read the Features Deep Dive section of the Token White Paper.

What are you going to tokenize on your platform?

We're open to several general classes of assets. They're referred to as Exotic Assets, Product Futures, and Traditional Securities.

In our Token White Paper, you can see that we currently identify the following assets:

• Exotic Assets: Collectibles, Business Assets, Infrastructure, Real Estate
• Product Futures: Inventory, Valuable Goods
• Traditional Securities: Shares, Bonds

For more details, please refer to the Features Deep Dive section of the white paper.

[RomainSs]

Hi, what type of cpin is it?
Security or utility token?

[IdeaFeX]

Hi, what type of cpin is it?
Security or utility token?

Hi, the IdeaFeX Token (IFX) is a utility token. A holder can:

• Use IFX to pay fees on the IdeaFeX marketplace and receive discounts in fees;
• Stake IFX when you list an asset and boost your search ranking;
• Refer others to actively use the IdeaFeX marketplace and IFX, and receive referral awards; and
• Accept IFX when you list an asset and receive further discounts in fees.

At IdeaFeX, we are building a legitimate marketplace for real-world assets. Tokens are designed specifically to encourage usage. Nevertheless, in order to give token holders the confidence, we have a "Token Burn" feature to gradually reduce the total supply. To know more, please read our Token White Paper (section The IdeaFeX Token --- Token Features) carefully: https://www.ideafex.com/docs/IdeaFeX_twp_v1.1.pdf

[RomainSs]

Thank you for reply!

[IdeaFeX]

Thank you for reply!

You're welcome. If you have other questions, don't hesitate to pop them here or in our Telegram group: https://t.me/ideafexgroup

[Abiodun]

Please where can I find the roadmap and the white paper would love to know more about the project.

[IdeaFeX]

Please where can I find the roadmap and the white paper would love to know more about the project.

Hi Abiodun,

Thanks for the question. You can find the roadmap here: https://www.ideafex.com/timeline

And White Paper here: https://www.ideafex.com/docs/IdeaFeX_twp_v1.1.pdf

You'll also find other information about our team on our website, including our social media pages.

[IdeaFeX]

Our CEO, Dr Jiulin Teng shares his view on ICO regulation in a blog:

https://medium.com/@IdeaFeX/ico-the-danger-of-over-regulation-ce454c5ebc49

[IdeaFeX]

Our CEO, @DrJiulinTeng / @DrJLT, shares his view on the issues plaguing venture financing and ICO

https://medium.com/@IdeaFeX/ico-scams-highlight-issues-beyond-crypto-28db801062c2

He points to five issues:

• Lack of international coordination against non-violent crimes
• Opportunism
• Inherent risks in venture financing
• Futility in seeking "tips"
• Malicious competition

[IdeaFeX]

In the last of a four-part series, our CEO, Dr Jiulin Teng, shares his view on how utility tokens can build the community organically through supply and demand. He also shares a valuation model.

https://medium.com/@IdeaFeX/ico-innovation-that-builds-communities-980f7750ab8e

[IdeaFeX]

The CEO of IdeaFeX, Dr Jiulin Teng, elaborates on how blockchain can work better for financing and investment in a 9-chapter series. In the first one, he covers the issue of flexibility in supporting Exotic Assets and Product Futures.

https://medium.com/@IdeaFeX/make-blockchain-work-ch-1-flexibility-243f2d63e4a3

[IdeaFeX]

In the second of the nine-part series, we cover the issue of access to financing and investment:

https://medium.com/@IdeaFeX/make-blockchain-work-ch-2-access-39dab58fbf6d