Description: Connecting dots between cryptocurrency and real world economy.
Start of ICO 25.09.2017 End of ICO 10.10.2017 Hard cap $29,000,000 Raised $10,000,000 (34.5%) Token Sale Price $0.00000 Whitelist / KYC /
Team members are not disclosed, however, the parent company of Metaps Plus, Metaps inc is listed on Tokyo Stock Exchange and is currently worth $432 million.
Metaps Plus, the issuer of PLC, is a FinTech company which runs the largest application marketing reward platform NAS (trade mark registration no. 4012646300000) in Korea, with 300 thousand daily users. Metaps Plus sells mobile vouchers on 300 channels including Kakaotalk, ONE store, Facebook, and Naver Band etc. through its subsidiary Smartcon, and also owns infrastructures usable online and offline, such as POS (payment method, not stock certificate) equipment in all offline affiliate stores including BBQ, Megabox, and E-mart, and also major point program businesses such as L.point, OK Cashbag, GS&POINT, and BC card. Transactions through Smartcon amount to KRW 100 billion every year in Korea, in 34,000 affiliate stores.
However, the company does not have any prior blockchain experience that we know of.
The idea of using the new coin to connect their services such as their advertisement network, payment system for mobile coupons and the to be opened exchange CoinRoom seem like a viable plan to bring together different services with a single underlying coin. We believe the idea has a potential if executed well.
Their underlying services such as advertisement network and payment system for mobile coupons already exist and the payment system reportedly has 300,000 users in Korea. The coin itself and the exchange CoinRoom are still under development and are to be launched in 2018.
Business model relationship and value flow:
The company is developing API system, with which stores will be able to join the mobile coupon network and users will be able to use their PLC coins to obtain discounts and coupons. The Money Point platform will be used for points collected through compensatory advertisements to be exchanged into cryptocurrencies through the CoinRoom exchange.
Function/utility of the token:
From the website:
Coin is an interesting way to connect crypto currencies with their real world services. Couldn't do it with Bitcoin/Ethereum.
- 137 commits, 6 branches
Bitcointalk thread not active.
Plans are clearly defined and can be measured.
Plans for listing:
Will be listed on their own exchange Coinroom.
- South Korea
- Already an established company
Distribution of tokens:
- 70% of the coins will be available for token sale.
Lock up period:
- 12 months
- CoinRoom exchange will be designed as an infrastructure with networks separated according to the Personal Information Management System (PIMS) and Information Security Management System (ISMS) managed by the Korea Internet & Security Agency, and will make hacking impossible by introducing a with-drawal process with multifactor authentication and a verification mechanism for PlusCoin token owners regarding their ability to pay. No data disclosed about the security plans of ICO.
Plans for audit:
- Yearly audits will be conducted on documents relating to coin publication (such as publication and distribution of coins, smart contract codes, etc.) and the financial statements of the exchange market by one of the four largest auditing firms, and relevant audit reports will be posted on the exchange market website.