The project Smart Startup Token has been founded by Simon Krystman, who is a technology and social entrepreneur with the goal of giving opportunities to ordinary businesses to get blockchain security support easily. The main purpose is to have a smooth platform for trading that can take place between startup companies and other SMEs easily.
How Does It Work?
It allows established companies and markets to benefit from the smart contracts that this platform offers. This is done via automated agreements that can transfer money for the goods and services provided by businesses. It will eventually make way for a decentralized marketplace where business can be conducted through the use of smart contracts which will regulate the rules of trade.
Even small businesses will be able to buy multiple smart contracts that may be used for financing operations as well as for trading agreements. These contracts can also be used for equities which the users may take part in as well as for lending purposes like Funding Circle and CrowdCube provides.
Information About the ICO
- The goal for fundraising: Soft cap at 90 million SMRT and hard cap at 210 million SMRT
- Tokens accepted: ETH
- Crowdsale date: 2018 (Q4)
Offers Smart Startup Solutions
Most small businesses go through funding and financial problems as most lending institutions do not want to lend to a new company and startup companies have to go through lengthy processes. The Smart Startup Token has been invented to solve such issues by giving a chance to small businesses to have access to some serious funding through the possibility of using smart contracts. According to the investors, it is like a vending machine that can give users pre-designed smart contracts and then distributes them.
What the users must do is simply choose a template, pay for it via the token and receive the smart contract. In case a user is unsure about what to do, there are smart contract experts who may help them with the process.
It acts as an interface for the users where the templates can be changed into usable contracts. The plan of the SMRT project is to create a workable and useful ecosystem for new startup companies as well as for small businesses so that they can use smart contracts which can be enforced automatically.