August 17, 2017 Singapore
AICoin, a new type of investment vehicle that works as a collective combining the power of artificial intelligence with the wisdom of the crowd is nearing the close of its ICO subscription period.
The Collective follows an investment strategy that provides profit potential from two interrelated revenue streams designed to accelerate return on investment. The first stage uses the funds collected during the ICO to make short term trades in multiple cryptocurrency markets using proven artificial intelligence models. The second stage takes trading profits and makes seed investments in promising young companies in the fields of artificial intelligence and blockchain. These investments can be taken in the form of a traditional equity stake or in the purchase of ICO tokens.
As part of the governance process, an Investment Board will be created. The primary responsibility of the Board will be the preliminary review of investment proposals presented to the Collective for funding. Their goal will be to narrow the number of proposals down to no more than five every quarter. These finalists will then be presented to the token holders of the Collective to vote which of the proposals will receive funding that quarter.
The Investment Board is made up of five members; two appointees’ will be selected from the developers of the trading models (First Global Credit). One appointee will be an independent representative with knowledge of the world-wide start-up market – Jon Matonis, one of the original founders of the Bitcoin Foundation has agreed to take on this role; and two appointees’ will be elected from the population of AICoin token holders.
Any AICoin token holder is eligible to put themselves forward as a board candidate. To fulfill their duties they must have the time needed to review proposals presented to AICoin. The board will engage in online meetings to discuss the merits of the individual proposals and jointly come to a decision on the opportunities to be presented to the Collective.
Some token holders have already stated their intention to apply for board positions and the process will commence directly after the end of the subscription period. Candidates will be provided with a forum where they can present their qualifications and state why they would be good candidates to become an integral part of the start-up selection process.
There will then be an on-blockchain election where token holders vote for the candidate they favour. Following the vote, the candidate with the highest number of votes will be appointed for a two year term and the candidate with the second highest number of votes will be appointed for a one year term.
After the initial candidates are elected there will be follow on elections every year for one of the two posts.
All token holders are entitled to apply for a board position. To apply send an email to [email protected] with the registered username on the site. A full list of applicants will be compiled before kicking off the formal process two weeks after the close of the ICO. The vote will take place 2 weeks later using the smart contract voting mechanism.
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