SOCIALPOLIS ICO (SPL coin)

About SocialPolis Coin ICO (token sale)

SOCIALPOLIS ICO – SPL coin is the idea of the creation of a coin as an answer to the need of an alternative financial transactions system using Blockchain technology for the social and sustainable development economy. Obviously, any mining activity by Coops or their unions will not be easily accepted as their development grows. As so, 60% of their profits will be used to buy SPL Coins to reinvest within this financial sector, mainly through their Credit Unions. These mounts of digital coins will then be distributed within this sector either for B2B VAT free transactions or to offer free services or goods to communities (e.g. donations).

In parallel, as major non-social economy Enterprises offer similar returns to societies through their Social Responsibility Programs (usually tax free up to 5% of their revenues), the use of SPL Coin for such a “Solidarity” purpose is expected to keep its demand high. Nevertheless, it will not be allowed to use SPL Coins for B2B purposes unless the other trading part is a coop.

In parallel, up until now, most of the funds and goods offered to relief citizens or refugees are centrally controlled by Public or International Organizations and NGOs. As a result, the cost of the humanitarian relief aids programs is kept high, whilst corruption problems are reported. As a result, there is not any reliable tool or system available to monitor the logistics of goods or the distribution of funds to the targeted beneficiary.

The idea is to offer a certain number of SPL Coins to the final beneficiary of the humanitarian aid in the form of tagged coupons. NGOs or other organizations will be responsible to distribute such “coupons” to citizens or refugees according to the value of the available funds or goods offered by donors.

The SPL Coin will be introduced and circulated through six different financial application areas such as:

1. The International Solidarity Activities
2. The Social economy coops as a tool to support Social Responsibility Programs of non-Social Economy Enterprises of the private and the Public sector in EU
3. The economies of small islands located in the Greek Archipelagos
4. As a development tool to support a land development project towards a new Smart City in Greece (AGORA City)
5. International development of e-work
6. As a new way to attract and promote volunteer workers on the above application areas into Social and Solidarity Economy in EU.

SOCIALPOLIS ICO COIN (SPL token) system

The estimated value of the SPL Coin project is closely dependent on the real values of the 6 different financial areas of application, as described earlier. The mix of areas of application of SPL Coins has been chosen to:

• Protect the investors in SPL Coins from financial risks related either with the crypto currency economy or the real economy’s financial sector applied. This is achieved with the choice of a mature technological Blockchain solution and with the choice of the social economy sector which has as a high priority the trust and transparency offered by the SPL Coin.
• Provide flexibility to SPL Coin’s holders (Coops, Enterprises, NGO, or individuals) in their financial transactions within the Financial Areas defined. Immediate marketability through exchange platforms but also necessary to serve domestic trade within the social economy sector.
• Minimize the investment risks in SPL Coins.

As the number of issued SPL Coins will remain constant throughout the whole of its life cycle (200.000.000 Coins), the value of the project is reflected only by the expected value of each SPL Coin, as created through the demand/offer laws.
The initial value of each SPL Coin, at the moment of introduction is defined to 2€. This price is reflected in the internal value of the VMS as it emerges from the economic projections.
The expected number of daily transactions through SPL Coins is expected to reach 100.000 in the second year following its introduction in the market.
Following the expected values of SPL Coins creating economic results of Blockchain Open Technologies, the initial price of 2€/SPL Coin is considered as a fair and correct value to start with.