The Concept of "human intelligence tokenization"
By minting each entrepreneur on the platform their own personal, creator tokens (expressed as YTN_creatorname), YouToken discovered a way for early-stage entrepreneurs to literally sell their ideas to investors in exchange for starting capital on their project. In return, investors get a chance to capitalize on a young creator at their earliest stages of success. In addition, the platform offers four unique smart contract options (donation, debt, revenue share and equity) giving investors more diversified opportunities in their strategy.
Option 1: Donation & Sponsorhip Smart Contract
If you’re using the YouToken platform, then this really couldn’t be easier. With the donation/sponsorship smart contract, you can choose to support Elon Bezos directly by purchasing his personal tokens (YTN_elonbezos) at a low price.
If the idea becomes successful, then his personal tokens (YTN_elonbezos) will grow in price. It’s just like stocks on the stock market. The more successful a company is, the more valuable their stock becomes.
Please answer the following questions to complete the task:
What are your thoughts about our idea and solution for early stage entrepreneurs on seeking investments?
What advantages and difficulties our project maight face? And what should we improve for the success of Youtoken project?
While ETH is not a security, tokens that offer dividends are and will be treated like securities under law, which makes your business model into a tax evasion or money laundry scheme right now. Once the state starts regulating security tokens most of the start-ups will probably choose this way of fund aquisition, so your idea is not that far off the mark, just a bit ahead of its time. Another thing you may want to reconsider is token naming scheme as YTN_whatever won't work at all.
I love this idea! - I am one of those people who has many ideas, yet no way I could possibly implement them. The question I have is how much do the ideas need to be fleshed out and thought through before they would be worth actually selling as a token? Isn't this just like kickstarter or gofundme? I think you would need to think through the legalities - as Randy Tice mentioned - as well as the approach to this. I can see this being a very volatile platform if not properly thought through.
Good luck my friends. I think u can do all if u want to do it.
I'm really sorry, but personal tokens (like the example you gave: YTN_elonbezos) are not like stocks on the stock market at all. Stocks are literal pieces of the company that you own. I looked into your whitepaper and saw that Option 3 and 4 of your smart contract options (Revenue Share and Equity) are similar to stocks as you can get paid dividends. However, I feel that the nature of human intelligence that you are trying to tokenize is fundamentally different than a company that can produce quarterly reports full of quantifiable data.
Another major challenge I can see, is that the personal tokens are clearly meant to operate as a security. I saw no mention of this and how you plan to navigate laws surrounding securities. Unless you address the legal ramifications of having tokens represent the overall value of an individual's intelligence, your platform and exchange will have serious long term difficulties that can become impossible to overcome.
good idea. Very in due time. I hope your work will bring benefit to consumers. And to you good luck.
Interesting idea you have, to create a way to tokenize entrepreneurs.
However having read the white paper it leaves me with so many questions. It says you buy tokens of a potential steve jobs for example. How do these tokens accumulate value after one project. Let's say he wants to start a new one? how does he get funding? Why would someone buy the tokens from you after the project is finished. I don't see how you want to capture that value in a token. For example if the guy you invested in goes to big succes. Will he forever be bound to the tokens? even if he doesnt want to be?
Another thing that worried me were the tokens sold at 1 cent, as you intent to raise the price to 10 cent? thats 10x in value, but nowhere is stated how many there were already sold. For every investor this could be a big worry as i have had a couple of ico's i saw plummit by the bonusprice other buyers paid directly after the ico they dump their coins and main sale investors are left with the devaluation of their tokens they bought at full price.
Having told my concerns i think the idea is very good to give chances to the young to create and find money to fund this. I hope you will give transparenty about the tokens and give more info on how you want to achieve that idea.
You already stated this to be a security token, so you are well aware of this. I believe this is a good thing because you have thought about the legal matters it's going to bring. I also see you have thought about the legal side of things looking at the legal section in your whitepaper.
Another difficulty was already in my questions. What if the entrepreneur wants out? Is it even possible? Could it have some serious downsides to be tokenized? Like you see in the entertainment industry when stars get contracts at young age. I think that is important to think about to make the project into a succes and beneficial to both parties.
Good luck with your project!