Describe the company – the elevator pitch …
The main benefits that the OnPlace team provides is the development of a protocol for tokenizing investments into shares of private companies, the creation of a universal scalable instrument for a maximum transparent and safe solution in the OTC investment field.
The use of our protocol allows the enforcement of a few things. Firstly, it’s the use of a secure and standardized channel of account management based on smart contracts. Secondly, it’s the decentralization of audit and participants’ decision-making. And, lastly, the integration of management principles directly into the asset itself
But more importantly, the implementation of protocol tokenization solves the following problems:
• A high input threshold for most investors
• High transactional costs for processing deals
• The lack of complete information necessary to assess investment risks and assess potential cost of asset growth
• Difficulties in the realization of an effective mechanism of audit and control of investments
• Lack of sufficient liquidity of investments
• A complex exiting process
How are you different?
There is basically no competition out there for us. This is a new sphere, where new innovative technology is being used. LAToken is using a similar approach but is implementing it in a different sphere, which does not relate to private companies. EquityZen, on the other hand, works in the same field as us but is not based on a blockchain platform. In this way, we are offering a relatively new concept.
Our focus lies on a specific goal – to develop financial markets through ICO mechanisms, specifically, through investing into the business of private companies based on a decentralized blockchain platform. And we open this opportunity to any investor – big and small – that is interested in being in control of his/her own investments through blockchain technology and smart tokens. OnPlace brings democracy back into the investment world, using our PATS protocol that solves numerous issues around the OTC investment field.
Why will you do well?
The OnPlace team has large investment and analysis experiences, we understand the market and are already testing out blockchain solutions. And though we have attracted the attention of large players in the investment world that have before and are continuing to support us, we are more interested in the crypto community backing us through ICO.
We base our whole concept on blockchain’s decentralized possibilities. We can say with absolute certainty that investment into private IT companies has become one of the most reliable ways to get a high return percentage on investments in a relatively short period of time. And our careful selection of these companies will allow investors to choose from leading IT companies, with highly developed teams, a working financial model, which has been invested into by the biggest VC investors of the world.
Where are you based?
We are an American corporation that is based in Delaware and has an office in the Russian Federation.
— OnPlace Inc. (@on_place) January 29, 2018
When was the company launched?
What have been your biggest wins to date?
We have formulated our idea, put it on blockchain, generated solutions. We have also formed a strong development team that allows all of this to take place. We set up two offices (in the US and Russia), and, most importantly, gained the interest and support of the financial VC community. We have received an offer to enter an accelerator program and have been given investments worth several million dollars from the investment fund.
— OnPlace Inc. (@on_place) January 29, 2018
Who are you trying to attract to your product?
Small investors, who are interested in participating in the ICO world, making their own decisions in regards to choosing the companies, the development of which they want to be a part of. We plan on launching our full-featured service on January, 2019, exactly a year from now.
What tips would you give to others looking to build their business?
• Do not strive to simply earn as much money as possible, but rather make attempts at solving pressing societal problems, which will unquestionably bring you profit
• Maximize the customer base of users through the representatives of crypto communities.
• Implement a technical distributed blockchain registry
Tell us about your team?
We have a very diverse team. Its key members have a huge experience of entrepreneurship and investments in business totaling to more than 15 year all together. And depending on the result of the pre-sale, we are looking to expand it in the near future.
What are your plans for the future?
We have many plans! But the ones that are coming up in the nearest future are launching our ICO. Depending on its outcome, we are expecting to put into circulation the first pool of tokenized assets through PATS protocol. We will publish a more detailed development roadmap after the end of the pre-sale.
— OnPlace Inc. (@on_place) January 28, 2018