WHY SOUND?
Audible transactions can be initiated offline and verified on the blockchain at a later time when connected
Offline
Audio transactions can be introduced to any devices with speakers and a microphone
Device agnostic
SonoCoin is a software platform and therefore does not require large IT capital expenditures for implementation
Cost effective
WHY BLOCKCHAIN
Of transaction and settlements through immediate distribution.
Increased Speed
Through several layers of cryptography.
Increased Security
By eliminating manual processes (ex. Reconciliation between multiple isolated ledgers, administrative processes, etc.)
Reduce Cost
By time-stamping entries and sharing a common, immutable ledger across the network.
Reduced Fraud
Of single points of failure & attack through distributed network nodes.
Reduced Risk
SonoCoin White-Labeled Solution
SonoCoin Blockchain
The SonoCoin blockchain network is a white-label solution and can be customized to satisfy specific needs
A set of Software Developers Kits (SDKs) can be integrated within existing applications
Functioning
SonoCoin can build a data-over-sound solution that will be represented by the company’s own coin’
Our team can build all necessary front-end client interfaces
The Company’s coin name, logo and supply are completely customizable
Coins can be used as company credits and are not subject to price fluctuations if they are controlled internally
SonoCoins will fuel and verify operations on affiliate networks
Enterprise adoption of the SonoCoin network will generate the demand for the SonoCoin coin, in order to process the newly created audio tokens
PROTOCOL OVERVIEW
Structure
SonoCycle = 601 blocks (600 SimpleBlocks + CycleBlock)
End of a SonoCycle
A node communicates its intention to join the network
The SonoCoin is allowed to skip SimpleBlocks. Minimum of 51% of blocks are required to validate a SonoCycle. 51% minimum needed to achieve consensus on the SonoCoin Blockchain.
A node is selected to create block
Future transaction fee model
The commission for a transaction on the SonoCoin network will be algorithmically decided based on the average price between one or more cryptocurrency exchanges using the following formula:
X - Price of SonoCoin
K - Coefficient
Y - Commission of a transaction
K = X / 1.5
Y = 0.01 / K
TECHNOLOGY SPECIFICS
Transmission - SonoCoins are currently transferrable via audio, messengers, email, QR code and Bluetooth.
Blockchain - SonoCoin functions using its own Proof-of-Stake consensus algorithm.
Storage - SonoCoin’s .WAV file format allow users to safely store and back-up coins to virtually any platform including secure cloud services, USB sticks, and external hard drives.
Security - Access to SonoCoin’s application is protected by a choice of password, fingerprint and facial recognition. Each SonoCoin .WAV file can be individually encrypted with a choice of password.
SonoCoin Application - Each SonoCoin .WAV file is a self-contained wallet representing a public key, private key, address and any denomination of coins. The application functions as a way to split, combine SonoCoin files and communicate change of ownership to the blockchain.
SonoCoin SDK
SonoCoin Wallet SDK
APIs to send and receive SonoCoins. Integrate SonoCoin to your Blockchain wallet today.
View Documentation// Read from Json file
io.sonocoin.sdk.Types.Item item =
io.sonocoin.sdk.Sound.SonoJsonSerializer.loadItemFromFile(filename);
io.sonocoin.sdk.Types.Coin coin =
item.GetCoinFromRemoteNode();
// Write to Json file
io.sonocoin.sdk.Sound.SonoJsonSerializer.saveCoinToFile(coin, filename);
LEARN MORE ABOUT US
What is SonoCoin
How SonoCoin works
DATA TRANSMISSION METHODS
Audio Signal
SonoCoin audio files are sonic interpretations of code that can be recognized by any sound-recording device
Messaging Platforms
SonoCoin .WAV (why WAV) files can be sent directly from the application via any online platform, including email, social media networks and instant messaging
QR Code
SonoCoin QR codes contain specific data regarding the transaction amount and automatically debit and credit the application without need of re-issuance
BLUETOOTH & WIFI
The SonoCoin application scans the Wi-Fi network or Bluetooth network for near-by devices connected to SonoCoin in order to directly send and receive coins.
Broadcast
Primarily targeted at advertisers, this feature will allow for one SonoCoin file to be equally sent to thousands of users
Inaudible Transactions*
Our team is currently developing ultrasonic frequency transactions that cannot be heard by the human ear, intended to improve promotions via push notifications
NFC*
NFC (near-field communication) is a subset within the family of RFID (radio frequency identification) technology, enabling electronic devices to communicate at a range of 4cm
*currently under development
TRADITIONAL TRANSACTION MODEL VS. SONOCOIN'S UNIQUE PROCESS
Bitcoin Transaction Process
Recipient public address is required to send transaction
Transaction is broadcasted to the network
Outputs are recorded to the distributed ledger
SonoCoin Transaction Process
SonoCoins can be sent to anyone without the need of recipient’s public address
Delivery via any of the distribution methods below
Coins are uploaded and change of ownership is broadcasted to the network
SonoCoin simplifies blockchain-based transactions giving anyone the power to utilize common methods of delivery
WHY SHOULD I INVEST
CUTTING-EDGE TECHNOLOGY
SonoCoin’s technology functions differently than the tradition Bitcoin-wallet, since the data transmission system is directly linked to the blockchain, eliminating the extra layer of requiring a digital wallet
A seamless and consistent user experience. Data can be transmitted and received using standard speakers and microphones, allowing for considerable cost advantages entirely based on a new blockchain protocol
SonoCoin allows for cross-device flexibility and bypasses the physical limitations of short range radio-based protocols
DEVELOPED AND READY-TO-MARKET
SonoCoin’s back-end infrastructure is fully operational and the blockchain is live and running
Ready-to-market product offering (audio technology), that can be implemented across multiple devices at any time
No further engineering and development work required for the project to scale, only innovation and maintenance costs
EXCLUSIVE NETWORK AND HIGH-LEVEL PARTNERSHIPS
SonoCoin is backed by a large number of corporate, finance, and legal professionals in Switzerland
An unparalleled scientific hub sourced in the Russian Federation, home to some of the best cryptographers in the world
Strong relationship with Switzerland's largest telecommunication provider, one of Europe’s largest crypto exchange and one of world’s largest cryptocurrency payment processor
SOLUTIONS WITH SONOCOIN
ADVERTISING INDUSTRY
ADVERTISING
INDUSTRY
SonoCoin looks to revolutionize the advertising industry by introducing the ultrasonic frequency transfer of coins through ads. Once a coin is collected, a customer will have the ability to exchange the SonoCoin for discounts on goods and services.
Challenge: Brands see event sponsorship as a way to increase visibility and strengthen customer relationships, The challenge derives from the difficulty of directly engaging with the customer and accurately measuring the success of the campaign.
SonoCoin solution: Using the SonoCoin application, brands will have the possibility to incentivize customers to purchase their products during the event at a discount, by using the coins distributed to the audience via audio transmissions.
Example: A sponsor broadcasts 1,000 coins to the audience at a football stadium to be used towards the discounted purchase of beer at near-by stand.
Challenge: Tailored television advertisements have grown in popularity as mass marketing becomes increasingly irrelevant. Engaging your audience through enhanced layer of personalization will be used to better connect to viewers.
SonoCoin solution: The inaudible transmission of SonoCoins to viewers would offer rebates on displayed products with additional information incorporated within the coins such as links, text, promotional discounts for your next purchase, etc.
Example: An online marketplace offers customers rebates on inflatable hot tubs by embedding coins within their advertisement and driving traffic to the product via the link received in the SonoCoin file.
Challenge: Online radio streaming is on the rise, with 52% usage from all American adults and +10% YoY growth among Millennials. As competition intensifies, loyalty to stations is often rewarded through engaging listeners in prize contests. This has proven to be costly and time consuming to organize with many listeners not interested in participating.
SonoCoin solution: SonoCoins broadcasting capabilities can simplify this process and gain more retention. This could be done by periodically distributing coins among listeners for engaging in activities, or by rewarding listeners for their presence.
Example: A radio station distributes 5 SonoCoin to each listener every hour to increase retention.
GAMING INDUSTRY
According to a report released by SuperDataReseach, consumers spent about $41 billion on the mobile gaming market in 2016, with Pokémon GO and Clash Royale being the most popular. It is estimated that there are approximately 2.6 billion monthly users across all mobile games.
Challenge: As online gaming grows exponentially, it creates a global need for payments standardization. Most games have created their own “currency”, for instance the gold coin in World of Warcraft. The use of FIAT currencies is fundamentally inefficient, given that games incorporate currency conversion fees.
SonoCoin solution: SonoCoin aims to be adopted by gaming communities as the primary digital currency, based on its versatile and audio characteristics. The universal acceptance of one currency across all gaming platforms and online shops would eliminate the need for secondary conversions into FIAT currencies. For instance, users would no longer need to convert in-game credits into USD to make a purchase from a gaming platform. In-app purchases would no longer require personal information and credit card details, thus removing related risks of fraud. Furthermore, SonoCoin would provide the anonymity and convenience needed for community based online transactions. Catering to this need could incentivize loyalty to games through the monetization of game-related milestones.
Challenge: Trust is an issue in society and where money is involved. Trust, or lack thereof, is often grounds for anxiety for bother parties involved. In today’s world very few transactions take place absent of middleman who provide this critical element of trust. However, these groups of middlemen having been collecting billions of dollars yearly in the form of a fees for performing their service. Blockchain-based solutions for gaming are expected to grow from $411 million in value from 2017 to an astonishing $7.68 billion by 2022.
SonoCoin solution: SonoCoin is introducing a new betting system to the gaming industry whereby the process is fixed and optimized to eliminate the need for a neutral third party to be involved. The third party is replaced with a detailed set of very specific criteria in a smart contract, that is made directly between the two players involved in the bet. This approach enables the community to create and define its own markets, adding a new social dimension to the betting process. The smart contract will be set up, and it will specify who wins so that winnings are released correctly when the result is announced.
Challenge: If accessibility is the greatest strength of esports, its biggest weakness is its disorganization in comparison to the NFL, NBA and MLB with predefined game schedules and playoffs. Esports, however, is managed by a multitude of organizations including game publishers and media companies. Esports is the Wild West with a "fractured landscape and lack of cohesive calendar," the Leaders report stated. "For the outsider, it is almost impenetrable to decipher what and when the biggest events are and how they fit into a wider narrative." As a result, advertisers looking to penetrate this niche market are reluctant on where and how to build presence.
SonoCoin solution: As brands look to gaming competitions for exposure, understanding the advertising landscape can be challenging. The Director of Global eSports Sponsorships at Twitch highlighted this point by saying, "What gamers care about is altruism, and they want to see brands doing something that benefits the space, not just the brand." SonoCoin’s ability to connect brands to audiences online or in large stadiums via sound frequencies enables advertisers to incorporate collectable valuables within the message. An example could be in-game currencies and/or unlockable milestones that can be verified on the blockchain.
CORPORATE USE CASES
A recent study by Bond Brand Loyalty states that 53% of Americans participate in loyalty programs with a reported 38% satisfaction rate. The same report found Loyalty membership growth slowed from 26% achieved in 2016 to 15% the following year. Industry experts blame frustrating registration processes, poor distribution methods and low perception value for deteriorating customer engagement. Providing customers corporate cryptocurrencies would bypass much of the registration process, facilitate distribution, increase mobility and prevent fraud. SonoCoin looks to enable corporations the ability to modify coins for specific spending purposes. This would essentially ensure the coins are identifiable and prevent them from being spent on unrelated products and services.
Challenge: According to a Colloquy Loyalty survey, loyalty program growth has declined 11% since 2016 with more than half of loyalty members remaining inactive and 30% of which abandoning programs without redeeming miles or points. Costs for running such programs are high, estimated at $35 billion a year for third-party processors such as First Data Corp, who service prepaid and private-label credit cards tied to corporate loyalty points.
SonoCoin solution: According to Richard Crone, CEO of payment consultant Crone Consulting LLC, Blockchain could cut up to 80% fees of for corporate loyalty programs. SonoCoins versatile characteristics represent an ideal solution for the distribution of coins to be used as loyalty points. SonoCoins coloured coin feature would allow corporations to essentially white-label the coins to be redeemable for its desired purposes.
Example: Loyal airline customers are rewarded in SonoCoins for choosing their company. The coins are provided for download from the customer account. The airline compnay has significantly cut loyalty program operating costs by no longer relying on 3rd party services.
Challenge: The Gift card industry has been steadily growing at 5% YoY since 2011 to become an industry worth $307 billion. Recent growth has been faced with crippling challenges such as double-spending, fraud and damages amounting for $1 billion in 2017 according to a Market Watch article.
SonoCoin solution: As the industry grows, corporations are looking to blockchain for security, ease-of-use and efficiency. SonoCoin’s coloured coins provide corporate currencies the versatile characteristics of being highly-transferrable, without the need of traditional cards and inherently prevents double- spending and fraud. These coins would be slightly altered to be used against specific products and services provided by the company supplying the coins.
Example: Alex purchases 30 modified SonoCoins offered by an online media shop to used specifically towards related products and services. The coins are transmitted via audio to Alex’s application. Alex gifts his younger brother the SonoCoins for his birthday by sending him the coins via messenger.
Challenge: Rising credit card merchant fees mean higher prices for everyone. The fees are broken down into two parts; the first is the interchange fee set by credit card network which is the percentage of a sale the issuing bank charges to handle the transaction. The second is a fee the card networks Visa and Mastercard charge for each transaction. As of February 2019, the average processing fee for merchants was 2.5%. This amounts to $25 million in fees for $1 billion in sales.
Solution: SonoCoin looks to offer merchants an alternative method of payment based on blockchain technology to reduce processing fees. A blockchain mobile credit card would be white-labelled to a company for them to be issued to clients. This would include a fully customizable wallet and tokens to be implemented within a company’s existing mobile application. Each customer would be allocated X number of tokens at the beginning of a month as credits for an equal amount in local currency (1 to 1). These tokens are to be spent in exchange for goods and services within the company’s offerings. Each transaction is executed via QR codes and recorded on the blockchain. Customers are billed at the end of the month and any failure to so will result in charging the customer’s credit card as agreed up in a legal contract. This would significantly reduce the costs for companies and increase brand loyalty with select group of customers. The company’s network costs are recovered when the company becomes a ‘validator’ within SonoCoin’s consensus.
DIGITAL COPYRIGHTS MANAGEMENT
Illegal file-sharing still remains a major problem for media companies, while the blockchain has the potential to solve that problem. With a blockchain, content owners have full control and visibility of the consumption and number of uses of individual songs and/or movies. Therefore piracy and copyright infringements are nearly impossible. There are several intermediaries between the content creator and the potential advertiser. The slice of the monetization cake for the initial creator of digital content becomes smaller with every additional party involved.
Advantages:
Content owners can fully leverage, control, and monetize all copyright assets that are recorded in the blockchain.
Illegal file sharing and other copyright infringements will be impossible, due to the transparency of the blockchain details through collection associations as trusted third parties.
MILESTONES
2016
SonoCoin back-end infrastructure development begins
2017
First prototype of the SonoCoin blockchain is launched
Audible transactions are introduced to the blockchain
Initial coin pre-sale offered publicly to the community
2018
Rolled-out MVP and first marketing efforts
SonoCoin application interface update
SonoCoin partners with Swisscom Blockchain
SonoCoin adds University of Geneva Professor Jean-Henry Morin to its Board of Advisors
SonoCoin adds Alex Alexandrov, Coinpayments founder and blockchain pioneer to its Board of Advisors
SonoCoin sponsors OpenGeneva, an innovation festival and Geneva-based hackathon
Presented on the Crypto Valley Association Summit
Launches the Bluetooth & WIFI data-transmission capabilities
SonoCoin begins protocol stabilization process
Protocol related hashing improved
Improved redundant information from P2P protocol
Unit tests and integration tests implemented
1HY 2019
Reduced cyclomatic complexity of critical code pieces
Setup a public test network
Completed the protocol documentation
Contribution guidelines for open source collaboration
Completed overall architecture and implementation details on minor parts of the code
Initial discussions with media, entertainment and commercial partners
Partners with MMBA, SonoCoin’sstrategic relationship for commercial outreach
Presentations to the technical teams of prospective partners
First live technology demonstrations and tests
Ongoing updates and improvements on the blockchain network
Introduced Broadcast data transmission method
Negotiations on Proof-of-Concept projects with different commercial partners
First LOIs/MOUs signed on commercial deals
Signed LOI with Blufolio Venture Capital Fund
Signed LOI with Avant Capital Advisers
Signes agreement with LATOKEN for Initial Exchange Offering and listing
Roadmap
Q1 2019
Initial Exchange Offerings and public launch
Cryptocurrency exchange listings
Consensus Audit
Private Bug Bounty
Public Bug Bounty
Code & Protocol Audit Finalized
Test Net Deployment
Q2 2019
Main Net Beta Release
Consensus-as-a-Service outreach
First commercial deal signed within the media sector
First commercial deal signed in the land/p
Mobile/Desktop Software Updates (UX)
Q3 2019
Ultrasonic Frequency Transactions development begin
Q4 2019
Smart Contracts development
Proof of Contribution Consensus
Coin Allocation Structure
Coin Allocation Model
Coins
%
Percentage
Total Coins in circulation
100,000,000
100%
Private/Public Sales
25,000,000
25%
Commercial Partnerships
55,000,000
55%
SonoCoin Reserve
20,000,000
20%
Private/Public Sales
25,000,000
100%
Previous Sales
2,000,000
8%
LATOKEN IEO
10,000,000
40%
Secondary Offerings
13,000,000
52%
SonoCoin Reserve
20,000,000
100%
Employees and Advisors
7,500,000
37.5%
Coin-options pool
5,000,000
25%
Ecosystem Development
7,500,000
37.5%
TEAM
Leonid Afanasyev
Founder and CEO
Founder and Director of Crown Capital Group. Former Investment Advisor at Morgan Stanley
Vlad Mitrofanov
Chief Technology Officer
Software Engineer specialized in Quantum Cryptography. Founder of BitCAD – voice authentication cryptocurrency
Erenik Yzeiraj
Head of Corporate and Investor Relations
Investment Advisor at Crown Capital Group Analyst. M&A/Corporate Finance –BPDG and RAMPartners SA
Evan Dean
Head of Marketing & Commercial Solutions
Blockchain expert and crypto-trader. Front-end Content Developer Founder of Fintech Forum.
Jean-Baptiste Decorzent
Associations and Strategic Partnerships
18 years of project management experience for multinationals, governmental and IOs.
Core Development Team
Dmitry Volkov
Team Lead Developer
Previous lead engineer for military defence systems. Education: Kazan Federal University, Computer Science. +12 years of working experience in software engineering, cryptography
Vladimir Gomonov
Full-stack developer
Education: KFU, Institute of Computational Mathematics and Information Technologies. +15 years of working experience software development, engineering
Eduard Mustakimov
Senior Programmer
Education: KAI, Department of Applied Mathematics and Computer Science. +10 years of software development expertise. Programming languages: c#, C++, JavaScript, typescript, SQL, HTML, CSS
Ildar Nurrulin
DevOps Engineer
Education: KAI, College of Information Technologies Graduate software engineer. Programming languages: Python, Bash, JavaScript, SQL
Nikolai Demko
Software Developer
Education: National Nuclear Research University (MEPhI). Work experience: Software system development for the trade automation in financial markets, integration complexes for financial markets (AO Citibank, Integral, LMax, Currenex)
Konstantin Nenastin
Software Developer
Education: Kazan National Research Technological University, Programming in Computer Systems. 3 years of software development expertise in e-commerce, e-banking, blockchain, cryptography
ADVISORY BOARD
Alex Alexandrov
Strategy Advisor
Founder & CEO of Coinpayments.net – one of the largest cryptocurrency payment processing platforms
Sven Möller
Tokenization Advisor
Head of Tokenization Services at Swisscom Blockchain. Manager – Ernst & Young
Jean-Henry Morin
Member of Advisory Board
Professor of Information Science at University of Geneva. ThinkData.ch
Arnaud B. Perdrizet
Member of Advisory Board
Founder & CEO of World Payment Solutions. Senior Advisor to Wirecard Group.
SWISSCOM BLOCKCHAIN PARTNERSHIP
ICO Advisory
Swisscom Blockchain AG is a leader in providing ICO advisory services in the Swiss market. Thanks to their technical and advisory services our fundraising will benefit from an infrastructure, that guarantees security of funds and compliance.Protocol Stabilization
We have onboarded Swisscom Blockchain in order to provide a first certification of our blockchain network. Required activities: Code auditing, protocol stabilization, but also infrastructure provisioning.Bug Bounty
A private bug bounty, onboarding white hat hackers and cybersecurity experts will be launched in order to have a second level of testing of our blockchain. After this our blockchain protocol will be released open-source.AS SEEN IN
FAQ
1. What is SonoCoin?
SonoCoin is the first cryptocurrency to transact via encrypted audio files. The .WAV file format gives anyone the power to transact utilizing simple methods of delivery such as sound, QR code, messenger, and Bluetooth.
2. Where is the ICO company based?
SonoCoin is a project that belongs entirely to Crown Capital Group SA. Crown Capital Group SA is a joint-stock company with its registered seat in Geneva, Switzerland and will issue SonoCoins during the Initial Coin Offering. Crown Capital Group SA is member of the self-regulatory organization OAR-G (Organisme d'Autorégulation des Gérants de Patrimoine). Therefore, Crown Capital Group SA has the capability to conduct the necessary KYC/AML processes for the private sales of SonoCoin.
3. When will the ICO start?
ICO Date is subject to the progress of the following:
- Legal process ensuring SonoCoin is fully-compliant with FINMA ICO regulations
- Finalizing a third-party protocol/code audit of SonoCoin's network
- Private bug bounty of SonoCoin's network to find potential weaknesses before releasing code to public
4. How much are you raising?
The estimated coin sales will result in a soft cap of €12,500,000 and hard cap of €67,500,000. If the soft cap will not be reached, the founders and existing financial backers will provide the additional funds to continue the project.
5. What is the current stage of your technology?
SonoCoin technology stage is currently in working prototype. The blockchain network is live and running and the transaction system is developed and operational. There are currently four transaction methods: audio frequencies, messaging platforms (digital .WAV files), QR code, Bluetooth & WIFI
6. How can I participate in the ICO?
Details regarding participation in the public sale event will be provided shortly.
7. Give me an example of how SonoCoin can be used?
Television Advertising: An online marketplace offers customers rebates on inflatable hot tubs by embedding coins within their advertisement and driving traffic to the product via the link received in the SonoCoin file.
Mass Events advertising: A sponsor broadcasts 1,000 coins to the audience at a football stadium to be used towards the discounted purchase of beer at near-by stand.
Radio advertising: A radio station distributes 5 SonoCoin to each listener every hour to increase retention.
Gaming: The universal acceptance of one currency across all gaming platforms and online shops would eliminate the need for secondary conversions into FIAT currencies. For instance, users would no longer need to convert in-game credits into USD to make a purchase from a gaming platform. In-app purchases would no longer require personal information and credit card details, thus removing related risks of fraud
Gift cards: Alex purchases 30 modified SonoCoins offered by an online media shop to used specifically towards related products and services. The coins are transmitted via audio to Alex’s application. Alex gifts his younger brother the SonoCoins for his birthday by sending him the coins via messenger.
8. Can US citizens participate in the SonoCoin ICO?
No
9. What happens to the tokens (if) which are left unsold?
These coins will be allocated to the Ecosystem Development pool.
10. What is a bounty program?
A Bounty program is set-up to incentivize the community to actively help promote the ICO through social media channels. This can include ICO video reviews, articles, tweets, fb posts, reddit posts and telegram campaigns. We plan to begin a bounty program in the coming months.
11. Is SonoCoin going to have a bounty program?
Yes, SonoCoin will organize its bounty programs in the following months. Bug bounty and marketing bounty campaigns will be organized and launched shortly. SonoCoin will inform the community on how to participate to the bounty programs once the SonoCoin code & protocol audit is completed.
12. Which exchanges will offer your coin?
SonoCoins will be listed on the EXMO exchange: https://exmo.com/
13. Do I need a special wallet for the tokens?
Sending SonoCoin’s is like sending physical cash. The application is a mechanism to publicly communicate the right to spend the cash received.
Each SonoCoin .WAV file is a self-contained wallet representing a public key, private key, address and any denomination of coins. The application functions as a way to split, combine SonoCoin files and communicates change of ownership to the blockchain.
Please note that our website provides a JAVA SDK to be integrate into existing blockchain wallets.
14. Which blockchain protocol are you using?
SonoCoin has developed its native Proof-of-Stake (PoS) protocol. Verification of transactions are executed through “staking” of coins on the SonoCoin network. More information can be found in the whitepaper.
15. Do you have mobile apps?
Yes, we have mobile applications for iOS and Android available for download on our website.
16. What purpose does the blockchain have in SonoCoin?
As a payment coin, SonoCoin relies on the transparency, security and trustless characteristics of blockchain technology.
17. Is SonoCoin open source or will it be in the future?
SonoCoin is undergoing a full audit of its source code by Swisscom Blockchain AG to identify any significant weaknesses. This will be followed by a private bug bounty for further inspection. Once these are finalized, SonoCoin will open source its technology while withholding any key trade secrets.
18. Is SonoCoin going to have a foundation and give governance to community or it will be in a centralized / governed?
SonoCoin’s lonterm goal is to become a decentralized platform by becoming a self-governing autonomous network. This can be done through means of a foundation (often times set-up in the canton of Zug) and is an option case for SonoCoin at a later stage.
19. How will development of the SonoCoin network continue as a decentralized entity?
We believe that the key to mass adoption is to tap into existing userbase ecosystems through strategic partnerships and collaborations with large corporations. A successful entry into any of the targeted markets will spur continual development for their specific needs and use-cases.
Our software engineers have made available SonoCoin’s JAVA SDK for implementation into other blockchain wallets. We are planning for the release of many more, and look forward to working hand-in-hand with our communities in customizing SonoCoin for future use.
20. Which currencies are accepted for the coin sale ?
FIAT currencies: EUR, USD, CHF
Cryptocurrencies : BTC, ETH, BCH, XRP
21. On which blockchain network will the token issuance be based and what type of tokens are you issuing ?
SonoCoin will offer its native coins and the ICO will be launched on its native blockchain network.