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[ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin

6 years 5 months ago #1 by Rofo
NobleNXT
Moving Forward Using 2.0 Platforms
Amount funded: 122.5 out of 210 BTC
Crowd Fund Extended Until NYE PST

(at 0 days remaining I stop NOXT/BTC offering and do the NOXT/NOBL burn at determined rate (see Distribution ))
                                                                                                                                                                                                                                                   
NXT Asset ID: 6780060819348751348 - Using NXT Wallet for Holding/Trading NOXT

Web Cached Link to Unmoderated Community Thread #1 (Original Deleted by Mods)

The Paper:

Noble: Corporate Colored Coins
Applying Blockchain Technology to Traditional Business Structures as an Experimental Step towards Distributed Autonomous Corporations (DACs)

1-8: Introduction, Distribution, Platform Agnosticism, Utility, Exclusivity, Incentive to Participate, Stability, Thought Leadership


Proposal
NOXT is a project I have been researching and conceptualizing for a long time, taking much of what I have learnt publicly and privately in the cryptocurrency 'industry'. In essence it is a crowd funded coloured coin that aims to incorporate many market-expected features while having a game-plan of pushing the possibilities of coloured coins in what I expect will become an increasingly regulated and accountable space. These coins work differently to the decentralized cryptocurrencies often presented, and I hope the paper(s) released for each section helps clarify the idea. While parts of it is theoretical at this point in time pending regulations, licensing and legal clarifications from authoritative bodies on how the technology may be used moving forward (parts I make sure to clearly identify), much of it is already possible today pending a little exposure, faith, work and funding.

Crowd Fund
I would like to crowd fund this idea with both NOBL and BTC (preferably funded 50/50), of which the NOBL I receive would be permanently destroyed (one way of returning value to the NOBL community) and BTC used for funding things that will be laid out in the paper. So if you have any concerns with buying NOBL you are able to directly enter with BTC. Generally I have always disliked the idea of raising funds because of the outright scams prevalent in this space and the pressure that can come with them. However, after working with NOBL now for 11 months using 'community/reserve' funds (a double-edged sword I often talk about) and knowing that the ideas presented below require resources I will be attempting to raise approximately 420 BTC (210 BTC of this is funded in NOBL which is permanently destroyed) - with 100BTC ($35,000) being a minimum I could work with over 12 months to prove proof-of-concept.

During the time spent researching and preparing these proposals to move forward into 2015, as well as through a surprisingly extensive professional network outside of bitcointalk I very quickly came to know of the impending SEC crackdown on downright fraudulent misrepresentations regarding securities, equity, dividends and investment. My Twitter began warning about the growing problem before news started surfacing but unfortunately I am considered quite the 'negative Nancy' until things came to a head. I am approaching this project very slowly to make sure members understand what it represents and what it does not. I am also being careful to make sure that nothing I am presenting still 'quacks like a duck (security)' even though it isn't called a 'duck' (security). There are grey areas still for me and some risks which while I am uneasy about seem acceptable, however I will be very proactive here as the scene matures rather than hide in loopholes. In short, I am crowd funding the idea and rewarding supporters with 'tokens' (colored coins) that give them exclusive access to the infrastructure & services and many perks/rewards for helping me realise this. These are not securities, do not currently represent a stake in a company, nor do they guarantee profit-sharing or a return. I want to provide legal value to the coins, I want to build the systems around them and promote the technology, and I want to license and regulate myself to grow this project to full potential for everyone involved for many years - I do not want to end up in trouble with the law. So there are things I can and am happy to promise, and there are things I will not guarantee. The legalities section of the whitepaper heavily expands on this paragraph with a lot of referenced material, but please ask away.

Transparency/'PoD'
Two weeks ago I disclosed everything financially related so far with NOBL and my position - it can be read here . I am happy to provide further documentation to back up those details, as they can understandably be hard to believe for some. In regards to PoD, I voluntarily released all personal details for NOBL in January, including my LinkedIn , and Australian Business Number . The Transparency & Accountability section expands on these.

Questions/Trolling/'FUD' - Moderation
I have a policy of not considering anything unwarranted FUD until it becomes obvious trolling. I will be moderating this thread stronger than I did NOBL (where I removed only scam pools and large red text spam), but anyone (including the usual suspects) who would like to make a statement will be quoted and addressed in this ANN. I will also link any posts that people start related to this project and will answer Q's and discuss there. I would however like this thread cleaner than many and will be moderating clear trolling/attacks, but will be doing my best to answer all constructive criticism, explain concepts throughout the paper and respond to dissenting views.
                                                                                                                                                                                                                                                   

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