CloudEO Blockchain Network Foundation (CBN Foundation) has been established to build an ecosystem of geodata providers offering affordable geoservices to individuals, businesses, industry, and the public sector.
We have launched this blockchain venture to be on the forefront of data collection and the provision of location services critical to expanding the Internet of Things (IoT) and development of Artificial Intelligence (AI).
As the number of machines and services that demand connectivity and geographic monitoring increases, the geoservices sector is estimated to generate $150–$270 billion of revenue globally and is projected to expand incrementally.
Democratization of Geodata
The CloudEO Blockchain Network (CBN) enables crowdsourcing, machine-to-machine communication, and the exchange of geospatial information through automated transactions, which include geodata, software and IT infrastructures. The use of existing geodata and platform services, contribution of new data, development of new applications, and seamless interaction is provided on the CBN through ‘smart contracts’.
Using the technical capacity of smart contracts (tokens) to run an integrated, immediate exchange of content and funds through one automated transaction is needed in order to make the smallest transactions (‘micro-geoservices’) and crowdsourcing feasible. Synchronizing the collected data is then critical to providing data for the Internet of Things (IoT), which otherwise may not be successfully driven by disperse and limited geocontext.
Token Generating Event
The CBN Foundation will generate 1.1259*109 tokens (“CloudEO”, cryptoexchange symbol: CLT) in October 2017. Of these 1.1259*109 tokens, the Foundation will reserve 28.5% for distribution to stakeholders of the existing ecosystem – individuals and entities, who have contributed to the ecosystem either as geodata or software providers, geoanalytics developers, distribution partners, service providers, or those in other professional capacities. At the same time, in exchange for digital currency, the Foundation will distribute to early supporters up to 5% of all CloudEO tokens allocated for a token generating event (TGE).
Through the end of 2017, the Foundation will distribute 40% through a general TGE for the international blockchain community, satellite and geo-enthusiasts, and individuals and enterprises willing to participate in building and developing the CBN, with the goal of enabling and promoting the use of geodata and geoservices on a decentralized blockchain network.
The CBN will operate on the secure Ethereum blockchain. Tokens will be pre-mined and will be generated on Ether. The technical work to develop and operate the blockchain will be done by CloudEO AG, Datarella, and a third-party technical service provider who will be retained to run due diligence and manage the private keys to contribution wallets.
The CBN Foundation itself is a Liechtenstein-based foundation established for guiding the efforts of participants of the CBN. It was initiated by CloudEO AG (Munich) and Datarella (Munich) providing a strong team of business, legal, satellite, geoservice, and blockchain professionals.
The complete CBN Foundation Whitepaper describing full details of the CBN is available on the event site. We have made it available for an open discussion and are currently collecting and processing feedback. The final version will be released by the CBN Foundation shortly before the anticipated Token Generating Event (TGE). You are welcome to provide your feedback and inquiries to us at cbn.foundation
If you wish further information about the planned blockchain or the token generating event please contact us at firstname.lastname@example.org.
A CLOUDEOTOKEN does not represent ownership or a security interest in the Foundation or any other entity. Nor is a CloudEOtoken related to any other assets or properties. The token does not represent a debt owed by the Foundation or any other entity and shall not be considered a debenture. To acquire CloudEOtokens, you need to be genuinely interested in contributing geodata, skills, time, energy and expertise to the CBN by becoming a member of the CBN community of volunteers. If you determine that CloudEO token may constitute a security subject to regulations in any country, we strongly advise you not to acquire them and suggest you immediately notify us of any possible risks.