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More than $5.6 billion was spent on ICO’s in 2017; Dice Money offers investors a way to support a project without spending their money, contributing computer power instead. DICE can also be mined offline and held in physical format.
Crowd-Mining as New Alternative to ICOs
DICE Money is a new form of digital cash. DICE stands for DIgital CErtificates and is a cryptocurrency which creates a new way for projects to raise money. An individual or company simply has to set up as a new project and this enables them to be funded by their community through crowd-mining.
The widespread application of DICE includes organisations such as schools and hospitals who wish to fund a new community project. It applies to anyone who has a social goal and is looking for contributions without wanting to ask for money. DICE is very easy to implement and adopt through all niches in the economy.
Crowd-mining is where each individual uses their computing power to mine DICE which is then used to fund the project. They do not have to donate any money and yet a project can be fully funded. This offers an alternative to the traditional, expensive way of performing ICOs which require investment and trust.
Their new model rests on a ‘cluster economy’ where miners are clustered around operators. Anyone who sets up a project will become an operator and anyone supporting the project will mine DICE in connection with them. The miner can choose how much DICE they wish to donate to the project and how much to keep for themselves.
DICE Money is not just a way for projects to be funded, DICE can be used to buy goods and services and it uses limited trust parties to confirm payments. DICE can be held in digital form or in physical form as a printed note. This means that not only can it be spent easily online, when it’s in physical form, it’s impossible for a hacker to steal.
They have a score of high-profile advisors behind them who are advocating for the project. Co-founder Konstantin Dimitrov said: “Normally these top advisors charge a lot of money, in our case they came to us. We ended up in a situation where our advisory team was bigger than our needs. There are several other high profile individuals who will join us and are waiting to see how this will develop.
DICE Money are running an ICO to kick-start the project. For this they have created an ERC20 utility token called ‘Dicet’ which will be optionally exchanged for DICE at the end of the ICO. Investors are currently able to purchase Dicets with Ethereum. The first public beta will be released soon after the ICO ends.
Recently, DICE Money announced they have integrated with Bancor Network, securing a new source of liquidity for the Dicet. This provides Dicet token holders with continuous liquidity which isn’t dependent on trade volume. The Dicet will activate a relay token with 3% of its circulating total supply to be activated immediately after the ICO ends.
They managed to secure a deal with European Sports Media meaning DICE will be advertised at international rugby and T20 cricket matches around the world. This also includes radio station advertisements and press releases. This highlights how much money is required to fund an ICO and why a better model is needed. This model is DICE Money.