You should only proceed to read the rest of this whitepaper and consider participating in our token generation event if you have read and understood
all of the above.
This will completely change the way the world transacts; revolutionising conventional contracts
between individuals, businesses, organisations and everyone in between. How will the Auscoin token be
‘revolutionary’ in this way?
AUSCOIN Group is highly focused on two primary goals:
1. Bringing AUSCOIN to the mainstream consumer market through the implementation of its
How will The ATMs are Bitcoin ATMs, not Auscoin ATMs - how will
Bitcoin ATMs world-first ATM network; and
they bring Auscoin to the mainstream consumer market?
establish
Auscoin as 2. Establishing AUSCOIN as one of the leading cryptocurrencies, emulating the same success as
one of the
leading Bitcoin and other cryptocurrencies. We believe the most significant barrier to entry for
crypto-
everyday people in the cryptocurrency market is accessibility. Cryptocurrencies are viewed as
currencies?
"too hard" or “too confusing” for many people to access, slowing widespread adoption.
Accessing Auscoin is no less complicated than accessing
any other cryptocurrency. If it is easier, how?
The Network
AUSCOIN Group has identified 600 premium locations across all states in Australia and already have
over 100 retailers who have expressed an interest in accepting AUSCOIN as a preferred payment
What method. With these measures in place, the stage is set for AUSCOIN to be one of the fastest-growing
retailers?
cryptocurrencies in existence. We are in discussions to secure as many of these premium locations as
possible and will update our community as these negotiations finalise. How were these locations selected?
How? What makes them ‘premium’?
These are
Bitcoin AUSCOIN Group is the first company to commence a National rollout of Bitcoin ATMs within
ATMs Note existing ATM provider Stargroup has partnered
Australia and Asia Pacific regions. Whose
with DigitalX to develop two-way Bitcoin ATMS wallet?
Prior to
Other blockchains use rewards from the mining pools to provide ongoing funding for development of seed
Auscoi round this
n is not the protocol. At AUSCOIN we are focused on our ATMs and so intend to reserve 1% of the value of was
a block- advertised
chain all transactions processed by the ATM into a wallet and with those funds to be used only for the
as going
promotion, growth and development of the AUSCOIN Network. Those funds will not be used for ‘back to
the
maintenance of the ATMs. The ease of accessibility via our ATM rollout is unheard of in the network,’
Where alluding
does cryptocurrency industry and will demolish any accessibility issues; making AUSCOIN the most to a
dividend
the 1%
How will Bitcoin ATMs make Auscoin the most
come accessible cryptocurrency in the entire industry.
for
accessible cryptocurrency in the entire industry? Auscoin
from? holders.
Is this Current Bitcoin ATMs in Australia are either of limited functionality or are sparsely located2.
a fee? What additional functionality is on offer with Auscoin’s Bitcoin ATMs?
After our four week trials with our first ATMs, we’ve seen an average of $182,000 transacted per
week. As we expand the size of our ATM network, this number will increase. With very little
marketing and no mainstream adoption; we are aiming for $10,000 average turnover per day per
ATM. Note trial ATMs were strategically located in businesses owned by Auscoin founders.
2
On the 12th Jan 2018 there were only 23 Bitcoin ATM’s in Australia. https://coinatmradar.com/country/13/bitcoin-atm-australia
Please note that the number of AUSCOIN available for pre-order and any applicable bonus applied to any offers to purchase
AUSCOIN tokens is subject to change at any time. Bonus token offerings may be changed or removed without notice at any time.
Air Drop
AUSCOIN Group realises that the increase in the price of Bitcoin since our Seed Round closed could
be seen to have eroded the value of contributions made by those who were our earliest supporters.
As such we have decided to include a 1,000,000 AUSCOIN Air-Drop to Seed Round purchasers of
AUSCOIN Tokens in proportion to their purchase of the total amount sold. The Air-Drop will take
place when the ICO closes and tokens are issued to participants.
Pre-ICO
Due to overwhelming demand, we have elected to move directly to an ICO for our token sale to help
bring our vision to life sooner!
ICO
The ICO will open on 12 February 2018 at 6pm (AEDT) and will close at the earlier of 28 days after
the ICO opens or when the ICO Allocation has been reached (ICO Period). During the ICO Period,
pre-orders for AUSCOIN can be placed by sending ETH to our smart contract which will be published
shortly. You will also be able to take part using our decentralised application (dapp) with Metamask
or Mist. The price of AUSCOIN pre-ordered during the ICO Period will be eighty cents USD (0.80
cents USD), with tiered bonuses for each block of 10,000,000 tokens as set out in the ICO allocation.
Securing Orders
Users who submitted an order3 during the Seed Round which has been accepted will be provided
their tokens to their nominated Ethereum wallet at the end of the ICO Period. Those users who
submit an order3 during the ICO will be provided with a digital receipt and will receive their AUSCOIN
into their Ethereum wallet directly from our smart contract. Users should not use an account on a
cryptocurrency exchange to order AUSCOIN as they will not receive their AUSCOIN. Users
participating in the ICO must send Ether from their own wallet.
Delivery of AUSCOIN
AUSCOIN will be sent to users using an ERC-20 transfer. Users will be able to verify their coin balance
using smart contract details which will be disclosed prior to the ICO.
3
Subject to our Token Sale Agreement and Token Disclosure Document 4 Sharding https://github.com/ethereum/wiki/wiki/Sharding-FAQ
5
Proof of Stake (PoS) https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ
AUSCOIN Group Pty Ltd | Melbourne AU | www.auscoin.io Page | 07
Several times this paper has discussed confusion
around wallets etc as a barrier to mainstream
The Technology adoption; how will this be resolved by Auscoin if it
is no different to any other ERC20 token?
AUSCOIN is built on the ERC-20 standard, which enables AUSCOIN to work with most Ethereum
wallets. Backed by the power of the Ethereum network, transactions happen quickly and with low
transaction fees. Holders of AUSCOIN are able to use industry standard wallets, including hardware
wallets, to secure their holdings.
Because we are built on top of the standard Ethereum blockchain, AUSCOIN will continue to advance
as Ethereum advances, including enhancements such as sharding4 and Proof of Stake (PoS)5. We
believe Ethereum is the ideal platform to support AUSCOIN as it becomes a world class option for
payments in Australia.
The Ethereum platform is expected to provide for a transaction rate of over 10,000 transactions per
second once the Proof of Stake Consensus Protocol in the Serenity Phase of Ethereum’s roadmap
development is deployed6.
Future expansion plans for AUSCOIN include, subject to regulatory approval, the possible
implementation of transaction cards, similar in size to a traditional credit card. We aim for these cards
These are
Bitcoin to be a secure offline storage device for your AUSCOIN which can be used to conduct transactions
ATMs;
Auscoin with participating merchants and at AUSCOIN ATMs. We are considering the possibility of air-drops,
token is
not subject to any regulatory requirements or approval, and the use of AUSCOIN staking for preferred
supported.
ATM cryptopricing and other exciting opportunities. - Air-drops; for what purpose?
- “staking for preferred cryptopricing”; further
detail is required for this to make sense.
- “other exciting opportunities”; like what?
6
Ethereum Project, 2017 https://www.ethereum.org/
The second portion of fifty million tokens will comprise a Founders and Adviser Pool of ten million
tokens, a Contingency Pool of twenty million tokens, a pool for investment into other projects of ten
million tokens and a pool for further research and development of ten million tokens. What other
projects?
The AUSCOIN in this second portion will have a lockout period of three years with the lockout term
ending after 4th of December 2020. Therefore, this portion of funding will not enter any exchange
until that time and its use is only for the long-term support of AUSCOIN as outlined below in the
Financial Plan - Post Lockout Period.
First mention
Q2 / 2018 of this Q1 / 2018
• ATM Rollout Stage 2 • ICO & Distribution of Tokens
• Wallet & App Release • Initial Exchange Listings
• Merchant Facility Released • ATM Rollout Stage 1
• Testing for Merchant Facility and
Expansion of Merchant acceptance
First mention
Q3 / 2018 of this Q4 / 2018
• ATM Rollout Stage 3 • ATM Rollout Stage 4
• LocalAUSCOIN Website Launched
• Brokering of AUSCOIN Available
First mention
of this
Sam Karagiozis
Founder and Company Director
TECHNOLOGY TEAM
No bio - No bio -
why? why?
ADVISORY COUNCIL