Earlier this year it was reported that the first adult club allowing Bitcoin as a payment mechanism was launched in Las Vegas. With the diverse applications of blockchain technology, one of the most attractive aspects of the technology is its anonymity and privacy. When you take it a notch further, the ability to create a secure environment for transactions makes the world of exotic dance clubs a no-brainer. Globally, the market is estimated at $75 billion.
Given this massive potential and real-world application, it was only a matter of time before an entrepreneur would tap into this market, which has been largely stagnant with innovation in recent years. CryptoStrip is just that company and, this summer, they will be launching Exotic Coin, a dynamic token that will be used on the CryptoStrip platform.
To learn more, CryptoStrip Founder George Leroe walked us through his background, inspiration for the project, and going the Security Token route.
1. Tell us a little bit about yourself. How did you get started in blockchain?
For the past 10-plus years, I have been a business owner in the medical field but felt it was time for a change. Something new and innovative. Which brings me to Blockchain. We are just touching the tip with the uses Blockchain can offer worldwide. Some, not so technological, like CryptoStrip’s first token.
2. What was your inspiration behind the project? How did it all start?
It all started while on a business trip in Hong Kong end the of March with Robert Kenemer. Two gentlemen talking over drinks while dreaming a what-if question. Then, as soon as I was stateside a few days later on April 2, 2018, I took the “thought” to paper and ran with it.
3. What is your competitive advantage?
CryptoStrip Inc tokens, Exotic Coin, will offer several advantages for all tokens it releases. All tokens will:
1. Be released through a Security Token offering NOT an ICO
2. Serve a niche of the market as a security token
3. Have Passive Income Investment Opportunities whereas CryptoStrip will invest into a variety of options and give back to the Token Holders 40% of the Monthly proceeds on a Prorata split (only for those who bought tokens prior to the end of the STO)
4. Serve our communities, both domestic and internationally, with multiple Philanthropy Projects from 20% of the proceeds from #3
4. What is the biggest problem currently in the market?
The biggest problem in the market today would have to be scams. Once one invests their monies to purchase coins/tokens they hope the company follows through closely on what is portrayed in the Whitepaper. Most times there is no way to hold these companies accountable for following through which leaves most investors nervous.
5. What does 2018 have in store for you guys?
CryptoStrip is in the works to offer 2 tokens through the intentions of applying to the SEC via Form 1A for a Regulation A + Tier 2 Exemption and then applying to Registered Exchanges which accept Security Tokens for US investors.
6. Anything else you would like the world to know?
There are other tokens out there who have done this on a more simple model, but do you know why they open on the exchange at $1.00, in some time frame they shoot up to $2.00 or more, and then as of today under $0.10? Why?
They have no residual benefits to the token holders.
How many times is a person going to visit an exotic club in a week, month, or year? The number of times the average person may go will be one to two times a month and that’s pushing it.
Yes, the ultimate purpose of the token is to interact between token holders and the club, but there must be more intrinsic value to allow this coin to rise on an exchange.
For hypothetical purposes ONLY. This has not been performed but what CS intends.
Let us say someone wanted to be a VIP member. They would have to purchase a minimum of 250,000 tokens at $25,000.00.
Therefore, the Token Holder now owns 250,000 tokens:
250,000 token holder / 500,000,000 (total amount available for sale in STO) = .0005%
And say OUR PIIO bring in $10m per month with 40% going to Token Holders or $4m.
That’s $4m in the monthly pot x .0005% = $2,000.00 profit sharing to the VIP Token Holder.
All 5 of our investments intend to pay on average 20% a month.
Now, CryptoStrip has just given Value back to Token Investor through a monthly passive income. The more tokens one purchases prior to the STO ending the higher the pro-rata split. This benefit will not be offered to those who purchase EXC on any exchanges and should an EXC token holder sell their tokens on the exchange then their pro-rata percentage will disappear.Opinions expressed here by Contributors are their own.