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Tournaments True Reputation - 2

 

- Repetition-the mother of learning!
- And who is the father ?!

 

A more eternal Russian question.

Appeared before the appearance

of the ancient eternal questions of

"what to do" and "who is to blame.

 

 

 

As practice shows, interest in the blockchain industry continues to remain at least consistently high and was not greatly influenced by the universal defamation of the ICO which has earned its “fame” sometimes quite rightly.

 

However, in our opinion, the problem of trust in blockchain startups - the problem of ICO projects fraud - cannot be resolved by legislative methods without seriously limitation the availability of such crowdfunding tools to small and medium teams, especially in the real sector.  You can tighten the legislation and control in the field of ICO but then its cost as well as the complexity of the requirements will become too heavy for most startups. It should be understood that ICO is the most loyal form of ideas investing and investment into ideas. And if this form is regulated as currently proposed in most of the laws that are being drafted and adopted in order to “protect the investor” it will not be necessary to produce new ideas (first of all, useful ideas of tokenization of small and medium-sized businesses):  the familiar alternatives exist already which small and medium businesses have abandoned consciously, choosing ICO and generating a couple of thousand altcoins in a short time.

 

After all the freer the economy is, the more economic discoveries people can make by free creativity.  Of course, the risks of fraud are high, but in times of transition which the world is experiencing now the risks of a traditional issue  of payment means by a monopolist are not lower.  Or is scam token more dangerous than scam fiat?  Then what does it mean this fiat inflation for decades?

 

The solution to the problem of fraud with the simultaneous availability of funding, in our opinion, can be the organization of a hybrid model of crowdfunding, when teams are providing typical documentation for their project (White paper, MVP, RoadMap, etc.) for a general overview and are also involved in  "competition" organized for them by a third party but which the teams finance by their own money.

 

That is why we propose to apply the principle of card games, but with other goals and functions.  The organizer collects a pool of blockchain startups and proposes them to create the Prize Fund and take participation in a refereed online event - a discipline that can be mastered quite simply by any team member in the shortest possible time. Then  a competition takes place according to the rules of this discipline among the players who contributed (buy-in) in the prize pool.

 

It is important that the refereed discipline has no any relation to the blockchain project of the player.  It is also important that the player fights with other players not only or rather not so much for receiving the Prize.  The prize is only a nice bonus.

The main thing in such a tournament is that the struggle is aimed at obtaining a well-deserved reputation or thetitle(reputation, marker ...), which is immediately received by the player (the project team) who contributed the buy-in.

This marker is confirmation that the player has made a bet on himself, intending to prove the absence of fraudulent intentions in his project.  Simply put, this is a form of challenge to the "duel" of the investor.  This form is a bet: when people argue fervently, betting on themselves.

Moreover, the project team makes the bet, not the investor.

 

The difference between this ICO model (working title "True Reputation ICO", TR-ICO, proof-of-joke) and the generally accepted nowadays, customary one is that no investors´ money are initially collected for the projects but a fund is created by the projects themselves.  There is no contradiction here: in order to have a chance to demonstrate their project on ICO the project team usually has to invest a decent budget in preparing documents and software, presentation, holding a number of promotional events, etc. And all this is completely without any guarantees of a refund.

 

In the TR-ICO model that we offer, the debater who has "appointed" the dispute to an investor is already guaranteed to take advantage: more than one investor is invited to the competition.  Even if the arguing project does not receive its investor, any participant will receive the status of a tournament player who has invested in a buy-in, which means in himself.

 

During the tournament itself, not only the CEOs or programmers of the team participate in the game, but also any member of the team whose task is not to prove that the team is the smartest, but to prove that the project team is stubborn, purposeful and willing to sacrifice  his buy-in in case of its loss in order to prove it.

 

It is the fighting qualities of the team members that are the main factor that influences the investor’s decision on the financing of the project.  The whole history of mankind testifies to this: human feelings rule the world and civilization, whatever they may say about it. In their actions, people still rely more on them than on reason.  Reality is created entirely with the help of feelings and desires, and not with cold reason or intellect.

 

Therefore, the project which is a player of the tournament, immediately receives a True Reputation marker and  the “weight” of it (TRO, TRH and TRZ)  can be changed depending on how the team behaved in the competition, whether it managed to win, whether it was possible to convince  investors, etc.

 

That is, in addition to the chance to win the Prize, the team becomes the owner of the  reputation marker True Reputation, which will indisputably testify: the lack of a scam in the project is confirmed by a dueling challenge (by making a buy-in) and fighting qualities of the team during the competition.

 

In order to avoid doubts about the sincerity of the intentions of the organizer of the tournament, a smart tournament contract was created. And now it is available for anyone to study and control.  The task of the smart contract is to ensure the safety of the buy-ins,  the payment of the Prize (the only Winner, although all players win: they have a marker) or the buy-ins return if necessary.

 

To begin the implementation of the TR-ICO model and the replication of the True Reputation marker, tournaments (competitions) are organized in different disciplines.


Scheduled for June 4, 2019 tournament (Moscow, Russia) is a table football, kicker.  The following tournament disciplines, as well as the venue, will be offered by the winning team and discussed by the community.

 

@orrcc @nagorbu 2019 ©️TrueReputation