Following is the Q&A with Karl M. Walder, MBA, Project Developer at OiCoin. Questions were submitted by members and the team of Inflow-Crypto Club through e-mail and Telegram Group.
Official website: https://www.oicoin.io
Q: Could you make a short introduction to the project you are working on?
A: We are working with osmium – the last of the 8 noble metals in the periodic system. It is extremely scarce. A group of metallurgists found a way to crystallize osmium, making it ready for investment and jewellery business. Once it is crystallized – it has an incredible and stunning optic. It is like a bar of a million diamonds. One does not need to convince an end user or a jewelry business – it just needs to be shown. The product is very expensive through its rarity. Prices have gone up fast the last two years. Once all osmium is mined – there is a total amount of 2m³ minable in the earth crust – we anticipate skyrocketing prices.
Q: Apart from scarcity why do you believe Osmium is going to be so valuable in the future?
A: The look of crystallized osmium is incredible. We anticipate that the luxury market in jewelry and decoration will jump on this noble metal – as it was jumping on platinum 40 years ago. We anticipate a sharp rise in prices by then.
Q: Besides transparent revenue sharing – is there any other reason to use blockchain with your project?
Q: Who would you say your competition is?
A: There is no competition as such. Nobody else is able to crystallize osmium. The development process took more than 20 years and is incredibly complex. We anticipate that raw osmium cannot be mined in 10 years as it will be exploited by then.
Q: What about partnerships? Do you see potential collaboration with some other crypto/blockchain based projects or any real-world enterprises?
A: Partnerships are highly interesting as we need partners in ever country round the globe. We will build up Osmium Institutes worldwide and will be grateful to get good connections with real-world enterprises.
Q: Most of the funds you will raise are going to be used for marketing. How exactly are you planning to market your project (to make it globally known)?
A: In every geographically relevant area we look for people to establish and run a national Osmium Institute – linked to the German headquarter. The task of this national institute will be the introduction of crystalline osmium to the local markets. There are all sorts of tools, p.r. material, samples, packaging and so on – prepared in handbooks – available. With the help of the headquarter first steps have to be made to the local noble metal dealers and to jewelry wholesalers and retailers to make the product visible and known. This process will be done country by country. So far the first countries are already ahead of plan and working successfully on these markets.
Q: Only 1% of funds are intended to be used for Legal costs, wouldn’t you say you will need a bit more than that?
A: Not really. In terms of osmium trading most legal issues are already sorted out and up and running. It is more the helping hand that is needed. We have an own legal department in the company structure who does most of the work.
Q: This project doesn’t seem hard to develop blockchain technology-wise but still, wouldn’t you say your team lacks blockchain and crypto experts? You are still trying to raise funds in the crypto world.
A: Development of the smart contract was very simple and easy as it is only about distribution of funds to token holders. We do not at all have lack of crypto experts. Michael Karl Gasser – our team-leader is seen as the top expert for crypto in the country – he conducts regular training in the crypto world for bankers and investment experts in Austria. Also, other members have been involved in ICO’s and crypto business in the past.
Q: How exactly will we know how much Osmium was sold and what is the revenue?
A: Due to German legislation, a company of a certain size (which the Osmium Institute will be) has to open the books at the end of the year. Chartered accountants have to verify P/L and balance sheet and then officially publish their results – which will clearly show and proof the revenue.
Q: The roadmap is a bit vague… After “ICO” and “trying to get the token on exchanges” there isn’t much about what you want to achieve with the token itself and the project. Could you say a bit more about it?
A: Q1/2019 we will make the next steps to getting to exchanges. Our main goal though is, to distribute revenue shares as fast as possible. Through this, every token has an inner value – as it generates constant income. This will for sure raise the value of the coin. Looking at the roadmap it should be possible to prove that every invested cent will multiplicate itself enormously.
Q: About your business model; how exactly will you calculate the 10% revenue? Buy price for raw( non-crystalline) osmium, sell price to vendors or their margins? Cash flow and revenue from the last 2 years? Amount of processed product in the last 2 years? I mean osmium has been around for some time now, why would it get more mainstream?
A: Yes – osmium has been around the block some decades – but always in elementary (toxic) version. Used as an alloy – for special areas.
For 4 years the process of crystallization has been detected and stabilized. This was a work of more than 2 decades. Osmium is on the market in raw form – although through legal restrictions not tradeable for private people. In crystalline form, it changes the system architecture of the molecules and cannot react with oxygen anymore. therefore it is usable for commercial purposes.
The look of the product is absolutely incredible, Through optical refraction of light, crystalline osmium looks like a carpet of diamonds – and is an absolute must for any jeweler who gets it in his fingers. So our message to the market is – just go out and show it to people – it will sell itself.
The luxury market has been always great – no matter if markets are bullish or bearish – top of the list always won.
The sales of crystalline osmium worldwide will be done through the German Osmium Institute. Their revenues are the base of the calculation. 10% of whatever they sell will be distributed to token-holders. Volume has not been big the last years – it all just begun. But look at the sheet in our whitepaper – we are exactly on plan and anticipate a real rally. Given the fact that 1 kg of crystalline osmium costs more than 1 mill.€ now – it can only get better.