Almost all fiat and digital currencies lack the support of any tangible asset. Fiat currencies are short-lived, are highly vulnerable to the oft-repeated cycle of inflationary pressures followed by dramatic revaluations, are unsafe from political control, monetary policy management, and adverse economic or political events.
The value of a fiat currency comes solely by faith in the issuing nation. On the other hand, digital currencies are highly vulnerable to volatility or a collapse in value due to adverse supply and demand dynamics, and at best merely represent an interest in the future business prospects of the issuer or the users of the currency.
CoinOil offers all of the advantages associated with blockchain enabled digital currencies while providing a fully verifiable and audited asset reserve to ensure its value, stability, and security as a leading medium of exchange.
CoinOil is a platform built on Ethereum blockchain which accelerates the growth of Oil and Energy companies by offering tools and services that save both time and resources. They are committed to setting new regulatory compliance standards for digital currencies and will actively engage with global governmental authorities to mitigate regulatory risk. They are aiming to digitize $1.7 trillion USD of the global oil market.
Some of the advantages of CoinOil are:
- Security: Their tokenization of commodity value provides a safe haven from cryptocurrency volatility.
- Best Token Prices: Minimal legal governance and compliance guarantees best token price
- Operational Platform: They have a decentralized platform for tokens and smart contracts
- Unique potential: CoinOil can be utilized for multiple purposes with a banking of a trillion dollar commodity
CoinOil (COIL Token) ICO
CoinOil's COIL token will be issued as a digital token on the Ethereum blockchain via the ERC20 protocol. Each CoinOil issued into circulation will be supported by oil assets and will correspond to a single reserve barrel of oil on a one-to-one basis. Once a CoinOil is issued, it can be held, transferred or exchanged, either in whole or in part, in the same manner as Bitcoin.
A total of 1.2 billion tokens will be sold in 5 phases:
- Pre-Sale: 25% of the tokens will be distributed. The price of 1 COIL will be 0.05 USD.
- Phase 2 Pre-Sale: 16.66 % of the tokens will be distributed. The price of 1 COIL will be 0.1 USD. It starts on 23 March 2018.
- Phase 3 Pre-Sale: 16.66 % of the tokens will be distributed. In this phase, The price of 1 COIL will be 0.12 USD. It starts on 8th March 2018.
- Phase 4 Pre-Sale: 16.66 % of the tokens will be distributed. The price of 1 COIL will be 0.15 USD. It starts on 23 April 2018.
- Sold on the Platform: 25 % of the tokens will be distributed. The price of 1 COIL will be 0.2 USD. It starts on 8 May 2018.
60% of the tokens raised will be distributed to the community, 20% will be reserved funding, 15% will go to the founders and team, 2% to the advisors and 3% for their bounty campaign. Unsold tokens will be carried over to the next round and finally the unsold tokens will be burned.
CoinOil (COIL Token) Conclusion
CoinOil has a grand idea and their business plan sounds credible on paper, however, tokenizing a trillion dollar industry will be harder than said. Governments have fallen, wars had been fought, dictators have risen to bring about change in this industry.
You can learn more about them and participate in their ICO on their website https://coinoil.io/ .