There are several individuals that would like to share, protect and store their content, in a secure platform powered by blockchain technology. With ICST, this is possible. Creators will be able to show their content and skills with other people from all over the world.
What Is ICST?
The Individual Content and Skilled token (ICST) is a new exchange protocol that uses smart contracts and allows individuals to share their talents and skills. With a user base of over 50 million people at launch, ICST is partnering with the leading entertainment and social platform: Star Maker, The Voice and American Idol.
You can share your talents, including singing, talent, art, gaming, Photoshop, and earn money by doing it.
StarMaker, a multimedia entertainment and social platform built in San Francisco obtained a great success in India and added 40 million users since 2017. But the intention is to migrate part of the functions of StarMaker to the ICST protocol in the middle of 2018.
The People-Joy Foundation is behind the development of ICST and it focuses on providing transparency to the management of the fund to create a sustainable and ecological community for participants. In order to achieve so, the foundation works under three main principles: transparency & trust, Non-profit Principle, and Sound Management Mechanism.
The ICST is a utility token for paying costs associated with using the service. The ICST’s basic utility value is to pay for the cost of using the ICST system. People who contributed resources or services to the platform will be rewarded with tokens. In the future, the token will be used in the decentralized exchange of StarMaker.
Who Is Behind ICST?
The team of ICST is conformed by Richard Bai, Co-Founder, Jerry Ji Guo, Co-Founder, Vaibhav Namburi, CTO, Osman Yagan, and Ramesh Shrestha.
Jerry Ji Guo is a serial blockchain entrepreneur who previously headed Bitcoin.com’s marketing operations and oversaw Polymath’s $100 million ICO. He also serves as CMO of Smarter Contract.
Richard Bai is the Co-founder of BD Fund and is a graduated from University of Sheffield. Vaibhav Namburi has helped implement Smart Contract and interactive dApps including Solidity and Hyperledger.
Osman Yagan is an Assistant Research Professor of Electrical and Computer Engineering (ECE) at Carnegie Mellon University (CMU). Finally, Ramesh Shrestha is a Ph.D. in the Department of Mechanical Engineering (ME) at Carnegie Mellon University (CMU).
Some advisors and investors are Yahui Zhou, Jonathan Ha, Xiaolai Li, Jimmy Hu, Michael Lewis, and Daniel Bar.
ICST Coin ICO Details
The company will be releasing 3 billion ICST and 900 million used for private sale.
The use of the funds will be as follows:
- Development of ICST blockchain protocol – 40%
- Research and Development for the Expansion and Migration from StarMaker to ICST – 25%
- Research and Development of the ICST platform 20%
- Promote the ICST protocol to applications on other platforms – 15%.
The initial release plan of 3 billion ICST tokens is as follows:
- Cornerstone Investors and Private Sale 30%
- Promotion of Ecological Systems 25%
- Community Rewards 10%
- The Foundation 20%
- The Team 15%
The ICST platform is used to store, share and protect digital creative content to protect artists, lower transaction cost and create an efficient ecosystem of revenue sharing.