ICO Spotlight: Interview with Thomas van der Bijl, CEO of Follow Coin
This post is part of the ICO Spotlight, a series of posts with the teams behind the different projects covered by Coinschedule.
Hello Thomas, thanks for your time. Let’s talk about your project: what is Follow Coin?
Follow Coin is a company based in Amsterdam. Currently there are about twelve employees. Follow Coin aims to create a platform, a kind of a community, where beginning and average traders can meet so-called Influencers, or experienced traders. It gives them
the opportunity to get to know and learn from each other.
The platform is a helping hand for people who may be excited about crypto currencies but do not really dare to take the first step. The learning curve in crypto trading is extremely steep, especially when going from a newbie to making your first trades. To quickly help improve the beginner’s trading skills, Follow Coin introduces the traders academy, a kind of a “trading gym”, to make them a stronger trader. This way we help everyone avoid making mistakes.
How does the project make money?
As a platform where users can follow experienced traders Follow Coin has multiple ways we plan on making money.
First, users will be able to copy the trades of a followed Influencer. So as soon as an Influencer buys coin A at moment 1 and sells at moment 2 and there is a proven profit, anyone who copied that trade will also profit. Follow Coin then receives a small percentage of the copied trade’s profit.
Second, in order to follow an Influencer you need Follow tokens, FLLW. So the Follow Coin acts as the fuel to keep the platform running.
Third will be from our app. We plan to improve our app and allow it to seamlessly connect to the platform when it’s ready. This updated app will have two versions. A free version will have advertising and only allow users to follow a limited number of influencers. A paid one-time upgrade will also be available. So we earn money on the ads on one hand and on
the subscriptions on the other. That is in short the earnings model.
Fourth and last, we will also offer less-known Influencers the opportunity to be featured more prominently on the platform to increase their audience.
Do you think there’s a risk of influencers using Follow Coin to manipulate the market?
Yes, actually I think there is always a risk. It is the nature of the market.
The difference is that Follow Coin will do everything we can to prevent the follower from getting into trouble. We will do that by allowing trade copying only for coins with a minimal daily volume. This will help prevent pump and dump schemes and help keep prices from skyrocketing. Of course, it is always possible to influence the price that way, but Influencers who attempt this will be banned.
We also want to put a limit on the number of followers an Influencer can have. We will have to see how this works in practice though. The idea is to limit the ability of an Influencer to manipulate the market, or use the platform as a pressure medium.
So to be honest, yes there is a chance that the market could be manipulated. Again, this is the case already in the open market, but Follow Coin will do everything possible to reduce the risk.
What do ICO participants get by joining your ICO?
This Friday, October 27 at 6 pm Dutch time (CEST) the token sale opens. There is a total supply of 1 billion FLLW tokens, 49% of which will be available during the token sale. People who want to participate can then get 10,000 FLLW for 1 ETH. The token sale is open for a maximum of four weeks. If after that a number of tokens remain unsold, they will be destroyed or burned as it is called.
Users will need the FLLW tokens in order to access and unlock features in the future platform. Features such as following influencers or copying Influencer trades. You will also be able to trade the token on exchanges. We are currently negotiating with some of them and hope to provide an update soon.
So FLLW is not just a coin to fund further development. It’s not , but one that is also central to the functionality of the platform. It is a very useful token, a “utility token” as it is called.
Can you tell us a bit about your team?
Follow Coin is a diverse team, with the youngest being 18 and the oldest around 40. Most of them are active in the online industry. Whether it’s innovative technology, app and website development or improving customer interaction through design and usability.
The ‘C’ team consists of Joren Frielink, who is our CTO, Jan Kras our CCO and of course myself the CEO and founder with ten years experience in managing multimedia companies. Joren is in charge of the technique and works with a small team of expert developers. Jan decides how things look and how it all works. He has a lot of experience in web app optimization. Then there is our ambassador Jamal Boykin — entrepreneur and ex pro-basketball player, who helps us promote Follow Coin worldwide.
I will also give a brief introduction of the other team members. There is our copywriter Joep Winters. Rosa-May Postma is our blockchain consultant. Roosmarijn van Hanegem is our account manager and also acts as coordinator. Sieuwert van Otterloo is the Information Security Officer. Marco Velthuis is one of our top influencers with a lot of experience in trading cryptocurrencies. Nan Metselaar is our online marketeer and helps us stay on the top. Veronica van Hoogdalem, a TMF vj and now also spokesperson at Follow Coin. And of course our legal counsel SOLV attorneys.
Thomas, thank you so much for your time, and good luck with the ICO.
Thanks CoinSchedule. I hope to be able to get back to you that our cap was successfully reached and give you exciting new information about the Follow Coin platform very soon!
For more information please check https://www.coinschedule.com/icos/e1423/follow-coin-token-sale.html