Adel ▲ White Paper ▲ Designing a Blockchain Incubator

Designing a Blockchain Incubator

▲ Roadmap Series

By: Gabriel Dusil, Co-founder & Board Member, Adel
Michal Vavrek, Founder & Board Member, Adel

Framework

Adel is an incubator for blockchain innovation. Members are active participants in the formation and creation of innovative projects. They participate by proposing, collaborating, and improving ideas, as well as helping progress them to the business planning stage. Members who participate in the formation of the idea and business plan can become future investors in projects, and can even participate as full-time employees once the project is launched. All participants can utilize their expertise to help fuel innovation and create viable projects. All members can have an integral role in the project’s formulation and success.

Roadmap

To create an effective and efficient startup incubator, Adel has established a phased deployment to build the ecosystem:

  • Feb 2016 ▲ Adel is founded
  • Jun 2016 ▲ Phase 1 ▲ Ecosystem Architecture
  • Dec 6th 2016 ▲ Website is launched
  • March 17th 2017 ▲ Adel Ecosystem Limited is registered in the Isle of Man
  • May 1st 2017 ▲ ICO, round 1 begins
  • Jun/Jul 2017 ▲ Adelphoi, ADL is listed on exchanges
  • Jun 2017 ▲ Community module development begins
  • Jun 2017 ▲ Phase 2 ▲ Legal & Investment structure development begins
  • Jun 2017 ▲ Idea to Project Supply Chain begins
  • Q3 2017 ▲ Ardor is released
  • Q4 2017 ▲ Adel becomes child-chain of Ardor
  • Q1 2018 ▲ Investment entity established
  • Q1 2018 ▲ Adelshare, ADS equity token is established
  • Q2 2018 ▲ First projects are funded & launched
  • Q2 2018 ▲ Phase 3 ▲ Project Execution

Phase 1 ▲ Ecosystem Architecture

Adel has established a Limited Liability Company (LLC) in the Isle of Man called Adel Ecosystem Ltd. The role of this company is; to formulate great ideas into business plans; facilitate and curate community activities; and protect the Adel brand and filter projects that are deemed to violate its ethical, moral or legal philosophy. In addition, Adel’s role is to ensure the Idea to Project Supply Chain is progressing efficiently and effectively. Furthermore:

  • Control resides with community members. The community participates in project creation and has the voting power to choose which projects are approved. All members can be active participants in the creation of ideas, building business plans, and in the execution of projects.
  • This legal entity will adhere to Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF), and Know your Customer (KYC) requirements.
  • Adel will also implement security solutions that follow International Organization for Standardization, such as ISO 27001 for Information Security Management.

The Adelphoi (ADL) coin[1] will be a digital currency used primarily within the community. It will be used to purchase products, services, and solutions within the community, and to solicit the expertise of other members in community services to help fuel the success of projects. In addition:

  • ADL coins will also be used as remuneration where members provide their employment services in projects. In addition, ADL will be the currency used to reward project owners with dividends.
  • Adelphoi (ADL) is a digital currency primarily available for the Adel Community. ADL will be tradable on external exchanges giving the opportunity for new participants to join the community. External trading of ADL opens the opportunities to bring fresh ideas to the community through community growth.
  • A member’s voting power will be associated with the amount of ADL in their account. For example, a member with 100,000 ADL will have a hundred times more voting power than one with 1000 ADL in their wallet.
  • Part of the capital of the ADL coin from Adel Ecosystem Ltd. will be used to establish the investment vehicle in phase 2 and the creation of Adelshare (ADS).

Adel’s Community portal is exclusive to members only. Adel is primarily an incubator for blockchain innovation. Membership is granted to Adelphoi holders that meet the minimum requirement of over 1 BTC[2] (during the respective ICO round, or an equivalent of 2 BTC after the ICO, in equivalent ADL coins based on the equivalent rate at the time of the ICO round). In addition, Adel will:

  • Ensure a secure environment for its members.
  • Create an environment where the Adelphoi coin can be used for transactions.
  • Develop a Community Portal that will consist of six modules:
  1. Account Module
  2. Collaboration Module
  3. Voting Module
  4. Trading Module
  5. Market Module
  6. Project Module

Phase 2 ▲ Investment Structure

This phase will entail the creation of a new legal entity to establish an investment license. This entity will introduce a new token called the Adelshare (ADS), and will represent a member’s equity stake in projects. Once ADS tokens are established, then participants will buy these shares using their Adelphoi (ADL) coin. These will be tokenized on the blockchain as the Adelshare (ADS).

  • This legal entity will adhere to Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF), and Know your Customer (KYC) requirements.
  • In this second phase, ADS will represent shares in projects, and can only be purchased with ADL coins.
  • Ownership of ADS allows its holder a respective share of dividends based on one unit per ADS.
  • Purchasing Adelshares (ADS) will only be possible for Adelphoi (ADL) coin holders.

Phase 3 ▲ Project Execution

The process flow for projects begins with submitting ideas to the Adel Board and the Project Review Committee for review and discussion. Ideas then proceed to the marketing stage to prepare a high-level overview document and/or presentation, its market positioning and landscape, value proposition, and unique selling points. The main purpose of this high-level document is to communicate this idea to the rest of the members.

Then the project enters the business planning stage with the guidance of the Project Review Committee and its community members. When a project plan is nearing completion then it is ready for a community vote. Members will vote on the project based on the combined weighted value of ADL in their wallet (and ADS, once this token is available). The voting process anticipates three main outcomes:

  • There will be members who vote no to a project’s business plan.
  • There will be members who vote yes to a project’s business plan[3].
  • There will be non-active voters who do not vote at all.

Approved projects will take one of four forms:

  • Community Projects ▲ Majority Approved Projects ▲ Voting results are tallied and if the community’s yes result is greater than 50%, then it is designated a Community Project. Here is an example of how community funding will work:
  1. Once the second phase investment vehicle is established, members will be invited to create a community-pooled fund by using their ADL to purchase ADS. Their wallet will reflect their equity stake in the pooled fund as a representation of their ownership and for future dividends for community projects.
  2. When the threshold of ADS is raised for the community fund, the seed capital will be released from the BTC repository (collected during the ICO) to begin funding the community project.
  3. In terms of ownership, 30% of community projects will be allocated to Adel Ltd. and 70% will reside with members who own community ADS tokens.
  • Group Projects ▲ Minority Approved Projects ▲ If less than 50% of the community says yes to a project, then the project can become a Group Project:
  1. Projects are funded by members who have purchased ADS in the project – forming a “group”. Group participants can choose how many ADL from their wallet they wish to use to purchase ADS tokens. Adelshares are the representation of a member’s equity stake in the project.
  2. Once the required ADS shares have been purchased by members then Adel’s BTC repository will be used as capital to seed-fund the project.
  3. Only active voters in a group project (those that actually voted “yes” or “no” in the voting window) can fund the project and become an Adel Investor to that project. This is to ensure a maximum number of members participate in the voting process: You need to vote to invest.
  4. In terms of ownership, 30% of community projects will be allocated to Adel Ltd. and 70% will reside with members who own a group project’s ADS tokens.
  • Innovator Group Projects ▲ Innovator Community Projects▲ These are projects where an idea is submitted by an Innovator (a member of the community) or from external party with an existing product or service.
  1. The Innovator (or external party) first indicates their equity percentage of the project. In other words, if an innovator requests x% of the project ownership then the remaining split will be 30% for Adel Ecosystem Ltd and 70%-x% for the Group or Community. It will be the decision of the community vote to decide if this is an acceptable business plan to approve the project. If it is not approved, then the business plan (and innovator split) may need to be revised accordingly.
  2. In terms of ownership: x% the project’s Adelshare is allocated to the Innovator of the project, 30% is for Adel Ecosystem Ltd., and 70-x% of the Adelshare is allocated to the active participants of the project (i.e. Adel Investors).

Ecosystem

Building our ecosystem will be a learning process. Not just for the community members, but also its leadership. Our goal is to find balance between a healthy ecosystem where innovation and collaboration can flourish, while maintaining a best effort approach to legal compliance and future legislation. There are many challenge that the ecosystem will face. Particularly a market where technology leads and legislation lags.

Adel is trail-blazing blockchain startups into mainstream economics. We seek to build a path that is safe, ethical, and principled. There are many obstacles along the way, but we have accepted them as an opportunity and a challenge. It is our mission to create a strong and stable incubator for blockchain innovation, and build projects that will change the future.

About Adel

Adel is a technology incubator for blockchain innovation.

  • Adel is a global cryptocurrency community that is self-sustained, and offers its own economic ecosystem with the Adelphoi token. Our community focuses on creating, developing and implementing use cases involving blockchain technology that covers a wide range of digital and physical industries. Projects are chosen by the community and successful ventures are either re-invested in for further growth or issued as rewards to Adel’s stakeholders.

About the Authors

Gabriel Dusil

Gabriel is a seasoned sales and marketing expert with over twenty years of experience in senior level positions at companies such as Motorola, VeriSign (part of Symantec), and SecureWorks (part of Dell). His strengths lie in international business development and strategic partnerships, as well as the unique ability to translate complex ideas and technologies into language that decision makers can easily understand. Gabriel has a Bachelor’s degree in Engineering Physics from McMaster University in Canada and possesses expert knowledge in cloud computing, IT security, and video streaming technologies (Over the Top Content, OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages two blogs: https://dusil.com/ and https://gabrieldusil.com/.

Michal Vavrek

Michal is an entrepreneur with international experience specializing in global business development and project management. He graduated from Indiana University’s Kelley School of Business with a degree in Finance and International Business and worked in various capacities in New York, Zurich and Prague. Michal is an active cryptocurrency entrepreneur with an extensive background in Forex algorithmic trading strategies and is always seeking new opportunities that maximize blockchain technologies.

References

[1] There will be no asset rights or dividends associated with the Adelphoi coin.

[2] This minimum incorporates ICO contribution bonuses earned throughout different stages of the ICO.

[3] If the amount of “yes” votes is deemed too small to be even a group project, then it could be shelved and revisited at a future date if ample enhancements can be made. Or the project plan could be combined with another idea to make it more viable. As more projects enter the community, then there are more possibilities for combining innovative ideas.

Further Reading

1. Building a Decentralized Ecosystem

http://wp.me/p3eaA5-ifv

In this white paper, we discuss the phased rollout of Adel’s ecosystem. The first phase includes the launch of Adel through an initial coin offering (ICO). Phases two and three will focus on building and managing the community.

2. An Incubator for Blockchain Technology

http://wp.me/p3eaA5-ifI

This paper provides an overview of Adel and its ecosystem. We outline how the community can interact with Adel’s staff, as well as activities surrounding project submission, approvals, and operations.

3. Responsibilities in a Crypto-economy

http://wp.me/p3eaA5-ifT

Adel is a community where every member is connected through token participation and voting. This paper outlines the roles and responsibilities of community participants, including its members, project managers and Adel’s leadership.

4. Creating Value with Cryptocurrency

http://wp.me/p3eaA5-ig9

This white paper outlines Adel’s advantages from three vantage points: its underlying blockchain technology, the Nxt and Ardor platforms from which Adel is built, and the additional business processes Adel has introduced to provide effective, community-based funding.

5. Differentiation in the FinTech Revolution

http://wp.me/p3eaA5-igm

In this paper, we discuss existing cryptocurrency technologies that are available today by providing an overview of the blockchain marketplace and Adel’s position within it.

6. Maintaining Integrity

http://wp.me/p3eaA5-igq

This white paper outlines the principles of a community-based ecosystem and how this can be sustainable and profitable using cryptocurrencies as its foundation.

7. Inspiring Innovation

http://wp.me/p3eaA5-ih8

Spontaneity and creativity is impeded by a heavily formalized process which has been established by sizeable institutions that have evolved over many decades of operation. We outline how Adel will change the investment landscape and inspire technological innovation.

8. Protecting the Community

http://wp.me/p3eaA5-ihc

In this paper, we outline established procedures to mitigate risk to Adel’s ecosystem while protecting its brand, infrastructure, and the integrity of blockchain solutions.

9. Managing the Ecosystem

http://wp.me/p3eaA5-ihg

This document frames the procedures established by Adel for community projects. We discuss the guidelines for proposal submissions, reviews and approvals, as well as management and operational oversight. We also outline fund allocation to approved projects and reward distribution to stakeholders.

10. Designing a Blockchain Incubator

http://wp.me/p3eaA5-ihB

In our continued efforts to communication Adel’s vision, this white paper expands our three-phase roadmap explained in White Paper #1, “Building a Decentralized Ecosystem”. We have now included our timescales to list ADL on exchanges, the introduction of our Adelshare (ADS), move to Ardor, and project execution (phase 3).

Adel ▲ Opinion ▲ The Next Evolution in Funding Innovation

The Next Evolution
in Funding Innovation

▲ Fintech Series

By:          Dalibor Cerny, Finance Lawyer, Crypto Enthusiast
Gabriel Dusil, Co-founder & Board Member, Adel

Abstract

This article is the second part of a Financial Technology series[1], discussing funding and organizational structures of new digital companies and blockchain[2] ventures. This is the second article following, “The Right Path to Funding Decentralized Organizations”, where we explored the dynamics of financing startups and new entrepreneurships.

An Ecosystem of Participation

Initial coin offerings (ICOs)[3] are a very popular way for ventures to raise funds for their endeavours. Digital companies are developing novel ways of governance as existing models become dated, and needs to be modernized. A new enterprise called Adel[4] is a refreshing example of how blockchain is being combined with traditional venture capital seed funding while exposing the challenges and controversial topics in the fintech evolution.

In this new decentralized community model, Adel created an environment whereby experts, investors, and future employees can co-exist based on their participation in its ecosystem. This is instigated by a less regulated and very user friendly ICO. Several ICOs have used existing cryptocurrency protocols to create cryptocurrency tokens. The most notable are blockchains such as Nxt,[5] Counterparty, Bitshares, or Mastercoin (now Omnicoin). One advantage of an ICO, compared to traditional Initial public offerings (IPO), is that it is done outside of heavy regulation and oversight.[6] Compared to modern funding models such as crowdfunding, ICOs are executed without an intermediary. A growing number of digital technology startups are raising cash this way, by creating and selling their own cryptocurrency tokens and bypassing the need for banks or venture capital firms.[7]

ICOs represent a new way of funding because people can invest their money very flexibly from all corners of the world. Participants of the ICO are investing in the future of the company and in the anticipated success of the solutions they are developing. Contributors to the ICO help to raise awareness in their respective communities. The investors are also motivated by the speculative growth of the cryptocurrency token market price as early buyers. They also provide early liquidity for the cryptocurrency tokens when trading starts. Once funding is completed, the cryptocurrency tokens are listed on cryptocurrency exchanges such as Poloniex[8] to trade against other cryptocurrencies. This allows the participants to immediately trade their tokens based on the speculative movement of the token’s market value. In some cases, this can result in lucrative short-term gains. The token’s price is a reflection of the ICO’s overall vision, market sentiment, project news, and momentum regarding the ideas of project flow, innovation, and future revenue potential. Some well-known cryptocurrency tokens that were developed through an ICO are NXT, Mastercoin, Bitshares, Ethereum, Maidsafecoin, NEM, Synereo, Factom, DigixDAO, Lisk, Waves and others.[9] What can be a potential disadvantage of ICOs is that most of them are not regulated or registered with any government organization and there is usually no investor protection (other than those built into the given platform itself). Also, cryptocurrency tokens have no legal meaning and do not represent an asset in many government jurisdictions. This is why ICOs can be currently deployed, since digital currencies are not considered securities.[10]

Adel understands that their funding model needs to have a regulatory safety net, similar to traditional financing. They are the first decentralized organization launching an ICO that will be compliant with Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF) rules[11] and related Know Your Customer (KYC).[12] This is a logical move because cryptocurrency exchanges using bitcoin are becoming subject to AML/CTF/KYC rules and some have voluntarily implemented similar procedures. Adel’s compliance to KYC will likely omit a segment of the market of bitcoin liberalists who will not give up their identity. On the other hand, that may not be such an issue because the threat of not having AML/CTF/KYC today is having the fund shut down by regulators due to non-compliance.

A New Type of Company

Adel’s organizational structure consists of two major parts. First of all, is membership. Stakeholders of ADL are invited to join the Adel community after the ICO, following a minimum investment of 1 bitcoin (BTC). Membership allows the participant to exercise their right to collaborate and vote on projects based on the amount of Adelphoi coins they hold in their account. Second is an established service company called Adel Ecosystem Ltd.,[13] which oversees the rules of the community and AML/CTF rules to meet regulatory requirements. Adel Ecosystem’s advisory and expertise umbrella offers services such as research and development, a project review committee, marketing services, a legal and accounting team, a business development team, and a board of directors.[14] Adel will retain a 15 % stake from the ICO for these services and will also own 30 % of the projects launched in the ecosystem.

From an organizational perspective, Adel combines the best of both worlds:  regulatory, legal and ethical compliance, together with an innovative governance structure. Unlike The DAO or similar models (as explained in our previous article of this series), Adel is not governed by smart contracts.[15] Day-to-day decision making maintains a “human element”, rather than computer code. Given the fact that smart contracts are still a concept yet to be proven resilient in the real world, this is definitely a safer solution for the time being.[16]

The role of stakeholders in the Adel ecosystem will consist of collaborating on idea development, participation in business planning, and voting on new projects that emerge from the ecosystem. Through democratic voting, stakeholders will be able to influence which projects will be deployed. Because Adel will be community driven, stakeholders will have the opportunity to raise the necessary capital for projects. Once deployed, the stakeholder can then follow the project’s progress, or even get the opportunity to participate actively as an expert.

Compare Adel’s decentralized and self-sustaining community to the role of employees in a traditional corporation. The negative aspects of corporate life are significantly attenuated. Would discrimination exist on the same scale it does today if organizations were decentralized? Would people be treated unfairly? Would you spend time working on something that didn’t interest you, or continue to sit in an office just to prove you were at work? Would the notion of climbing the corporate ladder be as important? Would projects continue to be disrupted or derailed due to personal agendas and insecurities?

Adel’s project decisions reside at the membership level. Every project is submitted to a community vote. This process revolves around a social networking engine where good ideas can become a community project if a majority rules in its favour. But even if this is not the case, then the project can survive with a minority vote. In such a case, it becomes a group project. This process is democratic, transparent, and flexible enough to function properly. A necessary prerequisite is complete access to all information relevant to projects. This level of transparency is not provided to shareholders in traditional corporations. Disclosure of information in these companies is purposefully challenging. For example, sensitive information probably requires a formal written request, or is limited to shareholders on a need-to-know basis.

Shareholders of traditional securities are granted shares in exchange for money paid to the corporation for holding that equity. They may meet annually at the corporation’s annual meeting and receive quarterly statements on their performance. In Adel, project performance is reflected in an online “Project Dashboard” which shows the performance of investments on a weekly or bi-weekly basis. Members of the Adel community not only get a stake in projects through a future token called the Adelshare (ADS), but will also participate in the creation and execution of projects. So Adel members have an emotionally vested interest in its success because they’ve participated in the project’s growth from infancy to adulthood.

Traditional companies are mostly based on a structure where the board of directors oversees the officers of the company and ensures operations follow corporate mandates and legal procedures. Directors have, among other duties, a fiduciary duty to act in the corporation’s best interest, as opposed to their own. These duties are in place to protect the shareholders’ investments. Adel’s board of directors has documented a similar function.

Distributions of profits (dividends) in traditional companies are usually made through proportional amounts per shareholder. The proposal to distribute profits is made by the corporation’s board of directors. The board can decide to either distribute the profits to shareholders or to keep profits in the corporation as working capital or to fund a new endeavour. Adel will distribute its profits in a similar manner. This is contingent on establishing Adel’s second entity after its ICO called Adel Ltd., which will have a fund license to enable its members to buy Adelshares (ADS) in projects. Dividends to members will then be distributed in Adelphoi (ADL) currency (Figure 1).


Figure 1: Adel’s Currency vs. Ownership Funding

The protection of intellectual property within the Adel ecosystem is not the same as in a traditional company, mainly due to its transparency. Social media and the internet has largely done away with the notion of secrecy anyway, as evidenced by WikiLeaks, government monitoring, and Facebook’s and Google’s ongoing correlation of user behaviour. Adel realizes the difficulty of balancing transparency with confidentiality, and has stated their interest in withholding secret information that may be critical to a project’s success. This is mainly positioned to protect both stakeholders in the community and the rights of the projects’ authors (referred to as Innovators, in the Adel ecosystem).

Projects in Adel’s community will assume different forms, based on whether the Innovator of ideas wants to keep a portion of the equity, or to release it as a community project. This approach is meant to ensure that innovative projects continue to be launched, while minimizing the risk of copycats.

The Future

Whatever becomes of Adel’s final structure, it is important to emphasize that the world of cryptocurrencies and ICOs is still a Wild West when viewed from the perspective of traditional financial vehicles. It is strongly advised before taking part in any investment of such nature to do your due diligence on a given ICO and on the people running it.[17] There are risks involved and the possibilities of being scammed are well documented.[18]

There are also grey areas where regulators still need to catch up. Blockchain startups need to have a proper legal structure for an investor to fall back on in the case of trouble. However, the same reasons why this space is so risky also make it so attractive. Innovative projects are being created using untested structures and technologies, which may either evolve into something marvellous or won’t make it out of the starting gate. The choice is up to the investor whether to be a part of the blockchain movement, but informed decisions should always be made. Participants are given an opportunity to enter a playground of high innovation, clever minds, and the creation of cutting-edge projects that may positively change the world. To say you were a part of it from the beginning has its own prestige.

About the Authors

Dalibor Cerny

Dalibor is an (alternative) finance lawyer, crypto enthusiast and Vipassana meditation practitioner. He has roots in Prague, Czech Republic, where he obtained his PhD. in Private International Law and International Trade Law. He also studied Master of Law (LL.M) in San Francisco, California and International exchange program at Bucerius Law School in Hamburg, Germany. In his professional life, Dalibor is focusing on banking, finance (including alternative finance, crowdfunding, cryptocurrencies and fintech), capital markets, insurance, reinsurance and international trade law. He worked as an attorney and in-house legal counsel for global financial institutions such as AXA and European Investment Bank.

Gabriel Dusil

Gabriel is a seasoned sales and marketing expert with over twenty years of experience in senior level positions at companies such as Motorola, VeriSign (part of Symantec), and SecureWorks (part of Dell). His strengths lie in international business development and strategic partnerships, as well as the unique ability to translate complex ideas and technologies into language that decision makers can easily understand. Gabriel has a Bachelor’s degree in Engineering Physics from McMaster University in Canada and possesses expert knowledge in cloud computing, IT security, and video streaming technologies (Over the Top Content, OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages two blogs: https://dusil.com/ and https://gabrieldusil.com/.

References

[1] This article targets a broad audience without getting too deep into technical, economical or legal jargon. The reason for this approach is to explain the latest activities in fintech in the most accessible way possible, without getting lost in all the technicalities. The authors assume that the general public struggles to keep pace with technical, legal and social media developments and that it is challenging for individuals to orient themselves in the jungle of media overload, fake news, scams and annoying trolls.

[2] A very basic visual introduction to the concepts behind a blockchain: https://www.youtube.com/watch?v=_160oMzblY8&t=143s

[3] http://www.investopedia.com/terms/i/initial-coin-offering-ico.asp

[4] https://www.adelphoi.io/

[5] Adel’s cryptocurrency tokens will be created on top of the NXT protocol.

[6] More detailed example here: https://www.thebalance.com/cryptocurrencies-are-changing-capital-raising-process-for-new-companies-4115445

[7] What Initial Coin Offerings are and why VC firms care: https://hbr.org/2017/03/what-initial-coin-offerings-are-and-why-vc-firms-care

[8] https://poloniex.com/

[9] You can find all existing cryptocurrency tokens and their market valuation here: https://coinmarketcap.com/

[10] However, this view may change fairly quickly: https://www.americanbanker.com/news/are-crypto-tokens-securities-by-another-name

[11] http://www.investopedia.com/terms/a/aml.asp

[12] https://bitcointalk.org/index.php?topic=454795.0

[13] Adel establishes LLC in the Isle of Man: http://www.fintech.finance/01-news/adel-establishes-llc-in-the-isle-of-man/

[14] For more detail: https://www.adelphoi.io/content/pdf/wp_3.pdf

[15] A beginner’s guide to smart contracts: https://blockgeeks.com/guides/smart-contracts/

[16] Smart contracts are not smart by nature: https://www.finextra.com/blogposting/12569/smart-contracts-are-not-smart-by-nature

[17] These resources can help with your due diligence: http://startupmanagement.org/2017/03/13/the-ultimate-list-of-ico-resources-18-websites-that-track-initial-cryptocurrency-offerings/

[18] How not to be scammed by an initial coin offering: https://blockgeeks.com/how-not-to-be-scammed-by-a-initial-coin-offering/

Further Reading

▲ Opinion ▲ The Next Evolution in Funding Innovation

▲ Opinion ▲ The Right Path to Funding Decentralized Organizations

Adel ▲ Opinion ▲ The Right Path to Funding Decentralized Organizations

The Right Path to Funding Decentralized Organizations

▲ Fintech Series

By:  Dalibor Cerny, Finance Lawyer, Crypto Enthusiast Gabriel Dusil, Co-founder & Board Member, Adel

Abstract

Financial Technology (Fintech) is one of the fastest developing industries of our time. This article is the first in a series of two articles that explore the dynamics of financing startups and new entrepreneurships, especially in the fintech sector.[1] New company structures are emerging with very innovative features. Recent examples, along with their innovative investment structures, are reflected in startup funding campaigns that use a technology called blockchain.[2] A new enterprise called Adel[3] is a refreshing example of how blockchain is being combined with traditional venture capital seed funding while exposing the challenges and controversial topics apparent in the fintech evolution. In part two of this series, “The Next Evolution in Funding Innovation” we will discuss funding and organizational structures of new digital companies and blockchain ventures.

The DAO

Before getting to fintech challenges, let’s begin with a bit of history. Nearly a year ago, the first major decentralized autonomous organization (DAO),[4] called simply The DAO[5], was launched on the Ethereum[6] blockchain platform. Excitement was so high it created the biggest crowdfunding[7] campaign of all time, raising over USD 150 million (Figure 1).[8] The idea behind The DAO and recent successors[9] was to create a decentralized organization using a tool called smart contracts.[10] These allow for automatic governance and day-to-day decision making using computer code without having traditional human intervention and classical corporate structures in place.

Figure 1: ICOs, Crowd Funds Raised, since 2012[11]

The DAO wanted to offer complete transparency, total stakeholder control, unprecedented flexibility, and autonomous governance. Power would reside in the hands of its stakeholders. These stakeholders would also establish the general direction and mission of the organization and would be democratically voted to reach a consensus on important decisions. In this lies the element of decentralization – there is no central body or authority to exercise the decision making throughout the life of the organization. In theory, this should operate more efficiently than a normal company due to the lack of corporate hierarchy, politics, and bureaucracy, creating obstacles and delays. From this seemingly straightforward setup comes the benefit of lower operational costs and little room for corruption. However, The DAO is already a chapter in the history of blockchain. This ambitious project met its demise almost immediately after its initial coin offering (ICO)[12] when over USD 50 million disappeared from The DAO’s funds. The eventual fallout caused, among other things, a split of the second most popular cryptocurrency token[13] called Ether.[14] This was caused by a successful hack of The DAO exploiting a weakness in their code.[15] Although The DAO ended up in scandal and disappointment, the fintech community definitely didn’t give up on decentralized organizations. Quite the contrary, new projects soon emerged. A number of blockchain incubators came onto the scene throughout 2016 (Figure 1).[16] One notable project, Adel, was announced in December 2016 on this very idea of a decentralized ecosystem with a global reach, centred around an active social networking of its members. In fact, Adel was in development for five months when The DAO’s funding began. Their project will commence funding on May 1st 2017, using the same vehicle as The DAO called an initial coin offering (ICO). The ICO’s purpose is to purchase their Adelphoi (ADL) coin (a cryptocurrency token), which will be used to make transactions within the community. In the future, when their fund vehicle is established, ADL will be used to purchase equity in blockchain projects.

Taking the Right Path

Adel is a platform whose main goal is to develop solutions for implementing blockchain – the heavily discussed technology behind bitcoin. It must be emphasized that there are many use cases exploring the possibility of blockchain, but most of them have not made it past the proof of concept (PoC) stage. Nevertheless, there are indications that the next five years will lay the groundwork for the implementation of this technology across various vertical industries. Blockchain projects will eventually move from PoC to production and cutting-edge solutions will prove their usefulness. Still, the idea of a blockchain incubator is not really the most interesting aspect of Adel. What is most intriguing about Adel is that it shows the potential of the next evolution in how companies may be structured. Adel is potentially a window into the future of how organizations will evolve from the perspective of funding, corporate governance, collaboration, and the meaning behind their existence. When The DAO imploded, many questions arose about the legality of their funding because the process happened in a completely unregulated arena.[17] While startups and governments around the globe are trying to figure out the basic rules of crowdfunding,[18] the crypto community is already funding its new ventures through cryptocurrency tokens. It is clear that regulators have not kept pace with developments in fintech and digital currencies. What is prudent with Adel is that they do not try to appear overly “disruptive”.[19] In fintech, this word has symbolized the destruction of established players with up-and-comers. However, these new players rarely end up replacing existing solutions. What typically happens is a fusion of the old with the new.[20] So disruption is sensitively positioned by Adel as an opportunity, rather than a threat. As in nature itself, fintech must also evolve. It is important to continually innovate and implement new technologies, but what’s more important is to ensure that solutions can be integrated into the fabric of an institution’s political, economic, social and technological infrastructure. The core message is not to disrupt, but to improve efficiency and lower costs. In other words, even if disruption is inevitable, it is not the main goal. Technology seems to evolve with a natural cadence. But from an enterprise perspective, systems are not positioned for aggressive leaps forward. We cannot expect companies to abandon their traditional ways and jump into self-governing DAO-like organizations where funds are unregulated.[21] There is also the human aspect to changes in technology, whereby many managers see new technologies like blockchain as a threat to their corporate existence. They will fight to keep any disruptive technology out of their company for fear of losing their title or position. Finally, there is the cultural aspect. Implementing new technology requires a review of a company’s culture to determine the propensity to change by the staff, and how attempting to implement a new solution may affect the outcome. We agree that old systems may be slow, inflexible, or out of date. But their biggest advantage is reliability. The 150-year-old electrical grid at 220V 50Hz/120V 60Hz might be completely redesigned if it were rethought with today’s requirements. Same goes for the Internet – TCP/IP is well known to be an inefficient protocol, but it works! Incumbent systems have gone through long periods of stress testing and tweaking. The upheaval of legal regulation in banking and traditional financing is a testament to the industry’s wiliness to evolve. It can be argued that we already live in over-regulation and tight governmental control. But that does not change the fact that legacy infrastructures have been tried and tested for decades and are backed by the most powerful entities on the planet: state governments. Human nature is about improving and progressing. We should not forget that just a few years ago, Airbnb or Kickstarter didn’t exist. Now they are household words. The same vantage point can be given to blockchain, except we are many years ahead of this technology from being woven into our daily lives. Adel´s approach lies in the fact that they utilize the best from both worlds – the old and the new.

About the Authors

Dalibor Cerny

Dalibor is an (alternative) finance lawyer, crypto enthusiast and Vipassana meditation practitioner. He has roots in Prague, Czech Republic, where he obtained his PhD. in Private International Law and International Trade Law. He also studied Master of Law (LL.M) in San Francisco, California and International exchange program at Bucerius Law School in Hamburg, Germany. In his professional life, Dalibor is focusing on banking, finance (including alternative finance, crowdfunding, cryptocurrencies and fintech), capital markets, insurance, reinsurance and international trade law. He worked as an attorney and in-house legal counsel for global financial institutions such as AXA and European Investment Bank.

Gabriel Dusil

Gabriel is a seasoned sales and marketing expert with over twenty years of experience in senior level positions at companies such as Motorola, VeriSign (part of Symantec), and SecureWorks (part of Dell). His strengths lie in international business development and strategic partnerships, as well as the unique ability to translate complex ideas and technologies into language that decision makers can easily understand. Gabriel has a Bachelor’s degree in Engineering Physics from McMaster University in Canada and possesses expert knowledge in cloud computing, IT security, and video streaming technologies (Over the Top Content, OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages two blogs: https://dusil.com/ and https://gabrieldusil.com/.

References

[1] This article targets a broad audience without getting too deep into technical, economical or legal jargon. The reason for this approach is to explain the latest activities in fintech in the most accessible way possible, without getting lost in all the technicalities. The authors assume that the general public struggles to keep pace with technical, legal and social media developments and that it is challenging for individuals to orient themselves in the jungle of media overload, fake news, scams and annoying trolls. [2] A very basic visual introduction to the concepts behind a blockchain: https://www.youtube.com/watch?v=_160oMzblY8&t=143s [3] https://www.adelphoi.io/ [4] https://en.wikipedia.org/wiki/Decentralized_autonomous_organization [5] http://www.investopedia.com/articles/insights/051616/why-dao-ethereum-revolutionary.asp [6] https://www.ethereum.org/ [7] What is crowdfunding? https://www.fundable.com/learn/resources/guides/crowdfunding-guide/what-is-crowdfunding [8] https://en.wikipedia.org/wiki/List_of_highest_funded_crowdfunding_projects [9] For example SuperDAO: http://www.superdao.io/#Superdao-nav [10] A beginner’s guide to smart contracts: https://blockgeeks.com/guides/smart-contracts/ [11] https://en.wikipedia.org/wiki/List_of_highest_funded_crowdfunding_projects [12] http://www.investopedia.com/terms/i/initial-coin-offering-ico.asp [13] A gentle introduction to digital tokens: https://bitsonblocks.net/2015/09/28/a-gentle-introduction-to-digital-tokens/ [14] http://www.coindesk.com/ethereum-classic-explained-blockchain/ [15] http://www.coindesk.com/understanding-dao-hack-journalists/ [16] https://letstalkpayments.com/11-blockchain-focused-startup-incubators-as-unconventional-as-the-technology-2/ [17] http://www.livebitcoinnews.com/cryptocurrency-icos-remain-gray-area-legality-concerned/ [18] For example EC on identifying market and regulatory obstacles to crowdfunding in the EU: https://ec.europa.eu/info/tender/identifying-market-and-regulatory-obstacles-cross-border-development-crowdfunding-eu_en or approval of crowdfunding legislation in Australia: https://www.crowdfundinsider.com/2017/03/97541-fintech-australia-welcomes-approval-crowdfunding-legislation/ [19] What disruption really means: https://www.tonyrobbins.com/career-business/what-disruption-really-means/ [20] Example of such: http://spectrum.ieee.org/tech-talk/computing/networks/enterprise-ethereum-alliance-launches [21] More on this thought: https://techcrunch.com/2016/05/16/the-tao-of-the-dao-or-how-the-autonomous-corporation-is-already-here/

Further Reading

▲ Opinion ▲ The Next Evolution in Funding Innovation

▲ Opinion ▲ The Right Path to Funding Decentralized Organizations

Adel ▲ White Paper ▲ Managing the Ecosystem

▲ Management Series

By:   Gabriel Dusil, Co-founder & Board Member, Adel
By:   Michal Vavrek, Founder & Board Member, Adel

Abstract

This document frames the procedures established by Adel for community projects. We discuss the guidelines for proposal submissions, reviews and approvals, as well as management and operational oversight. We also outline fund allocation to approved projects and reward distribution to stakeholders.

Proposals

Project proposals are created and prepared by either the Adel R&D team or submissions from community members, known as Innovators. These will mostly concentrate on blockchain projects that favor global reach and potential. When the proposal originates from the R&D team, the recipients of the rewards will always involve the entire community. Submissions will need to follow the following business planning guidelines to ensure an efficient and streamlined review of the idea:

  • Executive Summary ▲ Presentation that summarizes the project for the Project Review Committee (e.g. PowerPoint, Prezi, or other canvas).
  • Invention Overview ▲ Product, solution, or service.
  • Marketing Strategy ▲ Strategic, tactical and operational goals, market landscape overview, competitive analysis, and unique selling proposition (USP).
  • Sales Strategy ▲ Strategic, tactical and operational goals, monetization possibilities, channels to market, regional focus, and vertical or horizontal market focus.
  • Capital Costs ▲ Research and development, production, and launch costs for the first three years of operation.
  • Operational Costs ▲ Staffing, expertise, operations and management, and a draft organization chart.

In order to stimulate new proposals, the Project Review Committee will manage an idea incubator where all members of the community can enhance their business plans. The R&D team will also be a source of ideas as a service to the community.

If a project idea comes from an individual member of the community, and if the inventor would like their idea to be public, then the project will be treated as if it had been submitted by the Adel R&D team (Figure 1). However, if they wish to maintain ownership of their idea, then it will become an Innovator Project. All the documentation stated above is still required for Innovator Project submissions. Once a project is successful and reaches its targets, or if the project is sold, then the distribution of funds will be divided among shareholders according to the proportion of their Adelshare (ADS) purchases. These rewards may be distributed back to stakeholders in ADL.


Figure 1: Idea Submission to Project Launch

The Project Review Committee will monitor a project’s progress and success metrics. This will include the management of individual project managers who will report to the committee on a weekly or bi-weekly basis. The Project Review Committee reports to the Adel Board on project progress, and community participation will occur on a monthly or bi-monthly basis. The community will see a summary of these activities in the Project Module.

Ethical, moral, and legal standards will be monitored throughout the operation of projects. Violation of the Adel Code of Conduct will be addressed by a committee consisting of staff, Board members and legal experts. If a project is ongoing and successful, then rewards are distributed to holders of Adelshare (ADS) in a particular project.

Approvals

Final approval for every project is based on a community voting result. Members decide if the project will be funded from community funds or passed on to individual funding and become a Group Project. The Board serves as a curator of the community in order to remove unacceptable activities due to legal concerns, impracticality, or if the project violates Adel’s philosophy.

Part of the approval process is the Project Review Committee’s review of all relevant documentation necessary for approval. Cost analysis will be reviewed to determine whether there are sufficient funds necessary for the initial project’s capital, as well as ongoing costs for the first three years of operation. Business plans that are voted on and approved by the community will include acceptance of the business plan, including all costs involved. Funds released for each project will be approved by the Adel Board.

  • Human Resources ▲ With regards to the appointments of responsibility, the security of community funds prevails. Therefore, the members of each project will be identified according to Adel’s Anti-Money Laundering (AML) procedures.
  • Mentoring ▲ Mentoring for each project and its management will be provided by the Board and the project management team in order to maximize the return on capital utilized.
  • Participation ▲ Members will participate in the entire Idea to Project Supply Chain. They can present ideas, help improve on the market viability of the idea, help create the business plan, and solicit their expertise in the employment of a project.
  • Motivation ▲ Motivation for members of the project team will be in the form of rewards and salaries. Some members will also be stakeholders in the project, so this is added motivation to ensure their contribution is successful in the form of project rewards paid to the member in Adelphoi (ADL).
  • Employment ▲ The project team will be selected from knowledgeable experts within the community who have demonstrated expertise in the project’s respective area(s). If expertise cannot be sourced within the community, then the role will be filled by an external candidate.
  • Project Management ▲ Management of the overall project portfolio will be monitored by a Project Manager who will report to the Project Review Committee.

About the Authors

Gabriel Dusil

Gabriel is a seasoned sales and marketing expert with over twenty years of experience in senior level positions at companies such as Motorola, VeriSign (part of Symantec), and SecureWorks (part of Dell). His strengths lie in international business development and strategic partnerships, as well as the unique ability to translate complex ideas and technologies into language that decision makers can easily understand. Gabriel has a Bachelor’s degree in Engineering Physics from McMaster University in Canada and possesses expert knowledge in cloud computing, IT security, and video streaming technologies (Over the Top Content, OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages two blogs: https://dusil.com/ and https://gabrieldusil.com/.

Michal Vavrek

Michal is an entrepreneur with international experience specializing in global business development and project management. He graduated from Indiana University’s Kelley School of Business with a degree in Finance and International Business and worked in various capacities in New York, Zurich and Prague. Michal is an active cryptocurrency entrepreneur with an extensive background in Forex algorithmic trading strategies and is always seeking new opportunities that maximize blockchain technologies.

Further Reading

1. Building a Decentralized Ecosystem

http://wp.me/p3eaA5-ifv

In this white paper, we discuss the phased rollout of Adel’s ecosystem. The first phase includes the launch of Adel through an initial coin offering (ICO). Phases two and three will focus on building and managing the community.

2. An Incubator for Blockchain Technology

http://wp.me/p3eaA5-ifI

This paper provides an overview of Adel and its ecosystem. We outline how the community can interact with Adel’s staff, as well as activities surrounding project submission, approvals, and operations.

3. Responsibilities in a Crypto-economy

http://wp.me/p3eaA5-ifT

Adel is a community where every member is connected through token participation and voting. This paper outlines the roles and responsibilities of community participants, including its members, project managers and Adel’s leadership.

4. Creating Value with Cryptocurrency

http://wp.me/p3eaA5-ig9

This white paper outlines Adel’s advantages from three vantage points: its underlying blockchain technology, the Nxt and Ardor platforms from which Adel is built, and the additional business processes Adel has introduced to provide effective, community-based funding.

5. Differentiation in the FinTech Revolution

http://wp.me/p3eaA5-igm

In this paper, we discuss existing cryptocurrency technologies that are available today by providing an overview of the blockchain marketplace and Adel’s position within it.

6. Maintaining Integrity

http://wp.me/p3eaA5-igq

This white paper outlines the principles of a community-based ecosystem and how this can be sustainable and profitable using cryptocurrencies as its foundation.

7. Inspiring Innovation

http://wp.me/p3eaA5-ih8

Spontaneity and creativity is impeded by a heavily formalized process which has been established by sizeable institutions that have evolved over many decades of operation. We outline how Adel will change the investment landscape and inspire technological innovation.

8. Protecting the Community

http://wp.me/p3eaA5-ihc

In this paper, we outline established procedures to mitigate risk to Adel’s ecosystem while protecting its brand, infrastructure, and the integrity of blockchain solutions.

9. Managing the Ecosystem

http://wp.me/p3eaA5-ihg

This document frames the procedures established by Adel for community projects. We discuss the guidelines for proposal submissions, reviews and approvals, as well as management and operational oversight. We also outline fund allocation to approved projects and reward distribution to stakeholders.

10. Designing a Blockchain Incubator

http://wp.me/p3eaA5-ihB

In our continued efforts to communication Adel’s vision, this white paper expands our three-phase roadmap explained in White Paper #1, “Building a Decentralized Ecosystem”. We have now included our timescales to list ADL on exchanges, the introduction of our Adelshare (ADS), move to Ardor, and project execution (phase 3).

Adel ▲ White Paper ▲ Protecting the Community

▲ Management Series

By:   Travin Keith, Marketing and Blockchain Advisor, Adel
Gabriel Dusil, Co-founder & Board Member, Adel

Abstract

In this paper, we outline established procedures to mitigate risk to Adel’s ecosystem while protecting its brand, infrastructure, and the integrity of blockchain solutions.

Risks

This section will go over some of the risks that Adel faces from a community perspective and how it plans to face them.

  • Collusion ▲ While it is impossible to fully remove the chance of unethical collusion, Adel has taken measures to mitigate this risk. For example, any suspected collusion or other nefarious behavior will result in the community member being blacklisted. Stakeholders that collude to damage Adel in any way only serve to damage themselves as they also have a vested interest in the community’s success. The paradox is this: in order to have a significant impact on the community voting system, this individual would require a sizable amount of Adelphoi to influence the voting outcome, thus increasing their exposure and risk.
  • Fraud ▲ A certain level of trust is necessary within the community in order to approve, launch, and operate projects. This is especially true since every action is not on the blockchain itself. As stated under Fiduciary Integrity in the next section, steps will be taken with project leaders and staff to ensure that all projects are carried out efficiently, legally, and profitably. However, the risk of members behaving fraudulently still exists. For this reason, Community Code arbitration will be established with the board’s assistance.
  • Manipulation ▲ Voting fraud and manipulation will be eliminated by only revealing voting results after the voting window has closed. In addition, only stakeholders with a minimum amount of Adelphoi will be invited to the community to become community members. Furthermore, community members will vote based on the proportional weight of Adelphoi they hold. This will prevent fraudsters from creating multiple accounts in order to sway the community vote.
  • Abuse ▲ Moderators will maintain order to prevent spammers from taking over a discussion for specific projects or in the Adel community’s general discussion area. These moderators will be selected in terms of their incentive to keep their respective forum discussions free from spammers, as well as their ability to do so. If an abuse of power has been demonstrated by the moderator, then the issue will be reviewed in order to determine an appropriate course of action. Community members may be blacklisted if forum rules are not met or moderator warnings are not obeyed.
  • Confirmation Bias ▲ A confirmation bias is where people remember something in a way that confirms their own pre-existing belief. However, that belief may still be wrong. This can become an issue throughout the various decision processes in Adel where a community argument ensues because of a past decision or event. To avoid this issue, there will be a log of important events in the ecosystem, as well as a logged chat room. Furthermore, all voting decisions will be logged on the blockchain.
  • Money Laundering ▲ This refers to income with no regulation to maximize profits for as little cash outflow as possible. Money is accumulated through illegal means and flows into socio-economically productive industries. Adel’s philosophy is to follow regulatory compliance around Anti-Money Laundering (AML), and to ensure that community participants adhere to these procedures. It is of the utmost importance that the team, the community, and the Adel brand are protected.
  • Terrorism Financing ▲ Adel’s compliance to AML will mitigate risk to Counter-Terrorism Financing (CTF) by requiring all members of the community to be identified through AML guidelines. The exchange of financial information under CTF rules ensures the protection of the Adel ecosystem and assists law enforcement in their fight against terrorism.

Security

In this section, we will outline procedures created by Adel to mitigate harm to the integrity of its ecosystem, to Adel as a brand, and to the infrastructure created, all in order to realize Adel’s project goals.

  • Code of Conduct ▲ The Project Review Committee will ensure that projects comply with Adel’s Code of Conduct, which includes its ethical and integrity framework, together with the Adel Board. In addition, the distribution of salaries or capital gains cannot be fully automated and will require manual actions. Where people are involved, some trust will always be necessary. Trust is inherent in the operational oversight of each project. A level of trust is established with project leaders, experts, and operational staff, in order to successfully deliver on the project’s goals. Community members will not be anonymous in an effort to mitigate risk. They will be required to reveal their identity when they enter the Adel community.
  • Leadership ▲ The board will adhere to the Code of Conduct at all times. Any breach of the code will be dealt with a review procedure conducted by an impartial team. The results of the procedure will determine the proper course of action. All reviews will be handled on a case-by-case basis while taking into consideration previous decisions made. In more serious cases, the board can decide to suspend or remove a member. All board members and staff are required to sign and adhere to the Code of Conduct.
  • Technology ▲ The blockchain used by the Adel ecosystem will initially be the Nxt platform, and will move to Ardor once it is deemed suitable. Because of this, the security of projects and the ecosystem itself will be dependent on the security of Nxt. To ensure platform resilience and integrity, Adel will maintain a strong relationship with Jelurida, the Nxt and Ardor core development team, as well as the community itself. In cases where Adel can be of assistance to the platform, Adel will contribute resources to protect the integrity of the platform.
  • Community ▲ Adel will establish an open and productive communication channel with the community. Integrity will be established through a Community Code that will be agreed upon by each member as soon as they join the community. Abuse, negligence, or any unethical behavior will be investigated and may result in the community member being blacklisted from the forums, voting, or project participation.
  • Fiduciary ▲ While Adel is working to eliminate the need for trusted third-party authorities, there are some cases where trust is necessary – especially with actions external to the blockchain. For example, the approval of projects will be initially submitted to a Project Review Committee. This will include members that have expert oversight in venture capital investments, as well as legal, operational, and technical expertise.
  • Know Your Customer, KYC ▲ Project managers, the board, and staff members will demonstrate due diligence to the best of their abilities to ensure projects comply with legal and regulatory requirements. If further legal advice is required, the community will be solicited for their expertise and will have their credentials assessed. If none are available, then assistance outside of the community will be sought and brought in. Projects that do not satisfy legal and regulatory requirements will either be rejected or modified during the assessment process.

Protection

Integrity is one of Adel’s most important values. At Adel, we are dedicated to delivering a secure and trustworthy platform for community members so they can safely participate in the ecosystem. It is important that the actions we take as leaders of the community deliver on that goal. Adel’s staff will contribute their time and expertise to continually manage and improve the ecosystem. We are committed to helping our community succeed by operating legally and ethically in accordance to any applicable laws and regulations. Adel believes that in adhering to these principles we not only protect the Adel brand, community and its members, but also serve to protect the integrity of “blockchain as a brand”, as well as innovative projects that will be introduced to society and leverage this new technology.

About Adel

Adel is a technology incubator for blockchain innovation.

  • Adel is a global cryptocurrency community that is self-sustained and offers its own economic ecosystem with the Adelphoi token. Our community focuses on creating, developing and implementing use cases involving blockchain technology that covers a wide range of digital and physical industries. Supported projects are developed, discussed and decided by community members.

About the Authors

Gabriel Dusil

Gabriel is a seasoned sales and marketing expert with over twenty years of experience in senior level positions at companies such as Motorola, VeriSign (part of Symantec), and SecureWorks (part of Dell). His strengths lie in international business development and strategic partnerships, as well as the unique ability to translate complex ideas and technologies into language that decision makers can easily understand. Gabriel has a Bachelor’s degree in Engineering Physics from McMaster University in Canada and possesses expert knowledge in cloud computing, IT security, and video streaming technologies (Over the Top Content, OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages two blogs: https://dusil.com/ and https://gabrieldusil.com/.

Travin Keith

Travin is a seasoned marketer who specializes in web and international marketing. He has worked with over a hundred businesses around the world spanning a wide range of industries. Since 2013, Travin has been involved with cryptocurrencies as a trader, investor, marketer, and community member. He joined the Nxt Foundation as a board member in 2016, serving as its Marketing Director and a Blockchain Consultant, as well as the representative to Hyperledger, a Linux Foundation Project.

Further Reading

1. Building a Decentralized Ecosystem

http://wp.me/p3eaA5-ifv

In this white paper, we discuss the phased rollout of Adel’s ecosystem. The first phase includes the launch of Adel through an initial coin offering (ICO). Phases two and three will focus on building and managing the community.

2. An Incubator for Blockchain Technology

http://wp.me/p3eaA5-ifI

This paper provides an overview of Adel and its ecosystem. We outline how the community can interact with Adel’s staff, as well as activities surrounding project submission, approvals, and operations.

3. Responsibilities in a Crypto-economy

http://wp.me/p3eaA5-ifT

Adel is a community where every member is connected through token participation and voting. This paper outlines the roles and responsibilities of community participants, including its members, project managers and Adel’s leadership.

4. Creating Value with Cryptocurrency

http://wp.me/p3eaA5-ig9

This white paper outlines Adel’s advantages from three vantage points: its underlying blockchain technology, the Nxt and Ardor platforms from which Adel is built, and the additional business processes Adel has introduced to provide effective, community-based funding.

5. Differentiation in the FinTech Revolution

http://wp.me/p3eaA5-igm

In this paper, we discuss existing cryptocurrency technologies that are available today by providing an overview of the blockchain marketplace and Adel’s position within it.

6. Maintaining Integrity

http://wp.me/p3eaA5-igq

This white paper outlines the principles of a community-based ecosystem and how this can be sustainable and profitable using cryptocurrencies as its foundation.

7. Inspiring Innovation

http://wp.me/p3eaA5-ih8

Spontaneity and creativity is impeded by a heavily formalized process which has been established by sizeable institutions that have evolved over many decades of operation. We outline how Adel will change the investment landscape and inspire technological innovation.

8. Protecting the Community

http://wp.me/p3eaA5-ihc

In this paper, we outline established procedures to mitigate risk to Adel’s ecosystem while protecting its brand, infrastructure, and the integrity of blockchain solutions.

9. Managing the Ecosystem

http://wp.me/p3eaA5-ihg

This document frames the procedures established by Adel for community projects. We discuss the guidelines for proposal submissions, reviews and approvals, as well as management and operational oversight. We also outline fund allocation to approved projects and reward distribution to stakeholders.

10. Designing a Blockchain Incubator

http://wp.me/p3eaA5-ihB

In our continued efforts to communication Adel’s vision, this white paper expands our three-phase roadmap explained in White Paper #1, “Building a Decentralized Ecosystem”. We have now included our timescales to list ADL on exchanges, the introduction of our Adelshare (ADS), move to Ardor, and project execution (phase 3).

Adel ▲ White Paper ▲ Inspiring Innovation

▲ Management Series

By:  Jan Lamser, Co-founder & Board Member, Adel
Gabriel Dusil, Co-founder & Board Member, Adel

Challenges in Contemporary Economics

In most of the developed world, people enjoy improved health, relatively stable economics, unrestricted access to information, and a dynamic increase in personal freedom. However, as the force of globalization has increased over the past decades, we have paradoxically created a gap between individuals and communities, as well as between personal and social identities.

This is particularly the case where money is an underlying driver or motivational factor. The control of monetary policy and national budgeting, as well as project-specific investment allocation and respective yields, are confined to licensed experts who are largely regulated and centralized. These professionals are attuned to the prevailing globalization paradigm. Some of these authorities, by attempting to portray stability and growth, generate gigantic budget deficits which have the paradoxical effect of creating market volatility and instability in the longer term. By trying to mask the issues, they ignore real economic problems and create new instability. The Greek public debt resolution[i] and Jean-Claude Juncker’s (European Commission President) plans of exorbitant public spending[ii] are just two examples. The regulatory framework for banking, investments, and the economy as a whole is nominally aiming at maintaining stability. However, such protection can be seen as little more than a precursor to control, exclusion, and the formation of a technocracy[iii]. As a result, financial resources are deployed through the complex hierarchical structures of stock exchanges, banks, and fund management. This system is caught in a prevailing technocratic paradigm with very little opportunity for individuals to influence out-of-the-box thinking and FinTech proposals. As a result of this rigid structure, many entrepreneurial initiatives have limited access to institutionalized investment funding. Spontaneity and creativity is impeded by a heavily formalized process, established by sizeable institutions that have evolved over the last couple of centuries. Because of this, innovation is impeded as entrepreneurs are required to follow an arduous, compliance-based paradigm.

There is currently a lack of flexible investment options that allow a new project to pool enough resources to gain critical financial support and, at the same time, establish constructive influence and involvement over how they are deployed. A good idea, or successful project outside the mainstream, may not be able to access the funding opportunities that a more traditional, less disruptive project will have access to. Furthermore, projects that threaten monopolies in established markets run the risk of being trampled by large companies with seemingly endless legal resources or lobbying influences. This has resulted in many innovative or disruptive ideas being disqualified from investment consideration. The oil industry’s efforts to stifle electric car innovation throughout the second half of the twentieth century is just one example[iv]. Another is the systematic destruction of urban rail systems in the US at the beginning of the 20th century. As a consequence, the ability to borrow or invest is compromised or restricted for some projects. The adage “Neither a borrower nor a lender be”[v] rings true in regards to this particular form of exclusion. The choice, therefore, is not between the innovator or investor, but between risk management policies and/or political affiliations.

There are a number of attempts to circumvent these obstacles, such as crowdfunding websites like kickstarter.com which launched in 2009, as well as P2P lending schemes[vi]. Nevertheless, systems that can pool resources to finance viable, innovative projects on a larger scale and redeploy these resources gradually have not been created thus far.

Opportunities for a Distributed Ledger

A distributed public ledger using blockchain technology in combination with cryptocurrency fills an opportunity gap in today’s investment environment. Adel provides such a platform and is underpinned by a community-based scheme that combines elements of:

  • Venture Capital
  • Collective Intelligence
  • Participatory Economy
  • Co-working Entrepreneurship
  • Code of Ethics and Integrity
  • Cryptocurrency Technology

Adel will be built on the Nxt platform and will move to Ardor when suitable. This provides a robust infrastructure for this ecosystem. Adel allows stakeholders to pool financial resources using cryptocurrency. This eliminates traditional intermediaries and focuses momentum on projects decided by the community. At the same time, this model allows a majority consensus to co-exist with projects supported by only a minority of the community. With the decision power in the hands of the community, activities and decisions related to business, both analytical and operating, are controlled within the ecosystem. However, external professionals and associations outside of the ecosystem will be solicited to improve performance where necessary.

Distinctive Features of Project Funding

Adel provides a dynamic platform of entrepreneurship, freedom, management, communication and technology. The team has experience and expertise across multiple areas of business, as well as backgrounds and successful track records in various industries. As a community-based ecosystem, Adel will create an open architecture for joint entrepreneurship and challenge contemporary business principles. The unique structure of Adel is as follows:

  • Open Economic Interactions ▲ This allows certain roles that have been standard in classic investment vehicles to be eliminated (i.e. fund managers, brokers and auditors). Thanks to the distributed ledger system, many of these roles are no longer necessary as many administrative tasks can be automated through the use of the secure Nxt blockchain system. Administration overhead is thus decreased, leading to a much higher degree of agility and versatility. There is individual and community supervision on resource deployment, while maintaining a high standard of compliance and fiduciary accountability. Individual expertise and responsibility is also solicited for specific contributions without agency intervention.
  • Scrutinizing Outdated Assessment Processes[vii] By facilitating collective deliberations, Adel has the agility to filter social biases, political ideologies, and traditional economic beliefs. These are deeply ingrained preconceptions that could negatively influence the viability of new ideas. In some cases, they severely undercut innovation and the resources available to support them. Resource pooling with Adel is designed to be free of such indoctrinated ideologies. Adel institutionalizes the evaluation and relevance of ideas based on a pool of engaged individuals and their perspectives. This collective accountability allows for the funding of initiatives that may be legitimately rejected by a majority, but agreed upon by a select minority who may choose to maintain a vested interest in the project.
  • Cryptocurrency Roots ▲ Rooted in the distributed ledger, as well as blockchain and cryptocurrency communities, Adel does not derive its value from fiat currencies. While not rejecting the concept of fiat value, Adel´s approach is more nuanced and versatile. Adel allows for a larger set of funding possibilities for a given project proposal, including large or smaller group contributions[viii]. Adel opens up opportunities for new ideas and projects and potentially enhances their chances of success through intense interaction and community wisdom, all while securing communal or sub-communal resources and support.
  • Collective Intelligence ▲ The formula that Adel subscribes to is People, Process, and Technology. This contrasts with prevailing beliefs that technology alone leads to success. It is human nature to be suspicious of individual motivations and personal agendas, but project resources require human engagement, both in selling the business case and in the launch and operational functions of the project. At Adel, the experience and involvement of individuals is subject to communal approval and will be monitored by the Project Review Committee.
  • Expert Knowledge ▲ Cognitive science has shown that combined schemes which engage both experts and collective groups are the most effective. This has proven to be superior to alternatives that give full authority to an expert or leader or the community alone[ix]. Adel combines effective managers, individual experts, and a participative community. In an entrepreneurial context, this provides a balance of analytics, integrity and prudence, all of which contribute to the success of the ecosystem.
  • International Community ▲ Adel is a global platform that aggregates disparate parties interested in joint innovation. Participation is set by the Code of Conduct which is entirely non-discriminatory. Its main purpose is to ensure legal and regulatory compliance. This not only protects the Adel brand, but the integrity of the blockchain initiative and its reputation as well.

While Adel is driven by a team with European roots, its ambition is global. Project participation may involve contributing as an analyst, technology expert, fiduciary enforcer, manager, developer, or back-office participant, to name but a few. This community model enables participation from individuals who have local cultural experience and/or industry expertise. Adel enables innovation through resource placement in all phases of project development, encouraging experts, project leaders and controllers to both invest and participate in the community in a role that advances the development of a particular project.

Built for Innovation

Adel is inspired by the social structures that have evolved from a distributed public ledger and related blockchain applications. This community is relatively independent of collective governmental bodies by design. If certain jurisdictions become involved, the community can call on parties with appropriate skills and expertise to act on its behalf when there are none in the community who are capable or willing. Adel will have a constantly open dialog with the community while relying on its wisdom and expertise.

Adel represents a number of unique funding features. While associated with cryptocurrency, venture capital, startup incubation, and a cooperative platform, Adel is, above all, a technology-driven means for experts to collaborate. There are support systems in place to assist with successful project execution while acting as a distributed ecosystem in terms of process, procedure and power.

About Adel

Adel is a technology incubator for blockchain innovation.

  • Adel is a global cryptocurrency community that is self-sustained, and offers its own economic ecosystem with the Adelphoi token. Our community focuses on creating, developing and implementing use cases involving blockchain technology that covers a wide range of digital and physical industries. Projects are chosen by the community and successful ventures are either re-invested in for further growth or issued as rewards to Adel’s stakeholders.

About the Authors

Jan Lamser, Co-founder

Jan served for twenty years as a Senior Executive Officer and Board Member at Československá obchodní banka, a.s. (part of the KBC Group), the #1 commercial banking institution in the Czech Republic. He is one of the best business strategists in the region with a reputation for visionary talent and abilities. Jan is a FinTech entrepreneur and leading spokesperson for blockchain innovation in Central and Eastern Europe. He is also an associate of the Czech FinTech Association (CEFTAS), Deputy Chairman of the Institute of Computer Science, and has authored several articles on distributed open ledger technologies.

Gabriel Dusil

Gabriel is a seasoned sales and marketing expert with over twenty years of experience in senior level positions at companies such as Motorola, VeriSign (part of Symantec), and SecureWorks (part of Dell). His strengths lie in international business development and strategic partnerships, as well as the unique ability to translate complex ideas and technologies into language that decision makers can easily understand. Gabriel has a Bachelor’s degree in Engineering Physics from McMaster University in Canada and possesses expert knowledge in cloud computing, IT security, and video streaming technologies (Over the Top Content, OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages two blogs: https://dusil.com/ and https://gabrieldusil.com/.

Resources

[i] “Explaining Greece’s Debt Crisis”, 16th June, 2016, http://www.nytimes.com/interactive/2016/business/international/greece-debt-crisis-euro.html?_r=0

[ii] “Germany plans €10bn extra public spending”, By Stefan Wagstyl, 6th November, 2014, http://www.ft.com/cms/s/0/a973366a-65dd-11e4-898f-00144feabdc0.html#axzz4JHxgV7MT

[iii] The self-referencing nature and overwhelming power of technology – oriented rationality as predicted in mid-20th century by Horkheimer, Adorno, Heidegger and others – is about to come true in contemporary global finance.

[iv] “Who Killed the Electric Car?”, Wikipedia, https://en.wikipedia.org/wiki/Who_Killed_the_Electric_Car%3F

[v] Act I, Scene III of William Shakespeare’s play, “Hamlet”.

[vi] “30 Peer-to-Peer Lending Experts Reveal Their Top 3 Investing Tips”, by Warren Lee, http://thelendingmag.com/peer-to-peer-lending/

[vii] Paraphrasing Adorno´s key book on contemporary rationality, Adel promotes “negative economic dialectics”. This means that Adel stands against ideologies embedded in contemporary economic global frameworks.

[viii] As opposed to mainstream economic frameworks dwelling on the ideology of economic equilibrium, Adel is inspired by Schumpetrian thinking which underscores the creative power of free innovation. Destructive and outdated business concerns portraying instability as a natural state of the economy are avoided.

[ix] http://www.nasa.gov/centers/goddard/about/organizations/OCKO/casestudies/#.V8CH0Zh97uo

https://en.wikipedia.org/wiki/History_of_banking

https://en.wikipedia.org/wiki/General_Motors_streetcar_conspiracy

Further Reading

1. Building a Decentralized Ecosystem

http://wp.me/p3eaA5-ifv

In this white paper, we discuss the phased rollout of Adel’s ecosystem. The first phase includes the launch of Adel through an initial coin offering (ICO). Phases two and three will focus on building and managing the community.

2. An Incubator for Blockchain Technology

http://wp.me/p3eaA5-ifI

This paper provides an overview of Adel and its ecosystem. We outline how the community can interact with Adel’s staff, as well as activities surrounding project submission, approvals, and operations.

3. Responsibilities in a Crypto-economy

http://wp.me/p3eaA5-ifT

Adel is a community where every member is connected through token participation and voting. This paper outlines the roles and responsibilities of community participants, including its members, project managers and Adel’s leadership.

4. Creating Value with Cryptocurrency

http://wp.me/p3eaA5-ig9

This white paper outlines Adel’s advantages from three vantage points: its underlying blockchain technology, the Nxt and Ardor platforms from which Adel is built, and the additional business processes Adel has introduced to provide effective, community-based funding.

5. Differentiation in the FinTech Revolution

http://wp.me/p3eaA5-igm

In this paper, we discuss existing cryptocurrency technologies that are available today by providing an overview of the blockchain marketplace and Adel’s position within it.

6. Maintaining Integrity

http://wp.me/p3eaA5-igq

This white paper outlines the principles of a community-based ecosystem and how this can be sustainable and profitable using cryptocurrencies as its foundation.

7. Inspiring Innovation

http://wp.me/p3eaA5-ih8

Spontaneity and creativity is impeded by a heavily formalized process which has been established by sizeable institutions that have evolved over many decades of operation. We outline how Adel will change the investment landscape and inspire technological innovation.

8. Protecting the Community

http://wp.me/p3eaA5-ihc

In this paper, we outline established procedures to mitigate risk to Adel’s ecosystem while protecting its brand, infrastructure, and the integrity of blockchain solutions.

9. Managing the Ecosystem

http://wp.me/p3eaA5-ihg

This document frames the procedures established by Adel for community projects. We discuss the guidelines for proposal submissions, reviews and approvals, as well as management and operational oversight. We also outline fund allocation to approved projects and reward distribution to stakeholders.

10. Designing a Blockchain Incubator

http://wp.me/p3eaA5-ihB

In our continued efforts to communication Adel’s vision, this white paper expands our three-phase roadmap explained in White Paper #1, “Building a Decentralized Ecosystem”. We have now included our timescales to list ADL on exchanges, the introduction of our Adelshare (ADS), move to Ardor, and project execution (phase 3).

Adel ▲ Motion Graphics ▲ Infographics

Adel has released its third motion graphic video, showcasing a selection of our infographics. We have also published several white papers on our website outlining our vision for a community-based incubator for blockchain innovation. Join our Initial Coin Offering (ICO) on the 1st of May 2017, and participate in the creation and ownership of cutting-edge blockchain solutions that will change the world.

Checkout our website at www.adelphoi.io, and our other videos in the “Why Us” section.

 

Home - Signature, Gabriel Dusil ('12, shadow, teal)

Gabriel Dusil
Co-Founder & Board member, Adel

Adel Motion Graphics

▲ Story

▲ Launch

▲ Infographics

Adel ▲ White Paper ▲ Maintaining Integrity

adel-white-paper-icons-v2-3_6

▲ Identity Series

By: Gabriel Dusil, Co-founder & Board Member, Adel
By: Travin Keith, Marketing & Blockchain Advisor, Adel

Abstract

This white paper outlines the principles of a community-based ecosystem and how this can be sustainable and profitable using cryptocurrencies as its foundation.

Manifesto

Adel

Adel is guided by a transparent and open economy. This ideology gives control back to the community and allows for any member to audit, scrutinize, and improve the ecosystem. This economy protects against negligent behavior as transactions, decisions, and the lifecycle management of projects are visible and auditable by the entire community.

A Community-based Funding Platform

Adel believes in the future of cryptocurrency and blockchain technology. We believe in connecting this technology to projects both inside and outside the digital world. Our goal is to increase and sustain the value of cryptocurrencies by deriving value from the ownership and management of businesses and projects. This will be achieved by creating a secure platform where projects can be proposed, evaluated, and approved by community members. These projects will take the form of technology projects, blockchain innovation, or cutting-edge businesses. Adel’s projects will create opportunities for employment, participation, and innovation. Project teams within the community will work together to sustain the value of Adelphoi through profitable projects that benefit all members within the community.

The State are the People & the People are the State

As a self-sustaining macroeconomic ecosystem, Adel will utilize the benefits of a decentralized technology and community. The decision-making process will capitalize on the community’s knowledge to collectively make the best decisions possible while maintaining strong integrity, ethics, and business principles as overseen by the Adel Board. In this ecosystem, the Adel Board will act in an advisory role, providing services that protect and care for its community, while enforcing the rules that protect the Adel brand and the integrity of its blockchain. The ecosystem will be self-sustaining and efficient in economic terms. Leaders will be appointed in a way that maximizes resources, i.e. with the highest level of expertise, integrity, and due diligence. Profits will either be reinvested or paid back to community members, thus enhancing the economy and providing incremental value to its community. Socialization and collective responsibility are basic principles that will help stimulate success.

Nxt

After extensive research, which included the evaluation of different cryptocurrencies and blockchain technology platforms, Adel decided to build on the Nxt platform – a blockchain with features that expand the functionality of pioneering cryptocurrencies such as Bitcoin. These features include Shuffling, Voting, Aliases, and Phasing. The source code for Nxt has also been publicly disclosed, optimized, and perfected using (among other techniques) the Error Propagation Method, where the investigation and awarded discovery of deliberately inserted errors serves to help audit the source code itself.

Adel will move to Ardor, the multi-chain development of Nxt, in late 2017. Like Nxt, Ardor will have features that enhance the functionality of blockchain technology, making it an ideal platform for future projects.  The Ardor child chain architecture will allow for the easy creation of a dependent blockchain that will be connected to and secured by the main Ardor blockchain. Ardor also solves scalability issues with a pruning feature so that future nodes will only download and keep transaction records on the main chain, as well as child chain transactions from the past 24 hours. However, it is still possible for child chain transactions to be kept, if so desired, with the use of an archival node that keeps all of the transaction records. This scalability is one of the ‘Holy Grails’ of cryptocurrency and blockchain development.

Nxt has already revolutionized the world of blockchain technology platforms by providing groundbreaking cryptocurrency features, as well as a powerful, modular toolset to build innovative business opportunities. All of Nxt’s functionality will be present in the Ardor platform, in addition to the advanced features (such as global scalability) that the Ardor multi-chain architecture will provide.

Philosophy

The following guidelines represent Adel’s philosophy regarding the operation of its community and projects. This philosophy ensures consistency of thought across the Adel ecosystem, as well as within the wider blockchain ideology and principles.

Decentralized

Our philosophy is global, so it applies to all levels of management and all geographic locations. We expect partners who are acting on our behalf to also adhere to equally high standards. We will continue to seek out business partners that share our beliefs. In addition, the Adel Board has a special responsibility to lead with integrity in ways that reflect positively on Adel’s overall project.

  • International ▲ Adel is a decentralized global ecosystem, proudly employing staff and serving customers all over the world. Our Code of Conduct applies to all of Adel. It embraces diversity and respects cultural differences.
  • Community ▲ All community members must follow our policies and ethical principles as soon as they accept our Community Code upon registration.

Transparent

We value openness and transparency. We keep our commitments to each other, our community, and our partners. Our Code of Conduct is signed by all members of the Adel staff. This code outlines the policies of Adel and includes our ethical principles.

Trusted

Adel will endeavor to programmatically minimize or otherwise remove the possibility of individuals manipulating the voting module to their advantage and compromising the integrity of the Adel community and its projects.

  • Trust is not Assumed ▲ The community will be able to audit the platform and projects, as well as create applications that can programmatically audit activities.
  • Restrictions ▲ The Adel Board and staff cannot vote on projects. Once a project has been approved by the Project Review Committee, only the community can vote on its approval. This is to remove any bias of the Adel staff from the community’s decision.
  • Safeguards ▲ To avoid voting manipulation, results will only be available after the voting deadline. In addition, voting weight will be established at the time of the voting deadline. This way, voters trading their Adelphoi during the voting window will not have any voting influence since their vote will only be weighted at the date and time of when the voting window has closed. Also, it will not limit new community members who have joined during the voting window and wish to vote on a specific project.
  • Blacklist ▲ A blacklist of community members will be established. In cases of suspected fraud or manipulation of the voting system. Those community members will be added to the blacklist, resulting in future voting restrictions and other limitations in community activities. Arbitration procedures will be established for those that dispute their addition to the blacklist.

Efficient

  • Mitigating the Need for Trusted Third Parties ▲ Adel will provide a platform that can be auditable by anyone who is a community member. In environments, such as healthcare, insurance, IT security, banking, and others where user data is concerned, some data protection, and privacy compliance will be necessary. For these projects, encryption, data anonymization, and other technical solutions will be utilized to meet regulatory requirements.
  • Mitigating Intermediaries ▲ Adel supports minimum transaction fees as part of the Ardor platform architecture. Adel will minimize the need for “middle men” in order to simplify the platform architecture where possible and minimize unnecessary transaction fees or skimming

Open Source

Where possible, systems will be free of proprietary solutions such as patents and other forms of intellectual property protection. The overall business processes and structures will be transparent to community members. The core Adel development code will be available under an open source license.

Distributed

Control will remain with the community and not a governing power. The Adel Board will act as a curator by providing leadership and filtering projects that violate Adel’s Code of Conduct. Adel’s Project Review Committee (PRC) will also provide guidance, options and suggestions, but the final decision will be made by the community. The PRC will also evaluate and approve projects, as well as participate in forums to discuss projects with the community.

  • Mitigating Centralized Control ▲ Adel will have a decentralized organization and platform of voting, project submission and project execution.
  • Mitigating Single Point of Failures ▲ Adel supports a distributed system architecture with high availability and redundancy where a Cost versus Risk balance is justifiable. Since Adel will run on the Nxt blockchain, all of the information pertaining to Adel will be secure. Blockchains have a massive amount of redundancy as one of its key traits, thus eliminating the need for an external backup system.

Private

Adel will be designed from the ground up to prevent external parties from collusion, fraud, extortion, or the manipulation of Adel and its community. Adel will continue to protect its community from activities that violate its Code of Conduct.

  • Mitigating Violation of Privacy ▲ The Adel community, will maintain privacy of its clients, partners and members where possible, while meeting regulatory compliance to Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF) and Know your Customer (KYC).

Principled

We use our values and ethical principles as decision filters to guide our behavior. We will turn down any business that is illegal, unethical or otherwise violates our philosophy.

  • Partnerships ▲ We expect all of our business partners to hold themselves to an equally high standard. We choose partnerships that share our values and high standards regarding legal and ethical business practices. We won’t let anyone damage our reputation or our brand by acting illegally or unethically in Adel’s name.

Ethical

Integrity is one of Adel’s most important values. At Adel, we are dedicated to delivering a secure and trustworthy platform for community members so they can safely participate in the ecosystem. It’s important that the actions we take as leaders of the community deliver on that goal. Adel’s staff will contribute their time and expertise to continually manage and improve the ecosystem.

Adel is committed to helping our community succeed by operating legally and ethically in accordance with any applicable laws and regulations. Adel believes that in adhering to these principles we not only protect the Adel brand, community, and its members, but also serve to protect the integrity of blockchain as a brand, and the innovative projects that will be introduced to society.

About Adel

Adel is a technology incubator for blockchain innovation.

  • Adel is a global cryptocurrency community that is self-sustained, and offers its own economic ecosystem with the Adelphoi token. Our community focuses on creating, developing, and implementing use cases involving blockchain technology that covers a wide range of digital and physical industries. Projects are chosen by the community and successful ventures are either re-invested in for further growth or issued as rewards to Adel’s stakeholders.

About the Authors

Gabriel Dusil

Gabriel is a seasoned sales and marketing expert with over twenty years of experience in senior level positions at companies such as Motorola, VeriSign (part of Symantec), and SecureWorks (part of Dell). His strengths lie in international business development and strategic partnerships, as well as the unique ability to translate complex ideas and technologies into language that decision makers can easily understand. Gabriel has a Bachelor’s degree in Engineering Physics from McMaster University in Canada and possesses expert knowledge in cloud computing, IT security, and video streaming technologies (Over the Top Content, OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages two blogs: https://dusil.com/ and https://gabrieldusil.com/.

Travin Keith

Travin is a seasoned marketer who specializes in web and international marketing. He has worked with over a hundred businesses around the world spanning a wide range of industries. Since 2013, Travin has been involved with cryptocurrencies as a trader, investor, marketer, and community member. He joined the Nxt Foundation as a board member in 2016, serving as its Marketing Director and a Blockchain Consultant, as well as the representative to Hyperledger, a Linux Foundation Project.

Further Reading

1. Building a Decentralized Ecosystem

http://wp.me/p3eaA5-ifv

In this white paper, we discuss the phased rollout of Adel’s ecosystem. The first phase includes the launch of Adel through an initial coin offering (ICO). Phases two and three will focus on building and managing the community.

2. An Incubator for Blockchain Technology

http://wp.me/p3eaA5-ifI

This paper provides an overview of Adel and its ecosystem. We outline how the community can interact with Adel’s staff, as well as activities surrounding project submission, approvals, and operations.

3. Responsibilities in a Crypto-economy

http://wp.me/p3eaA5-ifT

Adel is a community where every member is connected through token participation and voting. This paper outlines the roles and responsibilities of community participants, including its members, project managers and Adel’s leadership.

4. Creating Value with Cryptocurrency

http://wp.me/p3eaA5-ig9

This white paper outlines Adel’s advantages from three vantage points: its underlying blockchain technology, the Nxt and Ardor platforms from which Adel is built, and the additional business processes Adel has introduced to provide effective, community-based funding.

5. Differentiation in the FinTech Revolution

http://wp.me/p3eaA5-igm

In this paper, we discuss existing cryptocurrency technologies that are available today by providing an overview of the blockchain marketplace and Adel’s position within it.

6. Maintaining Integrity

http://wp.me/p3eaA5-igq

This white paper outlines the principles of a community-based ecosystem and how this can be sustainable and profitable using cryptocurrencies as its foundation.

7. Inspiring Innovation

http://wp.me/p3eaA5-ih8

Spontaneity and creativity is impeded by a heavily formalized process which has been established by sizeable institutions that have evolved over many decades of operation. We outline how Adel will change the investment landscape and inspire technological innovation.

8. Protecting the Community

http://wp.me/p3eaA5-ihc

In this paper, we outline established procedures to mitigate risk to Adel’s ecosystem while protecting its brand, infrastructure, and the integrity of blockchain solutions.

9. Managing the Ecosystem

http://wp.me/p3eaA5-ihg

This document frames the procedures established by Adel for community projects. We discuss the guidelines for proposal submissions, reviews and approvals, as well as management and operational oversight. We also outline fund allocation to approved projects and reward distribution to stakeholders.

10. Designing a Blockchain Incubator

http://wp.me/p3eaA5-ihB

In our continued efforts to communication Adel’s vision, this white paper expands our three-phase roadmap explained in White Paper #1, “Building a Decentralized Ecosystem”. We have now included our timescales to list ADL on exchanges, the introduction of our Adelshare (ADS), move to Ardor, and project execution (phase 3).