The Valorem Foundation is an online financial infrastructure built on the blockchain technology to provide a platform for multi-party transactions across multiple industries in the global marketplace. The platform so created is not geographically bound, it can be used by anyone at any time, anywhere in the world. Beyond the regular transactions usually initiated by users, Valorem provides a platform with a plethora of value-added financial services including loans, peer to peer networking, investments, e-commerce, crowdfunding, insurance and charity all via the decentralized blockchain technology. Valorem was founded by Val Kleyman, who is at present, CEO of the Valorem Foundation.
VLR Token is a utility token unique to the decentralized platform of the Valorem Foundation. VLR is an ERC-20 standard token of the Ethereum network built on the Zero protocol technology. Valorem is still in the early stage of the project development and is holding an ICO to raise funds for development and create awareness about its services. Coins accepted in the currently ongoing ICO include Bitcoin, Ethereum, Dollar and other major Altcoins. Fundamentally, the aim of the project is to become a one-stop shop for all financial services both to the crypto community and the mainstream users. It is pertinent to note that the Valorem Foundation is found online at advalorem.io and is not in any way affiliated to the company Valorem found online at valorem.com
History of Valorem
Valorem Foundation is the brainchild of Val Kleyman who has extensive experience in business, marketing Operations Management, Real Estate and Law. The word Valorem was coined from the English word ‘valour’, which in this context means value/worth; the very essence of the Valorem Foundation.
Valorem was founded in August 2017, the pre-development phase of the platform commenced immediately afterward and has since been completed. This phase of the project was focused on development and integration processes to set the stage for when Valorem would be ready to be launched and fully implemented. The pre-development stage saw to the set up of the base environment and the Py-Ethereum set up in the established environment. The test run for cryptocurrency code and build management for the cryptocurrency was also carried out at this stage. Also, implementation of first level security features, the currency exchange, and third party wallets were affected as first-line necessities before further advancement of the project.
On September 28, 2017, the technical whitepaper of the Valorem Foundation was officially published online where it could be accessed by anybody. The advisory group equipped with strong legal advisors as well as strong regulatory contacts were already assembled by September 2017. The ICO of VLR tokens was first announced on November 10, 2017. However, the presale didn’t commence until the second week of December giving way to the crowdsale on the 28th day of January 2018 which was still running as at the time of this report.
The Beginner’s guide to Valorem
Valorem is built on the smart contracts protocol of the Ethereum blockchain. There are an array of services provided by the platform, however, these functions are only available to a user via the VLR token. Thus, every user on the platform is required to convert their cryptocoins into VLR tokens if they must access Valorem’s services.
The VLR token utilizes a Zero coin protocol which ensures the constant and steady value of the tokens during transaction. In other words, the value sent by one user is the same value received by the recipient, therefore ensuring zero losses in the transaction process, thus the name – Zero coin protocol. VLR coins are not mineable, mining is a process by which new coins are released into the market and for one, VLR coins have a limited supply cap. Nevertheless, the team may integrate a mineable private blockchain some time down the line.
To invest in the ongoing ICO, users can send a minimum of 0.1 ETH or 0.05 BTC to the ICO’s contract address. VLR tokens will create an easily accessible system for users who rely heavily on traditional banking operations for basic transactions. Valorem is providing its users with absolute control people over their money, breaking away from the chains of regulations crippling fiat currencies and financial institutions.
The ultimate business plan of the platform is simple; to create an adept community of users, one that will promote usability and enhance the technology behind value-added services for longevity and sustainability.
By offering its services on a global scale, Valorem is developing a transaction platform set out to give the users access to all of its services and functionalities. Valorem intends to establish its place in the market and build a trusted and decentralized platform which will appreciate the value of the VLR token for token holders as the transaction platform matures and continues to develop. For more information about the Valorem Foundation, visit their website here.