As we continued our adventure down the ever-expanding cryptocurrency road we have now come to a new and exciting Ethereum-based cryptocurrency called Trial Token. When I first heard about this ICO I didn’t know what to expect. How can a cryptocurrency impact and disrupt the justice system in a way that makes sense? Well, that is what we are going to take a closer look at in this article.
As mentioned above, Trial Token is based on the Ethereum blockchain and conform to the ERC-20 standards. At first glance, it can be hard to understand what the Trial Token is really good for, however, when you take a look under the hood of this cryptocurrency you quickly understand what kind of impact it could have. To get started, let’s take a look at what the developers of the Trial Token say about it.
“Trial Tokens will be used on the Trial Funds website to access services. As the platform expands, we hope to use the Trial Tokens on a variety of other legal-based platforms.The crowdsourced nature of the platform allows a global response to a very real injustice currently taking place. Together with supporters, plaintiffs, and case backers, we believe a positive and direct impact on our society is possible.”
In a nutshell, Trial Token can be used to help back cases that could have a significant impact on the society but also small cases that simply have a high chance of being won. Instead of painstakingly trying to find funding through whatever ways previously used, the Trial Funds website works just like a Kickstarter or IndieGoGo crowdsource campaign platform. People choose what cases to back and then follow how they progress. No doubt will cases that have a higher chance of winning receive a lot of attention, but it’s exactly because of this reason the Trial Token was created.
Previously, it didn’t really matter if a case had a higher chance of winning, if the funds were not there to support the case itself, it was never going to win anyway. With the Trial Token and the Trial Funds website, this could change in a major way.
The Trial Funds website is set to launch in quarter one of 2019 and is expected to include a working platform, blockchain, and smart contract integration. The Beta launch of the platform is planned at the end of this year (2018).
So how do the backers make money off of pushing high-chance cases and why should they support a case with their money (Tokens)? Well, it’s a rather simple equation and to explain it in short, here is the progression of a case as an example.
- Trial Tokens can be purchased on TrialFunds.com and used to facilitate services such as posting case.
- Backers can choose which cases they wish to support.
- Backers can track the progress of cases that they have supported.
- Backers will receive a portion of the judgment that’s predetermined by the plaintiff once the case is settled or won.
As you can see, when a case is won, the backers will get a share of the judgment. Also, with all transactions recorded on the Trial Token blockchain, people can always have a transparent overview of what is going on and who is backing a certain case. This is something that could have an incredible impact on the process of legal cases all around.
IMAGE: TRIAL TOKEN
The primary Trial Token ICO sale will start on March 12 and will start at 0.00005 Ethereum (roughly $0.042002 per token at the time of writing). Trying to estimate or forecast the price growth or the adoption growth of the Trial Token is kind of hard as it’s based on the justice system and the success of each case posted on the Trial Funds website. So, for now, a humble attempt at a forecast would be that if the interest is there and the platform attracts a lot of cases, we could be looking at a price trend of at least 5-7 times the ICO price within the first two years.
As you can also imagine, trying to estimate the average judgment per case is a mere impossible task as every case taken to court is different. This is why we here at Bit Rebels think that Trial Token and the Trial Funds website could have such an important impact on the justice system as a whole.
Furthermore, the various types of cases also play a huge part in whether this new cryptocurrency will succeed. We have listed them below as a guide to what will initially be taken on by the Trial Funds website. More types of cases can, of course, be added to the list as the service expands in the future.
IMAGE: TRIAL TOKEN
If you are looking for a different and, quite honestly, a more exciting new cryptocurrency to invest in then Trial Token could definitely be one of them. The chance of success is high and the ICO price is quite low, which leaves room for heavy growth within a short period of time.
For a more in-depth overview of what the Trial Token is all about, don’t forget to check out the Trial Token official website for more information. They also have a countdown that will help you keep track of when the ICO goes live and when you can start to invest.
We believe this will be one of the top twenty most talked about ICOs during 2018, so make sure you line your calendar up to keep track of this potentially industry-changing cryptocurrency. With their competent team and a solid roadmap, we feel confident that this will have a place in people’s cryptocurrency portfolios.
Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice. Invest responsibly and never invest more than you can afford to lose.
IMAGE: TRIAL TOKEN
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