The Blockchain startup Decent is half way into their Initial Coin Offering, and has raised more than $3 million. Matej Michalko, co-founder and CEO of Decent speaks with Cointelegraph about their expectations.
Cointelegraph: How much are you anticipating to raise?
Matej Michalko: We raised 5500+ BTC, which has a current value of $3,300,000+, we are only in the first half of our ICO (Initial Coin Offering) and we still have 4 weeks to go.
CT: Do you think Decent can break the record of The DAO which raised $160 million a few months ago?
MM: The DAO raised $160M+ a couple of months ago, being decentralised VC fund, a very different project from what Decent intends to be. As we have still 4 weeks to go and many backers jump in the very last moment, I hope for the current number to improve, so Decent will be a great success and a killer app for Blockchain Technologies in digital content distribution. Our main aim is to take Blockchain Technologies mainstream.
CT: How do creative content distributors feel about your company's innovative invention to decentralize content distribution on one platform?
MM: Most of them find it revolutionary. There is no more a requirement for exorbitant middleman fees (40% - 60% in case of Amazon for publishing ebooks). Reviews and rating system are transparent thanks to Decent Blockchain, unlike in the case of Booking, Amazon, Uber and similar services. Creative authors and content distributors are excited about the opportunity to build transparent online reputation on Decent Blockchain.
CT: You're offering 70% of DCT in the ongoing ICO. What will happen to the 30% DCT that's left?
MM: 30% are designated for mining, which will start after the launch of Decent Network in Q1/Q2 2017. Mining rewards will be spread over 30 years with disinflation. DCT are going to be distributed as following:
- 10% for the Decent Foundation
- 2% for the Investment Fund
- 1,000,000 DCT for Decent Bounty program
- 3,000,000 DCT for Pre-ICO marketing
CT: Could you reveal your company's next milestone after the ongoing ICO?
MM: The main and most important milestone of DECENT Foundation is to release DECENT-Core, which is planned for Q1/Q2 2017. In parallel, dedicated teams work on the development of Decent-App Store, a Web, Windows, MAC OS X, Linux, iOS and Android marketplace for decentralised apps running on top of Decent. Similarly, development of Decent-Stream, a decentralised Netflix with no middleman fees and manipulation is kicking off in Shanghai in 2 weeks.
Decent is the future of digital content distribution. Decent is taking Blockchain technologies to mainstream markets by reducing unnecessary fees and manipulation introduced by monopolies and oligopolies of for-profit companies that currently dominate the markets. They have employees, offices, travel costs, investors, etc. Their aim is to make profit. Decent is liberating the world of digital content distribution by making them unnecessary. This is all thanks to decentralisation of trust in value and content distribution Decent enables.
CT: There are talks of manufacturing Decent-Streams Hardware like plugs & play that enables any Smart TV to be directly plugged into the Decent Network. Can you throw more light on that?
MM: Sure. We are kicking off Decent-Stream in 2 weeks in Shanghai. Decent-Stream will be designated for Chinese market, as this is one of the most promising ones within video, movies and TV Series distribution. Decent-Stream will run on top of Decent-Core and will enable content consumers (viewers in this case) to get content directly from authors with no middleman fees and manipulation.