ABOUT COIC PLATFORM

We aim to lower the entry barrier for companies who want to adopt IoT solutions by establishing a comprehensive and reliable IoT ecosystem.

Our Goals

The purpose of COIC International Pte. Ltd is not something grandiose like creating a new blockchain paradigm. Rather, we aim to lower the entry barrier for companies who want to adopt IoT solutions by establishing a comprehensive and reliable IoT ecosystem.

We realize it is impossible to realize our goal with the current IoT technology and it is a challenge yet to solved. We believe that when a culture of transparent transactions between companies is established based on a blockchain IoT ecosystem, we can indeed achieve a future that we dream of. We will persevere to gradually establish this reliability-based ecosystem, by combining blockchain and IoT(Internet of Things).

COIC PLATFORM ECOSYSTEM

Our intent to invigorage the Industrial IoT environment has lead us to establish the following COIC ecosystem. The COIC ecosystem to provide industrial IoT solutions to companies and to create a highly reliable environment with blockchain technology to invigorate the industrial IoT environment.
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1.

Bridge Node

The linking node between the COIC, Hdac and Ethereum blockchains

2.

Miner-Node

An object that has COIC coin mining rights within the COIC blockchain

3.

CSN (client side network)

A term referring to companies using the J-Works platform

4.

J-N

Companies that have adopted J-Works IoT platform

5.

Client node

The linking node between the J-Works platform and COIC blockchain

6.

CA (Certificate Authority)

Authentication and permissions management system for all members (J-Works platform adopter, miner, etc.) of the COIC ecosystem

CSN

COIC Platform Client Side Network (CSN)

The CSN of the COIC platform refers to the group of companies using the J-Works platform. Within the CSN of the COIC platform, there are companies that run production plants or single warehouses (e.g. XX Total Cold storage warehouse) or companies that already own part of the distribution system (e.g. XX Express). Companies within the CSN can not only verify the integrity of their data through the COIC blockchain, but can also browse and co-manage data with other business partners.

The COIC blockchain (Permissioned Public Blockchain)

A COIC block chain is a permissioned public block chain. A node may join a permissioned blockchain only if it is granted access. Anyone who wants to join the COIC blockchain system can apply for membership, but not everyone is granted access. This is because there are certain criteria that are required to maintain the transaction speed that is essential to the IoT ecosystem. Unlike other private blockchains, anyone who has met the criteria to guarantee the transaction rate of the COIC blockchain can join, rather than designating specific people and granting them access.

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Certificate Authority (CA) – COIC 플랫폼 권한 인증 시스템

CA is a technology infrastructure that performs ecosystem member authentication within the COIC platform. The COIC platform CA manages both the Client-Node Certification that manages the activity within the CSN and the Miner-Node Certification that manages the mining license of the Miner-Nodes in the COIC blockchain. As mentioned earlier, those who want to mine COIC Coin in the COIC blockchain must be certified by the CA, and companies within the CSN will be able to create synergies between themselves by grouping business relationships which leads to guarantee of goods and the sharing of procedures and reliable data.

Connecting with other blockchains

The COIC blockchain allows only licensed Miner-Nodes to create blocks in order to keep transaction processing speed as fast as possible. This method still contains, although with low possiblity, the risk of tampering of block data by the CA management group. The COIC platform has designed the Bridge-Node to record the COIC hash value in the authorized public blockchain to prevent the possibility of such block manipulation.

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Details of the COIC ecosystem

COIC Coin's actual users are the companies that use the IoT platorm within the COIC platform. By introducing COIC Coin, the COIC platform eliminates the initial installation cost of developing an IoT environment for many companies. The people who buy the COIC coin can be categorized into two groups. One group consists of ordinary people who believe the value of the coin will rise due to a rise in demand, and another group consists of the companies who have to pay service fees to COIC International Pte. Ltd.

As mentioned before, the actual users of COIC coin are companies. Therefore, the demand for COIC coin is generated by companies that have adopted the COIC IoT platform. As the number of companies adopting the COIC IoT platform increases, the demand increases as well.

The suppliers of COIC coin can be categorized into two groups. The first group is miners who mine COIC coin within the COIC blockchain. The COIC coin that can be obtained through mining will be adjusted according to the mining reward policy. For more information, please refer to the COIC Yellow paper. The second group of suppliers are people who have obtained coins through the presales and ICO of COIC International Pte. Ltd. At the beginning of the ecosystem activation, the total supply of COIC Coin is equal to the number of coins issued during the presales and ICO. Therefore, initial adopters of the COIC platform have no other choice but to purchase COIC from those who participated in the ICO.

The COIC adopter partner is the name given to the first companies to introduce our blockchain-based IoT service at the time of COIC platform's main net launch, or to resellers contributing to the expansion of the COIC platform. The COIC adaptor partners will be the first 'pioneers' of the COIC platform, trying out and helping to improve various operations within the COIC platform. Therefore, we promise to be transparent and cautious in the selection process of COIC adapter partners. The COIC adapter partner is selected exclusively from the companies that adopt the platform before the first halvening.

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COIC COIN SALES AND TOKEN ALLOCATION

A total of 12 billion COIC coins will be minted, and 1.92 billion of these COIC coins will be distributed through the presales and ICO. 3% of the tokens will be distributed to advisors and contributors working for the success of the COIC Platform. 5% of all the minted coins will be used as a reserve and a fund for maintaining liquidity of the COIC coin. These coins are owned by a legal entity with no plans to spend them, and may be burned for stabilizing COIC coin's value if there are no liquidity shortage issues.

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Plans for Token Use

The proceeds from the sale of COIC tokens are basically used for the successful deployment of the COIC Platform. The proceeds will also be used for acquiring COIC Adaptor Partners, who play key roles in building up the COIC Platform ecosystem, and also be used for funding marketing efforts to expand the COIC Platform