Categories: Ethereum

Indigen Token Sale: A Blockchain Project to Preserve Indigenous Culture

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Indigen describes itself as a blockchain project to preserve indigenous culture. Indigen (IDG) is the first blockchain and cryptocurrency project that was specifically created for indigenous people.

IDG uses a masternode blockchain which is highly sustainable as its basis. This masternode blockchain saves energy by not requiring specialized miners.

IDG itself is a utility coin that fuels the blockchain projects by serving as an incentive or reward for those who contribute to projects. Additionally, IDG is a donation and payment currency, where a portion of the sales get used within the Indigen outreach programs.

Indigen ST (IDGT) is an ERC-20 token on the Ethereum platform. It began with an ICO in January 2019 and is a method of infusing extra funding for both the outreach programs and blockchain projects. All funds from the token sale of IDGT will go toward outreach programs, blockchain projects, and reinvestment in future activities that generate revenue. This last use allows for Indigen’s future sustainability.

The management team does not have reserved tokens and does not hold any tokens for personal use. This follows the fact that the main priority of Indigen is following its mission and vision, charity projects, and business objectives. The goal is not for management to make a profit.

Those who hold a required amount of IDGT will receive rewards in the form of dividends from future projects. These rewards will be paid using Smart Contracts and paid out in Ethereum. There is a maximum supply of 100,000,000 IDGT, with each 1,000,000 IDGT representing 1 percent of the full shares. Up until reaching that point, IDGT minting will occur as needed.

Indigen suggests using Ethereum Wallet for Desktop, MyEtherWallet for Web, Metamask for Browser, or Coinomi for Mobile to store your IDGT. The project also offers instructions for adding the token to an Ethereum wallet before buying it.

The first 10,000,000 IDGT’s price is set to 0.0001 Ethereum per 1 IDGT. There was a New Year bonus on Jan. 1, 2019, with 1 ETH being equal to 19,000 IDGT. The presale began on Jan. 7, during which time 1 ETH will be equal to 10,000 IDGT (for a ratio of 0.0001 ETH to 1 IDGT). From there, the actual token sale begins on Feb. 1, 2019, running until June 30. During this period, 1 ETH is the equivalent of IDGT so each IDGT is 0.000125 Ethereum.

Once the 10 million IDGT from the token sale are sold, or following a listing on an exchange, the price of IDGT will increase by as much as 50 percent.

50 percent of the funds raised from the token sale will be reinvested into income-generating future projects by Indigen. This is the project’s method of ensuring stability in the future as well as its way of guaranteeing dividends for token holders. A further 25 percent will go toward development, advertising, marketing, trade shows and promotional events, licenses acquisition, international expansion, and related uses. The final 25 percent goes toward business operations, consultants, staff and management, day-to-day and office expenses, charity projects, and related expenses.

BUILD is one of the projects at Indigen and it stands for Blockchain Unabridged Indigenous Language Database. This project stems from the idea that preserving the languages of indigenous groups is essential before you can actually preserve their cultures and traditions. The launch of BUILD in 2019 also coincides with UN’s International Year of Indigenous Languages.

BUILD involves the collection and research of indigenous languages, starting in the Philippines. The goal of this project is to revive as well as preserve the range of native dialects. BUILD uses the distributed ledger technology to hold the data since it is immutable, decentralized, and can record time stamps and track historical records. Once the data is on the blockchain, BUILD will apply either machine learning technologies or AI to allow for real-time translations between tribal dialects or native languages. This should dramatically reduce language barriers.

Within BUILD, users can receive IDG as awards for contributing to the project. Contributions include adding entries for the database and upvoting entries.

In Q1 of 2018, Indigen had its 1.0 web wallet launch as well as the website launch. Q2 saw Indigen Mobile 1.0 for Android, complete with built-in merchant tools. Q3 included the Indigen 2.0 Masternode Blockchain Upgrade plus migration of web wallets. Q4 of 2018 involved Merchant Connect Tools and the launch of IAM Indigen Products.

During Q1 and Q2 of 2019, Indigen will launch the Indigen ST (IDGT) and prepare the backbone of its BUILD project. This is also when Indigen will add features to reward contributors via IDG tokens. Q3 and Q4 will include continued development of BUILD along with research and documentation of indigenous languages within the Philippines. During this time, Indigen will also form partnerships with indigenous groups and launch its Indigen IAM Scholar Program for indigenous children.

Indigen is also already brainstorming and planning other projects. One of these would be a blockchain project for Digital Identity. This is a key future project since a lack of official identification is a serious problem in many impoverished nations, particularly among native populations. A Digital Identity project could help with a range of situations from governmental services to loan applications to aid provisions. Indigen is also considering other related projects in the future, such as a registry of properties that is immutable, so indigenous people do not have to worry about rich and powerful officials stealing their land, fraud-free voting, or supply chain management.

Indigen is a project that utilizes the blockchain as well as cryptocurrency to help preserve and record the cultures and traditions of indigenous groups around the world. There is an ongoing token sale taking place at the moment. Indigen has also already begun its first project, BUILD, which aims to preserve indigenous languages.

IDG uses a […]


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