About Daonari

What is Daonari?

Daonari is a construction platform operating in the blockchain space.

Daonari allows companies to raise funding for investments using digital currency.

Whats a blockchain?

A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. It allows market participants to keep track of digital currency transactions without central recordkeeping. Each node (a computer connected to the network) gets a copy of the blockchain, which is downloaded automatically.

Whats are the benefits of blockchain?

Disintermediation & Trustless exchange Two parties are able to make an exchange without the oversight or intermediation of a third party, strongly reducing or even eliminating counterparty risk.

Empowered users Users are in control of all their information and transactions.

High quality data Blockchain data is complete, consistent, timely, accurate, and widely available.

Durability, reliability, and longevity Due to the decentralized networks, blockchain does not have a central point of failure and is better able to withstand malicious attacks.

Process Integrity Users can trust that transactions will be executed exactly as the protocol commands removing the need for a trusted third party.

Transparency and immutability Changes to public blockchains are publicly viewable by all parties creating transparency, and all transactions are immutable, meaning they cannot be altered or deleted.

Ecosystem simplification With all transactions being added to a single public ledger, it reduces the clutter and complications of multiple ledgers.

Faster transactions Interbank transactions can potentially take days for clearing and final settlement, especially outside of working hours. Blockchain transactions can reduce transaction times to minutes and are processed 24/7.

Lower transaction costs By eliminating third party intermediaries and overhead costs for exchanging assets, blockchains have the potential to greatly reduce transaction fees.

What's Ethereum?

At its simplestEthereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications. In theEthereum blockchain, instead of mining for bitcoin, miners work to earn Ether, a type of crypto currency that fuels the network.

How are we unique?

Knowing in real-time which materials have arrived at a construction site, who handled them and where they originate from, makes a blockchain potentially valuable to the operation of a circular economy.

When you collect data along the logistic and construction processes, you need a place to keep records. Blockchain is a distributed database or a type of digital ledger that maintains an accumulating list of ordered records called blocks. The technology makes sure the data is safe and that it cannot be altered retroactively.

The ability to create, validate, authenticate and audit contracts and agreements in realtime, across borders, without third-party intervention, makes Blockchain technology appealing to many professional services organisations.

How much can you invest?

Investment Limits. The OM Exemption is subject to investment limits for certain investors, as follows:

  • non-eligible investors (i.e., investors who do not meet certain income or asset thresholds) – a maximum of $10,000, cumulatively for all investments made in reliance upon the OM Exemption inany 12-month period;
  • eligible investors – a maximum of $30,000, cumulatively, for all investments made in reliance upon the OM Exemption in any 12-month period unless they receive suitability advice from a portfolio manager, investment dealer or exempt market dealer, in which case this limit is increased to $100,000;
  • investors who qualify as accredited investors or family, friends and business associates – no limit; and
  • non-individual investors, whether eligible or non-eligible – no limit.

What are ERC-20 tokens?

The ERC20 protocol standard contains basic functions that any useful token should implement to enable trading. These include transferring tokens, inquiring the balance of tokens at a certain address, and the total supply of tokens.

What are smart contracts?

Smart contract — is a piece of code which is stored in the blockchain network (on each participant database). It defines the conditions on which all parties using contract agrees and certain actions described in the contract can be executed if the required conditions are met.

As the smart contract is stored on every computer in the network, they all must execute it and get to the same result. This way users can be sure, that outcome is correct.

Video on smart contracts.

More info on smart contracts?

Sounds complicated? It’s not.

Let’s simplify everything using an example. As I am a little bit familiar with the logistics, I will take a use case from this industry. Let’s say you want to ship a pallet of goods to your friend Bob.

You trust Bob, but you don’t trust trucker Tom, who will carry your pallet. On the other hand, Tom does not trust you as well, maybe you won’t pay? Or you do not have money to pay him at all? Therefore, you have to sign an agreement with Tom that you will pay for the shipment in a few days after delivery. Usually third party is involved in this process, legal papers, contracts are scanned, printed, signed.

Can we simplify the process? Yes! We can do that with the help of smart contracts. We could define those rules in code.

You make a payment for shipment to the smart contract on the day of loading. It holds the payment till the shipment delivery is confirmed by Bob. Then the smart contract releases the payment and money is transferred to Tom automatically.

Let’s move a little bit forward. What if we would have a GPS tracker attached to the pallet? Then we simply could eliminate Bob from this process and just release the payment automatically, when the location rule is met.

How much can issuing companies raise?

Companies can raise up to 1.5 million in a 12 month period.

What happens when a project fails?

If a business fails to achieve a particular milestone by a deadline, that triggers an election. The business must propose an adjusted action plan with new deadlines. The investors can decide whether they want to accept the new action plan, or reject it. Rejecting the action plan opens the project up for other businesses to propose action plans as well. This is a strong incentive for businesses to set realistic deadlines in their action plans. The project continues, but possibly with a different business running the campaign.

What regulation do you follow?

We follow K.Y.C, Know Your Customer and Financial Transactions and Reports Analysis Centre of Canada compliant.