Farad is a Malaysian company trying to usher in a new era of cryptocurrencies by linking their digital tokens to real-life economic production. Farad Cryptoken (FRD) will be backed by the production of ultra-capacitors manufactured in Farad’s factory in China.
Every token purchased during the ICO will entitle you to a corresponding portion of the ultra-capacitor production. This is a unique approach to combining blockchain technology with real-life backing. The only problem we currently see with this idea is the fact that the ultra-capacitor production is supposed to be funded with the currency collected during the token crowdsale, which may discourage potential investors from participating.
Ultra-capacitors are basically made of two porous non-reactive plates (collectors) suspended within an electrolyte with a certain voltage potential applied across the collectors. In individual ultra-capacitor cells, positive electrodes will attract the negative ions and the negative ones will attract positive ions from the applied potential. A dielectric separator located between the two electrodes will prevent the charge from moving between the electrodes. If this sounds interesting to you, keep reading our Farad review to find out more about this revolutionary project.
The team behind the Farad project consists of the following members:
- Dr. Wan M Hasni (Chief Executive Officer) – More than 25 years spent in financial economics. He is currently the chairman & CEO of Virtue Fintech FZ LLC;
- Rashdan Ibrahim (Financial Advisor) – 23 years of experience in asset management, banking, and the real estate industry. He is currently the financial advisor of Virtue Fintech FZ LLC;
- Richard Imran DIng (Legal Advisor) – Over 22 years of experience in joint ventures, mergers & acquisitions, and corporate and commercial transactions. He is also the legal advisor of Virtue Fintech FZ LLC;
- Nong You Hua (Ultra-capacitor Technology Advisor) – A Member of the Chinese Academy of Science, currently the Chairman & CEO of Guangxi Aerospace Beidou New Technology Co. Ltd;
- Dr. Hung Yen Liu (Ultra-capacitor Manufacturing Advisor) – Over 30 years of experience in electrical engineering. Currently the General Manager of Guangxi Aerospace Beidou New Technology Co. Ltd;
- Satriya Suetoh (Ultra-capacitor Program Advisor) – The General Manager of Guangxi Aerospace Beidou New Technology Co. Ltd;
- Dimitriy Kuvandikov (Technology Officer) – More than 12 years of experience in programming;
- Muhamed Catic (Chairman) – Strategic advisor with experience in circular economy, international business, international public relations, and innovation and technology management;
- Dr. Abdulla Mangoosh (Vice Chairman) – Chairman and CEO of Emirates House Group;
- Tony Morris (Board Member) – Over 20 years of experience in program management. President and CEO of Maglev Technology Inc.;
- Dr. Yao Peizhi (Board Member) – Expert in energy storage and ultra-capacitor technology;
- Abdul Rahman Al Ajmi (Independent Director) – 36 years of experience as a civil engineer;
- Dato Ir. Aziz Mustafa (Independent Director) – Over 35 years of experience in construction, engineering, trading, and property development;
- Azli Noor (Independent Program Auditor) – Around 20 years of experience in corporate banking, legal and secretarial work, client relationship management, and so on;
- Wee Yen Ye (Independent Compliance Manager) – More than 15 years of experience as an advisor on various commercial and corporate matters.
About The Project
The main idea behind Farad is a token with a value driven by real economic cash flow. The mining model is an assured model with mining based on farad produced on the Ethereum Smart Contract. The mining of the tokens will be over in 3 years at which point its fundamental will be 100% backed by cryptocurrencies.
Premium over escrow is designed to mirror the value of FRD as currency for ultra-capacitor products and markets. Each ultra-capacitor produced will be recorded in the blockchain, which ensures a completely transparent process, fully accountable and auditable by anyone using the blockchain public records.
Each FRD will represent a right to begin the production of ultra-capacitor cells (UCC) defined by the millifarads (mF) each UCC will produce. Each FRD is a representation of 1 mF. The planned production should result in 80,000,000 UCCs over 36 months, producing 1,600,000,000 mF.
FRD is completely transparent. The program is housed under FARAD Co. Ltd. HK, which is a special purpose company. The enterprise will be overseen by an independent board of directors with two independent parties acting as the program’s auditor and compliance officer.
Future plans see FRD as a currency used to purchase metal oxide based US and end products with metal oxide UC as their base components.
Farad ICO will be divided into 2 rounds:
- Pre-ICO token swap – This program starts on August 25th, 2017 at 00:00 GMT and ends on September 14th, 2017 at 23:59 GMT;
- ICO swap – The program will be conducted over 16 days starting on September 15th, 2017 at 00:00 GMT and ending on September 30th, 2017 at 23:59 GMT.
The total swap volume for this ICO is capped at 1,280,000 FRD and the total amount of tokens issued will be 1,600,000. For every 100 FRD swapped, an additional 25 FRD will be issued and kept for team members, sponsors, partners, and advisors.
FRD price for the pre-ICO swap will be 0.0005921 ETH (or BTC equivalent). ICO token swap will have a higher price of 0.0006579 ETH (or BTC equivalent). The tokens will be issued 7 days after the ICO is concluded.
Farad is a unique Malaysian company based around the idea of linking digital tokens and their value to real-life economic production. Their token is backed by the production of ultra-capacitors in their factory in China. So, every issued token will have its base value in manufactured ultra-capacitors. You can basically look at it like having gold to secure the value of fiat currency. Our list of additional resources will give you a better picture of the platform and answer any potential questions:
- Farad YouTube review made by Applancer will provide a perfect introductory course to this revolutionary platform.
- Farad YouTube account contains a few videos covering the basics of their ICO and explaining the background of their virtual token.
- Farad was also the focal point of this article published in the business section of Gulf News.
- Farad Facebook page is updated on a daily level offering links to informative articles regarding the platform and the importance of ultra-capacitors for future technologies. It also provides regular news on their ICO and the company in general.
- Farad Twitter account is the perfect place to get fresh information on the platform and see what other people think about it.
- You can always join the Farad Slack channel for a more chat-oriented experience while gathering precious information.
- Lastly, you can read the Farad ICO review on Applancer for a detailed list of its most important features.
- FRD value dictated by physical ultra-capacitor production
- Combination of several high-growth industries
- Automatic contract execution
- Irreversible transactions
- No intermediaries
- Dependence on future production might discourage potential investors