2018 Q1The Foundation opens its office in Nijmegen; The Foundation team forms; developers, equine experts and professionals, government policy advisors, equestrian federation liaisons, marketing and sales experts, lawyers, auditors, and governance agents; The Foundation presents key stakeholders the technical and business solutions; The Foundation presents key stakeholders the Sealed Verification System (SVS); NFC-to-blockchain, microchip, and iris scan solution; Strategic partnership working in collaboration with the VeChain Foundation begins.
2018 Q2MustangChain agrees on business and technical proposals with the VeChain Foundation.; VeChain Foundation announces MustangChain to the public; The Foundation publishes the whitepaper.; Core team expands adding IT and development leads, project managers, and advisory board members.
2018 Q3Publication of the technical documentation; The public Token Manifestation Event launches on the VeChain Thor platform.
Providing fast access to data, creating trust by enabling transparency, and building a global equine community.
Symbol: MUST mustangchain.io
12 Jun 2018 - 12 Jun 2018
MUSTANGCHAIN WILL DIGITIZE THE EQUINE INDUSTRY
MustangChain’s main objective is to advance the multi-billion-dollar equine industry by implementing smart technologies, generating unbiased data, optimizing fraud-proof authentication and traceability, and removing global boundaries. This whitepaper entails our current approach which has been developed in close consultation with our stakeholders and technical experts and might be further improved based on future research.
MustangChain aims to set a global standard to counter fraud in the equine industry by introducing tamper-proof passport authentication, equine identification, and a swiftly accessible and decentralized data platform, thereby establishing trust among all participants within the ecosystem. Horses will have an NFC chip integrated passport that grants access to a horse’s data record on the blockchain, registering items such as ownership, studbook, medical records, breeding history, and other important variables necessary for informed trading, breeding, and handling. The emergence of ‘big data’ will be accessible for analysis and advancement of scientific and entrepreneurial endeavors.
MustangChain data collection approach will provide the basis to build a global community platform that will function as a portal where all stakeholders can unite to learn, exchange, and trade. The long-term success of the MustangChain platform depends on widespread industry adoption, which can only be achieved by actively involving the community in the development of our ecosystem. MustangChain initiated implementation of systems and protocols that allow for accessible and fraud-proof data on horses, will enable the equine community to build decentralized applications on the MustangChain platform, such as auction houses and equine marketplaces. Decentralized applications that are ready for mass adoption will
further expand the use of MustangChain as a one-stop platform for all equine services and merchandise.
At a root level, the MustangChain token circulation will create an environment to facilitate mass adoption and utility of the MustangChain token from the start. The derivative of the MustangChain token circulation is the SVS system, whilst the extended token circulation will include utility of the MustangChain token in later released Dapps as well.
The first task for a horse owner when it comes to a newly born equine, or an equine not yet on MustangChain, is to register the horse on their respective studbook in order to index his identity and receive an equine passport. The horse owner will pay the studbook the required registration fee and the studbook will load the data record of the horse with a certain amount of available MustangChain tokens.
That is, whenever a new horse is signed to a studbook, the studbook will create a new data record on the MustangChain platform and preload it with a number of available MustangChain tokens.
The discount for the private round is fixed at 25%.
The minimum amount of VET to participate in this round is 15,000 VET and the maximum is 75,000 VET.
The VET to MUST ratio is fixed at 1 VET = 5,200 MUST