- Technology

Covir – A Project for Biosafety Project Using Blockchain Technology

Covir is a platform that is designed to fund projects in the biosafety world as well as their licensing using the blockchain.

The Upcoming IEO and Listing on BitForex

COVIR is a goal that wants to deliver a safe environment for everyone via the deployment of special robots that are used in decontamination efforts. The robots can be used in the decontamination of various airborne diseases that are not limited to the recent COVID19 outbreak.

Covir wants to incorporate the blockchain, specifically the Tezos blockchain, towards the assessment and easy interconnectedness of all countries. The aim is to make access to these robots easy, which will ensure a safe world for all.

Octopus Robot, the main partner of COVIR, will build the biosafety robots. The robots will assist in equipment decontamination as well as the decontamination of large buildings and facilities. Some of the facilities and buildings that can be decontaminated are food-processing plants, food storage facilities, airport terminals, shopping malls, and other types of buildings.

The Goal of COVIR

COVIR has the goal of securing funding for robotic disinfection licenses using the Tezos blockchain. Besides that, the COVIR project will introduce an international licensing system using the Tezos blockchain. The aim is to prevent and treat microbial contamination during pandemics or a bioterror attack such as with COVID19.

The Market Potential

A recent market study found that the potential sale of licenses could be over $160 million. Octopus Robots has signed an agreement with COVIR for the pre-sale of licensing rights for its robots at $80 million, which is 50% of their value.

The COVI project is working on the tokenization of this licensing worth $80 million. The tokenization is equal to 400,000,000 CVR tokens at $0.20 per unit.

Investors of the CVR tokens will effectively acquire a piece of the license rights. They can finance the production of the Biosafety systems being done by Octopus Robots, which will then be sold and invoiced in sales, equivalent to 10% of the Royalties.

BitForex has listed the details of the IEO in an official announcement.

The first round of the IEO will take place from 2020/07/31 to 2020/08/07

The second round of the IEO will take place from 2020/08/10 to 2020/08/14

The CVR tokens will sell at $0.20 each

The minimum amounts are:

Round 1: 3,750,000 CVR

Round 2: 3,750,000 CVR

Bonus based on the number of tokens bought in both rounds:

15% CVR bonus for top 50 buyers

10% CVR bonus for all rest subscribers

The Bonus will be distributed 7 business days after the end of the subscription by BitForex

Trading will take place in CVR/BTC, CVR/USDT pairs and it will start on 2020/08/27 17:00 (GMT+8). Deposit and withdrawals for CVR will open on 2020/09/03 17:00 (GMT+8).

CVR/BTC, CVR/USDT trading will open on 2020/08/27 17:00 (GMT+8)

CVR deposit and withdrawal will open on 2020/09/03 17:00 (GMT+8)

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