CoinFox continues its series of reviews of interesting blockchain products. This time, we will tell you about a project that uses the distributed ledger to create a counterpart of Amazon in the construction industry and to improve the business processes of the construction industry. In the near future, the project will start an ICO following the vision of Vitalik Buterin, the founder of Ethereum.

According to the authors of the project, the idea of AIDA came into being as a result of their many years of experience in the construction business. The industry in its actual state has a great number of internal problems leading to the increase in cost of products and forcing the end consumers to pay more money – corruption among suppliers, waste of money on middlemen, difficulties with the tracking of building materials, the circulation of documents and the planning of availability of storage premises. The service developed by the AIDA project is aimed at solving these problems. Besides, its developers wish to improve the professional level of sales and marketing in their field, creating a sort of eBay or Amazon in the construction industry.

The main advantage of the project will be the universal character of its marketplace: it will work as a shop window enabling the suppliers to expose the price tags of their goods. It will become a place where the customer can choose the building material and its supplier depending on the price and on the availability of the goods. Moreover, any user will be able to receive a transaction fee by placing an order on the platform. The possibilities to earn money on AIDA can be more numerous that currently when selling through middlemen because in due time many construction and logistics companies will be connected to the single platform. The service will not charge any licence fee and its transaction fee will amount to 5%, less than on existing platforms: for reference, it may reach 30% on Amazon, 20% on eBay and 8% on AliExpress. What is more important, once the platform expanded, the fee will be lowered to 1%.

However, the idea of AIDA is not just to create a handy Internet shop that would make life easier for those who buy construction materials. The decentralised automated service will become a tool for all the market participants, not only customers, but also suppliers, dispatchers and warehouse owners. The AIDA service consists of six parts: the aforementioned marketplace supporting several languages, a manufacturing control system, a logistics control system, a warehouse control system, tools for promotion within the affiliate system and the member area of the participant of the system. The member area will enable all the participants of the process to follow the circulation of documents within the integrated system and to track the presence of the electronic digital signatures – it is here that the developers use the blockchain distributed ledger. The use of smart contracts will make it possible to pay for the construction materials or works automatically and only after the end of the previous stage. The manufacturing control and logistics control systems aim to make it possible for suppliers to manage the orders, to automatically update the database of their customers and to receive analytical data about the development of business processes. The owners of warehouses will be able to plan the availability of their premises beforehand.

At present moment, the project is on the threshold of launching the alpha version of the service (MVP) – more than 50 factories will take part in the alpha testing, to be held in the end of January 2018. Besides that, the project team has already signed memorandums on cooperation and introduction of the AIDA service with the major construction companies of Kazakhstan. In the second quarter of 2018 the dispatchers and the warehouses will also be connected to the service, and already in the third quarter the project is scheduled to be launched in the territory of the C.I.S.

To develop the beta version of the project, the creators plan to distribute the AIDA tokens using the ICO mechanisms. If the project attracts enough investment, it can be expanded to other markets using the same business processes (for instance, furniture, computer accessories, food, equipment) and enter the international arena.

The placement of the ICO tokens of the AIDA project will have two phases: the pre-ICO is scheduled for the period between 4 and 25 January 2018 (during this period, the tokens will be distributed with the 15% bonus), and the ICO will take place between 26 January and 15 February 2018. The cost of one AID token will amount to $0.25. Besides paying with USD, the investors will be able to buy AID with their BTC, LTC, ETH and BCC. The minimum sum for participants will amount to $20 (for cryptocurrencies) or $100 (for fiat currencies). The price is fixed in US dollars to avoid the problems of volatility of main cryptocurrencies. The authors of the project plan to distribute the tokens in the following way: 76% of tokens will participate in the ICO, 20% will belong to the project team, 3% will be handed to the partners and 1% will be spent on the bounty campaign. After the successful end of the ICO, the tokens would be frozen for any operations for 21 days.

The ICO of the AIDA project has two peculiarities. Firstly, the team refrains from setting the fundraising limit: according to the developers, it is because they leave it to the community to decide how valuable and important the project is. Besides, it will be one of the first crowdsales to use the Vitalik Buterin’s vision and to offer the investors an occasion to return their investments directly to the cryptowallet used to buy the tokens.

The authors of the project plan to redeem its tokens to increase their circulation and the price of the AID cryptocurrency: the team is ready to use 30% of its revenues for this goal. The tokens will be redeemed at exchange prices but no cheaper than they were bought by the investors (that is, $0.25). The redeemed tokens will be destroyed.

The revenue from tokens will be assured by the transaction fee. According to the developers, the success of the project will be assured by the fact that, unlike systems that use a network of distributers (dealers), the AIDA will give back to the factory much of the reduction generally offered to the middlemen but will also make a reduction for end consumers, increasing the volume of online sales. The developers of AIDA believe that when the service is fully automated, its revenues will reach 5% of the whole sales turnover on the platform.

CoinFox wishes success to the AIDA project and recommends everyone who is interested to get to know its white paper!