Q. What is the project’s purpose?
A. The project is re-designing how everyone pays and receives money. Presently bills are sent out in PDF format. By using the bBiller system there is no re-keying of data. The BILL tokens are smart contracts which enforce invoicing terms and conditions on the parties. For example a purchase order and invoice terms and conditions along with payment details (Fiat or Crypto). End users need BILL tokens to use the Ethereum Smart Contracts. The smart contracts are sent via the bBiller system or can be used standalone.
Q. Why does the project rely on International Standards and Committees?
A. The standards for message interchange in global businesses is already established on the Universal Business Language. The development team are making the standard for billing operate on the Blockchain for everyone to use.
Q. Is the Project Source code open?
Q. What is a DAO?
A. A DAO is a distributed Autonomous organisation. Control of bBiller rests with BBILLER token holders. Token holders can propose directions and vote on the future direction of the project.
Q. Are you selling company shares?
A. No, the Tokens offer certain rights over the control of the project. The Tokens are traded for Bitcoin or Dollars on various exchanges. The tokens pay the management team based on performance of driving the technology.
Q, What is the difference between BBILLER tokens and BILL tokens?
A. BBILLER tokens are for distributed trading and BILL tokens are Ethereum Gas plus margin from sales. BBILLER tokens are very different than BILL tokens. BILL tokens are like credits and are needed by end users to use the end solution. BBILLER contracts are implemented as an Ethereum contract based on the white paper. Current BBILLER token holders can vote on proposals informally, until the contract is released. BBILLER token holders who are not clear on fund raising rules should seek independent legal advice. The trading phase of BBILLER tokens will commence at the end of the pre-sale period. The objective is to raise funds for Phase 1. That is $150,000AUD (12%). Once this figure is reached, then Ethereum Smart contract can be issued on a distributed exchange which pairs BBILLER with ETH, without an intermediate token such as WINGS, unless members say otherwise. There is a reporting link between BBILLER and BILL tokens. BILL tokens are for customers that use the system. They purchase these to fund the smart contracts that the platform generates for them when doing Supply Chain processes. The profit from the sale of BILL tokens is recorded on the blockchain with the profit portion sent to BBILLER Ethereum addresses. When the company becomes profitable, holders of BBILLER tokens can petition the company by way of a proposal in GitHub, to be voted on by members that a dividend be declared by the company and proceeds from profits after all expenses and taxation be returned to BBILLER Token Holders. In essence the BBILLER token holders act as the executive arm and preserver of their purchase, rather than relying solely on management for direction, BBILLER is a true distributed autonomous organisation building a transparent, automation with linkages to IoT, Payments in any industry which seeks lower costs in their Supply Chain process.
Q. How do I get BBILLER Tokens?
A. You must register by email to obtain the contract address for deposit of ETH. The Smart Contract embodies the rules of the initial and final Whitepapers which are both published on our website. To purchase tokens you need Ethereum currency which can be bought from various exchanges. Once you own some Ethereum, you will need to send it into your private Wallet. From your Wallet, you can send Ethereum to the bBiller Contract Address. The system (Blockchain Nodes perform confirmation) will send you BBILLER Tokens based on the value of Ethereum vs the Australian Dollar, recorded on the Ethereum Blockchain.
For example, if you wanted to purchase $150,000 worth of BBILLER Tokens, you would need something like 555 ETH (at time of writing) to the contract address published on the bbiller.com/ioc page. The price of AUD/ETH changes by the second hand, and is read from another Smart Contract, called an Oracle (Not Oracle the Software Company). The Oracle get the price from Australian Exchange Independent Reserve.com (last price, every 24 hours, or earlier), so that the bBiller Smart Contract can work out how many tokens to send to your private Wallet address. That’s the address you sent Ethereum (ETH) from. Sending Ethereum from an Exchange like Independent Reserve to bBiller Contract Address will not work. You need your own Wallet. You can inspect the contract, but programming skills are needed.
Q. How do I get a refund if the MVP is not reached?
A.Are Refunds are Automatic
No, you perform your own refund in the event that less than 12,500,000 are sold. That’s $150,000 AUD which bBiller needs to finish your software. It’s called a Minimum Viable Product or MVP. We can then commence sales of BILL tokens and project services, if we sell enough tokens. – Over to you…
Q. What is an Oracle?
A. It’s how we discover how much digital currency is worth at against the purchase price of ETH as reported by independentreserve.com, an ETH and BTC(XBT) exchange which allows you to buy BBILLER tokens at an advertised price based on market prices.- LastPrice. Go there if you don’t own ETH or do find an exchange you like on google, which offers the same service. – See our security tips on protecting you own money and being accountable for your own wealth.
Everything is subject to change prior to start date see our helpful ICO page. bBiller.SOL implements a contract between oracle.Sol, to wit[sic] you as owner of BBILLER tokens own and control a set number, at time of purchase, and whilst holding them.
Q. Where are client monies held during the pre-sale?
Ethereum Account: 0x61950282d74dc6be3c7e0e1fada9cd46260ee1e6
Ethereum Contract Address (BBILLER): 0x93132ccee74a2d29b279b1f945c66842f5d8a013
Ethereum Contract Address (BILL): 0x254a8abbdbeb326c0003b3b16d6e09aafe1b1f02
Bank Account: Westpac Bank
Q. What Ethereum client should I use?
A. Ethereum users should select their own wallet software. Here are some considerations:
Option 1: Download the Ethereum Client from https://ethereum.org
Option 2: Paper Wallet software can be downloaded from our website but these are not suitable for Smart Contracts. Paper wallets are cheap and safe for storage (except for fire) of ETH offline https://bbiller.com/Wallet/index.html
Option 3: Online Website software has risks: https://www.myetherwallet.com Use at own risk
Option 4: Purchase and use a Hardware Wallet: https://www.ledgerwallet.com/r/1df4
By being your own bank means that you need to use bank level security at your home/office.
It’s a good precaution to download the software than use online web sites. Always check the build signature and run it on a fully backed up and maintained computer dedicated, secured by hardware protection and firewalls. Never show your private key and keep them safe. Always imprint private keys to bare metal when holding large sums. Buy a Yubikey to protect your passwords. Use Google Authenticator for 2-FA.
Further information can be found in the Wiki (nothing there yet)