F A Q

Important Information

 

We are aware of some reports of users who believe they had purchased tokens in the sale and have not had these reflected in their token balance.

 It is important to note, as previously mentioned during the application process, that a token purchase has 2 steps:

Step 1: ETH is deposited into the escrow account on the Smart Contract System. This will generate a message showing the escrow deposit transaction was broadcasted successfully to the Ethereum network. This is not a token purchase, and the ETH can be withdrawn by the user at any time. Step 1 is not under our control.

Step 2: Following the deposit of ETH into the escrow account, the user makes an application for the token purchase which, if successful, results in the Smart Contract which trades the ETH for the token(s) after the user signs an order. This will generate a message stating that the application has been successfully sent to the blockchain, but will not state and does not indicate that the purchase was successful. A successful token purchase will be reflected only in the token balance.

Accordingly:

1. We do not hold your ETH at any stage until a token purchase is successful. Then, the transaction is successfully mined on the blockchain and the tokens are exchanged for the ETH. Until a purchase is successful, the ETH deposited is always under your control with your private key, and we do not hold the ETH.

2. The Smart Contract System which trades your ETH for tokens is decentralised and runs on the Ethereum blockchain, so any token purchase, whether successful or not, will be visible to all.

3. At no time in the token sales application is a “successful purchase” confirmation issued. The messages generated will only show that the application was successfully sent to the blockchain.

4. Due to the nature of blockchains, and the extreme demand for the token, not all transactions which are successfully sent to the blockchain will result in a successful purchase.

Many examples we have reviewed showed that users successfully completed step 1 in the process but did not complete step 2. If your token purchase was not successfully mined, there would be no token purchase and your ETH would still be available for withdrawal at any time. To withdraw any remaining ETH, please log onto the sales application with the key used to deposit ETH. We have no control over the unspent ETH, which is entirely within your control with your private key. As stated above, if you successfully purchased tokens, this will be reflected in your token balance. If you believe that you had been successful in a token purchase but the balance is not correct, please send us a DM with your email and the public key you believe made the purchase, for us to review.

F A Q

Important information

We are aware of some reports of users who believe they had purchased tokens in the sale and have not had these reflected in their token balance.

 It is important to note, as previously mentioned during the application process, that a token purchase has 2 steps:

Step 1: ETH is deposited into the escrow account on the Smart Contract System. This will generate a message showing the escrow deposit transaction was broadcasted successfully to the Ethereum network. This is not a token purchase, and the ETH can be withdrawn by the user at any time. Step 1 is not under our control.

Step 2: Following the deposit of ETH into the escrow account, the user makes an application for the token purchase which, if successful, results in the Smart Contract which trades the ETH for the token(s) after the user signs an order. This will generate a message stating that the application has been successfully sent to the blockchain, but will not state and does not indicate that the purchase was successful. A successful token purchase will be reflected only in the token balance.

Accordingly:

1. We do not hold your ETH at any stage until a token purchase is successful. Then, the transaction is successfully mined on the blockchain and the tokens are exchanged for the ETH. Until a purchase is successful, the ETH deposited is always under your control with your private key, and we do not hold the ETH.

2. The Smart Contract System which trades your ETH for tokens is decentralised and runs on the Ethereum blockchain, so any token purchase, whether successful or not, will be visible to all.

3. At no time in the token sales application is a “successful purchase” confirmation issued. The messages generated will only show that the application was successfully sent to the blockchain.

4. Due to the nature of blockchains, and the extreme demand for the token, not all transactions which are successfully sent to the blockchain will result in a successful purchase. 

Many examples we have reviewed showed that users successfully completed step 1 in the process but did not complete step 2. If your token purchase was not successfully mined, there would be no token purchase and your ETH would still be available for withdrawal at any time. To withdraw any remaining ETH, please log onto the sales application with the key used to deposit ETH. We have no control over the unspent ETH, which is entirely within your control with your private key. As stated above, if you successfully purchased tokens, this will be reflected in your token balance. If you believe that you had been successful in a token purchase but the balance is not correct, please send us a DM with your email and the public key you believe made the purchase, for us to review.

What is Centrality?

Centrality is a blockchain platform and venture studio business based in Auckland New Zealand, with offices in 4 countries around the world. Centrality builds the CENNZ network and CENNZ software tools. Centrality also helps developers build applications on top of the network.

What is the purpose of Centrality as a company?

Centrality is building a platform to enable a more equal and fair world for all users. Right now, your data is owned by 4 big internet companies and they use it to make huge profits – they also use their power to shut down competition. We believe the Centrality marketplace will put people back in control of their data and allow smaller companies to succeed by working together, this allows for a fairer world for everyone.

Who stands behind Centrality?

Centrality was formed by a world leading team of entrepreneurs with significant experience in developing technology and payments business. Several of the team have managed and built billion-dollar business. The technical team come from leading tech companies, blockchain companies and universities such as Alibaba, Baidu, XERO, Google, IOTA, HYPERLEDGER, Consensys and the Max Plank institute. Centrality is also partnered with large corporate clients, such as banks, airlines, fast food chains, global payments providers, insurance companies, logistics and shipping companies, advertising and media companies and governments. In addition, Centrality develops applications for world leading blockchain companies such as SingularDTV and Blockhaus.

Centrality has 70 world class engineers and business people.

What do you plan to achieve by this token sale?

We will continue the success of our pre-sale where we raised 40,000 ETH to expand our network, increase the number of users on the platform, encourage more developers to build exciting applications on our token protocol.

What benefits can people achieve by joining to CENNZ token sale?

CENNZ is a world-first, integrated network of blockchain applications. These applications all work together to help each other grow, creating a powerful one-of-a-kind marketplace of applications, all using the CENNZ token. Centrality is different to many blockchain companies who sell their tokens before they have built any technology or created any real users. Centrality has a portfolio of applications, many which are already working and generating revenue. All of these applications will quickly start using the CENNZ network and building value together.

Why will the demand for the CENNZ grow?

As more applications use the Centrality Platform (and more users use those applications) the demand for CENNZ will increase. As the marketplace becomes bigger the incentive to join becomes bigger.

How will the CENNZ be created?

CENNZ are created (minted) in a smart contract. When approved buyers send ETH to this contract they are sent the right number of CENNZ in return to the specified (and approved) wallet address.

Can I mine CENNZ?

CENNZ are minted and earned, not mined.

How will smart contracts be used in the Centrality ecosystem?

Centrality develops a range of smart contracts for different purposes, such as managing identity, exchange of tokens, rewarding token holders, paying merchants, sharing revenue and on-boarding users.

Can I see the smart contract?

Yes, these will be made public.

Why are only 70% of the tokens being sold? What happens to the rest?

The other 25% of tokens are used to buy the intellectual property in the Platform from Centrality Investments, with 5% set aside in a reserve for Centrality Platform.

How many coins are allocated for the Centrality team?

The existing founders, investors and developers who have been working on Centrality over the last 18 months, and have invested personally, will receive 25% of the tokens to continue to motivate them to see the project through to success. An additional 5% of the token supply is retained by the platform to fund initial operations. The founder and developer tokens will be subject to a lockdown period of 24 months – during this time the tokens will not be able to be traded. The team will not directly receive the ETH raised from the token sale, this will be managed by an independent board to manage the platform investment in the best interests of the token holders. An independent director will be appointed to the Board of Centrality Platform Limited at the conclusion of the main sale.

Where will CENNZ be tradable?

A number of top tier exchanges have expressed an interest in listing the token. However, the primary objective is to grow platform utilisation, and any value arising from the secondary market is a by-product of expected platform growth, rather a focus for the company.

When do I get my coins?

Your coin will be purchased in the token sales application. This is a decentralised process, and the token purchase happens automatically via a smart contract once ETH has been transferred.

What will happen to the coins that are not sold during the token sale?

We expect all the coins to be sold during the token sale, unsold coins will be managed by the Centrality Platform to incentivise growth in value of the CENNZ network.

Will additional CENNZ tokens be created after the main sale is completed?

No, the number of CENNZ tokens is limited to those issued in the main sale. Tokens used in the platform will be ‘burnt’ and replaced on a 1-for-1 basis. 

Where are CENNZ tokens being stored?

You store CENNZ tokens in your own wallet, they are under the control of your own private key at all times

Where can I use CENNZ?

The intention is that CENNZ can be used anywhere in the CENNZ marketplace. It’s possible that additional applications for CENNZ may emerge as the network develops, such as merchants connecting to the CENTRAPAY platform inside web checkouts or traditional point of sales systems.  

How can a holder of CENNZ benefit?

CENNZ holders can benefit by using CENNZ in the network. Developers who hold CENNZ can purchase the resources to develop their applications in the marketplace. As demand for CENNZ increases, so will the value to CENNZ holders. CENNZ holders can benefit by using CENNZ in the network to access the Centrality Platform, or to receive incentives or rewards from other Scene Companies.

How does CENNZ differ from competitors?

CENNZ is different from many blockchain projects because we already have real working applications, with real customers using them, in the real world. CENNZ is also different because the applications on Centrality can work together to help each-other grow. For example, our decentralised taxi application will work with a decentralised restaurant application to bring passengers or deliver food. Centrality is focused on mass consumer use cases and increasing the general population’s access to blockchain, beyond simple currency use cases like Bitcoin. We believe the future of blockchain is in useful applications you can use every day, across your life.

Who are your investors/partners?

We have a wide range of partners and investors you can find our partners on our website www.centrality.ai/about

How will the product develop after the token sale?

Centrality is unique, because we already have existing technology and we can focus on growing our network. However, we have a product roadmap full of exciting new features, modules and APIs for developers. We are also planning to shortly release our own unique blockchain platform, which solves many of the issues with scaling and user experience from other chains.

How is CENNZ maintained in a legal field? 

CENNZ will be issued by Centrality Platform Limited. The company has taken legal, accounting and taxation advice and will be appointing an independent director.

How is the collected cryptocurrency regulated by the tax authorities?

Investors may need to take tax advice as to the tax consequences for purchasing and dealing in CENNZ, as the tax treatment varies by jurisdiction.

I’m a US resident, can I participate?

The current position regarding investment by US Residents is unclear due to FATCA. We recommend that US residents seek advice from their local legislature.

Are there other countries where I cannot participate?

Please check your local regulatory guidelines on investing in an ICO. Only approved buyers can send ETH to the contract.

Developing a peer to peer marketplace.