CTK : a Blockchain-based Utility Token
The Cryptyk Token (CTK) is the new digital currency for enterprise-class cloud security and storage applications from Cryptyk Inc. CTK is a utility token that leverages the permanent immutable nature of consensus driven blockchain technology to underpin a new independent digital economy for secure enterprise cloud applications. The primary function of the CTK Token is for the processing and logging of cyber-security and payment related verification tasks for Cryptyk's SaaS security and storage services. When initially launched on secondary exchanges in Q2 2019 the CTK smart contract was built on top of the ERC-20 Ethereum protocol to establish initial liquidity and a trading regime. However CTK is blockchain agnostic and can sit on top of most existing blockchain protocol such as Bitcoin (BTC), Tron (TRX) and Hyperledger, or even advanced protocols yet to be developed. This makes CTK tokens "future-proof" against the potential availability of improved blockchain protocols.
In Q2 2020 the CTK economy will be integrated with the CRYPTYK CLOUD product suite that includes the VAULT cloud storage and SENTRY cloud security platforms. This hybrid blockchain integration will form the underlying payment processing system for a new independent decentralized cloud ecosystem. CTK's token utility is used for the fast processing of network security verifications for the SENTRY security auditing platform. CTK also acts as the underlying payments platform for SENTRY and VAULT plus the numerous software applications (or APPs) to be built on top. The CTK token economy will help drive customer adoption of the CRYPTYK CLOUD product suite and also incentivize 3rd party development of an APP ecosystem built on our ultra-secure cloud storage. Building an engaged community of software developers will be key to the evolution of CRYPTYK CLOUD from a SaaS product into an open source ecosystem that organically builds new applications by itself. To this end Cryptyk Inc has founded the non-profit Cryptyk Foundation to manage the customer, developer and investor communities for the benefit of all stakeholders.
Explainer Video: CRYPTYK CLOUD Ecosystem
Token Economy Structure
The CTK Token Economy was developed in early 2018 with the CTK smart contract creating 750 Million digital tokens (fixed in number forever). The initial distribution of CTK tokens was as follows:
(1) Initial Circulating Supply of 300 Million CTK (40%)
(2) Company Supply of 250 Million CTK (33%)
(3) Community Supply 200 Million CTK (27%)
A total of 300 Million tokens were issued to investors via the CTK token sale and to strategic marketing partners via token swap agreements. The token sale and swap processes created over 300 new token holders which formed the initial circulating supply for trading on secondary exchanges. It also raised $4.2 Million of funds for product development and added $13.2 Million of intangible digital assets to the company balance sheet.
The Company supply consists of 250 Million CTK tokens that are reserved for Cryptyk Inc shareholders and staff. These will be issued to staff in stages starting in Q2 2020 once the CRYPTYK CLOUD product platform has been successfully launched. The Community supply consists of 200 Million CTK tokens and is managed by the non-profit Cryptyk Foundation. These tokens are for issuance to key enterprise customers and 3rd party app developers from Q2 2020 once the product platform has been launched.
Customer Adoption drives CTK Value
The CTK Token Economy will not exhibit any growth due to product utility until the CRYPTYK CLOUD product suite is launched in Q2 2020. Until then CTK price and market behavior will solely be determined by market sentiment and investor speculation (ie: similar to a security or share). Nonetheless we can expect the CTK price regime during the pre-launch and trial phases to be between 0.01 cents and 1 cent. Once the product suite has been launched CTK price will start to be increasingly determined by its product utility. Hence, CTK price will be primarily driven by customer adoption and grow exponentially during product launch and sales growth phases. While CTK pricing cannot be accurately forecast or guaranteed, estimated price trading regimes* are shown in the diagram here ->.
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Buy and Sell CTK Tokens on Cointiger
Cryptyk is currently listed on Singapore based Cointiger which is consistently rated in the Top 15 global crypto-currency exchanges in terms of daily trading volume. Initially the only trading pair will be CTK/USDT (BTC and ETH pairs to be added soon).
Adam Weigold, PhD
CEO, Chairman & Founder
Raghu Kotha
CTO & FounderCyber-Security Expert, Blockchain Developer, Full-stack Coder, White-hat Hacker, ex Silicon Valley Bank, Bell Labs
Dennis McMasters
Chief ArchitectAutomation Expert, Platform Architect, Developer, former NYSE, “the guy who automated the NYSE”
Daniel Floreani, PhD
Enterprise Solutions ManagerComputer Scientist, Research Fellow, Enterprise Architect, former Cisco Systems and Australian DoD
Mihkel Trink
Product ManagerSystems architecture and integration expert, Software Developer, former Ericsson
Wes Francis
Sales & Marketing ManagerPartnership Management, Speaks 6 languages, 7 years Fintech / Startup experience in Shenzen & Hong Kong
Derek Grocke
Cyber-Security ManagerCyber-security professional, platform security auditor, network tester and full-stack code-breaker
Jen Peng
DirectorCorporate lawyer, Corporate Finance Expert, Angel Investor and former Executive Director at Morgan Stanley
Indra Singhal
DirectorSeasoned Silicon Valley COO / CFO / Director, Venture Capitalist, Startup Mentor, Board Director
Robert Bender
Fintech AdvisorFinancial and Banking Cyber-security Specialist, CTO of Founders Federal Credit Union
Tian Jia
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Andre Mintz
Cyber-Security AdvisorCyber expert with more than 20 years experience building security and privacy risk management programs.
Ian Scarffe
Blockchain / ICO AdvsiorBitcoin, Blockchain and Crypto Luminary. Rated Top 10 Blockchain Expert on ICObench
Aly Madhavji
Crypto-currency AdvisorICO Expert, Award winning Blockchain Author, Asian ICO Adviser, CEO & Founder Global DCX
Chris Guidroz
Cyber-security UI AdvisorCyber-UX specialist and front-end developer, Founder of Leap Labs, former Skyhigh
Prof. Erich Weigold, A.M.
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