Announcing CONSTRUCTION token. Deadline 15th October

[mf-tzo]

I like how the UIA are used here to help out fund a project. You said that the funds and their return are secured through the local municipal? 11% is quite an interest. Why so expensive?

Also, the road seems almost finished. How much of the 150k has been spent already?

Thank you for your interest!

Regarding the interest i guess it depends on perspective. For some people this may seem high, others may see it low...

Regarding the road it is by far not finished. The reconstruction started about a month ago and it is estimated that it will take 12 months or max 15 months in order to finish. The photos that you see show only just a very small portion of that road.
   
The approved budget from the local municipal is 150k. This is sufficient to complete the project and make some profit. Those funds obviously are not released from day one to us. We need to spend our money first, complete part of the road, the local authority measures what has been done and then we get paid. Hence the short term cash flow issue and the need for a loan.

I am confident that we will be able to meet the repayment of the max $1,100 interest. If in a project of a budget of $150k that will last more than a year they don't make $1,100 profit then...they should obviously change a job..lol..

Please let me know if there are any other questions and thanks again for the interest.

[Chris4210]

I like how the UIA are used here to help out fund a project. You said that the funds and their return are secured through the local municipal? 11% is quite an interest. Why so expensive?

Also, the road seems almost finished. How much of the 150k has been spent already?

[mf-tzo]

Bumping this thread! Please consider supporting the "construction" token.

You will be helping someone raise financing who is in need.
You will receive interest on your bitusd stash.
This will be very good marketting for bitshares and if we manage to reach a decent portion of our target I will let everyone know about this.

P.S. I have no personal gain from all this.

[mf-tzo]

I doubt you'll succeed without open yourself. Also i was hoping for regular Steemit updates from building process. I would like to see that road. How it looks? How long it is? What work must be done and so on... Even if you are honest you can still fail with this and be unable to pay your debt. I want this go real because marketing potential,  but I will not risk more than that.

@nmywn  I think you are right and I will follow your advice. Here are some photos. This is only a small part of the project. The sidewalk  is 1.5km distance and 3 meters width. What we do is we change the old pedestrian walk and replace it with a new one which will be friendly to people with special needs, will not gather water when it rains and people could walk on a proper sidewalk. In one of the photos you can see that work is being done outside of a school. If we manage to get the requested funding or at least a good portion of it I will keep you guys updated here and in steemit,

https://i.imgsafe.org/3dc2499d4e.jpg

https://i.imgsafe.org/3deaa89c4e.jpg

https://i.imgsafe.org/3debeb7f7e.jpg

https://i.imgsafe.org/3ded9b09c9.jpg

https://i.imgsafe.org/3def8e6780.jpg

https://i.imgsafe.org/3df0b1be7b.jpg

[nmywn]

I doubt you'll succeed without open yourself. Also i was hoping for regular Steemit updates from building process. I would like to see that road. How it looks? How long it is? What work must be done and so on... Even if you are honest you can still fail with this and be unable to pay your debt. I want this go real because marketing potential,  but I will not risk more than that.

[yvv]

Sorry, I don't give my money to strangers.

[mf-tzo]

Thank you very much for the interest and for the questions Guys.

@nmywn . My intention is not that you lose $25 but that you rreceive back $27.75 (1.11 on your investment or maybe less if you request buy back earlier). In any case, thank you very much for your support it is appreciated!

@Brekyrself

1. There are a lot of official supporting documents but in Greek. I would not like though to publish these in a public forum.
2. Same as 1
3. Very simple...bitusd ==> bts==>btc==>eur and withdraw the euro but I guess you are wondering about the capital controls here..The amount of new money coming from abroad can be sent abroad again at any time. On top of that Greeks can safely transfer abroad 1,000 per month. The maximum interest on the $10,000 is $1,100 in Jan 2018. So no problem with any capital control.
The only risk that you guys face are:
a) I get hacked before I withdraw in euro
b) Serious Bail ins, the government seize all our money and we are left to die so I guess no one will have any money here anyway. Even if this happens I am the kind of peorson that value my word and reputation very much so I will do everything to repay the people who provided with the funding.
c) I am a scammer and I take your money and leave

@yvv

Regarding revealing my identity or my brother in law identity I really don't think it is necessary for everyone to know in a public forum, just to receive a couple of $ from many people that may max. to $10,000...I mean come on now..A lot of people in here have revealed their identity, people have invested much more funds in them and they have either disappeared completely or under delivered. Does knowing their ID made any difference? I don't think so...

We are investing in crypto. If we can't trust each other even with small amounts then what is the point..

Having said that..I am sure that if someone wants to find out my identity it shouldn't be that hard..I haven't taken any measures to protect my privacy since I have nothing to hide anyway. However, if there is someone, with some reputation in this community, willing to loan us at least $5k in one go but insists on knowing our IDs for his own piece of mind, official docs of my brother in law qualifications or any other documents he require, I guess it would be fair that I can provide him. Please pm me if that is the case.

Finally, I also think it would be huge if I can indeed raise this kind of funding via bitshares. I am in discussions to soon have an interview in a well known and read Greek newspaper with Q&A about bitshares and how they can help Greek people. I think you can imagine the publicity bitshares will have if I manage to raise the requested funding via bitshares. It will be like a light bulb for many people here..

Once again thanks for your support. Please spread the word and let me know if you have any other questions.
 

[yvv]

This is a nice use of user issued tokens, but man, if you want to borrow money, you got to reveal your identity.

[Brekyrself]

1.  Are there any official documents we can see to show us the project details?  Perhaps something that shows the scope of the project and names your brother in law as the engineer?

2.  Are there any documents on your brother in law's capabilities?  Licenses etc..?

3.  I'm curious with you living in Greece, how will you go about converting the token > euro for the initial funding required?


The more documents you can provide the more people will be willing to invest.  This is significant if it works out and can change the way the people of Greece get financed.

[nmywn]

I can lose $25 on this.

[mf-tzo]

Announcing the first Loan via bitshares. “CONSTRUCTION” token.

My brother in law is a civil engineer in Ioannina city – Greece. He has recently undertaken the reconstruction of a pedestrian road in his city due to be completed within 14 - 15 months. Unfortunately the way the Greek system works is that he has to pay first from his own pocket, complete portions of the construction and then he gets paid by the municipality of Ioannina city. This has cash flow implications. In addition the Greek banks do not lend anymore any loans, even in this case that he is guaranteed to get paid by the municipality of Ioannina. The funding for the completion of the construction is secured throughout the duration of the project from the annual budgeted municipal expenses.

The approved budget for the project is 150,000 euros. Due to the cash flow difficulties mentioned above we have created in bitshares the “CONSTRUCTION” token. Max targeted amount to be raised is $10,000.

You can purchase “CONSTRUCTION” until 15th October at the price $1 each. After this date “CONSTRUCTION” tokens will not be available for sale.

https://bitshares.openledger.info/#/market/CONSTRUCTION_USD

I will be managing the “CONSTRUCTION” funding and will buyback  all the sold tokens as per the below schedule.
Date           % of sold tokens bought back                Buy Back price
1-Jan-17                                   2%                                             1.02
1-Feb-17                            2%                                             1.02
1-Mar-17                           2%                                             1.02
1-Apr-17                                   2%                                             1.02
1-May-17                           2%                                             1.03
1-Jun-17                                   2%                                             1.03
1-Jul-17                                   2%                                             1.03
1-Aug-17                           2%                                             1.04
1-Sep-17                                   2%                                             1.04
1-Oct-17                                   2%                                             1.04
1-Nov-17                           2%                                             1.05
1-Dec-17                                   2%                                             1.05
1-Jan-18                                 76%                                             1.11

I understand that some people may want to exit their investment earlier so on the basis of first come first served they may be able to exit earning smaller return on their investment. It goes without saying, if there is no demand to buy back earlier the tokens, any remaining tokens each month will move to the buy back order of next month. Some people may exit earlier earning 2%-5% but those who exit upon expiry of the term will receive 11% on their investment. If during the project, there is no cash flow issue anymore, we will buy back all the tokens at $1.11 on an earlier date and repay the full loan.

I understand that this is based purely on trust and that I will repay the loan. As most people know, I am a long term bitshares investor from the very beginning and I do not intend to scam anyone and hurt my reputation.

This should be considered a secure investment of your bitusd with high return up to 11%. Your support will be greatly appreciated!

Please let me know if you have any questions or anything is unclear.

Thank you very much
mf-tzo