About Valorem Foundation
Valorem Foundation is developing a transaction platform which sets out to give users accessibility to loans, investments, crowdfunding, insurance, commerce, and charity using decentralized blockchain technology. Valorem Foundation (advalorem.io) should not be confused with Valorem (www.valorem.com), an unrelated organization. The VLR token uses the ERC20 token standard with Zerocoin Protocol. Valorem Foundation hopes to build a trusted decentralized platform which will appreciate the value of VLR for token holders as the transaction platform matures and continues to develop.
Great question. Before we started, we evaluated using the ETH or BTC, we quickly found that due to the importance of being able to implement our rules and specific requirements would involve us to fork them. We opted against that and thought it best to start with a clean slate. The other reason we opted to create our own currency is because we believe that we can maintain and grow the value via massive utilization of our platform. But we must do that without restrictions of current developed platforms. We believe that the value-added approach that we have mapped out will dramatically increase the value of the VLR once community realizes the platforms true potential.
We definitely need funding to build the platform. We absolutely agree that in the beginning a centralized method of creating the platform, rules and governing features will exist. However, we are huge proponents of the DAO method and believe that that is where we will push the development. Further, having a separate token and an independent platform does only create the ability to build something better and unique, but allows creativity to start from scratch. Since we are so focused on our project, it allows us the ability to work and build our own without having to worry about using something already partially created.