Empowr Coin sale FAQs

Empowr Coin sale FAQsEmpowr Coin sale FAQs

About empowr

1. What is empowr?
2. How do I join empowr?
3. What is empowr’s mission and goal?
4. If empowr’s goal is to help half the planet, how does it plan to reach people with no internet access?
5. How am I making the world a better place on empowr?
6. How does empowr work?
7. How is empowr different from other social media sites?
8. How is empowr a democracy when it is a for-profit company?
9. I read online that empowr is a scam. Is this true?
10. Why doesn’t empowr sell advertising to corporations?
11. Why has empowr never accepted venture capital?
12. How does empowr make money?
13. Are SMS.ac, FanBox and empowr related?
14. What are some of empowr’s inventions?
15. Who is the team behind empowr?
16. Where can I find the latest news about empowr?
17. What are your social media accounts?
18. What are empowr email addresses legitimate?

Community

19. How many monthly active users do you have?
20. How active is the empowr community?
21. Where are your users located?
22. What are empowr educators teaching people?

Economy

23. What types of transactions are people making on empowr?
24. What is the average empowr user transaction amount?
25. How are items priced on empowr?
26. What is maturation and what are its benefits?
27. How does empowr generate demand for its cryptocurrency?
28. How does empowr retain demand for its cryptocurrency?
29. What’s empowr’s development roadmap?
30. How does the empowr marketing and compensation engine distribute coins? 

empowr Coin

31. What is empowr’s initial coin supply?
32. How can I become an empowr coin holder?
33. Is there a whitelist?
34. Will empowr coin holders own equity in the company?
35. How do empowr users mine (earn) coins?
36. Why should I consider the empowr coin as a good cryptocurrency to purchase?
37. What specific rights come with my coins?
38. How many coins are allocated to the company founders and employees?
39. Is the empowr platform built on open source technologies?
40. Does empowr need to be on a blockchain and does it need a cryptocurrency for it work?
41. Why is empowr doing an on-chain/off-chain approach?
42. What are the empowr coin economics? What is the total coin supply?
43. empowr’s goal is to serve 4 billion users by 2025. How will the limited coin supply be enough to support that many users?
44. I gave a coin receiving address that was not ERC20 compatible/was from an exchange. What can I do?
45. I lost my private wallet keys. What can I do?
46. I have a question regarding the empowr coin that is not listed in this FAQ. Who can I contact?

Bounty Program

47. What is a bounty program?
48. What are the dates of the empowr Bounty Program?
49. How many coins are being distributed in the empowr Bounty Program?
50. Who can participate in the empowr Bounty Program?
51. How can I participate in the empowr Bounty Program?
52. Are Know Your Customer (KYC) policies enforced with the empowr Bounty Program?
53. Will you offer future bounty opportunities?
54. When will I receive my rewards from the empowr Bounty Program?
55. Where can I find more details about the empowr Bounty Program?
56. I have a question regarding the empowr Bounty Program that is not listed in this FAQ. Who can I contact? 

Airdrop

57. What is an airdrop?
58. When will the empowr airdrop take place?
59. Who will receive the empowr airdrop?
60. How many coins will empowr airdrop?
61. Why is empowr airdropping 100 percent of its coins?
62. If I receive empowr coins in my ETH wallet from the airdrop, what would be my next step?
63. How can I triple my airdrop?
64. I have a question regarding empowr’s airdrop that is not listed in this FAQ. Who can I contact? 

CLICK HERE TO JOIN EMPOWR

About empowr

1. What is empowr?
A collaboration between top U.S. professors and seasoned Silicon Valley technologists, empowr is the world’s first platform to seamlessly integrate a next-generation social network, marketplace, virtual currency, and educational and political systems.

The result is a democratic social economy that belongs to, and is controlled by, its users, called empowr citizens.

2. How do I join empowr?
Click on the Sign Up link at the top of empowr.com to get started. You will be asked to verify your name and email address. Then you can create a password and security question.

3. What is empowr’s mission and goal?
empowr’s mission is to empower people by enabling opportunity, hope and influence. empowr’s goal is to help half the planet (4 billion people) earn an average of $25 per day by the year 2025.

4. If empowr’s goal is to help half the planet, how does it plan to reach people with no internet access?
There are many companies and social causes that provide free or cheap internet and mobile access to the most remote regions of the world. So rather than focusing on connectivity challenges, empowr is focused on providing a platform for those people to earn.

5. How am I making the world a better place on empowr?
empowr envisions a world where everything people want or need, will be in their hands fast and for virtually free. The company believes this vision can be a reality by building a robust economy that uniquely makes sharing more desirable than ownership.

By participating in the empowr economy, you’re doing your part to create this future. When everything we need becomes virtually free, there’s less poverty and inequality. Injustice is reduced. War becomes meaningless. We consume much less of earth’s natural resources.

6. How does empowr work?
empowr users can earn cryptocurrency by simply posting (photos, videos, blogs and status updates). Users can also earn by participating in the marketplace (buying, selling and promoting products and services) and coaching new users on how to use the platform.

7. How is empowr different from other social media sites?
empowr is different from other social media sites because it aims to deliver value back to its users by compensating for the value they bring to the platform. empowr is also a democracy — its users elect the company’s president.

Instead of focusing on addicting users to sell their eyeballs to corporations, empowr is uniquely enabling the “sharing of everything” IE: Not sharing your car or spare bedroom but millions of other products that go underutilized

8. How is empowr a democracy when it is a for-profit company?
While empowr is a for-profit company, operating democratically enables the company to be the most consumer-centric platform ever built, which ultimately leads to more revenues being generated, which are then distributed to users (who are the creators of the value that generate the revenue in the first place). By remaining for-profit, the company can stay competitive in the technology industry, using its equity (shares) to, for example, acquire other innovative companies to continually enhance offerings to customers, or raise capital via an Initial Public Company (IPO).

In addition, most companies operate under a leader who is selected by a board of directors with a mandate to increase company profits. But with empowr, its president is elected by its users. And since the leader in a democracy is only there for a pre-determined set of time, the company can re-evaluate its priorities based on a mandate from users every few years through a transparent election process.

9. I read online that empowr is a scam. Is this true?
With hundreds of thousands of alpha test users working in a laboratory environment, without accepting a penny from investors, any project is bound to have some detractors and negative comments.

Each month, users are asked to rate empowr. As you can see in the graph below, a portion of users give empowr a 0 – and everyone at empowr is working feverishly to improve the things that are upsetting users:

On the other hand, in the above image you’ll also notice that the majority of users give empowr a 9 or 10 – making it the highest ranked social media company on record compared to that of Twitter, Facebook and other social media platforms.

Every calendar quarter and year, for many years in a row, customer sentiment has been growing steadily. Indeed, the number of positive videos, posts and comments left by empowr users – by far – overwhelms the negative. You can read the comments for yourself.

So, what is the empowr community doing to continually improve offerings and customer sentiment?

One of the ways empowr has been able to improve customer ratings is by building the Success Coach program, which today consists hundreds of educators – speaking 45 languages — provided for free to all empowr users.

For more on this topic, read empowr and the biggest scam of all.

10. Why doesn’t empowr sell advertising to corporations?
In order keep advertising prices affordable for users, empowr ads are reserved for them.

The general public cannot compete with the advertising budgets of large corporations. So, by asking large corporations to refrain from purchasing empowr advertising, the company has a higher chance of ensuring that ad space remains affordable for users and living up to its mission of “empowering people by enabling opportunity, hope and influence.”

11. Why has empowr never accepted venture capital?
empowr has never raised a single penny from financial investors for one reason: So that empowr’s democracy (processes, policies, institutions and economy) has the best chance to thrive without being influenced by divergent interests. It ensures that the company has a higher long-term chance of operating for the benefit of its users as opposed to the prosperity of a small number of founders and investors.

Any platform can claim to be built for the prosperity of its users, but invariably will need to reconcile the inherent conflict between the two opposing objectives of maximizing shareholder profits vs. maximizing user prosperity.

12. How does empowr generate revenue?
To pay for operating costs, the company charges a 15 percent transaction fee on products and services sold. empowr also has revenue streams from advertising and subscription services that users purchase.

13. Are SMS.ac, FanBox and empowr related? 
Yes, they’re all phases of the same project.

The first phase (SMS.ac) was created with two objectives: To enable transactions within an economy (PayPal wasn’t adopted back in 2000 like it is today) and to generate revenue to operate the business. The intent was to never raise venture capital, so the economy empowr built would belong to its users. SMS.ac was successful at generating patents [anchor tag to inventions question #14]. One of those patents was for transactions over mobile devices, which helped generate $150 million to fund the operation of the business for the many years that followed.

After generating the capital needed to move forward, the objective of the second phase (FanBox) was to build the original alpha consumer platform. After operating for several years with 100,000 alpha users (in a closed environment), the third phase (empowr) was created to build the go-to market (open alpha) platform.

To better understand the history of empowr, including its challenges, phases, successes and failures, watch the documentary or read the book.

14. What are some of empowr’s inventions?
empowr invented hundreds of critical technologies, many of which are patented and used every day by billions of people, such as the ability for third party developers to launch applications (apps) in social networks (such as Facebook or Twitter apps); transactions within apps (such as buying a feature or virtual weapon within an app or game); virtual currency (such as what we’re seeing unfold today with Bitcoin and other cryptocurrencies); and transactions over mobile devices (such as what is monetizing most mobile apps). For a full list of empowr’s patents and other tech companies that reference them, click here.

15. Who is the team behind empowr?
empowr is comprised of engineers, economists, cognitive scientists and others with varying specialties. You can view the empowr management team here.

16. Where can I find the latest news about empowr?
Check out the community announcements blog.

17. What are your social media accounts?
Twitter: https://twitter.com/EmpowrOfficial
Facebook: https://www.facebook.com/empowrofficial/
LinkedIn: https://www.linkedin.com/company/3011860
YouTube: https://www.youtube.com/user/empowrcorp
Reddit: https://www.reddit.com/user/empowr_official/
Telegram: https://t.me/joinchat/HSki9RFxH1fMpy4CESIfbw
Medium: https://medium.com/@empowr_official
Discord App: https://discord.gg/YXTmpHt
Bitcointalk:

18. What empowr email addresses are legitimate?
TheCoin@empowr.combounty@empowr.com and support@empowr.com. For security reasons, we strongly advise to not communicate with empowr via any other email address.

Community
19. How many monthly active users do you have? 
empowr has 800,000 alpha users and it’s growing at a rate of 150,000 new users per month.

20. How active is the empowr community?
· 800,000 active alpha users
· 150,000 new users per month
· 3.7 million monthly visitors
· 12 minutes average duration per visit
· 20 average pages per visit

21. Where are your users located? 
empowr users are located worldwide. No single country is responsible for more than 10 percent of the user base.

22. What are empowr educators teaching people?
empowr has hundreds of educators called Success Coaches. Success Coaches are experienced users who are trained to help new users maximize the use and benefits of the empowr platform to help improve their lives. Learn more about the Success Coach Program.

Economy
23. What types of transactions are people making on empowr? 
empowr users are currently listing hundreds of thousands of new products every month. Products range from consumer electronics, jewelry, clothing and more.

24. What is the average empowr user transaction amount? 
Between $25 to $35.

25. How are items priced on empowr? 
Items are priced in $USD and are then displayed in empowr coins based on the most recent market price from the exchanges. By pricing in $USD, sellers can be assured that any volatility in the price of cryptocurrency will not affect how much they earn on a sale.

26. What is maturation and what are its benefits?
In empowr, earned coins must mature for up to 90 days before it can be transferred to an outside Ethereum wallet. Coins start maturing on the last day of the month in which they were earned. Two benefits of maturation include:

A. Curbing currency volatility: empowr’s innovative maturity process acts like a circuit breaker (also known as a trading curb in stock exchanges), as fear-based currency selloffs based on news events can be curtailed.

B. Unparalleled captive audience of buyers: The cryptocurrency can be used immediately within the empowr marketplace and ecosystem. The abundance of highly engaged customers with funds to spend means that anyone that has anything to sell or share – whether goods or services — physical or digital often find themselves able to easily earn by successfully selling those items, creating abundance for themselves and their families, and hope for their future.

27. How does empowr generate demand for its cryptocurrency?
There are two ways empowr generates demand for its cryptocurrency:

a. Lowering the bar for mining (earning) cryptocurrency
Instead of spending money on servers and specialized software to mine coins (like Bitcoin), empowr users earn coins by selling or sharing virtually anything. And for people that don’t have something to sell, empowr has lowered the bar even further by allowing users to earn by posting and sharing content. This means that the two billion people that already know how to post and share on Facebook and other social media platforms, know how to mine currency on empowr.

b. Launching a competitive marketing process
Marketing firms from around that world will receive a portion of empowr’s marketing budget based on their user acquisition costs. The lower the user acquisition cost, the larger the portion of the marketing budget they will receive.

Hear more on how empowr creates and retains demand for its currency from an empowr co-founder by clicking here.

28. How does empowr retain demand for its cryptocurrency?
empowr retains demand for its cryptocurrency in four different ways:

a) Using a 90-day maturation process, users are motivated to spend their coins within the ecosystem instead of transferring them out. As a result, a large percent of earnings is spent within the ecosystem.

b) empowr helps cryptocurrency holders build trust and engagement with each other, creating a network effect. This happens by focusing users on two questions:

i. Who in the network is most likely to return the favor if you help them earn (who’s the most trustworthy)?

ii. What can you do right now to help them earn?

c) By providing a steady stream of customer traffic to users providing products and services, the platform helps lower the bar for users to sell and earn coins, which helps generate and retain demand for the currency.

d) empowr helps subsidize the compensation that app developers pay their users with. This program is called Application Innovation Dollars (AID). AID helps fast-track an apps’ success, which results in thousands of new ways for users to earn coins, further generating and retaining demand for the currency.

Watch how empowr creates and retains demand for its currency by clicking here.

29. What’s empowr’s development roadmap? 
empowr’s development road map for 2018 includes (but is not limited to):
· Launch of empowr’s 3rd party app developer platform
· Enhanced features for product sharing and product transport
· Merchant platform to enable brick and mortar stores to participate in the empowr marketplace
· Updates to empowr’s election system
· Upgrade to empowr’s services marketplace

30. How does the empowr marketing and compensation engine distribute coins?
A majority of the currency supply will be allocated to the operation of the empowr marketing and compensation engine. The reward that each person receives is proportional to a measure of the value they have brought to the overall ecosystem and currency. Such value is assessed by a well-defined process that ensures the rewards are distributed fairly using an objective, merit and performance-based methodology that blocks fraud and gamers. The empowr marketing and compensation engine will initially be administered by empowr; however, over time, it will be decentralized based on smart contract technology.

empowr users will be able to earn coins – just as they have been earning empowr dollars and U.S. dollars – by selling or sharing physical or digital goods and services, posting and sharing content, and by helping others provide goods and services via a host of roles such as promoting, distributing, transporting, moderating, auditing, arbitrating, coaching, leading and managing. Users will be able to spend currency on physical and digital products, services, and other valuable assets offered by sellers, developers, and influencers, as well as on advertising, subscription and other services provided by the company.

empowr Coin

31. What is empowr’s initial coin supply?
empowr’s initial coin supply is 500 million.

32. How can I become an empowr coin holder?
You can become an empowr coin holder in several ways:

· Sign up to become an empowr user and start posting (photos, videos, blogs and status updates) and participating in the marketplace.
· Participate in the empowr Bounty Program.

33. Is there a whitelist?
Yes, there is a whitelist. Simply email TheCoin@empowr.com with how much you would like to contribute along with the form of payment you prefer.


34. Will empowr coin holders own equity in the company?
No, empowr coin holders will not own equity in the company. Buyers are purchasing utility coins that can be spent within the empowr ecosystem to purchase hundreds of thousands of products and services that are available globally.

35. How do empowr users mine (earn) coins?
empowr users can earn cryptocurrency by simply posting (photos, videos, blogs and status updates). Users can also earn by participating in the marketplace (buying, selling and promoting products and services) and coaching new users on how to use the platform.

36. Why should I consider the empowr coin as a good cryptocurrency to purchase?
There are many factors to consider when analyzing whether a cryptocurrency has a likelihood for success or not. Factors that may contribute to the success of the empowr coin include:

· The experience level of the team. View empowr’s management team and advisors.
· The current stage of a project. empowr has spent 17 years and hundreds of millions of dollars building its platform.
· The community and engaged customer base. empowr currently has 800,000 alpha users with thousands more joining each month.
· The utility for the coin. The more utility a coin has, the greater the demand. empowr users earned millions of dollars in virtual currency in 2017.
· The network effects. The best projects use a network effect to drive and retain demand for the coin. empowr has built a platform that combines the network effects of Facebook and eBay – two of the most valuable companies in the world.

There is no perfect science towards evaluating a cryptocurrency, as many other external factors exist that will materially affect the success of the currency.

empowr strongly suggests that all participants not spend capital on coins that they cannot afford to lose, and to remain focused on the utility of the coins as opposed to whether the coin’s price will appreciate over time.

37. What specific rights come with my coins?
With the purchase of empowr coins, you can immediately spend it within empowr on hundreds of thousands of products and services.

38. How many coins are allocated to the company founders and employees?
empowr has allocated 0 percent of its initial supply, and 10 percent of the eventual supply of empowr coins to its community, which is mostly comprised of its users, in addition to success coaches, advisors and employees. It’s a thank you for their contributions to the company’s mission and movement. All such coins are subject to very long-term vesting (lock up) and release to recipients at a rate of 1% per month.

39. Is the empowr platform built on open source technologies?
No, the empowr platform is not currently open source. That said, the company will incrementally transition away from its proprietary codebase to a fully decentralized and open source system in the near future. empowr will also oversee the development of important components shared across the entire ecosystem, such as identity and reputation management, cryptocurrency wallets and compliance solutions.

40. Does empowr need to be on a blockchain and does it need a cryptocurrency for it work?
No, it doesn’t need to be on a blockchain and it doesn’t need a cryptocurrency, however; empowr alpha test users are in a unique position to demonstrate how cryptocurrency economies might form and function in the context of a large mainstream user base.

The migration to the blockchain will enable empowr to provide liquidity to its users. By continuing to create demand for the coin, the value of the coin will appreciate, enabling its economy to grow faster.

Since empowr already has user adoption, the empowr coin will unlock even more functionality and value for its community.

41. Why is empowr doing an on-chain/off-chain approach?
There are two primary issues that suggest a purely on-chain architecture may not be optimal at the outset. The first issue is that Ethereum transaction confirmation times result in significantly delayed responsiveness that users typically expect from consumer applications. The second issue is that the Ethereum blockchain requires fees to be paid for every transaction. Fees are paid in Ether cryptocurrency, creating an adoption barrier for the average user. Given these barriers, empowr will initially implement a semi-centralized hybrid on-chain and off-chain transaction service for scalable interactions with the empowr cryptocurrency.

At the core, the transactions in empowr will be settled on the Ethereum blockchain. However, the company will host a centralized off-chain ledger with an API available to all digital service partners. This will improve user experience due to latency, avoid network fees when transacting between users, and avoid stress on the public network due to large transaction volumes.

42. What are the empowr coin economics? What is the total coin supply?
Beginning April 15, 2018, empowr will conduct an airdrop event that will distribute, for free, 500 million empowr coins, which constitutes the entirety of the initial available liquid supply. Thousands of cryptocurrency enthusiasts outside the empowr community will receive free empowr coins.

Going forward, each month the empowr smart contract will release a shrinking number of coins to the empowr marketing and compensation engine, which will be used to generate demand for the coin through:

· User acquisition: New users mean new demand for the empowr coin.

· User mining: Users are compensated for posting and sharing, an activity that 2 billion people are actively doing every day in social media without compensation.

As the empowr economy builds, so does the utilization of the empowr coin – the unit of account for all economic transactions within the empowr economy. The greater coin utilization, the greater demand for the coin. See graph below.

43. empowr’s goal is to serve 4 billion users by 2025. How will the limited coin supply be enough to support that many users?
In the decades to come, the supply of coin will approach, but never reach 10 billion coins. While that may not seem like enough coins to support billions of users, it is important to note that each empowr coin is highly divisible, with 18 decimals after the decimal point.

44. I gave a coin receiving address that was not ERC20 compatible or was from an exchange. What can I do?
If this happens, please contact TheCoin@empowr.com as soon as possible. However, empowr is not responsible for any delays, losses, costs, expenses, or other issues related to or arising from the loss of your private keys or any other access credentials. Also, please contact your wallet/exchange customer support team. In some instances, those coins could potentially be retrieved and directed to you.

45. I lost my private wallet keys. What can I do?
If this happens, please contact TheCoin@empowr.com as soon as possible. However, empowr is not responsible for any delays, losses, costs, expenses, or other issues related to or arising from the loss of your private keys or any other access credentials

46. I have a question regarding the empowr coin that is not listed in this FAQ. Who can I contact?
Please email TheCoin@empowr.com.

Bounty Program

47. What is a bounty program?
A bounty is how people can perform specific tasks, and in exchange, earn empowr coins. The empowr Bounty Program consists of several different bounty campaigns, including: BitcoinTalk signature, translation of whitepaper and official announcements, social media, YouTube, blogs, news articles and user acquisition. For specific details about the empowr Bounty Program, click here.

48. What are the dates of the empowr Bounty Program?
Tuesday, March 20, 2018 through Sunday, April 15, 2018. Beginning April 16, 2018, a new bounty program will begin (more details to come).

49. How many coins are being distributed in the empowr Bounty Program?
Each month, 10 million coins will be allocated towards the empowr Bounty Program.

50. Who can participate in the empowr Bounty Program?
Anyone over 18 years old can participate in the Bounty Program. You must also have an Ethereum wallet.

51. How can I participate in the empowr Bounty Program?
You can participate in the empowr Bounty Program by clicking here, choosing the campaign(s) you would like to participate in and following the instructions on how to sign up.

52. Are Know Your Customer (KYC) policies enforced with the empowr Bounty Program?
KYC policies are important internationally, especially among banks and other financial institutions. To prevent identity theft, money laundering, financial fraud and terrorist activity, please be aware that any reward arising from your participation may require you to furnish empowr with the industry standard KYC documents.

53. Will empowr offer future bounty opportunities?
Yes, empowr offers monthly bounty opportunities. Keep checking back on the bounty webpage for specific details and dates.

54. When will I receive my rewards from the empowr Bounty Program?
Rewards will be distributed within 7 business days after the conclusion of the Bounty Program (April 15, 2018) and will be sent to the Ethereum wallet address you submitted during the registration process.

55. Where can I find more details about the empowr Bounty Program?
You can find complete details on the empowr Bounty Program by clicking here.

56. I have a question regarding the empowr Bounty Program that is not listed in this FAQ. Who can I contact?
Please email bounty@empowr.com.

Airdrop

57. What is an airdrop?
An airdrop is a distribution of cryptocurrency coins to the wallets of some users, free of charge.

58. When will the empowr airdrop take place?
empowr’s airdrop will begin on Sunday, April 15, 2018.

59. Who will receive the empowr airdrop?
Ethereum blockchain wallets with a balance over a minimum threshold of 0.1 ETH will receive the empowr coin airdrop beginning Sunday, April 15, 2018.

a. empowr employees, citizens, founders and advisors will receive their coins on their off-chain empowr wallets and can transfer coins to their ETH wallet at a later date.

b. People outside empowr will get their coins distributed directly to their ETH wallets.

To ensure you’re on the list, sign up for the airdrop.

60. How many coins will empowr airdrop?
empowr will be distributing 500 million coins via the airdrop and bounty programs, which is 100 percent of its initial coin supply.

61. Why is empowr giving away 100 percent of its initial coin supply?
empowr is giving away 100 percent of its initial coin supply because it’s in the spirit of its democratic ideals. To learn more about empowr’s democracy and its commitment to sharing, sustainability and justice, watch this video.

62. If I receive empowr coins in my ETH wallet from the airdrop, what would be my next step?
There are several next steps you can take:

· You can sign up (for free) to become a user of the empowr platform and start earning more coins for doing what millions of people do on social media everyday: posting (photos, videos, blogs and status updates).

· After signing up as an empowr user, you can immediately spend your coins in the marketplace on hundreds of thousands of goods and services.

· You can also triple your airdrop by taking the steps to learn more about empowrVisit your account settings to learn more about tripling your airdrop

· You can participate in the empowr bounty program and earn more coins

· You can purchase more coins on an exchange.

· You can read the empowr whitepaper and learn how the empowr coin will change the world.

63. How can I triple my airdrop?
You can triple your airdrop by creating your empowr account and then learn how the platform works. Once you’re logged in, visit your account settings to learn more.

64. I have a question regarding empowr’s airdrop that is not listed in this FAQ. Who can I contact?
Please email TheCoin@empowr.com.