***Borneo In Malay is an island that is situated in the South East Asia Region and it has three authorities that it falls into and they include the Malaysian State of Sabah and Sarawak(North), Brunei(northern coast), and Indonesia(south)***.
A great prospect under the name **Borneo First** gave investors the opportunity to participate in Blockchain projects run by them and the aim of this projects was to unveil the true potential of Borneo Island while preserving its rich nature and wildlife. This team focuses on three main projects and they include: **Coal Green Mining, Independent Power Plant, and Cryptocurrency Mining.** Other upcoming projects include CSR projects that place more priority on the preservation of endangered such as Orang Utan.
Borneo First team works endlessly to give more value to the Borneo Coin as well as engaging actively with the community to forsee what projects they should pursue.
### Why Invest in Borneo Island?
There is a vast reasons of why one should invest in Borneo Island, and it's a known fact that its the third largest island in the world. It's also popular for its available natural resources and vast economic potential. Some few reason of why Borneo Island is a good investment area include..
1. **Rich Natural Resources:**
This is one of the major reasons why BF should invest in Borneo Island. The island has a very rich natural resources which include gold, coal, diamond, oil, gas as well as a great agricultural potential e.g. Palm tree plantation.
1. **Low Incidence of Natural Disaster:**
This island has a very low rate of Natural disasters as all of its volcanoes are extinct, earthquakes are a very rare occurrence as well as landslide and flooding.
1. **Climate:**
There is no extreme weather conditions as they don't experience dry season and it's usually hot and wet annually.
1. **Equitorial Zone:**
The geographical location of this island on the world glove is the Equitorial area where it experiences the most sunlight all through the year and this is very suitable for the construction and development of solar power plant.
1. **Stable Government and Good Business Rapport:**
A very secure environment is needed for a business to succeed and this is necessary for a long term investment and Indonesia has a stable government. They removed absurd taxes on imported goods and machineries, and also created the one stop permit services center to issue all government permits and licenses easily.
1. **Low Cost of Living:**
Indonesia has a very low cost of living and it has an index of 39.74 and a rank of no 81. So the cost of living here is cheap moderately
1. **Low Land Cost:**
This island has an affordable cost of land acquisition and it is 1USD PER square metre and this is very affordable for a project that requires a very vast amount of land.
### Projects Portfolio
According to the whitepaper, BF decided to combine multiple forms of income into a single one where they will not only ensure the value of the investment but also the growth of the investment into a massive creation of wealth.
Three projects were born and they are
1. **Coal Green Mining Project**
Coal is a fossil type of energy and till date even if we use renewable energy, we still depend on it. The fact is ever since 1970, the usage of coal derived electricity has been increasing around the world and it currently fuels about 41% of the global power. This being expressed, coal mining is very solid being a very tested and proven business model.
Due to the recent development on the prices of coal, BF team members with knowledge on coal business decided it was the best time to enter the coal market based on the coal market price and the price has been climbing gradually since 2017.
The BF team wants to produce coal and its mining in such a way that it has a very little effect on the environment. This project will produce an Eco-friendly Thermal coal that has the properties of low ash and low sulphur and it will have the lowest HAPs in the world.
They also aim to buy small scale mining sites, use biodiesel fuel for thier machinery, heavy equipment and vehicles.
They also want to adopt a specific mining method called open cut mining and this has a very eco-friendly method.
With all this in place, that's is why we call it the Coal Green Mining.
The coal output is monetized by providing to the following organisations
Independent Power Plants
Cement, Paper and Steel Factory
Overseas Export.
1. **Independent Power Plant Project**
This was included in the project as a way to maximise the profits from coal mining by producing electricity that can be sold to government for a monetary value and used to power the Cryptocurrency Mining.
Also in this project, due to the situation of the island in the Equitorial region where it receives a lot of sunlight, a Photovoltaic Power Plant will also be set up and it will be the biggest solar farm in the whole of Borneo Island if not Indonesia.
1. **Cryptocurrency Mining Project**
For a mining project to succeed, cheap electricity is the major key as it occupies about up to 50% of the total running costs of a mining site. The facilty to be built will use state of the art mining technology, cheap and stable electricity and thermal heat management to conserve energy and protect the investment.
### Token Economy
The following considerations were made by the BF team in choosing what blockchain platform to host its coin;
1) The blockchain network must be secure and public
2) it has to have a well proven robustness and has a great support by the foundation.
3) It must have a high liquidity as a digital currency
4) it can be easily placed in exchanges with an infrastructure in place.
It was then decided that Borneo Coin (BMG) will be in the form of an ERC20 token hosted on the Ethereum Blockchain, and it has a fixed supply of 150 million tokens.
### Schedule of BIG Token Sale
The presale for early investor is expected to take place on April 4 2018 and end on June 30, 2018.
The ICO phase 1 is expected to start on July 1st 2018 and end on July 31th 2018.
The ICO phase 2 is expected to start on August 1st 2018 and end on August 31st 2018.
#### Terms of Payment
The minimum amount of BMG tokens to be purchased is 100 BMG
and it can be payed with either Bitcoins or Ethereum. Other ways of Payment may be available in the future.
<hr>
Presale- 1 BMG=$0.30 Referral Bonus: 30%
Token availabe for the presale: 10,000,000 BMG
<hr>
ICO Phase 1 - 1BMG=$0.50 Referral Bonus: 20%
Token available for ICO phase 1: 70,000,000 BMG
<hr>
ICO Phase 2- 1 BMG=$0.80 Referral Bonus: 15% for 1st week,
10% for 2nd week and 5% for the 3rd week.
Token availabe for the ICO Phase 2: 50,000,000
<hr>
Regular Sale - 1BMG=$1.00 minimum Referral Bonus: 5%
Token remaining from the ICO will be on sale till it reaches the maximum supply.
<hr>
This sale is open to everyone while KYC and AML are applied and also its restricted to residents of Singapore, South Korea, China and USA investors.
### Token Distribution and Proceeds.
There is about 150 million tokens available and 87% will be distributed to the general public in the form of presale and ICO. Then 3% will be distributed to advisors and bounty and another 3% for the core team. The remainder 7% will then be locked as reserve for 3 years.
The proceeds from the ICO will be distributed as follows; 30% for coal mining and trading, 28% for crypto mining, 26% for the independent power Plant, 12% for the operating costs and lastly 4% for the R&D.
Website: https://ico.borneofirst.com/
Whitepaper: https://ico.borneofirst.com/assets/files/white-paper.pdf
Telegram: https://t.me/joinchat/IblZdBBewOsXg7gI6kQXUg
Twitter: https://twitter.com/Borneo_ICO
Facebook: https://www.facebook.com/borneofirstico
Ann: https://bitcointalk.org/index.php?topic=3587008
Author by: hamzeto
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1189991
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