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To capture a bigger market share of the tech-savvy millennials, an eCommerce platform is going to implement its own utility tokens which permit its customers to carry out their transactions on their platform anonymously and swiftly. The eCommerce platform still accepts debit and credit card payments but for those customers who are willing to exchange cash for their utility tokens, the customers will be able to stretch their money further, with a multiplier of 1.1, which means SGD 1.00 = Utility token of 1.10.
To achieve this vision, the eCommerce platform will be conducting a public Initial Coin Offering (ICO) activity to raise capital for the project and using the very utility token as the “currency” to be circulated within the eCommerce platform.
You are consulted to write the Initial Coin Offering (ICO) white paper for the eCommerce platform to impress investors. Your white paper should include an introduction, vision, and mission, and illustrate the following in more detail:
(a) Create a smart contract code implementation that minimally transfers the utility token from one wallet to another, in Solidity language. You will be evaluated based on the correctness of your implementation, and your utilization of the relevant capabilities of the Solidity language.
(b) Discuss the token economy design (you are given the freedom to name the utility token) and its design rationale.
Describe the sales strategy (example: Crowd Sale) and other design considerations to ensure the sustainability of this implementation.
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