On 21st August 2017 – Dubai – The Farad Cryptocurrency Program is popularly known as (FRD) is introduced via its official launch at “The Ritz-Carlton, Dubai International Financial Centre”.
FRD with two of the latest technology innovation is an inimitable cryptocurrency in the market. The technology comprises Blockchain and Ultra-Capacitor over 2 compelling sectors – Telecommunication, Energy storage and the Internet.
ICO Launch of Farad Cryptocurrency
The pre-sale ICO of FRD will begin by 25th August to 14th September by its CEO but the actual ICO will put into action from 15th September to 30th September 2017. Here is where 128 billion FRD will kept on Sale.
FARAD which is initiated by Dr.Wan M Hansi is a unique currency supported by actual economic activity and cash flow via high-end Ultra capacitor processor within actual factory settings. It is where the FARAD represents energy storage innovation through manufacturing, inventions, and delivery of these ultra-capacitors. Furthermore, Blockchain is based on Ethereum ERC20 Smart Contract.
In his welcoming speech Chairman & CEO of the FARAD Program
Dr. Wan M Hasni shared, “The FRD has strong economic fundamentals and is the first of its kind among the cryptocurrencies that are currently available in the market. Our aim is to allow cryptocurrency holders unique and safe access to the ultra-capacitor market by narrowing down their participation to the initial stage of the FARAD ultra-capacitor products manufacturing process. In order to achieve the aim above, the public will be offered an opportunity to hold the FRD.”
He further stated that Fund from the ICO initiation will be consuming to obtain procure stock for raw material (metal oxides and carbon-based materials), other equipment. Besides this, it will be used towards patents as well as the Blockchain development for the manufacturing process. Furthermore, It is to cover the cost of marketing for the ultra-capacitor business and promotion of the Initial Coin offerings.
“Each FRD represents a right to the forward production of Ultra-capacitor Cells (“UCC“) defined by the millifarad (“mF”) of the UCCs. A total of 1.6 billion mF will be produced over a period of 36 months.” he added.
Blockchain will be recording the ultra-capacitors produced by the factory. This process will make certain fully accountable process, fully transparent and offer access to anyone audit it anytime. It will be public blockchain which intensifies trust and security for FRD subscribers/members.
Expectations and Analysis
By 2024, the global market of ultra-capacitor is projected to reach $8bllion and surging to $9.88billion by 2025. However, with the years of R&D, FARAD team is confident that these ultra-capacitors will outperform other ultra-capacitors available. It performs as the breakthrough device. Since it is based on proprietary electrochemical technology, it acts as the link between capacitors and batteries. Further, FARAD aim is to resolve most challenging power and cost management problems of the technology companies.