The Peculium project, based in France, aims to use artificial intelligence and machine learning to help savers and investors build wealth while leveraging blockchain technology. The token, PCL, is ERC20 compliant and thus runs on top of the Ethereum blockchain.
The name of the project comes from “pecul,” which in Latin translates to savings. The artificially intelligent program from which the project is largely based is referred to as AIEVE (Artificial Intelligence, Ethics, Values, and Equilibrium). AIEVE is programmed to use a multitude of data points to make predictions about the future and hence build wealth. AIEVE will manage cryptocurrency assets for individuals, brokers, and businesses, who in turn will decide the level of autonomy of AIEVE with which they feel most comfortable. As stated in the Peculium whitepaper, AIEVE is based on many years of research and development in artificial intelligence.
By using the Ethereum blockchain, Peculium transactions will be stored immutably on a global ledger. Blockchain technology will allow for superior transparency and security for users of the platform. The Ethereum blockchain features self-executing “smart contracts” that allow parties to transact without middlemen, thus reducing the costs for the parties involved. Like the Ethereum blockchain, Peculium software is open-source and transparent. Due to the importance of security for building trust among users of the platform, the project will allot substantial sums to invest in security and will hire outside firms to analyze the security of the platform.
A quarter of the funds from the crowdsale will go into the First Solidus Contract (FSC), a self-managed smart contract that will run for six months. Besides building wealth for investors, FSC is meant to showcase the power of AIEVE to investors. 50 percent of the profits of FSC will go to investors and the other 50 percent will be used to maintain the project and fund its expansion. The profits of future smart contracts will also be evenly split between investors and the project.
In total, 20 billion PCL tokens will be created, and roughly three billion will be held by the project to keep it running smoothly. As an ERC20 token, PCL can be stored in popular Ethereum wallets.
The presale of the project will take place from November 1 to November 25, 2017, and the ICO will take place from November 26, 2017 to March 1, 2018. The project aims to attract a minimum of seven million euros and will regard the crowdsale as a complete success if 50 million euros is reached. Investors will be able to get better bonuses the earlier they purchase PCL tokens. After the ICO, the project will seek more investors to allow it to grow.