Slock.it For Investors #1 – What Is Slock.it?

This is Tai Zen here. I am broadcasting from the headquarters of the World Bitcoin Network, and I have some friends here that are asking me what I’m going to be investing into next, and I was talking about this new cryptocurrency that’s coming out called Slock. It or some people call Slock It. And it’s the ‘S’ in ‘Slock’ stands for ‘smart’, and ‘lock’ for basically ‘smart locks’.

So I have my good friend here behind the camera who chooses to remain anonymous until he becomes a cryptocurrency billionaire then he will review himself. So he’s going to ask me some questions because he wants to know why or how to invest in Slock. It.

So I’m going to share with you guys some of this stuff and then he’s going to fire off some questions in the background and I’ll answer. I was going to explain this stuff to him anyways, and we both decided to record it so that you guys can listen to it as well.

So to start things off guys, Slock It, now I think they call it “Slock” but I think it sounds cool just to call “Slock It” because that sounds much better than they called it “Slock”. So Slock is a new cryptocurrency that is going to be laying on top of the Ethereum network, or the Ethereum blockchain or the Ethereum public ledger.

So it’s created by… first of all, one of the things that people always ask me, my friend is behind the camera here, I’m looking at him talking to him. So one of the things that you want to know about Slock. It is, first of all, What is it? Who’s behind it? What’s the purpose of it? and all that stuff.

So the first thing is that Slock. It stands for “smart locks”, and is designed so that these smart locks, these hardware systems go on top of locks for doors, for storage units, for cars, for bicycles, for vehicles, for tools, for anything that people can rent out.

What it’s designed to do is they put these special hardware locks on these tools or devices or vehicles, and then if someone wants to rent it, they can go over there and pay for it through an app and then it will automatically unlock itself and you can go inside, use the house or use a vacation home, or the condo or the power tools or the vehicles or the bicycles or anything like that.

So I think it’s revolutionary and I plan on investing into it simply because I believe because wherever I travel into all the major cities, I see a lot of these… I rent a lot of cars, I rent a lot of bicycles in the parks and stuff, and in the downtown areas of the major cities, and that’s the reason why I’m looking into it, right. Any questions?

Interviewer: Sure. How do you go about getting this?

So they are going to do an IPO, except that in the world of cryptocurrencies, they don’t call it an IPO, they call it an ICO, which stands for initial coin offering.

So if you go to their website, I have the website in front of me, if you go to Slock. It so that’s “s-lock.it”, you can go there and the first thing I would suggest that you do is that you put your name and email into their mailing list, and what they’ll do is they will notify you when they get ready to do the ICO so that you don’t have to sit there and check their website every day.

And then they’ll notify you just like I did with the Ethereum ICO. During the time that Ethereum was released in August of 2014 or July of 2014, they called it the Ethereum pre-sale, but moving forward now, pretty much all the cryptocurrencies are calling it an ICO, which stands for initial coin offering.

And just a really quick disclaimer too, I do not workforce Slock. It, I do not know any of those guys personally, I have never talked to any of those guys personally, they are not paying me to make this video. I am making this video because you were asking me about it and you suggest that I record it so that other people can learn it too.

So I just want to make people know that in no way am I being paid to make this video because that’s important because I don’t want people to think that. If I have affiliated with the guys, I would say it, it’s not something I would hide.

Just like when I invested into the Ethereum, you guys saw me and James D’Angelo and my buddy Leonfu.com… That’s James D’Angelo on the back. He said, “I want you to make this video so I can heckle you in the background.”

So I just want you to be clear okay that I’m not making these investments, I’m just sharing with you guys what I know. This is not a buy, sell or hold recommendation because in America you’re not allowed to make recommendations to people unless you are a licensed financial advisor, and I am NOT a licensed financial adviser.

So I’m not allowed to make any recommendations. I am just sharing with you guys what I and my close friends are looking at and what we are investing in.

Interviewer:

So do you know about how much these locks are going to cost?

Now the hardware locks, I don’t know how much they cost, but if you go to their website and you look at the photos of the hardware that they present, and if you look at some of the videos where they present it at several conferences, it does not appear to me that the locks are costing a lot of money.

It’s basic hardware with some computer chips in it, so I don’t think it’s anything fancy. I think what’s fancy is the blockchain technology that they are incorporating into it so that other people can rent it.

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