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RAIDAtech

Superior blockchain alternative using patented technology

Closed on 11/01/19
Minimum target reached (accepting oversubscriptions)

min$10k

max$1070k

funding goal 

$10k - $1070k

funding goal 

Regulation CF

exemption used 

Regulation CF

exemption used 

$10,700,000

pre money valuation 

$200.00

min investment 

$135,120

amount committed 

150

investors 


Security Type
Units of Ownership Interest

Pitch

Who are we

 

RAIDAtech is pioneering new uses of the patented RAIDA technology.

RAIDA is the

 

  • Redundant
  • Array of
  • Independent
  • Detection
  • Agents

 

RAIDA is ideal for any enterprise exploring blockchain but disheartened by blockchain's shortcomings. RAIDA is more scalable, faster, more secure, more affordable and more eco-friendly.

 

RAIDAtech has identified and is making inroads in several key markets with market potential above $1 trillion, including customer engagement, patient medication adherence, secure communications, secure data transmission & storage, white-labeled virtual currencies and anti-counterfeiting.

 

RAIDAtech is the only next-generation technology that is quantum-safe and won't be disrupted by the advent of quantum computers.

 

 

Problem

For over a decade, distributed ledger technology (DLT, also known as blockchain) has promised to provide solutions for every problem from currency inflation to world hunger to global warming.

 

The hype has not been the reality. Blockchain technology has been hampered by the inability to efficiently scale, unreasonable transactional times, and overly complex and dangerous consensus paradigms. Blockchain applications are immensely harmful to the environment, consuming more electricity each day than used by most nations. There has been progress in the application of distributed ledger technology, but improvements have not come close to solving its fundamental weaknesses. DLT has failed to deliver on its promise to become a transformative innovation.

 

Continuous advances in quantum computing, meanwhile, threaten to completely nullify the centerpiece of DLT: asymmetric elliptic curve cryptography.

 

The Quantum Era is near, if not already upon us, as many experts believe. Quantum computers rely on quantum mechanical phenomena like entanglement and superposition to operate on quantum bits of data (qubits). Traditional bits are binary: they are either ones or they are zeros. Qubits, essentially, can be ones, zeros or both at the same time. A quantum computer is able to process data twenty million or more times faster than a traditional one. The simple reality is that by the time DLT/blockchain technology reaches anything near critical mass, it will already be obsolete!

 

The next generation of technology to provide immersive customer engagement, shield data transmission, stop counterfeiting, ensure privacy, safeguard financial security and protect intellectual property will be effective only if it is quantum-safe and provides solutions to blockchain’s problems with scalability, speed, privacy efficiency, governance and ecological harm.

 

RAIDAtech possesses the world’s only quantum-safe technology that solves these problems and more.

 

 

RAIDAtech is actively developing applications using the patented, post-blockchain RAIDA (Redundant Array of Independent Detection Agents) system invented and patented by computer scientist Sean H. Worthington.

 

RAIDAtech challenging existing players in the DLT space with bespoke post-blockchain solutions. It is pioneering applications in a wide-array of industries and verticals, including packaging, communications, finance, healthcare and artificial intelligence. It continues to refine and upgrade the innovative tools and technologies created for RAIDAtech clients.

 

Solution

Achievement & Traction

RAIDAtech has accomplished great things is a very short time and future prospects are very bright.

  • Aug 2018: Company Founded
  • Sept 2018: Signed first long-term client to license RAIDA technology
  • Oct 2019: First revenues from sales of RAIDA Detection Agent licenses
  • Nov 2018: Keynote appearance at anti-counterfeiting event
  • Dec 2018: First profitable month
  • Dec 2018: Completed successful private placement funding round
  • Jan 2019: Completed "minimally viable product" (MVP) for anti-counterfeiting
  • Feb 2019: Keynote appearance at digital currency event
  • April 2019: Reach sales milestone of 50 detection agent licenses
  • May 2019: Signed 2nd long-term client to license RAIDA technology
  • May 2019: Keynote appearance at smart packaging event
Market

The marketplace for just six (among thousands) of potential applications for RAIDA technology is over $1 trillion globally.

 

A small 1% share of that market would equate to $10.12 billion in annual revenues.

 

Competition

RAIDA is a unique and patented technology. Competitors exist in varying degrees within each vertical or industry that RAIDAtech is currently exploring, but none have a comparable technology is terms of scalability, speed, security, quantum-safety or affordability.

 

Moreover, each "competitor" is either a potential partner, client or re-seller who can use RAIDA technology to improve their product or that of their clients.

RAIDA is at least 23,000 times faster than blockchain and will reach 8 million transactions per second (tps).

RAIDA is three-sextillion (3e+21) times more secure than blockchain and simply cannot be hacked or compromised, even by quantum computers.

 

RAIDA is 41,000 times more efficient than blockchain, which means less cost to the user and less damage to the environment.

Unlike blockchain, RAIDA is fully scalable and grows faster and more efficient as the network grows.  Any blockchain will slow down the more users or more data it handles.

Major enterprises are spending millions, sometimes billions to implement blockchain solutions.  RAIDA's simplicity and efficiency makes it far more affordable.

Business Model

RAIDAtech's primary business model is developing enterprise solutions using RAIDA technology and directly licensing RAIDA technology to enterprises (B2B).

 

This typically entails RAIDAtech engineering bespoke solutions to meet the clients needs, but licensing can also be for re-sellers and white labeling.

 

The business model can include development charges, royalties, license fees and transaction fees for use of the existing RAIDA network of primary (Sentinel) nodes and secondary (Detection Agent) nodes. License fees are significantly higher when the client requires any degree of exclusivity. 

 

RAIDAtech can also build a private RAIDA network for clients.

 

Additional revenues are a result of strengthening and building out the existing RAIDA network as each Detection Agent pays a license fee to operate their part (1/800th) of the network.

 

Team

 

 

Members of the RAIDAtech team at an anti-counterfeiting conference

CEO Sean Worthington with Steve Forbes and Kevin Harrington at
a RAIDAtech sponsored event

Use of Funds

 

If Target

Offering Amount

Sold

If Maximum

Amount Sold

Total Proceeds

$35,000

$1,070,000

Less: Offering Expenses

$  3,570

$  89,140

Net Proceeds

$31,430

$980,860

Use of Net Proceeds

 

 

(A)   R&D (25%)

$ 7,857.50

$ 245,215

(B)   Sales and Marketing (40%)

$ 12,572

$ 392,344

(C)   Human Resources/Operation (35%)

$11,000.5

$343,301

Total Use of Net Proceeds

$31,430

$ 980,860

Updates

Ace Fogerson
Ace Fogerson4 months ago

The RAIDA technology recieved a postive mention as a blockchain alternative in Forbes this week from writer Jim Blasingame.

"But don't be surprised if you encounter a Blockchain equivalent like RAIDA (cryptocurrency Cloudcoin), which is cloud-based and not dependent on a distributed ledger network. That's why I often use the term "Blockchain-type" technology. Indeed, our quest for digital trust will be technology agnostic."

The Forbes article his here.

Blasingame also interviewed Sean Worthington for his radio program last December.

 

 

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Q&A


You must be logged in to be able to post a question.

Rosemary Kapitor-Robertson
Rosemary Kapitor-Robertson - Investora month ago
Hello,
I am an International investor from Canada. I invested $2200. I paid the money for a bank draft and sent the $2200 to the bank account specified. They say they only received $2190. So now they want me to spend another $35 for a bank draft to send $10.
What is going to happen next, is the intermediary they did not advise me about going to take another $10 and I'm going to have to continue to send money to clear a $10 error?
They will not accept a credit card.
I'm starting to feel like this has been a very big mistake.

Regards,
Rose Kapitor-Robertson
Ace Fogerson
Ace Fogerson - Issuer    
Hello Rosemary,

Thank you for your support and I do apologize for the confusion. I will also email you directly.

This has been an ongoing situation for investors outside the United States. Funds are sent to an escrow company (not directly to truCrowd nor to RAIDAtech) and in many cases there has been an intermediary bank involved between the investor's bank and the escrow company's bank. That intermediary bank can charge a fee. Unfortunately, there has not been enough transparency from banks on both sides about these intermediary bank fees. Ideally, your bank would have told you there would be an additional fee for the intermediary and, ideally, the communication with transfer instructions you received via the escrow company (it was sent by them on RAIDAtech's behalf) would have also made the process for international transfers more clear and transparent.

a month ago
Maria Gaite
Maria Gaite - Investor2 months ago
HI Ace! I did my due diligence on RAIDATech and CloudCoin. I am really excited for how your company will be a big player in data/service security, specially in the Quantum-age. I read RAIDATech promo of 100 Cloud Coins for every dollar invested. Is this still available (sorry there was no promo end stated in the writeup)?

Thank you! I wish you and RAIDATech success on all your endeavors and future plans.

Sincerely,

Marnie
Ace Fogerson
Ace Fogerson - Issuer    
Hi Marnie,

Thanks for your interest and support.

The premium you mention was an offer from Sean personally from his own resources, not on behalf of the company. Unfortuantely, it was only offered for a short time during the summer (July 31 to Aug 9).

We do beleive investing in RAIDAtech is an outstanding opportunity even after the premium.

2 months ago
Gilbert Labrash
Gilbert Labrash - Investor4 months ago
A Question, please: I sent $200 USD and have a bank receipt stating such. However, TruCrowd sent me E-Mail saying, "Amount Committed: $200.00" but also adding "Amount Received: $180.00". Where did the 'missing' $20 disappear to? Thankyou!
Ace Fogerson
Ace Fogerson - Issuer    
Hi Gilbert,

My apologies for the delay in replying here (I did email you earlier). According to truCrowd, this is a result of fees charged by your bank and/or intermediary bank used by your bank--not anything truCrowd or RAIDAtech did or wanted to happen. In this case, you will be credited with $180 invested (180 units). I apologize for the confusion.

4 months ago
Clayton Timmer
Clayton Timmer - Investor5 months ago
Will RAIDATECH go public? How might trucrowd share translation at ipo?
Clayton Timmer
Clayton Timmer - Investor   
How might shares transition at the IPO?

5 months ago
Ace Fogerson
Ace Fogerson - Issuer    
Hello Clayton,

A public offering could eventually occur, depending on the future needs of the company. RAIDAtech would first need to convert from an LLC to a corporation (or a corporation would need to acquire the LLC), at which time LLC units would be converted to shares of the corporation. This presumably would have a positive financial benefit to the LLC unit holders (otherwise it would not occur).

5 months ago
Marie Stranks
Marie Stranks - Issuer 5 months ago
I am a private investor, please contact me if you need personal financing or for a project. Here is my email: stranksmarie@gmail.com
Ace Fogerson
Ace Fogerson - Issuer    
Thank you, Marie, we will reach out today.

5 months ago
Alan Silverman
Alan Silverman - Investor5 months ago
How does Cloudcoin fit in with this project, I see it is not mentioned in the write-up.
Ace Fogerson
Ace Fogerson - Issuer    
Hi Alan,

CloudCoin remains the native currency of the RAIDA network and we expect that a majority of RAIDAtech applications will use CloudCoin as the default authentication token (depending on the wants/needs of the client). This creates greater utility and greater demand for CloudCoin overall.

5 months ago

Documents

Business Plan Development View Download
Form C View Download
Offering Statement View Download
Valuation View Download
Form C/A View Download

Other Disclosures

Read the Form C filed with the SEC for other important disclosures, like financial statements, Directors, Officers, shareholders with more than 20% of voting rights, and more.
Irregular Use of Proceeds
The Company may make Irregular Use of Proceeds. Such Irregular Use of Proceeds, which may be in material amounts in excess of $10,000, may include by way of example and not limitation: Vendor payments and salary made to management, business associates, relatives, related parties and/or affiliates thereof; expenses labeled "Administration Expenses" that are not strictly for administrative purposes; expenses labeled "Travel and Entertainment"; and expenses that are for the purposes of intercompany debt or back payments.

Without limiting the above, the Company may elect to vary from the proposed use of funds as circumstances or assessments of circumstances following the closing change.
Special Note Regarding Forward-Looking Statements
This offering contains forward-looking statements within the meaning of the federal securities laws. We caution investors that any forward-looking statements presented in this offering, or which management may make orally or in writing from time to time, are based on the Company’s beliefs and assumptions made by, and information currently available to, the Company. When used, the words “anticipate,” “believe,” “expect,” “intend,” “may,” “might,” “plan,” “estimate,” “project,” “should,” “will,” “would,” “result” and similar expressions, which do not relate solely to historical matters, are intended to identify forward-looking statements. Such statements are subject to risks, uncertainties and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties and factors that are beyond the Company’s control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. While forward-looking statements reflect the Company’s good faith belief when made, they are not guarantees of future performance. The Company expressly disclaims any responsibility to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Moreover, we operate in a very competitive and rapidly changing environment, and new risks emerge from time to time. It is not possible to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this offering may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We undertake no obligation to revise or publically release the results of any revision to these forward-looking statements, except as required by law. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements.
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