A firm based in Boise, Idaho is set to launch a crowdfunding effort to form a “digital ammunition” exchange that will supposedly give some 94 million gun owners the opportunity to combine physical ammo ownership with “online digital management.”
The company, AmmoSquared Inc., notes that by starting off in the digital world, ammo becomes much easier and convenient to buy, store, exchange, manage and, at some point, possess physically.
“Our vision of the future is that every gun owner in America will soon have two forms of ammunition: physical, that they store in their house and take to the range, and digital, which is accumulating in the background, easily exchangeable, and deliverable on demand,” said Dan Morton, AmmoSquared’s CEO.
NewsTarget.com publisher Mike Adams disagrees. "This is perhaps the dumbest idea in the history of preparedness," he argues. "When it comes to firearms, ammunition and other preps, if you can't touch it, you don't own it. What good is digital ammo in a grid down collapse?"
The existing business model was launched in 2015, and company officials say the firm already offers a unique ammo subscription service that aims to assist customers with remaining fully stocked on ammunition, at least in the digital realm.
However, Morton says that is just the first phase of AmmoSquared’s long-term vision.
“Currently customers can purchase ammunition in small amounts via a reoccurring subscription,” Morton noted further. “It doesn’t matter whether they are buying one box or one round at a time, it all goes into their digital inventory and accumulates until the customer is ready for delivery. This subscription-based model is just the first phase of our vision.”
AmmoSquared is looking at the future of ammunition and has recently begun raising capital to build a next-generation digital ammunition exchange.
“Our ultimate goal is to build a true ‘Digital Ammunition Exchange’ where individuals can purchase, store, exchange, and sell ammunition with just a few clicks online,” said Chris Corriveau, CTO of AmmoSquared.
“This way, every gun owner has a backup supply of ammunition in a ‘digital’ format that is easily exchangeable and available whenever they need it. Ammunition holders will also be able to trade into, or out of, different calibers in order to take advantage of price changes in the ammunition market,” he continued. (Related: Documents related to Obama-era “Operation Choke Point” show government was extorting lawful businesses like mafia mobsters.)
This is kind of like making deposits and withdrawals from a bank but…
In order to raise the money necessary to take AmmoSquared to the next level, the firm is issuing Series Seed Preferred Shares to both accredited and non-accredited investors through the equity crowdfunding portal Wefunder, Ammoland reported.
“We wanted to give everyone an opportunity to join us and invest in the future of ammunition. Most folks are not accredited investors so it was important to choose an equity crowdfunding platform where anyone with as little as $100 could become a shareholder in AmmoSquared,” said Morton. “There are also great gun related perks available for those who can invest $500 or more.”
But will this scheme work? What will it be like to own ‘virtual ammunition?’
On the surface, AmmoSquared’s exchange seems similar to that of a bank: You deposit funds, often electronically, and you withdraw them much in the same way. When there is ‘money’ in your account, it’s not really in the form of physical dollars and cents; it’s in the form of a number, an amount that customers ‘build up’ through various deposit vehicles (direct deposit of pay, physically depositing cash, etc.).
When a customer wants to go to their bank to withdraw physical money, they can as long as they have that amount in their account. The money turned over to the customer isn’t the same physical funds they deposited.
But ammunition is different. Who will ship the ammo when a customer wants to make a withdrawal? Where will it come from — a central storage depot? And what if the central storage depot can’t get enough ammo to satisfy demand?
"There's nothing wrong with buying ammo the normal way in the real world," adds Adams. "You buy it, you put it in an ammo can, you own it, you can touch it, you can use it at any time. It's real."
Also, what’s to stop this new exchange from being hacked and all ‘accounts’ wiped clean?
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