Patron is a company from Japan working on a very interesting and promising cryptocurrency project.
Patron has great plans in the area of social media. It wants to use the current state-of-the art blockchain technologies to bring together marketing brands and important social media figures.
PATRON will run its trustful platform on both mobile devices and on the web.
Influencers and Brands
Influencers in the social media space, with their strong and noticeable position, have great power when it comes to shaping public opinion. And we know today that a number prominent social media figures have already established strong collaboration with some of the most popular brands. Influencers are able to provide marketing brands with exposure and strong marketing influence.
And using influencers to promote brands is quite normal, and related to the problem of trust. Would you rather trust a real person, someone you have established a social interaction with, or standard advertising forms?
So the first goal of Patron is to bring influencers and brands together.
The Blockchain Technology
Blockchain technology by definition means trustless setup. The mechanism of blockchain means that there’s no need of a third party to guarantees that the contracts will be realized.
So now, it is possible to build trust purely based on past history of the participants in the transactions.
PATRON will use this technology to produce new smart contract mechanisms on their platform for the benefit of all parties involved in the process.
The ICO Details of Patron
In order to bring down the marketing fees, which according to some estimates are a whooping 40%, this project will use smart contracts, like the ones that can be implemented on the Ethereum blockchain.
Using smart contracts has the obvious advantage of avoiding all brokerage fees.
Here are some characteristic of this cryptocurrency:
- PATRON will produce ERC20 tokens (the ones that run on the Ethereum network), a total supply of which will be 400 million.
- The initial supply will be 240 million coins.
- The symbol of this cryptocurrency will be PAT
People Behind Patron?
The CEO, Atsushi Hisatumi, is the leader of the project. Mutsumi Ishihara is the patron Co-Founder／CTO.
You can check the entire Patron team on their website. Even more information is given in the whitepaper, so I suggest to click on the link at the end of this article and read the details of the members of the Patron team.
After all, the success of a crypto-currency project is largely determined by the skill set of the developers team.
The Bottom Line
Patron is a promising project with a very interesting premise, to connect brands with influencers in the media space. If Patron succeeds in its intentions, it could change the way we do online marketing today.
The Patron team looks strong and competent with, backed by some powerful companies.
It remains to be seen how exactly Patron implements this excellent idea. Pretty soon we could see an implementation of Blockchain technology, in the marketing industry, where people can upvote, share, discover, buy, or sell influencer data.
Useful Links
Website: patron-ico.io
Whitepaper: patron-wp-en-01.pdf
