SOMA as a centralized social network based on blockchain

Since the beginning of history, commerce has become a social phenomenon. Historically, people have gathered in markets and markets to exchange jokes and exchange of goods imported from different parts of the world. Today the situation has changed in an extraordinary way. Most of the C2C business is done on the Internet platform, such as eBay, which offers users a “one-stop-shop” platform for a list of items to be exchanged and exchanged. However, contemporary platforms have deviated from a historical perspective of commerce because people are usually hidden behind anonymous usernames. Thus, the platform currently only provides forums for trading without any features that will facilitate social interaction. The lack of social interaction between users eliminates important elements, which have become an integral part of trade and commerce since the beginning of economic activity between humans. This does not reflect current market trends and, based on our research, there is a strong demand for platforms that will unify trade and social interaction among users.

Understanding of SOMA?

Soma is the first market in the world to reward its users for facilitating the exchange process. By encouraging users to engage in such actions, Soma will provide recycling facilities and move the shared economy to the next level. One of its fundamental values ​​is a clean environment and we believe it is very important to change our consumption habits in the Western world by allocating unused resources more efficiently.

The basic unit of accounts on the Soma platform is SCT, a crypto designed to be used as compensation for users engaged in actions that benefit users and society as a whole. We believe that cryptocurrency, like SCT, can be integrated effectively by providing functional and user-friendly platforms with the opportunity to increase one’s wealth by contributing to the social capital of society.

Vision

To utilize the Ethereum open-source blockchain-based platform and its smart contract functionality to implement a patent-pending interactive item card, secure payments and Soma social rewarding system.

Mission

To become the largest Internet marketplace where decentralized platform benefits are used effectively, expand the scope of use cases for FFB.

Interactive Item Card

  • The concept of Interactive Item Card (Patent-Pending).

One of the principal innovations in Soma is the Interactive Item Card (IIC), which allows users to increase the value of their published IIC’s by gaining social acceptance for them inside the platform. Through the social interactions known from the traditional social media platforms such as likes and followings, the “social value” of the IIC is increased. Thus, users are incentivized to create high-quality content on the platform as they get rewarded for doing so.

IIC contains information inserted by the users in a chronological chain about the particular physical item, such as ownership data and the condition rating. IIC transforms information of the item on a transaction-by-transaction basis. IIC will facilitate the information flow between the users, promote transparency and increase the overall trust of the community.

Soma utilizes the Ethereum blockchain and smart contract system in the item card verification to safeguard that the item card cannot be duplicated and the information is transferred securely. Interactive Item Card is a patent-pending innovation. Patent attorneys and the relevant authorities have conducted a thorough preliminary research and found nothing which could prevent the patent application to succeed.

  • Promotion of The Interactive Item Cards

Users may earn SCT by promoting Interactive Item Cards. For example, if a user believes their following audience would likely to be interested in a particular item, it may choose to promote the item card published by some other user. In exchange for promotion, the original publisher of the IIC may reward the promoter with SCT in return for such service.

Promotion can be done internally within the community, for example in groups which fits well for a promotion of that particular IIC. Alternatively, IIC can be shared outside the platform, for example on Facebook, Twitter or Instagram.

Reselling Items

Sellers may leverage IIC feature to offer resellers the chance to sell their items for a commission. This allows drop-shipping of goods and services while offering provable sales through the decentralized marketplace. The seller who created the IIC controls it and can add a discount level on a per entry basis for each reseller.

Reselling feature is specifically designed for users who want to utilize the power of the community to maximize their sales. For example, it is a very feasible feature for persons who are selling their artworks, such as handcrafts or art, as well as for companies that want to create an efficient sales network in a decentralized community.

Rewarding System

Soma utilizes the Ethereum blockchain to create a comprehensive trading platform that leverages social capital and creates a community that aids social interaction between users. In the Soma, the contribution to the social capital in terms of value
creation is materialized through User Rewarding System (URS).

URS is based on Soma Community Token (SCT), which is an ERC20 Token that is allocated inside the platform in relation to a user’s contribution individually, thus making Soma a ”perfect meritocracy” — a model which excludes the need for third
parties and provides the most efficient distribution of wealth.

The rewarding system in Soma is by nature two-fold. First, it must be recognized that every time user adds value to the community it should be rewarded for its actions. Second, the compensation must be attributed in the proportion of the value created.

In Soma, this becomes reality by providing an environment that enables the exchange of social capital to SCT in the course of a bargaining at the free markets. Thus, Soma provides the ability and incentive for its users to engage in such conduct and the market mechanism ensures perfect pricing in the community. SCT will be designed to satisfy both of these underlying ”Community Principles”.

ICO SPECS

Soma Community Tokens will have a maximum of 60,000,000 units. Total supply of 60,000,000 SCT is created for the ICO, out of which 54,000,000 are distributed for the contributors in the ICO.

The last 6,000,000 SCT units will be used for growth, such as marketing, rewarding active community members, and incentivize the founding team. Funds are managed by Soma.

As for the ICO round — the funds will be utilized as follows:

  • 35% Marketing and area launches.
  • 20% Product development and technology.
  • 20% Legal issues and patents.
  • 15% Operational team.
  • 10% Community reward (We’ll reward the ambassadors and marketers of the community).

Soma Roadmap :

Core Team :

Jukka has an extensive career in the startup companies and a proven track record in expanding a company from a scratch to a viable business. Jukka’s background includes negotiating with the angel investors and VC’s, expanding businesses to foreign markets and consulting companies in their early stage in various matters. Jukka holds an LL.M from Queen Mary University of London.

Joseph has a long background in sales and marketing in SME’s and large corporations. Joseph has shown to be capable of executing complicated business plans and bring them into a reality in a timely manner. Joseph is also an investor in crypto currencies and his passion over them has led him to a position of being a recognised consultant for companies operating in the fin-tech industry.

Sami has a background in financial services and has been consulting numerous start-ups in their early stages. The experience he has gathered during his career is invaluable for a start-ups and SME’s to raise capital. Sami has helped dozens of companies to successfully close their funding rounds with the targeted valuation.

Sylwia is a project manager and advisor at Soma product development. She is an experienced Scrum Master and a Senior Software Engineer. She has long experience of development team and project management. Her goal is to build an excellent and globally recognized Soma software product.

Tomasz is a business-oriented software consultant and Java programmer. He is specialized in backend development and microservices architecture. Tomasz is also a Senior Developer of our blockchain solution.

Anna is a Senior Developer specialized in backend and databases. Her interests include software architecture and object-oriented design. Anna is focused on solution design.

Tomasz is an IT architect and DevOps engineer with over 15 years of commercial experience in IT, including nearly 10 years with scaling large applications for some of the biggest e-commerce sites in Europe. He is our security specialist, who takes care that Soma platform has well-designed security and maintenance functions.

Johannes as Digital designer who specialises in front-end technologies and UI design. Johannes has worked on multiple web and mobile app projects as well as on more traditional websites and advertisement.

John Salinero as Creative designer who specialises in branded interactions and concept design. He has a background in illustration and advertisement and now focuses on digital design development.

Advisory Boards :

Ville has background in legal services and has consulted start-ups and SME’s in their legal needs from the beginning of the company’s lifecycle to help them successfully close crucial funding rounds. Ville is enthusiastic about innovative funding opportunities for companies which has initially drawn him towards crowdfunding and eventually to crypto currencies and ICO’s.

Arto Joensuu is our business development advisor. He is a digital change agent with over 15 years of professional experience across startups as well as large multinational corporations. He has extensive industry experience from gaming, telecommunications, classifieds as well as mobile services industries. Throughout his career, he has held several leadership positions, ranging from spearheading the company wide digital strategy and execution at Nokia to leading a 200+ multi-cultural staff as CEO of dubizzle.com. He has a BBA in international business from Helia as well as an executive education from Insead and Harvard Business School.

Marcin is our Blockchain advisor. He is a Blockchain Software Development Consultant of Bitcoin and Ethereum solutions. He has a strong technical background as Software Senior Architect, Team Leader, Project Manager and IT Director in many industries, but mainly: payments processing, finance, and banking, telco, pharmacy and mobile technology startups.

Aki is our business development advisor. He has a strong experience of enterprise class solutions design, go-to-market and sales. He has over 25 years of experience in different sales, management and business development positions at larger enterprises like IBM and Dell as well as at start-ups and software houses. He uses his skills to advise us with our company growth.

Dominik is our payment solutions advisor. He has a strong background of mobile and web based payment systems as well as project management and product development life cycle. He combines the practical IT knowledge with a solid academic background. Dominik has been working in IT industry for over 14 years. His professional experience includes involvement in large scale international R&D projects in various roles — developer, researcher and project manager.

For more information, please visit our website as follows:

Posted by jhonnydeep87

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