“Heaven or Pit? What is GoWithMi?
What assets can run on blockchain? This is probably a question every blockchain enthusiast is anxious about day and night. GoWithMi, a project recently unveiled on the gate-io platform, has a surprising answer for everyone.
GoWithMi also serves as one who has the most potential in resource database of pomegranate finance and economics long-term tracking research.
On the eve of its launch, an article delved into some of GoWithMi’s biggest pitfalls. Does the article pose some key points? Pomegranate finance spoke with Simon, CTO of GoWithMi.
The following is the content of the interview:
Yesterday I saw an article of WeChat from an unknown source, which seemed to be the “professional work” of non-professionals. It was full of numerous data errors, which I will not point out here. As an industry veteran, I just want to explore some fundamental issues.
Problem 01
Is digital map just a navigation software?
First of all, let me add some value to the author’s opinion. Digital map is not only a navigation software, digital map is an industry category, and navigation software is just one of the manifestations of terminal products in the digital map industry. This is understandable, since most people are exposed to maps and navigation on their phones. In fact, the biggest value of digital map is the platform value of toB and toG (Government), which provides spatial location data and location service computing support for Meituan, didi, ctrip, taobao and other Internet services, as well as governments and enterprises. According to incomplete statistics, 62% of the global Internet data have geographic data attributes, so the map is one of the most important infrastructures of the Internet. This also explains why Internet giants are desperate to develop their own free map products for c-end users, thus forming a closed loop in their own ecology. In this sense, the map is the “chip” of Internet services. After all, it is too painful for one’s own industry to be strangled.
Problem 02
The Map Market has been monopolized by the giants. Is there any chance for GoWithMi?
The author thinks that the map market has been monopolized by giants and there is no chance. If we follow this logic, all public chains in the market should have no investment value. After all, compared with the open source blockchain technology, shouldn’t Internet giants have a crushing advantage? Is it right that Facebook has entered the game, and stable COINS have been issued, and all public chains should be instantly zeroed? To take another example that has happened around us, toutiao is a new giant with a higher market value than baidu, relying on the recommendation algorithm technology far inferior to baidu in the information flow advertising field, which is considered to have no commercial value. It is a typical curve overtaking. Therefore, in my opinion, there are two kinds of evidences for judging “whether innovation can succeed”.
First, can innovators do it?
Let’s start with the first category: how to judge whether an innovator can do the job, mainly from three aspects: does the innovation solve the pain points of the industry? Can it be more than 10 times better than traditional methods (e.g., 90% cost reduction)? Was the timing right?
As for what kind of industry’s pain are we pointing to solve, GoWithMi has always emphasized that the ultimate industry pain point it solves is to enable downstream enterprises and individuals to use the map service safely. This “security”, not only refers to personal privacy and data protection, but also to the security of map services that b-terminal users do not have to worry about being stopped at will by the giant (like suddenly stopping the supply of chip), and enjoy free access to map services. As noted above, the giants can afford to give away free maps to individuals so that they don’t have to depend on others. What about downstream businesses? The answer is to take sides. This is why the domestic to the Internet in the second half, even Meituan, drops the star enterprise is still unable to get rid of reform, such as Meituan use accept tencent (tencent map investment), they did so not to mention the countless small developers and service providers, this is all based on digital map the huge pain points of the industry, it is a center of traditional map platform cannot solve fundamental challenge. The greatest value of distributed maps is to create a completely decentralized map platform with no central control and no coercion for mutual benefit, which is fair for all to use. This is also the core reason why a small Singapore startup team at GoWithMi dares to challenge the big MAC.
On whether it can be more than 10 times better than the traditional approach, GoWithMi is targeting the cost pain point. As we all know, the biggest cost of traditional mapmakers is the huge cost of internal and external business; you can see the new four-dimensional map announcement. Clearly, mobile user crowdsourcing can significantly reduce costs. Based on GoWithMi’s experience in Indonesia, consensus crowdsourcing can reduce costs by at least 90% compared with traditional methods.
As far as timing is concerned, entrepreneurship is about doing the right thing at the right time. It’s never too late or too early. We think it’s the right time to do a distributed map of global emerging markets. At present, emerging markets represented by Southeast Asia and South Asia are in a period of soaring dividends and extremely low user acquisition costs. Crucially, there are no big local infrastructure providers, only global giants. The giants, though big, are light operators, with limited capacity to localise and limited exposure to emerging markets. The core team of GoWithMi is China’s technology team, which is an entrepreneur who had experienced the brutal battle of China’s Internet. Therefore, it is quite possible for GoWithMi to win the local market with a slightly heavier local operation. In fact, GoWithMi is proud to have a strong team with long local roots, closer to local users and able to quickly meet their needs. In addition, GoWithMi also has the full support of strong local strategic partners, which is a great opportunity for the development of “One Belt And One Road”. Arguably, GoWithMi is doing the right thing at the right time.
Second, is GoWithMi’s innovation recognized by the industry’s top experts?
Judging innovation is too difficult for ordinary people. Here I’d like to borrow Luo Zhenyu said: whether it is feasible to judge an industry innovation direction, two kinds of people are unreliable, one kind is ordinary users one kind is the investor, after all, the lack of professional point of view, they are all make a judgment according to past experience, but to see the vested interests of the industry, is the industry’s top people’s point of view, after all, they always in this industry, the more accurate judgment about the future.
GoWithMi appears to be very lucky (in fact, behind the luck is strength) with the investment and support of almost all the top people in the map industry, including Dr. Tao chuang, Dr. Sun yuguo, the new founder of 4d, and Mr. Cheng congwu, the founder of gaode. Dr. Tao chuang is better known as the CEO of PPTV. In fact, he is the world’s top map industry god, the founder of Microsoft BingMap, and the chief expert of the United Nations (http://uee.me/aV2Vf).
Dr. Sun Yuguo even personally awarded GoWithMi the first place in the most valuable investment in Dixin Industry in 2019.
Problem 3
How to ensure the accuracy and precision of map data collection by mobile phone?
The question about crowdsourcing precision is a very good one. Completely on the user mobile collection accuracy isn’t enough, GoWithMi by AI technology based on satellite image map based automation, including road network, building outline, terrain, water system and so on, at least can achieve the precision level meters (DCM), which is why GoWithMi dare say global replication can be quickly done, GoWithMi can batch production has its own intellectual property rights of the cold start base map data. However, other data, including POI, road restrictions, real-time road conditions, building appearance, building height, indoor map and location data, must be collected by users. In fact, these parts of the existing map is the highest cost of expenditure. GoWithMi can greatly reduce the cost through Token driver, but the cost reduction cannot be at the cost of quality. GoWithMi verifies the data accuracy through symmetric game +AI through multiple parties.
Problem 4
Ecological valuation of $100 billion in 3 years?
Can it compete with established rivals like GoJek?
The author also raises questions about DAU and valuation. First of all, there is a cognitive premise. Blockchain belongs to a typical ecological industry. GoWithMi is a public chain project with a vertical scenario, and the whole vertical public chain supports the ecological prosperity of 100 billion us dollars. GoWithMi aims to create a decentralized ecosystem of location big data + location services + distributed business. In particular, GoWithMi is not to make take-out and shared trips by itself, but to provide decentralized platform support for ecological participants through distributed map, enabling service providers to step into distributed business and completely get rid of exploitation of central platform. Therefore, the DAU mentioned by GoWithMi and its valuation are estimated according to the whole ecology, that is, its DAU includes not only the DAU of the main dAPP of GoWithMi’s crowd-sourced map, but also the DAU of thousands to hundreds of thousands of apps and dAPP products developed for developers and partners. Its ecological scope includes not only the existing traditional map market (Internet of vehicles, high-precision map, business API, business site selection, spatial intelligent mining, vertical industry, etc.), but also the incremental innovation market (distributed O2O sharing economy, etc.).
Four major issues, will GoWithMi distributed map we are most concerned about the issue clear. I’m sure you already know that. The game between blockchain distributed map projects can be said to be a zero-sum game. Whoever can develop fast and well in the future can occupy the market to the greatest extent. GoWithMi is still in the early stage of entrepreneurship. During the interview, I can feel the dedication and professionalism of the whole team, as well as the firm belief in the future of blockchain. Pomegranate finance is willing to believe that such a team can go further. GoWithMi is expected in the future.
