SOMA’s partnerships

SOMA
3 min readMay 20, 2018

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Along with all the other exciting things happening for the SOMA project, three partnerships have us pretty stoked.

UTRUST

“SOMA is proud to announce a partnership with UTRUST,” stated co-founder Joseph al Sharif, “UTRUST is a revolutionary payment platform that empowers buyers to pay with cryptocurrencies while providing a groundbreaking purchase protection mechanism. SOMA and UTRUST will both benefit by this fruitful partnership and we are excited to begin this collaboration as a long-term union between two innovative concepts.”

SOMA will benefit from UTRUST’s decreased transaction costs. Shared knowledge between the two teams will allow greater agility for both projects amid a rapidly-changing landscape. UTRUST stands to benefit from a major pipeline for business from SOMA.

“Diversification” is an overused buzzword. UTRUST and SOMA, however, take a jointly-commonsense approach to the concept. Spreading risk over multiple channels of business will make the partnership more durable. Together, SOMA and UTRUST hope not only to improve the experience of consumers via payment protection and decreased fees, but also grow the communities of both platforms.

Credits

CREDITS is an open blockchain platform with autonomous smart contracts and an internal cryptocurrency. The platform is designed to create services for blockchain systems using self-executing smart contracts and a public data registry.

The platform can execute more than 1,000,000 transactions per second and has an execution speed of 0.01 seconds. Because transaction fees are minimal, high-volume applications are possible in a way that no known extant blockchain can match.

But what about Ethereum?
We will develope our project on the Ethereum blockchain, but are actively planning for contingencies. Credits could be used for scalability in the event Ethereum proves insufficient to our needs. Our tech team is currently exploring this possibility, and SOMA will make a future announcement on the matter.

Ethos

One wallet to rule them all.
Store all of your tokens, coins and digital assets safely and securely on your mobile device. Track assets you have stored somewhere else — such as on a hardware wallet or an exchange. Ethos Universal Wallet gives you a complete view of your entire portfolio in one place, with rich analytics to show how you’re doing.

New wallets are much better when they come with free coins! Ethos has a growing list of partners —SOMA among them — who are lining up to airdrop tokens to the first Ethos Universal Wallet users to celebrate its release.

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SOMA

Soma is a decentralized social marketplace & tokenization protocol for authenticating and tracking items on the #blockchain. #luxurywatches #provenance #luxury