What is Cosmochain?
Cosmochain is a blockchain dApp project operated by “Huiseoul HK Limited”, a foundation based in Hong Kong. Cosmochain develops and operates multiple beauty and lifestyle services that utilize CosmoCoin (COSM) and constitute Cosmochain ecosystem.
The project initiated in March 2018 with ICO, and has become a fast-growing Korean project through partnerships with global companies such as Samsung and Kakao Ground X.
1. Pilot Service, “COSMEE” (August 2018 ~ November 2018)
- 50,000 accumulated users
- Ranked 7th within Beauty category of Google Play Store (Korea)
- DApp with the most blockchain transactions in Korea (40,000+ block activities per day)
- Selected as Samsung Blockchain Wallet’s first dApp service partner
COSMEE is a beauty review community with fair rewards. It takes the form of social media, in which users share their beauty experiences by 1) uploading content, 2) writing comments, and 3) clicking likes, in return for token rewards.
2. Service Preparation (December 2018 ~ May 2019)
On December 26th, 2018, Cosmochain built Beauty Data Consortium with a global beauty company, and since then continued a prolonged discussion regarding usage of beauty data within this industry.
- Methods to obtain insightful data
- Types of data necessary to increase revenue
- Functions in the main service which can optimize data collection
The above three issues were at the core of discussion, and have become the essential concepts for shaping and developing our main service.
3. Main Service “FitsMe” (May 2019 ~ Present)
- Recommendation service utilizing purchase data and preference data
- Launched Android app in May and iOS app in June
- Main service FitsMe is a recommendation service, which helps users identify cosmetic products of their needs using individual purchase and preference data.
Using agile method, Cosmochain quickly developed its service upon results of 8 different services tested among core target users — females in their 20’s and 30’s. At the time of release, FitsMe ranked 6th as popular beauty app, and 1st as trending beauty app within Korean Google Play Store.
Cosmochain has also completed designing the ‘FitsMe Marketing Project,’ which is an early step in the token model integration. Currently, Cosmochain is testing the token flow on the Klaytn Testnet.
FitsMe’s goals for second half of 2019 are the expansion of user base and integration of token model. Within second half this year, FitsMe aims to become one of the TOP3 services within beauty category with MAU of over 300,000. Ultimately, Cosmochain aims to expand beyond simple cosmetic recommendation service to a high-quality integrated beauty service platform.
▶ GROUND X
On August 30th, 2018, Cosmochain became the first Initial Service Partner for Ground X, Kakao’s blockchain subsidiary.
** Kakao is a Korean Internet giant, with an asset of 10.6 trillion KRW (9 billion USD). Kakao also owns more than 30 services, including “KakaoTalk” — a messenger service with 200 million users worldwide, “Daum” — the second-ever internet portal service in Korea, and “Kakao T” — a Korean equivalent of Uber.
Ground X will be launching their mainnet Klaytn on June 27th, 2019.
Cosmochain’s pilot service “COSMEE” has been selected as Samsung Galaxy S10’s one of the four initial dApp partners. Utilizing Galaxy Keystore function, COSM can be conveniently transferred and deposited.
▶ ICON (ICX)
ICON is a blockchain project that represents Korea. It desires decentralized network, and supports mutual connection between various infrastructure. ICON, which utilizes Loopchain platform, develops business models and services through partnerships with global companies, as well as accelerates various dApp projects. ICON signed dApp partnership with Cosmochain in May 2018, and is in active technical discussions.
Cosmochain secured investments from various institutions including venture capital firm, crypto fund, start-up accelerator, global hedge fund and more.
Most notably, Cosmochain was Kakao Investment’s first investment in blockchain industry. Upon launching of the official service, Cosmochain additionally attracted $2.5M investment from global hedge fund, Ulysses Capital.
However, as Cosmochain is in the process of migrating to Klaytn Mainnet, there are two different types of exchanges, one supporting KCT-based COSM (Upbit/Coinone/Bittrex) and the other supporting ERC20 COSM (Bitberry/GDAC/Coinzest/CoinAll).
Cosmochain is planning to list on additional exchanges to provide global liquidity, and prepare for global service launch.
Cosmochain is a blockchain project based on beauty data, founded in March of 2018. We aim to contribute to the development of beauty ecosystem by systematically managing data incurred within beauty industry, and data to those in demand through our platform,
On June 2019, Cosmochain launched its main service “FitsMe” based on the 1.5 million data points incurred through its pilot service. So far, FitsMe is performing well, ranking 6th within Beauty Category of Google Play Store, with an MAU of 20,000 people.
Cosmochain Official Channels
● Cosmochain Web: https://cosmochain.io/
● Telegram(Announce): https://t.me/cosmochainannouncement
● Telegram (KOR): https://t.me/cosmochain_english
● Telegram (ENG) : https://t.me/cosmochain_global
● KakaoTalk(KR): https://open.kakao.com/o/gAMfQpU
● Medium : https://medium.com/Cosmochain
● Twitter: https://twitter.com/cosmochain