Announcing the first 4 Simple Token Member Companies: XAIN, InterviewBit, Digital Knights, and Pepo.
As we get ready to launch Simple Token on 14 November, 2017 we’ve been pursuing two main parallel tracks:
- Readying the Simple Token technology.
- Developing a pipeline of Member Companies to launch Branded Tokens powered by Simple Token.
Over the weekend we open-sourced the OpenST protocol on Github.
The business and technical challenge our team set out to solve with Simple Token is to enable mainstream applications to benefit from deploying their own branded crypto-backed token economies, in a scalable and cryptographically-auditable manner, without needing to mint and maintain their own publicly-tradable crypto tokens.
This project idea was born in 2016 when we first attempted to develop a token economy for the consumer-app, Pepo. To our realization, rather than building tokenization technology for one app, the much more important, interesting, and worthy challenge was to build the enabling technology for any app to tokenize and benefit from having parts of their business on a blockchain.
We want to enable any business to launch their own branded crypto-based economy without the legal, regulatory, and technology headaches involved with going alone. This could enable them to monetize user contributions and content, power peer-to-peer transaction, provide meaningful incentives and rewards, develop transparent loyalty programs, and unleash thousands of new monetization and supply & demand possibilities.
Simple Token “ST” is a utility token for mainstream business tokenization
This means ST works to produce value for a marketplace. It enables any company to create, launch, and manage their own branded digital token economy, powered by Simple Token protocols and software.
The OpenST protocol, live and available today, enables companies to stake Simple Tokens against their own Branded Tokens, minted on open scaleable side blockchains. The Simple Token SaaS platform, under development, gives companies the tools to manage, customize, monitor, and analyze their token economy.
Creating the ST Ecosystem
We are currently discussing use cases with dozens of companies who want to tokenize existing platforms and apps across gaming, loyalty, marketing, user-content & social apps, logistics, payments, and many more categories. We are also in discussion with some very interesting decentralized application concepts from teams who area already proficient on blockchain technology but who want to develop somewhere more scalable than public ethereum, and as part of an ecosystem that will contribute to a robust B2B and B2C friendly software stack, developer tools and network of end users.
Our aim is to initially seed the ecosystem with a diverse group of Member Company use cases and to get branded tokenization into the hands of end users — ultimately the ecosystem will build itself from this foundation.
What do we look for in early Member Companies?
- Marketplaces that want to incentivize users to do things and make high value contributions to the network and community, be it with content, reviews, feedback, data, privacy — anything of value to the particular community or network.
- Cases where a single view of the truth is important, typical to cross-border and inter-company processes.
- Rewards that are not mere kickback points, but that rather become more valuable the more they are earned and circulated.
- Micro-payments of crypto tokens for useful work.
We are also asking early Member Companies to play an active role in development of the Simple Token project and ecosystem — to help us shape and form the initial tokenization product roadmaps, help us build the structures and processes to support tokenization at scale, and to make the resulting network more valuable for all participants.
Meet the First Simple Token Member Companies: Xain, InterviewBit, and Digital Knights
XAIN is a London and Berlin based blockchain + AI startup, already delivering automotive, IoT and supply chain projects for Daimler, Porsche and Deutsche Telekom as well as a number of deep research collaborations with Oxford, Imperial college and Hasso Plattner Institute.
XAIN builds industrial applications using Artificial Intelligence (AI) optimization to secure, stabilize and scale distributed ledger networks and in turn using the blockchain verified data to develop AI and machine learning products. This is achieved by — what XAIN calls blockchain intelligence — combining data analytics algorithms with a novel mining process to gain a secured consensus, while computing real-time analysis in distributed smart contracts.
They are a 2014 Oxford university research project spin-off and have bootstrapped and grown a team of 23 across their London and Berlin HQ offices delivering automotive, IoT and supply chain projects for large vehicle manufacturers incl Porsche and the tech boost program of Deutsche Telekom as well as a number of deep research collaborations with Oxford, Imperial college and Hasso Plattner Institute. In addition to their automotive project work stream, they will be using their technology to deploy a healthcare network and want to tokenize a number of different decentralized applications involving patient records, preventative healthcare and clinical trials.
In addition to their automotive project work stream, they will be using their technology to deploy a healthcare network and they want to tokenize a number of different decentralized applications involving patient records, preventative healthcare and clinical trials with Simple Token.
By partnering with Simple Token we are able to further explore the tokenization of business processes and consumer applications for the automotive and supply chain sector, while in the near term specifically focusing on potentially tokenizing a medical blockchain network to run on top of the OpenST protocol.” — Dr Leif-Nissen Lundbaek, CEO, https://Xain.io
InterviewBit joins Simple Token to explore several opportunities to launch a branded token for InterviewBit’s existing recruiting business and application. InterviewBit is a SaaS e-learning and job-discovery platform, that has prepared over 250,000 software engineers and placed them in top tech companies across the globe including Amazon, Uber, Facebook, Flipkart and others.
In addition to tokenizing their app and business, InterviewBit is excited to explore enabling other companies in the Simple Token ecosystem (and their members) to benefit from InterviewBit services.
We are excited to partner with Simple Token to explore tokenization of our e-learning and job-discovery platform and seek out ways to improve the service. Our e-learning assessments and recruitment services will be available to ST and the ecosystem of member companies and we will build up more curriculum to help companies tokenize” — Abhimanyu Saxena and Anshuman Singh, co-founders, https://interviewbit.com
Digital Knights provides technical due diligence on software development teams to enable executives at leading companies to engage in successful and rewarding partnerships. The Digital Knights network of approved tech teams helps major corporations and startups accelerate their innovation agendas. Digital Knights’ teams are trusted by businesses such as BMW, Vodafone, Skyscanner, and Transferwise. Projects born out of the Digital Knights network cover the full scope of digital innovation and emerging tech, including AI, IoT, cloud computing, Blockchain, Cybersecurity, location technologies, data analytics, and advanced algorithms.
Digital Knights hopes to build a token economy to enable companies to access its global network of verified development teams that have passed a custom-built tech due diligence screening process.
We at Digital Knights are looking forward to jumping on a high speed train with Simple Token to explore and apply a truly disruptive technology in terms of establishing trust, transparency, and security for our community. We’re especially excited about how this move can incentivize highly collaborative business relationships that enable true win-win scenarios where both parties are equally committed to each other’s success.” — Keilian Knudsen and Prags Mugunthan, co-founders, https://digitalknights.co
Pepo is the place for local tips. Thousands of people use Pepo every day to share insider tips on local hot spots and travel destinations.
Pepo has been supporting the Simple Token project since the first concept developments in early 2016.
Today, Simple Token has built an end-to-end implementation of “Pepo Coin” based on the OpenST protocol. Pepo users will be able to earn Pepo Coin by contributing valued tips and reviews. Every time a tip is upvoted, Pepo Coin are transferred from one user to another as thanks for the tip. Pepo users will be able to spend Pepo Coin on related local and travel services such as travel advise, personalized itineraries and tours. Pepo and Simple Token will publish a proof of Pepo Coin implementation based on OpenST in the next few days, including Pepo Coin transactions being recorded on OpenST open side-chains.
Interested in becoming a Simple Token partner Member Company? Email us at email@example.com Thanks!