[Review by Synco] ICO projects presented at 12th Blockchain Symposium: Token Economy
“Synco to connect the world”
Have you checked out our previous post about the 12th Blockchain Symposium: Token Economy held on July 25?
If not, please refer to the following link: http://bitly.kr/rAPc
Today I’d like to post about ICO projects who participated in the symposium as sponsors and spoke about their projects on stage.
FORESTING HQ
Mobilum
PUKAO GLOBAL
TUNE TOKEN
YouDeal
ODX
DELTA
FLETA
I hope this post helps you to better understand the 8 projects presented at the 12th Blockchain Symposium: Token Economy.
01. FORESTING HQ
Creator-centric value distribution, Blockchain-based social media
The first presenter of the Token Economy was CEO of Foresting HQ.
Foresting HQ suggests a social media platform equipped with blockchain technology to resolve the pain points of the existing platforms.
Foresting HQ looked into how the existing SNS platforms share profits and found out that such platforms including Facebook rely heavily on advertisements to earn profits.
This profit sharing model entails several drawbacks some of which are privacy leakage, sharing of provocative contents and unfair distribution of profits.
It means even though you post high-quality contents, you cannot earn profits. 80% of profits raised from good contents or advertisements directly go to the platform operator.
Foresting HQ suggests a better way to share the profits among platform participants by creating profits with contents not with advertisements.
Foresting’s solution suggests 75% of profits go to content creators and users and the rest 25% go to platform operators and shareholders. Foresting believes it will directly and indirectly strengthen the power of creators, and creators will be empowered and encouraged to create higher-quality contents.
Moreover, content blind and deletion functions, which are not available on Steemit, will be added on Foresting’s social network platform.
Real-time transactions are possible as the platform will be linked with exchanges and other services such as P2P transactions with the support of master nodes, creator incubation and open market advertisements will be possible on the Foresting platform to allow users to enjoy the enhanced convenience.
Foresting offers PTON coins to creators and users.
A total of 24 billion PTON coins will be issued. Foresting will have pre-sale and crowd-sale and run some tests until September and list its coin on exchanges in Korea and abroad by October.
We are living in an era where content creation is valued more than ever and the notion that creators have to be compensated fairly has taken firm root in the society. Foresting’s solution will thus satisfy many content creators and users.
I myself consume a lot of contents online too, so really look forward to the services that will be provided by Foresting.
02. Mobilum
Revolution in payments. Pay with cryptocurrencies anywhere using any payment card
In the future, we may be able to buy things in Bitcoin without knowing that we are actually spending that currency. Mobilum suggests a platform that allows payments with both fiat currency and cryptocurrency using your own debit or credit card.
“With Mobilum, everyone can use cryptocurrency in real life for cab fare or coffee and so many more.”
“We will connect the traditional economy and the cryptocurrency economy.”
said Przemyslaw Maliszewski, COO of Mobillum at the symposium.
The way the Mobilum platform works is really simple.
With the Mobilum platform, you can just read your electric or plastic card on the payment terminal just like we do when making payments today.
It’s possible because cryptocurrency and fiat can be instantly exchanged on the Mobilum Wallet app. All the cards and fiat will be registered on the wallet in the future, which means you can pay in whatever currency of your choosing and make payments with cards you own. Mobilum Wallet app will do the rest of the work for you from currency exchange and transaction.
Currently, Mobilum Wallet supports top 30 cryptos including Bitcoin, Ethereum and Dash.
Users need MBM tokens to use the Mobilum platform and the wallet application, and to make payments with cryptos across the world.
Mobilum is at the last stage of its private sale and the price of 1 MBM token is 0.1 USD.
Also there will be a 20% additional discount during the private sale period compared to the ICO price. MBM is planned to be listed on a HongKong-based exchange.
03. PUKAO GLOBAL
Blockchain with enhanced security and convenience
Security is one of the key concerns in the blockchain community. Exchanges are constantly being attacked by hackers, causing ongoing social disruptions.
Kwon SeokChul, CEO of PUKAO GLOBAL described the current situation as below,
“Defense is basic security solution at the moment and there isn’t any other alternative when the defense goes down.”
Kwon stressed that hackers cannot be stopped and suggested a new security solution.
Pukao argued that we have to let hackers invade the system first. And then, Pukao can track and monitor the activity of hackers with new security solutions.
Pukao’s global ERG monitors every command and responds to hacking attacks in real time.
Hackers can get into the system as there is no defense mechanism, but shortly, a new technology called Flu-Fake is put into action, allowing hackers to extract fake data and leaving important data such as personal wallets or exchanges kept safe.
Security issues cannot be separated from blockchain technology.
“We suggest a different paradigm in the security area,” said CEO Kwon of Pukao.
Users can be rewarded with PKO coins when they turn in data generated through EDR. Where there are data signaling threat or attacks by hackers, users can enjoy additional rewards. Pukao aims to create an ecosystem in which the growth of the industry goes hand in hand with security awareness.
Using PKO coins, platform participants can buy private wallets or security solutions. PKO wallet is currently under development and is expected to provide the defense solution to protect the key value and the encrypted DB.
If you buy PKO coins worth more than 5 ETH, security solutions and the wallet will be provided with no additional costs. Pukao plans to develop its mainnet featured with faster speed, and enhanced convenience and security.
With PUKAO GLOBAL, a cryptocurrency ecosystem with enhanced security solutions will be realized in no time.
04. TUNE TOKEN
Blockchain Song Rights & Royalty Transparency for the Music Industry
“Decentralization of copyrights and profits of music source”
It is widely quoted example when talking about blockchain technology.
Creators can definitely benefit from the blockchain technology.
In the past, creators had to trust the third party to tally the number of hits their songs got or how many times their songs were played. However, with the introduction of the blockchain technology, trust can be generated within the content ecosystem without the third party. As there is no third party, profits can be distributed in a fairer manner as well. That’s why content creators are welcoming the platform called Tune Token.
Tune Token was founded by Erik Mendelson, CEO of Cre8tor, which is known as Recordgram.
Tune Token suggests a platform on which anyone can create their own songs and share existing songs more easily.
Users can make up various beats and songs on Cre8tor and store them. They can also add their vocal. If they like the song they created, they can own them after paying a few dollars or tune tokens worth the same amount.
One of the greatest strengths is that users can earn tune tokens by engaging in social activity on the platform and they can use the earned tokens to listen to music, reducing the total cost needed to consume music.
According to CEO Mendelson, the amount of unpaid royalties, is estimated at $2.5 billion in major countries including Korea, the U.S., and Japan. As the CEO himself is a famous music producer, he knows the royalty issue in the music industry. And knowing it makes him all the more enthusiastic and qualified to solve it.
Tune Token has great team members. The team’s co-founder Winston “DJ Blackout” Thomas is a great music producer with the Grammy award winning history. Shawn Mims, the famous hiphop artist, is also on the team.
World-class musicians Will.I.am. and Pit-bull also support the project as advisors.
Tune Token is paying a great deal of attention to security as well. It has its smart contract tested by Hosho, a company specialized in security and infiltration tests. It also won equity investment from Lightspeed Venture Partners.
05. YouDeal
Unlock the Economic Values of Each Individual
One of the greatest advantages of blockchain technology is that it creates and strengths mutual trust.
Dong Ken, CEO of YouDeal described its service as an Uber of every service category.
YouDeal provides a platform where talent and skills of freelancers can be traded on a P2P base.
It currently has 50 million users and is operating in more than 400 cities. It offers its service in categories such as health, beauty, music and shopping.
More and more people are leaving companies to become freelancers as they chase after what they really want to do.
YouDeal quoted studies by Alibaba and McKinsey & Company and said “there will be 400 million freelancers in China in the next decade.” YouDeal’s solution is to encrypt personal information and utilize smart contracts to allow P2P transaction of skills.
According to CEO Dong, Yuedan, YouDeal’s fiat-based application, was ranked third on the Apple store in China.
06. ODX
Why Paying for Everyone’s Internet Saves You Money, Internet in Emerging Markets
You may have been bombarded with expensive phone bills because you used too much data. But in the future, such a bill may not be much of concern for many.
Nix Nolledo, CEO of ODX said at the symposium that “Internet access is not as readily available in emerging markets such as Indonesia, the Philipines and Thailand as developed countries. “
So he created MakeFree, blockchain-based data platform to allow people to access the Internet without worrying about data.
To access the Internet for free, users need to possess ODX tokens. One can earn ODX tokens when watching advertisements of publishers.
It is beneficial to publishers as well, because providing free Internet access is cheaper than running advertisements.
Users can manage ODX tokens given by publishers on the ODX wallet. To use ODX tokens, users have to create a personal ID on the ODX wallet. More ODX tokens mean more internet data.
“A U.S-based publisher can provide data for a user in Africa without actually meeting him or her,” said CEO Nolledo and it best describes the service that ODX will provide.
With ODX, an era of the free Internet seems not that far away!
07. DELTA
Blockchain Protocol for AI-driven Content Platform
Many people think information available on the Internet is fair and unbiased. However, it may not be true according to DELTA. DELTA says only 12% of the information on the Internet is readily accessible by users. And moreover, 55% of data is in English and only 3.5 billion people over the world can access the Internet. So the Internet is pretty biased contrary to how it may appear on the surface.
DELTA aims to establish fairer and more personalized internet environment.
Choi Jeeyoung, CMO of DELTA talked about problems related to big data to begin with at the symposium. It costs a lot to build a system to process big data but few people dominate the processed data which means biased data can be created.
DELTA suggests two ways to resolve such issues.
1) Launch Delta Knowledge Hub, decentralized content platform
It aims to transform unstructured data into structured data and make it useful. The Hub is programmed to make responses based on user needs.
Questions, answers and evaluations made within the hub are compensated with tokens.
2) AI-powered voice recognition service, DEIRO
DEIRO, AI-powered voice service, will be provided based on the information and data collected from the Delta Knowledge Hub. The aim is to provide customized answers based on the user’s interests, tastes and profiles.
Data creators will be rewarded with tokens.
DELTA aims to create the Internet of future, which is an AI-platform where data is created by users and given a proper amount of rewards and their rights protected.
At the Token Economy, DELTA stressed the value of rewards given to individuals, saying “the future of the Internet is where content creators are compensated fairly for their work.”
08. FLETA
FLETA resolves the fundamental issues of Ethereum and EOS
Blockchain technology has been such a buzz word for a few years now.
There are some 3,000 projects now in the sphere, 17 times more than the year before.
Against the fast growth of the industry, there are several points needed to be improved.
As for Ethereum, when dApp developers work hard to attract more users, transaction fees go up. The more the services become activated, the higher transaction fees users have to pay. EOS tried to solve this problem but their solution was to burden developers with transaction fees which wasn’t the fundamental solution to the problem.
FLETA pointed to speed, stability and scalability issues as the ones to be addressed to accommodate more dApps and to solve the existing problems in the blockchain sphere.
FLETA designed its platform to be the fastest one even considering the volume and scale. To that end, the block size is completely redesigned to be 43% of the original size.
Sharding technique was applied to process multiple transactions at the same time. The transaction speed went up to 20,000 TPS. It could be increased to 10 million TPS but it was optimized to the 20,000 level, considering stability and scalability.
Multi-chains exist independently to solve the issue of scalability to accommodate an unlimited number of dApps.
FLETA has a goal to become top 4 cryptocurrency in the world, and a platform that outperforms EOS.
Its goal is to become the key currency after being ranked 4th after Bitcoin, Ethereum and Ripple.
FLETA will open the test net in October and begin operating beta test in December before officially launching its platform in 1Q of 2019.
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I hope this posting helps you to understand the 8 projects presented at the 12th Blockchain Symposium: Token Economy.
It is already Tuesday and I hope you have a great week. =)
