The Cryptocurrency powering live event cashless payments in Southeast Asia
Smart contract blockchain
Blocnation is extremely excited to announce their partnership with the Komodo Platform to launch the world’s first ever decentralized Initial Coin Offering (dICO), guaranteeing investor privacy and heralding a new era in digital payments.
Despite its revolutionary potential, existing cryptocurrencies have not managed to achieve mass adoption and the technology is still confounding for many users wanting to buy, store and send their coins. Blocnation is changing this, creating a solution so easy that your grandmother could use it, whilst providing access to financial technology solutions to those without access.
The multi-currency mobile wallet platform runs on any smartphone and serves three main functions: allows for seamless cryptocurrency transfer through atomic and etomic swaps; acts as a digital currency across the event and lifestyle ecosystem and eventually across a range of other
businesses; and provides access to crypto assets to those unserved by traditional financial systems. The Blocnation App is both a decentralized exchange and a multiple cryptocurrencies wallet, simple to use and of most importance, incredibly secure. Blocnation will provide the world with a quality, closed loop payment option through Komodo’s wallet. The result? A more reliable and secure platform that its users can instantly take part in and feel secure in.
The Blocnation-Komodo-powered-wallet will allow users to seamlessly swap different cryptocurrencies instantaneously via Komodo’s atomic and etomic swap protocols. The revolutionary Komodo Platform allows instant exchange of holdings with others, instead of relying on exchanges. It is resistant to hacks and theft, delisting of coins or issues with regulation and seizure of crypto assets. This solution is not just theoretical either. More than 90,000 successful atomic swaps have happened already and Komodo now covers atomic swaps of 95% of all coins in existence.
The Blocnation App is both a decentralized exchange and a multiple cryptocurrencies wallet. Among the features of the app you can mention altcoin holding, atomic as well as etomic swaps, easy and fast acquiring of event tickets, hostel booking, cashless top up, and cash-back. It's interesting that Blocnation with the help of Komodo Platform are launching what they call "the first decentralized ICO", which can guarantee investor privacy. Project's main goal is to create a more convenient and efficient method of payment within the live events ticketing and then for the rest of services and goods in a cashless payments ecosystem. At the beginning they want to focus on providing the service in the Southeast Asia region, as they have noticed that 73% of the 640 million people there do not have bank accounts and only 10% are eligible to hold credit cards. On the other hand, almost 100% of them have mobile phones, which opens an opportunity for creating convenient mobile payment system. The team behind the project believe that supporting the dICO is not only about creating another blockchain platform, but a whole payment revolution in Asia and giving the people rights and access to financial services. The site is very well designed and the marketing, as well as informational content looks encouraging for potential investors. The graphics and examples of the mobile app also give a positive impression as it seems easy to use, which is the most important feature. The team is relatively big considering its the beginning of the project. However, it consists mostly of advisors and if they want to successfully deliver the platform, they will have to hire developers, programmers and blockchain specialists. But we can assume that after raising the money they will be able to do this. The current team is transparent and it's easy to check their previous experience and skills.
User ReviewWrite review 2 reviews
I like the fact that they want to focus on Asia, especially the countries when the people don't have easy access to banking or financial services. The whitepapers state that "73% of the 640 million people there do not have bank accounts", but the number of mobile phones indicates that almost everyone has at least one. This could open up a possibility to create nice mobile payment system and empower all of these countries. It could be a real revolution and even empower the whole Asian market, as more people will be able to buy goods and services so more services will be needed therefore more jobs will be created. I like the positive message behind the project.
I personally very like the project, it seems professional and they provide all of the necessary information on the site and in the whitepapers. However, there are few similiar projects already so it may be tough for them to compete with other crypto payment platforms or ticket services as we've also seen few such blockchain-based projects. There is a chance for them to succeed as they focus on a very specific Southeast Asia market. What worry me, is the very small team, as most of the members are listed there only as "advisors" so that means there are almost no actual blockchain developers to create such app. But also I understand that when they raise enough money they will be able to hire everyone needed.
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