Enkronos: Improving App Marketplace with Blockchain

The skyrocketing growth of the online market that we have seen lately has resulted in the ongoing accumulation of Big Data. Following the spate of scandals around online platforms reportedly misusing this information, transparent and ethical use of Big Data has grown into a challenge that the market can no longer ignore. Enkronos believes that they can answer the problem with a blockchain-based app marketplace. The security and transparency provided by blockchain are thought to make Big Data more trustworthy, thus eliminating several psychological and juridical blocks that prevent it from being used to the maximum.

Enkronos Apps platform

Enkronos is creating a platform that will enable a vast variety of options for using customer data. They plan to make the accountability system “full trusted not manipulable publicly available” to guarantee the ethical usage of data. Using Enkronos apps will only be possible with ENK tokens, which will render operations registered and tracked in a secure way, eliminating the chance of it being deleted or changed. Some of the apps, such as Loyalty Venue and FeelGrid, have already been up and running for some time.

Tokenomics-based dApps

Enkronos wants to provide businesses with a tool set allowing to improve how they operate using Enkronos apps. Their data will be saved in private ledgers or databases. Corporate users will be charged fee for utilizing the platform in ENK tokens. End users will be able to pay for services and purchase goods using the tokens they can gain as a reward within token-based loyalty programs.

Wide range of uses

Enkronos offers a variety of options with their apps. Apps for some of the use cases have already been up and running. This list includes:

In addition, the Enkronos marketplace will enable third-party developers and businesses to publish their own dApps.

Competition
Enkronos offers a set of various blockchain-based applications and the opportunity for third-party developers and companies to upload their own dApps, or a blockchain-based app marketplace. A quick review with a popular search engine shows that there are a bunch of similar projects, some of them with a history going back to as far as 2015 (see K Systems), others featured on media like Forbes, Inc. Magazine, The Next Web, and Huffington Post (see Waves Platform). This means there is a track record worth inquiring into to better understand the challenges and opportunities of the market. However, Enkronos doesn’t demonstrate the analysis of the competitive environment in any form.

ENK Token Sale Summary

Conclusion
What Enkronos is building is an upgrade of existing products, a set of their own applications that have been live for about a year. The audience of these applications on social is currently several dozen users; unlike Enkronos itself which demonstrates a good number of followers across all social platforms. Taking that into account, Enkronos creates the impression of an attempt to revive the core product using blockchain. We strongly recommend Enkronos to improve the language in which the project is described on their website and in the whitepaper because it was hard for us to capture the idea. Another recommendation for Enkronos is that they should analyze the competitive environment and provide a summary of this research to demonstrate an understanding of the market.

However, we wouldn’t have taken a look at Enkronos if the project was completely uninteresting. We have the impression that they have something to tell the world, but they definitely need to articulate it.

Links:
Website: https://ico.enkronos.com/
Whitepaper: https://ico.enkronos.com/wp-content/uploads/2018/05/EnkronosApps_WP_1.4.pdf
Telegram: https://t.me/joinchat/Aplk7BMPqcV2UMJHRQYh-w
Twitter: https://twitter.com/enkronos/
Facebook: https://www.facebook.com/enkronos/
Author: https://bitcointalk.org/index.php?action=profile;u=980049

bounty0x username: the1arty

Disclaimer:
This review by Bonanza Kreep is all opinion and analysis, not investment advice.