Indorse - ICO Analysis
Today I want to introduce to my fellow Steemit friends, Indorse another very interesting project based on the Ethereum blockchain.
Indorse is a social networking platform that is set to revolutionize how social media is done all over the world. This professional based social networking, which is the brainchild of Singapore based company, Atores and the company has already launched a demo scheme in a Polytechnic in Singapore and it was a great success.
Indorse is a professional social networking site that is owned by all as the company aims at rewarding users through a tokenization and decentralization model. This simply means that users get to make a profit by sharing their skills and activities on the platform. Through its internal reward mechanism by promoting their skills which can be indorsed (endorse) by other users on the platform.
The social networking site is based on a couple of decentralised applications, that includes Truffle, Inter Planetary File System (IPFS), Attores Certificate Issuance Platform, uPort identity system, Spectrum and Status.
Premium Tracking System
The data is tracked by its Ethereum technology which makes it transparent for the payment system to be recorded. This is intended to provide users with the assurance that their effort will be rewarded and it is one of the bedrock of Indorse.
Indorse is pretty much like LinkedIn as it focuses on professionals who can display and market their services on the platform but unlike LinkedIn and other social networking platforms. The site will not just take your data but also give you an opportunity to benefit from it, so you just don’t stay active for just networking sake.
Asides from its reward system, the fact that Indorse will focus on professionals gives it an edge as it will make it the ideal social networking site to meet with professionals in different fields and this serves another great purpose.
Furthermore, with its launch, Indorse will become the first startup under blockchain to make use of the Ethereum Name Service to take care of fraud and phishing scams that have plagued other social networking site in recent times.
Standardized Reward System
The reward system is based on posting of professional achievements by users which could earn them a diploma and this also includes the posting of other non-professional achievements that are noteworthy. Rewards are issued based on anonymous endorsement that is termed as zero knowledge proofs that have to be validated.
The founder of this innovative and game changing social networking site, David Moskowitz, opened up on the ideas behind Indorse in a recent interview;
“Indorse will allow users to profit from sharing their skills and activities on the platform via reward tokens,”
“We envision a serverless, decentralized future, where the users will build their profiles and profit from their reputation. This future will need a decentralized platform where others can judge the quality of a person’s profile not just by where they have gone to school, but what they have actually done in their professional and personal lives.”
Indorse is set to kick off its official operations on the 8th of August and the company have carried out a soft launch of its Token pre-sale, which was a major success and from all indications, Indorse is good to go.
I hope you liked my summary, if you want to know more about the project here are a few more links:
https://tokenmarket.net/blockchain/ethereum/assets/indorse/
https://indorse.io/
https://medium.com/joinindorse
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