Will Open Money succeed to change the game for developers?

xquad (34)in #openmoney • 7 years ago (edited)

"OPEN" targets to be a platform for app developers to monetize and distribute their apps.
This platform will be free for all developers and it will allow them to stop paying ridiculous fees (like 30% of all transactions to the current app distribution platforms).

Basically, the company claims they are bringing their expertise to create this platform (having record of 50+million app downloads for big firms such as Adidas, Toyota as per their whitepaper).

Quoting from Open Money web site,
Currently no seamless blockchain platforms exist for digital token in-app purchase
This is where OPEN Money tries to fill the industrial gap which is a very clever approach for a business model from my perspective.

Sounds good so far but what does this platform mean for developers?

All in-app payments can be received not only in fiat but also in different digital currencies (web and mobile)
Developers can stop paying for unwanted fiat-based chargebacks and stop paying hefty fees on app stores

So in another words, developers develop for other developers to work in a more "open" and unchained environment.

This is all becoming even more meaningful for the ecosystem together with OPEN Token.

OPEN Token is an ERC-20 token, with a total supply of 360,000,000
Purchases made with the OPEN Token will receive a premium value compared to other digital currencies
The Open Token will utilize a special protocol, which will be used by developer to host and interact with users over any smart contract enabled blockchain
For the same amount of BTC or ETH for an app purchase of $100 the OPEN Token's premium would yield $120

How will the system work?

Roadmap:
When we check the roadmap, we see that the first deliverables are expected in 2018 Q2 -this seems pretty challenging-, and the token sales in 2017 Q4.