Blockchain technology, in particular the cryptocurrency mania of 2017, has created a lot of disruptive buzz in the industry. This article will discuss the blockchain projects that I have been involved in and the ExO Attributes derived from one of these.
A blockchain crowdfunding company in Australia, Enhanced Society, which also runs the Blockchain Club, has been working on creating a crowdfunding platform that facilitates collaboration and democratizes investment, entrepreneurship and innovation through quality crowdfunded blockchain projects.
Enhanced Society is currently working on a number of interesting projects, including YPB, an anti-counterfeit project that may save lives (by protecting against counterfeit medicine, for example) and Circum.World, a fintech project that is creating a platform to enable direct trading between people and removing the transaction friction cost.
YPB is the first publicly listed company in Australia that has announced it will be doing an Initial Coin Offering (ICO). From their lite paper: “YPB will introduce a revolutionary, blockchain-enabled, mass market innovation in protecting brands from counterfeit that will enable them to engage with their customers in communities of mutual value and interest.”
It has access to an anti-counterfeit technology developed at MIT using serialized microparticle barcode that can authenticate a product by simply using a camera phone and its flash. The YPB token is used to incentivize the buyer of the product to authenticate it and scan a QR code to send the information back to the brands. The brands can purchase the tokens to use the codes as well as to engage their customers.
This technology leverages the following ExO Attributes:
Helps in building a community via the YPB tokens
Creates loyalty and trust of the brands' products being genuine and tracking information about the customers when they scan the QR code of the products
Encourages the customers to send information to the brands, and for the brands to engage with the customers using the tokens
The interface is unique in engaging the brands’ customers, as they can use their camera phones to send information of the brands’ products through a QR code.
Allows the brands to track information on their products, such as location where product is being used, etc.