Blockchain has gained huge acceptance in recent years, and a lot of companies and businesses are leveraging on this decentralized, next generation technology to drive their business to the next level.
Am happy to bring you to speed with this new innovative project called the GSENetwork!
The major problems that this project aims to urgently address are those limiting the growth of the global sharing economy. Some of which include include the trust gap, high intermediary costs, a fragmented and monopolistic landscape and the lack of risk relief.
INTRODUCING GSE NETWORK
GSENetwork aims to build a decentralized trust system for the sharing economies incorporated with blockchain technology. It aims to proffer a way out of the Economic sharing problems and it does this with the aid of the powerful digital technology. The advantages this will give the system is security and transparency, and this would fortify the system for its users. By placing more emphasis on the global sharing economy, the platform seeks to create a decentralized trust network to address trust issues that has limited the growth and expansion of the sharing economy. The GSE network will aid the interaction of every user, service or asset at different parts of the world.
BLOCKCHAIN POWERED PLATFORM
The platform uses blockchain technology as the enabler which facilitates the seamless exchange of value through a decentralized medium, eliminating the need for a dominant intermediary. The unique benefit of blockchain technology is its ability to power software applications including the smart contracts, in a decentralized and secure peer-to-peer network that is not managed by a dominant party.
Will it work?
Another interesting question that we should ask is, will it work? Sure, we like money so much, but does that mean we will do it all the way? Of course not. Personally, I think it can work, as long as some conditions below are met:
- Token price is not so bad, or the payout is pegged to fiat. If the token price is too low, or the payout is not pegged to fiat, then the 'incentives' coming from this process might not worth so much.
- The product is working as good as it should. Without a working product, it is impossible to ensure this incentives system will work. You can say that without a good product, any discount that you give for it won't affect your sales at all.
Based on that scenario above, I think "green mining" might be a good strategy for GSENetwork. Applying such incentives to a new and on-going business will increase the rate of participation that is needed for the growth of the network.
THE GSE 3 PILLAR SOLUTION
GSENetwork plans to use a three-pillar model to revolutionize the sharing economy. They include the Decentralized Service (DService) Platform, Incentive Model and Trust Network:
🔽 DService Platform offers a robust distributed service infrastructure that supports the sharing economy businesses based on blockchain technology. The implementation of the core components of DService will take place in the following areas; Transparent Pricing System, Anti-Fraud System, Multiple User Profile Rating System, and Order Dispatching System.
🔽Incentive model brings in a modern approach to mine tokens via user engagement on the platform. This his will cause all the transactions done in the system to be reward based.
🔽Trust network enables the users to build their own trust profile and at the same time receive their reward in form of GSE tokens. This will help the platform to give users control, and a chance to add to the quality they provide to the system.
THE GSE TOKEN
The token of this platform is referred to as GSE. The system will generate a certain amount of token at a regular interval. The process is influenced by two major activities in the system: first, the participation of users in the Green Mining activities, while the other is the nodes’ involvement in accounting operation. In each specified period, the generated token will be shared among these two categories of users depending on certain proportion. GSE serves as the medium of exchange on the GSENetwork as well as providing the economic benefits which will be utilized to encourage stakeholders to contribute their quota to the growth and development of the platform. By 2019, it is expected that the platform would have undergone several transformations such as the Launch of the Public Chain, Mapping of ERC-20 to GSE Public Chain, Launch of Wallet 4.0 to provide support for DApps and the total migration to GSE Public Chain.
THE DISTINGUISHING FEATURES OF THE GSENETWORK ECOSYSTEM
These features will enhance its functions and help it to achieve it’s utmost goals. Let us briefly discuss these 3 peculiar features:
- A DService network which is designed in this ecosystem together with a DPoS consensus protocol. These will function as one component of the Dservice i.e the decentralized service and this will be useful in aspects like the message delivery system, to guard the system against fraud, and to create a transparent pricing medium.
- A model for incentive is created using a Green Mining strategy, this will cause all the transactions done in the system a reward based one. However, the system will also encourage partnership to allow more people to participate and benefit from its model.
- A reliable trust network is created and designed to increase the involvement of more users and this will enable the network to design a trust profile for everyone. This is also aided by the use of tokenomics and incentives for users. This will help the platform to give users the control and a chance to add to the quality they provide to the system.
Token name: GSE
Total supply: 100,000,000,000 GSE
Minimum Unit: 0.0001 GSE
- 40% of GSE will be set aside to build ecosystems such as green mining, strategic partnerships, ecosystem incentives, etc.
- 20% of the GSE will be allocated to the Foundation to provide support for the community.
- 20% of GSE will be released to private investors.
- 15% of GSE will be allocated to the team.
- 5% GSE will be allocated to the Advisor.
The usefulness of any project can be measured by it’s ability to solve problems. The GSE network project aims to create a decentralized sharing platform that will completely revolutionize the global sharing economy, and help facilitate the creation of an independent network of providers and users; where investors will have a safe haven for their investments and all the users will be satisfied with incentives thereby maximizing profits in a secure investment environment.
I will like to say, at this point, that the ideas presented in this article is just a summary of the enormous possibilities that the GSENetwork project holds and offers to corporate entities and even individual users. I, therefore, strongly recommend everyone to read through the GSENetwork whitepaper for a better grasp of this prodigious venture. Below are some other useful links to help you keep abreast with the GSENetwork project.
Following more information;
Website : https://gse.network
Whitepaper : https://www.gse.network/static/media/whitepaper.pdf
Telegram : https://t.me/GSENetworkOfficial
Reddit : https://www.reddit.com/r/GSENetwork/
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