The future: ties.network

janop (43)in #crypto • 7 years ago

How I discovered Ties.network?

I was talking with some of my friends in a Telegram group in which we try to find interesting ICOs to invest in, and one of them said some interesting things I liked about an ICO called ties.network. Then I started looking for information in the network, mainly in their website and the white paper. Below you have my summary, uses and conclusion about the project.

What is Ties.network?

It’s a social networking similar to LinkedIn which tries to complement and/or compete with LinkedIn, one of the most important things and what makes it special and different from others, is that you can use it anonymously but though having guarantee your money or projects will be safe.

But at first view what I see is that the social networking is mainly destined to people related to bitcoin and all the things related: blockchain, smart contracts and technology… so I don’t recommend it to people who have just started learning about it.

Something that has in common with LinkedIn is the quality of it’s content and the proficiency of the users.

You can get funding from investors and professionals who like your projects, so it’s an alternative way of helping your ideas and projects succeed different to the traditional methods like bank credits,loans...

Ties.DB:
As they say in their web page “A public, distributed and decentralized database with one common thread: trust”. The system is public but is also mutable by the owner and immutable by the others so this could be used for many purposes, my idea will be to use in an open software project to track the record of all the good/bad work done, rewarding the good ones.

Who will use Ties.network?

-I think most of the users will be people that are already used to blockchain and are always interested in learning more and want to participate in some new and innovative projects or also maybe get funding for their own projects and ideas.

For example they want to make a new type of earphones with better subjection so they don’t fall. Another example are socks with thermal insulation, this would have some uses mainly for people who like skiing, snowboarding or hiking, but also would help people who play sports to maintain their feet cool and they don’t develop diseases such as wounds or burns. These are not real projects, but it’s just to get the idea, if someone wanted to fund the project the owner of the idea should share the project to the social networking and try to find people who want to invest in them.

-But also some people who are not used to “the crypto world” and want to get started in this futurist world, and probably in the future an essential part of the good functioning of human society. It may be difficult for them at the start to understand how everything works, but they can use it in a functional way before fully understanding the project.

I also think businesses will make a good contribution to the project: using Ties.DB and dApps in the platform. Like a trustworthy and fast database for their companies

The team and advisors:

First of all, the team does not look shady like other initial coin offerings (ICOs) and token sales.
Secondly, the team is extensive for an initial project and has enough software developers to front the initial market conditions. Finally the advisors look competent.
Alexander Neymark is the founder and CEO of ties.network and Dimitry Kochin is also the founder and CTO.
I’ve also checked their LinkedIn profiles and some of them had already worked together before, for me this is a good think, they already know who can do what and they already know each other and what they are cappable for.

What I like about the project:

What I like most about the project is that is destined to everyone and more accurately to the growing cryptocurrency and crypto market we have today. Like it’s always said: where there’s money you can make money, and we already have a crypto Twitter (InvestFeed) and we already have the crypto Reddit/blog : our loved Steemit.

There’s no new to be the LinkedIn killer it could be used as a complement, one use I see is to build your blockchain related profile in Ties.network and use LinkedIn more as the usual CV.

They will use a big amount of the token generation for marketing purposes, as much as 31% of all the money will be used for that. And this time is not like all the projects that want to pump their price and then sell all their tokens to be rich, this time the strong marketing has a real value.

I think Ties.DB will be used by some companies that are waiting to a solution like that, that can be changed by the owner of the file but at the same time it could be reliable. And some use cases businesses will develop after hearing the utility of the full platform and not only Ties.DB.

LinkedIn needs a competitor who offers new and useful things for the users. Ties.network could be the one.

They have a good plan to make money with the platform, is strucutred in such a way that it could work: they estimate what will be their user growth, from where they will get money, if they are willing to hire more people and more things you can read in their webpage,project white paper and business white paper.

The yearly expected growth is awesome, I personally think the project is good but the main problem will be to obtain new users, so if they really expect that growth it would eliminate the problem

What I don’t like about the project:

The worst thing I see in the project is that is really growth dependent, if for some reason not enough people is registered or not enough usage is done by the users it could lead to a fail of the platform. We have already seen some better solutions of past problems that had a big issues retaining and growing their user base. ( remember all the Whatsapp killers we have seen, at least 90% of them are now dead or at least they are used by very specific purposes).
I’m not sure if the trust system build in the platform will work, what will happen if someone anonymous obtains an honorable reputation but then does a big scam. I know this is also possible in other systems but the main problem here is the confluence between anonymity + trust when the problems could be disastrous.

This is more a personal opinion but I don’t like token sales with discounts for the first buyers, this could be better to ensure all the financial needs from a project but this promotes the capital concentration in a few whales and a small percentage of small investors, which in the long term only causes pumps and dumps in the coin and no involvement by the investors.

What I don’t also like is the need to download Ties.network in order to use it ( I think this is going to be changed but at least now works like thatt). Maybe for all the blockchain lovers, who are used to configure wallets, use exchanges and using 2FA, downloading a program in their computers is not a big deal ( and for this reason I think that the project will have lots of crypto followers but for the main users we will have to wait more or less 2 years)

Will I use it?

There are lots of new projects every moment but some of them have suspicious motives and you can’t really trust them, so I will definitely use ties.network because it offers much more safety than other projects I’ve read about.
Another useful advantages it gives is that you don’t find shady investors who say they will fund you or help you in a job but end doing nothing after you thought you would finally have the chance to finish your projects.
And also I will also search information so I may be funding projects to help improve the society.
The only problems I see is a problem of funding that could happen if little people join the social networking and the other if investors think their money won’t be used to their real purpose.

My final conclusion

The token sale generation hasn’t started yet and right now there’s a 20% bonus for the first 10% tokens generated. So, if you like the project I aim you to buy them the first day.
Right now I’ve some projects in mind so I’m thinking about joining the token sale, but for sure I will use it ( I already have a LinkedIn account) to work better with all the blockchain contributors.
The project solve real problems and has a real application, and the expected operativility of the platform is in a few years.
For those who have read my post up to this point please read the white paper and research the project yourself if you like it. I am neither an expert nor an advisor.