My name is Mickey, also known as Tezkatlypoka from Reddit, and in this short article, I will give you an update for IceBreaker ICE project because every decent project needs to have some regular updates, right?
Manual to this article: You have to read this article from front to back and show your grace. After all, that is how literature works, right?
(unless it is instruction manual, in which case no one reads them at all)
IceBreakerAR is a fantastic project born in the heart of Toronto, Canada and aims to combine all of the great stuff from existing dating, social, professional networking solutions and interactive games however this is certainly not the finish line for the guys at IceBreakerAR. These front-runners in the race of innovation will also enhance this miscellaneous mix with entirely game-changing ideas and visions of the future, like augmented reality, exclusive retail partner discounts for application users and an Approach Adviser!
Let me show you how delightful a project can be done when ace developers and coders are communicating with scientists and psychologists.
Their far-sight vision reaches even further. Imagine the possibility to have contact lenses with the slightly enhanced perception of your surrounding, as you are walking down the street and see a perfect match for you. The application will then tell you what are your common interests and also where it would be nice to go together for your first friendly talk.
In this little update, I would like to show you why should you invest in IceBreakerAR and also what is new with this new player in the field of future dating/matchmaking/collaboration app which is designed to change your life, not to boost your ego. Let me guide you through. Pay attention, please. Thank you :). Let's go!
Intro with the founder Thien To
Hello Thien! As you know, It is already a few days since we have been spoken about your Icebreaking project and I think its right time again to bring some news to our readers and IceBreaker enthusiasts! I really like your radio interview by the way!
It was a delicious and warm-hearted talk full of useful information and mutual laughter.
Now let's get to talk about some updates regarding IceBreakerAR.
Have you already done your application test in the center of Toronto town?
No that will happen once we have completed Beta testing. We are targeting end of Q1, early Q2 2019 to have a final app ready.
How you application development reach further since we had spoken in our interview last month?
We have completed a prototype which allows us to demonstrate some of the core use cases and provides a look and feel for the app and our vision for the end product.
Do you have some exciting updates for us? Where can we see you live?
We are currently creating a demo video to share with the world. We will also have an opportunity for live demos at our booth at the Blockchain Europe conference in Amsterdam June 27-28 2018. In addition, we will be releasing an explainer video soon, have several more youtube influencer interviews and onboarding new well-respected advisors to the team.
Do you have your first private investors already?
As you know my friend it is a very tough market for fund raising right now. Add to that the very restrictive north american regulations and it makes a difficult task even harder. We have had numerous positive chats and still open for more investors for our private sale.
ICE token valuation with CTO Michael de Blok
Blockchain protocol and the network
We have chosen for the Ethereum Network and ERC20 Protocol initially. The ERC20 protocol standard contains essential functions that any useful token should implement to enable trading. These include transferring tokens, inquiring the balance of tokens at a specific address, and the total supply of tokens.
ERC20 compliant tokens all have the same functions, with the same names, which take the same arguments. You can create a token exchange system that allows you to quickly add new tokens to your platform the moment they are released, as long as they follow the ERC20 standard. No matter how many different tokens there are, the same system can support trading between Token A and B, A and C, A and Z, Z and M, etc.
The final result is less risk, more uniformity, reduced complexity, and enhanced liquidity of tokens. A successful ICO can have their ERC20 tokens trading on exchanges without any communication between themselves and the exchange developers. ERC20 has encouraged a positive feedback loop, as token purchasers can be more certain that they can trade new ICO tokens, leading them to purchase more ICO tokens, causing more ICO’s to be created, and ultimately more innovation and value in the Ethereum blockchain.
Blockchain Usage for IceBreakerAR:
Security - Traditional servers or data are generally centralized, making it a likely target for malicious attacks. Just look at the Equifax’s security breaches and other cybersecurity concerns arising in recent times. Instead of having a single or limited # of servers hackers can attack, decentralization via the blockchain dramatically increases the difficulty. The more participants/nodes in a network, the more copies of the data there is. Therefore, if you want to tamper with the data, you will need to attack every single node on the network and alter all of their data simultaneously. Not only does blockchain make data tamper-proof, but it is also hard to breach. Every “block” on a chain contains a certain amount of data, and when that block gets filled, much like a USB drive, it is encrypted and sealed forever. To get the full picture, hackers will need to hack not just the current block, but also every block before it. This is not only technically almost impossible, but it is costly, thereby reducing the incentive for malicious activities. Different blockchains have different security measures and algorithms; this is a generalization of the concepts.
Redundancy/Disaster Recovery - You basically have the same set of data distributed across the world, you don’t need to worry if you lose your copy. This provides data resilience to corporations which gives peace of mind from any data corruption, server downtimes, etc.
- Overhead/cost reduction - Having a decentralized network of nodes to maintain this ledger allows companies to offset and offload hosting security, and maintenance costs. It removes a lot of the costs of IT staffing, Dev Ops, and infrastructure overhead.
Accountability - With all of the above in place, you can be sure that everything that is logged or deployed on the blockchain, is accurate, and real.
All of this results in the ease of trust, and ease of the ability to do business transparently, without needing to trust the counter-party. You can leverage blockchain technology to let the data and facts speak for themselves.
Do currently systems and data infrastructures work? Sure, but they are not perfect. They only exist the way they do because there hasn’t been technology that could come along and offer a vast improvement until the introduction of Blockchain.
Permissioned Blockchains - To only authorize a limited set of readers and writers, so-called permission blockchains have been recently proposed. Here, a central entity decides and attributes the right to individual peers to participate in the write or read operations of the blockchain. To provide encapsulation and privacy, reader and writer could also run in
separated parallel blockchains that are interconnected. The most widely known instance of permission blockchains are Hyperledger Fabric and R3 Corda
GDPR Compliance - With our blockchain partner we will be able to encrypt our storage with 256-bit AES encryption as well as have the ability to remove data upon request from an individual user permanently
Token holder Value:
Scarcity – When consumers buy in-app IBAR Credits, IBAR then buys 25% of that amount in tokens and burns them. I.e., Consumer buys $10 worth of IBAR Credits, IBAR Then buys $2.50 worth of IBAR Tokens on the exchange and burns those tokens; creating scarcity.
Rewards – When consumers buy in-app IBAR Credits, IBAR then redistributes 25% of that amount in tokens to the token holders that have their tokens locked up. Rewards will start at the Gold package. Further details will be announced in the app and our blog.
Company profit - When consumers buy in-app IBAR Credits, IBAR keeps 50% of that revenue for operations, marketing, and influencer costs as well as company reserve. This aides in business continuity and guaranteed business development are moving forward.
Staking – Token holders will be given an option to voluntarily lockup their tokens for a period, either 30/60/90/120/180 days. With each lockup period, the consumer will receive additional in-app credits (50/100/150/200/250 credits respectively)
Loyalty benefits – Loyalty benefits will have a base, but will also have additional features that may vary from period to period based on partnerships. On top of the additional credits received from Ice Breaker, we will be creating loyalty packages that correlate to the number of days staking your tokens:
- 30 days, Bronze status, minimum of 5,000 tokens
- 60 days, Silver status, minimum of 15,000 tokens
- 90 days, Gold status, minimum of minimum of 30,000 tokens
- 120 days, Platinum status, minimum of 60,000 tokens
- 180 days, Diamond status, minimum of 120,000 tokens
Master nodes – In the future, we are planning to implement master nodes and have them run by the community to keep the IBAR ecosystem going. This is something that is designed and needs to be worked out further. More information on this to come in the future.
Charity – We are huge on charity, we want to give back to the community, and we want to empower you to give back to the community as well through us. We want to provide you with the option; to instead of collecting your rewards into your wallet, to have your rewards distributed to your charity of choice at the end of the quarter.
Liquidity – As mentioned in point 1, we will be buying back tokens to burn. While adoption increases this guarantees liquidity on the exchange.
Thats all for me to you today. Have a nice summer and see you lateter! Next article in 14 days. Peace out.
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