What is a Milestone-based Token offering? Storecoin, with Early Backing from Ari Paul/BlockTower Wants to Tokenize your Data
“If we’re right about our thesis, a new
computing platform emerges — one powered by open and tokenized data.
Not only do developers get paid when the
Google’s of the world want to query/crawl/search their data (and devs can even
share this data revenue with users), developers can build with the open data
streams and open APIs of other developers (who get paid when the developers
access their data stream; 1MB data = 1 datacoin).
I think this can change the world. It’s a
new computing platform powered by open data.
Storecoin is merely incentivizing it.” –
Chris McCoy, CEO of Storecoin
June 15, 2019
Consumers are more than ever aware of and feeling the
effects of predatory business practices from Big Tech, as data breaches,
deplatforming, and policy shifts occur at alarming rates. Washington is
scrambling to gain control over the situation.
Consumers favor alternative approaches to data handling instead of a mass break up of today’s tech companies. Consumers want alternative business models that allow people to leverage their data as an asset they can manage.
What is Storecoin?
Storecoin is a zero fee payments and peer-to-peer cloud
computing blockchain that will enable such an alternative by helping transform
data into money. Here’s how it works.
The Storecoin project starts with a zero-fee settlement
layer. At the heart of this is Blockfin, our leaderless, Byzantine
Fault-Tolerant (BFT) consensus algorithm that solves for scalability and
decentralization. Thanks to Blockfin and a credibly low inflation policy,
$STORE functions as a sound money for the entire Storecoin ecosystem.
As security with scalability is proven, Storecoin will open
up miner (or, as we call them “dWorker’s”) participation to anyone in the
world. From there, the secure settlement layer can evolve into a p2p cloud
platform for the decentralization of data and the creation of new, zero-fee
tokenized apps (tApps).
Put simply, we see many applications that want to experiment
with their own native tokens to incentivize work and other activities, to
coordinate their groups, and to experiment with as yet undreamed of use cases.
The first generation of ICO tokens created the issue of
manufactured payment tokens, limited in use cases, and unbacked by anything but
speculation. A weak substitute for money, and lacking decentralized governance.
Developers, and They Will Come
Application developers in the Storecoin ecosystem can only
issue tokens that are backed by the data their application produces, giving
them intrinsic value based on the demand that third parties have for that data.
Because data is the oil of the new economy, this creates an opportunity for the
dWorkers in the Storecoin ecosystem to get rewarded for servicing and securing
the network of applications, while providing a more profitable hosting solution
for app developers than today’s centralized alternatives like AWS.
What’s more, this tokenization of data creates new
opportunities to address consumer concerns like never before. First,
enterprising developers who want to offer something different might take
advantage of data tokenization to help cut consumers in to their business
models, finding new alignment and synergy with their users. Even if users
aren’t being paid for their data, per se, tokenization makes data much more
trackable and transparent, giving users new insight into how their data is being
used and providing them more power to fight against what they don’t like.
Underpinning this all is a shared security network where the
miners or dWorkers of the Storecoin system ensure that the entire network is
protected from malicious attack.
For Storecoin, it is imperative that this new data paradigm doesn’t simply replace one intermediary with another, however. That’s why the entire project will be governed through a system that enshrines checks and balances and the separation of powers. Our governance system makes it impossible for any one group – developers, miners, or the nonprofit foundation – to warp the system to benefit them above the others.
Announcing the next
Storecoin Milestone Token Offering
Storecoin is launching its long-awaited Milestone Token
Offering on Thursday, June 20th at 12pm PT. This Regulation D and Regulation S
securities offering aims to bring in over 500 new wallets and up to $4.97
Million of Treasury into the project.
Since inception, Storecoin has taken a strong anti-ICO
stance and instead has committed to growing Treasury on the basis of achieving
key project milestones. These global MTOs focus Storecoin on transparent
project execution while building long-term trust with its growing community.
The sale will be offered as a sequence of three phased
pricing rounds. Each sale phase will be offered on a first-registered and
first-funded basis. Once a phase is fully registered and funded, the next phase
will open up and be offered to the next registered buyer.
The proceeds from
this sale will be used for a number of vital project building activities,
alpha network for BlockFin, our parallel and pipelined consensus engine
security audits for our BlockFin BFT consensus algorithm
STORE meet-ups around the world
Governance, Economics, and Security Papers for public peer review
first-ever Storecoin Conference, a research and governance global gathering
Existing Storecoin investors include Ari Paul of BlockTower,
Anthony Pompliano, Matt Ocko, AlphaBit Fund, Ari Nazir of Neural Capital, and