Market Challenge recap: The Community Casts the Vote

In The Heat of the Battle of Top 50 Companies: “Market Challenge” Day 2 recap


At the second day of the “Market challenge” conference, the projects from 5 categories presented their business cases. Blockchain community from all over the world dived into the world of VR and AR,  learned about the teams that are building decentralized platforms an next generation mining facilities…. Fintech startups presented their solutions for real business problems; The teams exploring the powers of AI shared how they apply it in the advertising industry and data analysis. The technical experts helped to get back to reality, providing advice on choosing the project… That was a big day and for those who missed it or wants to refresh the memories, we provide a recap.

A Dive into VR World and Extended reality

The community members enjoyed the presentations of such companies from the VR category, as HyperionX and GoFind XR. HyperionX introduced its distributed network for smart markets or trust-less ecosystems. Their team is focused on advancing people into modern technology through gamified interactive experiences, promises the company on the web page:

“As you interact with the community, you can earn tokens and be free to pursue ideas, passions, and personal improvement”

GoFind XR, the Earth’s Digital Estate, decentralized extended reality platform on blockchain, connects different services to earth’s geolocations. As the CEO of the company, Manindra Majumdar, pointed out, the team aims to build the XR-web, digital layer connected to geocoordinates:

“It is XR digital layer on blockchain to build applications and monetize applications”

Manindra highlighted that the team is building the entire digital ecosystem: the developers build various applications on the blockchain, for example, game, social media app, real estate app, advertising engine or insurance app; the users are getting these applications, potentially, for free; and investors can get returns on XR coins:

“We make the infrastructure, which is free for the user”

The investors can stake the XR tokens against locations to get a revenue share of activities that happen in those areas, like in the popular game Monopoly:

“We call it Proof-of-Geostaking. This is how we create value for the token and for location”

A technical specialist, Dmitry Soloviev, checked the functionality of the platform on air. He managed to buy a piece of property using the ETH and pointed out, that the functional prototype was at a place, and this could help the project move to the next phase.

At the moment the platform has about 11 000 users, that might for now consist mainly of crypto enthusiasts since the platform is in beta version and there wern’t any advertising or marketing activities performed lately. The opportunities for monetizing the stakes will also come later, after the ICO. Despite the current state of the ICO market, Manindra Majumdar is convinced that the token will “pass the test for utility”, and ICO will be more beneficial for users than STO, highlighting the strengths of the team.

Platforms for Decentralized Applications and STO Markets 

In the platform category, Daniel Vieira, the CEO of Eqwity, has presented their decentralized ecosystem that aims to help businesses to easily get into STO market by offering incubation, issuance of tokens, compliance, fundraising, governance, tokenizations, and trading services:

“We noticed that STO will be the next big revolution in blockchain industry… We also noticed that the STO market needs more service aggregation, standardization of processes, and also decentralized procedures, which are compliance and insurance. So to furtherize the worldwide adoption of STOs, security tokens, more globally blockchain, Eqwity is providing the ecosystem where startups could get easily to the STO market”

The platform consists of two main parts, serving both the investors, starting with the accredited ones and businesses. In the business part, Eqwity offers one-stop-shop solutions, like the STO Plus issuance and compliance to issue the tokens, the decentralized tool for governance to manage votes and dividends via Community Voice Mobile DApp, or automated digital asset listing on Blockchain Stock Exchange (BSO), that is planned to be like “NASDAQ for security tokens”.

Since the security tokens have its limitation when it comes to offering services, the company is using the Hybrid model by offering a compliant security token and a utility token simultaneously. As CEO highlighted, the team had managed to build a bridge between security and utility tokens:

“Оnce you get the security token, you get the utility token as well. The security token can be used for voting or dividends and utility token for access to services”

As a competitive advantage, Daniel pointed out to the company is not only serving as a mediator but taking in charge all the process and provide all the information, while using real technical and legal ERC-1400 compliance systems.

Since the community has had enough of unrealistic projects, the team has introduced the Proof-of-Viability (PoV) label, which the startup can get only if the judges, auditors with different expert knowledge agree on the project’s viability. But, as our reporter, Blaince Gates, put it:

“The Investors have to trust these judges, first”

Daniel lived in Japan for 5 years. To get the project introduction in Japanese or watch other interviews, that you might have missed,  please visit the conference web page.

Mark Anstead, head of business development of the Project hydro, blockchain based project that offers solutions in areas of authentication, identity, document, payment, and AI protocol, presented what they are building to enhance our digital lives.

Mark once again brought the audience’s attention to such security issues, as problems with commonly used code-authentication, and to the potential blockchain based solutions. With their authentication protocol, which has already been introduced to the community, the team promises to make users immune to fishing, sim-swaps, and hacking. Currently, anyone can also test (in the frame of the testnet) the Identity Management Protocol that enables people to have more control over their identity.

Currently, the team is developing the Document Management and Signing protocols which might remove the need of 3d party signature by linking the data directly to biometrics. Another protocol aims to help with subscription payments, invoicing, gift cards and p2p solutions. With AI application the company promises to allow everyone to build and deploy AI Dapps on their platforms, which, according to Mark, “is a very big deal”:

“Anybody who is in technology, whether they realize it or not, is using AI probably about 100 times every single day when they are browsing around on the internet. It is kind of a scary thing but our data is being used for improving AI. And basically, all small and medium enterprises and international enterprises are going to be able to have access to this”

Finally, the company also plans to bring the opportunity to build and deploy security tokens for everyone: artists, companies, real estate owners etc. As Mark mentioned, the company was jump-started by mature fintech company from New York to make business and users more secure, and all the applications are free to integrate:

“We are trying to build decentralized future”

Fintech startups for real business 

Chief Marketing Officer, Andrey Khrapov, has presented the blockchain platform ACRYL, the fork of NXT and WAVES platform, which helps businesses “use the advantages of the blockchain technologies” as the “team of crypto enthusiasts who have so far accumulated the most effective technologies, but who are also entrepreneurs”:

“The one thing that you need to know is that our platform was created by entrepreneurs for real business needs”

Andrey shared several examples of solutions to real business problems that the platform is already offering to the clients, like storing information in a distributed database or easy to build loyalty program on blockchain.

There is no innovative technology in the technology, he admitted, pointing out that, the innovation of the project was based on customer experience and community participating experience. The team is using the INO, Initial Node Offering model, as a guarantee for the decentralization of the network – anyone, even with no technical background can buy a device/node to start mining and earning:

“For real business solutions, we need the truly decentralized platform, where a lot of people will be the miners and holders of nodes, to provide that true decentralization. We decided to bring to the market the device, the ACRYL NODE, which is basically a computer with a programme application that allows it to work in the ACRYL platform. For ordinary people, it is just as simple to understand, as they can understand Bitcoin mining right now”

Answering to the questions of technical specialist, Andrey shared that with the current price of a node $1400 per piece, the investor could earn about $200 monthly and get returns after 6-7 months. Since the sales started a couple of months ago, around 100 nodes were sold, and the team plans to sell 10000 independent nodes more that, eventually, will be spread all over the world.

Andrew Osin from BitcoinOX has explained how their new product creates forecasts for all kinds of assets performance, including cryptocurrencies, stocks, and gold, based on the data they collect, combining different approaches, like machine learning and hypothesis approach, to improve accuracy and find data patterns. 

Ctr Group director and technical manager, presented their revolutionary patented technology, Capacity Transfer Radio (CTR), designed to bring the cellular technology to remote areas at lower costs:

“The cost of creating one base station is $100,000, which includes some capital expenses, such as a purchase of equipment, construction of the towers etc. On top of this, there are operational costs, such as electricity, security, and maintenance. Mobile operators carry huge costs to make their networks accessible to people. Therefore, there are some areas, which are not covered. Here our CTR comes”

The core technology is based on using the mobile base stations as donors to cover longer distances. As creators explained to conference participants, CTR consumes less energy, allowing for alternative power sources, which attracted companies from Austria and Germany. However, the main target audience for the company remains the countries with low-density population and poor infrastructure.

The company is eager to win the market and compete with such giants as Siemens or Alcatel, hoping that monopolies will remain the “hostages of the bureaucratic systems”. The benefits for the society might be numerous, as one of the use cases is the implementation of the CTR during the accidents, when victims usually experience difficulties reaching the ambulance due to network limitations.

Korsunskiy Valentin from Neuromachine shared how the value of their decentralized expertize is built and explained the mechanics of the analytical platform for managing crypto assets and exchanging information about the cryptoprojects.

AI Applications for Advertising Industry and Data Analysis

Rafay Lodhi, the CEO of WebSpaceX, explained how his team plans to serve millions of business web pages all over the world by integrating various analysis tools with AI at one single platform. The AI-based system analyzes the data in all browsers to provide a more efficient analysis platform.

Co-founder and CFO of Ubex AI, Artem Chestnov, shared with the community how their global decentralized advertising exchange revolutionizes the advertising market in 4 key blocks: data marketing, Ad network, trading desk, and Data mining system.

The trading desk, that provides with the opportunity to place ads globally without any providers or agencies, is launching in a few months. The data mining system has been already delivered to the market, allowing to share and trade data, and has been growing exponentially. Artem encouraged all community members to test the platform and invited to earn tokens while bringing blockchain to the advertising market.

As Artem pointed out, the core idea is that by integrating AI into programmatic systems the team has developed easy to use tools for advertisers “to show only those ads that the audience wants to see, and optimize the turnover”.

New Hopes for the Mining Industry

CEO and co-founder of MinedBlock mining company, Greg Wales, claimed that their mining company can and will survive at the current market, and furthermore, can survive even lower one: at $3000 for BTC, and $80 for ETH, – and can give returns of up to 5% monthly to their investors, because of the sustainable business model and making mining more accessible to ordinary people, and not just big companies:

“Our primary goal really is to bring some trust and honesty back to the mining industry. There was a lot of scam projects that vanished over the last 12 months, where investors have lost a lot of money”

The company is launching in several months with equipment based in Iceland or Dubai, depending on how much funding they will be able to attract.

How to Choose the Project: Advice from Technical experts

Chief Technical Officer of NewConomy Media, Dmitry Solovyev, shared his opinion on key success factors of the startups, from the tech perspective, which are platform business model, popular platforms with a lot of developers, and solid mobile strategy. Key point could be the incentive system for developers, without it no value could be leveraged in the solution, he assumes. But, according to his opinion, it is still not sufficient to have solid technology:

“Technology provides access to the ability but the knowledge provides the power. It is also necessary to provide education for the team and for partners about how the startup is using the technology to build new value of a product”

Getting Ready for Final Results and Rewards

Today community members are invited to participate in the most eventful day of the “Market challenge” conference and enjoy the interviews with representatives of such major companies as Huobi, Neironix, Crypterium, Ultrafund and Kaspersky Lab. After 6 panel discussions with market leaders, conference participants will get access to the final rating of the battle. Last but not least, after announcing the winners among companies and community members, the partners will distribute valuable prices. Do not miss the chance to vote, participate in the discussions, share your opinion and stay tuned! See you on the conference.