Latest posts of: ofocoin

We would like to announce a new project called "OFO Content Ecosystem".

Our Website: http://ofoco.in/
http://ofocoin.io/

Introduction
This project started with the motto of "One-for-One" inspired by TOMS Shoes (TOMS Shoes). “One-for-One” means that a customer will donate one pair of shoes to other people for every one purchasing. This good intention later grows into shoe factories in the developing countries and gives a new opportunity to everyone who lives there.

“One-for-one” motto can be adapted in various ways. Not only shoes, people also need other commodity like food, water, housing, etc. However, establishing a platform that support such commodity sharing will require huge effort. On the other hand, digital content can be viewed as a kind of commodity for people with various information and valuation which can be shared to other people will minimum effort. Thus, we would like to begin our project by using contents as commodity.

Over the past few years, the way people produce and consume digital content has changed drastically. In accordance with the raised of technology and mobile device penetration, average daily content consumption on internet has raised significantly. There exist several popular platforms which support content creation and sharing, such as: Facebook, Instagram, Netflix and YouTube. Most of them use advertising as monetization model which can lead to inconvenience and other platform require users to pay for contents.

Using OFO content ecosystem, we intend to create new ways of sharing where people with more purchasing power can donate to others so that people with no purchasing power can have access to paid contents. In OFO content ecosystem, every transaction will be conducted using a kind of cryptocurrency, named “OFO coin”.

In addition to providing a new way of sharing, OFO Ecosystem also provide an incentivized Content Platform. That means Content Creators will be rewarded since they actively produce good contents. User as content consumer may also be rewarded since they pro-actively consume and evaluate content quality. Rewards will be given to the users in the form of OFO Coin. In this way, everyone can get the benefit of living inside our ecosystem without relying on advertisement.

Our hope is to help creators produce and broaden the spread of beneficial, inspiring, friendly and cultural content which can bring positive changes in the future of humanity welfare. By enabling more people to gain access to high-quality content regardless of their purchasing power, we can also eliminate the risk of illegal act of content piracy. Our development team expects cultural blessings for all of mankind.

OFO Framework
CESS: Close Ended Sales Stores
CESS are virtual shops which will sale content or offer subscription services on variety of contents. It can be user’s own content, licensed content or mix of both. Let’s say someone wants to start Netflix or Spotify like service but don’t have an infrastructure and method to transact. CESS will provide secure, easy and faster way for them to get started.

DOMs: Dedicated Open Marketplace
DOMs are dedicated open marketplace which can be created by any community member. Each such marketplace will be dedicated i.e. linked to a predefined objective/purpose. Unlike CESS it is always collaborative and open which means other members can also contribute content to the marketplace. Earnings in DOMs can be linked to content consumption and distributed directly to the relevant owner or the earnings can be pooled and distributed to everyone across all the contributors. DOMs can create their own governing bodies under DAO structure. With Concept of Karma and Karma Decay they can identify and select active and trustworthy members as a part of their governing body. OFO Coin allows them to democratically operate their DOMs.

MTMs: Micro Task Marketplaces related to content
MTMs will be the market place like Amazon’s Mechanical Turk. However, due to use of blockchain and specially designed framework; it will be much more transparent, fair and active. MTMs will represent a crowdsourcing Internet marketplace enabling individuals and businesses (Requesters) to coordinate the use of human intelligence to perform tasks that computers are currently unable to do. MTMs can make extensive use of Wepware platform’s capabilities by using the same for research and content management.

Gotcha! Smart Content Foot-printing Tool
‘Gotcha!’ is the proposed browser based tool, created using http://www.wepware.com technology that simply allows users to smartly grab a useful webpage or any digital content. It helps Measuring and Recording Content Discovery Journey of the user. Using anonymous digital foot-printing methods it will be able to identify how users perform content search, explore various options and finally reach to the content that they find useful. Using this recorded footprint, the system can suggest most likely end-result based on initial content discovery request made by other users. It will also support automatic content classification and cross-referencing for better usability.

What can you do in our platform?

Setup a store: Everyone can create virtual shop for selling or offering subscription of various contents. Users can build their service similar to Netfilx (video) and Spotify (music) without having to worry about server technology and infrastructure. All transactions inside this platform will be done by using OFO coin.
Build a community: Everyone can build an open community where several people may collaborate on content production process. They can earn reward based on viewers' reaction and feedback. All rewards will be given in the form of OFO coin.
Be a consumer: Everyone can view content and pro-actively verify its quality or recommend to other viewers. They will be rewarded because they also lead to a better spread of good contents.

Our Website: http://ofoco.in/
Join our Slack Community: https://ofocoin.typeform.com/to/CrE7Nw
Follow us on Twitter: https://twitter.com/OfoCoin

We are announcing our ICO soon, so stay tuned for updates.