Found this coin in the altcoin discussion on this forum:
What is the usecase? I do not really get it what this project is about.. Thanks.
You can register "physical objects" on the network. In case of loss or theft you can "mark" the object accordingly within the network. Other network users can then identify the object as lost or stolen.
Say you want to buy a used iPhone, you could check if it is reported lost or stolen. This tech makes "property status" of objects verifiable, which to date is a problem, thus enabling theft and fencing crime. nice idea.
On the other hand they produce tech that lets users check the authenticity of objects. Again, say you want to buy one of those fancy Louis Vuitton bags privately, you can scan it for a chip it carries, thus verify if it is authentic LV. From what I get, they have own code for these chips that can not be manipulated - not tech savvy enough to judge that...
I don't know how others see it, but that's a real world problem these guys are trying to solve... that's what I like about it. Too many projects are "hardcore" crypto or only serve 1% of humanity... this servers everyone... and should it fly, it actually would be a hit to crime and all that fake stuff. I think people should be more supportive of projects like this, that actually have a useful purpose instead of attacking them because they are not what "purists" think crypto is... my 2 c
I may add while at it... what I like about this project
- these guys decided not to cash out through an ICO during hype stage, although they probably could have easily made a ton of cash... stuck to it.
- as far as I can see, money raised was put into real development, products and tech - visible investments and progress - marketing - if you like it or not, its necessary in the real world..
- coin holding period of 3 years
Really like to see this fly, have just a small stash of it, but I think I'm putting more on this...
