TimeCoinProtocol, a new project developed by TimeTicket leveraging blockchain technology, is ready to create a decentralized sharing economy platform. The solution is powered by the TimeCoin token (TMCN), an EOS-based native token used both for payments in decentralized apps built upon the protocol and for the allocation of rewards for platform supporters.
It has been reported that TimeCoinProtocol will allow users for sharing economy apps to migrate from service to service while keeping all their private data and hard-earned reputations. This also makes it attractive for DApp developers to adopt, as it allows them to offer their services to a much larger pool of users attracted by the whole ecosystem of dApps than they can each get by themselves alone.
However, the protocol is already being adopted for real services by the development team. The first two dApps of the many expected to use TMCN are TimeTicket and eSportStars.
Japanese Listed Company Globalway Plans to Build Sharing Economy Protocol and Launch IEO https://t.co/KCqiwT8dL4 pic.twitter.com/1bdVAXfrbE — Bitcoin News (@BTCTN) July 13, 2020
TimeTicket’s parent company is Japanese tech group Globalway Inc, which has over 50 million users and is listed on the Tokyo Stock Exchange.
It has been analyzed that the current marketplace functions as an intermediary between people who want to provide services by selling their own time and people who want to purchase these services from them, as TimeTicket has more than 250,000 registered users.
Likewise, it will use the TimeCoinProtocol to offer a new decentralized marketplace with direct peer-to-peer interactions and no intermediaries, as the company raised more than $3 million USD from investors and its revenue has increased more than 20 fold over the last 3 years.
Moreover, the developers of TimeCoinProtocol are planning on launching an Initial Exchange Offering (IEO) event for the TMCN token on BitForex.
The schedule for the IEO will be announced soon by the exchange. Initial TMCN token supply is set at 100 millions.
Also, the TimeCoinProtocol team plans to announce an activity where supporters such as community members can receive tokens based on their contributions to the project.
Thus, the report stated that the activity will be announced on the project’s Telegram channel so make sure to follow it for updates.
Source: Bitcoin News | Image: Pixabay