By David Drake
With internet connectivity and mobile apps, sharing our knowledge, content, and talent globally is not a difficult feat anymore. But to do this seamlessly, in live mode and to be paid directly for those services, there lies the challenge.
Coinnect is a blockchain-based platform designed for live remote services and content which offers secure, commission-free, and real-time crypto payments. The platform’s tools support live one-on-one, group, and broadcast high-quality video streaming.
Coinnect’s CEO Massimiliano Rijllo shared with me recently his vision and outlook for the company and its market:
1. What problem is your ICO project addressing?
Coinnect is working to innovate the way people can share their knowledge and talent. Today tools like Youtube Live allow streaming of content and receiving a percentage of the advertising revenues generated by a central streaming platform. With Coinnect, the pricing is fully decided by the person offering the content and the payments are directly sent from users to providers without any commission paid to the Coinnect platform. This model is possible due to a Crypto Token, a “medium of exchange” and a “Utility” Token for Coinnect users and providers. Coinnect business model is 100% based on token reserves so 100% aligned to Token Holders.
2. What makes blockchain the ideal technology for solving this problem?
Blockchain enables global real-time micropayments and direct transfers between users and providers without the need of a central platform.
Thanks to Crypto Tokens there is no need for a bank account or credit cards, anyone can join the Coinnect platform offering his value. Think of the 2 billion “unbanked” people in the world and the possibility for them to gain profit when offering remote services, knowledge, and talent.
Moreover, blockchain will also allow us to implement “decentralized” video streaming enabling a real direct interaction between users and providers. This will be a key element for Privacy and for a “Censorship Resistant” Platform.
3. Which key markets, industries or applications will benefit from the scalability of your technology or platform and how?
Similar to the different kind of videos available on Youtube, Coinnect is addressing a broad spectrum of use cases to share live video contents in 1-to-1, group or broadcast sessions like Lessons, Training, Seminars, Remote Support, Live Performances. These are just a few examples, everyone is free to offer their talent and be paid directly by users. Coinnect is a disruptive model not only for influencers with many followers but it can also provide niche content to a small group or to offer 1-to-1 sessions. Coinnect is built to support a pay-per-time model and real-time crypto payments. Every provider will set his price and every user will pay only for the effective duration of his experience.
3. What makes ICO or ITO the best way to raise capital for your blockchain company?
Being a blockchain startup, we think ICO is the best way not only to raise capital but also to start building a community of users. We are working to launch an innovative Airdrop campaign for the first users registering in our Beta Platform. Please register on our website to know more.
4. What is unique about your token or coin that will encourage mass adoption and why?
Our token will give an access to a new ecosystem for sharing content, talent, offer and receive live services. Anyone can spend and earn Coinnect Tokens by being a Provider and a User in the Platform. You can earn Tokens streaming a live “Guitar Performance” and spend what you earned to learn “Japanese”. Coinnect Token will also provide “Premium” features to users and providers holding a certain amount of Tokens in the Coinnect Platform.
Coinnect is “Commission Free” and not like the traditional sharing economy platforms that charge 20%-30% or more. To unlock advanced features you need to hold Coinnect Tokens, we think this is the right model in the Crypto era. In summary, people will be encouraged to spend Coinnect Tokens in the platform to receive value from providers and to hold tokens to receive value from the platform itself. This, in our opinion, will push for mass adoption.
5. What is the main challenge your platform is facing right now?
We had some challenge testing different blockchain platforms, many are still at the beginning and not in line with our needs. Blockchain is a fast-evolving industry, it is important to select the best technologies and discern between “claims” and real solutions. We are now close to releasing our first Beta Platform and we hope this will be appreciated by the first adopters.
6. What is the biggest win that your team has achieved so far?
We incorporated our company in March 2018, in six months we traveled a lot and received support from different people around the world for our project. I think the biggest achievement is the right balance between working to set-up an ICO but also continue to build our platform and develop our business model. This is not easy when you are a startup with a small team and resources.
7. What is the best advice you have received from one or more of your advisors and why?
I think the best advice we received is to build a big community around our platform. This is key to the successful launch of an ICO but for us, this is also key for the successful launch of our platform. However, instead of building a big Telegram Group we want to directly bring users into our platform. We are working on an innovative campaign to do this. Stay tuned!
Disclaimer: David Drake is on the advisory board for most of the firms mentioned or quoted in this article.