However, companies utilizing the digital platforms face constant challenges with customers’ data as the data are sometimes abused, giving customers no control over how their data may be shared. Even trusted companies are now losing the trust of their customers; a trend that is affecting businesses considerably. A classic example is Facebook’s admittance of sharing users’ data with dozens of major companies without the permission of their users.1 For privacy-driven business niches such as IoT and Big Data, companies need to take privacy issues seriously. On the other hand, most companies, especially startups, find it very complicated and expensive to build a full digital platform. Part of the challenge is the lack of technical know-how and how the existing platforms fit their business processes. In overcoming this challenge, they often need the services of seasoned professionals whose fees they may not afford.
Blockchain technology has revolutionized the financial sector. Recently Ripple introduced xRapid which enable many banks to reduce their liquidity costs while improving customer experience. 2 We are poised for new advances in the financial sector because of the advantages afforded by blockchain technology. Other areas of the economy have not enjoyed these luxuries because of reasons which are too numerous to state here. Enkronos will bridge this discrepancy to ensure that the benefits of blockchain is spread across many fields of human endeavor such as healthcare, e-residency, electoral system, media, retail, etc.
How Enkronos Works
Enkronos is helping companies, especially startups, to build full digital platforms using a suite of tailor-made applications and products that can easily be assembled together with minimal costs. Each of these products will solve a specific problem within the context of the business in the shortest time possible, ranging from marketing to media to IoT monitoring. Enkronos seeks to build an accountability system on a platform that is fully decentralized such that privacy is protected. Users’ data are kept on the blockchain to guard against data breach.
Users will be able to access all products and applications on the “Enkronos Apps” platform with a single login and be able to monitor the performance of each product from the admin area. Through this, they can continuously determine which changes need to be made depending on their policies and also offer feedbacks which can help developers to create a more functional and scalable product.
Enkronos Tokens (ENK) will be the sole means for access and transactions on the platforms. This makes it very easy to pay for the products as there are many applications from different developers, thereby minimizing inconsistencies with payments.
A Selection of Products on the Enkronos Apps Platform
- FeelGrid: This is an IoT suite that comprises of the IoT hardware and software. It makes use of sensors to log data, which users can monitor easily on their PCs, tablets or smartphones. As data is the new digital oil (cite source), companies rely more on data to make key policy decisions. FeelGrid will make it possible to collect the data that will have the greatest impact on productivity.
- McAudience: Companies make more sales if they are strategic in their marketing efforts by targeting the right customers. They need information on customers’ preferences so that they can categorize them based on some parameters. But there is no system in place that offers companies continuous access to categorized users due to issues with consumers’ data privacy. McAudience will allow companies to build and keep a list of users based on specific characteristics. The users can choose which information they wish to share. This solution makes it easy for companies to find new customers, offer bonuses to customers, and so on.
Third party apps could also be created on the platform.
Information about Enkronos Token and Sale
ENK distribution cap: 500 million ENK tokens
Soft Cap: 2500 ETH
Hard Cap: 500,000 ETH
Initial Price: 1 ENK = 0.003 ETH
The public sale is ongoing right now with a minimum transaction of 0.1 ETH. Bonuses will be given according to a predetermined plan which is available on their website. Token sale will end on 20th November 2018.
For more information about the project could be found in the website and whitepaper.
This article was written by Paul Omits.
Bounty0x full name: Omitusa Oluwafemi
Bounty0x username: omitusaf
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