Open Money is a project that aims to bring together the global software sector and the blockchain technology. This ambitious project looks at using this growing platform of software applications in order to expand the current ecosystem of the blockchain market.
Open Money is a project that aims to bring together the global software sector and the blockchain technology. This ambitious project looks at using this growing platform of software applications in order to expand the current ecosystem of the blockchain market.
Open Money wants to bring about a connecting platform for consumers and developers to help them gain more through the technology available and make it easy for both parties to interact without the involvement of a third party.
They want to make cryptocurrencies more accessible and widely acceptable. It would allow for the further strengthening of the blockchain technology that many companies are aiming to develop. It will be the one-stop destination for monetary transactions through various cryptocurrencies available.
Open Platform
In order to accomplish their goals, the team of Open Money is launching the OPEN Platform which is an initiative that would enable developers to accept cryptocurrencies and do away with the limitations the current ecosystem.
This unique app will be developed with the help of the REST API (Representational State Transfer API) and SDK based platform. This app will even be able to support Android, iOS, JS, and React-Native. It will enable developers to directly cater to consumers and monetize their products through the blockchain technology. And it will help widely accepted products to individualistically establish themselves and distribute solely on the basis of cryptocurrency.
In their white paper, the team of Open Money has even recognized the fact that since both the industries are highly dependable on changes, their app will be created to evolve and grow over time, alongside the changes implemented in the software application sector and the atypical world of the crypto market.
Benefits of this unique platform
There is no denying that mobile applications, which in 2016 grew by 6% and reached $300 billion in worth, represents a growing segment that impacts how people interact with the world around them. And one year ago the total market cap of Bitcoin and Ethereum was just under $10 billion, which has now grown and reached to over $100 billion in value. This just goes to show that both the markets have immense potential and together they will definitely be able to achieve much more.
However, for this to actualized, several bottlenecks need to be overcome and the Open Money Platform intents on achieving just that. By creating a basic infrastructure to allow developers to embrace the blockchain technology they want to make it easy for app developers to monetize cryptocurrencies. Through this design, they will even manage to eradicate the need for intricate app store policies on receiving cryptocurrencies and the requirement for a third party to interact with consumer and developer altogether.
According to Appboy, in-app purchases represent a large portion of the near $46 billion mobile gaming market, projecting that 2017 will see $37 billion collected through in-app purchases. This platform will allow all these payments to be made via cryptocurrencies. This would provide ease for consumers, who would be able to use an array of cryptocurrencies for payment and would provide developers with a strong and unique platform to distribute and monetize their apps.
Token and ICO
Their initial token sale for OPEN Token will begin on the 29th of September, where a total of 180,000,000 will be up for sale out of the 360,000,000 in supply.
Review and Conclusion
This project proposes a unique way of synergizing two definitive ecosystems that would help in advancing the current market. The software application sector and the technology of blockchain have a lot to offer and are a stage of constant growth. They both provide inherent value and can help solve a lot of problems. This very overlap between applications and cryptocurrencies is what Open Money wants to monetize.
Ethereum currently has a market capitalization of around $30 Billion and Bitcoin of $73 Billion . This just goes to show how much investment potential exists as developers have the advantage of exploiting a $ 150 billion in liquid cryptocurrencies within two currencies alone. Hence, Open Money clearly has the potential to offer so much more through their platform and would prove to be a great investment choice.
Moreover, the team leading the project comes with extensive experience. The team members have led the development of apps such as Grindr (50 million + downloads), Facebook for BB 10 OS and several gaming apps that attracts an average user spending of thousands of dollars. Members of Open Money have even led the development of native Samsung apps. This just goes to show that the team is more than capable of handling this project and turning it into a success.
Ken Sangha, the COO for Open Money, explained that “The key ingredient that we bring to the table is that we thoroughly understand the needs of mainstream application developers because we’ve been facing these issues for years. The opportunity for bridging this gap is enormous, and we have the technical understanding and backgrounds necessary to make it happen.”
There is definitely a need for a combination of both these technologies to come together and create something to new to expand the current ecosystems on both ends. This project shows a lot of potential as the demand for it is something that exists on a large scale.
To know more visit:
Website: http://go.openmoney.digital/8n6t
Written by: dhavid
Bitcointalk Name: dhavid19
Bitcointalk Profile:https://bitcointalk.org/index.php?action=profile;u=1795848
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