Switcoin ICO Review
|1 SWIT = 0.01 USD
Switcoin is an utility token with its own blockchain that increases its demand autonomously by matching users with similar interests through a social media app and monetizing their meetings.
Switcoin offers completely new advertising opportunities with a response rate of 100%. The money generated by its ecosystem will be invested into Switcoin cryptocurrency.
Switcoin will enable cheap and fast microtransactions due to its own blockchain based on Go Ethereum Iceberg with a Proof-of-Authority consensus algorithm.
Switcoin is revolutionizing the advertisement industry via its location-based Social Media App and its advertisement network.
The past has shown that the biggest problems for cryptocurrencies are the mass adoption and utility of the currency. Since every ICO only ever has a relatively small number of participants we are attempting to solve these problems via our social media mobile application and hereby attracting users for our currency after the ICO has ended.
They developed the Switcoin ecosystem for the mass market. It consist of :
Switcoin, the cryptocurrency of our ecosystem, a social media app for daily usage ,a business model that enables value appreciation of the Switcoin cryptocurrency, our own blockchain based on the Proof-of-Authority consensus algorithm from Ethereum for fast and cheap transactions with energy efficiency in mind
Keypoints of difference for Switcoin
include the following: Switcoin offers completely new advertising pportunities with response rate of 100%, Switcoin will have a real money
feeling that Bitcoin lacks, Switcoin wallets can be easily managed on a smart phone, Switcoin uses the money generated by its ecosystem and invests it into the Switcoin cryptocurrency , Switcoin has a single-minded team behind it, with a clear focus and vision to implement its sustainable business model with its own ecosystem.
Their social media app is focusing on solving the problems of the traditional social media platforms. The current social media companies enable remote interaction without any personal contact. They at Switcoin are deliberately trying to change this. They believe that we need to go against the trend and build empowering technology that helps people become more socially active beings.
The Switcoin app enables people who live in the same region to arrange a nonbinding meeting at a neutral location. The way this works is that people are able to describe themselves via hashtags and can then be found by other people near them who search for these hashtags. They allow people who have found each other through their similar interests to meet while the application defines a place according to their interests. The users are only able to reschedule the meeting but are not able to change the meeting location since there is no option to contact each other outside of the app.
|March 2015: Alessandro Holik
showed interest in Bitcoin
for the first time.
June 2015 : Herbert Holik bought
his first Antminer S5 and
started mining Bitcoins
and discussing the idea of
our own cryptocurrency.
June 2016: Bitcoin has nearly tripled its value
since Herbert and Alessandro
Holik first considered to create a
July 2016: Forming the team
to create our own
December 2016: Establishment of a scope
statement and distribution
of tasks and responsibilities.
January 2017: Our first GPU
miner for Ether
March – August 2017: Investing small amounts
in 3 different ICOs to
observe the DOs and
DON‘Ts of an ICO .
July 2017: Extension of the scope statement
and making decisions regarding
the Ethereum Blockchain.
September 2017: Creation of an iOS prototype of
the Switcoin social media app
including basic functionality.
December 2017: Finishing white paper and
starting the preparation for
February 2018: Decision to create own blockchain for the
Switcoin ecosystem based on the Proof
of Authorithy algorithm of Ethereum.