(First published in November 2017 on Steemit: https://steemit.com/ico/@andreashauser/ico-review-kryptopy-a-new-steemit-etoro-and-much-more-on-the-blockchain-ceo-talking-at-conference-with-opening-speech-from-nasa)
- Introduction of Kryptopy
- A huge announcement
- Overview of the team
- Proof of Intelligence algorithm
- Data misuse concerns
- KPY Token & ICO overview
- Use AN222 when you buy to get a 50% bonus.
Kryptopy Social Media & Trading Platform
In this day and age where we have numerous different sites for one single purpose each, I can really see a need for a platform that aims to be more than just one thing. On Kryptopy you will earn Kryptopy tokens (KPY) when interacting and posting quality content. These tokens can be traded on exchanges, which means that you will now be able to earn money when you update your status or share pictures of that yummi vegan cake you just made.
Don’t try to spam, though, as the innovate Proof-of-Intelligence (PoI) algorithm — more on that later — will detect that and punish you for it, while those posting quality content will earn much more (good bye “I-follow-u,-u-follow-me” people).
On top of that, Kryptopy will also act as an exchange where you’ll be able to trade — and if you allow others on the platform to copy you, you will earn commissions based on their success as well! If you know about eToro, this might ring a bell.
Sounds too good to be true?
Screenshot from canadianfintechawards2017.org
Kryptopy was nominated in the Blockchain/Digital Currency or Distributed Ledger Tech Startup of the Year category at Canadian FinTech Awards in Toronto, which is held on November 27th 2017.
Nicolas shared this screenshot from his email account as proof
NASA is giving the opening speech, and the CEO of Kryptopy, Nicolas Cloutier, is speaking as well.
Guess I don’t have to tell you how huge this is.
(Nicolas shared this screenshot from his email account as proof)
And as you can see in the screenshot below and in this youtube video, they already have a demo of the platform that will be open for Beta testing in Q1 2018.
Screenshot from techbench
The Kryptopy Team
One of the most important things in any startup, even more important than the product itself, is the team. Where do they come from? Where lies their passion? Are they capable of putting action behind the vision? With 10 current dedicated team members, they definitely seem to be in the mindset of success.
Please find summaries of some of the team members below:
Meet the team:
- Nicolas Cloutier, CEO & Co-founder
Nicolas is a master of E-commerce consulting, php & python development, online business planning & deep web learning. He was President at Simusoft3D Productions, hiring and managing a team of 20 2D & 3D artists, programmers, and designers. Nicolas was also Senior Magento Consultant at Rexall and Senior E-commerce and Technology Consultant at Bell Media, and he is the former owner of Perfica3, an E-commerce agency that grew by more than 200% for three consecutive years under his ownership.
There is a lot to cover about Nicolas, so I definitly recommend checking out his LinkedIn profile.
He undoubtedly seems like the kind of guy who can instantly take your online bussiness from 0–100 km/h while being super friendly at the same time, and he breathes and exhales pure entrepreneurship.
- Cody McBryan, Executive Vice-President & Co-founder
Founded Kryptopy with Nicolas in 2017 and a strong believer in the advancement, adaptation, and adoption of cryptocurrencies and blockchain. Cody has a lot of experience in the automotive industry, having been Assistant Manager at Fountain Tire for 4 years.
He found the lack of a platform where you could trade, follow other successful traders’ moves, and learn more about cryptocurrencies in an environment tailored to it — so he decided to build it.
- Rob Bassini, CTO & Co-founder
Rob has worked as a senior developer and consultant for fortune 10 companies such as Blackberry and Research In Motion.
According to his Bio in the whitepaper, “Rob decided to join Kryptopy as VP Tech in 2017 and with his abilities and IT banking experience will be an invaluable asset to manage everything on the development aspect of Kryptopy.”
Big words coming from a capable CEO such as Nicolas Cloutier (assuming he wrote it).
- Francesco Galati, Senior Blockchain Advisor
CryptoCurrency Certification Consortium Certified Bitcoin Professional (CBP) — a certificate that proves in-depth knowledge of cryptocurrencies and blockchain, as well as the ability to apply blockchain techonology to his area of expertise while understanding all of its aspects, and he also helpts Kryptopy in many other business aspects.
Francesco also has a Master of Science (MSc.) degree in International Business from the University of Maastritcht, with a minor in Entrepreuneurship.
Self-employed artist and freelance translator.
- Richard Holmes, Senior Board Advisor
CEO and co-founder of Leading Locally Ltd, former Director of Successfull Internet Marketing Ltd, a company that builds and launches online marketplaces and platforms.
“Since 1993 Richard has operated as founder, board director and/or investor in e-commerce, IT, media and entertainment, including video games publishing, e-commerce marketplaces, video games development, third party software development, social network games, mobile games, internet services, promotions and online gaming.”
This says it all and Kryptopy is extremely fortunate to have such a talent and networker on their team.
- Dominick Miserandino, Senior Marketing Advisor
“I make businesses out of ideas. I monetize dreams and fix problems.”
Dominick founded TheCelebrityCafe.com in 1995 which grew to 8.5 million readers per month, and sold it 20 years later for several million USD. He has consulted the Wall Street Journal, Morgan Stanley, Hearst Publications, Scout, Nasa among others. Currently Dominick is the CEO of DyslexiMedia LLC, a successful consulting firm that has consulted the likes of Dow Jones and Digital First Media.
- David Kim, Advisor
Co-founder of and in charge of marketing and project management at Tri Synergy, a software publishing company. More than 20 years’ experience in financial services.
David has recently worked on several start-up ventures, including an online precious metals dealer for bitcoins and a bitcoin consulting firm — Blockchain Advisory.
Proof of Intelligence (PoI) Algorithm — a solution against spam & low quality content
Had to zoom a lot, hence the poor image quality
This scenario will be very relatable to Steemit users:
You’ve just spent countless hours engineering your 20th quality post in a week, sighing in relief that it’s finally done;
I can’t wait to publish this and have people read my ingenious thoughts on how the world should be run!!
You keep refreshing the page in the hope that some one will agree with you only to discover the following message:
Follow 4 follow
And another one.. and another one.. aaand… another one.
Spamming has no real consequence on Steemit, but with Proof of Intelligence, spamming like that will result in a much smaller payout — or even a ban if it gets severe enough.
I’ll quote the whitepaper directly here as it does a great job of explaining this:
“John posts: I really love cryptocurrency please share with me what your favorite ones are !
Alice replies: Oh I really love it too KPY is my favorite because of X Y Z
Jack replies: Yea me too
Gigi replies: Check this out http://www.somecryptosite.com/ you will like it
John will get for example 0.0005 KPY (or 5 mKPY) for initiating a positive post that includes an invitation to participate which will hopefully lead to more actions for the users on the network.
Alice gets 0.0002 KPY ( or 2 mKPY) for replying with something very pertinent and explaining why it is so in a positive way. She proves she has knowledge of the topic and she probably also owns the currency she is talking about (another criteria that will be checked).
Jack is relevant but doesn’t show any proof of his intelligence by posting such a short sentence; 3 words sentences like that are typically used by followers and — psychologically talking — do not show a lot of involvement. Such a comment would have no reward as it doesn’t bring or remove any value to the network.
Gigi is definitely looking like a “spammer”; maybe in all honesty she just wanted to share a link. If that’s the first time she does, she won’t be penalized, however she won’t be rewarded unless the link she did share is very relevant to the topic — which will also be determined by text analysis.
As mentioned earlier, this is a very simplistic example to show how the Proof of Intelligence algorithm is working with text analysis.“
In an interview Nicolas states that Gigi‘s penalty could come in the form of a ban, a warning, or just not receiving any KPY — depending on several parameters.
Imagine a social media that directly incentivizes honest, genuine, and considerate interactions. All this while keeping your data safe, which brings me to the next point.
The Data Problem
I know a few people and have close friends who do not want to use Facebook or Twitter for this reason alone. They don’t want there to be a million ads for accountant firms just because they typed the word to a friend, liked a specific page, or Googled it — and understandably so! You wouldn’t want a salesperson to interrupt you in real life whenever you mention certain keywords, so it’s no surprise that many people feel uncomfortable being monitored this way online.
Social media in general needs a new business model that doesn’t get 100% of its revenue from advertising, and Kryptopy might just have found the answer.
On Kryptopy, users are ensured the following:
- Complete privacy on user profiles and content.
- A bot-free (spam bots) environment.
- Free usage of the network by everyone.
- A private chat based on the blockchain.
Sounds like we’re finally getting a Facebook-like platform centered around cryptocurrencies with true freedom and privacy!
Kryptopy Token & ICO Info
KPY is only going to have a total supply of 40,000,000 of which only 35M will be publicly available and is an ERC20 token (Ethereum-based). Can you think of any current successful coin that also has a low supply..?
Kryptopy’s pre-ICO ends this Sunday, so you gotta be quick if you want a flat 32.5% bonus on your purchase.
If you want to get 50% instead and help fund the prize pool I’m setting up for the Kryptopy Support Group, please use the code “AN222” and join the group to stay updated.
There will be NO bonus at the ICO which starts Nov 15, so I highly recommend you getting those extra 50%.
Currently, you get 1 KPY per 0.005 Ethereum, or 200 KPY per Ethereum without bonusses.
They need a total of 5,000,000 KPY for development and only 5,000,000 tokens are available in the pre-ICO.
And here’s a snapshot of the fund allocation:
Screenshot from the whitepaper
SO! Should you invest?
Kryptopy, in my view, is one of the most important blockchain-based projects in the crypto space at the moment.
I mean, who wouldn’t want the exact same features as on Facebook + much more while GETTING PAID and having your privacy being protected on the blockchain??
With blockchain we’re experiencing a digital and financial revolution, and with Kryptopy I’m quite sure we will experience a revolution in online social communication.
Lastly I’ll share two numbers with you from the 2017 Global Cryptocurrency Benchmarket study, made in association with Visa and the University of Cambridge:
- The current number of unique active users of cryptocurrency wallets is estimated to be between 2.9 million and 5.9 million.
- About 1876 people are working full-time in the cryptocurrency industry.
What we can gather from these numbers is that he market is still incredibly small. Like, insanely small. To get a gist of the scale, Ireland’s population is just below 5 million.
So imagine what will happen to your investment when cryptocurrencies gain mainstream adoption — probably in less than 5 years. The popularity of crypto is increasing exponentially, and I think that a bet on a company like Kryptopy which aims to bring cryptocurrencies to the masses is a bet well placed.
Thank you for reading! I had a lot of fun researching this company and I hope this article helped you expand your knowledge as well.
Only invest what you can afford to lose!