With every policy shift, every deplatforming, and every data breach, our faith in Big Tech decreases. In Washington, the drums of anti-trust beat ever louder.
But what consumers truly want isn’t necessarily a break up of today’s tech companies: they want alternatives. Alternative approaches to data that prioritize privacy and consumer control. Alternative business models that allow people to collaborate together in new ways and leverage their data as an asset.
Storecoin is a zero fee payments and peer-to-peer cloud computing blockchain that will enable such an alternative by helping transform data into money. Here’s how it works.
The Storecoin project starts with a zero-fee settlement layer. At the heart of this is Blockfin, our leaderless, Byzantine Fault-Tolerant (BFT) consensus algorithm that solves for scalability and decentralization. Thanks to Blockfin and a credibly low inflation policy, $STORE functions as a sound money for the entire Storecoin ecosystem.
As security with scalability is proven, Storecoin will open up miner (or, as we call them “dWorker’s”) participation to anyone in the world. From there, the secure settlement layer can evolve into a p2p cloud platform for the decentralization of data and the creation of new, zero-fee tokenized apps (tApps).
In short, we believe that many applications want to experiment with their own native tokens to incentivize work and other activities, to coordinate their groups, and to experiment with as yet undreamed of use cases.
The problem with the first generation of ICO tokens is that they are simply payment tokens, which is a bad substitute for money unbacked by anything but speculative belief.
Application developers in the Storecoin ecosystem can only issue tokens that are backed by the data their application produces, giving them intrinsic value based on the demand that third parties have for that data. Because data is the oil of the new economy, this creates an opportunity for the dWorkers in the Storecoin ecosystem to get rewarded for servicing and securing the network of applications, while providing a more profitable hosting solution for app developers than today’s centralized alternatives like AWS.
What’s more, this tokenization of data creates new opportunities to address consumer concerns like never before. First, enterprising developers who want to offer something different might take advantage of data tokenization to help cut consumers in to their business models, finding new alignment and synergy with their users. Even if users aren’t being paid for their data, per se, tokenization makes data much more trackable and transparent, giving users new insight into how their data is being used and providing them more power to fight against what they don’t like.
Underpinning this all is a shared security network where the miners or dWorkers of the Storecoin system ensure that the entire network is protected from malicious attack.
For Storecoin, it is imperative that this new data paradigm doesn’t simply replace one intermediary with another, however. That’s why the entire project will be governed through a system that enshrines checks and balances and the separation of powers. Our governance system makes it impossible for any one group – developers, miners, or the nonprofit foundation – to warp the system to benefit them above the others.
Announcing the Next Storecoin Milestone Token Offering
Storecoin is launching its long-awaited Milestone Token Offering on Thursday, June 20th at 12pm PT. This Regulation D and Regulation S securities offering aims to bring in over 500 new wallets and up to $4.97 Million of Treasury into the project.
Since inception, Storecoin has taken a strong anti-ICO stance and instead has committed to growing Treasury on the basis of achieving key project milestones. These global MTOs focus Storecoin on transparent project execution while building long-term trust with its growing community.
The sale will be offered as a sequence of three phased pricing rounds. Each sale phase will be offered on a first-registered and first-funded basis. Once a phase is fully registered and funded, the next phase will open up and be offered to the next registered buyer.
The proceeds from this sale will be used for a number of vital project building activities, including:
- Releasing the alpha network for BlockFin, our parallel and pipelined consensus engine
- Multiple security audits for our BlockFin BFT consensus algorithm
- Begin hosting STORE meet-ups around the world
- Releasing our Governance, Economics, and Security Papers for public peer review
- Hosting the first-ever Storecoin Conference, a research and governance global gathering
Existing Storecoin investors include Ari Paul of BlockTower, Anthony Pompliano, Matt Ocko, AlphaBit Fund, Ari Nazir of Neural Capital, and more.
Register for the sale at: http://sale.storecoin.com.