Today’s advertisement industry is riddled with tremendous competition. Now, with the advent of blockchain technology, new opportunities have emerged for marketers. In order to revolutionize the advertisement industry by leveraging the blockchain technology, Switcoin is all set to introduce its location-based Social Media app.
This ICO aims to target the adoption issue prevalent in the cryptocurrencies while offering a long-term utility of its currency, Switcoin. A point worth noting here is that Switcoin plans to attract a large proportion of users through its social media application once its ICOs ends.
Switcoin: A cryptocurrency that increases in demand autonomously
An attractive element of opportunity here for investors is the intention behind developing the Switcoin ecosystem which is to acquire a larger user base for this currency at a rapid pace. At the initial stages of an ICO launch, usually, the user base is the primary concern of investors, which this project puts in its main focus.
When it comes to the Switcoin ecosystem, it involves firstly the cryptocurrency- Switcoin, their very own Proof-of-Authority blockchain, a social media app and a unique business model which is tied to its app enabling Switcoin’s value appreciation.
The blockchain of Switcoin is based on Go Ethereum Iceberg with a Proof-of-Authority (PoA) consensus algorithm which means “what can be done on Ethereum network, can also be done on Switcoin network.”
Switcoin Social Media App: An advanced & monetized platform
In comparison to other projects in the same industry, Switcoin is a valuable investment opportunity because of its various attributes involving:
According to Switcoin team, it is a completely new advertising opportunity with a 100 percent response rate. Moreover, its own blockchain enables faster and cheaper microtransactions while allowing you to manage your Switcoin wallets on your smartphone. Not to mention the fact that, the funds generated by its ecosystem will be used by Switcoin and invested back into this cryptocurrency only.
The Social Media App of the Switcoin plans to “help people become more socially active beings” by eliminating the issues inherent with the traditional social media platforms.
Explaining how exactly it works, the project describes:
“the Switcoin app enables people who live in the same region to arrange a non-binding 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. We allow people who have found each other through their similar interests to meet while the application defines a place according to their interests.”
However, the user can’t change the meeting location, only reschedule it. According to its business model, once both the parties reach on location, on scanning each other’s QR code, they receive Switcoins as rewards right in their wallets.
The continuous reward payments keep Switcoins in constant demand which can be met by buying them from a crypto exchange.
To know more about Switcoin: Visit https://switcoin.com/
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I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.