A new social video application designed to foster genuine relationships has diversified its partnerships within the blockchain sector.
The social video application, established in 2017 and based in Mauritius, has secured two strategic investors as it prepares for its pre-sale. These investors are LBank, a specialised digital exchange, and DAEX Blockchain Group, known for its ‘distributed digital asset clearing ecosystem.’
This development is aimed at enhancing the app’s security, trustworthiness, and transparency. The implementation of blockchain technology ensures the ‘proof of existence’ of its users. Further, the company is working on a new digital identity standard referred to as ‘Digital DNA.’
Within the app’s community, users will validate each other’s identities by providing reviews based on the accuracy of personal information. This peer validation process intends to bolster security, reliability, and transparency.
The app is set to launch its Minimum Viable Product (MVP) in the final quarter of 2018, coinciding with an Initial Coin Offering (ICO). The MVP will feature a ‘freemium’ model, allowing users access to basic functions at no cost. Enhanced functionalities will be available in exchange for cryptocurrency tokens.
Following the MVP launch, the app will be upgraded with additional features in response to community growth. ‘We are delighted to welcome two new investors who have extensive industry knowledge and expertise,’ said Jean-Baptiste Fort, co-founder and CEO. ‘The partnerships and investments will strengthen our position and help us execute our launch of the app and growth strategy for the business.’
The video application is poised to make significant strides in the digital space by leveraging blockchain technology and strategic partnerships to enhance user security and experience.