We would like to introduce you to the world’s first decentralized Initial Coin Offering,
Blocnation, which will utilize the BNTN token. The Blocnation dICO will begin on May 3rd at
12:00 AM Eastern U.S. time The aim of Blocnation is to the be the future of digital payment
processing.
Their exclusive roll-out partner is PouchNATION, who is the largest cashless payment system in
Southeast Asia and have organized digital payments for events up to 150,000 people.
PouchNATION has offices in six countries in the region and just last month had over 2 million
dollars in transactional volume at their events and venues. The events and venues that
PouchNATION’s NFC, attached at-the-wrist payment system, has been utilized for are concerts,
museum tours, and hostels, to name a few. In addition to this, Forbes Vietnam and Pouchnation
have agreed to utilize Pouchnation’s payment system at all of Forbes Vietnam’s business events
for the rest of 2018 and 2019. BNTN token will be a payment method available for all of those
Forbes business events as well. This will be an excellent opportunity to market their cashless
payment product along with the BNTN token to an international audience while also introducing
a real-world use case for cryptocurrency.
Having PouchNATION as an exclusive rollout partner will put Blocnation in a prime position to
provide its users with alternative and more efficient methods of payments. To put things in
perspective, PouchNATION’s Chief Marketing Officer (CMO) stepped down from his role to
become the CEO of Blocnation. These companies, although separate entities, will be using the
same Near Field Communication (NFC) technology in their wristbands (payment tool) and
coordinated marketing strategies to capitalize on their market leadership in cashless payments in
the region.
To understand the product more thoroughly, a few of our team members were allowed to
preview the product at an event just this month. Essentially, it is as simple as loading your offline
watch or bracelet (payment devices) with a predetermined amount that can be paid for via over-
the-counter, credit, or BNTN token. The device does not require wifi to be used, either. From
there one simply operates as they would at the event or venue they are attending. When an
individual utilizing the Pouch/Blocnation service wants to purchase something, they approach any
of the kiosks available for check-out. You then let the attendee know what you want and then
briefly slide your bracelet or watch over the screen presented to deduct the amount of your
purchase from your total balance.
From a technical perspective, BNTN makes complete sense for both companies involved. The
Blocnation multi-currency mobile wallet runs on any phone and serves three primary functions. It
will allow for seamless cryptocurrency transfer through atomic swaps, can be used as a digital
currency across the entire venue ecosystem, and will provide crypto assets to those unserved by
traditional banking systems. More than 70% of the population in Southeast Asia do not have
access to conventional banking which makes it extremely difficult for them to be participants in
the regional entertainment options. Although traditional banking has made it very difficult for
people from this area of the world to participate, the millennial population, from Southeast Asia,
spends the most amount of time ‘online’ compared to rest of the world. They will have access to
resources that can explain digital currency and technology needed to acquire them. Now, by
utilizing the venues and events supported by Blocnation, they will finally have a real purpose in
using crypto as a payment method.
In terms of investing in the dICO for Blocnation that begins on May 3rd, there will be no pre-
sale or bonus rounds. There will be a 25% bonus to those contributing to the ICO with Komodo
(KMD) via atomic swaps. This being the first dICO ever to occur, we understand there might be
some confusion in the technology behind it or how even to participate. First, let’s explain the
advantages of a dICO. If you choose to invest with Komodo, you will be utilizing the zk-snark
privacy technology which will keep an individual's participation in Blocnation completely
anonymous.
The way a dICO works is that funds will be pooled together in batches so the Blocnation and
Komodo team will not reward specific addresses with BNTN token, which means they will never
know who participated in the dICO. Essentially there is no KYC because the team will have no
way of knowing where the funding came from on an individual scale. Another perk of the dICO is
that it is released in multiple batches so that whales can not buy up the entire coin before others
have a chance. For a more comprehensive explanation along with a step-by-step guide on how
to participate, please see attached links below.
Cryptocurrencies, thus far, have garnered a lot of their mainstream attention because of the
promise of returns for investors. There haven’t been enough companies who have been
successful in integrating the use of cryptocurrency into their already existing client base or
product. Even more so, we have witnessed far too many ICO’s take place with no existing
product or client base at the company’s disposal. By not allowing egregious token sale bonuses
and instituting a technology that gives everyone a chance to participate with privacy, it should be
clear why we support the crowd-funding method chosen by Blocnation. For us, it seems that
Blocnation is poised to bring cryptocurrencies use to the mainstream due to their current market
position and by using the popularity of the entertainment sector to allow BNTN token to be
widely known and used.
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