Creating a new civilization of Mutual aid with Gift Economy
Since successfully leading BOScoin ICO in May 2017, I have been designing another Cryptocurrency that will succeed long term with high quality and developed one that will solve the issue of ‘the rich get richer and the poor get poorer’.
That is the Pixel™ Program of The Color Platform™, expected to launch in September 2018. Color Platform aims to be the App Store of Blockchain and is being developed as the best performance among 3rd generation Cryptocurrencies.
Bitcoin and Ethereum mining process operate by PoW (Proof of Work) and additionally issues a new Cryptocurrency which in turn makes the rich get richer. Eventually, mining Bitcoin is overtaken by 32-years-old young Chinese Wu Jihan and his associate pools as they are mining more than 50% of all. Currently, 3 Chinese groups are mining more than 80% of what’s left to mine. As for Ethereum, Vitalik buterin, 24-year-old Canadian, and 3 of his associate pools are mining more than 60% of what’s left.
EOS, Cardano and NEO tried to solve the issue and adopted PoS (Proof of Stake) type of mining but it exacerbates the ‘the rich get richer and the poor get poorer’ since large stake holders will receive more coins.
As a way of issuing additional COL, the Color Platform aims the fair distribution of wealth by allocating 70% of tokens with Treasury, Airdrop and Pixel™. The remaining 30% will be allotted to Council members who make decisions and System support team that operates the servers contributing to the system operation.
Introduction to the Pixel Program
(1) 5 pixels will be generated everyday to a Pixel app with a KYC verified user who meets certain criteria (for example,
someone who owns 100 COL+recommended one person last month)
(2) The pixels will become a void unless its sent to others within 24 hours and 5 pixels will be generated again after 24 hours.
(3) Pixels received from others can be exchanged to Color Coins (COL) every week on Pixel app.
(4) Maximum 5 pixels can be sent to a single App wallet per week.
(5) Weekly exchange rate of Pixel to COL is based on the ratio of pixels received by individual Pixel app in a week to total pixels received by all users Pixel apps. Multiply the value by weekly issuance of 200,000COL (decrease by 5% every week for 52 weeks) in order to calculate the number of Pixels one may receive a week.
Here are the examples of how Pixels may be utilized.
(1) A university campaign is spreading to help student who is hospitalized due to accident. Students create an app and (2) send Pixels to help the student to pay for the hospital.
(3) A movement in Laos is spreading to help flood victims. People make an app and send Pixels to support.
(4) Popular singer’s fan club use Pixels to send gifts
(5) Religious organizations use Pixels to fundraise donations of building.
(6) Give Pixels as a gift to a friend who would like to thank for or wants to get attention from.
(7) Send Pixels as in return to a blogger who posted helpful contents.
(8) Send Pixels as a way of showing interest, such as ‘Like’ on Facebook.
(9)Services like AfreecaTV, where VJ receives Star Balloons that is like Pixels, will increase.
(10)Pixel receiving games will be developed.
(11) Grandmother and her granddaughter bonds through sending Pixels to each other.
(12) Seven people make a meeting and exchange Pixels with one another five times a day. There may be side effects in this case, but there are also positive functions. If this becomes known, many new subscribers will come in and eventually they will use other functions.
Let’s think of what will happen when Pixel Program is activated.
(1)2Cryptocurrency wallet will be utilized. While existing Cryptocurrency wallet or app is rarely used in daily life, Pixels will activate other dApps on the Color Platform as users have to open their apps to send Pixels. In other words, the ratio of active users who own COL will rise.
(2)The increase in new users will be rapid. Since sending Pixels requires the other party to install a Color Pixel App, the tendency to invite others to join the App will be greater than that of other Cryptocurrencies. New user growth rate has a compound exponential attribute that will explode after passing the tipping point.
(3) A culture of mutual assistance and cooperation will spread. It feels good to receive Pixels. One needs to win favor of others to receive a lot of Pixels. Those who do good to others, those who are in trouble because of misfortune, and those who are respected will receive more Pixels. Therefore, a civilization that is full of dignity and philanthropy will spread.
The Pixel™ program of the Color Platform is a model that I have experimented at FinTech Company Finger, which was established in 2000 and succeeded by CEO Minsoo Park. When 100 employees received three seeds a day and send them as a gift, the seeds became ‘fruits’. Employees earned bonus based on the number of fruits accumulated for a month. When the model had a great effect, it was patented, adopted by MyCredit Chain, and applied to the Color Platform.
The Color Platform's Pixel™ program will not only address the problem of the rich get richer and the poor get poorer, but will also increase the rate of proliferation and active users exponentially. The Gini coefficient will be dramatically lowered compared to the majority of Cryptocurrencies.
Global Cryptocurrency Color will spread rapidly with Pixel™program, giving every human being a chance and providing relatively greater benefits for the poor. Hopefully, by playing a crucial role in the international success of Color, it will contribute to creating a new civilization full of happiness and abundance. (To be continued)