Imagine you sit in a cafe and see a wonderful art-house picture on the wall. You want to have it right now! But who is an author? Where can you buy it from? What is its price? Who can answer all these questions? Scanetchain (a cryptocurrency startup from Singapore) can.
What is Scanetchain?
In the simplest words, Scanetchain is a mobile application, powered by the Augmented Reality (AG) technology to scan 2D (brand logos, signs, billboards, etc) and 3D objects (physical things) and provide all matching information about them. The solution is meant to change the way:
- Businesses advertise to their customers;
- People do shopping;
- Users interact with different types of content and social networks.
This platform presents an AG decentralized open market application for selling/buying goods or content. Scanetchain is intended to unite advertising, commerce, social networks, and contents on a single ecosystem that is formed by the symbiosis of multiple platforms.
Scanetchain will utilize NEM blockchain protocol because such a protocol offers the most optimal transaction rates in the industry and allows blockchains which are built upon it to expand smoothly and effectively without compromising the security and transparency (as stated in their whitepaper).
Scanetchain is a social dapp service on the blockchain bringing together advertisements. But it’s OK if you consider it a scanning application – just an advanced one, beefed up with the Artificial Intelligence, Blockchain, and Augmented Reality technologies. And it will always try to sell what you have just scanned. But you as a consumer will not buy an item until you know every detail about it, right? And Scanetchain will provide you with such information to empower your buying decision.
Some use cases
This platform combines the Augmented Reality and cryptocurrency technologies to produce a solution for the blockchain commercialization. When installed on your mobile device (can be downloaded from Google Play Store), the program allows you to scan and digitally identify all objects captured by the camera, both online and offline.
According to Scanetchain’s vision, all objects of both worlds (physical and virtual) will have scannable markers, which users can scan with their mobile device cameras and immediately access the paired blockchain online platform. AR content gets delivered through data streams from the cloud server. The Proof-of-Activity algorithm is responsible for distribution of compensation among users basing on their contribution activity across commercial, content distribution, and social networking components of Scanetchain’s ecosystem.
Having Scanetchain, you can scan advertisements with your camera and earn crypto tokens as a reward for watching advertising contents. These tokens can then be spent on products/services advertised or on the paid subscriptions available on the Scanetchain platform.
Their application for Android is ready for use. You can download it and try Scanetchain by yourself.
Tokenomics
So, users earn crypto for performing versatile activities on the platform. These include:
- Searching and scanning AG objects with smartphone cameras through the Scanetchain dapp.
- Uploading, editing, liking, reviewing, commenting, and sharing in the Scanetchain social network.
- Watching ads, buying products and reporting illegal/harmful markers.
The platform itself is fueled with the SWC Token (an abbreviation from Scanet World Coin). It is an ERC-20 standard token used as a payment and compensation unit within the ecosystem. There will be an exchange counter within the platform, as well, to convert other cryptos into SWCs.
Final thoughts
Scanetchain leverages the Augmented Reality technology to offer a decentralized platform for blockchain commercialization. Essentially, it is an advertising network bringing consumers, sellers, distributors, and content providers under one roof. Driven by the NEM blockchain protocol, this solution allows users to scan virtual and real objects with their smartphone cameras and instantly receive exhaustive information about them.
In a nutshell, it is meant for searching, advertising, and selling. The application also allows you to earn some crypto simply by using Scanetchain dapp and performing everyday activities like ad watching, content sharing, and more. Giving the fact that the Augmented Reality technology is on the rise, Scanetchain has all chances to succeed.