Indorse was launched in Singapore in May 2017, by David Moskowitz as the Founder and CEO with Gaurang Torvekar as the Co-Founder. Indorse team was under Indorse Pte. Ltd, based in Singapore.
Between David and Gaurang were also as a founders at Attores Pte. Ltd, a company in Singapore which is also focused on deployment and execution of smart contract on blockchain’s environment. No more surprise, if their project at this time at Indorse was also remain associated with blockchain technology.
Social media platform, commonly offering its users how to be able to communicate with other. What we were saw the new popular pattern now is, social media will create the new path for user to earn social currency as well.
An interesting article on Nasdaq, write about an intersection between social media and the blockchain. The fact is, blockchain have a lot of benefit, including social media platform. Social media network that based on blockchain technology comes up as a new breed.
Indorse Different With Earlier Social Network Platform
Yes, there are already some project that also build based on the spirit to disrupt social network which is also integrated with the crypto world and blockchain technology, such as Steemit and Synereo.
If we trying to looking at Steemit for example, focussing the segment into how to decentralizing valuable blogging post content, and make a possibility for the content creator to get rewarded based on the quality post being rewarded by the readers. And what Synereo creates, it’s also quite different. Since Synereo trying to disrupt multimedia content on existing social media network platform, such as Youtube, SoundCloud and others.
So here is Indorse which is also taking part in different segment also, since Indorse design platform can be likened to a combination of a decentralized Linkedln and Instagram. What make is also different with both of them is, because Indorse using “verified” claims and indorsements.
Just hold on a second, it doesn’t stop here, because Indorse bring lot of valuable concept they offered. Let’s take a look at Indorse design and concept.
- Giving back the power of ownership of users data
Personal data and privacy are becomes common issues regarding how those information loaded at the surface. At the most common social network, between ownership of personal information and commercials aspect related with the information must be fixed once and for all. This is the main purposed of Indorse platform.
- Trying to solve several problem in centralized social media platform
For example, in the case of a valuable qualification based on a knowledge requirement related to what they have studied before it wasn’t true anymore. What the most people had seen is at some individual employed positions with little relation to what they had studied in college. Based on this condition, Indorse believe that skills qualification was much acquired.
The second is try to bring it live of the crowd economic by using ethereum ecosystem as a new economic models. With decentralized model, user not only able to utilize the services or shares thought only, but creates cycle of growth and opportunity as well.
- Bring it lives of the crowd economic
Indorse believe for the ethereum ecosystem has become the new economic models.
- Using Integration with some third-parth (D)apps to increase Indorse Core features
- Indorse DE: will taking part to build a deployment engine (DE) for creating profile and content, continuing buy tying it back into the token and ethereum smart contract.
- Attores Certificate Issuence (CI) Platform: A university or institution will be able to issuing their degree or diplomas digital certifications directly on the blockchain by using smart contract.
- IPFS: as a decentralized “dropbox”, being used into the form of Indorse core platform. So this is next when the content related to some document, claim, profile update or other would be stored as well into decentralized kind of dropbox. As we can see here, will enrich Indorse platform to fully decentralized platform regarding on all its features.
- uPort: will taking part to be self-sovereign identity system. So it will allow people to identify themselves, and then getting authenticate it on both off the blockchain. By using this feature, Indorse will make the user of the platform will be correspondent with their real identity. The best part of using uPort features is that it will be useful to signing the blockchain transaction directly just by a mobile.
- Spectrum: is an all in one kind of wallet system, based on ethereum development by Digix. The features will be integrated in Indorse platform to make easy way for its users, and also how to increase the security into Indorse platform.
- Status: of course, since Indorse was also will be a social network platform that would be similar as the combination between Linkedln and Instagram, so it will necessary to adding the features about messaging platform that able to run on mobile, having capability to interact with decentralized apps surround of ethereum network. That is why open source messaging platform, Status, has chosen. The best part is, that on the next phase development, Indorse will try to release integration status to become chatting platform that able to run on the blockchain. As the main concept to fully keep as a decentralize design platform, so Indorse will also build the features to completely serverless. What will making sense of it is, since Indorse will uses some kind of service layer plus the API layer. For sure, all the description features here will make us too kept on eyes on the Indorse platform and its development.
- Anonymous Indorsement Protocol (AIP)
The feature will allow user to makes a claim. So user would have two option of indorsements, choosing to use random indorsement or just to get his claim verified from an influencer on the platform. It will be easily work since Indorse will used SCR token or Indorse reward inside the platform. Indorse will use two kind token to make the whole platform running smooth.
- Indorse Token (IND)
IND token is the token that will be issued during the crowdsale. At these phase the token purchasers will also receive Indorse Score (SCR) token as an addition to IND token. IND token here was the main token that will be tradable on the exchange. Both of IND and SCR token was created based on ERC20 platform.
- Indorse Score (SCR) Token
This token will be known as a “token” by Indorse users, since the token will be using to run the system process. User will used SCR token to be able to post update profile, make indorsement, or to give a flag claims. What the user to keep attention on this part is, that user might not be aware that they are a token. SCR token will be as a primarily accounting token, since SCR token will keep track the user reputation.
- Oracle prediction Market available
Indorse platform will also possible to feed into existing prediction market just like Gnosis or Augur. What do we see as the whole Indorse system above was also consider as a prediction market.
- Supporting Application Layer
As it mentioned earlier that Indorse will keep the whole environment serverless, so Indorse will use application layer that fully support to be accessible whether from a mobile or web app.
Token Crowdsale Available
As the whole explanation above, Indorse platform is a valuable project. As we able to see the team behind Indorse, how Indorse concept, what make the platform valuable from its features, and of course potentials market as the project running.