With many benefits from the internet makes internet users increasingly from day to day, with the aim of using the internet from various users. the internet can be accessed via laptop or smartphone. But everyone can’t enjoy the services provided by the internet, because it takes the cost to get the mobile data used to be able to access the internet, so the use of the internet is still not evenly distributed to all people and can only be used people who have the funds and can afford to buy mobile data.
This problem will be solved by SOCIFI that have mission to unlock the potential of free sponsored data and to help to create an open, transparent and fair marketplace. Sponsored Data can have a significant positive influence on economic growth, education and communication in human lives in both developed and developing markets, for consumers, small companies and large and corporate companies alike.
What is SOCIFI ?
SOCIFI is a well-established operating sponsored data marketplace. Since 2014, we have provided WiFi connection in over 67 countries. We have proven that data can be sponsored by big brands such as Coca-Cola, Pepsi, Fanta, Microsoft, Uber as well as local brands. More than 51 million end-users enjoyed free data thanks to our solution. Users interact with the sponsored content via the SOCIFI Engagement Solution (SES) application and SDK library.
The Basic Flow Of The Reward Mechanism
SOCIFI will issue 5,000,000,000 GIF tokens, 61% of which will be offered to the ICO participants. All the proceeds from this public contribution will be used for business expansion only.
Using blockchain for all transactions, SOCIFI will lower the operational costs, increase the speed of transactions, creates open transparent and fair marketplace, democratizes value distribution and narrow the relationship between advertisers, network providers and subscribers. The GIF tokens will be the platform’s currency of choice.
The Unique Advantages of SOCIFI:
- Established company with real results and traction
- Over 10 years of Media & Telco market experience
- Working product focused on user’s engagement (SES)
- Strong software development skills
- In-house Senior R&D Team
- In-house Senior UI/UX Design Team
- In-house Senior Sales Team
- Experienced venture capital advisers
- Partnership with TATA Communications
- Influential clients
- First mover advantage in utilizing blockchain for Sponsored Data
SOCIFI Solution And The Role Of A Public Ledger
Similarly to Facebook, and their project Internet.org, SOCIFI also believe that everyone should be able to access the internet regardless of personal wealth. Personal data and attention have measurable value in the 21st century. The SOCIFI platform allows everyone to pay for their data with their attention time.
SOCIFI subscribers engage with sponsored content, and in return they earn the GIF tokens. One of the functions of the GIF token will be purchasing mobile data through SOCIFI platform. Alternatively, the user can also choose the purchase services and products via SOCIFI marketplace. On the other hand, the same GIF tokens will be used for buying media space from advertisers (sponsors). Thus, it is required to:
- Have a marketplace with a fair revenue split distribution between advertisers and publishers without a middle-man.
- Have a strategy for staying competitive with major ad marketplaces such as Facebook, Google.
To meet the first condition, the online market is developed for advertisers (sponsors) to connect with publishers – Mobile Network Operators (MNO) or other players.
GIF Token and Token Sale
SOCIFI devises a creation of a new cryptocurrency GIF (the name is derived from data/rewards GIFting) and plans to connect it to its existing ecosystems by integrating GIF into the SOCIFI Engagement Solution (SES) Marketplace. SES is a solution for providing sponsored data and a marketplace for publishers and sponsors (advertisers), and GIF will be its primary and preferred currency.
Subscribers earn GIF when engaged with sponsored content, and this new digital currency is then used for buying sponsored data or other sponsored products or services on one side and for buying media space on the other side. This gives the new currency its fundamental value and helps to establish an economy around the sponsored data community.
GIF stands in the middle of the SES digital economy, enhancing enquiries for sponsored content and escalating its value. The new digital economy is boosted by the SES Reward Engine, catapulting the system above the average and creating demand for daily life.
Every transaction and advertisement spent will be transparent, auditable and fully secured. SES will be initially administered by SOCIFI. According to the RoadMap, in Q1 2019, SES will become decentralized on blockchain smart contract technology. Such development will be achieved if ethereum blockchain will be capable of transacting the amount of requests (e.g. thru sharding).
A total of 5,000,000,000 GIF Tokens will be issued. Of those, 61% will be sold in the ICO and 39% will remain with SOCIFI. The goal of the ICO is to raise 47,900,846 USD. Investors will receive 5,462 GIF for every 100 USD invested. For different stages of the ICO, a Stage Discount system is applied, and a Quantity Bonus system is applied.