GeoFounders is a unique type of blockchain software that lets you switch between multiple blockchain networks. Read our GeoFounders review to learn more about the company and its ongoing ICO.
What Is GeoFounders ICO?
GeoFounders, found online at GeoFounders.com, is a collection of software available for desktop, mobile devices, and web browsers. The software runs decentralized applications (DApps) that run on top of popular blockchain platforms.
GeoFounders describes its technology as “custom-made middleware”.
The key feature of the GeoFounders software is that you can switch between different blockchain networks and, in some situations, operate on multiple blockchain networks simultaneously. That means GeoFounders customers can operate the software on their preferred network while appealing to a wide userbase of blockchain users.
In basic terms, developers can develop applications for GeoFounders. Those applications can then be used across multiple blockchains. So separate development for separate blockchains is no longer required.
GeoFounders launched its ICO on June 25, 2017. The platform generates fees through customer usage. The fees are collected into a distribution account. The account can be accessed at any time by anyone who holds GeoFounders tokens. The tokens are called GeoUnits (GUNS).
GUNS owners can collect their portion of earnings based on the percentage of GUNS they hold compared to the total fixed supply. You get to keep 90% of these earnings. The remaining 10% are reserved and cycled back into the development and marketing of future GeoFounders features and software.
Overall, the goal of GeoFounders is to make a useful and productive software suite that leverages the unique power of blockchain networks. The secondary goal is to promote the use of blockchain technology by making software that’s easy for mainstream markets and customers to use.
How Does GeoFounders Work?
The core technology behind the GeoFounders software is the middleware.
The middleware is designed to bridge the gap between users and the blockchains they’re using. Different blockchains use different communication standards. This can make things confusing and frustrating for customers.
The GeoFounders middleware acts as a bridge to translate responses and requests from the application while interacting with users in a common language.
The middleware will be available across desktop, mobile, and web platforms in the form of status bar applications, remote middleware nodes, and web browser plugins.
Essentially, GeoFounders middleware is a universal translation software that makes sense of the incoming data from different blockchains. It processes that data in a way that’s easy for users to understand. Then, users can issue commands and have those commands translated into the language of whatever blockchain they’re using.
What’s the point of this middleware? The goal is to make universal applications that can access multiple blockchains without the need for separate development paths. At first, the GeoFounders developers will be the ones developing these applications. In the future, however, they hope to attract third party developers to the platform.
Users can choose to use the middleware to run a separate node for a particular blockchain platform, while less technical users may choose to connect to a GeoFounders-hosted public remote node in order to save time. After they connect, users can operate the software as intended.
GeoFounders advertises the following core features:
Like other blockchain technologies, a collective consensus of nodes keeps the system secure. No government, corporation, or individual can alter your data.
Records cannot be altered retroactively without the alteration of all subsequent blocks and collusion of the network. Data added through the applications can be verified as authentic and untampered.
No Or Low Fees:
The GeoFounders software has transaction fees similar to what we see with other blockchain platforms. There are fees – but they’re a small fraction compared to what’s charged by banks and other financial organizations.
Obviously, the three features listed above are found on most blockchain technologies. Below, you’ll find an additional selection of features unique to GeoFounders:
GeoFounders applications has a store widget that makes it easy to download other applications. This is a decentralized app store.
“GeoWrap” works with many different types of blockchains, including Ethereum, Rootstock, Lisk, and more. The software acts as a bridge between clients and the blockchain.
GeoFounders will translate their software into 25 languages.
Optional Remote Nodes:
Mobile and non-technical individuals can use proxy nodes hosted by GeoFounders. That means the software can connect to the blockchain in seconds (if you trust the GeoFounders servers).
GeoFounders is “casting a wide net and equally dividing software creation ambitions across the enterprise, professional and consumer spaces.” The company believes blockchain will create a change as significant as the early 1990s and the emergence of the internet. So far, here are some of the applications developed for GeoFounders:
Fantasy adventure game with role-playing elements. Players may be able to use the blockchain to “own” digital locations in-game.
Multi-blockchain wallet with financial tools.
Complete digital publishing ecosystem. With PubLub, writers from around the world can self-publish their work and accept cryptocurrency payments for their work. They can also license their canon for royalties to approved writers, or do things like charge per page.
Business communication platform that works as an enhanced email platform. It’s similar to Outlook, but based on the blockchain to enjoy enhanced security and decentralization.
GeoJournalist is a blockchain-based word processor that lets users store immutable in-app writing and upload documents. There’s also enhanced encryption and decryption and authenticity mechanisms in place.
This is a file storage system based on the blockchain. You can also view webpages hosted on the blockchain, or listen to music (like MP3 and WAV files).
Willmorrow is a trading card game built on the blockchain. Players navigate a fantasy world while battling with cards in one-on-one contests.
These applications will be marketed through the application store, and through traditional marketing methods online. All of the applications are expected to launch between September 2017 and January 2018.
GeoFounders Tokens And The ICO
The GeoFounders ICO launched on June 25 and is scheduled to last until July 25.
The ICO will see the launch of GeoUnits (GUNS) tokens. The tokens serve multiple purposes. They act as a virtual stake (you earn a cut of the revenue created by the GeoFounders software catalog). For every GUNS token you hold, you receive 0.0000009% of the revenue generated by all GeoFounders software.
The second purpose of GUNS tokens is to act as a verification mechanism within the different GeoFounders applications. Authentication can be used to name an in-game location in the fantasy game GeoRealms, for example.
The token is an ERC20 compatible token. You can purchase GUNS tokens using Ether.
GeoFounders has a separate blockchain platform called Moonshine that’s currently under development. The platform is scheduled to launch in Q4 2018.
It’s a Proof of Stake (PoS) blockchain that borrows heavily from the Ethereum Virtual Machine (EVM). The Moonshine blockchain will use tokens called “shine”.
Why is GeoFounders developing its own separate blockchain? The blockchain is being developed as a test network and alternative platform for GeoFounders applications.
Who’s Behind GeoFounders?
GeoFounders is led by Edward Shull (Business & Marketing), Shaun Shull (Lead Programmer), and Michael Shull (Programming & Marketing).
Edward has previously worked in finance while operating a boutique web consultancy. Shaun is a senior programmer with over 20 years of experience. And Michael is a software programmer and web developer. All three have previously worked for USWeb, a family-run company. GeoFounders is run by Edward, his son Michael, and his nephew Shaun.
GeoFounders LLC was incorporated in May 2017 in Nevada. You can contact the company by email at [email protected]
GeoFounders is a unique software platform that aims to make it easy to interact with all different types of blockchains – including Ethereum, Rootstock, and more. Instead of developing applications for each individual blockchain, developers can use GeoFounders as a “middleman”.
GeoFounders does all of the heavy lifting in terms of communication with the blockchain, while developers focus on developing applications for a single, unified platform.
GeoFounders is an ambitious project that plans to release multiple applications over the coming months – including a full blockchain release before the end of 2018. The GeoFounders ICO lasts from June 25 to July 25. Stay tuned for more information.