Goodomy ICO: GOOD Cryptocurrency Token & Shopomy App?

Goodomy, found online at Goodomy.com, wants to help free you from banks, credit cards, interest rates, and fees. Find out how they plan to do that today in our review.

What Is Goodomy?

Goodomy is an existing cryptocurrency (listed under the symbol GOOD) that aims to create a new digital currency for everyone.

The cryptocurrency wants to help users free their money, allowing them to avoid banks, credit cards, interest rates, fees, and more.

The project was first announced back in June 2017. As of March 2018, Goodomy (GOOD) tokens have a market cap of approximately $3 million USD, placing them at around #650 on the list of the top cryptocurrencies according to CoinMarketCap. There’s a circulating supply of 457,350,000 GOOD out of a total supply of 888,000,000, with a current price of around $0.006 per GOOD. The price of GOOD hit an all time high of approximately $0.01 back in January 2018 before settling to its current level.

Goodomy claims to be releasing “a revolutionary new app” on May 24, 2018. However, it’s not clear what that app will accomplish.

What makes Goodomy different from the hundreds of other cryptocurrencies available today? Let’s take a closer look at how it works.

How Does Goodomy GOOD Cryptocurrency Token Work?

Goodomy claims to be “good money” – hence the name. The GOOD token is an ERC20 token on the Ethereum blockchain. The token is not mined. ERC20 tokens are deployed from the Goodomy smart contract.

Goodomy describes itself as “the first implementation of the ‘social blockchain’ network topology”, claiming the platform “makes it easy for anyone to take advantage of blockchain technology.” Obviously, that’s an extremely vague description. However, the creator of the platform claims you can see it as more of an “umbrella” for various online services – including their Shopomy platform.

Some of the core functions of the platform and the GOOD token include:

Consumers Get 20 To 100% Off Everything:

Goodomy has a “revolutionary business model” that allows consumers to “get up to a 100% discount when they make a purchasing using Goodomy,” explains the official website.

Evenly Distributed Authority:

Control over the economy is distributed among the general population, placed into the hands of people like you. As a token holder, you have control over the future of the platform.

Stable And Increasing Value:

The more people that join the network, the more stable the Goodomy economy becomes and the more buying power token holders have.

The Goodomy ecosystem is centered on a marketplace called Shopomy. Transactions on that marketplace are free for buyers and sellers. It’s a frictionless environment where shoppers can interact with merchants while using GOOD tokens as a payment mechanism.

There’s also something called “Retail Mining”, or REMI, described as “a way for businesses to provide incentives for consumers to mine for Goodomy.”

Ultimately, there’s relatively little information about Goodomy available online. The website doesn’t have a whitepaper – it has a “video whitepaper” that’s 11 minutes long. The company also claims to be launching a “revolutionary” app on May 24, 2018. That app promises to “change the way you use money, forever.”

Goodomy Features

Some of the key advertised features of Goodomy include:

Free Transactions:

All transactions on the Shopomy marketplace are 100% free for both buyers and sellers.

Convenient:

Get Goodomy in seconds at trusted retail locations around the world. It’s not totally clear what Goodomy’s website means by this. However, you can buy Goodomy from major exchanges like CoinExchange.io, which has GOOD/BTC and GOOD/ETH pairs.

Local And Social:

Share deals with the Goodomy network by taking a picture or a quick 1 minute video. Give and receive tips in GOOD tokens.

Save Money:

All products listed on the Shopomy online store are discounted “at least 20%”. Users can save money on clothes, groceries, haircuts, and more.

Post Listings Easily:

Create new listings in under a minute, easily adding images or videos to your product descriptions.

More Liquidity:

Business owners can increase their liquidity by accepting Goodomy.

SMART Accounts:

Businesses can sign up for Goodomy using smart accounts, allowing businesses to temporarily tokenize their inventory via “Flash Inventory Tokenization Events”, or FITE. It’s a way for buyers to amplify value with consumers or P2P transactions.

Who’s Behind Goodomy?

Goodomy is being developed by a man named Antoine Sorel Néron. He’s a Canadian inventor, entrepreneur, and founder of multiple startups. He was also the project lead for Karmacoin back in 2014. Karmacoin may have been the world’s first ICO (Antoine claims to be the “inventor of the initial coin offering” online). You can view Antoine’s LinkedIn page here.

Other listed members of the executive team include Carolina Rueda (Economist, Goodomy South America) and Fiorella Carbajal (Business Process/Six Sigma, Goodomy South America).

Goodomy Conclusion

Goodomy is some type of blockchain ecosystem with an overwhelming number of vague goals posted online. The ecosystem has no whitepaper – it basically just has an 11 minute video that describes the general goals for the platform.

We know Goodomy wants to “eliminate banks and fees”, for example. We know they want to create a decentralized marketplace, and that they want to launch “a new kind of money.”

Everything seems to be building up for some revolutionary app that will be released on May 24, 2018. It’s unclear what that app will do or how it will work. However, you can stay tuned to Goodomy.com for the latest information from this project.