If you have heard of the thing called the internet, and have purchased products on the internet from online retailers such as Ebay, Amazon, Etsy or sought services through Thumbtack or Care.com, then welcome to the next stage in digital personalized service index.
A brief background on Neoplace: The grassroots movement began in January 2017 in Hong Kong. Currently, there are prototypes of the dapp available for iOS and Android. Like many other businesses evolving into the blockchain technology, Neoplace is a decentralized network. The goal of Neoplace is to promote the growth of the platform and community of online businesses, and to instill transparency in an infrastructure powered and protected by smart contracts.
Whether you’re a welder, housekeeper, physical therapist or professional psychic, Neoplace provides a database for business owners and additionally, for users interested in exchanging cryptocurrency for cash and vice-versa.
Essentially, the platform divides into multiple categories; Clients purchase products or search for a service while registered merchants sell goods or render the service provided. In addition, the members can exchange their tokens (Neoplace’s token of exchange is NPT). Applicable fees for merchant sales have a running rate of 2% while the services fee is a fairly modest 5%. The reasoning behind the lower rates guarantees more opportunities at lower cost than say Ebay or Amazon, which in turn, propagates more sign ups.
The loyalty program is another incentive for new or already joined members. Frequent users are rewarded cash back, both at a fixed rate and a potential variable rate. Tokens are more often than not the bestowed compensation.
In regards to the token pre-sale, Neoplace accepts both fiat forms of exchange and Bitcoin, Litecoin, Ether and Dash for payment. The hardcap is at $30 million. Any time account holders use their tokens in transactions during the sale, they are allotted 0.02% – 2% of the transaction’s total in NPT tokens. This ensures the circulation and value increase of the token.
So what’s the catch? You may as well be prepared now: U.S. citizens have inaccess. According to the FAQ, only accredited investors may join. In fact, if a citizen of an ineligible country applies, they will be denied; only a certified business organization may participate. Not the best news, but there may be opportunities in the future.
Neoplace Team & Company
When it comes to the team, there is a full board available for participants. CEO and co-founder is Robert Srong, with a background in stack development and software engineering. Srong emerged with a Master’s degree in Computer Science and was lead developer for a team in a trading company for three years.
The next co-founder for Neoplace is Vincent Jacques, who also stands as COO, and founded a $25 million learning platform by the name of Planorama, and was also a strategy consultant for the Boston Consulting Group.
The company’s CEO extraordinare is Amine Chabbi, who holds multiple titles of VP of Finance, and Partnership Negotiation. His educational background earned an MBA with an emphasis in Finance and Strategy, as well as a degree in Civil Aviation. Chabbi’s top skill sets also lay in leadership in business negotiation and strategy development when involved with Airbus and A380 plane.
Another co-founder alongside his brother is Roland Srong, CTO and expert in blockchain technology. He also holds an MBA in Computer Science and is regarded as a highly successful engineer in Big Data and full stacking at an french bank and investing firm.
Following the big shots is Daniel Cassim, a partner to the Neoplace platform, and also the IT manager. Sophia Sou is in charge of Business Operations and has an extensive background in global strategy, marketing and customer relations management. Sou received her MBA from a prestigious French university.
Here’s the skinny on how it all functions: With the basis of a P2P network, Neoplace operates on an Ethereum-based blockchain platform and IPSP protocol, which is the next evolution from an http protocol. The app is designed to act as a guide to assist members in their role as a purchaser or vendor, and also determine what do with the available funds.
The payment process is set up is like so: NPT is the ERC-20 certified cryptocurrency medium of exchange, which can be utilized to pay for goods or services, donations, currency exchanges, as well as transaction fees. Any disputes are processed through the automatic escrow resolution, ensuring that transactions are safe and that the smart contracts remain steadfast in agreement. In furthering the security and validity of the merchant, any products which are posted for selling use a timestamp, a photo and a location tag, which ensures all transactions are 100% legitimate.
The operators of the businesses are verified through background checks. In terms of features, the app also allows for a search and listing of services. The “Around Me” feature of the app allows for consumers to purchase nearby local products or request services. When the transaction is agreed upon, a payment request is sent in QR code form. Another neat quality of the app is it provides an option to exchange fiat money into the tokens and vice-versa on a simple display when the account is logged into.
NeoPlace In Conclusion
Our thoughts? Amazing concept, certainly a lucrative step for businesses, and of course, reinventing the wheel some. Our gripe? Citizens should have access to it, but perhaps the vision of the company’s practices is that the network and its core intelligence are more substantiated through the allowance of professional accounts only.