Over the past 3 years, the team behind OriginalMy has been working hard developing a global platform that provides new blockchain applications with the purpose of decentralizing bureaucracy.
Their token sale is set to go live on November 27th, 2017. View their website for more information.
What Is OriginalMy?
It’s quite fitting that a company whose sole purpose is to fix the dysfunctional bureaucracy system would come from Brazil, a country that ranks 140 (out of 180 countries) on the Index of Economic Freedom. Brazil is known for having a complex and inefficient bureaucratic system that is not only responsible for allowing corruption and money laundering, but also prevents the development of society and the exercise of free enterprise.
The OriginalMy team was fed up with this and decided to create a new system altogether; not just for Brazil, but for the entire world, since dysfunctional bureaucracy is a problem pretty much everywhere. They realized the key to improving efficiency is decentralized authenticity through blockchain-based technologies that offer full transparency, accessibility, and trust.
OriginalMy offers multiple blockchain-based applications for its users:
Blockchain Registration And Authenticity –
Also known as “Proof of Authenticity,” this service allows any digital document to have its existence and content proven through a timestamp that is provided by a public blockchain.
Web Content Proof –
By using OriginalMy’s Google Chrome plugin, anyone can register website content, proving that they were available at some given time. This service has been used to collect evidence for cases on bully and defamation in social networks.
Blockchain Identity –
OriginalMy registers and accesses users’ identities through their app. Once a user is registered, the system creates a unique and exclusive Blockchain Identity owned by the user, which allows them to perform actions on the internet, such as logging into websites without having to enter a password and fill out forms.
Contracts Signature –
Contracts can be registered through OriginalMy. The app allows designated parties that hold a digital copy of a contract to sign it using their Blockchain Identity.
OriginalMy ICO Details
OriginalMy aptly named their tokens “Anti-Bureaucracy Coins”, or ABC. The sale of ABC tokens is the very first token crowdsale to take place in Brazil.
The token sale process is split into two phases, as OriginalMy aims for a gradual process of decentralization and an organic creation of a decentralized network.
Phase 1 is raising funds for the platform internationalization, including multiple countries’ ID public database research and validation, and significant improvements in user experience.
Phase 2 of the ABC tokens crowdsale is expected to happen after complete execution of their Roadmap and will raise funds for the complete development of a new protocol for decentralized ID and attributes registration and verification from people and organizations, which shall contemplate a new open-source blockchain.
The Phase 1 sale is scheduled to begin on November 27th, 2017. It will end after all available ABC tokens are sold, or on December 27th, 2017; whichever comes first.
The ABC tokens will be issued using the Ethereum platform, in ERC20 format. A total of 200 million tokens will be issued, with 33% of them being made available for the token sale. ABC tokens can only be paid with Bitcoin or Ether.
OriginalMy could prove to be a very interesting company to invest in if you are attracted to the idea of dismantling the dysfunctional and corrupt bureaucratic systems of our world.
Of course, as with any investment in any business, do thorough research before making any decisions.