What Is PetCoin?
Petcoin is a blockchain venture with the goal of revolutionizing the pet world through blockchain technology. The platform is set to offer its Petcoin ERC20 token for use in its global ecosystem of pet care. The cryptocurrency will facilitate pet care services and data management between pet owners and veterinarians. As the first crypto for the pet world, Petcoin also plans to introduce a reward program that will inspire participation across the world of pet owners. Each pet owner or veterinarian who makes a contribution that will benefit the Petcoin ecosystem will receive a reward through a transparent and decentralized reward scheme.
PetCoin Decentralized Pet Care Blockchain Solution Features
With the aim of improving the worldwide healthcare of pets, Petcoin plans to initiate this through three features on its platform. The first feature is the pet assurance concept. In this, the pet owner has the option to insure his or her pet with a blockchain-based insurance scheme that is aligned to suit their pets' needs. Each insurance cover will be rated according to the health condition of the pets and aligned to the pet's veterinarian.
There is also a health database that will protect pet health records and data in a decentralized database. The information ecosystem will only be accessible to the pet owner or the veterinarian through special permission. An apparent aftercare mobile app is available to the pet owners who want to keep up with post-treatment or monitoring of their pets' health condition. The application is set to be made available to the Android operating system to achieve the platform's goal of a global pet world.
Is PetCoin A Viable Project?
Even for a blockchain venture, the idea seems a bit far-fetched. Whereas the concept behind the project is excellent, the ultimate determinant lies in the future potential of the project. Additionally, it is going to a considerable shift before pet owners, and lovers can warm up to the venture. That means there isn't much in store for the project in the long run.
Also, the plans to connect the Pet world seem a little over the edge. First off, the project's whitepaper does not evaluate how it plans to do this in the long run. The Pet foundations are also a point of concern since people are donating to projects which they have failed to name. All-in-all, even for a pet lover the idea has nothing to show but a lot of promises. Before you take your course to invest, I would recommend a different course of action.
Another turn-off is the development team. For a project that is set to impact the world the number of developers is relatively small even for a blockchain startup. That means in the future Petcoin can fold up in the future if it meets an unprecedented problem which the team cannot handle.
PetCoin PCN Verdict
Although Petcoin is a pioneer in blockchain for pets, the project still requires much effort to achieve its worldwide dominance. A lot of the platform's success will rely on the adoption of the veterinary services. And while this might seem beneficial, it will take a considerable amount of time before the token picks up. Consequently, these means Petcoin has a long way to go before it can make an impact on the blockchain world.