ShoCard ShoCoin ICO (SHO Coin): Identity Management On Blockchain?
If you are here, you are probably interested in ShoCard ShoCoin, so read our review about it.
What is ShoCard ShoCoin?
ShoCoin is a new cryptocurrency developed by a company called ShoCard to be used in its app. The objective of this token is to enable a sort of compensation in exchange for identity validation. That means that this company is going to give you incentives to validate your identity, something that many companies need, and will give you something good in return, something that you would like.
This company was created by Jerry Yang, which already worked on Yahoo, ShoCard and as an investment advisor before and Robert Tinker, which is a member of the ShoCard Board and Mobielron. The CEO of the project is Armin Ebrahimi and the company already has investors like Ame Cloud Ventures, Morado, Digital Currency Group, DHVC and Enspire.
Also, if you visit ShoCoin’s site, you can see that the company already has a list of clients at the moment that includes Rivetz, Emirates, Majesty Alliance, AmChar, Blockchain in Telecom and many other companies.
How to Use ShoCoin?
You will be able to use ShoCoin on a platform called ShoCard which was invented by the same company (also named ShoCard). You need to create a ShoCard ID first and then log in. ShoCoin is going to be the main cryptocurrency of the app, so it will be very important if you want to access its features.
You can buy ShoCoins during the ICO, which has already started. It is currently in the pre-ICO phase and it will have a discount of 30% until April 6, when the discount will be reduced to 15%. The main ICO will start on May 28 and it will not have discounts. ShoCoins will have a total of 1,000,000,000 SHO tokens and their official ICO price will be $0.11 USD.
Most of the funds gathered in the ICO will be used on research and development (50%) or business development (30%).
Without the tokens, you will be excluded from using the app, so the answer would be to buy the tokens later but then you would obviously have to pay more for it then.
Why Should You Buy ShoCoin and Use the ShoCard Platform?
As stated before, ShoCard ShoCoin is a way for users to have their identity verified and, instead of having to pay for it, be actually paid for their “service”. The company promises that its platform secures the user data using encryption and always keeps the data private and well stored.
The users will have the freedom to decide with whom they want to share their information and, by using technology like the blockchain (decentralized and safe) and TouchID, ShoCard manages to actually secure the data very well, as far as we are concerned.
The main positive point of using this company’s services is that ShoCoin is that you be beneficiated twice. It will be easier to confirm your identity whenever you need and you will even be paid for it.
Service providers and governments will also benefit from the company, as they need personal information and it can be a cumbersome idea to make each user register every time that it needs to use a new service. Many people simply give you when they have to do the same process over and over again.
The ShoCard ShoCoin ICO (SHO Coin) Verdict
This is an interesting company for people who want rewards for giving their identity to companies. If we should state a positive point about ShoCoin is that the company is certainly concerned in finding a profitable niche and it succeeds in doing this because it can offer what both clients and the companies want at the same time. This looks like a solid investment.