SophiaTX is a stand out when it comes to open source platforms as it is the first of its kind to have integrated blockchain with SCM, ERP and CRM systems such as SAP.
There has been official confirmation that it will have their Token Generation Event shortly, starting on the 5th of December of this year.
This news comes after they recently revealed their functional proof of concept, as well as having published a white paper that discusses a lot of the main details related to the functionality of SophiaTX and how it can help businesses no matter what size they may be.
Some of the key points discussed in the white paper talked about what limitations exist in the current form of blockchain, such as Ethereum. The main issues relate to their lack of speed, inadequate levels of privacy and features that allow businesses in the mainstream world to adopt the blockchain.
What Is The Unique Selling Point Of SophiaTX?
SophiaTX has focused on fulfilling three main roles with their system with the aim of transforming a number of different business practices across industries.
Their one to one document exchange utilizes the blockchain in a way that ensures those parties who both receive and send business documents such as invoices, quality inspections, and delivery notices make acknowledgment of their transaction.
Their multi-party information exchange means that many different parties are able to work together and transfer information in an efficient manner.
This is at the same time as ensuring that there is sufficient transparency in place, as well as a form of verification to ensure there is fairness in the bonuses or penalties that are involved in the business setting. In practice, this, for example, could help synchronize delivery dates on a project in which multiple parties are working on.
The SophiaTX multi-party collaboration over the value chain means that the verified information can be tracked all of the way from the manufacturer through the process until it reaches the end consumer. This means that all forms of good can be easily tracked and traced, as well as allowing for extended warranties and the likes.
SophiaTX And Their Token Generation Event Details
The SophiaTX Token will be fueling this platform and will include the transaction and mining fees. It can be used to gain access and subscribe to the development platform, as well as allowing for in-app and marketplace purchases.
This event will take ten days and there will be a total of 5 rounds in which 30 million tokens will be made available. There has been no soft cap put in place while the hard cap is 115,000 ETH.
If there are any tokens left over after the ten days, these will be distributed proportionally to any investors depending on their existing stake.
The advantage for investors interested in SophiaTX is that they will have access to buying tokens before they have been made available on the global exchanges. All funding that is generated is going to be re-invested into the project in areas such as ongoing management, marketing and the further development of SophiaTX.
Who Is The Team Behind SophiaTX?
They are a company that is currently based in Switzerland and they run an international operation. Their headquarters is in Zurich and they have delivery centers located in Bratislava, Shanghai, Kuala Lumpur and Riyadh while they are currently contemplating opening one in North America as well. Their goal is to provide everything their clients need and to drive up the level of adoption.
What Is The Main Aim Of SophiaTX?
Blockchain has become a hot topic in recent times as people are becoming more and more aware of its advantages when it comes to their businesses. It allows the exchange of peer to peer information between both the businesses and the consumers themselves.
One key area that it may help is by tracking medicine from the manufacturer to the distributor, to the hospital and ultimately to the patient. Many markets are struggling with the infiltration of fake drugs so the implementation of this blockchain technology will ensure that both the manufacturers and the consumers of these drugs are adequately protected.
SophiaTX is targeting a market that currently is not serviced so they aim to be the first people to enter the space of enterprise applications like SAP and by developing APIs that are standardized, they have the goal of creating massive levels of adoption.