Dates For Zwoop’s ICO Finally Announced For September 2018
Zwoop is a platform that uses both AI and blockchain technology to help consumers shop online with cryptocurrency. Though the dates for their initial coin offering (ICO) have been pending for quite some time, the company has finally announced that the pre-sale will begin on August 28th this year. The pre-sale will run until the start of the ICO, which will be on September 25th, 2018.
The platform hopes to raise a total of $20 million as investors receive ZWP tokens in exchange. These tokens can be used on their platform for purchases on their online marketplace. The goal of the company is to utilize both AI and blockchain technology to eliminate the need to rely on multiple websites and online shopping areas to find the best price.
By finding everything in one website, and being able to purchase from it as well, users save both time and money. They also preserve the amount of personal data that they release, since they only have to register on one site instead of the websites of multiple stores.
The Zwoop Experience
With the Zwoop platform, every user is able to search for a product amongst any retailer in the world. They have access to the availability of the particular product, along with the best price. The user can purchase directly on the website without deferring to the separate retailer.
The AI technology helps the platform to find similar products within the same search term, even if the name is not exactly the same.
Zwoop originated in April 2016 as the result of five founding partners’ work in technology. The learning technology that AI provides has been the result of over a year of work, spending 130,000 hours of coding with over 40 software engineers.
The platform had a Testnet in the UK, though the public will have access during the ICO next month. One innovation that sets this platform apart is that users will be able to pay with cryptocurrency for any transaction, even if the company does not accept digital assets. This part of the program is planned for launch in the fourth quarter of the year, though the United States will need to wait until 2019, which is when additional services will be added.
The ZWP token works under the guidelines of ERC20, and it can be used both inside and outside of their platform. Users will get these tokens as loyalty rewards, though the two sales also make them available for purchase. The tokens are then used as payment for any e-commerce purchase. Users can also buy and sell them in a C2C capacity.
Other parties involved can also use the token. Miners will be rewarded with a certain allotment of ZWP tokens, while merchants and other companies can use the tokens for Zwoop-based services.
Final Words From Zwoop’s CEO
Alessandro Gadotti has been the CEO of Zwoop since he created it. In a statement about the upcoming sales and launch of the platform, he said,
“Developments in e-commerce over the past decade have favored the merchant, rather than the consumer. At Zwoop, our philosophy is different – we are on the consumers’ side. We are their transparent and honest personal shopping assistant, and we provide unbiased search results, simple one-click checkouts, and total control over their payment and personal data.
Handing back control of personal data to consumers, rather than corporates, is at the heart of Zwoop’s philosophy; whilst others are reluctantly responding to regulatory changes, we passionately believe that personal data belongs to the individual. “financial rewards” are provided to their customers, and they will have “complete access to products and simplicity in any aspect of the purchase.”
The company wants to expand to become a mass market blockchain and cryptocurrency solution. They plan to eliminate the complex nature of crypto transactions, and potentially stopping investors “from adopting blockchain technology.”