GoshenCoin 2.0 Do Business The Smarter Way

Transcription

1 GoshenCoin 2.0 Do Business The Smarter Way

2 Contents 1. Introduction 2. Market Overview 3. Value Proposition 4. Blockchain Technology 5. Smart Contracts 6. Decentralized Apps (DApps) 7. GoshenCoin History 8. GoshenCoin GoshenCoin 10 Year Plan 10. Token Distribution 11. GoshenCoin 2.0 Ecosystem 12. Accounts- Connectors, Marketers and Merchants 13. Programs 14. Use Cases of the GoshenCoin Reward System 15. Transactions 16. Who We Are 17. References 18. Contact

3 1. Introduction At the early stages of the GoshenCoin project, some associates advised that we adopt Multi Level Marketing (MLM) system to drive our community growth and user base. This was met with objections by the GoshenCoin development team, citing some of the reasons below: 1. Pyramid nature of MLM systems where those at the top benefit most from the system 2. Prone to Ponzi; money paid by newer recruits used to pay the older members 3. System collapse due to insincerity of administrators in pay outs of commissions and earnings 4. Earnings based solely from recruiting new members 5. Poorly designed products and/services 6. Frequent movement of marketers from one program to more attractive programs Survey done by our marketing team showed that the public perception of the MLM industry (a sub-set of Direct Selling) was far from acceptable. There were however responses to buttress the fact that the situation was still redeemable. An opportunity therefore presented itself. The design of a holistic solution that would guarantee a stable, transparent, and performance-based reward system for the Marketing industry thus began.

4 2. Market Overview Promotion refers to any type of marketing communication used to inform or persuade target audiences of the relative merits of a product, service, brand or issue. Promotions are used in creating awareness, generating sales lead, reward brand loyalty and a host of other activities that help an organization increase its market share. How does an organization measure its ROI from its marketing promotion? When can a promotion be termed to be successful, by increased awareness, a trending hash tag on twitter, or increased sale? Having a quantifiable metric to measure success of marketing promotions ensures that merchants receive exactly what they pay for. They are able to better plan campaigns knowing how their allocated resources generate the expected ROI. Our blockchain-based reward system is looking to become a viable alternative for organizations to run their marketing, sales, and promotional campaigns as programs, with quantifiable results to show. The system provides a decentralized marketplace where business organizations (Merchants) can engage Marketers directly, without the need of an intermediary, and both get exactly what they expect. The diagram shows an overview of what the Merchant should expect from GoshenCoin reward system.

5 3. Value Proposition We are proposing a peer-to-peer decentralized account called a Connector, which is the active participant in the GoshenCoin reward system. A Connector plays both roles of Marketer and Merchant. These roles are explained in details in Section 13 (Accounts- Connectors, Marketers and Merchants). Connectors are members of the GoshenCoin reward system, whose value is based on the quality of connection and their accounts can be in any of 3 states: 1. Inactive: Newly created account that hasn t being activated yet. Inactive accounts can participate in programs, but cannot withdraw their earnings. To activate an account, certain tasks have to be performed. 2. Active: Account that has being activated. Can initiate, participate, earn and withdraw earnings. 3. Deactivated: Account that has being closed by the owner. Cannot participate in any activity. The weight (value) of an Connector is determined by the Quality of Connections to it. GoshenCoin Cash (GCC) is the currency used in the GoshenCoin reward system. Connectors, depending on the roles being played (Merchant or Marketer) adds value to the GoshenCoin reward system and market value, through their activities. GCC Market cap = Total value of running programs + Total quality of connections

6 4. Blockchain Technology A blockchain is a decentralized public ledger of all transactions that have ever being made by users of a particular Cryptocurrency. It uses files to store transactions on the network, and these files are referred to as blocks. The blocks are connected together through a chain that links the current block with its predecessor. The blockchain is constantly growing as completed blocks are added to it with a new set of recordings. The blocks are added to the blockchain in a linear chronological order. Blockchain is the technology on which Bitcoin, Ethereum, GoshenCoin, and other cryptocurrencies are based on. Blockchain technology has evolved with time to meet growing demands of functionality, capacity, and speed. Notable are: Blockchain 1.0 Transactions. Bitcoin Blockchain 2.0 Programmable transactions (smart contracts). Ethereum Blockchain 3.0 Decentralized Apps (DApps). Golem Blockchain 4.0 Industry-wide application. GoshenCoin 3.0

7 5. Smart Contracts Smart contracts are autonomous computer programs that execute automatically when certain conditions are met. They do not require the mediation of a trust third party before they can be entered into. Ethereum is the first Cryptocurrency to successfully deploy smart contracts on its blockchain. Developers can now create contracts and tokens that run on the ethereum blockchain, which are executed whenever they are called, or when pre-designed conditions are met. GoshenCoin 2.0 (an upgrade of GoshenCoin) was recently migrated to the ethereum blockchain, to deliver a system where Business owners (Merchants) engage Marketers to promote their programs. Activation of Accounts (Connectors), tracking, and performancebased compensation are among activities that are handled by smart contracts on GoshenCoin. Activation of Accounts- require certain task(s) to be done, and then Account is set to Active. Tracking- track performance of Connectors on third party platforms. Compensation- reward Connectors based on performance Exchange- Connectors trade their weights (value) of their connections in exchange for GCC Token- GCC is an Ethereum ERC20 Token

8 6. Decentralized Apps (DApps) Decentralized Apps (DApps) are applications whose client-server models are decentralized, while others are centralized or distributed. Decentralized applications key advantage is the distribution of essential components, a move that improves fault tolerance and makes it practically impossible and expensive to attack such a network. The backbone of which is DApps-blockchain-ensures fast, reliable and secure applications to enhance the customer experience. With increased volume as well as velocity of data from new sources like social media, blockchain, DApps provide a fast, efficient and affordable way of processing storing big data. GoshenCoin sub-system support DApps running as stand-alone programs which have access to use GoshenCoin reward system to promote their programs. The DApps provide user interface through web URL or mobile apps, having their data stored in distributed hash tables spread across a network of computers. A hash table is a data structure that stores information as key/value pairs. Connectors and their weights are stored in this data structure to allow for efficient coordination, access, and look up between IPFS (Interplanetary File System) consists of several communication protocols, that addresses the deficiencies of the client-server model, providing a cryptographically authenticated data structure for GoshenCoin Connectors.

9 7. GoshenCoin History GoshenCoin was designed and developed by a team of Africans and Europeans led by Eugene Nwoji in February It was originally designed as a solution to remittance, international money transfers, and e-commerce payments problems. It was a secure payment platform for online and offline transactions, 6 minute transaction confirmation which consisted of 6 blocks each a minute duration. Licensing issues, and the need to deliver better value to users and stakeholders necessitated migration to ethereum blockchain. Having a narrowed focus, the project seeks to make more impact in its target market. GoshenCoin Timeline February 2017 May th 17th Feb 2017 GoshenCoin created, domain registered 6th Mar 2017 GoshenCoin wallets Web, Android, IOS & Linux 15th Mar 2017 Mining Pool set up for the mining of GoshenCoin May GoshenCoin (GXP) listed on Novaexchange Sept GoshenCoin Wallet WordPress (Payment gateway) Plugin and Adapter extension Mar 2018 GoshenCoin (GXP) migration to Ethereum blockchain, now GoshenCoin Cash (GCC) May 2018 Verification of GXP wallets and commencement of coins swapping to GCC 17th July 2018 Distribution of GCC Tokens

10 8. GoshenCoin 2.0 GoshenCoin 2.0 is your global blockchain-based reward system for C2B (Connector-2-Business) market-place. As a reward system, GoshenCoin 2.0 offers a transparent and trustless alternative A Connector is an account holder representing an individual in the Goshencoin reward system. The account has a weight, which has monetary value. Your account is an asset, and you can earn income and capital gains on it. A Merchant is a connector that initiates a program (event driven activity initiated by a connector with the goal of increasing their market share through marketing, sales or promotional campaigns). GosheCoin 2.0 was created to bring transparency into the marketing industry, and within the next 10 years will become industry standard for transparent and verifiable performance compensation for marketers and merchants. GoshenCoin Cash (GCC, GC2) is the currency used in the GoshenCoin reward system. The price of GCC is market determined, and it is an excellent store of value.

11 9. GoshenCoin 10 Year Plan GoshenCoin 2.0 Roadmap is a 10 year Development and Marketing plan which is categorized into 4 phases of 2.5 years each. The goal is for the project to evolve with the blockchain technology while deploying practical solutions to solve real life problems in the marketing industry.

12 10. Token Distribution Specifications of GoshenCoin Cash (GCC) Total Supply 52,000,000 Type Ethereum ERC20 Token Short Name GCC Contract 0xc0B1FeF4Bd44f25BdCFF517d0CEcA25D202058f9 Decimals 18 Token Distribution 1. Swap GXP for GCC 3,400,000 GCC 2. Pre Sale 1,000,000 GCC 3. Airdrop 2,000,000 GCC 4. Marketing/ Development (4 Phases) 5,200,000 GCC 5. Research/ Business Development 10,400,000 GCC 6. Investors (4 Phases) 30,000,000 GCC 7. Total - 52,000,000 GCC

13 11. GoshenCoin 2.0 Ecosystem GoshenCoin 2.0 Ecosystem comprises of systems interacting with each other to deliver value to users of the network. These are: I. Marketplace Where Merchants and Marketers carry out their businesses. Merchants initiate programs and Marketers participate in them for rewards. II. III. IV. Connectors Account owners in the GoshenCoin reward system. Connectors may play the role of Merchant or Marketer depending on the program. GoshenCoin Cash (GCC) Ehereum ERC20 token used in GoshenCoin. Programs are paid for by Merchants using GCC. Rewards Compensation that Marketers receive for participating in programs. Using a performance-based system, Marketers are paid exactly for work done. V. Programs Are event-driven activities initiated by Merchants for the purpose of marketing, sales, or promotion of their products, services, or events. Merchants initiate programs while Marketers participate in them for rewards. VI. Merchants Are individuals, business organizations, government agencies, and not-for-profit organizations who initiate programs on GoshenCoin.

14 12. Accounts- Connectors, Marketers and Merchants GoshenCoin 2.0 is built around Connectors. A Connector is an account representing an individual or organization in the GoshenCoin reward system. To become a Connector, you have to sign up an Account through our official website and activate your account. Activation requires you perform tasks. You can improve the value of your account either by increasing the quality of your connections, or by participating in Programs running on GoshenCoin. An Account thus becomes an asset that earns income and capital gains. A Connector is an account holder representing an individual in the Goshencoin reward system. The account has a weight, which has monetary value. Your account is an asset, and you can earn income and capital gains on it. A Merchant is a connector that initiates a program (event driven activity initiated by a connector with the goal of increasing their market share through marketing, sales or promotional campaigns). Marketers engage in promotion of programs, Earn rewards based on performance, and participate in increasing the value of GoshenCoin through improving the quality of their Connections.

15 13. Programs A Program is an event-driven activity that is initiated by a Merchant with the goal of increasing their market share. These activities are marketing, sales, and promotional campaigns. Each program has a start time and a finish time. Programs have their compensation plans for Marketers, managed by the GoshenCoin reward system. On the GoshenCoin reward system, any activity that engages a Marketer is a program. It could a promotional campaign, online marketing, or ticket selling. Programs are launched by Merchants who provide details, make deposits for the compensation, and them broadcast them to the community. Marketers participate in these programs where their activities are tracked and duly rewarded. Programs are a way for business people and organizations to deploy resources in marketing, paying for exactly what they consume. Campaigns on social media through programs give the Merchant a predictable outcome. Performance of Marketers in promoting programs can be tracked and verified to ensure that reward and performance are equal.

16 14. Use Cases of the GoshenCoin Reward System The GoshenCoin Reward system comprises of a Marketplace where Merchants and Marketers deal, also third party programs run on it. The following are examples of programs that can be deployed on GoshenCoin Decentralized Marketplace for Merchants and Marketers Loyalty Reward programs Gift cards Affiliate Marketing programs Freelance Marketing programs Performance-based Reward system Network Marketing programs Direct Sales programs Contextual Advertising programs Social Media/ Digital Marketing programs Events Promotion Sale of Tickets Online Internet Marketing programs Capacity Building and Training programs Consensus-based Reward system Airdrop programs Marketing programs Survey programs

17 15. Transactions Transactions on the GoshenCoin reward system can be broadly categorized into 3: 1. Internal Off-chain transactions between any 2 Connectors. Involves the transfer of balance (denominated in USD) from one Connector to the other. Connectors earn from compensation received from programs they participate in, and can transfer their balance between each other. 2. External On-chain transaction between 2 owners of GoshenCoin Cash (GCC). The cost of this transaction is subject to amount and cost of gas charged by the ethereum network. 3. Exchange These are transactions involving the exchange of current balance in a Connectors wallet (USD) and GCC. These transactions are handled by different smart contracts.

18 16. Who We Are GoshenCoin Merchant Solutions Ltd is a duly registered company with RC , to carry on design, development, and sales of blockchain products and services. Our vision is to "To be a world class provider of innovative business solutions". Our mission is To deliver safe and convenient interface for seamless exchange of value. Our Core Values: Customer Support- We provide personalized support systems with excellent customer service. Innovation- We consistently seek new ways to create efficient processes helping our clients achieve their personal and organizational goals. Value-Driven- Driven by the desire to deliver value first. GoshenCoin Merchant Solutions Ltd is the owner and promoter of 1. GoshenCoin- global blockchain-based reward system for C2B (Connector-2-Business) market-place Covered in details in Section 9 (GoshenCoin 2.0) 2. GoshenCoin Cash (GCC)- currency (ethereum ERC20 token) used in GoshenCoin reward system. 3. GTI- a Cryptocurrency trading institution that provides resources, learning and support for Cryptocurrency investors and traders. 4. MasterClass- Capacity building Cryptocurrency training program for the business minded

19 17. References 1. Satoshi Nakamoto - Bitcoin: A Peer-to-Peer Electronic Cash System 2. Ethereum Whitepaper: A Next-Generation Smart Contract and Decentralized Application Platform 3. Andreas M. Antonopoulos- Mastering Bitcoin: Unlocking Digital Cryptocurrencies 4. Direct Selling Association Kotler Marketing Group What are Decentralized Applications (Dapps) A peer-to-peer hypermedia protocol to make the web faster, safer, and more open Are Decentralized Apps the Future of the Internet?- 9. Wikipedia

20 18. Contact Contact details: Telegram: t.me/goshencoin Twitter, Instagram,