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LocationCore: The new NEM proposal

The blockchain platform of NEM has been having an important acceptance in diversity of projects, many of which are putting to vote of the community of this platform, constituting an excellent example of decentralization. In this opportunity we will talk about LocationCore, product of the company Digital2Go, and which is created in the blockchain of NEM.

LocationCore is a product of Digital2Go, an active marketing intelligence and consumer engagement company with several business customers that currently use the platform. This product consists of an SDK and an application that allows users to earn money for their personal information. At Digital2Go they plan to democratize this personal location information with LocationCore and expand their offer to other applications in the form of a loyalty / reward program.

Digital2Go already has the Location Products application in operation, which already monetizes millions of user data points per day. The existing Digital2Go data revenue channels will be increased and enriched depending on the adoption of the LocationCore SDK.

The goal of Digital2Go according to them exposed in the NEM Forum is to be a transparent data collection company that uses the NEM block chain as a way to mitigate the trust relationships that consumers usually have with application providers.

For this, they set up a namespace and a mosaic in the NEM blockchain that would act as the base currency for the remuneration of the user’s data, and these mosaics would be awarded as a reward for the time they shared their location data with the platform. All transactions will be recorded in this base currency and users will have the option to “charge” or keep their tokens.

It is natural to expect that as the adoption of the application continues, the volume of transactions will also increase. By forging alliances with application developers and IoT product developers, they seek to create a complete ecosystem that rewards location data at the point of creation of the NEM blockchain, increasing the visibility and value of XEM as currency and the ROI of all in the process.

Reasons why Digital2Go chooses NEM as its block chain:

  1. API vs. dark new language

They are integrating an existing system into the blockchain to ensure they are as efficient as possible.

  1. Forum of community developers

NEM puts a lot of emphasis on supporting developers. They understand that the success of the developers is the success of NEM.

  1. Speed

It is important and vital to work in a blockchain that works, with the release of Catapult in sight, increases the number of options for the use of blockchain in the application.

These are the characteristics of NEM that will be used by LocationCore:

  1. Names and mosaic spaces

The LocationCore namespace will be created in the NEM blockchain, which will be used to authenticate the mosaic to be used as a currency vehicle for LocationCore products.

  1. Mijin

Planned use of blockchains allowed together with the public offer of blockchain (on which LocationCore will be based).

  1. Multisignature

They will enable Multisignature to secure the funds and decentralize the responsibility of the wallet.

PHASES OF DEVELOPMENT

Current

Digital2Go has a fully operational customer portal with analysis and panels that has been in constant development. The next stage of development is to take advantage of its offers to allow ownership of personal location data and integrate the entire system with the NEM blockchain.

Phase 1 – 3 months

Development of the SDK to transmit data to IoT endpoints and register transactions in blockchain, Android and iOS. The SDKs will be open source.

Phase 2 – 3 months

Development of the LocationCore application that integrates this SDK. This application will be the main offer while associations are created. It will be available in app stores where users can download and start earning tokens.

Phase 4 – 2 to 8 months

Provide a measured API to allow access to advertisers’ data. The data rates will be in volume initially. Payment will be available in XEM, LCC and Fiat mosaic.

Phase 5 (later)

Develop relationships with organizations to have the LocationCore SDK included in the applications.

Voting to demonstrate support for the LocationCore Community Fund proposal is open to the NEM Community. You can vote as follows:

To vote YES:

Send a transaction 0 XEM to:

NAU3UWQ4PEHDPDSKRLIVSOFOICRTGEA5UWYAXFWV

To vote NO:

Send a transaction 0 XEM to:

NBZZWAVLPOPRPMJCLF4TEBVKD7JSDAIHB2TGEEC6

To know more details and be updated on news about this project you can also visit the Digital2Go website https://www.digital2go.com or join the Telegram channel: https://t.me/locationcore

Alexis Von Loh
Alexis Von Loh
Alexis is the Chief Editor of Crypto Economy, is responsible for reviewing articles, training new editors and implementing new strategies to the editorial team. She arrived in the world of cryptocurrencies in January 2017 and since then has not stopped training and studying about the sector, blockchain and the new projects that appear.
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