Technology is fast progressing towards a time where all businesses will either be digitalized and conducted online. From online shopping sites like Amazon to online taxi services like Uber, it almost seems like every human need is a click away. One of the most recent technological advancement in business towards an easier and better life is the Inserviss platform.
Inserviss Platform is a decentralized marketplace built on the blockchain technology designed to create a convenient and modern-day solution for day to day interactions between service providers and their potential customers. Essentially, the platform allows service providers to set up their profile, publish the services offered, pricing and work schedule, carry out promotion and loyalty campaigns, and manage orders and feedback from customers. Consumers on the other end can search for service providers in their area, place their order for the services, book appointments at their convenience and make online payments for services rendered through the platform. All transactions on the platform are completed using the native cryptocurrency of the platform – Setcoin. Inserviss platform is based in California, USA and was founded by Igor Perepelychnyy and Elena Perepelychnaya.
Setcoin is a Service Exchange Token based on the Waves blockchain. Setcoin is unique to the Inserviss platform and was created to serve as a means of transaction between service providers and consumers on the platform.
ICO update on Setcoin
Initial Coin Offering is a fundraising tool used to raise capital for early phase start-up projects – like the Inserviss platform. For its ICO, the team issued a total supply of 1 billion Setcoins. The distribution strategy is as follows
- 5% (50 million SET)- pre sale
- 30% (30 million SET) – token sale
- 20% (20 million SET)- team
- 10% (10 million SET) – partners
- 35% – (350 million SET) – 5 years growth
The soft cap for the token sale was set at $20 million with the hard cap set at $100 million. The accepted currencies in exchange for the token are Ethereum, Bitcoin, Litecoin, Dollar, and Euro. The exchange rate is dependent on the currency as shown below;
- 1 BTC = 100 000 SET
- 1 ETH = 10000 SET
- 1 LTC = 1500 SET
- 1 EUR = 12 SET
- 1 USD = 10 SET
The ICO was divided into two stages; the pre-sale and the crowdsale. The pre-sale ICO began on the 1st of November 2017 and ran through a 3 month period till the 1st of February 2018. The main crowdsale was scheduled to start immediately afterwards on the 1st of February and was scheduled to end on the 1st of March. Funds realized from the ICO are to be distributed thus;
- 30% – R&D, salaries
- 25% – Marketing platform
- 20% – Setcoin Reserve Funds
- 10% – Setcoin Marketing
- 10% – Legal, other
- 5% – Equipment office leasing
However, as at the time of this report, there was no further update on the status of the ICO. Nevertheless, Setcoins have been made available on Waves Decentralized Exchange for trade.
The top priority of Inserviss platform is to offer a service marketplace to connect service providers and customers. It charges no commissions on payments while providing transparency and security for all transactions on the platform as well. Inserviss platform is open to any and everyone who has a service to offer from professionals like doctors and lawyers to masseurs and beauticians, as well as the customers in need of those services.