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Startups

BLOCKv Brings Experiential Economy to the World

A blockchain platform, BLOCKv is making its mark on the crypto world as it launched its Platform and Developer Portal, earlier this year in March. The portal enables individuals to build dynamic, scarce and smart virtual objects that have value both, on and off of blockchain. 

What is BLOCKv?

BLOCKv is a digital goods blockchain platform built on Bitcoin, Ethereum and other blockchains to enable scarce interactive digital goods and objects that can be valuable, tradeable, programmable and even collectable.

BLOCKv aims to transform the world’s relationship with digital value. While blockchain has already changed what can be digital value, BLOCKv is making that digital value, tokens, interact with the end user in a meaningful way.

It is adding the experience to the token.

Said CEO, Reeve Collins.

According to its whitepaper, BLOCKv paves way for the new experiential economy and enables its users to create virtual goods that:

  • Work across any digital platform, including all major devices and virtual and augmented reality systems, allowing users to experience and sell, trade and redeem them anywhere they have access to the internet
  • Are ownable, maximizing the value/experience for the owners
  • Are built on blockchain technology, ensuring authenticity, ownership, and control
  • Merge the digital and real worlds, giving users a way to seamlessly exchange digital goods for physical goods.
  • Are distinguishable and unique on a per object level, which even today’s cryptocurrency tokens are not.

BLOCKv’s new platform promises to guide the next generation of virtual goods economy, which is rather vast including industries from gaming, advertising, ticketing, AR/VR to healthcare, identity, cryptocurrencies and more.

The platform provides the digital building blocks to developers so they can create, fully programmable and easily obtainable digitals goods, with the real-world value. Those are also immune to fraud and serve as a bridge to connect the digital and the physical world. It also lowers the cost and time to the market, all the while reducing the complex front to blockchain applications, thus providing accessibility to the developers.

BLOCKv has also transformed the digital token, the new term they have for it is, vAtoms, which are tokens but they have app like qualities.

BlockV is a protocol that maintains vAtoms and provides developer tools so any developer around the world can easily create, distribute, and monetize this new asset class, vAtoms.

Said Collins, while also mentioning that a programmable token with multimedia qualities opens up further use cases of tokens, than just being limited crytpocurrencies.

vAtom aims to give a more broader meaning to the term digital objects than just digital currencies, objects that retain all the characteristics of a digital currency but now with a highly intelligent feature set, thus giving innovating a new class altogether.

vAtom’s Functions

Very much like the traditional meaning of atom, whereby they are the building blocks of the universe similarly, vAtoms are the building blocks of a world where the digital and the virtual goods can be anchored by blockchain. Basically, vAtoms are scarce as well as unique digital objects that can be acquired, traded or redeemed by the customer.

The website explains vAtom through the following example, imagine that instead of being bombarded with messages about “coming fall drinks” you could instead use your smartphone to hunt for AR-based vAtoms creating a fun experience to interact with a product you enjoy. You could then use these vAtoms on your smartphone to enjoy an actual free coconut latte at the local coffee shop from a promotion.

 Since vAtoms are based on software systems, they are pretty much only bounded by the capabilities and imagination of the developing team. The vAtom is capable of doing almost anything that a software can be programmed to do. The possibilities are endless when rich multimedia graphics are incorporated, its almost as if the object has literally come to life.

Attributes of a vAtom

Finite

Owing to their scarcity, the vAtom’s are inherently valuable. They maintain their finite quantity no matter how many times they are traded or shared, or how long they have been held. Because vAtoms cannot be counterfeited, precise quantities are maintained at all times.

Authentic

The value of a vAtom can be demonstrated by its authenticity. The creation, existence and authenticity of a vAtom can be proven at any time and verified through the blockchain.

Transferrable

vAtoms are easily sharable across mobile devices. They can be transferred to and received from others as a gift, trade, or transaction.

Possessable

A powerful feature of the vAtoms is that it can be programmed to be possessable. Unlike other digital goods that can be duplicated and devalued, whoever is in possession of a vAtom owns it.

Traceable

The blockchain provides vAtoms with a traceable history. The chain of title allows you to trace the ownership, activities, and geographical paths throughout the vAtom’s life cycle.

This makes for a reliable platform for rewards-based advertising where consumers are given incentives for both, their actions and those in their downline.

Programmable

vAtom’s functions and actions are programmable in JavaScript and HTML.

Combinable

Multiple vAtoms can be combined to create one vAtom of higher value. These can be collected from various physical locations or by performing an action (such as sharing).

Redeemable

Many vAtoms hold value and represent goods in the real world. They can be redeemed for physical goods at a store or for an experience with a service provider. A Coca-Cola vAtom can be redeemed for a bottle of Coke in a store, or a Nike vAtom can be given as a redeemable birthday gift.

Artificial Intelligence

vAtoms have the intelligence to become aware of their surroundings and what is happening in the world. They can be programmed to react to or perform actions based on external events in the real world.

The company spent three years developing the platform and raised 72,000ETH earlier in 2017 through its token sale. The Platform and Developer Portal’s release is the first milestone in company’s roadmap and staged roll out.

Abeer Anwaar

Abeer holds a Bachelors degree in Media studies and covers blockchain startups for BlockPublisher. An optimist, excels in the art of the written word and swears by the joy of all things sweet. Contact the editor at editor.startups@blockpublisher.com

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