Blockchain News

Singapore Based Digital Platform To Use Blockchain Technology To Alter Digital Commerce Industry

Singapore Based Digital Platform

A Singapore based unified digital commerce platform Olife is to alter the digital commerce landscape by increasing its services with the help of blockchain technology. It is expected to launch its own digital currency called the Oliffe with the Token naming OLIFE. The currency will be used in Olife ecosystem and traded on the cryptocurrency market. This will definitely add value to the industry.

The blockchain technology allows Olife – a multiple purpose digital commerce to utilize its mobile payment application, messaging, social media app. With this, Olife concentrates two major concerns that each user is facing are trust and transparency.

The platform is built on B2B2C digital commerce solutions provider with the smart contract technology in place that allows the hosting of master nodes as well as wallets staking. Those who are motivated users that would use OLIFE tokens to perform valuable actions. Because these tokens are valuable that can be used inside and outside of the application. Additionally, Olife will let the verified businesses to take part and purchase into an ecosystem of customer engagement and consumer market. In short, it will redefine how the businesses and consumers are connected and will streamline the business transactions more valuable.

In today’s competitive world, hardly anyone that has not used the app so far. In 2018 there are more than 5.8 million apps sprawling across Apple’s and Google app store. The smartphone users alone use 30 apps monthly. The app has been downloaded to a larger extent. The major benefits of using Olife, users can use only one app platform instead of multiple apps to explore numerous functions like payment settlement, business management, friends chat, mobile games, etc.

Besides, Olife wants to offer its users the best way of monetization process through decentralized networks. It uses highly sophisticated approach instead of the traditional models use. This will make sure that all those involved are rewarded for their respective efforts in order to distribute economic value.

There are numerous functions that the Olife has in place as follows:
– Corporate accounts where business users register themselves for their corporate accounts with Olife in order to communicate with other traders within the ecosystem to execute numerous business functions.
– Professional and Personal accounts management where users can build both the accounts as per their necessity. It lets the users to be separated from the two world.
– Olife payment where it allows to create wallets for each user account as Olife Pay. It consists of a spending wallet and staking wallet. With the help of Olife Wallet, a user can execute OLIFE transfers to any user or make payment for any products or services.
– Mobile Gaming where the Olife gaming platform introduces a variety of creative games that help engage with the community. On this platform, the users will be rewarded with OLIFE for both reward and scores that they receive from the games that they play.
– Chat functions where Olife offers numerous services like communication services, voice messaging, video calls, games, conferences, text messaging, photos sharing, location identification among others.
– Geolocation function – O Zone function where Olife offers the mainstream services for digital marketing activities based on the physical location of users. The function can be used for a retail discount, restaurant promotions, etc.
Technically speaking, the OLIFE token is created on the largest crypto platform called the Ethereum platform until its own proprietary network and blockchain is organized. This will surely add value to OLIFE with the efficient speed and token liquidity in place that will make users happy as always.

On the Ecosystem front, the Olife is created on six core pillars naming, Proof of Economic Activity, Advertisements, and Rewards, Proof of Stake, Professional and Personal Account, Cross-Chain Interoperability among others. When combining all these under the one roof establish a very good synergy between commerce functionalities and digital communication on the platform.

With this, Olife’s blockchain technology alleviates an open collaboration for businesses across geographies. Business can configure their side chains and merge the cross chain consensus by loading data which are able to be operated across both the chains.
Olife is surrounded by the blunt and sharp people in its team naming Anthony Koh who handles advisory function in payment solutions. He is also the co-founder and chief executive officer of MC payment which is a leading financial technology and business platform services provider specializes in assisting non-cash payments across Asia Pacific region.

An excerpt from the statement given by Joseph Lin, Co-founder of Olife, “We envision Olife to be a self-sustaining ecosystem, where users are able to weave seamlessly between their personal and professional lives securely, thanks to the benefits of decentralization. Olife will be the all-in-one app for people to navigate their lives,”

In a nutshell, Oife will be organizing its introductory event called “Olife Connect” at Golden Village theatres in Vivocity in Singapore on 8th August 2018. The event will focus more on Olife app as well as it will show the ecosystem that can be joined as an early adopter. The whole event is chaired by veterans from cryptocurrency and blockchain industry.

Let’s not forget that the blockchain technology when combining with information technology or artificial intelligence or any other perspectives, it always creates a mark in the digital world!!!

John Gage
the authorJohn Gage
John Gage joined CoinNewsPulse as a subeditor and analyst, with five years of experience as a technical analyst across cryptocurrencies and exchanges. He has keen interest in economic research and latest crypto based solutions for seamless trading experience. He loves to curate pieces of technical analysis, reviews on leading cryptocurrencies and various exchanges.

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