25 January marked the end of one of the biggest international expos in Hong Kong, the iFX EXPO ASIA 2018. The main topics this year featured cryptocurrency markets and the ICO boom. The event saw quite a few projects, among them both new and time-tested, including DateCoin. The CEO of the project, Nikita Anufriev, told us all about how his company will change the online dating industry forever as well as what the upcoming ICO has in store for its investors.
DateCoin is getting ready for an ICO in March 2018. The DTC token Presale has already finished late December last year – all 18 000 000 tokens were sold, and the project ended up raising over 2213 ETH.
“Over two thousand people decided to put their trust behind our project and will soon be a part of our revolution in the dating industry, having helped to create an entirely new and innovational online dating service that combines advanced technologies and our extensive experience in the industry” said Nikita Anufriev.
He says DTC is a high-liquidity ERC20 utility token that is based on a successful business model of a dating service, all enabling the token growth thanks to an extensive user base that will reach 12 million people by 2020, according to the project’s roadmap. DateCoin also predicts that in four years over a million users of the dating service will buy the tokens off an exchange to buy premium features. Thus the DateCoin token will be in a constant demand way after the ICO has ended, driving its price in the upwards direction. It is also supposed to bring more people into the blockchain industry as a whole, introducing people who’ve never used it before to the actual application of this technology.
The DateCoin CEO also ensures that the tokens will be supported by the buyback program. The smart contract has a buyback system in place that is beneficial to the clients. The program dictates that 20% of monthly revenue is allocated towards the smart contract, allowing token holders to utilize the buyback system by interacting with the contract itself. After receiving the tokens, the smart contract distributes the money allocated towards the buyback proportional to the amount of tokens submitted for buyback. To put it simply, if the revenue allocated reaches $1 000 000, and there are only 10 tokens submitted for buyback by a certain date, each token will be bought back for $100 000. If there is only one token, it will go for the entire sum of $1 000 000. The bought back tokens are subsequently burned, decreasing the total supply, which further drives their market price upwards.
When speaking of the dating service industry as a whole, Nikita Anufriev points out that the global market segment for online dating is growing year after year. According to experts data, the market is now evaluated at over 5 billion dollars, with the potential to reach over 6 billion next year. While almost a quarter of the global population has used a dating service at least once, and 7% are using them on a regular basis – as the digital technologies infiltrate our daily life more and more, online dating is only going to capture a bigger chunk of the market, especially with better technologies becoming available for the general public. This ensures that a highly-competitive product able to solve the pertinent issues of the dating industry will be welcomed with open arms, DateCoin CEO believes.
He also believes that existing dating services are facing a lot of problems that get in the way of their ultimate purpose: providing the user with a search result that fits his or her criteria for a partner. Today online dating services users are wasting their time for the most part, since even the most precise query does not guarantee the system will be able to return anything worthwhile. At the same time the user is presented with paid features that do not solve the problem. Another issue is the ubiquity of fake accounts, or catfishing. All these issues are right there on the surface, and so far there hasn’t been found a proper solution for all of them. DateCoin vows to fix the broken dating industry with the help of artificial intelligence algorithms and big data analysis technologies. Specifically tailored to analyse the user’s tastes, the system will provide with the best search results that are almost 100% to suit the user’s preferences. Will such an application be popular with the general public? Absolutely, believes Nikita. If the application is popular, then the DTC token, issued on the Ethereum blockchain, will follow.
The main technologies DateCoin utilizes have also gone through extensive testing in the Denim app (MVP) that has been operating on the market for over two years with an audience of 700 thousand people. Today anyone can install the app on their phone through AppStore or GooglePlay and see its advantages for themselves.
The DateCoin ICO starts March 2018, in the meantime you can take part in the PrivateSale on DateCoin.io