The cosmetics and beauty market has continuously developed over the years with a steady yearly increase. But, within this industry, several companies have begun a zero-sum game as they have almost identical products, brands, and sales channels. It is becoming hard to obtain players that implement personalized and differentiated commodities or services that provide for tastes and features of individuals that are outside the regular user’s taste.
Cosmochain is a platform designed to approach these challenges. The system connects cosmetic product users and goods creators to cosmetic product suppliers. It connects customers and businesses through a beauty ecosystem that is advantageous to all the parties included. The platform renders solutions to customers and companies associated by using the power of the data on the Cosmochain ecosystem. It also gets and processes reliable beauty information from customers providing a customer-centric on-demand service.
What is Cosmochain?
Cosmochain is a parallel Company-to-Consumer platform that joins cosmetics product users and content creators to cosmetics product suppliers, including cosmetics companies, OEM/ODM manufacturers, R&D centers, and merchants. Within this platform, the Cosmochain Team strives to resolve the aforementioned unmet necessities of both companies and customers. All data received from platform participants are held confidential in this customer-centered ecosystem. Those who share their scarce time and attention to producing and curating contents for others are rewarded with tokens and receive pro-rata ownership of the contents they produce. On the other hand, cosmetics product suppliers can achieve a broad variety of “on-demand” services on the platform by using API that Cosmochain provides.
The Advantage Of Cosmochain Platform
If a business uses data provided or created by customers, the information providers receive rewards with utilizing blockchain in a completely open manner.
For business models that self-create extra values utilizing such data, both the platform and data generators shall distribute rewards to resume the development of the platform.
Company participants provide to the steady operation of the Cosmochain ecosystem by actively and equitably using customers’ data.
Cosmochain’s Token Model
Three different asset types comprised the Cosmochain ecosystem: two tokens controlled by the blockchain (Cosmo Coin /Cosmo Power), and (Cosmo Level) a third in-platform index for displaying the participation level inside the platform.
● Cosmo Coin: Cosmo Coin is the principal means of economic activity and trade in the Cosmochain platform. To businesses, Cosmo Coin is applied as a method of payment for using different solutions within the Cosmochain platform. To individual contributors, Cosmo Coin is adopted as a means to acquire Cosmo Power necessary for in-platform activities and serves as a medium of exchange to change Cosmo Power earned from activities into other currencies.
● Cosmo Power: ‘Cosmo Power’ can be taken by exchangin from Cosmo Coins or within community participation (e.g., posting feebacks, voting up and down posts), and it denotes the level of contribution to the platform. Therefore, Cosmo Power can be utilized as an index of power within the community which concludes how much compensation will be given and when collected or purchased Cosmo Power can be applied to purchase products inside the Cosmochain platform’s Marketplace. Depending on the level of participation, Cosmo Power holders are presented with “Activity Credits.” Users who yearn to tokenize Cosmo Power have the choice to convert Cosmo Power to Cosmo Coin within a 30-day vesting period.
● Cosmo Level: Cosmo Level is a pointer and measure of a user’s participation in the Cosmochain community. The whole amount of Cosmo Power defines cosmo Level gathered in a moving time window. Cosmo Level cannot be bought by Cosmo Coin or converted from Cosmo Power – activities inside the platform can only attain it. Depreciation is applied to Cosmo Level through an exponentially weighted moving average (EWMA), which supports active platform activities.
The Cosmochain Team outlines to advance the Cosmochain platform based on the following schedule:
● Mar 2018: Whitepaper Ver 1.0 Release, Cosmochain POC Release
● Apr 2018: Meet-up Sessions (Time and Location: TBA)
● Apr 2018: Private/Pre-sale
● May 2018: Crowdsale
● Q3 2018: Alpha Release
● Q4 2018: Soft Launch
● Q1 2019: Closed Beta Release