The cosmetics and beauty market has continually grown over the years with a steady annual growth of 3% annually. However, within this market, many companies have entered a zero-sum game as they have nearly identical products, brands, and sales channels. It is becoming difficult to find players that provide personalized and differentiated products or services that cater for tastes and qualities of individuals that are outside the average user’s taste.
Additionally, it is difficult to differentiate real information from fake or manipulated information as most of the current cosmetic content is often funded and sponsored by the cosmetic firms. Another challenge is that only a few influencers are benefiting or being rewarded for their contributions to different platforms. The last challenge is that security of shared cosmetic information is threatened by attacks from hackers and other online criminals.
What Is Cosmochain?
Cosmochain is a platform created to address these challenges. The platform connects cosmetic product users and content creators to cosmetic product suppliers. It connects customers and firms through a beauty ecosystem that is beneficial to all the parties involved. The platform provides solutions to customers and companies alike by utilizing the power of the data on the Cosmochain ecosystem. The platform collects and processes reliable beauty data from customers providing a customer-centric on-demand service.
The platform can also be used to safely store the participant’s database by use of the Cosmochain’s blockchain technology. This ensures the integrity of data and motivates the customers to come up with a reward-based community.
The platform also uses an appropriate reward system that evaluates the contributions of the participants to the ecosystem in a transparent manner. The more actively you participate in the Cosmochain ecosystem, the more rewards you get.
Cosmochain Blockchain Beauty Cosmetics Skincare Advantages
If a company makes use of the information provided and created by customers, the information creators are rewarded. The use of blockchain technology allows the reward system to be transparent.
Sharing Of Rewards
For business models that self-create extra values using the information provided, they will share the rewards with the content providers in order to continue improving the platform.
The participants in the Cosmochain ecosystem contribute to the stability of the platform due to the use of the customer’s data and due to their active participation on the platform.
Two different tokens make up the Cosmochain ecosystem. The Cosmo Coin is the first token that can be traded externally. Individuals use Cosmo Coin to buy the second token-Cosmo Power that is needed for platform activities. Cosmo Coin also acts as a medium of exchange to convert Cosmo Power acquired to other currencies.
The second token is referred to as Cosmo Power and can be used to make payments within the system and give out rewards to participants for the provision of information on the platform. It is also a measure of contribution on the Cosmochain platform that can only be acquired through the contribution of activities within the Cosmochain platform.
Cosmo level is the indicator and measure of users contribution to the Cosmochain ecosystem. The level is determined by the total Cosmo Power tokens accrued in a given time window. Cosmo level can only be accumulated by activities within the Cosmochain platform.
Cosmochain COSMO Coin ICO Details
The total COSM tokens supplied will be 1,000,000,000 and 30% of these tokens will be offered in the presale and crowd sale. The valuation of the tokens is 1ETH=10,000 COSM.
Article originally appeared on Bitcoin Exchange Guide. Featured image via Cosmochain.