ALIS is a Japanese initiative that uses blockchain technology to help people find trustworthy information.As cryptocoinnews.com reported, the user
ALIS is a Japanese initiative that uses blockchain technology to help people find trustworthy information.
As cryptocoinnews.com reported, the users of ALIS will use tokens to “endorse” posts. In exchange, they will be rewarded with addiional tokens depending on their contribution to identifying quality information, as cryptocoinnews.com made clear. Also, the authors of the “endorsed” posts will receive ALIS tokens, as the online media explained.
Japan is reportedly known for its high rate of social media adoptation, as well as an exceptionally high rate of bitcoin adoptation.
However, one major problem is the lack of reliable information in the field. ALIS founders believe that the advertising-based model of social media is the main problem. For this reason, they suggest a new model based on user rewards with cryptocurrency tokens.
ALIS is inspired by STEEM, a decentralized social media platform that rewards users for delivering commentary, images, videos, and articles.
Still, the publication noted that ALIS founders differentiated themselves from STEEM in three different ways.
- Firstly, ALIS will use only one token instead of three different tokens.
- Secondly, ALIS is created by a Japanese team that created a product for the Japanese market.
- Thirdly, ALIS aims to be a trustworthy platform for people in the business-to-consumer and business-to-business markets, as cryptocoinnews.com wrote in their report.
The ALIS ICO began on September 1 and will continue until September 29. As cryptocoinnews.com reported, the minimum funding goal is 11,666 ETH and a hard funding cap of 125,000 ETH. ALIS is expected to launch a beta version in April 2018.
The company is reportedly issuing a total of 500 million tokens, a maximum of half (250 million) will be sold during the ICO, according to cryptocoinnews.com.