With the advent of the internet, online marketplaces have evolved into robust epicenters for everyday commerce. These commercial ecosystems function as aggregation services and vertical businesses complete with high commissions and fees. The goal? Utilize a centralized model to create troves of loyal, dependent market participants whose personal buying data can be manipulated to contribute to these commercial businesses bottom line.
Pocketinns aims to disrupt this prevailing space by ushering in the world’s first decentralized blockchain-based, community-driven commercial ecosystem.
Known for its innovative approach to home and accommodation rental model, the Pocketinns ecosystem allows buyers and sellers to exchange services and products directly under a decentralized ecosystem without fees or commission. Now, Pocketinns plans to expand into a comprehensive decentralized marketplace that features services such as ride-sharing, peer-to-peer car sharing rentals, travel, ecommerce, food and grocery delivery, financial and real estate services and many others.
To financially support its plans, the company will employ a monthly subscription setup similar to that of Netflix. Moreover, an internal financial support network will be established and transacted through the community’s proprietary currency known as Pinns which would be an additional area the companies hopes to monetize to support itself.
Unlike prevailing online marketplaces, Pocketinns intends to ensure full privacy by giving itself any access to its user’s data. Furthermore, Pocketinns wants to ensure there are no geographical barriers and its network is accessible in any locale where there is a possibility of a buyer and seller.
“Our goal is to become the operating system for a alternative digital economy where trade and commerce can still occur in a organized and profitable manner without users having to worry about their security and privacy,” Sarva Mada, the founder of Pocketinns told BTC Studios.
Mada says that the first phase of the company, Pocketinns 1.0, is already live and functioning well with 3700 community users. He notes that they will be implementing the mobile platform, with efforts over the next 12 to 18 months, particularly focused on the ridesharing, peer-to-peer car rental, ecommerce and the implementation of the first element of the Pinns financial network.
Benchmarking ICO Compliance
In preparation for their January 15th 2018 Initial Coin Offering (ICO), Pocketinns has taken the regulatory secure route by being a securities exempt offering for accredited investors with the U.S. Securities and Exchange Commission.
While Mada admits he is aware as to whether “doing things the legal way” is necessarily the most certain way to protect investors, he has unwavering determination to do things in the most legitimate way possible.
By avoiding presales or bonuses that often result in pump and dumps, he believes Pocketinns will be avoiding opportunities that have given the ICO funding approach such a questionable reputation.
“The ICO itself is 506c, Reg D. So, unlike most ICOs, we are following the SEC requirements when it comes to raising funds in the U.S.”
He notes that the company founders are majorly and personally invested in the project along with some angel investors from the last two years. Also unlike most ICO projects, Pocketinns is not a solely white paper-based project. For instance, the first part of Pocketinns 1.0 is already live and available to the public.
Democratic Digital Ecosystem
Overall with his team, Mada maintains resolve that his companies approach is the best for long-term success.
“Our end goal is to create an online digital ecosystem that is truly democratic with the community ultimately driving the platform’s value.
As a result, it was important for us, from the very beginning, to follow securities law, protect our investors and to have a legally compliant ICO. We are building for the long haul and can’t let legal distractions take our focus away.”