Russian-based company The Business Molodost recently announced the beta version release of the BMCHAIN project vault, a solution built on the premise of BM Radar, an online messenger application that is currently being used by over 25,000 tycoons and magnates worldwide.
Having already presented the initial interface of the “Wallet” section on its first version, the software will allow its users to start working with their tokens. Users can also do a wide array of operations including deposits and transfer between other users, and the platform will be introduced to iOS and Android operating systems soon.
As of the moment, tens of thousands of people use BM Radar messenger worldwide, and by the end of this month, it will be available for about 33,000 people more by way of receiving BMT on their BM platform.
Combining the usefulness of a messenger with the advantages of mobile banking, this software provides the best of both worlds in your pocket. Additionally, users can also view their transaction history, as well as an index for support and information services. The developers also plan on adding an array of special offers in the form of cards with services and goods in the future, which can be purchased using BMT Tokens.
Initial predictions of the developers state that launching a digital wallet of their own will bring more popularity to their token and in turn possibly push more people to use their token since as of the moment the needs of the token holders have no centralized solution.
Test runs for the mechanics of BMCHAIN platform’s first version are expected to be released by the end of this year. In this, users will be able to receive tokens as a reward for authoring posts and voting for what they think are the most interesting materials. In total, over 33,000 active people are involved in this experiment.
This release was originally scheduled to be postponed at a later date, but was then delayed at an earlier time due to growing demand of its target audience, as well as the need to make sure word about it gets out before it enters the exchange.
The implementation of work with a scale this large in such a small amount of time became possible due to the participation of the Business Molodost community of users, who in turn has demand for the creation of a self-developing infrastructure this big and powerful. The purpose of this project was to test how successful the blockchain industry can be in this day and age of widespread internet use. The result: a high number of people who are previously unfamiliar with digital currencies getting involved, meaning that this platform can indeed reach a bigger audience, and can be soon introduced into the global market.
BMCHAIN’s first version
This version of the BMCHAIN will involve two units – a BMT token, and a reputation score. The user’s “reputation” will then be built on given votes from other users who choose which content is most interesting for them. In the future, when forming the user’s rating, it’s also being planned to take into account their activity scale in order to encourage the constant flow of its users and enhance the capitalization of the project.
From an economic point of view, it will also be possible to monetize time spent on the internet, as well as construct quality business and human relationships that will profit everyone in the long run. This is all thanks to the advantages that such an environment provides.
Additionally, users can also sell, exchange, or use their tokens to buy the goods and/or services of BMCHAIN partners, as well as get an easy storage system with the help of their wallet.
The BMCHAIN network’s also expected to involve merchants like cafes, shops, restaurants, and companies that will be paid BMT tokens (either partial or full) for their services and goods, introducing a wider network that can potentially reach a bigger market than initially intended.
Another option on the basis of BM Radar will be an option that enables a user to thank other users via connection of their phones.
“Our goal is to provide the first sales to the partner network of coffee houses and restaurants using our application completely in the legal field together with the BMCHAIN project. Thus, creating an example of a new loyalty system and an ecosystem of tokens with their use on an everyday basis. Anticipating possible remarks that there are places that accept Bitcoin already, I note that in our case such implementation will have a positive economy for the payer, “ states Alexander Sagoun, executive director of Business Molodost, a partner company of the BMCHAIN project.
The BMCHAIN team is now actively preparing to launch their project, and the source code of their platform will be published on Github within a few weeks.