Zug, Switzerland-based BLOCKv has unveiled its blockchain-based development platform that enables the creation of smart, secure, and dynamic virtual objects to dramatically expand the $100 billion industry beyond games, music, and books.
The platform promises to usher in the next generation digital goods economy. If shareable digital goods become more ingrained in the lives of consumers, BLOCKv technology provides an unprecedented opportunity for brands, marketers, and developers to engage with and build stronger relationships with consumers.
Demand for digital goods is expanding rapidly, driven by the rapid rise of digital tickets and coupons, games such as Pokemon GO and Counterstrike, and devices such as tablets, smart TVS, and e-readers.
However, many factors limit the mass adoption of digital objects, including:
- Lack of “ownership” by the end user; digital objects are typically licensed content
- Inability to exist or function outside their original native environment or application
- Inability to cross the divide between digital and physical worlds
- Rampant fraud that diminishes perceived value, erodes branding and inhibits revenues
New ecosystem and economy for interactive digital goods
BlockV enables a blockchain that is imbued with real-world value and can be bought, sold, collected, traded, owned and redeemed. This new asset class can be experienced across all digital environments and bridges the gap between digital and physical worlds. For the first time, digital goods are now finite in quantity and can be trusted to be secure and immune to fraud.
Obtainable from almost anywhere, the objects can be acquired across traditional and social media, physical locations, online exchanges, mobile devices, and virtual and augmented reality environments. The objects are smart and run autonomously with long running processes. They are dynamic, interact with and react to other objects, and can change functions and behaviors based on external, real-world events such as the weather, stock prices, sports scores, and social media trends.
Reeve Collins, CEO of BLOCKv said:
“BLOCKv’s vision is to provide the foundation of a new digital goods economy. These interactive, smart objects leverage the power of blockchain technology to free digital goods from devices, applications and ‘walled garden’ environments, enabling them to securely store value, and become fully ownable, tradable and redeemable in the real world.”
“Freed from the limitations of the past, BLOCKv digital objects transform the landscape of physical, digital and social advertising, micro-transacting, ticketing, gifting and promotions. Businesses and brands will be able to attract, engage and conduct commerce like never before across digital and physical environments – creating new revenue streams, driving traffic and holding attention like never before.”
Future applications include secure medical records that interact in real-time with biomedical sensors and end users across all devices, more transparent and seamless charitable giving, secure remittance payments, and more – all powered by the independent trust and authentication power of blockchain technology.
To accelerate this vision, BLOCKv has signed its first development partner, vAtomic Systems, which is piloting the BLOCKv platform with major brands in financial services, music & entertainment, and consumer goods. The companies will announce brand and technology partnerships in the coming months. Mr. Collins is also involved with vAtomic Systems as Chief Revenue Officer.
As the World Wide Web provided the human interface to the Internet, BLOCKv does the same for blockchain, providing the user interface layer for a dynamic end-user experience. BLOCKv lets you “see” a bitcoin for the first time, taking advantage of the underlying blockchain protocol to make unique, authenticatable and traceable tokens explode with compelling multimedia and interactivity. BLOCKv applications leverage blockchain technologies to provide developers with complete control over the authenticity, scarcity, and lifecycle of their objects. It also enables objects to store real value – in the form of coupons, currency, tickets, and other fast moving virtual goods – without fear of duplication, theft or other fraud.
In order to create and distribute objects on the BLOCKv platform and fund their long running processes, developers acquire and utilize VEE Tokens. Built on the ERC20 token standard, VEE Tokens are an integral part of the BLOCKv open-source development and operational environment, along with API’s, sample code, documentation, developer training, extensive API’s, collaborative community tools, and access to 3rd party add-ons, tools, and frameworks.
VEE Tokens provide essential utility to the BLOCKv ecosystem, providing access, power, and incentive to the global community of creators and developers. BLOCKv will make VEE Tokens available through an initial token offering next month.