At the 2018 Blockchain Connect Conference, Andy Tang from top Silicon Valley venture capital firm Draper Dragon said that when you see a unicorn, it is already too late to catch it.
You need to discover and nurture it before it grows.
The term unicorn refers to a start-up company valued at more than a billion dollars, typically in the software or technology sector.
Among the plethora of start-ups in the blockchain industry, Linfinity appears poised to be the next unicorn.
Here are some reasons why:
Promising undergirding technology
A unicorn is born to be one. To spot a unicorn, you have to get down to the fundamentals. The start-up needs to have sound business logic and offer direct remedies to pain areas in the industry from the very beginning.
Linfinity offers a promising solution for eliminating counterfeit products with blockchain. Under Linfinity’s vision, if every segment of the product’s circulation can be automatically recorded, it will save untold quantities of labour and costs.
It uses a combination of public chain and alliance chains to provide tailored solutions. Each alliance chain is tailored to fulfil each partner company’s needs. Linfinity’s strategy of leveraging on alliance chains to provide customised business solutions makes it stand out from its competition.
Anndy Lian, CEO of Linfinity, said, “Within the Linfinity ecosystem, suppliers, distributors, retailers, and consumers all have distinct roles to play. When the product is in circulation, they upload the product’s information onto the blockchain. Blockchain ensures that the information is accurate and immutable. Once a counterfeit is spotted, its origins can immediately be traced. When it comes to digital signatures, all participants are unable to manipulate the system.”
Linfinity’s public chain uses a combination of proof-of-work (POW) and proof-of-stake (POS), which is similar to Ethereum Casper, the latest upgrade to the Ethereum network. Hence, it is evident that Linfinity is ahead of the technological curve.
This feature increases the public chain’s Byzantine fault tolerance (BFT), which refers to the dependability of a fault-tolerant computer system, particularly distributed computing systems, where components may fail and there is imperfect information on whether a component is failed.
Notably, Linfinity’s public chain cannot be forked, as miners only have the right to mine new blocks using POW and POS.
Speedy growth through partnerships
Industries where counterfeit products are rife spend millions of dollars to counteract the issue. Business organizations spend a lot of money, time and resources on protecting their brand and trademarks, yet the problem still persists. This is especially so in cosmetics and cigarettes, industries where Linfinity is already actively forming partnerships with.
Linfinity is expanding its reach through partnerships, like Taiwanese cigarette brand Alishan, Singaporean law firm RTH Law, and health products company Scientific Tradition.
There are many near perfect supply chain management systems out in the market today. But Linfinity stands out in integrating blockchain technology with the supply chain, and leveraging on blockchain to increase the supply chain’s transparency.
Linfinity is testing a mobile app for consumers and companies in the supply chain. Through Linfinity’s mobile app, every stage that a final consumer product goes through in the supply chain can be easily viewed. It fixes the problem of traceability, which many industries are grappling with.
The mobile app is great for improved usability as well, which makes it more accessible to the masses.
The LFT token distribution system is noteworthy. Only 10% of LFT is reserved for its angel investors, and 15% belongs to the founding team, while 5% is used as vulnerability reward. The remaining 70% is reserved as a reward mechanism for its community and implementation of its commercial uses. Besides purchasing LFT on exchanges, the main ways to get your hands on the LFT include actively participating in Linfinity’s community, creating content, and contributing to its open-source technology.
“We focus on the sustainability of our ecosystem.” Anndy said, CEO of Linfinity, “Such a system is designed to maintain the credibility in the community, and it strives to be effective in aligning different stakeholders’ goals to a shared vision.”
Now, LFT was listed on CoinEx, one of the largest cryptocurrency exchanges. Hence, LFT’s value has not been unleashed yet. In the future when it starts appearing in more exchanges, normal investors will have a chance to join the community as well and reap its potentially rich dividends.
From evaluating various aspects of Linfinity, such as its technological framework, business uses, and token mechanism, Linfinity appears to have huge potential in ascending through the ranks and turning into a real unicorn.
If that is really the case, take Andy Tang’s pearls of wisdom to heart and seize the chance while the unicorn in the making is still undervalued.