Nowadays, blockchain is mostly known for currencies, but the future of blockchain is going to look very different. So, in order to gain a competitive advantage, many companies are on a quest to provide solutions and service offerings on the blockchain. Strategic management wants to capitalize at a fast pace, however, low level blockchain solutions are complex and are not quick to implement. To keep up with evolving technology and align with strategic goals of their respective companies, developers are trying to create their own decentralized applications using non-fungible tokens.
Developing applications for blockchain and non-fungible tokens currently takes a long time and is prone to security risks, which in turn increases costs and hinders wider adoption. If we keep going down this route, the result would be a fragmented ecosystem with no common ground with huge barriers to entry.
Imagine having all your academic certificates, land title, ID documents and artwork certificates online, each asset represented by a unique token. These are all stored in a ‘digital wallet’, which you control using a private digital key (akin to a password). For example, if someone wanted to authenticate artwork or validate a degree, they could easily do that through a simple decentralized application. By enabling this verification process, 0xcert will help resolve numerous problems associated with proving provenance and authenticity.
The vision of 0xcert is to provide an open protocol for standardized and certified non-fungible tokens to a wider tech audience. Non-fungible tokens (NFTs) provide a unique proof of ownership available on the blockchain. With 0xcert’s global and diverse team, including one of our advisors, William Entriken, the main author of the ERC721 standard for non-fungible tokens, applications can be built on top of the non-fungible token standard, employing a complete toolset, development framework and a set of conventions for various use cases. In addition, a wide range of decentralized applications and business models can be supported, giving companies the power to fully utilize the potential of blockchain technology.
A closer look at the future
The advent of blockchain has redefined technology and set the course for the future as we keep building a more digital society. But despite being an amazing technology, it is complex with a complicated series of steps that can create something incredible.
0xcert’s mission is to equip application developers with a secure blockchain settlement, powerful tools and community-embraced conventions for managing non-fungible tokens. Their protocol extends the non-fungible paradigm with an opinionated certification and standardization layer for unique assets, which is based on the 0xcert conventions. This allows for creating certified non-fungible tokens on the blockchain, which also carry an imprint of a real-world asset.
The protocol supports a wide range of uses where non-fungible assets and ownership play a role. And because the data are stored in decentralized blocks, the information can be fully trusted and verified by anyone and anywhere.
The 0xcert protocol is an open-source project, which allows anyone to use it without limitations. The protocol uses a publicly accessible network of digital wallets and smart contracts on the blockchain, making it accessible through third-party modules and a variety of dapps. And developers can manually mint, burn, verify and transfer Xcerts.
These applications sit on top of the protocol and can use tokens as fuel for their services.
The 0xcert protocol brings together various actors from different segments and organizations. Creating a healthy ecosystem, through establishing mutually beneficial partnerships, will be one of the vital drivers of progress for the organization. Building strategic alliances with complementary organizations, companies and individuals can increase the value of the 0xcert protocol and widen its integrational scope even further.
0xcert is building partnerships with stakeholders, which are relevant to its success both in the short-term as well as in the long-term. 0xcert has already established partnerships with world leading advisory firms, various blockchain organizations, and startups. Furthermore, several distinguished academic institutions have recognized the value of 0xcert’s new protocol. 0xcert has joined the European Union funded Erasmus plus project introducing micro-credentialing in higher education, led by a consortium of organizations and institutions including Knowledge 4 All Foundation and Jozef Stefan Institute.
Future partnerships will be announced on a rolling basis as we strive to create meaningful and impactful relations with key stakeholders that can further improve the protocol or can assist in various verticals in which the key stakeholders specialize.
The 0xcert Token Distribution Event will take place June and July 2018. Public Pre-sale event will start on June 26. The ICO aims to raise funds by selling tokens (called ZXC) to buyers and developers, which will be used for various utilities within the protocol ecosystem.
0xcert token sale consists of four stages: Pre-ICO (early buyers), Private Presale (larger buyers), Public Presale (10% discount) and a Public Crowdsale. In case the allocated number of tokens for each step is not sold in the assigned stage, they are carried over to the next stage.