There are many new inventions in the blockchain industry, some solving issues in society while others are creating bigger messes in the process.
Among the one of the far-reaching projects is one known as MapCoin.
MapCoin's team have managed to create a technology that collects data for autonomous vehicles and mapping industry.
It's a platform that allows companies to collect the needed data by creating mapping tasks. Once a company creates a mapping task, the company then lists the mapping task on the website then registered users can accept the tasks to collect data.
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Accepted Payments: ETH
Sale Amount: 380,000,000 MAP
Exchange Rate: est $0.10-1 MAP
Soft Cap: $ 1,000,000
Hard Cap: 25,800,000
Private Sale: Until End of August
TGE - Pre Sale: Until End of September
TGE - Public Sale: Starts October 1st
Token Contact Address: To Be Announced
Registered MapCoin users get rewards with MapCoin tokens; MAP, for successfully completing the tasks.
The company is currently holding a private sale and people are still sending their details to participate in the sale through the whitelist on their platform. The pre-sale and public sale will soon be opened once the private sale is over.
MapCoin’s whitepaper has clearly outlined where their technology can be applied.
According to the white paper, collecting these forms of data is not always easy.
One needs to go through various processes before the data can be ready to use.
MapCoin claims to have created a solution that makes data collection cheaper and less time-consuming.
Companies dealing with automotive, OEM, insurance, logistics, oil or gas and mapping companies can now get the needed data to improve or add products to the market by simply using the MapCoin platform.
The company hopes its technology will help get the necessary data to allow the release of level 5 cars.
Currently, the automotive market is in the early stages of releasing level 3 cars.
Mapcoin hopes to have 100% automated vehicles sooner than the estimated time in 2030.
MAPCOIN Team Overview
MapCoin has a big team in place to run it's operations.
One will get impressed by taking a closer look at the company’s main team.
The team has been together for the last ten years.
During this period, the team managed to launch the free navigation on the iPhone using OpenStreetMap, which have been used by more than 25 million people across the globe.
The team also managed to create a new approach to Autonomous vehicle mapping.
MapCoin still has an open post for the head of design, community growth, and social media person.
There are two co-founders; Matt Thornhill, the chief executive officer and Ben Keogh, the business developer.
Ben has 20 years experience of delivering software and digital products and has worked with Disney, WPP and FT.Com.
How Does The Token Work
The company has a token to enable it to achieve its dream, the token with the symbol: MAP will allow peer-to-peer payments.
The token will be used to reward MapCoin data creators.
Token holders will be able to create mapping task and pay data collectors using the tokens on the platform.
One billion tokens have been created with only 38% of the MAP tokens up for sale currently. Of that, 35% will be for community reward, 19% will be allocated for the MapCoin team, 5.5% for marketing and 2.5% for legal purposes.
Token holders will be able to exchange the token for $0.10 for 1 MAP.
The ongoing private sale is expected to close by the last week of August.
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How The Investors Make Money
If the MapCoin proposal is as big as is stated out, investors stand to gain a lot of money.
The proposed technology will have huge potential especially because the technology stands to win big wigs like Google and many other autonomous vehicle companies.
High demand for the technology will cause an increase in the token value, which can earn great profits for the investor.
Investors will also get the opportunity to participate in the process by creating mapping tasks for the collectors.
MapCoin also promised to refund the money to the investors if they fail to reach the soft cap during the TGE.
They, however, will not refund money collected from the private sale.
Opportunities & Risks
Due to the scarcity of jobs, many people have resulted in taking up small tasks online to earn a few bucks.
Some have managed to make a living from taking up online tasks from various providers.
By incorporating a system that allows people to get rewards after taking up a mapping task,
MapCoin has the potential of spreading out fast.
People love participating in their investment and this is a good way for both the task collectors and investors to grow the token and make actual changes in the society.
Additionally, people love autonomy and getting the opportunity to bring futuristic visions into realization. I mean who does not love the idea of an automated car.
On the other side of risk, another company might corner the market and offer additional services causing people to use the other services.
This, however, will not hinder MapCoin from spreading out as there is enough room in the market for more than one player.
ICO SIGNALS :
With a closer look at the whitepaper, the team and the background of the project, one should consider all variables to any project.
The decision remains on the investor; the team looks legit, unlike many ICO projects that have ended up being fraudulent.
The project has potential, especially among the online job communities. People will be willing to take part in the project just to make a living.
The others will invest to see a better and simpler future.
Which one are you?