The invention of WhatsApp in 2009 revolutionized mobile communications and allowed people across countries send messages over the internet network. This provided a cheaper alternative to traditional messages sent across satellite phone networks and allowed users a more responsive and dynamic mode of communications when compared to email.
Especially with the recent privacy and security issues arising with regards to Facebook, Whatsapp’s level of privacy comes into question since its acquisition by Facebook as the company’s business model is reliant on user data and advertising. Since then, newer messaging apps like Facebook’s messenger, WeChat, Line, Viber, Telegram, and Kakaotalk have overtaken WhatsApp in terms of functionality and security*.
Now with the rising trend of cryptocurrencies, ICOs have gone to telegram for their increased level of privacy and security, as well as automated-bot and supergroup functionalities. Also taking cues from the multi-purpose super messaging app WeChat, where users have access to various functions such as official company accounts, payment services and heat maps, Consentium is the latest multi-purpose messaging app to arrive on the market, specially built around cryptocurrency users.
Consentium overcomes the censorship issues faced by WeChat users especially with regards to cryptocurrency and ICO projects. Consentium also has the added functionality of allowing users to make secured peer-to-peer cryptocurrency transfers on the platform in exchange for services or goods rendered. Messaging is secure via the SHA-256 hash algorithm, and users would have access to a multi-currency cryptocurrency wallet available on the application.
The main drawing factor of Consentium would definitely be their Chat Community Monetization Model, which is an innovative program that incentivizes members to build their own community following. The system rewards users for building quality groups with reputable members and sizeable followings. The people leading the group would need to protect their reputation and curate the information they send out to their groups as their rewards would be linked to their reputation as well. This system keeps the community leaders accountable for the information they spread and penalizes community leaders who spread false information, which is another rising issue in our modern community.
Having raised US$20 million during its private-sale and pre-sale, Consentium aims to raise its hard-cap of US$42 million and is launching their public sale on 15th April 2018. The team comprising of passionate professionals and entrepreneurs, each with at least a decade of experience in their respective fields, are more than capable to deliver on their promises. Consentium is poised to take on the US$48 billion global chat app market. The funds raised would be used to further innovate on their product, and grow the community to expand their operations across Asia from Singapore to China, Japan, and South Korea.
Consentium is poised to fill in the gaps left by current messaging applications, addressing privacy, security and censorship issues, and certainly has the potential to become the go-to messaging application for us cryptocurrency users.
They have already released their chat application on the Android OS and would be incorporating their additional features as planned on their roadmap. Coming across this ICO project has indeed caught my attention, and I’m definitely invested in exploring the many possibilities of this application.
Consentium’s public sale starts on 20th April 2018, so don’t miss out this opportunity to be part of their exciting project!
You can find out more details about their project and read their whitepaper from https://www.consentium.net/
They have also just started an airdrop programme! Airdrop for up the 8 CSM tokens per person. You can participate in their airdrop from the link:
Additionally, do remember to join my telegram channel for frequent market signals and other updates like this as I continue my search for investment opportunities.