Open Platform is Stripe for Blockchain Apps

Open Platform is Stripe for Blockchain Apps

Blockchain Cryptocurrency ICO
March 17, 2018 by IBC Staff
705
Open Platform

The Open Platform is a blockchain based developer platform centred around providing payment infrastructure for mainstream application developers to embrace decentralized technologies. Open platform wants to make it easy for application developers to integrate cryptocurrency payments into their applications and to help them do that they have developed a cryptocurrency payments infrastructure with mechanisms exactly like a regular fiat-based payment system would have.

By offering this service Open platform allows a greater acceptance of cryptocurrencies as payment, targeting both dApp and regular app developers. Like the Stripe API has made it incredibly simple for developers to simply ‘plug and play’ and process payments within their technology stack, the OPEN API enables developers to similarly accept and process payments on blockchains in a way in which an application would require.

“Filling the gap of application payment infrastructure required for applications to communicate on-chain payments with their application backend. All in one. Accept, transfer payment data, verify, authorize goods for applications, both ways on and off blockchains all with minimal blockchain knowledge.”

Team & Advisors 

They have a silicon valley based and relatively big team, having experience from many big companies such as Samsung, Facebook, Yahoo, Grindr, and Enigma. Ken Sangha, the CEO, scaled and lead an 8-figure app to #1 spot on iTunes UK. Speaker at Yahoo. Andrew Leung, CTO, Lead architect and engineer at Grindr, Facebook, Blackberry, Viacom. Abhishek Punia, Blockchain Lead, Core contributor at Enigma($45M ICO). When it comes to advisors for the Open Platform project, they have rather focused on quality over quantity and have acquired an all-star advisory. Lorne Lantz, PayPal partner and payments entrepreneur, Author & Editor of blockchain books and courses. John Gardiner, lead a $21.75M debt financing round for Big Vikings Game, Pioneering Partner at Facebook Messenger. Chandler Guo, Once runs the largest Bitcoin mining operation, Early investor in NEO, QTUM, TRON and now OPEN.

Roadmap 

They already have an MVP on their testnet. Two companies, Zensoft and Crypto Racing League, have already integrated OPEN platforms infrastructure into their applications. They will open-source the tools of their platform and issue the utility token after ICO ends. OPEN SDK is expected 06/2018 and their platform will do live 07/2018.

Competitors 

While there are a lot of competitors, Open Platform differs from these in a few ways, we will discuss that later. But first let’s start with the competitors, which are of different sorts. Stripe and Paypal are fiat competitors and you could say that Open Platform is a Decentralized version of Stripe. There are a lot of companies offering plug-ins that enables companies to accept cryptocurrencies as payment for their products.

These are Coinbase, Shapeshift, Coinify, CoinPayments, Cryptonator, Monetha, UTrust. While these offers you to take crypto as a payment, Open Platform offers you a decentralized infrastructure to handle the payment and integrate it into your application. The open platform is also compared to Ripple by some, they offer similar service in terms of payment system while Ripple is more centralized.

Token Metrics 

Hardcap: $30M

Token Price: $0.08

Total Tokens: 1,000,000,000

Tokens for sale:  500,000,000 (50%)

Total Supply:   1,000,000,000

20% Developer Growth Pool

20% Team (Vested)

10% Reserved/Locked

Our Take 

While there is a lot of hype, We’re more bullish on the long-term as more developers and applications use the OPEN platform, we should see an increase in token value.

Visit – https://www.openfuture.io/

Join their Telegram – https://t.me/joinchat/FDNbh0M079p5fnfOHFEJaw 

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