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Home News The Kudos Project Opens Token Sale on November 1, 2017

The Kudos Project Opens Token Sale on November 1, 2017

Kudos, a cryptocurrency for service-oriented businesses and the most effective way to rate and reward workers and users impartially, has announced the dates of its token sale. The campaign will go live on November 1, 2017.

Kudos will create the first global, verified and transparent rating system, empowering a new labor economy that is more efficient and less biased. Kudos will become essential infrastructure for existing businesses today and become the backbone of web 3.0, blockchain-based businesses tomorrow. No deep understanding of blockchain technology will be necessary, as the protocol will layer directly on top of existing payment processing and POS systems.

Kudos is led by the team behind the transportation start-up, Skedaddle, which has unique insights after spending the last two years building its platform that provides on-demand, long-distance transit currently used by tens of thousands of riders. With Kudos, the team will introduce the foundation for creating a fair rewards and performance-driven protocol and currency that uses the blockchain to achieve transparency. Ultimately, Kudos will bring trust in ratings through cryptographically verified transactions that cannot be manipulated by ads or algorithms.

“We believe that Kudos can be the foundational currency for businesses, giving marketplaces the ability to build meaningful user reward programs and pay workers fairly. This can be a truly transformative moment for crypto and blockchain, putting Kudos in the hands of real-world businesses, users, and workers,” said Adam Nestler, CEO of Kudos and Skedaddle.

HOW IT WORKS

  • User rewards: The protocol will allow each marketplace or business to build customized rewards programs without the need to launch an expensive individual token.
  • Worker rewards: Workers will no longer be rewarded with clunky, antiquated and discriminatory tips. Kudos are rewarded proportional to a 1-5 rating tied to each transaction.
  • The first verified rating system: In binding the rating and transaction hash to the blockchain, Kudos will power the first verified, global, and trustworthy ratings system for businesses. Each transaction/rating value will be aggregated to the business level. Flawed user-generated review sites will be replaced with a Dapp consumers can trust is not manipulated by ads and falsehoods.

The proceeds of the token sale will be used to support the development of the protocol through its implementation within Skedaddle and beyond. Proceeds will also be used to establish, maintain, and support the Kudos Foundation to grow the use of the protocol and token by other businesses globally.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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