Kelly Robertson
There’s a new platform in the “cryptosphere” trying to connect all parties in one place, including investors, inventors, consumers and offline businesses.
Called Vestarin, it aims to add a dose of confidence to the industry and potentially expand the entire market. It’s a bold goal, and the one the company believes will eventually have millions of users.
In a white paper describing the project, Vestarin bills itself as “a must-have for everyone who has made at least one step into the world of cryptocurrency and Blockchain technology.”
Looking beyond English-speaking population
The lofty ambitions mean Vestarin will talk to audiences around the world, not just those speaking English. In fact, once it leaves the demo version — which BTW is already up and running — the service will be available in 15 languages, including English, Chinese, Hindi, Arabic, French and Spanish. This way, they hope to reach more people and hit all of their milestones on the way to growth.
Making ICOs more appealing
One part of Vestarin deals with Initial Coin Offerings (ICOs), helping bring more people to such endeavors. The platform will do that by putting in place a mechanism that will analyze ICOs and their underlying white papers, some of which lack substance. The team behind Vestarin says this is important as fears of ICO malpractice can “turn this great instrument into a soap bubble.”
To that end, it will turn to experts to moderate ICOs and weed out what it describes as “garbage” so that the risks for potential investors gets “significantly decreased.”
On the other end, Vestarin will also help inventors with big and difficult-to-conceptualize ideas find partners on the platform so they could bring their vision to market. For what it matters, the platform already has some 5,000 contributors.
Bringing cryptocurrencies to the general public
Another part of Vestarin aims to make cryptocurrencies more accessible by the general public, which would include both individuals and local businesses that are not yet accepting crypto payments but would be willing to do so provided the process is seamless.
Sure, it is still hard to implement cryptocurrency payment processing, and that’s where Vestarin thinks it could help. The project will run its online exchange that will, among other cryptocurrencies, offer its own VST token. Said token is designed to act as a gateway for purchasing goods and services, with the goal of making it as easy to use as dollars in one’s wallet.
Bold goals, but can it deliver?
Vestarin dubs its platform as a “must-have for crypto enthusiasts,” and is in the midst of an ICO, which will last through April 4th.
If everything goes as planned, the team hopes to have more than 500 shops and service providers on the platform by November 2018. Also, it expects to have 200,000 users and 2,000 shops by January 2019, and eventually hit 1 million users and 8,000 shops by May 2019.
It’s a bold goal, and we’re not that confident they will be able to hit those milestones. They are pushing as hard as they can, so we gotta give them something for the effort. You may want to help them along the way; check out their ICO if that’s your cup of tea.
