Origin Protocol is a platform designed to enable developers and businesses to build decentralized marketplaces on the blockchain in a fast and simple manner. It is an open source service that allows businesses to more easily benefit from the advantages of distributed ledger technology. Think creating decentralized versions of Airbnb, Uber, Craigslist, and other Internet marketplaces built on the Ethereum blockchain. Origin Protocol states;
“Whether you are a freelance photographer, apartment owner, bikeshare supplier, or existing sharing economy business, Origin makes it easy to do business on the decentralized web.”
So size does not matter.
“By eliminating corporate monopolies that act as marketplace intermediaries, Origin reduces onerous transaction fees, combats censorship, and redistributes value from rent-seeking middlemen to individual buyers and sellers.”
Origin Protocol indicates there is already a good number of businesses that have signed up to use the service.
Origin recently hired PayPal founding engineer and YouTube’s first employee, Yu Pan, as well as Dropbox’s Head of New York City Engineering, Cuong Do – so they have some serious engineering chops.
The company says it has just completed the first implementation of Ethereum’s proposed identity standard, ERC 725. Using the ERC 725 identity standard, Origin’s DApp allows users to connect their existing identity to their Ethereum wallet. You may contrast this to services like Facebook and Google who keep all of your information stored doing whatever they want with it. Origin allows users to own and manage their own data and port their info across decentralized applications.
Origin is the first investment opportunity offered by CoinList Capital, CoinList’s investment arm, and is the latest ICO to utilize the CoinList platform for its crowdfunding functionality alongside top blockchain and cryptocurrency projects like Filecoin and Blockstack. CoinList was a great barometer for successful tokenized securities in 2017, after waiting for the regulatory dust to settle – CoinList is back in the game. The CoinList platform streamlines user registration, accreditation, and vetting. Investors from all over the world may participate in a compliant and democratic way.
The offer is now available for registration for investors (accredited in the US). The actual sale kicks off on June 28th. The funding cap has been pegged at $6.6 million.
Origin has already received the backing of several big name VCs including Pantera Capital that invested $3 million. In an “strategic round,” Origin Capital raised $28.4 million from more than 190 global investors including Foundation Capital, Blocktower Capital, Smart Contract Japan, FBG Capital, Danhua Capital, Kenetic Capital, and Hashed. Top Silicon Valley angels like Reddit co-founder Alexis Ohanian, former YCombinator partner Garry Tan, Gil Penchina, Kamal Ravikant, and Uber’s founding advisor Steve Jang.
“We’re excited to bring our working platform to market in the next few months and create a more open, efficient, and transparent way to buy and sell on the Internet,” adds Matthew Liu, co-founder of Origin. “CoinList democratizes the fundraising process, allowing the broader community to participate in an investment opportunity that previously would have only been available to a handful of traditional venture capitalists.”
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