Dock (DOCK) ICO Review – ICO Token News
Dock.io is a decentralized data exchange protocol that will allow users to truly own their data. It will also enable the central application to communicate and transfer data (work experiences, personal reviews, reputation, etc.) of individuals to other platforms and applications. The applications will receive DOCK tokens for sharing the data of individuals on different applications.
What is dock.io all about?
Dock.io is not a product or application but a protocol that is capable of efficiently powering data for a large number of technologies and applications. It will create a data exchange that will effectively integrate users’ profiles from different applications and platforms. In addition, it will incentivize data transactions for applications while providing the user complete control over their own data.
This protocol will enable the seamless connectivity of data across the web. It will let people connect their social media profiles, experiences, and reputations across the web with security and privacy.
Web applications will not be able to publish data directly to the Ethereum blockchain of this protocol. The alignment of interests between the application and the user will be achieved via the dock.io token model. Applications will receive the DOCK tokens in exchange for data.
What does dock.io aim to be?
This protocol is a special purpose decentralized data exchange protocol that is intended to incentivize the exchange of personal reviews, work experience, and professional connections. It can be expanded to include any type of shareable data by the user. The team associated with this project believes that users should own their personal data and should be able to share it across different applications.
Tokens will be used as a currency to pay to access user data. In addition, applications will pay tokens to each other for utilizing each other’s data. Any additional tokens paid for it are burned immediately after the first time data is shared from one application to another.
Purpose of DOCK tokens
- Holders of the tokens can introduce new proposals and vote of the future development of this protocol.
- Accessing data:
- When users want to access data on their platforms, applications will make use of tokens.
- Sharing data:
- When users create new data to share via this protocol, the applications are rewarded with tokens.
- Ensuring quality data:
- Applications are only rewarded when other applications accept the data of the users in order to ensure high quality data.
How will users benefit from this protocol?
- Individuals can easily use this protocol for transfering their data to and from any application.
- They will have complete access to updated profile information and employment history data.
- Hence, the users will not be limited to any single web-based platform for accessing their essential employment data, personal reviews, and freelancing data.
- The users will get an access to verified and signed content and they can choose applications where the essential employment data should be shared.
- In this way, they will own their own data.
- In addition, users will be able to choose where their data will be shared.
- This protocol will help users to have complete authority on sharing any particular data with specific application of their choosing.
What problem is dock.io solving?
The job market has changed significantly since the inception of the internet. According to recent research, an average US citizen changes jobs more than 12 times during their career in the US. Professional employees in the US rely on a centralized platform for finding work opportunities and sustaining their career. The employment data of individuals are centralized by these platforms. It is impossible for the individuals to transfer their reviews, experiences, and their value on any other platform.
The most centralized system does not provide an incentive for sharing essential data because of competition. These systems rely on the analysis of data for making financial gains, which leads to competition as each platform aims to efficiently gain an advantage over their competition.
This protocol aims to find a sustainable solution for different companies hoarding important data by creating a protocol that enables the equitable sharing of useful data on different platforms. This will be achieved by using the Ethereum blockchain token model, which will let individuals regain control of their essential data.
What is dock.io’s new innovation?
- This protocol will systematically combine a wide range of different types of data that are relevant for people to find the right type of work without any friction.
- This protocol will align the interests of work-related data sharing through a crypto economic model.
- In addition, it will make the technical integration of work-related data sharing through a crypto economic model as simple as possible.
Why is the Ethereum blockchain technology used in the protocol?
The Ethereum main chain was selected as the preferred chain for the development of dock.io because the following benefits:
- Easy integration of ERC20 token with exchange platforms and cryptocurrency wallets.
- Strong ecosystem and network effect.
- Simple integration with third-party applications and smart contracts.
Token price and token sale
The dock.io protocol is powered by the DOCK tokens, which provide incentives to central systems and platforms for sharing user data. These tokens will be used as the currency for data transacting. 1 DOCK token can be purchased by paying USD0.067. ETH coins will be accepted for the purchase of these tokens just like other ICO tokens such as. KahnChat, Adhive, TrustaBit, Darico, KWHCoin.
Pre-ICO sale for DOCK tokens
- 12,000,000 USD will be released during the pre-ICO sale of DOCK tokens.
- The investors will get an extra 40% bonus when they purchase the tokens during the pre-ICO sale.
- 50% of the tokens purchased during the pre-ICO sale will be locked for a period of 4 months.
ICO for DOCK tokens
- A total of one billion DOCK tokens will be created for the protocol.
- The sale of DOCK tokens will start from February 21, 2018.
- The maximum cap of the ICO will be USD20 million.
- All the unsold tokens will be destroyed.
- Investors prefer to use Ethereum (Ether) to pay for the purchase of most of the ICO tokens such as MoxyOne, ATFS Lab, Storiqa, BunnyToken, Cointed.
- Similarly, this token can also be purchased by using the ether cryptocurrency.
- Participants from China are not eligible for the token sale.
Benefits of purchasing DOCK tokens
The holders of DOCK tokens will be able to introduce new proposals and vote on the future development of the dock.io protocol. Users will be able to retain control over which applications can access and update their critical data.
People will pay indirectly to other applications for accessing the data of individuals. The value of tokens will be intrinsically linked to the demand for information of the users, which means that there will be a greater incentive for platforms or applications for using the dock.io platform for the acquisition of the essential data of users.
Distribution of DOCK tokens
- 4% of the total DOCK token supply will be reserved for the advisors associated with this project.
- 6% of the total supply of tokens will be allocated to early investors.
- 10% of the DOCK tokens will be stored in cold storage for a period of 2 years. It will be used for further development of the dock.io protocol platform.
- 20% of the tokens will be allocated to the team associated with this project.
- 30% of the tokens will be allocated for ecosystem incentivization.
- 30% of the tokens will be released for sale to investors during the main ICO
The team behind dock.io
Some of the key members associated with this project include:
- Nick Macario, Co-founder, CEO.
- Elina Cadouri, Co-founder,COO.
- Stenli Duka,
This protocol aims to systematically provide a solution for data hoarding with current professional networks around the world. This project is well-equipped to efficiently execute this vision successfully. It has great potential for long-term growth for cryptocurrency investors.