SophiaTX, a project meant to introduce blockchain technology into the operations traditional business models is being pioneered by Mr. Jaroslav Kacina. We caught up with him a few days ago and held the following interview;
Hello Jaroslav, what is the SophiaTX project all about?
SophiaTX the first open source platform to primarily integrate blockchain with enterprise applications such as SAP.
It has been designed as Blockchain Platform and Marketplace suitable for business. The Primary objective is to integrate leading enterprise applications and solutions, covering major ERP, CRM, and SCM systems, into a collaborative environment across multiple industries.
Our team has been working from very early in 2017 to identify real use cases and discuss with companies with potential interest. Also we have an advisory board selected from executives from companies to get a first-hand feedback from several industries.
What informed the decision to venture into the project?
First, we have conducted a strategic study which resulted in identifying blockchain for enterprises as a largest white space. The 3 key factors that convinced us to launch SophiaTX, were:
- Currently there is no blockchain, that is suitable from speed, security and compliance perspective, which is ready to be used by businesses
- We have been able to identify large amount of disruptive and transformational ideas(use cases) for blockchain in non-finacial sector, and
- We have been able to commercially test the interest from businesses that might be good candidates in pursuing the blockchain technology
Using a specific example, can you briefly describe how blockchain technology can improve an existing traditional business model?
Blockchain in business, can help in many ways, mostly in creating true peer to peer information exchange among business and their consumers. One such example is tracking of products such as medicines, from manufacturer, to distributer, to hospital and finally to patient. Such immutable transparency provides protection against counterfeit products being sold to patient. Fake drugs are currently significant issue in many markets and blockchain solution ensures that manufacturers and patients are protected.
Who are your primary target market and what are your plans to incrementally improve your market share in the space?
The market we are entering is currently not serviced. There are no solutions ready to be deployed which would be suitable for business. Our ambition is to be first in the space for enterprise applications such as SAP, and through development of standardized APIs, we will be able to drive massive adoption.
In which countries will you be operational?
We are Swiss based company however we operate internationally. In addition to Zurich, we are able to leverage our delivery centres in Kuala Lumpur, Shanghai, Bratislava, Riyadh, and likely will open additional one in North America. It is important so we can fully service clients and drive adoption.
Which exchanges are you currently in talks with to have SPHTX tokens traded?
This information will be made public in next days.
Briefly run us through how the process of SPHTX token sale will happen.
150 million tokens will be offered thorugh TGE between December 5th to 15th. The total amount of tokens available is 500 million.
All unsold tokens will be distributed back to participants on pro-rata basis.
For details of TGE, it is recommended to check the sophiatx.com website in coming days.
For more details, follow the SophiaTX ICO here.