BLOCKv’s CEO Reeve Collins took his turn with us on our ICO Focus series; the session availed us the opportunity to get a better understanding of what the BLOCKv project is all about.
Hello Reeve, kindly tell us briefly what the BLOCKv project is about?
BLOCKv aims to change the world’s relationship with value in the digital world. Blockchain technology has changed what can be considered digital value and BlockV is making that value (tokens) meaningfully interact with the end user by adding experience. BlockV has coined a new term “vAtoms” which are tokens with app like qualities, a token that is programmable with multimedia capabilities. This opens up the use cases of tokens far beyond currencies. BlockV is a protocol that maintains vAtoms and provides developer tools so any developer around the world can easily create, distribute and monetize this new asset class, vAtoms.
What inspired you to champion this cause?
The idea came from a particularly brilliant individual, his vision was to make the digital world as tangible as the real world. When all of the ramifications of that concept finally sunk in I realized this would be a true game changing technology and we set off on a path to bring that to life. One of the use case I’m most excited about is the impact the vAtom will have on the digital advertising landscape. When brands can directly connect with consumers through digital objects of value it will disrupt the entire industry.
Who are your competitors in the blockchain technology space and how does BLOCKv plan to set itself apart?
There are companies that may focus on some of the various use cases that can be built on top of our platform, such as in game goods on the blockchain, or ticketing, or loyalty, VR objects, however BLOCKv provides a platform for companies like these to much more easily achieve their tokenization goals. We provide 90% of the tech stack for all of those use cases and the developer just needs to create his custom UI and then market it to his particular use case.
We remove the complexity to actually create on blockchain. BLOCKv’s technology has removed this barrier for developers by making it as easy as ticking a box to create a token on any blockchain, but not just any token, a token with app like qualities.
BlockV is the “interface” because now developers have a medium the “vAtom” this smart digital object powered by blockchain technology, which consumers will now interact with. vAtoms will be part of people’s everyday life, it changes the consumer’s relationship with digital value. Consumers will now have a wallet filled with digital stuff, this digital stuff (vAtoms) will be very valuable, examples would be tickets, collectibles, coupons, experiential currencies, in game objects, the list goes on. Most importantly all of these objects are interoperable and exchangeable with one another.
How do you plan to create an ecosystem around the project?
The ecosystem is truly created by everyone in the community but basically there are four major roles:
Developers: BLOCKv will facilitate a developer community where developers can build smart object templates and write code for the behavior and user interface functions, as well as actions and reactors. A publisher might then use that vAtom template and code for its own use cases to publish vAtoms. The community will come up with new development tools, compilers, coding languages or SDKs to facilitate the implementation of vAtom use cases far beyond our current imagination. These contributions can be open-sourced or offered for free or against a fee in VEE through a BLOCKv developer marketplace. Much like the WordPress template stores, the vAtom templates will grow in volume quickly as the developer community makes new templates and modifies existing ones and puts them back into circulation for community use.
Publishers: A vAtom publisher is an entity which creates and publishes vAtoms. The process of creating vAtoms includes the data and properties of a vAtom, the graphical representation (look and feel) as well as the behavior and interactions. A publisher can use tools provided by a developer for the vAtom creation or directly use a programmatic interface (APIs and SDKs). An example could be a consumer brand company who wants to issue a free sample for a new product as a vAtom that can be distributed to potential customers and redeemed for a real product sample at a point of sale. A publisher might also develop a branded smart wallet including specific functionality, which customers can use to view and interact with the brand’s specific vAtoms. Publishers will have to pay a fee in VEE to emit vAtoms and to keep them alive.
Cyclers: A cycler is a decentralized autonomous entity which provides infrastructure and processing power to run BLOCKv platform functions (reactors, brains, APIs) based on the BLOCKv distributed compute consensus model. For successfully executing vAtom transactions, cyclers receive a specific amount of VEE. For example, large infrastructure providers could offer a highly scalable cloud environment to process generic vAtom functions at very low cost. Or a system integrator traditionally focusing on enterprise business could offer an optimized stack on top of a cloud infrastructure provider, such as AWS, to process only a certain type of vAtom transactions.
The cycler role and the distributed compute consensus model are essential to what makes BLOCKv unique. Developers and creators are not attached to a single centralized environment, meaning that the technology can become widespread with minimal costs. Similarly, vAtoms themselves can scale to billions of objects without the need for centralized computing power or fiat investments.
Users: A user is an individual who holds a smart wallet containing vAtoms. A user can view and interact with vAtoms using their smart wallet. A vAtom-enabled smart wallet can be anything from a browser-based web viewer to iPhone or Android mobile apps to SmartTV apps to a 3D virtual reality viewer. Through their smart wallet, users also have access to vAtoms offered on a marketplace or dropped on the map, etc.
How long has the team been working together and what keeps members motivated?
We’re a collaborative unit all working together with one vision, that vAtoms will change the way we live and experience the world. When you have that kind of audacious objective, motivation never comes into question. We love what we do and we live it passionately. We’ve been heads down for a very long time building out this technology and it is time for us to share it with the world.
Are VEE tokens getting traded on exchanges soon?
Unfortunately we can’t comment on trading the VEE token on any exchanges.
Briefly run us through how the process of VEE token sale will be done?
The token sale is structured as follows:
From a high level the BLOCKv Token Distribution Model is as follows:
- 35% of tokens will be sold to the public in the TGE
- 15% will be locked into a 6 year smart contract to fuel innovation in the ecosystem in the future.
- 25% will be allocated to incentivize the developer community and ecosystem partners and will be locked up for up to 2 years.
- 25% will be held by the company for team, advisors, and early contributors and will be locked up for up to 2 years
We have a detailed post that you can find on Medium
It was a great session with you Reeve, wishing you the very best.
Thank you too.
For more details, follow the BLOCKv ICO here.