A decentralized protocol aimed at modernizing the sharing economy has started the first phase of the “inclusive use case”, which focuses on e-sports.
TimeCoinProtocol reported that eSportStars is a decentralized app designed to offer something for everyone in this vibrant market, which is estimated to house 500 million players worldwide.
DApp aims to bring together professionals, fans and players who are looking for a career in esports in the future. Users can host tournaments where professional players and fans can compete against each other. The marketplace also means that salespeople can offer lessons on how to improve gaming skills and give advice on how to pursue a career in e-sports.
The team said that a particularly unique development with eSportStars will reward users for competing and publishing videos based on how much time they spend on the platform.
TimeTicket, the company responsible for eSportStars, has also promised to donate 5% of the first-year income to children affected by COVID-19 through charitable donations to organizations such as UNICEF and the UN High Commissioner for Refugees.
ESportStars supports a number of popular games, including Fortnite and the mobile version of Call Of Duty.
A broader ecosystem
TimeCoinProtocol was created using the Ethereum blockchain, and the team behind the project says it intends to capitalize on the “changing face of human interaction, work, society and well-being” – changes exacerbated by the coronavirus pandemic.
The official protocol document cites figures indicating that the sharing economy will reach $ 335 billion by 2025. In the meantime, the concert economy is estimated to be worth around $ 2.7 trillion in just five years.
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Despite their optimistic view of the sharing economy, the Protocol Development Team says there are obstacles in the way of this growing sector to its full potential. “The middlemen who dominate the sharing economy by offering marketing and guarantee services capture a large portion of the revenue from fees and exorbitant costs.
TimeCoinProtocol does not criticize companies that charge fees. “Self-employed people are the backbone of the sharing economy, but their work was used in a practice that initially pushed many of them away from the normal workforce,” the White Paper added.
How it works
TimeCoinProtocol says that anyone can create a DApp in their ecosystem and integrate TimeCoin token (TMCN). It is hoped that over time this will enable the sharing economy to flourish in a number of utility cases. It is important to note that users of the protocol will enjoy DApp’s cross-functionality, which means that their reputation will follow them wherever they go.
According to the project, there will be no end to this protocol. Some examples mentioned in the white paper include a professional photographer who can advertise their services, an employer who can hire an independent tax professional to get their money back, and a driver who can find a travel companion to share the fuel costs on a short trip. And young professionals who need professional guidance.
The first exchange offer for TimeCoinProtocol is scheduled to be in Hong Kong on November 11.
The team also notes that the TimeCoin token will be listed on BitForex on November 11th.