Technological advancements across the globe have given birth to Artificial Intelligence, Big Data and IOT that are deemed to lead the future of the society. A society where development and constant changes coexist, security and transaction speed play an important role; is where blockchain and cryptocurrencies will thrive.
With the rise of digital currencies, there has been an increase in the limitations of using these virtual currencies in the real world. Numerous startups and businesses have attempted to integrate their functions with blockchain technology and use cryptocurrencies to enter the virtual realm of the financial system. However, the attempts are in vain, with unrealistic solutions, inadequate technology or under developed products, their projects do not sustain.
In an effort to rise above the unrealistic projects and products that only bring disappointment in the cryptoverse, Gstar coin has built a platform to provide a practical use of their virtual coin along with a concrete business plan. Centred around the creative industry, the Gstar Coin (GOX) is structured for the mobile environment. GOX is a blockchain-based cryptocurrency similar to Bitcoin, but unlike Bitcoin, GOX provides a benefit of updating the ledger every minute.
Community Based Business Models
The business model is based on three communities of the creative industry. The first model is based on a mobile game that is web-based and need not be downloaded from an app store. The game runs using GOX on the blockchain technology and can be played on smartphones by anyone. The second business model is a global audition program in collaboration with international broadcasting stations. GOX will be used as a payment medium for income and expenditure incurred during advertising, participation, support and event costs. The third model is built on an internet broadcasting community. Viewers in the community can pay GOX directly to BJ eliminating agency as the middleman. Each of these communities will work independently and simultaneously connect to GOX.
Furthermore, playing games on mobile will automatically result in mining. Gstar has also attempted to contribute to humanity through Medical Hemp Blockchain. The platform is Ethereum based and accepts ETH and BTC. Linking the GOX ecosystem with different community across the globe, Gstar aims to bring the use of virtual coins to the real world.