We exchange everything every day. From household supplies for living to the goods for cultural entertainments which are all gained through the market economy. As an economic unit, it has judging systems in order to maintain and keep the economic ecosystem healthy allowing us to exchange goods freely and without discrimination. Many financial institutions such as banks and stock companies have their own estimation standards for efficient financial services. There are firms that specialize in evaluating corporates. Even Play Store of Google has an application rating system. Despite varied scales and specialties, these evaluations and assessments protect the rights of diverse economic agents and guarantee efficient operation of the economy. Interestingly, the appearance of cryptocurrency based on the blockchain technology is changing our understanding of exchange, currency, and assessment system. The very relation between nation-state and market was a traditional subject in economics but network-individual based on the data-interchange platform ruined most speculations and conjectures. No one dared make an assumption on the future economy and this unpredictability produces abundant and colorful opportunities to create added values.
Allbit Platform created by Ozys wants to lead the discussions on cryptocurrency as well as the new opportunities in front of us among the dramatic changes of market environments. Cryptocurrency systems based on the blockchain technology is considered as a future currency and is being used very actively and it is quite embarrassing to admit that there are no reliable devices to protect users. The absence of protection is a main characteristic of cryptocurrency. Unreliability and decentralization are key factors of cryptocurrency system so there is no central or reliability. Allbit Platform aims to estimate the values of cryptocurrencies through APOT by utilizing collective intelligence from digital environment and protect trade participants by sharing the resulting information. Allbit Platform will assess cryptocurrency values based on the reputations formed by collective intelligence network and members of Allbit governance. It will also contribute to the entire network by sharing their knowledge. As part of the collective intelligence network, the Allbit governance members will get rewards according to their participation and which will lead to a more active participation and a play role for objective value judgment standard.
It is expected that the APOT service provided by Allbit Platform will be actively utilized in the area of cryptocurrency transactions that require multi-valued judgment in the future. We are of the view that the service can protect the traders from poor and risky cryptocurrencies in various economic areas such as the cryptocurrency exchange market, investment companies, payment services, etc. Furthermore, Allbit Platform will not only perform an assessment service with the cooperation of APOT but also will introduce and support worthy cryptocurrencies creating and expanding the new economic area.