By
Godfrey Benjamin
April 12th, 2024
This new formation social network will give a new breath to the industry.
Indorse is a revolutionary professional network aimed at changing the form of professional social networking. The platform uses new tokenization and decentralization model that offers an increased data security and reduces the risk of fraud.
Indorse is being developed by a Singapore-based blockchain company called Attores. The firm has recently launched a pilot programme with a Polytechnic school in Singapore to issue diplomas via the Ethereum blockchain.
If compared to conventional networking systems, Indorse gives back ownership of the data to the user, allowing them to profit from sharing their abilities and activities. The Ethereum technology provides transparency needed for a crowd economic system to succeed and boost its own expansion. Indorse uses Ethereum as computational engine, and Inter Planetary File System (IPFS) as the garage mechanism.
The network will be built-in with a range of decentralised applications, including Inter Planetary File System (IPFS), Truffle, uPort identity system, Attores Certificate Issuance Platform, Spectrum and Status.
Indorse will also enable users to add claims to their profiles. Claims are personal achievements, such as earning a diploma, playing the musical instrument, getting a degree or finishing a marathon. The platform then randomly selects a number of other users who can endorse the claim using an anonymous voting mechanism called zero wisdom proofs.
The chosen members will flag if the declare is valid. For valid declares, you will be rewarded with Indorse Bucks and your Indorse score will increase. Meantime, Indorsers will also have their rankings increased. For frivolous declares, your and indorsers’ scores will drop.
“Indorse will allow users to profit from sharing their skills and activities on the platform via reward tokens,” David Moskowitz, the founder of Indorse, told Coinspeaker.
“We envision a serverless, decentralized future, where the users will build their profiles and profit from their reputation. This future will need a decentralized platform where others can judge the quality of a person’s profile not just by where they have gone to school, but what they have actually done in their professional and personal lives.”
Last week, Coinsilium Group Limited, the accelerator that finances blockchain startups, invested SG$100,000 in Indorse. The startup is also in plans to launch a crowdsale of its digital tokens in the near future. The date of the ICO is expected to be announced soon.
“We view a token sale as a means to bootstrap usage of the platform and would like as many people as possible to participate,” Moskowitz said.