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Shaoming Yang becomes Chief Business Development Officer at FamilyPoints, a decentralized platform for baby and maternity products, set to make the parenting industry safer, more convenient and transparent.
Bring new life into the world is the greatest joy a parent can have, however, safely shopping for their needs can be quite a headache for most. From inflated prices on branded baby products due to commission fees and promotion costs, to fake product reviews and comments, the current market is rife with uncertainty and dangerous items.
Leveraging blockchain technology, FamilyPoints, China-based decentralized and scalable platform for Baby and Maternity products, is set to disrupt the parenting industry, making it safer, convenient, and more transparent. To steer the company towards the creation of this revolutionary vision, FamilyPoints is pleased to announce the appointment of Shaoming Yang as the chief Business Development Officer of the company.
Yang, a former senior manager at Alibaba and founder of China’s first e-commerce website dedicated to parenting needs, will be heading the ecommerce department of Babystep and Family Points, as well as formulating key partnerships in the industry.
Speaking about his motivation for joining the company, Yang stated that his young son and a desire to help parents like him save money on childcare products compelled him into joining the company.
“My little boy is being raised in Shenzhen. Compare with the kindergarten system in Singapore, I am worried which kindergarten to send him to as most are privately run and there is no proper accreditation in place. A lot of people need connections just to get in a good school. With FamilyPoints, parents can properly review kindergartens and share genuine feedback with fellow parents. If this can solve my problem, it can also help others.”
The global market for parenting is estimated to be worth about US$889 billion annually, while education services are rakes in a staggering $5 trillion. Using the blockchain, FamilyPoints has created the first fully transparent and immutable ledger system for the storage of reviews, rewards, and transactions. This will be the foundation for the development of a scalable and trustful system for children’s products and education across industries. Manufacturers, service providers, and end-users will no longer be able to mislead consumers around the world; a problem that is becoming increasingly pervasive in this day and age.
The Crowdfunding Campaign
FamilyPoints is issuing FamilyPoints Tokens (FPT) in a token generation event. The tokens are ERC20-compliant and compatible with Ethereum wallets. FPT can be thought of as app tokens which are used to pay subscription fees to access the the FamilyPoints platform.
Subscribers to the platform include:
- Individuals – Moms, dads, and other shoppers, who want to provide their children with the best educational services, and who want to buy trusted maternity and baby products while receiving the best value for their money.
- Services Providers – Kindergartens, Education Centers, Language Schools, Financial Institutions, Tourism Companies, and others, who want access to a niche customer base to advertise their products.
- Merchants – E-tailers who specialize in maternity and baby products.
- Product Manufacturers – Manufacturers, who either sell white label goods or those that want to bypass the retail industry’s barriers and access customers directly.
- Other Stakeholders – Other FamilyPoints partners may join the platform at different development stages in the future.
Babystep is using the funds raised primarily for platform development, marketing and expansion to the most viable markets.
Founded in 2015, Babystep has built the world’s largest video library of educational parenting content with over 1,150 videos in 8 different languages. The company is a winner of the prestigious G-Startup award, China’s biggest startup competition, and has since launched its mobile video platform. Babystep generated 15 million organic monthly views and has an established subscriber base of 1.5 million in 2017. Simultaneously, Babystep has begun to retail its own furniture in China while building an e-commerce presence on Taobao, Xiaohongshu and Yidoutang.
We are in the top 3 parenting channels in Baidu app for moms, Top-10 educational content provider for Alibaba and Fastest growing education content in Toutiao and Le.tv
FamilyPoints is a scalable, blockchain-based platform which enables parents to earn up to 40% rewards from purchases of baby and maternity products. Parents can spend those rewards on education services for their children within the platform. As a part of the reward points system, parents can use their points for educational content, professional consultations with experts, live streaming webinars, classes in early education centers, and other services . FamilyPoints can offer users with higher rewards because it works with selected manufacturers and brands directly and eliminates all unnecessary markups. Over time other services including banking, insurance, and travel may also be offered through the platform.