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Bitcoin News
Could Legacy Brand RadioShack Redefine Itself Through… DeFi?
RadioShack was a technology hallmark in the late 1990s. Big box stores dominated the emergence of new technological innovations, when personal computers, cell phones, printers, and the like all started to hit the market and were host to a fast race to be a leader in innovation.
However, in recent years, big box presence has dwindled, and RadioShack has been largely seen as a legacy brand that failed to shift to consumer demand – investing in brick and mortar without optimizing their online shopping experience.
Could the century-old consumer goods brand keep it’s heart pumping through… DeFi?
RadioShack Is Now A DeFi Product?
RadioShack’s website is now front and center an announcement for a new DeFi protocol, which will host the RADIO token. A waitlist is available for early notifications, Discord and Telegram communities are established, and yes – there’s a RadioShack DeFi whitepaper on Github. The platform will look to infuse the RADIO token as a ‘hub’ of essentially a hub-and-spoke model that takes a unique approach relative to traditional DEX’s:
Oh, and you can still shop online for your technology hardware needs too.
It’s the latest unique and unexpected twist in crypto, as DeFi continues to have a strong performance to close out the year. Protocols that have a major emphasis on DeFi products, including the likes of Avalanche (AVAX) and Terra (LUNA) have entered the top 10 in crypto market caps recently.
According to the RadioShack whitepaper, Polygon (MATIC) will be a chain that will look to integrate in it’s ‘Starfish Topology’. | Source: MATIC-USD on TradingView.com
Related Reading | Community Voted, Why Uniswap Will Be Deployed On Polygon
Looking Ahead
Yes, brand engagement in crypto (most notably NFTs) has been ramping up immensely in recent months. However, this move admittedly wasn’t on our shortlist when 2021 was getting started. It’s a bizarre brand entry from a company image that was basically on life support.
According to the refreshed RadioShack website, the endeavor is being spearheaded by long-time social media personality Tai Lopez and business partner Alex Mehr. The two will start off the platform with a swapping feature. According to the whitepaper, the platform will look to leverage retail ecommerce ventures (and still lists platform partners in the traditional retail space, including Pier 1, Linens N Things, and Stein Mart) and will bring in DeFi protocol Atlas USV for protocol liquidity.
Can’t say I expected to see a DeFi protocol that had Pier 1 as a listed partner anytime soon, but again – nothing should really surprise us in this space anymore. Who knows, maybe Blockbuster NFTs and Bed Bath ‘N Beyond blockchain loyalty reward programs are on the horizon.
At this point in crypto, anything is possible.
Related Reading | To Ban Or Not To Ban? Russia Concerned About Growing Crypto Transactions
Featured image from Fortune.com, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.
NewsBTC
Cardstack Set to Redefine the Internet’s User Experience Layer
Blockchain venture Cardstack just recently concluded a successful token sale reaching its cap of million. The funding puts Cardstack in a strong position to pursue its goal of redefining the internet’s experience layer through blockchain and decentralization.
Cardstack seeks to challenge the dominance and control of tech’s major players over users’ internet activities. The centralized approach these companies apply to their apps and services create silos that result in fragmented user experiences. Often, users have to manage different accounts and subscriptions just to have access to the functionalities they need. Interoperability and integration across these applications are often lacking as well.
What Cardstack essentially offers is a decentralized application orchestration platform. It allows users to create customized workflows by linking various app functionalities and services together.
Chris Tse interviewed on Crypto Crow
While the concept is similar to orchestration services like IFTTT, Cardstack is able to tap into almost any data source including blockchain allowing users to accommodate the new technology into their workflows.
Components
Instead of having companies dictate how a particular service should work, users are given the flexibility to create their own experiences. Functionalities like authentication, chat, collaboration, and payments are visualized as cards which users can stack together based on the conditions and rules they set.
For this to work, Cardstack is envisioned to be a complete ecosystem featuring the following components:
Cardstack Hub. The Cardstack Hub facilitates the orchestration functionalities. It sits at the layer between data sources and the user experience and is responsible for sending out commands and listening for changes from local, cloud, or blockchain data sources.
Cardstack Framework. A comprehensive standard development kit (SDK) is made available to developers allowing them to create their own decentralized applications (dApps). Various functionalities and features are to be developed based on open-source standards. This way, users and developers will be able to replicate and modify them to generate new and improved functionalities.
Cardstack Token (CARD). Fueling Cardstack’s economy is its Ethereum-based ERC20 CARD Token. Aside from working as a typical cryptocurrency, it’s also used to drive the ecosystem. Users need to pay CARD in order to create smart contracts to tap into their chosen apps. These payments are then staked into a reward pool that will then be used to incentivize and compensate the open-source developers contributing to the platform.
Reward Pool. Instead of direct payouts, the system uses a decentralized payment algorithm and a governance model to determine how much contributors are to be paid. Users can also earn CARD tokens by participating in analytic mining. Unlike mining in the traditional sense where users have to solve cryptographic puzzles, Cardstack analytic miners help calculate the platform’s reward function instead.
Tally Protocol. Driving all these is Cardstack’s own Tally consensus protocol. Earlier consensus protocols like Bitcoin’s uses the resource-hungry and slow proof-of-work protocol. This has resulted in high transaction costs. It also needed immense amounts of computing power to perform. In contrast, Tally is built to be scalable. It uses proof-of-usage messages that are handled off-chain before the final payment is sent back to an on-chain smart contract. This effectively reduces much of the load that the blockchain would have handled instead resulting in better efficiency.
Team
Leading the team behind the project is Columbia Univesity alum Chris Tse. Joining him are fellow tech talent Ed Faulkner and Hassan Abdel-Rahman. Among the advisory board are former UBS and SAP CIO Oliver Bussman and Bitcoin Suisse ICO Head Nicolai Oster. Collectively, the team has a proven track record in tech, business, and blockchain.
Direction
Elements of the project have been worked on since 2014.
The conclusion of the successful token sale kick starts the project’s bootstrap phase where it would scale its team to include more contributors – developers, designers, support, content, and even marketing talent – to comprehensively work on the needs of such an undertaking. Once the platform goes live and tokens begin circulating, the token economy and ecosystem will take over to ensure the sustainability of the platform.
Cardstack can usher in wider adoption of blockchain and dApps by making the technologies accessible to users. Users are empowered not only with the ability to create and customize their own workflows but with control and ownership that decentralized technologies provide. With its funding, Cardstack should be able to deliver its vision.
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After Raising $15M in a Pre-Sale, BitClave Is Ramping up for Its Nov 8 Crowdsale, and Its Plans to Redefine the Search Experience
BitClave, a blockchain startup developing a decentralized search ecosystem, has completed a very successful private and public pre-sale token event raising almost million and receiving commitments for another million. BitClave is also excited to announce the start date for the highly anticipated crowdsale of their Consumer Activity Token (CAT) is November 8th, 2017. … Continue reading After Raising M in a Pre-Sale, BitClave Is Ramping up for Its Nov 8 Crowdsale, and Its Plans to Redefine the Search Experience
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