Miami, December 5th – Pawtocol, the premier Blockchain company dedicated to the pet community, will launch its IEO on ProBit on December 27th, marking the first-ever sale of the Universal Pet Income (UPI) token, an ERC-20 token powered by the Ethereum Blockchain.
“This is the first working model for Universal Basic Income (a.k.a UBI), but in the pet industry,” says the CEO of Pawtocol, Karim Quazzani. “Pawtocol is a borderless, permissionless community on the Blockchain where all pet parents have the right to earn a living because their pet’s data is valuable.”
The UPI token establishes a currency to power the pet care ecosystem with tradable value derived from data. This means pet parents will be able to monetize their own data, granting users complete ownership and control of their valuable information. Tokens are earned through participation and will be used in exchange for pet-related products, services, and discounts on the platform.
The Pawtocol platform leverages the advantages of Distributed Ledger Technology (DLT) to deliver the world’s only user-first pet ecosystem. Users will be compensated for sharing the vast amounts of data already being generated during activities with their pets. Furthermore, those activities will be enhanced by a transparent, crowdsourced AI-driven recommendation engine, sparing users from the typical barrage of corporate-initiated advertising.
For vets, the Pawtocol platform is built to help vets grow their business in a rapidly consolidating industry. By simply being a part of the ecosystem, vets can more easily engage with pet parents in their local community to find and retain clients. They can also reduce overhead thanks to Pawtocol’s easy-to-use decentralized software as they earn rewards for storing and sharing data with users’ consent. Storing data on the blockchain also mitigates liabilities associated with the hacking of sensitive data. Since Pawtocol will also release integrated hardware, vets will be able to seamlessly interact with the platform while benefiting from bleeding-edge IoT healthcare technology.
The Pawtocol platform also brings balance to the pet industry by empowering local businesses. By eliminating paid-advertising and implementing crowdsourced AI recommendations, local suppliers with superior products can more easily compete with national brands. With supply chain transparency gaining traction among consumers, local vendors can incorporate their manufacturing process directly within the Pawtocol platform at little additional cost. Attracting locals to a pet store in the digital age is challenging, but Pawtocol provides a solution by enabling merchants to drive traffic directly to their storefront by engaging the community on the platform.
About Us: Pawtocol LLC (Delaware, USA) is a global online community of pet lovers who are disrupting the pet industry by leveraging blockchain technology while monetizing data about their pets.
About ProBit Exchange: ProBit Exchange is a global cryptocurrency exchange. ProBit Exchange only lists promising, qualified and deserving cryptocurrency projects. ProBit Exchange boasts an order matching speed of over 1.5 million orders per second, superb security which supports hardware security keys and a customizable user interface. ProBit Exchange is able to support an IEO with more than 5 currencies, multiple sales round, different bonus rates, and various lock-up structures. The funds received are stored with the same high-level protections that ProBit Exchange uses for exchange’s deposits. ProBit Global: www.probit.com ProBit Korea: www.probit.kr
Contact: Media Relations, Michael Henry, Media@pawtocol.com
This release contains “forward-looking statements” within the meaning of securities, consumer protection and other laws in various countries, states, provinces, and jurisdictions. Such forward-looking statements involve risks and uncertainties. Actual results could differ materially from those anticipated. Pawtocol makes no warranties, guarantees or representations with regard to the accuracy, completeness or suitability of the information presented, and readers hereof waive any warranties implied by law or otherwise