MapCoin ICO – The Future of Incentivized Mapping Technology

brainpow (0)(1)in #blockchain • 6 years ago

MapCoin – Driving The Future of Mapping Technology

There are many new inventions in the blockchain industry, some solving issues in society while others are creating bigger messes in the process. Among the one of the far-reaching projects is one known as MapCoin.
MapCoin's team have managed to create a technology that collects data for autonomous vehicles and mapping industry. It's a platform that allows companies to collect the needed data by creating mapping tasks. Once a company creates a mapping task, the company then lists the mapping task on the website then registered users can accept the tasks to collect data. Mapcoin drives the creation of maps and site knowledge utilizing the facility of group. MapCoin’s purpose is to assist the gathering of knowledge for the entire autonomous car and mapping business. As a platform it helps to facilitate the gathering of this knowledge by permitting firms to create “Mapping Duties“. These activity are then listed on the MapCoin web site and registered customers can settle for the duties to gather knowledge.

MapCoin’s whitepaper has clearly outlined where their technology can be applied. According to the white paper, collecting these forms of data is not always easy. One needs to go through various processes before the data can be ready to use. MapCoin claims to have created a solution that makes data collection cheaper and less time-consuming.
Companies dealing with automotive, OEM, insurance, logistics, oil or gas and mapping companies can now get the needed data to improve or add products to the market by simply using the MapCoin platform.
The company hopes its technology will help get the necessary data to allow the release of level 5 cars. Currently, the automotive market is in the early stages of releasing level 3 cars. Mapcoin hopes to have 100% automated vehicles sooner than the estimated time in 2030.

About Blockchain:
The arrival of the blockchain technology introduced many advantages to the world making its potential huge. It allowed many computers to take part in a network, distributing the computing power, which helped reduce the risk in any tampering, fraud or cyber-crime. Furthermore, it allowed different parties to believe that transactions between them are indeed real and valuable. With immutable records of transactions this also ensured a possibility for a massive range of digital transactions to happen without any central authority. With significant reduction of monopolies or middle men, this also removed a lot of costs from the equation. Blockchain also ensured immutability, as any transaction can be confirmed and shared across the distributed network, while almost impossible to undo.

Token economy:

The company has a token to enable it to achieve its dream, the token with the symbol: MAP will allow peer-to-peer payments. The token will be used to reward MapCoin data creators. Token holders will be able to create mapping task and pay data collectors using the tokens on the platform. One billion tokens have been created with only 38% of the MAP tokens up for sale currently. Of that, 35% will be for community reward, 19% will be allocated for the MapCoin team, 5.5% for marketing and 2.5% for legal purposes. Token holders will be able to exchange the token for $0.10 for 1 MAP.

Mapcoin Team:
There are two co-founders; Matt Thornhill, the chief executive officer and Ben Keogh, the business developer. Ben has 20 years experience of delivering software and digital products and has worked with Disney, WPP and FT.Com.

MapCoin has a big team in place to run it's operations. One will get impressed by taking a closer look at the company’s main team. The team has been together for the last ten years. During this period, the team managed to launch the free navigation on the iPhone using OpenStreetMap, which have been used by more than 25 million people across the globe.
The team also managed to create a new approach to Autonomous vehicle mapping.