Blockchain is a decentralized technology that allows for effective and trusted storage of data and protects the data from illicit replacement by one of the users. The Ethereum technology is based on blockchain, but imposes an additional layer of capabilities called smart contracts. Smart contracts are contracts written in a programming language that are executed not by the will of any authorized person, but upon the occurrence of certain events specified in the code. Smart contracts are quite powerful tools for instant conclusion of similar contracts between thousands of distributed parties. This saves a lot of resources: as simple as the thousands of sheets of paper and as comprehensive as the labor force that used to manually perform non-intellectual and time-consuming work.
Sponsy is a block-chain enabled a decentralized platform that comes to offer digitized solutions to the problems faced by brands and events in sponsorship activities, to create a same competitive environment.
How does Sponsy work?
Through the use of artificial intelligence powered by blockchain technology, users gain access to the automated-electronic user habit data, on various brands. The information is useful in selecting sponsors.
Additionally, the platform makes use of “The Internet Of Things (IOT) to allow developers connect to different devices. The feature is useful for sponsors who want to keep abreast with specific sponsorship events.
The business word experiences so much inequity in business sponsorships on a daily basis. Most of such activities tend to favor high-end businesses, leaving the establishing ones at a struggling corner. However, according to the innovators of Sponsy, the platform is set to change this perception by providing all our members with the necessary modern tools and techniques for fair competition. Users on the platform can make use of the small fees to reach out to new sponsorship opportunities and close good deals within the shortest time possible. The platform charges a commission of about 5-15% which is much cheaper than the current 35%
Additionally, the decentralized nature of the Sponsy platform brings on board a wide range of experts in the business world. From famous companies, business sponsors to small-scale business entities, you get an opportunity to mingle freely within a secure ecosystem. By making use of the Sponsy App, users can make use of the automatic sponsorship feature and deal with arising issues from anywhere in the world. Moreover, communication is much faster, and users get to keenly follow on the progress of activities including proceeding sponsorship activities.
Sponsy promises to allow sponsorship benefactors into decision-making process concerning future sponsorships. According to the developers, this move aims to streamline the sector to more productive sponsorships by incorporating creative ideas more favorable to the end receivers.
How blockchain guarantees trustful and genuine reviews in Sponsy
Feedback in general and reviews as a part of it is an integral part of making any serious decision, especially one associated with big money. Clients using our system will heavily rely on the feedback left by previous clients about many things, for example, our experts, sponsors and sponsored events or people.
Indeed. Let’s imagine a traditional agency. Let’s assume that the sponsored event has not fulfilled the terms of the contract. In this case, the sponsor will certainly post an unflattering comment about this client. Organizers of the event, in turn, will be desperately willing to hush such an unpleasant accident up and will undertake attempts to persuade the agency not to tell future sponsors this dirty story. The agency can easily agree, especially if some major and well-known event is involved.
The combination of decentralized blockchain storage, the widespread use of smart contracts for relationships simplification, anonymity and state-of-art encryption makes Sponsy an ideal platform that performs not only an infrastructure function, but also creates new opportunities for people around the world who want to move closer to a world-class sponsorship deal.
Sponsy SPS ICO Details
The Sponsy SPS ICO start date still needs to be announced. They're private sale is live now. The SPS token is an ERC20 built on the Ethereum blockchain. You can invest in this ICO and purchase SPS coins with BTC, ETH, Litecoin, Dash, and Bank Transfer.
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