Atlas founder responded to IEO, how to land blockchain + tourism

As the popularity of IEO continues to grow, projects involved in IEO include a wide variety of popular tracks, such as media projects, protocol projects, "link" projects, and gaming projects.

The emergence of various IEO projects seems like a throwback to the ICO craze of 2017. But calm down, we still have to ask, does the market really need so many projects, how far from IEO to commercial landing?

For example, the so-called chain reform is the economic transformation of block chain for enterprises. However, most of the chain reform projects are due to lack of growth or capital shortage, so they regard issuing COINS as a means of financing, or the team does not have All in, and the design of the certificate is defective.

Another example is Layer2 protocol layer and DAPP application layer. As the Layer2 middle layer and DAPP application layer project deployed on the public chain, how to balance the relationship between the original public chain currency and the project currency?

Recently we were"How is the real business of Atlas promoted by tencent's wang sicong?"A report on Atlas, the first IEO project undertaken by the Coinsuper exchange. Atlas is a blockchain protocol layer and application layer project for the tourism industry, incubated by the online tourism platform zanadu team.

About the team background of the Atlas project, IEO, the combination of "tourism + block chain" and general economy, zannadu, the founder and CEO of Atlas, talked with us and responded to many questions in the market.

Q: what about Atlas's relationship with zanadu and its investors? Did tencent, jingwei and pross participate in Atlas investment?

Hae-chan wu:

Atlas (ATLS) is a blockchain project that zanadu's team began incubating last year. Tencent, jingwei and prox invested in zanadu, and they did not participate in the investment of Atlas, but they all believed in and supported the block chain project we incubated.

The Atlas project is backed by NGC, OGC, south Korean Internet giant Kakao's Ground X, Ledger Capital and others. A number of travel industry investors are also taking part in Atlas's private placement. Atlas's financial data will not be incorporated into zanadu's statements.

We don't want to overemphasize the impact of zanadu on Atlas, it's just a connection between the core teams. Zanadu and Atlas have separate teams and brands, and separate financing. However, as zanadu team has accumulated in the tourism industry for seven years, it was able to provide Atlas with resources such as brand reputation, customer partners and user community in the early stage, which is actually a matter of mutual help. Zanadu can be understood as a supplier or early customer of Atlas, which will provide block chain technology solutions for zanadu.

Q: what can Atlas do for the average user?

Hae-chan wu:

Atlas, a travel content publishing and sharing platform like Tripadvisor, is a blockchain application layer project for the tourism industry. Atlas will reassign the value of content and advertising through Tokens, eliminate rent-seeking middlemen such as otas, return control of user data to consumers, return platform benefits to merchants and customers, improve value chain efficiency, and provide a fairer economic distribution mechanism for the tourism ecosystem.

Zan spoke to Channel NewsAsia about the launch of Atlas blockchain + travel

   qWhat are the considerations for Atlas to choose IEO on Coinsuper exchange? How to see ATLS on the exchange soon after the breakHair?

Hae-chan wu:

Our first consideration is compliance, and Coinsuper is a very compliant exchange in Hong Kong with a regulatory licence. We started to go to the Coinsuper exchange normally according to the project plan. During the communication with the exchange, the other party expected us to do IEO. This time IEO was actually an AD hoc decision we made. Our main goal was not to raise money, so this time IEO only had a $1 million cap. Through this IEO, we hope to get some investors who are just interested in the project but do not participate in the channel to participate in the project at a lower price and form the initial community of the project.

Some investors expect IEO to soar many times, so there will be market money coming in. We did not control the price by hyping the heat and making a plate after the line, the price change after the line is the natural result of the market development. We're only a few days into the school, it's early, and we don't know much about it. Short-term market performance is not what we or investors focus on, and the ultimate value is driven by the completion and implementation of the project.

Q: after the "collective harvest" of the VC project in 2018, now people are skeptical about the evaluation of the Internet entrepreneurship project "chain reform". What does Atlas think about this?

Hae-chan wu:

Atlas is not a chain change project. At the beginning of last year, many people in the community were talking about the chain reform, including supporting some Internet companies to issue COINS in the block chain industry through VC endorsement. Later, the development of the project was not so ideal, which aroused a suspicion of the chain reform project among retail investors in the whole circle.

However, in the second half of 2018, when the whole industry was questioned by the outside world, we still have confidence in blockchain in the long term, and have been supported by NGC, OGC, south Korean Internet company Kakao's GroundX, Ledger Capital and other blockchain industry capitals. We have also established a cooperative relationship with GroundX, a whol-owned subsidiary of south Korean Internet company Kakao's blockchain.

Moreover, zanadu is not abandoning its main business of online travel or failing to do so, and then going into the blockchain industry to issue COINS for a completely unrelated business. Zanadu is operating in a very healthy way, with a new round of financing in early 2018 and follow-through from existing shareholders. Just like big enterprises like Google and Microsoft also have block chain layout. We made a commercial judgment when we made Atlas, and we are optimistic about the prospect of tourism + block chain for a long time.

Q: as Atlas is a blockchain application layer project, what makes the team feel the need to issue a new coin? Why not use a token or a stable token, which is more suitable for users, as the pass-through certificate?

Hae-chan wu:

At the beginning, we considered doing the corporate chain, but later we found that the corporate chain track has excess capacity and fierce competition, and the existing corporate chains such as ethereum and EOS are also doing very well. In addition, building a corporate chain is not the original intention of our "tourism + block chain" business landing, so we finally decided to make DAPP application.

I believe you are familiar with the current monopoly stories of the travel industry giants, such as the "big data killing" of ctrip and qunda, and the "content handling" incident of the hornet's nest. For these questions, we think blockchain is the most logical answer. The problem here mainly refers to that the centralized giants seize user data, use user data to make profits by commercialization, even implement price discrimination based on user data, and content producers are not well motivated.

Atlas has launched its own ATLS token in its own ecology, aiming to make use of the ATLS token to activate various participating elements in Atlas ecology. All merchants or individuals that choose to advertise within the Atlas ecosystem must use the ATLS Token as a payment method. Users can also choose to share their data with merchants, and get corresponding ATLS Token benefits based on the use of data. ATLS Token will also serve as incentive and feedback for ecological development to reward content creators of the platform. These are some simple usage scenarios for ATLS Token. If public link COINS or stable COINS are used outside the ecology, the value of such COINS and utility can hardly function independently and draw the development of Atlas ecology, so they cannot be used as the medium of value flow within the Atlas ecology to form a closed loop of our general economy.

If we do just an Internet APP project, millions of users do not say, tens of thousands, hundreds of thousands of user level should be possible. From the perspective of users, the first step of user experience we envision is a common APP for content sharing and e-commerce. Like other travel apps, it can create and share content, and also buy travel services such as hotels. However, the economic model behind it is our general economy. At the same time, the ownership and benefit right of user data can be returned to users through block chain.

Our goal is to make the economy in the tourism industry early landing. We focus on what value to bring to consumers and businesses, and how to efficiently capture users and businesses. Therefore, we are willing to cooperate with any partner who can help achieve this goal. We will work with channel management systems such as GDS and CMS to minimize access costs for merchants and third parties. We now have access to 7 GDS and channel management systems, including Sabre, Synix, Ezyield, Siteminder, etc., which are technically capable of accessing the room status information and order confirmation of one million hotels.

Q: why did Atlas's IEO choose to use Ontology financing this time? What are the plans for Atlas in the future?

Hae-chan wu:

Our current Token is based on ethereum ERC20 standard. Considering ethereum's strong development community and stable public chain ecology, the current Atlas DApp is also based on ethereum.

However, from the perspective of development, we believe that the block chain industry in the future will not be a single-chain dominant pattern, and such cross-chain communication solutions as Cosmos and Polkadot are also increasingly mature and pushed to the market. Therefore, we hope to build Atlas into a mature cross-chain ecology in the tourism industry.

Ontology Ontology develops rapidly in both technology development and user community. Ontology global capital (OGC) also invests in Atlas, providing Atlas with rich resources in both technology development and community promotion.

In the future, we will develop applications on Kakao's Klaytn as needed, as well as on common chains such as EOS, including some cross-chain ecosystems.

The Atlas project is part of the Klaytn chain ecosystem, owned by south Korean Internet giant Kakao

Next, we will try to launch ATLS on more exchanges, focusing on developing overseas communities, such as Korean communities. Take advantage of our strategic partnership with Kakao's GroundX to get more south Korean users and the exchanges that invest in Kakao to trade online.

In the future, we will focus on the commercial landing of Atlas. Through cooperation with Ontology, Korean GroundX and other blockchain companies, and zanadu and other tourism companies, as the early core partners, we will bring up the ecosystem of Atlas and attract more and more partners into this system.

The innovation and subversion of the general economy and block chain technology are real and hard to change. The advantage of Atlas lies in our years of accumulation in the travel industry, our international team and ability, our entrepreneurial experience and our faith in new technologies and our courage to innovate. With the development of the whole blockchain industry, the basic elements to build a complete blockchain ecosystem have been and are more mature, which enables us to see the vision and possibilities. To promote the implementation of blockchain projects and provide truly valuable services is the next step for the whole industry. We hope to make a positive and pragmatic exploration in the commercial landing of the combination of blockchain and travel.

Conclusion:

IEO's popularity has not been held back by a few shoddy projects. Instead, it has grown hotter and more visible.

Whether it is the block chain protocol layer or the commercial landing of DAPP application is a long-term process, and the exchange through IEO is just the beginning of the project. In the future, the real commercial landing of blockchain will not only reflect the price of the secondary market, but also reflect the votes of users with their feet.

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