What is DateCoin?
DateCoin is the blockchain evolution of online dating service Denim, which is the market leader of dating services in Russia.
— DateCoin Team
Paxtradings Quick Facts
- DateCoin is a token designed for a new international dating service, and the next generation of an already in-market product, Denim.
- 0.00025 = 1 DTC token
- March 30, 2018 — May 30, 2018
- 189,000,000 total available / 290,769,231 total supply
- MVP has over 700,000 users
Q&A with The DateCoin Team
Paxtradings: For those who are not familiar with DateCoin, can you explain what it is and what the goals of the project are?
DateCoin: DateCoin is a highly liquid utility token with price rise mechanics implemented, secured by the growing active audience worldwide. DTC token is a part of an online dating service ecosystem with neural networks and artificial algorithms implemented based on a working business model with blockchain use.
The founders aim to employ cutting-edge technologies for intelligent dating with your soulmate, or at least with a person who shares similar interests. It is about artificial intelligence and big data processing. AI will analyze users preferences, contact history, etc. and provide a pool of the best matching partners.
Blockchain is used to create a trustful environment and to solve user identification and verification problems. Distributed data technology ensures authenticity of each verified account. The project has an MVP — online dating service Denim (https://mvp.datecoin.io), which is the market leader of dating services in Russia.
In the future, the token rate will be secured by the growth of our dating service audience worldwide. According to the forecasts, DateCoin will reach a milestone of 20 million app users in the next four years. Most of them will buy DTC token on the exchange to pay for unique in-app features or to buy services with discounts.
Paxtradings: How does the DateCoin token (DTC) function within the platform and why is it needed?
DateCoin: We are going to use tokens as a key to the DateCoin ecosystem as an alternative payment instrument. All users will have two payment options: with fiat currency and with DTC tokens (special offers available). When paying via DateCoin tokens, users will have discounts for all in-app purchases and they also will be able to buy unique purchases available only for tokens. This approach will also popularize blockchain technologies and cryptocurrencies among dating app users.
Paxtradings: Your target audience includes 19 million potential users in the next three years. How do you plan to market DateCoin to attract that many end users?
DateCoin: We have a team of professionals in marketing, PR, and traffic. For two years, we reached 700,000+ users and this figure is continually growing. We are going attract users by:
– Advertising in regional media
– Working with opinion leaders (YouTube and Instagram bloggers)
– Buying banner advertising on Google AdWords
– Facebook — purchase of application installs with purchase optimization
– Twitter — purchase of application installs with purchase optimization
– Google AdSense — purchase application installs
– Google Adwords
– SEO for all used search inquiries
– Work with various Internet resources and purchase of materials from various media
– App Store optimization — local service promotion in mobile app stores for key inquiries
– This complex approach will attract millions of users with moderate costs.
Paxtradings: We’ve seen data breaches with similar products in the U.S., like Ashley Madison. What does DateCoin do to prevent these data breaches from happening?
DateCoin: Cyber attacks on dating services are often successful due to cuts of funds allocated for cyber security. As a result, personal data, credit card information and private correspondence leaks occur.
Any service providing its users with chats sooner or later faces to security issues related to message storage and transmission. There have been cases where personal data was disclosed, affecting the reputation of dating services. Therefore, we have several issues to resolve. First, we have to ensure personal data safety and chat security. Second, we need to obtain all the necessary information to help our users to date the right person.
We intend to use symmetric data encryption for secure chatting. In addition, semantic message analyzer will act as a participant in dialogs between users. The only difference between the analyzer and user is that the former does not store messages and removes them from the servers. The server stores messages in encrypted form in the main database which is often the target of hacker attacks. Therefore, all decoding keys are stored on a separate server. This approach will allow us to protect data from unauthorized access and manipulation, as well as solve most of the security problems that might arise in those cases when our staff has to interact with the servers.
Paxtradings: How does the neural network and face recognition technology play a part in the platform?
DateCoin: We use the following procedure to verify our female audience: each girl sends a confirmation photo with her profile ID written on a white sheet of paper. After that, our moderators compare the person in two photographs.
The use of neural networks and artificial intelligence algorithms will help automating the verification process, and thus minimize moderation costs. Moderators will only have to deal with disputes.
Using computer vision technology, we will be able to protect our users from dating girls posing as other people.
From all the problems of dating services, we would like to pick the key one. That is, all the preferences user has in his or her mind regarding an ideal partner cannot be considered by up-to-date services. Moreover, the user himself is often unable to figure out what he wants. Well, the basic parameters can be for sure set, but others, rather more complex, responsible for finding your soulmate, remain untuned. We may unconsciously like communication manners, sense of humor, or even smile…That is artificial intelligence to consider all these hidden factors.
For instance, nowadays face recognition technologies advanced as far as identifying a person’s mood by photo. Thus, employing face recognition and data clustering, neural networks are capable of solving multi-parameter problem of finding the best matching partner from millions of users worldwide. That is how dating can meet all the users expectations.
Let me give you an example. Many men dream of girls of a certain type, or of girls, similar to their friends, with whom they for some reasons failed to build a relationship. Neural networks give an opportunity to find the only one that completely satisfies the user’s requirements among millions of girls signed up for the service. The criteria may include face images and body parameters (bra size, waist circumference), lips and nose shape, body proportions, and much more (up to the voice timbre). He does not need to set a lot of filters or scroll down through endless profiles. All that is required is to upload a photo of an ideal one, and let artificial intelligence pick up the best matching girl.
Being a self-learning ecosystem, the service will also take into account prior user activity, including profiles viewed, chats and calls history (using in-app anonymous calls), and so on …
Based on the knowledge gained, an artificial intelligence will provide customized recommendations and pool of the best matching partners. If the user preferences change or he wants a completely new experience, the standard filters can always be applied, for the search engine to quickly tune to the updated expectations.
Employing neural networks for dating is closely related to big data processing. It is not a secret that big search engines have already gathered all the information regarding users preferences, including favourite music, politics and other interests. Being analyzed, this data is used for targeted ads, music and news suggestions, etc. Moreover, big data is quite useful in traffic analysis for hacker attacks prevention and optimization of business processes.
With syntactic and semantic analysis of dialogs, special algorithms can identify users’ goals, preferences and characters. As a result, all users will be split in groups based on goals and interests and matched with the soulmates, with all the frauds filtered. Artificial intelligence will further filter the reduced pool of the matching partners based on averaged favourable face. That is how DateCoin will operate, to provide users the most relevant search results, based not only on appearance preferences, but also on users goals and interests.
Moreover, with users’ activity analysis, one of the key threats the majority of dating services suffer from, swindlers, can be identified and prevented. Thus, technical support will be more efficient and the quality of services provided will increase.
See how these technologies work: http://joxi.ru/krD4gk7t0vqGPr
Paxtradings: How far along is the project today and when can contributors expect to use the platform? What does the roadmap look like for 2018?
DateCoin: We are already working MVP with more than 700,000 active users and all the contributors can try it right now by downloading the app. According to our roadmap, the plan for 2018 is follows:
Implementation of DTC tokens and other cryptocurrencies acceptance in current MVP (product prototyping, blockchain integration into the current MVP)
Detailed study of dating service audience and identifying the most convenient payment options
Legal issues analysis for service launch in particular countries
Development of legal solutions and adjustment of MVP
Start R&D of neural networks and AI; machine learning tests
Conducting marketing campaign in target countries
Start R&D for further implementation
App launch in first seven countries
Covering target audience in 2–3 countries of the first stage
DateCoin app launch for specified target segments
As of today our app accepting cryptocurrency for payment and DateCoin acceptance will be launched right after ICO. We have started the investigations in legal and marketing fields. We have a team of neural networks and AI specialists who already started working. Our app is already translated on 3 languages and available for downloading in all countries.
Paxtradings: As a non-DateCoin question, we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?
DateCoin: We operate in the cryptocurrency market, and therefore we consider it promising and interesting. We are confident that this market will develop, but let’s turn to the following points. In 2017, experts fixed the constant growth of cryptocurrency and made up optimistic forecasts of the market, and the media wrote about new established records, specifically bitcoin nearing $20,000. And those who invested in the right coin in time earned while others simply pondered the feasibility of investing in cryptocurrency. Today, the digital money market is at the stage of development, stabilization, sometimes shocking and surprising with unexpected events, but you can also be ready for this spontaneity and be at the right time in the right place. We are confident that digital currencies will only increase their audience, because cryptocurrencies give people much more freedom than ordinary fiat money.
The situation with the ICO market is slightly different: it has grown to an incredible size. The popularity of ICOs is gaining momentum since 2014, and today has reached its peak. According to data of coinschedule.com, for the last four years the following dynamics of the ICO market was observed:
2014 — $0.026 billion
2015 — $0.014 billion
2016 — $0.222 billion
2017 — $3 billion
Last year was a turning point in the history of ICOs — the number of ICO campaigns increased to 500. In the first six months, ICOs allowed projects to raise capital in the amount of more than $797 million. In total in 2017, 400 projects collected over $3 billion of investments through ICOs. To date, the krauseyls continue to be active, and this amount is increasing every day.
Thus, we can say that in 2017, almost every day, there was a new project that sought to attract funding through an ICO. However, along with the growing popularity of ICO, the number of projects that do not reach their goals has also increased. In July 2017, their share was 7% of the total, in August it was 54%, and in September, 66%. Collecting funds is becoming more difficult! And this means that the ICO market needs intensive therapy. The rules of the market should change so that scam projects understand that it’s not profitable to enter the market! Only after this, the remaining projects will be able to shape a healthy market and grow stronger.
GodIsLove from the DateCoin Telegram asked: From my understanding, both the ICO and the private sale are for acquiring DTC (DateCoin), which is used in the dating app. What are the benefits of someone who is not interested in dating, but would like to invest?
DateCoin: To be honest it is almost impossible to get funds without big investors. But big investors just don’t need such amount of utility tokens. So, it is possible to attract only those investors who really like the idea and want to participate in our project’s future. The investors can contribute to the project during the ICO stage and then sell the tokens (if they don’t want to use them in-app) to our app users. By the way, we can guarantee the high demand for the tokens from the growing audience of our app users.
We have entered the ICO market to scale up the project globally while retaining control. At the start, we received five offers from venture capital funds, however, to receive funding they demanded us to sell a share in the project. We turned the offer down.
The Pre-ICO began on November 29, 2018 and ended on December 31, 2018 when the presale hard cap was reached. There was a minimum contribution amount of 0.1ETH. Over 48,000 DTC were sold during the Pre-ICO at a 25% bonus.
The main ICO will begin on March 30, 2018 and will end on May 30, 2018. There are a total of 189,000,000 DateCoin tokens (DTC) available during the main ICO, representing 65% of the total DTC supply. A hard cap of $20,000,000 is set for this period.
0.00025 = 1 DTC token
Current accepted currencies for DateCoin include BTC, ETH.
DateCoin is an ERC20 token, so it’s important that contributors use ERC20 compatible wallets to send funds to the ICO smart contract, and to receive the DateCoin tokens.
There are a total 290,769,231 DTC tokens being created, with 189,000,000 available during main ICO.
Contributors will have their tokens distributed shortly after the end of the ICO. Visit the DateCoin website for more information and the contribution address.
How to Contribute
- Navigate to the DateCoin Website and click the “Participate in Private Sale Button”.
2. Enter your email information into the form and click “Send Request”.
3. Find the e-mail in your inbox and follow the “Verify your e-mail” link.
4. Create a free DateCoin account to access the dashboard.
5. The dashboard will allow users to request a special price for the private sale, join the whitelist and earn free tokens through the referral system.
Use of ICO Proceeds
Use of ICO proceeds dependent on funds realized:
- DateCoin Website, DateCoin (2017)