Cryptocurrency experienced a boom this past year as values rose across the board. The rush was championed by Bitcoin, the first cryptocurrency, which closed 2017 out 1000% above its mark at the end of the previous year. With so much value in the coins, investors and tech enthusiasts from all around flocked to the technology with hopes of cashing in on what seemed to be a cryptocurrency revolution.
While cryptocurrency seemed to be succeeding at face value, those who are aware of their intended purpose would know that stability is key to a successful coin, something none of these traded crypto tokens currently can claim.
That’s why 2017 was less the year of the cryptocurrency revolution, but more the year of the blockchain revolution. Although blockchain technology serves as the distributed ledger and smart contract system that holds up cryptocurrencies, its applications reach far beyond banking and financial markets. Nearly any industry where value is being exchanged is ready for application to the blockchain.
In terms of human interactions, perhaps the most valuable exchange we make is through love. A new startup, Hicky, believes that the dating industry is in dire need of a change, and that blockchain technology can bring the security, speed, and trust to these platforms that they currently lack.
As many people know, dating on its own can be hard. Meeting that special someone isn’t as simple as it seems with so many people in the world. Thankfully, dating services exist to remedy this. Users can enter all sorts of data into these platforms with the hopes of being matched up with someone they have compatibility with.
The problem here is that these sites aren’t all that safe, and many times users find themselves wasting their times between straight up scams and other users misrepresenting themselves. Hicky believes that the blockchain has the solution to all of these problems.
As far as information storage, Hicky knows that there is currently no technology more secure than blockchain. Decentralized ledger technology and smart contracts allow for Hicky to do away with the central info silos that hackers target.
In addition, intercepting information from Hicky will have no value to hackers, as end to end encryption is provided for all information transfers. This includes messages between users, which are peer to peer encrypted for levels of protection that far surpass other platforms.
By using the blockchain, Hicky is also able to incorporate trust into their dating app. While oft forgotten by other dating services, trust is integral to building strong and lasting relationships. Blockchain is unique in that it offers incentive structures that previous application development platforms didn’t.
By implementing a proprietary HKY token, Hicky makes it worth peoples while to act pleasantly, and rewards users who consistently are well behaved. The Hicky service is based around the HKY token in order to make sure that the trust system functions. In tandem with artificial intelligence, the dating platform is years ahead of its competitors.
Users can easily sign up for Hicky and make an account to get started dating. Verification for profiles, while quick, is also top notch. Using artificial intelligence, users must perform a two-step verification of their face, comparing a picture from their front facing camera to one from a government issued license.
AI is then utilized for voice recognition of a small sample of a new user speaking. From this sample, the AI algorithm is better able to discern whether or not someone is who they claim to be. While this helps to alleviate scams in a major way, it is not the only element of Hicky’s trust suite.
Users must commit HKY tokens in order to match with and talk to other users on the platform. This in and of itself creates an obligation for the user to dedicate some part of themselves to the conversation. If the two users decide to go on a date, they can schedule through Hicky. Users again commit HKY tokens in order to set up a date. If all goes well on the date, then a relationship may be formed.
If there is a problem, however, Hicky has included on its application a conflict resolution system to return tokens to users slighted by others and penalize those who act poorly. This HKY token system self-regulates the platform as users who act poorly quickly lose their ability to chat with people and schedule dates.
As cryptocurrency continues to power the blockchain revolution, it will be important to watch out for companies that are doing novel things with the technology. Blockchain has applications in nearly every industry that involves exchanges, including in our personal lives.
Hicky has realized this and, through the blockchain, is poised to revolutionize the dating industry. With a demo already on the app store, this company is definitely one analysts and enthusiasts should watch out for in the future.
