Today's Centrality price is $0.079086, which is down 7% over the last 24 hours. Centrality's market cap is unknown. 24 hour CENNZ volume is $119,146. It has a market cap rank of 1752 and max supply of 1,200,000,000. Centrality is traded on exchanges. Centrality had an all-time high of $0.187095 almost 2 years ago. Over the last day, Centrality has had 100% transparent volume.
Centrality CENNZ is a utility token that is used within the Centrality marketplace and gives access to Centrality software. Established in early 2018, Centrality is an Auckland-based venture studio (New Zealand) that creates a range of innovative software products. The company creates a marketplace where dApps developers can list their products and enhance them with the help of the whole library of tools. Centrality helps to establish reliable communication between dApps as it supports real operating businesses and assists them in reaching mainstream audiences faster.
The goals of the project
The company discovered a way to tackle the competition between the startups, which becomes more severe as the number of apps grows in time. Large companies with more resources and access to user data turn out to be in a more favorable position than small startups. With the Centrality approach, the rules of the game become more equal for companies of different sizes.
Centrality is a game-changer, as the companies can cooperate with each other and thus grow stronger together. The component-based structure provides flexible control over the product. The design of applications is standardized to deliver seamless user experience within the ecosystem.
The key goal of the project is to create a fairer environment for all businesses. As big corporations and companies remain in control over users’ data, Centrality aims to give this control into the hands of common users. With its help, small companies will get better chances to succeed in their activities.
The Centrality platform
The platform developed by Centrality makes up the foundation for the marketplace that offers an extensive assortment of decentralized applications for startups.
In order for a decentralized app to become available to other users, it’s sufficient to complete the signup form with no other additional procedures. The members can use a single login to enter the blockchain infrastructure. The apps listed on the platform are focused on business development and are helpful for multiple customers and merchants who can use their resources in a more efficient way.
The company also runs its own blockchain incubator program named Centrality Ventures. The startup joining the program gets assistance (the initial funding is 69,000 USD worth of ETH) within the frames of the ecosystem. The platform obtains 20% equity for the support of approved startups.
Centrality provides software and shoulders responsibility for technical aspects of business, while startups can fully concentrate on their activities. The apps are developed with the Centrality Software Development KIT on the Centrality Platform. Startups pay with CENNZ tokens for this service.
Centrality uses different protocols enabling scalability of the decentralized marketplace. It also uses smart contracts with different goals as they can be used as a means of payment to merchants, tokens exchange, rewards for token holders, etc.
The customers can use CENNZ to purchase physical goods from merchants in the real world. It can be done on the CentraPay platform that integrates with payment terminals, vending machines, and points of sale. It improves the consumer experience as users don’t have to pay for the banks’ services. It’s free for merchants to accept digital assets. CentraPay allows businesses to scale without capital investment.
Also, integration with the platform provides businesses with exposure to a network of merchants for the engagement of consumers and the creation of dApps via a decentralized ecosystem. It helps them grow more rapidly paying lower expenses in comparison with traditional methods of business development.
The token CENNZ is used as fuel for the purchase of modules and services. The tokens are not mined but can be earned or minted. It's possible to earn CENNZ via referral programs promoting the services of some companies. The Centrality reward program gives token holders a possibility to earn money by staking the CENNZ tokens or by running a node.
Usually, Initial Coin Offering (ICO) is arranged to raise funds to create a new product. Unlike companies following this pattern, Centrality has an extensive portfolio with ready applications. Prior to launching the fundraising process, there were already 20+ applications in their portfolio which contributed to the reputation of the project and increased the value of tokens before the token sale.
The ICO that took place on January 16, 2018, was quite successful as all available CENNZ coins were sold out in just 6 minutes helping the project raise 88 million USD. The investors paid in Ether for the tokens and the amount was added to 15 million USD raised a year before in a pre-sale.
The funds raised via the ICO were distributed in the following way:
63% - development of the platform 25% - to developers’ support and user acquisition 10% - expansion of NZ office 3% - other expenses
Distribution of total supply 70% of CENNZ were sold in the ICO 20% were reserved for the protection of intellectual property rights 5% - allocated to the developers 5% - for the needs of the platform
The users can store CENNZ on any ERC20-compatible wallet such as MyEtherWallet. If the hardware wallet is needed, then Ledger Nano S and Trezor can work. One can acquire CENNZ on HitBTC and Cryptopia platforms.
The team includes 75 people located in different countries (Auckland, Singapore, Melbourne, and London).
The venture studio partners with leading innovators in different industries to develop the marketplace. The head of the team and CEO of the project is Aaron McDonald, with more than 20 years of experience embracing different spheres of the tech industry. The other key persona is the chairman Roger Smith who worked in Euronet and also took the position of the CEO in ePay NZ. The Chief Commercial Officer of the company is Jerry Yuan who worked in Telco, ICT industries and used the experience he accumulated in the past for the benefit of this company.
Centrality partners with SingularDTV developing modules: payment solution Paycheck, accounting widget Blockkeeper, and the decentralized exchange platform SingularX. It also partners with Blockhaus AG.Read More