Centrality (CENNZ)

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 software

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.

Centrality ICO

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.

Centrality team

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.