What is Openplatform Project?

What is Openplatform Project? | Ecency

What is Openplatform project?
Introducing OPEN Scaffold and The OPEN API

Enable your application to accept users automatically and verify purchasers on the blockchain. Manage Volatility in accepting cryptocurrency with your application. Enable the benefits of decentralized architecture and the strength of your backend together.

There are several of components that create the OPEN platform, such as Scaffolds, OPEN_states, the OPENWallet, and Developer Wallet.

Scaffolds are blockchain agnostic, general structure smart contracts which will act as the payment processor. They can be changed to suit the company’s payment model (i.e. subscription payment model, one time payments, in-game payments, etc), adding a lot of utility to blockchain payment systems.

Depending on how the scaffold is set up with a program, a user can pay for a service, or an in-game currency, and, in return, they get an OPEN_state, which represents the access to a promised service, or the number of in-game currency that person has.

The OPENWallet is one where a users’ cryptocurrencies and OPEN_states are stored. This wallet is then used as an access point for whichever program they are using, depending on what the OPEN_state represents.

The Developer Wallet is where the funds being paid into a scaffold end up going. This will utilize the OmiseGO SDK, which grants developers flexibility in choosing the kind of currency their wallet will receive.

They propose these components will come together, along with an easy to use API, to provide apps, developers, and businesses with a useful blockchain payment system.

What Problem Open Platform is Addressing?
The blockchain offers lots of advantages and unique opportunities to developers, yet, there are still some features of the technology that prevents its mass adoption. One of the major restrictions is that centralized applications cannot be easily integrated with decentralized systems on the blockchain.

Many centralized applications would benefit greatly from, say, the payment systems offered by some blockchain platforms, but the only way they can enjoy these advantages is to develop payment gateways that are hardcoded for their application. If another centralized project wants to enjoy the same benefits, it also has to develop its own unique gateway. This difficulty in connecting centralized and decentralized systems is what the OPEN Platform wants to remove.

Open Platform Value Proposition
OPEN wants to provide an API that will allow easy integration and connection between centralized and decentralized systems. The project plans to unveil an innovative new tech—a decentralized application payment gateway—that will enable seamless integration with current application backends.

Aside from the payment gateway, OPEN will also make it possible for developers to incorporate decentralized technologies into existing technology infrastructures, thereby boosting the mainstream adoption of blockchain-based networks.

Open Platform Founding Team
Open Platform’s CEO Ken Sangha was the founder and CEO of DoublePlay Entertainment for 4 years. During his time as CEO, he helped the company scale 8 figures and increase in-app spending by over 900% per user. Ken also serves as an advisor to various startups and accelerators.

The project’s CTO, Andrew Leung, is also well experienced. Leung worked in several capacities and on several projects during his 4-year+ stint at Pivotal Labs, a billion-dollar software company. He was also Lead Architect and Designer for the Grinder app (over 50 million downloads).

They are joined on the team by other well-experienced developers and marketing experts.

Open Platform Market
The OPEN project has a unique value proposition and the team is aiming to build a platform/protocol no other project has been able to build successfully. If they succeed, they would not only have revolutionized blockchain technology, they’d also have the opportunity to carve out a market segment that has no other major competitor.

How big can the market segment grow to become? Well, think of it this way: if one platform holds the key to the mass integration of blockchain-based networks, the project that developed the platform will essentially be holding the keys to the large-scale adoption of a $300 billion market. That is a very good/lucrative position for OPEN to be in.

Open Platform Roadmap
OPEN token sale is expected to commence in March 2018 but no specific date has been released yet; an on-chain MVP is also due to be released in the same month.

The OPEN Wallet security design is expected to be released by April 2018, and the first version of the OPEN platform will reportedly go live in July 2018.

An updated version, the OPEN 2.0 is expected to be released in December 2018. The project also claims that a fully independent sidechain will be created in February 2019 and the OPEN 3.0 will be released 2 months later.

Open Platform SWOT Analysis
Strengths

OPEN has a very relevant use-case.
The project has a well-experienced team.
Their roadmap is well-detailed, and they plan to release a fully-functional platform by March 2019.
Weaknesses

Some core team members still hold positions at other companies.
$30 million is a sizable hard cap to target.
Opportunities

OPEN’s API will enable developers use programming languages of their choice on the platform.
By facilitating the integration of off-chain databases with the blockchain, OPEN provides a platform for the development of sophisticated apps.
Threats

Dependency on third-party apps e.g. IPFS and Microraiden.
Team
CEO Ken Sangha: Scaled real money casino app development company to 8 figures and achieved #1 in Itunes UK. Invited Panelist and Advisor to Yahoo and Flurry.

CTO Andrew Leung: Deployed Asia Pacific headquarters and lead new team for Billion dollar software company Pivotal labs. Lead engineering team for Facebook for Blackberry 10OS and scaled for over 1 million daily actives.

BLOCKCHAIN LEAD Abhishekpunia: Draper associates and cryptocurrency due diligence Enigma ($45m ICO) Core Contributor of Enigma MPC. Faculty at Blockchain Research Institute.

LEAD ARCHITECT Chase Smith: Developed DKG library for On -Chain Randomness and analyzes DEX’s on behalf of the Blockchain Research Institute.

LEAD SMART CONTRACT ENGINEER Dustin Sinkey: 4 years+ as a full stack developer, developed full stack application to manage conten for millions of monthly viewers.

DIRECTOR OF STRATEGY Roger Jin: Featured on New York times, CNBC, Business Insider. Boostrapped multi million dollar consumer technology start up.

DIRECTOR OF MARKETING Dennis Lewis: 14+ years of marketing and managing experience. Extensive ICO and Blockchain marketing experience.

MANAGING DIRECTOR Alvin Lau: 11+ years of technical project management experience. Project lead bringing projects value over $200 million to success.

PRODUCT MANAGER Steven Zhang: Received backing from MaRSDD and Velocity Accelerator at UW. Founded a fas growing social food platform.

PRODUCT MANAGER Vincent Vuong: Strong technical background DevOps at Oracle, Mobile Developer, a Compass, and Full Stack Developer at Yext.

OPERATIONS ADVISOR Will Bunker: Former Match.com President. GrowthX VC founding partner.

PAYMENT ADVISOR Lorne Lantz: Paypal partner and Payment entrepreneur. Technical editor of the book “Mastering Bitcoin” (O’Reilly)

FINANCE & PARTNERSHIPS ADVISOR John Gardiner: Pioneering partner for Facebook Messenger Games & Apps Platform. 7+ years in tech finance & gaming industry.

ADVISOR Roger Lim: Founding partner Neo Global Capital. Advisor for successful projects like Bluzelle, Qlink, CoinFi, Selfkey, TheKey, Tomocoin, OChain.

Roadmap
September 2017: White paper published
February 2018: Open testnet on and off chain MVP
March 2018: Open complex applications MVP 2.0 (On-chain) & Token sale + android
April 2018: Open API docs draft & Open wallet security design
June 2018: Developer beta program & Open SDK 1.0
July 2018: Open 1.0 goes live (on the ethereum platform, open API, open wallet) & Open SDK 2.0
December 2018: Update to open 2.0 (Available through Ethermint, IPFS Integration)
February 2019: Creation of the blockchain or HUB (To act as an independent Sidechain of Ethermint)
April 2019: Update to open 3.0 (Multi-coin integration on Open wallet)
TOKEN SALE
ICO Platform: Ethereum
Industry: Blockchain Service
Price: $0.08
Bonus: N/A
Soft Cap: N/A
Hard Cap: $30 million
Total Number of Tokens (Available for sale): 1 billion OPEN (500 million OPEN)
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