Cryptocurrencies are mostly community-driven, and there is one platform which is taking a step further in the same direction by creating a blockchain solution. The NewsBTC team caught up with the founders of Wikibits to know more about what they do.
We asked few questions to the founder of Wikibits, Warren Wang and this is what he had to say:
NewsBTC: Wikibits, the name sounds so familiar, just like Wikipedia and many other “Wikis” out there. Can you please tell us what is so special about your platform?
Wikibits: Wikibits is the first solution-driven Wiki that is powered by our own cryptocurrency, WIKI Tokens. At Wikibits, we are taking a radical approach to how solutions are generated. Unlike other wikis out there, we are more than just an information portal. Wikibits bridges the inference gap that users experience with traditional search methods by tabulating community responses as a supplement to existing knowledge bases to provide users with the best answers and convenient access to products and services. Our platform, as the go-to portal for solutions, products, and services, will give objective and community-vested responses, reducing information fatigue and saving time to enhance the quality of life for individuals.
NewsBTC: What do you intend to achieve with Wikibits?
Wikibits: There are primary objectives and secondary objectives. Primarily, we aim, first and foremost, to provide a product that will save people time and energy while simultaneously collecting and tabulating information in a way that will be useful to humans. We want to achieve an ecosystem where information can be turned into knowledge, and knowledge can be directly translated to the real world. Wikibits intends to bridge gaps in existing knowledge bases and at the same time, seamlessly interlink users, solutions, products, and businesses in an integrated platform.
NewsBTC: Is Wikibits a for-profit or a non-profit initiative? How do you intend to generate revenues?
Wikibits: We are taking a hybridized business model, with a for-profit segment and a non-profit foundation. To generate revenue, the for-profit segment will engage in smart advertisements and marketable product development. Smart advertisements will be displayed relevant to the question posed or the answers retrieved. The nonprofit organization will receive a portion of the revenue generated to be used for scholarships and to aid in the development of information and blockchain technologies.
NewsBTC: What is the progress of the platform so far?
Wikibits: Our Alpha Submission Portal is scheduled to go live on January 25th, where presale and ICO contributors can earn Wiki tokens by contributing their knowledge on sponsored articles. The main purpose of the Alpha portal is to allow the community to interact and engage with each other on key areas Wikibits should target first during the beta development phase.
NewsBTC: How can individuals and businesses benefit from Wikibits?
Wikibits: Wikibits has a win-win infrastructure for individuals and businesses. Individuals save time searching for solutions and finding the relevant products and services. For businesses, we bring the right customers to their doorstep.
NewsBTC: Tell us more about the crowdsale. How much is the platform looking to raise? What will the funds be used for?
Wikibits: Our base rate is 8,000 Wiki Tokens per Ether. We have a hard cap of 250 million WIKI tokens available during presale and ICO which is equivalent to 26535 Ethers. The majority of the funds will be used for product development and aggressive marketing to bring awareness of Wikibits to the public.
NewsBTC: How about the team? Anything you would like to share about them?
Wikibits: Our team is comprised of dedicated individuals with decades of combined experience in Global Fortune 500 companies and government institutions such as the National Institutes of Health, Reserve Bank of India, HP, Boeing, BMW, and Qualcomm.
NewsBTC: What are the future plans following the crowdsale?
Wikibits: Following the crowdsale, the Alpha portal will still be available for submissions. Meanwhile, we will be extrapolating data from community responses and existing knowledge bases using Natural Language Processing and Machine Learning Algorithms, followed by the development of the beta platform and the simultaneous commencement of aggressive marketing. And of course, listing our token to be traded on various exchanges.
NewsBTC: Any partnerships or collaborations so far? What about in the near future?
Wikibits: So far we have partnered with Rupee Blockchain, one of the biggest India-based blockchain company, to facilitate the development of our own blockchain, Wiki chain. We have also partnered up with JinSheng Communication Technology Co. located in Shenzhen, one of the biggest technology centers of China, to facilitate the rapid development and integration of our mobile platform. In the near future, we plan to contact various content management system companies for collaborations. We also have plans to partner with other cryptocurrency companies engaging in similar industries.
NewsBTC: Anything you would like to convey to our readers?
Wikibits: Our platform has one the greatest growth potentials on the market. In addition to the potential to disrupt a 2 trillion dollar industry of Information Technology and Marketing, Wikibits offers the flexibility to expand into many other profitable industries such as personalized healthcare, drug development, and other marketable innovations. Most importantly, in combining the power of man and machine, through community knowledge and machine learning, we aim to provide a product people need and will want to use.