For starters, SRCOIN is a subscription revenue coin, based on the Blockchain technology, aimed at the health industry. It’s actually the first decentralized subscription-based business in the world of cryptocurrency that increases the value of its coin over time.
If you don’t know how a subscription-based business works, here’s a quick rundown. The business model is based on an idea of giving users prolonged access to a product or a service for a fixed monthly fee. For example, Netflix is a subscription-based service.
The Korean-Malaysian company behind the project, K-Rental, is best known for its water-purifying products. Last year, the corporation earned more than 10 million dollars from sales alone. Moreover, they are the 3rd-biggest subscription-based business in Malaysia.
The company is planning to use massage chairs as the main platform for their business. Here a few reasons the company listed for this decision:
· Massage chairs are shared devices. Just one of them could allow you to collect health data of all members of a certain household. The company is collaborating with COMTEK in an effort to develop Wi-Fi capabilities that could measure temperature, heart rate, and even blood pressure.
· This information would allow the company to create a database for all members of the household. What’s more, the information collected over time could give the family doctor all the information they need to perform routine checkups.
· The database will also display various trends in each data-type collected. And this could be an important source of crucial medical information for preventive care, early-stage diagnosis, and various other medical treatments.
· Multiple chair positions allow you to have more accurate health data. For instance, if you need the information for the Ankle Brachial Index, you need to lie down on your back. Luckily, the massage chair can be positioned this way.
In addition to the subscription-based system, SRCOIN also offers coins that could potentially become a great product, which holds high-value on the exchange market. According to the White Paper posted on SRCOIN’s official website, this is the company’s business plan:
· Around 30 percent of the profit earned within the six-year period – this means six years after the completion of the ICO – will be used for the buy-back-and-burn program. This will decrease the supply of the coins on the market and help raise the price of SRCOIN.
· Roughly 20 percent of profits will be returned to the contributors. They contributors will receive their returns in the Ethereum currency. This means the contributors will be able to see a significant return on their investment, without the need to sell their SRCOINs.
· The remaining profits are going to be invested in the subscription business.
The funds raised by the ICO and generated by the subscription businesses will be calculated by a 3rd-party accountant, in order to ensure transparency.
That’s the basics; however, if you want to know more about SRCOIN and the company’s future plans, we recommend you visit their website and read the whitepaper – you can download it in PDF format for free – in order to have a better understating of their system and plans. You can also find and reach them on Facebook, Twitter, and Bitcointalk Forum.
Links of interest: