Proposed Solutions
"Place," "time," and "circumstance" are fundamental factors shaping individual and collective experiences. People naturally interpret their lives through these lenses, constructing mental maps to process and recall events. These parameters are also critically important for IT companies, physical businesses, and consumers.
Blockchain networks inherently record the "time" of a transaction and the information within the transaction body, which essentially is the "circumstance" parameter, reflecting the reason for the transaction. It is believed that in a decentralised network, there is no specific "place" and therefore it does not require recording, but this does not mean that this parameter is less important in reality. Geolocation services are fundamental in most classical IT projects, yet their value is often overlooked in the blockchain industry. As technology becomes increasingly embedded in our daily lives, the significance of geolocation will rise. We foresee a strong demand for blockchain platforms and applications that leverage geolocation tokens in the near future.
Geolocation and NFTs
Geolocation is inherently unique for specific events, making NFT technology ideal for creating geolocation tokens (GeoNFTs). These tokens can record objects, content, facts, and achievements linked to particular locations.
To cater to physical businesses situated in specific areas, a new type of NFT (LandNFT) will be created. These LandNFTs can be used to:
Advertise businesses
Attract audiences
Convert land plots into digital venues
Create internet pages or event spaces in augmented reality (AR)
Attracting Projects and Developers
To attract projects and developers to the ecosystem, motivate them, and create a decentralised autonomous organisation (DAO) as a governing body, it is necessary to offer a fully transparent, fair, and secure solution that stands out from those currently available in the market.
It is clear that the numerous studies, developed infrastructure, smart contracts, interface designs, marketing solutions, and documentation created for our project are the intellectual property of our team. However, external projects that join the ecosystem will retain rights to their own products. During our cooperation, there will inevitably be an exchange of information and intellectual property within the ecosystem. Based on this, we concluded that a compelling idea for creating a DAO community would be to tokenise collective intellectual rights as RoyaltyNFTs. These tokens will be distributed to participants based on their contributions to the ecosystem, allowing them to earn royalties from the ecosystem's revenues.
Ecosystem for Geolocation-based Services
The ecosystem is designed for developers of geolocation-based services and applications, allowing them to record any geolocation-related information as GeoNFT (geolocation NFT) tokens. This system can be applied, but not limited to, the following areas:
Product Manufacturers: Provide partners and consumers with guaranteed information about the origin of goods and their components, including the specific place and time of creation.
Logistics Services: Provide accurate tracking of object movements and verifiable guarantees, ensuring transparency and reliability of the entire supply chain.
Real Estate: Trade tokenised real estate with precisely recorded coordinates and parameters.
Loyalty Programs: Offer discounts and rewards based on visits to specific locations, effectively managing offers and stimulating customer loyalty.
Public and Charitable Organisations: Facilitate decentralised and transparent receipt of donations, ensuring traceability and accountability in fundraising activities.
Public and Government Organisations: Automatically and transparently document historical and contemporary facts and events requiring precise verification of geolocation and timestamps, promoting certain locations to attract audiences.
Gaming Projects and Players Using Geolocation on Real Maps: Tokenise achievements and artifacts, allowing players to monetise their achievements and earn profit from their sale.
Social Applications, Users, Artists, and Content Creators: Promote and monetise content in specific locations, earning profit from content sales.
Travellers, Athletes, and Enthusiasts: Record presence, achievements, and experiences in specific places at specific times that can be verified.
Collectors: Manage assets in the form of geolocation NFTs (GeoNFT), whose value is determined by their artistic merit, thematic relevance, significance of achievements, and the popularity of the author and the geolocation.
AR Applications and Advertising: Since AR technology overlays a virtual layer on the physical world and is inherently tied to geolocation, all objects in AR space require geolocation recording. This technology can fully leverage all the aforementioned opportunities, using AR space display and GeoNFTs as digital rights for advertising in AR space.
Infrastructure Projects: Smart contracts that expand ecosystem functionality, including marketplaces, exchanges, and pawnshops.
Principles for Smart Contracts Creation
The main principles for the creation of smart contracts in the ecosystem are as follows:
Ensure maximum transparency, decentralisation, and fair profit distribution among all stakeholders, achieved through the "50/50" model via open smart contracts.
The ecosystem avoids reliance on a native ERC20 token, eliminating user dependency on exchange rates. Instead, it utilises well-established tokens from the blockchain networks it supports.
The ecosystem supports multiple blockchain networks, allowing users to create the primary product, GeoNFT, in any of the connected blockchain networks.
Using the DAO contract, the ecosystem addresses all crucial issues through community voting, including granting funds to new projects from the DAO treasury.
Ownership of LandNFT and RoyaltyNFT is restricted to individuals and organisations that have contributed to the ecosystem in the form of intellectual property, with the minimum requirement being the ownership of one GeoNFT.
The smart contract system is designed to be modular, enabling application developers to use necessary extensions for their specific activities without incurring additional gas costs for unnecessary options, and to integrate their own contract extensions.
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