Wysker: A German ICO

Wysker: A German ICO

On Monday, October 2, a German company launched its own ICO with the Berlin start-up Wysker. The shopping app wants to revolutionize shopping with a blockchain solution.

Wysker: A German ICO

The ICO wave also gradually reaches Germany. The startup Wysker from Berlin has since started to sell in a pre-sale token. This is one of the many other projects that collect funds from investors through Initial Coin Offering in order to work on the implementation of innovative ideas. The use of the blockchain is becoming more and more attractive - especially for smartphone apps.

The Wysker platform follows the self-imposed claim to create a "digital trading platform, from which buyers and sellers benefit equally" and thus a "completely new type of e-commerce: blockchain-based mobile shopping". The Wysker shopping app, which brings together customers and suppliers, serves as such a platform. It is also intended to give the consumers complete authority over their data, including control and all rights. ESPecially in times of Google, Amazon and Facebook, this is a particular challenge, because these globally operating and yet centralized companies can collect, store and even trade their customers' data in large quantities without the consumer's own handling.

This problem is to be solved with the Wysker blockchain application. With the Wysker app users can find desired products in wind routes and are rewarded for product views with Wys-Token. In contrast to centralized platforms, however, the data collected automatically in this way are actually managed by the user. He himself can decide whether to provide his private consumption data for advertising purposes - and at what price. For the provision of its data the user of the app is rewarded with Wys-Token. These can, in turn, be used to obtain a discount when purchasing a product through the shopping app.

The Wys token is an ERC-20 utility token, and is based on Ethereum, as is expected from a decentralized app. After completion of the pre-sale, the official token sale will be launched on November 1st. At the end of December the app should be available to all interested users. However, the full integration of Wys-Token will not come until 2018. Correspondingly, we will have to wait a little longer to see wherever the small German start-up will succeed in challenging the large platforms from the USA with its decentralized concept.