On this first episode of CryptoKnights, we talk to the SVP of Revenue at Wolk Inc, who gives us an overview about their blockchain based data exchange and their upcoming token generation event.
Disclaimer: We are not financial advisers. Token sales are extremely risky. We are not endorsing any of them here. This episode is purely for information. Both CryptoKnights and Wolk advise you to do your research before investing in any tokens.
ABOUT THE GUEST :
Harish Thimmappa is the Senior VP of Revenue at Wolk Inc. He oversees Global Sales and Business Development at Wolk. With a decade’s worth of work related to sales and revenue in the mobile space, he’s worked at Kenchoo, Supersonic, InMobi and Playnomics. He currently resides in California.
WHAT IS WOLK? (6:05)
Data is the new oil. Data about people, data about places, data about things, data about businesses, all put together on blockchains, are all but changing the world. Big companies like Facebook and Google now control this data, keeping it for themselves. But data is too important for it to be locked away for just a few powerful companies. Wolk changes this: Wolk democratizes and decentralizes data exchange. Our mission is to create open data sharing systems for everybody. Wolk makes it easy for data buyers to get data from data sellers in a decentralized data exchange. Wolk is combining decentralized data storage with a new decentralized virtual currency, the WOLK token.
HOW IS WOLK DIFFERENT? (17:15)
Most of this demand and supply now goes through Google or Facebook now, who charge for ad space and not for the data. Wolk’s business is built on deterministic data which is of high accuracy compared to inferred data.This can have a huge impact on marketing. By having deterministic data, the advertisers can categorize what they advertise to a particular group depending on the data.
Thus, Wolk differs from other companies buying and selling data thanks to its decentralised nature, deterministic data and its pricing methodology.
THE TECHNOLOGY (27:04)
Wolk works as a blockchain based technology. The data if kept on one server can be lost or worse, hacked by a third party. The transactions, if maintained with fiat currency, needs to be maintained by accounting firms. If this is on the blockchain, it cannot be altered or tampered with. Having transactions on a blockchain helps to maintain the records in a systematic manner.
Wolk is built on Ethereum blockchain with Wolk token as a derivative of eth. Thus, there is security and preservation of data and transaction respectively.
WOLK TOKEN AND TOKEN SALE (32:31)
Wolk token, being built on etherium, is a digital asset. Thousand wolk is one eth during the beginning of the token generation. Anyone who can access eth can buy wolk
Generating 50,000 eth, the minimum mark, would mark the success of the token generation to 500,000 eth which is the maximum mark. Once the maximum mark or Oct 9th is reached the token generation ends.45% of the eth generated drives the supply and demand partner on-boarding. 15% remains as a reserve. 40% makes up the operational expense.
The 15% of reserve acts a constant market cap.
The token generation is from September 15th to October 9th.
Links mentioned in the episode:
More information on: www.wolk.com