SOOM 4th Blockchain Ecosystem - Bringing Limitless Blockchain Technology To Everyday Life
A storm has hit the investment market which we are not going to recover from. Crypto investment is that storm. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, SOOM 4th Blockchain is a blockchain-as-a-Service platform designed to meet the needs of organizations willing to fully take advantages of Blockchain’s tremendous potential without the cost and burden of developing, maintaining and updating the backend of a complex network of nodes has arrived.
Before we go any further, please check out this video presentation to get acquainted
Now that I have your attention, let’s get right to it.
What exactly is SOOM?
SOOM 4th Blockchain is a blockchain-as-a-Service platform designed to meet the needs of organizations willing to fully take advantages of Blockchain’s tremendous potential without the cost and burden of developing, maintaining and updating the backend of a complex network of nodes. 4th Blockchain’s innovative features such as Grouping algorithm, Proof-of-Transaction and mobile wallet mining allow the platform to support a tremendous variety of conventional and smart-phone based projects from a wide range of industries such as payment systems, customer services, real estates, banking services or telecommunication. SOOM Blockchain uses innovative consensus algorithm, named Proof-of-Group-Stake(POGS) which was developed by SOOM TECH.
The Foundation is committed to developing a robust governance structure and managerial assistance to general affairs regarding the overall operation and harmony of 4th Blockchain ecosystem.
Non-profit organization, supervised by Swiss Federal Supervisory Authority. The Foundation is exclusively and directly serving charitable purposes. It does not pursue any profit and is not geared toward profit.
Overlook the development of 4th Blockchain ecosystem and support the evolution of the ecosystem.
The Foundation board decides by simple majority vote. Board of trustees elected for one-year term. Re-election is possible for an indefinite period unless there is a reason for resignation.
Audited once a year by a Swiss external auditor. The auditor shall review the accounting of the Foundation and provide the board and the supervisory authority with the report on the result of the review.
Promote 4th Blockchain ecosystem by supporting and financing research and development activities deemed appropriate by the board of trustees.
Engage with various corporations, partners as well as banks, regulators and other third parties to the benefit of 4th Blockchain ecosystem.
Educate the public about 4th Blockchain ecosystem. Organize conferences, conventions and other events that promote the ecosystem.
SOOM Tech. is the corporate entity that is responsible for the development of 4th Blockchain core technology, maintenance of its network and expansion of the platform under the governance of SOOM Foundation.
Development of 4th Blockchain technology
Development of 4th Blockchain core technology.
Maintenance of 4th Blockchain’s network.
Development of SOOM Wallet. Customer support.
Development and issuance of SOOM Coins.
BaaS service provider.
Custom chain creation and maintenance services.
Consultancy and expertize services
SOOMPAY is a S.K;orea based mobile payment company providing merchants across Asia comprehensive solutions to support the major Chinese mobile payment services; Alipay, Wechatpay and Unionpay Quickpass.
Merchants using SOOM Pay see transactions being automatically settled in their local currency while Chinese travelers enjoy seamless payment via their favorite mobile app.
The company ultimately seeks to harmonize the mobile payment environment by gathering the majority of successful mobile payments providers worldwide into one single application, SOOM Pay.
Meanwhile, SOOMPAY created a SOOM coin based reward mechanism to not only decrease its affiliated merchants’ transaction fee expenses, but also to encourage the use of 4th Blockchain and SOOM coins among merchants.
Finally, SOOMPAY will be the first enterprise to take advantage of 4th Blockchain platform for the development of a mobile crypto payment service. The service will allow both customers and merchants to perform in-store transactions via the cryptocurrency of their choice (BTC, ETH, DASH…) The service will be implemented into SOOM Wallet and state-of-the-art POS terminal called X-POS.
Security: Card fraud like card duplication can be prevented
Private information can be protected
Fast transactions: Provide faster transaction processing than banks
Support fast cross border transactions
Low commissions: No bank and third-parties commissions. No need to worry about high cross-border commissions.
Simplicity: Useful for retailers and customers.
Useful for countries where banking infrastructure is at low level.
SOOM COIN DISTRIBUTION
2017, 10 - SOOMPAY Office Opening - Seoul
2017, 11 - SOOM Foundation Opening - Switzerland
2017, 12 - 4th Blockchain International Conference in Jeju
2018, 01 - R&D Center Opening - Pangyo
2018, 02 - Technology and Service Conference - Macao, 4th Blockchain Technology Conference - Hanoi, Vietnam, SOOMPAY Technology And Service Seminar - Phnom Penh, Cambodia
2018, 03 - Head Office Opening – Las Vegas, USA.Branch Office Opening – Tokyo, Japan
2018, 04 - SOOMPAY Technology and Service Seminar – China, Partnership With Vimo – Vietnam
Partnership With Visa – Japan, ICO Submission.
2018, 06 - 4th Blockchain Technology Conference – China
2018, 07 - Partnership with Lotte – Vietnam
2018, 08 - SOOMPAY Operation in Vietnam
2018, 09 - SOOMPAY Operation in Japan , Soompay Operation in Russia
2018, 10 - SOOMPAY Operation in Korea
2018, 12 - One Year Anniversary Conference – Jeju, Introduction of 4th Blockchain in Korea, SOOMPAY Operation in Cambodia.
2019, 01 - Introduction to 4th Blockchain in Japan
2019, 03 - SOOMPAY Operation in Macao
2019, 06 - Introduction of X-POS in China and Japan
2019, 09 - IPO in Australia, Soompay Operation In The US
2019, 12 - Introduction Of X-POS Worldwide, International Conference, Soompay Operation Debut.
MEET THE AMAZING TEAM
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
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Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.