Indorse Token (IND)

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Indorse is a split up, block chain powered social network that is dedicated entirely to a mix of professionals, their skills and their accomplishments.

Joke Name

Indorse Token = Social Network

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (IND)

Coin or Token

Circulating Supply (37 Million)

Total Supply (170 Million)

Market Cap Ranking

Review

Job markets in various industry verticals are also reliant in part to the process of networking, and a number of online platforms have sprung up which allow professionals and companies to connect in a meaningful manner, resulting in creating the right skills economy. However, many of these platforms have been plagued by different problems, and there is always the need of a better social network that takes advantage of the latest technology and is built solely for professionals.

With Indorse, a lot of these problems are set to be solved. Indorse is a decentralized, blockchain-powered social network that is dedicated entirely to professionals, their skills and their accomplishments as they pertain to forging new professional relationships.

Crowdsale:

Registered in Singapore, the project managed to raise about $10 000 000 during the duration of the ICO.

Key Features:

  • Self-Sufficient
  • Application

Self-Sufficient

The Indorse model is built on creating an ecosystem that is self-sufficient, with enough incentive for all kinds of users. Professionals are obviously at the heart of this concept, but there is also enough space for companies that are looking to recruit, advertisers on the lookout for the right advertising platform, and investors who want to derive rewards from contributing to this system. The whole concept is built on the premise that reputation is one of the most important commodities in the professional market, and the platform allows professionals to gradually build this reputation from scratch, share more details about their professional exploits, and earn rewards based on their reputation alone. This is also a great platform for companies looking to fill open positions, as this gives them access to professional profiles that are endorsed by third parties and validated through blockchain technology.

Application

The heart of Indorse lies in the blockchain-powered, decentralized system which lets professional users create their professional profiles on the platform. The system then goes on to a rewards infrastructure, which provides more rewards to those professionals who choose to share more and more of their profiles and professional credentials.

Advertisers can also purchase space on this platform, generating revenue that can then be converted into professional rewards.

Users also have the opportunity to endorse the professional claims of other users, creating an ecosystem of mutual endorsement that can really help professionals build up a social profile that is indicative of their abilities and accomplishments.

Problems:

There’s always a problem with those “x but on the blockchain” type of project, as with Indorse’s example, “LinkedIn but on the blockchain”. Why would anyone use Indorse over Linkedin? Why would everyone bother to make his/hers life even more difficult by going through Indorse’s token system instead of registering directly on LinkedIn without any hassle?

Conclusion:

Overall, Indorse is an interesting concept. However, it will probably always be overshadowed by bigger, more mainstream competitors. This doesn’t spell the end for Indorse, as the project may find its niche.

Pros

  • Limited

Cons

  • No direct backing (asset, profits, commodity)
  • Competition
  • Harder to use over Linkedin