The MDL Talent ICO is scheduled to start in just 2 weeks.
There’s no doubt that this project is certainly making an attempt to create something that is ever so slightly different to the other blockchains and cryptocurrency companies that are out there in the market. The company states that it is their intention to produce a digital currency that is able to be used by the talent scouting industry, and that is certainly going to lead to them being able to move into a brand new part of the cryptocurrency industry.
The Basics of MDL Talent.
The company views themselves as being a hub for all things related to the talent scouting industry, which means basically anything you can imagine within that market. They also state that they wish to produce something that is not only fully transparent, but also highly efficient when it comes to the manner in which everything works.
Not only will people with a talent be able to be hired, but there will also be a marketplace whereby companies can rent or sell equipment and services that all fall within this particular industry. In other words, they plan on turning their platform, and therefore their cryptocurrency, into a one-stop shop for the entertainment industry.
From initially looking at what they offer, this could very well be a rather useful way of using blockchain technology. However, the key is going to be in the uptake of the system as to whether or not this will prove to be successful.
The Technical Aspect of MDL Talent.
From a technical perspective, the platform that they have decided to use is the WAVES platform. Of course, this is their choice and they state that they wanted to avoid being drawn into a crowded marketplace of ERC20 tokens. This could prove to be a wise choice with nearly all of the current ICOs launching on the ethereum network.
The platform is easy to understand. On the one side you have the talent and the other side has the company, or individual, that is searching for that talent. This all takes place by interacting with a database in order to unite both parties.
The blockchain offers complete transparency via a decentralized network as well as a series of anti-fraud measures put into place via the platform itself. There is also a sense of scalability as well as stability which is required if this is to become a serious adaptation of the blockchain approach.
Aside from the marketplace concept, there is also the idea of them creating a global trustchain to connect performers and agents together. This trust aspect is clearly going to be key with this mechanism also taking place via the blockchain due to the way it cannot be altered at any point.
This reputational model could prove to be a real advantage for the cryptocurrency. The token then acts as fuel on the blockchain for requests to be processed as well as it being the currency of choice on the marketplace area.
The actual technical side of things is simply the blockchain operating as it does for most companies. The main difference is what both ends of the chain are doing, and also what they hope to get from being part of the blockchain since it allows them to gain access to that database while also controlling how much information they are able to put out there.
The Advantages of MDL Talent.
Creating a cryptocurrency and using blockchain technology in this particular market is a rather interesting development. With their aim being to simplify the entire process of finding talent, and the talent knowing that the individual or company can be trusted, then it does mean that things should run more smoothly than before.
The way in which the creators continually talk about the issue of trust does show that it is a recurring issue within this particular industry. They are clearly hoping that belief in the blockchain, and the anti-fraud aspects that come with it, will help to circumvent those issues and allow them to go from strength to strength.
However, perhaps the most important advantage is the database that is created on the platform. Using the MDL token in order to then show proof and offer a sense of validity to the entire transaction or connection will encourage performers and those with a service to offer to join the platform and gain access to those scouting for those things.
The Financial Aspect and ICO.
When it comes to the financial side of things, and also for the ICO, then the company has clearly thought about everything.
First, they are looking at launching 1,000,000,000 MDL with 400,000,000 MDL tokens being made available for the ICO. They have also set a soft cap at $10 million while their hard cap is slightly higher at $18.4 million.
When it comes to the purchasing, then they do accept several cryptocurrencies including Waves, BTC, ETH and SKY. For the ICO, there is a set price of 1MDL equating to $0.05.
The token sale is scheduled to run from the 10th of March until the 10th of April.
Conclusion About MDL Talent and the ICO.
There is no doubt that this cryptocurrency is trying to be different from the others, and that can end up being the thing that can either make or break the entire company. The talent scouting industry is larger than you would perhaps realize, so having a cryptocurrency and blockchain for added security and transparency should be something that is warmly welcomed.
The fact that they have this different approach should then mean that the coin can become established and build a following relatively quickly. From an investment point of view, that can be rather useful as it does mean that there is a better chance of getting a return further down the line.
There is enough scope and avenues for this particular cryptocurrency to go and explore to allow this digital currency to establish itself in the marketplace. As long as they are able to offer smooth transactions and work on the reputation side of things, then you can easily see how talent scouts could turn to this option above all others. It will merely be a case of waiting to see what the uptake is like before determining just how successful this ICO and digital currency could be.
Check out further details about the token sale on their website and in their whitepaper.
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