SOMA - a decentralized marketplace between users, rewarding participants for social activity

Today will be a review of project Soma (from the English. SOsial MArket) and the review is aimed not so much to derive the benefits from investing in this ICO at an early stage, how much rather is aimed at attracting attention to this project from the perspective of the idealists who share the opinion that the blockchain technology might radically change the existing societal mechanisms of social interaction.

In the case of Soma social interaction is direct trade between users with a built-in mechanism to reward participants in this process.

Speaking about the platform for direct trade between users with a built-in mechanism to reward participants in this process in the case of the Soma we are talking about the creation of a market for goods, including used, which trade occurs directly between users. While sellers using the internal tokens of the platform can motivate other users to promote their products.

In fact we are talking about creating a decentralized analogue of such sites as eBay, Amazon or local groups in social networks Vkontakte and Facebook. Also Soma will be a competitor on the global trade venues such as Aliexpress or Alibaba and large online stores like Amazon and Ulmart. Of course, if the developers of the Soma will be able to realize their plans.

Fig.1 - the Process of payment by the sellers of the participants of the Soma platform tokens SCT for advertising goods sellers

The scheme is very similar to that used at the existing sites for the sale of goods - sellers need to advertise to get their product noticed. However, Soma payment for advertising within the platform is contributed not to the owners of the trading platforms, and directly to the people who took part in the promotion of goods sellers. This process uses the patented technology of the "interactive products", with which all social interactions with commercial lots are recorded in the blockchain Ethereum.

As in the case of eBay or Aliexpress platform Soma is the guarantor of the transactions between buyer and seller - all the calculations are made from the escrow accounts within the platform. The payment inside the platform occurs with the use of cryptocurrency (the internal token platform SCR), however the prices are displayed in Fiat currencies in order to facilitate the understanding of the average consumer, who may be unfamiliar with cryptocurrencies.

The assignment of tokens SCT and Soma ICO

Soma will also encourage users to use the internal token-SCT platform as the standard currency for operations. SCT is also used for rewards during the promotion of product lots of other users (see Fig. 1).

Important note - the developers in the description of the Soma is written in plain text that one should not expect quick and fast profit from buying tokens Soma on ongoing ICO platform.

Please note that SCT are not an investment instrument and should not be considered as such. They are innovative cryptographic token to the implementation arrangements at the decentralized trading platform, which will be owned by the community members. The initial sponsors are idealists that will ensure the future of Soma and SCT.

Tokens SCT is the standard ERC20 tokens on the Ethereum blockchain.

• The ending of ICO Soma: Thursday, October 26, 18:00 Moscow time
• Current bonus: 5%
• The total amount of tokens: 60,000,000 SCT
• Share: 6,000,000 SCT (10%)
• The nominal value of the tokens: 1 ETH = 450 SCT
• The maximum amount of fees ICO: 120,000 ETH
• The current amount of fees ICO: ~15,000 ETH

Judging by the roadmap of the platform she is already ready to implement the code in the closed state of the alpha version. Open public testing platform planned for early next year, and the first release is scheduled for mid-2018.

Fig.2 - Road map Soma

If you want to support the creation of such decentralized platforms or you have a business related to the sale of goods in venues such as eBay or Craigslist - Soma platform may be of interest to you. And would love your comments if you have already heard about Soma and you have comments about the prospects of this platform.