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First blockchain social platform launched, based on Waves

Waves and Partiya Rosta (‘The Growth Party’) have launched a new ‘People of growth’ platform based on the Waves blockchain. In the initial phase, the financial side of the project has been implemented. 10 million Upcoins were created. The internal cryptocurrency allows for payments within the platform and loyalty program to be made. The Waves-powered infrastructure provides support for crowdfunding as well as integration of internal rating and voting systems based on the blockchain.

Waves and Partiya Rosta (‘The Growth Party’) have launched a new platform, ‘People of growth’, based on Waves. This is the very first example of a blockchain being leveraged to power a social project, in Russia or elsewhere. As a nascent technology, blockchain has been suggested as an answer to many social and economic issues — but until now, it has often been dismissed by leaders as a solution without a problem.

‘It’s a privilege to be a part of this new movement,’ comments Sasha Ivanov, CEO of Waves Platform. ‘For those who have been working in this space for years, aiming to increase blockchain adoption, it’s vindication of our efforts. It’s also great to see Waves, the platform we created for mass blockchain adoption, being used for exactly the purpose intended.’

In the first stage, the financial basis of the project has been implemented and 10 million Upcoins created. Each member of the ‘People of growth’ network community receives a virtual wallet after registering on the portal For now, transactions are processed in Upcoins, but wallet functionality will be extended in the future to support other cryptocurrencies. The internal cryptocurrency — Upcoin — is employed for payments between users of the system. Upcoins can be transferred and used for payments and network projects within the platform. The loyalty program is also based on Upcoin. Network participants receive bonuses for their participation in community events, and these earnings can be used for discounts on partner educational programs, yoga classes, and many other services. Community members are also entitled to a credit in Upcoins.

‘Development and implementation of a token based on the blockchain is much cheaper than regular loyalty programs. In addition, blockchain technology provides advantages such as full transparency within the system, smooth operation and immutability of transactions,’ comments Sasha Ivanov, CEO of Waves Platform.

The internal crowdfunding program for business projects within the party is planned to be launched using bitcoin as well as Upcoin on the “People of growth” platform. Additionally, the infrastructure of Waves will allow the integration of a ratings system within the platform. Members can build their ratings status within the community network through this system. Furthermore, it is planned that all internal votes will be processed on the blockchain. The voting process becomes completely transparent and the results can be seen in real time with this technology. This could allow the voting choice of the whole country to be determined within an hour. Using blockchain technology in voting systems opens new opportunities for businesses and social projects, as well as at the state level in the framework of the electoral process.

About Waves
Waves Platform is a decentralized platform for crowdfunding and creation of digital tokens. It is the biggest blockchain project with Russian roots. The Waves cryptocurrency platform focuses chiefly on the creation/distribution, trading and exchange of assets/tokens on the blockchain. One of the main features of the project is a focus on ease of use and mass adoption. Four components of the Waves platform are open sourced: cryptocurrency, blockchain, decentralized mechanism of confirmation based on consensus and community miners serving network. As a consensus algorithm, Proof-of-Stake is used. In June 2016 Waves successfully finished its ICO (Initial Coin Offering — public sale of coins), collecting more than $16M (30,000 BTC). It was listed in the TOP 3 of the most successful blockchain projects.

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