Review on SophiaTX by Robiul Islam
Blockchain has become a hot topic in recent times as people are becoming more…
Blockchain has become a hot topic in recent times as people are becoming more and more aware of its advantages when it comes to their businesses. It allows the exchange of peer to peer information between both the businesses and the consumers themselves. One key area that it may help is by tracking medicine from the manufacturer to the distributor, to the hospital and ultimately to the patient. Many markets are struggling with the infiltration of fake drugs so the implementation of this blockchain technology will ensure that both the manufacturers and the consumers of these drugs are adequately protected.
SophiaTX is targeting a market that currently is not serviced so they aim to be the first people to enter the space of enterprise applications like SAP and by developing APIs that are standardized, they have the goal of creating massive levels of adoption.
Updated 5 years ago
Rating changed from 4 to 3
I'm not a "when moon" tribe member! I've been quietly watching for literally months, just severely disappointed as I really thought this project showed promise. Hopefully they get a cash injection and can make some power moves soon but it's not looking great for my point of view!
Pros
- SophiaTX is a stand out when it comes to open source platforms as it is the first of its kind to have integrated blockchain with SCM, ERP and CRM systems such as SAP. There has been official confirmation that it will have their Token Generation Event shortly, starting on the 5th of December of this year. This news comes after they recently revealed their functional proof of concept, as well as having published a white paper that discusses a lot of the main details related to the functionality of SophiaTX and how it can help businesses no matter what size they may be. Some of the key points discussed in the white paper talked about what limitations exist in the current form of blockchain, such as Ethereum. The main issues relate to their lack of speed, inadequate levels of privacy and features that allow businesses in the mainstream world to adopt the blockchain.
Cons
- The SophiaTX Token will be fueling this platform and will include the transaction and mining fees. It can be used to gain access and subscribe to the development platform, as well as allowing for in-app and marketplace purchases. This event will take ten days and there will be a total of 5 rounds in which 30 million tokens will be made available. There has been no soft cap put in place while the hard cap is 115,000 ETH.
