Author: Gan Jia Ci
Odyssey Protocol Foundation aims to empower the ecosystem by becoming a major player in the future of a decentralised sharing economy. Launched in January, Odyssey remains as one of the few coins that has performed well against the bearish cryptocurrency market this year.
Block Asia managed to clinch an exclusive interview with Community Managers Kim Mikyeong and Anastasia Lim during the InnovFest Unbound 2018 event, an award-winning innovation festival that played host to over 13,000 attendees and a diverse band of companies.
Centralisation VS Decentralisation
Speaking of the major centralised sharing platforms, Kim explained,
“The current state of the economy is that many of these big players own a large share of the market. When users sign up with these companies, they are entrusting them with their personal data. “
“Many firms require specific personal information such as our billing addresses and credit card information,” she added. As such, it poses as a modern conundrum when users provide sensitive data to these centralised companies without knowing where the data goes or what is being done with it.
According to Kim, these centralised servers present a single point of failure – with a security breach, all the information can be retrieved by hackers.
Fortunately, blockchain has the ability to prevent such a crisis from occuring. With data recorded on the blockchain system, information becomes more secure due to enhanced transparency.
A Decentralised Sharing Platform
Through facilitating transactions on blockchain, Odyssey provides payment solutions. Using native OCN tokens, users can transfer and receive payments recorded on the blockchain, ensuring full transparency and lower transaction costs at a faster speed.
The partnership with oBike marks Odyssey’s very first successful integration towards a decentralised sharing economy. Users are now able to use their OCN tokens to pay for their bike rentals. Kim and Lim emphasised that this integration not only provides a payment solution via the cryptocurrency, but it also encourages people to adopt digital coins as a means of exchange.
Beyond that, an integration like this also encourages good user behaviour. Kim illustrated this point with an oBike example, “Let’s say a user is renting a bicycle. At the end of the ride, the Odyssey platform rewards the user for keeping the bicycle in good condition. With token remunerations, users will be incentivised to keep the equipment in a well-working state.”
As such, these positive reinforcements hold users accountable for their actions in the sharing community and boost overall societal welfare.
While Odyssey currently runs on the Ethereum network, it intends to develop and launch its very own blockchain – the OCN Chain.
Speaking of the OCN chain, Lim stated,
“Our objective is to enable inter-chain interoperability. This is what sets us apart from other blockchains. In order to integrate all sorts of sharing platforms, we must first allow different blockchains to interact with one another.”
Adding on, she said, “While this is a common vision shared by many developers, there still isn’t a good implementation of the idea in the current blockchain space. We hope to change that.”
Once completed, Odyssey will function with a fully custom blockchain with cross-compatible support, capitalising on successful and efficient features of other complementary projects in the sharing community.
Odyssey is also currently running for the TRON Super Representative (SR) Election to become one of the 27 TRON’s SRs.